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Articles about Nasdaq

Fail and You

NASDAQ IT security spend: $1bn. Finding mystery malware on its servers: Priceless

NASDAQ servers were infected by malware that exploited two mystery zero-day vulnerabilities, according to a magazine cover story published today. Despite spending a ton of money on computer security, the stock exchange was wide open to attack, we're told. Today's report pulls back the curtain back to reveal a little more about …
Iain Thomson, 17 Jul 2014

NASDAQ exchange stumbles AGAIN after 'human error' snafu

The NASDAQ stock exchange suffered yet another glitch yesterday, forcing it to halt trading in derivatives contracts linked to the Nasdaq 100 index. The latest in a series of hiccups at the all-electronic exchange was caused by "a human error", the exchange said in a statement. The snafu took out the Global Index Data Service …
The Winklevoss twins, Cameron and Tyler

Winklevoss twins eye up NASDAQ: Publicly traded Bitcoin fund... what could go wrong?

The Winklevoss twins have set out plans to list their Bitcoin trust exchange on the NASDAQ to create what would be the world's first publicly traded cryptocurrency biz – if it were approved. The news comes just two days after the SEC issued an investor alert warning the public about the risks of virtual currency investments. In …
Jasper Hamill, 09 May 2014
management analysis3

Tech Data granted one more stay of execution by NASDAQ

The NASDAQ Panel has granted Tech Data a final extension until the end of March to get its accounts up-to-date or face an embarrassing and costly de-listing. The tanker-sized wholesaler confirmed this in a brief filing today that it had until the 27th of that month to report restated results for each quarter in fiscal '14 ending …
Paul Kunert, 09 Dec 2013

NASDAQ halts stock trading, citing data-feed glitch

A technical problem halted Nasdaq securities trading on Thursday, putting stocks such as Apple and Microsoft into limbo. The glitch was due to problems with the trading systems that disseminate pricing quotes, and led to a freeze in the trading of NASDAQ-backed securites at 12:14 Eastern Time. In a statement, the Securities and …
Jack Clark, 22 Aug 2013
Pigeon crapping on statue

Nasdaq blames rival NYSE Arca for 3-HOUR trading outage

The company behind the NASDAQ stock exchange has said that last week's three-hour outage was partly its own fault, but mostly the fault of rival exchange firm NYSE Arca. The glitch forced Nasdaq to take trading offline on Thursday last week – and thousands of Nasdaq-listed stocks were frozen in place for three hours across the …

Blundering Tech Data faces NASDAQ boot over Computer 2000 accounts

Tech Data is facing a delisting from the NASDAQ unless it can bring its financial house in order, the distributor has confirmed. The world's second largest tech wholesaler had until 26 September to file its fiscal 2013 Form 10-K - an annual report required by the SEC - and numbers for first half of this current financial year. …
Paul Kunert, 04 Oct 2013
The Register breaking news

Citi to file claim with Nasdaq over Facebook IPOcalypse

Citigroup is planning to file a claim for its piece of the $62m compensation pot Nasdaq is required to dole out after the Facebook IPOcalypse. The bank is all set to apply for the existing compensation, but it's still leaving its other options open, according to the sources whispering to the Wall Street Journal and Reuters. …

Staggering disk biz Overland heads for Nasdaq exit …. again

Perennially almost-but-not-quite failing Overland Storage is once again under notice from Nasdaq that it might be booted out of the stock exchange after apparently falling short of the "minimum market value" required. It's no fun at all for the beleaguered company's management as it has had to file an 8K form with the US …
Chris Mellor, 09 Jul 2013
Twitter for Mac Old

Twitter snubs IPOcalypse host Nasdaq in favour of NYSE

Twitter has revealed that it has snubbed the tech-heavy Nasdaq market in favour of the New York Stock Exchange (NYSE) for its IPO. Twitter's Nasdaq snub may have something to do with that exchange's mishandling of Facebook's market debut last year, the last highly anticipated tech IPO. In an event that came to be known here at …
The Register breaking news

