Meridian Star

New Today

November 7, 2013

Twitter set for public stock debut on NYSE

(Continued)

NEW YORK —

On Monday, Twitter raised the price range to $23 and $25 per share, signaling an enthusiastic response from prospective investors. That its final price was above the expected range bodes well for the company.

As is customary on the NYSE, there will be a human designated to ensure that Thursday's IPO is not marred by technical glitches. Earlier on Wednesday, Barclays Capital said Twitter had hired it to be its "designated market maker," a critical role when a stock starts trading. A DMM is an experienced trader who supervises the trading of a company's stock on the NYSE. If technical problems arise, the NYSE uses DMMs to bypass electronic trading systems, allowing people to trade a company's stock. That is not possible on all-electronic stock exchanges such as the Nasdaq.

Twitter's shares enter a frothy market. The Dow Jones industrial average closed at a record high on Wednesday, up 128 points, or 0.8 percent, to 15,746. The Standard & Poor's 500 index rose seven points, or 0.4 percent, to 1,770, just one point below its own all-time high.

Text Only
New Today
Biz Marquee
New Today
Poll

A majority of House members approved a motion to sue President Obama for exceeding his constitutional boundaries. The lawsuit will focus on the presidents overhaul of health care. Do you think the lawsuit is warranted?

Yes
No
     View Results
Facebook
Facebook
Twitter Updates
Follow us on twitter
AP Video
Renewed Violence Taking Toll on Gaza Residents 2 Americans Detained in North Korea Seek Help US Employers Add 209K Jobs, Rate 6.2 Pct House GOP Optimistic About New Border Bill Gaza Truce Unravels; Israel, Hamas Trade Blame Raw: Tunisia Closes Borders With Libya Four Rescued From Crashed Plane Couple Channel Grief Into Soldiers' Retreat WWI Aviation Still Alive at Aerodrome in NY Raw: Rescuers at Taiwan Explosion Scene Raw: Woman Who Faced Death Over Faith in N.H. Clinton Before 9-11: Could Have Killed Bin Laden Netanyahu Vows to Destroy Hamas Tunnels Obama Slams Republicans Over Lawsuit House Leaders Trade Blame for Inaction
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide