Twitter joins a hot sector of the stock market, despite Thursday’s declines. After early struggles, Facebook stock has surged in the past few months after revealing significant growth in its mobile numbers. Year-to-date, Facebook has posted an 80.7% gain. Meanwhile, LinkedIn has skyrocketed in value, with shares vaulting from $101.21 on this day last year to over $220.
2 economy. A report that showed strong growth in Chinese exports last month was not enough to counter investor caution. In early European trading, Britains FTSE 100 slipped 0.5 percent to 6,664.52 and Germanys DAX fell 0.6 percent to 9,024.79. Frances CAC 40 slid 0.8 percent to 4,248.22. U.S.
And the stock market is up 20 or 30 percent. From 2007, it’s up maybe 10 percent. People say how much it’s up, but it’s only up from where it crashed.” As for valuations, he said on “Squawk Box” that at the height of the Internet bubble “in 1999 the stock market was selling for 33 times earnings.” Stocks are now selling for around 14 times, he said. “They’re cheap on stock valuations alone.” The Baron Capital chairman and CEO formed the investment company that bears his name in 1982. It currently has $23.8 billion in assets under management.
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1. It was Southeast Asia’s worst performer on the week, dropping 3.5 percent, the biggest since Aug. 23. Stocks in Singapore fell 0.8 percent on the day to the lowest close in more than three weeks while Malaysia inched down 0.1 percent, both posting modest weekly loss. Vietnam ended down 0.3 percent, but was up 0.3 percent on the week after two weeks of declines. Indonesia inched down 0.2 percent and was an outperformer on the week, up 1 percent, after strong private consumption in the third quarter and government’s plans to boost foreign investment lifting hopes on current account balance.
Twitter set a price of $26 per share for its initial public offering on Wednesday evening and will begin trading Thursday under the ticker symbol TWTR in the most highly anticipated IPO since its Silicon Valley rivals Facebook 2012 debut. By Associated Press, NEW YORK Twitter popped, but the rest of the market dropped. Twitter wowed investors with a 73 percent surge on its first day of trading Thursday. The broader market, however, had its worst day since August as traders worried that the Federal Reserve could cut back on its economic stimulus.