Mike Shea

Mike Shea News

  • Google Shares Tumble 3.1% in Possible ‘Fat Finger’ Trade

    Google Inc. dropped as much as 3.1 percent and then reversed most of the tumble within a second in a series of transactions that spurred concern the stock was hit by a computerized-trading error.

  • Stocks Drop With Industrial Metals, Euro; Treasuries Rise

    U.S. stocks sank, erasing yesterday’s rally, amid a plunge in industrial metals, disappointing earnings and concern Apple Inc.’s iPhone sales may miss forecasts. The euro slid as Germany’s central bank chief reportedly said European policy makers may cut rates if needed.

  • S&P 500 Rises Above Record Close, Euro Rebounds on Cyprus

    Stocks rallied, sending the Standard & Poor’s 500 Index to a record, and the euro rebounded from a four-month low as the reopening of Cyprus banks eased concern about Europe’s debt crisis. Commodities erased early gains. Treasuries were little changed and the dollar fell.

  • Groupon Stock Among Most-Expensive for Shorts to Bet Against

    Groupon Inc., which just completed the biggest initial public offering by a U.S. Internet company since Google Inc. sold shares in 2004, is among the most difficult stocks for short sellers to borrow and bet against.

  • Knight Gets $400 Million Infusion in Sale of Convertibles

    Knight Capital Group Inc. received a $400 million cash infusion through the sale of convertible securities after trading losses spurred by a software failure drove the market maker to the brink of bankruptcy.

  • U.S. Stocks Erase Loss Amid Buying Ahead of Index Changes

    U.S. stocks erased losses in the final 15 minutes, sending the Standard & Poor’s 500 Index to a second weekly gain, as investors bought shares before changes to MSCI Inc. indexes amid federal budget talks.

  • Stocks Erase Drop Before Index Changes; Commodities Rise

    U.S. stocks erased losses in the final 15 minutes as investors bought shares before changes to MSCI Inc. indexes and weighed developments in budget negotiations. Commodities rose. Treasuries were little changed.

  • U.S. Stocks Pare Drop as Investors Dissect Fed Minutes

    U.S. stocks pared losses in the final half hour of trading as investors debated whether the Federal Reserve will embark on another economic stimulus program. The Dollar Index touched a two-year high while commodities gained and Treasuries were little changed.

  • Griffin’s Overtures to Knight Were Hampered by Distrust

    As time was running out, Knight Capital Group Inc. Chairman and Chief Executive Officer Thomas Joyce had three choices left -- accept a $500 million bailout from his biggest competitor, take an offer from a group of clients and others that would dilute owners, or go bankrupt.

  • Exxon Single 100-Share Trade Triggers Price Circuit Breaker

    A single trade for 100 shares of Exxon Mobil Corp. more than 6 percent below yesterday’s closing price led to the triggering of a circuit breaker, pausing trading in the stock.

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