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August 20, 2012

Apple tops Microsoft to become most valuable company in history

  • old recordMicrosoft became the world’s most valuable company ever near the turn of the century, when the company’s a total market worth reached $620.58 billion in 1999.
  • new record After shares reached a value of $664.74 a piece, Apple became the most valuable company in history with a total market worth of $623.14 billion. source
14:29 // 1 year ago
August 3, 2012

The ballad of Knight Capital: How a company’s software messed up the market

  • $440 million the amount Knight Capital lost after a trading glitch on Wednesday led the company to send erroneous orders on 140 separate stocks
  • 75% decline the fall in the company’s stock since Tuesday; the company blamed its problems on new software which suffered from glitches source

» As for the stocks affected: Some of the smaller stocks, like Wizzard Software (which made a dramatic leap from $3.50 to $14 as a result of the trading glitch) had their trades cancelled, with no penalties for the steep increases. Other bigger stocks, like Abercrombie & Fitch, are still being investigated. Glitches in complex software like this could be spooking smaller investors, already weary of the stock market after the financial crisis and the 2010 Flash Crash.

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May 15, 2012
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May 9, 2012
Maybe I shouldn’t do these things, but I’ve worked my life building this company and it’s been successful. I want to enjoy it. Whether it’s living lavishly, I think that’s all relative.
Green Mountain Coffee founder Robert Stiller • Discussing the stock sale which cost him the chairmanship of his company earlier this week. Stiller, who founded the company in the 1980s and has seen its fortunes rise with its popular K-Cup machines, abruptly sold 5 million shares last week while the stock was in the midst of a sharp decline. The sale was in violation of company policy. Stiller, who still owns 8 million shares of the company’s stock, also dumped a $50 million stake in Krispy Kreme at roughly the same time. Stiller and another person will remain on the board for now, but had his pay suspended and his leadership role removed.
22:24 // 1 year ago