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 Trade
YNDX Yandex N.V. 30.76 -1.08 -3.39 4,356,244 Trade
AAPL Apple Inc. 150.56 -2.90 -1.89 32,476,337 Trade
TSL Trina Solar Limited Sponsored ADR (Cayman Islands) n/a n/a n/a 0 Trade
DQ DAQO New Energy Corp. American Depositary Shares e 24.15 -0.85 -3.40 108,885 Trade
GOOG Alphabet Inc. 934.09 -13.71 -1.45 3,212,996 Trade
JKS JinkoSolar Holding Company Limited American Deposi 26.76 0.39 1.48 1,004,888 Trade
F Ford Motor Company 11.18 0.12 1.09 38,687,497 Trade
XOM Exxon Mobil Corporation 80.83 0.46 0.57 11,149,690 Trade
FSLR First Solar Inc. 44.81 -0.63 -1.39 4,288,610 Trade
MSFT Microsoft Corporation 73.16 -0.89 -1.20 36,844,220 Trade

Comments

Emerging Growth

Lomiko Metals Inc.

Lomiko Metals Inc is an exploration stage company. It is engaged in the acquisition, exploration and development of resource properties. Its projects include Vines Lake project and Quatre - Milles…

Private Markets

Voleo

Voleo is a free download that allows you to form investment clubs with your friends, family, colleagues, classmates, teammates…basically anyone you know and trust. Invest and manage a stock portfolio…

iPRO Network, LLC

We provide the platform, tools, and resources to empower individuals and professionals to market desirable goods and services to the public, taking the place of traditional methods of commerce.