Auction-rate securities – representing corporate debt – were sold to investors by Raymond James as 'same as cash.' In settlement with regulators, the firm agreed to buy back $280 million worth of the auction-rate securities.
Zynga is expected to sell $1.5 billion to $2 billion of its stock to the public as early as this fall. Zynga created Farmville and other popular online games.
Hedge funds will have to abide by new rules adopted Wednesday. But many funds and related groups support the changes.
Pandora stock soars 63 percent in first day of trading before falling back to close with a 9 percent gain. Pandora is the latest Internet stock to go public.
Recent actions taken against Congo's 'conflict mineral' trade by companies and the international community signal that although progress is slow, it is happening.
Financial aid dollars from the US government represents up to 90 percent of revenues of for-profit colleges. When the Department of Education laid down new conditions for financial aid access, the colleges' shares didn't tank. They soared on Wall Street.
Whistleblower rules to offer tipsters up to 30 percent of the money the government recovers in a fraud. New whistleblower rules will take effect in two months.
The Dow rose about 38 points, with DuPont rising and Verizon falling. The Nasdaq rose about 15 points.
Hedge fund manager Raj Rajaratnam was recorded getting inside information from hired experts. After the jury heard the wiretapped conversations, they convicted him of all 14 counts of insider trading and conspiracy.