Nasdaq chief's large package shrinks after terrible Facebook blow

Nasdaq OMX has brutally slashed its chief's 2012 bonus by over half a million dollars because of the Facebook IPOcalypse. The market said in a filing with the Securities and Exchange Commission that Robert Greifeld's bonus for last year would be shaved by 62 per cent, although naturally that still leaves him with a not- …
The Register breaking news

NASDAQ's $62m apology for Facebook snafu approved by SEC

The Securities and Exchange Commission has approved a $63m settlement by NASDAQ OMX Group for the downtime its exchange suffered during the Facebook IPO which left traders unsure if their requested trades had gone through. "Nasdaq proposes to compensate market participants for certain claims related to system difficulties in the …
Iain Thomson, 25 Mar 2013
The Register breaking news

SEC slams NASDAQ with $10m fine for Facebook IPOcalypse

NASDAQ is forking over $10m to the Securities and Exchange Commission as penance for its poorly executed Facebook IPO. The fine was levied against the exchange for the Facebook IPOcalypse, which saw punters at first unable to buy shares in Zuck & Co's data farm social network, and then able to buy but only at unreliable prices …
Jack Clark, 29 May 2013
The Register breaking news

Nasdaq's RIM shot: BlackBerry maker ejected from top 100

A US index of top performing non-financial companies has booted out RIM, Netflix and Electronic Arts after the trio's fortunes fell too far. The Nasdaq-100 is updated every year and is broadly based on market capitalisation with some weighting. The disappointing share performance of the former tech darlings led to their removal …
Bill Ray, 19 Dec 2012
The Register breaking news

Facebook shares drop 10%, trip NASDAQ 'circuit breaker'

In a speedy response to an analyst's negative assessment, Facebook's stock price dove by over 10 per cent in trading on Monday morning, triggering the NASDAQ exchange's "circuit breaker" designed to prevent over-zealous short sellers from further destroying a company's book value. "What are the shares worth? Perhaps only $15," …
Rik Myslewski, 24 Sep 2012
The Register breaking news

Citi rubbishes Nasdaq compensation offer for Facebook IPOcalypse

Citigroup has let the Securities and Exchange Commission (SEC) know that it is not happy with the Nasdaq stock exchange's offer of $62m compensation for the Facebook IPOcalypse. Citi went to town on how badly it thinks Nasdaq mishandled the first day of Facebook trading in a 17-page letter to SEC yesterday, published [PDF] by …
channel

Overland to ring Nasdaq bell, tease products

Overland, the always-struggling-to-not-go-bust-and-not-get-delisted-from-Nasdaq storage company, is going to ring the Nasdaq opening bell on Friday, October 14. Wherefore this return to Nasdaq grace? Overland will host an investor and analyst briefing at Nasdaq's market site the day before, with prezzies from Overland's execs …
Chris Mellor, 11 Oct 2011
The Register breaking news

Facebook set to file motion: Will blame NASDAQ for IPOcalpyse

Facebook is planning to file a motion in the US to consolidate all its shareholder lawsuits and blame the NASDAQ stock market for its disappointing IPO. The social network is finally planning to address the 30 or so lawsuits that have been filed against it after the botched handling of its stocks' opening day and their horrible …
The Register breaking news

Feds: Cyberpunks spied on Nasdaq directors

The same hackers who cracked into Nasdaq's computer systems last year apparently planted malware that allowed them to spy on publicly traded companies. The stock exchange previously said neither its trading systems nor its customer data were exposed by an attack that focused on a web-based app called Directors Desk. However an …
John Leyden, 21 Oct 2011
The Register breaking news

NASDAQ offers $40m to Facebook IPOcalypse investors

NASDAQ has offered Facebook investors a $40m apology pot for technical glitches that messed up the public sale of the social network's shares - much to the annoyance of rival exchanges. The stock market giant needs a thumbs up from regulators before it can hand over $26m (£16.7m) in trading discounts and $13.7m (£8.8m) in cash …
The Register breaking news

