Shares in tech and financial companies dragged benchmark US indices lower by Thursday's close despite the Commerce Department's revision of fourth quarter 2013 GDP data showing the US economy grew at a 2.6 percent annual rate, a bit more than the previous 2.4 percent estimate and just shy of the 2.7 percent rate that economists had been expecting. Investors were relatively calm in making their exit from the positions that have benefitted most from the current bull-market despite the fact that both houses of Congress passed a fresh round of sanctions against Russian officials as a result of that country's annexation of Crimea earlier this week. Stocks were down for the fourth session in five by the bell.
Results for Thursday, March 27
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Standard & Poor’s 500: -0.19 percent to 1,849.04
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Dow Jones Industrial Average: -0.03 percent to 16,264.23
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NASDAQ: -0.54 percent to 4,151.23
Our Top Stories
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Equities.com telecom expert Jeff Kagan considers the in and outs of growth-investing using as examples precedents set by companies such as Apple (AAPL) and Google (GOOG) .
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Senior Editor Jacob Harper has some thoughts and an infographic on how corporate logos work.
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More importantly, Harper has the rundown on the EU’s decision to throw another $11.4 billion into the Greek banking system.
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Andy Waldock thinks that embattled e-currency Bitcoin isn’t going anywhere anytime soon.
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Yvan De Munck reports from London’s recent crowdfunding and alernative financing conference.
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In other crowdfunding news, David Drake has the specs on Realty Mogul, a real estate crowdfunding platform that just raised $9 million in Series A shares.
Stocks
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Brazil’s national oil and gas giant Petrobras ($PBR) continued to make impressive gains in Thursday’s session after releasing financial results for 2013.
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Medical 3-D printing maker Organovo (ONVO) saw shares taking a dive in Thursday’s session, despite the relative lack of an overt catalyst.
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Small-cap pharma company Idera Pharmaceuticals (IDRA) maintained its losing streak after analysts were not impressed with the company’s centerpiece drug treatment.
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Mobile game-maker King Entertainment (KING) headed nearly 3 percent lower after the previous sessions IPO was more or less flat, which means that Senior Editor Jacob Harper had his work cut out for him in keeping track of the puns.
