Equities Market Roundup: Yandex Adds to Investor IPO Excitement

Equities Editors Desk |

Yandex CEO Arkady VolozhIt seems Wall Street still hasn't decided a direction as stocks are trading flat today. Energy stocks are up while other sectors like industrials and financials are trading lower. The FDIC said today that bank profits are up 67 percent year-over-year to $29 billion, but the number of troubled financial institutions also increased from 884 to 888. Oil prices also rebounded to $100 after the U.S. dollar weakened today. Energy stocks were hit the hardest yesterday when the debt crisis in the EU strengthened the dollar, and pushed commodities prices down. In tech, it seems that investors continue to thirst for web IPOs as Russian search engine Yandex (YNDX) made its market debut today. Shares prices are up over 40 percent from the Yandex's IPO price of $25 on 52 million shares.

Major U.S. Stock Indices

DJIA: 12,375.66 (-0.04 percent)
S&P 500: 1,316.97 (-0.03 percent)
NASDAQ: 2,750.30 (-0.31 percent)
Russell 2000: 811.22 (-0.38 percent)



In other news:

  • HBO'S Too Big to Fail aired last night. Anyone learn anything new? [WSJ]
  • The Yandex IPO, which raised $1.3 billion and gives the company a market cap of roughly $11 billion, is the largest initial public offering this year. [Bloomberg]
  • Once again, politics gets in the way of a debt crisis. Greece's Prime Minister is finding it hard to get things done as opposing political parties can't seem to find a compromise. [NY Times]
  • The most widely held stocks by hedge funds. No surprise here as big names like Apple (AAPL), Microsoft (MSFT), Google (GOOG), Ford (F), and Exxon Mobil (XOM) lead the list. [The Street]
  • Chrysler has repaid $10.6 billion of the $12.5 billion bailout the U.S. government issued to save the automaker, which is great, except the U.S. Treasury is unlikely to be recovering the remaining $1.9 billion. [Reuters]

Check back for more news.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://www.equities.com/disclaimer

Companies

Symbol Name Price Change % Volume
YYK.TEST NYSE TEST SYMBOL n/a n/a n/a 0
YNDX Yandex N.V. 24.66 0.17 0.69 3,294,369
AAPL Apple Inc. 135.72 0.38 0.28 22,198,197
TSL Trina Solar Limited Sponsored ADR (Cayman Islands) 10.21 0.03 0.29 717,627
DQ DAQO New Energy Corp. American Depositary Shares e 25.07 0.07 0.28 40,471
GOOG Alphabet Inc. 828.07 3.91 0.47 1,611,039
JKS JinkoSolar Holding Company Limited American Deposi 16.77 0.63 3.90 678,873
F Ford Motor Company 12.58 0.04 0.32 26,407,405
XOM Exxon Mobil Corporation 81.76 -0.54 -0.66 15,645,973
FSLR First Solar Inc. 34.84 0.73 2.14 2,396,753
MSFT Microsoft Corporation 64.62 0.10 0.15 21,248,818

Comments

Emerging Growth

New Age Farm Inc.

New Age Farm Inc is engaged in the development of the agriculture based business in Langley, British Columbia.

Private Markets

XY Find It

Founded by serial entrepreneur Arie Trouw, XY Findables follows a single guiding principle: customers should never lose anything important again. With over 50,000 users around the world, more than 100,000…

Trustify

Trustify provides trust and safety in both the digital and physical worlds through our vast network of on-demand Private Investigators.By removing the large retainers and high hourly rates that traditional…