Markets
Associated Press/Photo by Kiichiro Sato

Musk wants to take Tesla private

by Lynde Langdon
Posted 8/08/18, 01:35 pm

Tesla CEO Elon Musk said Tuesday he wants to buy up company stock and remove it from public trading. Musk got the ball rolling after the stock market had been open more than three hours with a tweet announcing he had secured funding to buy all of Tesla’s stock at $420 per share. At that price, the company would cost nearly $72 billion, though Musk owns roughly 20 percent of the Palo Alto, Calif., electric car maker. The confusion caused by Musk’s announcement prompted regulators of the Nasdaq stock market to temporarily suspend trading in Tesla’s stock.

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Associated Press/Photo by Sal Veder

Apple becomes first public company valued at $1 trillion

by Kiley Crossland
Posted 8/02/18, 12:46 pm

Apple became the world’s first publicly traded company to be valued at $1 trillion on Thursday. The company’s shares rose 2.7 percent to an all-time high of $207.05 around midday, up 22 percent so far this year. The milestone comes 42 years after Steve Jobs and Steve Wozniak co-founded the stylish, cutting-edge tech company, and just two decades after a 1997 identity crisis, when the company stock price was less than $1. This week’s jump came after Apple reported strong results and higher prices for iPhones on Tuesday.

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Associated Press/Photo by John Minchillo

Dow Jones drops GE

by Kiley Crossland
Posted 6/20/18, 02:12 pm

The S&P Dow Jones Indices said Tuesday it will drop General Electric from the Dow Jones industrial average next week. Boston-based GE was an original member of the 30-company blue chip index in 1896 and has been a continuous member for more than 100 years. Drugstore chain Walgreens Boots Alliance will take GE’s slot in the list of the most stable publicly traded U.S. companies. Shares of GE have been in gradual decline since 2000 but especially shaky in recent years. Shares closed on Tuesday at $12.95, a 60 percent drop from a recent peak in July 2016.

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