Nasdaq red-faced after software snafu stalls Facebook IPO

Nasdaq OMX chief Robert Greifeld has said he is "humbly embarrassed" by the technical glitch that held up Facebook's IPO on Friday. Greifeld said that problems with order cancellations interfered with the social network's debut, delaying it by more than two hours from the ringing of the bell at 9am EDT. "This was not our finest …
cloud

Overland back on the NASDAQ ropes

Disk storage, tape and virtual tape data protection vendor Overland Storage is facing being booted off the Nasdaq index once again due to its declining share price and company value. It is compiling a Nasdaq compliance report and intends to regain NASDAQ compliance and so preserve its ability to raise money at competitive rates …
Chris Mellor, 23 Nov 2010
lifebelt

Overland Storage in fiendish reverse stock split share value ploy

Overland Storage, the troubled tape and low-end scale-out disk array storage vendor, is wanting to do a reverse stock split to get its share price up above the Nasdaq exit level. This is revealed in an SEC Form-8K filing by Overland. It states: "On April 3, 2014, the Board of Directors of the Company approved a one-for-five (1- …
Chris Mellor, 04 Apr 2014
The Register breaking news

Nasdaq admits hackers planted malware on web portal

Nasdaq admitted on Saturday that unidentified hackers had succeeded in planting malware on one of its portals. The US stock exchange is keen to stress that trading systems were not affected by suspicious files found on Directors Desk, a web-based dashboard application used by an estimated 10,000 execs worldwide. In a statement, …
John Leyden, 07 Feb 2011
Tech Data

IT distie Tech Data must end accounts-unbungling probe within a fortnight

NASDAQ-listed Tech Data has less than a fortnight to get its accounts in order and financial filings up to date, the distributor acknowledged last night. The Florida-based broadline IT distribution giant discovered whopping great errors in its finance records at UK subsidiary C2000 back in March, which were related to blunders …
Paul Kunert, 13 Sep 2013
The Register breaking news

Yandex seeks kopeks in Nasdaq IPO

Yandex, the search engine that claims 64 percent of the market in Russia, is seeking as much as US$1 billion in an IPO put together by Deutsche Bank, Morgan Stanley and Goldman Sachs*. According to Reuters, new shares will be issued by Yandex’s parent company, and its existing owners will cash out some of their shares. The …
The Register breaking news

Another Overland Nasdaq delisting threat

Overland Storage was told by Nasdaq on December 15 that its stock would be delisted because its share value was below Nasdaq's $15m minimum. Overland shares are currently trading at $2.0, giving the company a market capitalisation of $12.68m. Delisting from Nasdaq would affect Overland's creditworthiness, potentially increasing …
Chris Mellor, 22 Dec 2009

Tech Data to close lid on accounting nightmare TOMORROW

Tech Data is about to wake up from the restatement nightmare that has troubled senior execs for nearly 11 months when it reports delayed fiscal '13 numbers tomorrow. The world's second largest tech wholesaler revealed in March that it discovered errors in vendor accounting which could wipe up to $33m off its bottom line for …
Paul Kunert, 04 Feb 2014
New York Stock Exchange, photo by Preslethe

NYSE preps for MILLIONS of trades in Twitter IPO stress-tests

In a bid to avoid a similar scenario to Facebook's IPOcalypse, the New York Stock Exchange ran a simulated market debut for Twitter shares over the weekend. The NYSE did a test run of the day Twitter’s stocks will go on sale to check if its systems will be able to handle the tidal wave of traffic the IPO could potentially …
arrow pointing up

Overland's Nasdaq market cap gap trap map

Back from the dead? It's a little too soon to say, but Overland Storage - threatened with costly ejection by Nasdaq because its market capitalisation was under $15m - has got a $12m stock issue to put that threat into touch. It's not a done Nasdaq deal yet, but the outcome seems pretty certain. CEO and president Eric Kelly said …
Chris Mellor, 22 Feb 2010

US stock markets unveil new IPOcalypse-BUSTERS to watchdogs

US stock exchanges have said that they’ve figured out how to help stop technical trading glitches, following orders from regulators to come up with new rules after trading on the NASDAQ ground to a halt for three hours in August. Market operators including NYSE Euronext and NASDAQ OMX said they had agreed on certain proposals …

Industry group blames 'outdated' kit for stock-market tech disasters

A US trade association for the stock market industry has called for an overhaul of the "outdated" technology systems that exchanges used for their share trading. The Securities Industry and Financial Markets Association (SIFMA) also told the Securities and Exchange Commission (SEC) that it was imperative that brokers, dealers …
Apple iPhone 6

iPhone 6, Watch: Hate it or really hate it, Apple's now a $604.77bn biz

As Apple unveiled its iPhone 6 and "the Watch" on Tuesday, its stock price went on a rollercoaster ride to $102.92 a share, then plummeted to $96.71, and now – after just one day of trading – it has settled on $101. That means, on Wednesday, Apple closed trading up $3.01 on the start of the day, a gain of 3.07 per cent. It was …
Shaun Nichols, 11 Sep 2014

Court flushes VirnetX's $368m check from Apple down the toilet

A US court has dashed a $368m windfall for technology hoarder VirnetX, which successfully sued Apple for patent infringement. The Federal Circuit Court of Appeals in Washington today tore up [PDF] the infringement damages figure given by a jury in a lower court – and sent the case back for reconsideration. A jury in the Eastern …
Shaun Nichols, 16 Sep 2014

Speaking in Tech: Forget Venezuela, Snowden. Go to Anna Chapman's pad!

speaking_in_tech Greg Knieriemen podcast enterprise It's another episode of El Reg's podcast, bringing you news, views, and rumours about enterprise kit, tech execs' shenanigans, consumer baubles and more... Hiding out from the NSA this week are all three SIT presenters: Greg Knieriemen, Sarah Vela and Ed Snowden Saipetch. …
Team Register, 10 Jul 2013
The Register breaking news

Wall St 'Likes' Facebook again: Shares edge up to pre-IPOcalypse price

It's been 14 months since Facebook debuted on Wall Street and the company has finally rebounded to its initial public offering share price of $38. On Tuesday, the free content ad network's stock rose 7 per cent to $37.96 - just a whisker away from its 18 May 2012 IPO price tag. Facebook saw its shares hit repeated snags: first …
Kelly Fiveash, 31 Jul 2013
management governance3

Clock ticking for IT distie Tech Data to end accounts probe

IT channel biz Tech Data has until September to get its house in order - because that's when it must file all its delayed financial reports to regain compliance with NASDAQ rules. The world's second largest tech distributor missed the deadline for filing its Q1 2013 results this month, some 45 days after the end of the quarter …
Paul Kunert, 20 Jun 2013

Twitter #blabbergasm explodes as shares soar close to $50 on NYSE

A profit-starved Twitter saw its shares debut on the New York Stock Exchange today with a price tag $45.10. The micro-blogging site, which earlier this week issued an explanation to would-be investors about what its service actually offers, set its initial public offering price at $26 last night. First indications from the …
Kelly Fiveash, 07 Nov 2013
The Register breaking news

Overland off Nasdaq non-compliance hook - for now

Struggling data protection vendor Overland Storage has avoided being booted off the main Nasdaq index because of its weak share price and market capitalisation. It's now off the delisting hook "because the company currently meets an alternative maintenance standard." On February 19 Overland received a Nasdaq Staff Deficiency …
Chris Mellor, 23 Mar 2009

Tech Data: UK accounting errors cost us $27m

Tech Data (TD) has turned to "external experts" to beef up fraud detection measures after it emerged that righting accounting wrongs at its UK sub had wiped $27m (£16.55m) off net profits for the last three years. The restatement equates to three per cent of income made during fiscal '11, '12 and '13, the periods that forensic …
Paul Kunert, 05 Feb 2014

Spansion gets Nasdaq delisting notice

Floundering flash mem giant Spansion has received a delisting notice from the Nasdaq stock exchange. The Sunnyvale, California-based company says the notice arrived in part because of its recent Chapter 11 bankruptcy filing. A joint venture of AMD and Fujitsu, Spansion is the world's third-largest flash maker. But its NOR flash …
Cade Metz, 11 Mar 2009
Vulture

Activist investors DESTROY COMPANIES. Don't get me started on share dealings...

Public companies have four groups of stakeholders: shareholders; execs paid with share performance in mind; other workers; and their customers. Shareholders and share value-incentivised execs are ripping the heart out of many public companies, siphoning off their wealth, going for short-term in favour of long-term interests, and …
Chris Mellor, 09 Oct 2014

Overland Storage and BDT end four-year-long patent spat

Overland Storage and BDT have terminated their four-year lawsuit in which Overland sued BDT for allegedly using its intellectual property unlawfully. Tape automation product supplier Overland commenced its action against German tape automation supplier BDT concerning tape media handling in tape libraries. It did so on a no win/ …
Chris Mellor, 31 Jul 2014
Bell Microproducts

NASDAQ delists Bell Micro for late filing

Bell Microproducts lost its NASDAQ listing today because it can't get its act together on financial filings. Surprise, surprise, shares in the computer distributor sank 31 per cent to $1.94 on the news. Expect another plunge tomorrow when Bell Micro stock starts trading on the Pink Sheets. The delisting and lack of audited …
Drew Cullen, 18 Mar 2008
Facebook down

Joe Average isn't worth $10 a year to Mark Zuckerberg

You're not worth $US10 a year to Mark Zuckerberg. That's one of the many factoids revealed in The Social NetworkTM's new Form 10-Q (PDF) filed last Friday. One item of interest is that the US Securities and Exchange Commission (SEC) has decided not to investigate Facebook's 2012 float. The Social Network's big day was spoiled …
Simon Sharwood, 28 Jul 2014

Dell nemesis Icahn offers Apple's Tim Cook slap-up grub in share buy bid

Investor Carl Icahn - best known for trying to stop Mike Dell from taking Dell the company private - has applied more gentle pressure to Apple boss Tim Cook to get the chief exec to beef up the iPhone maker's share buyback. During the Nasdaq outage, Icahn tweeted that he'd been chatting to Cook and was planning a dinner with the …
The Register breaking news

Nasdaq grumbles at Dell . . . again

Pulling Dell off the Nasdaq would be as criminal as prying a billionaire away from his brain glaze. But that's exactly what might happen if the computer maker fails to get its book in order. Dell has received yet another de-listing notice from the Nasdaq exchange. The Wall Street types have chided Dell for not handing in …
Ashlee Vance, 10 Apr 2007
Doomsday clock

Tick-tock, CDW: Mega reseller has 30 months to buy the rest of Kelway

The clock is ticking for NASDAQ-listed CDW to hoover up the remaining share base of Kelway – or leave it for someone else to slurp. As revealed first by The Channel yesterday, the world’s largest tech reseller bought a 35 per cent stake in London-based Kelway in a deal that values the overall business at around £262m. Under the …
Paul Kunert, 07 Nov 2014
The Register breaking news

Facebook is off the IPOcalypse hook... for NOW

A US judge has thrown out a set of four shareholder cases against Facebook, Mark Zuckerberg and other senior staff over its IPOcalypse, and although it still faces many more, things are looking up for Zuck. All four suits rested on allegations that the social network and its officers had withheld certain information from …
Tech Data

Tech Data: Computer 2000 brand taken out back and shot...today

The Computer 2000 brand is to be retired from today as the UK arm of Tech Data adopts its parent's name tag. The timing is interesting, given that C2000 – or the company formerly known as C2000 – is the subject of an ongoing investigation into vendor accounting improprieties. In a letter sent to vendor customers, seen by El …
Paul Kunert, 07 Oct 2013