The half-hour suspension on the first day of the trading week at the Egyptian Exchange failed to cool a frenzy of selling by investors. The EGX30 benchmark index closed 4.22% lower, or at 7,894.7 points, continuing to slide after trading was suspended after the broader EGX100 index fell by 5%.
Trading suspensions are a safety measure set up in the weeks following the 2011 uprising against longtime autocrat Hosni Mubarak to ward off what many feared would be a market collapse. The stock market closed for more than two months after the revolt.
Since the revolt, consecutive governments have struggled with shrinking revenues, drying foreign reserves and bloated public expenditures, continuously under pressure by protesters demanding higher wages and improved social services.
5 Best Regional Bank Stocks To Invest In Right Now: Chindex International Inc.(CHDX)
Chindex International, Inc. engages in the provision of healthcare services; and sale of medical equipment, instrumentation, and products. The company operates in two segments, Healthcare Services and Medical Products. The Healthcare Services segment owns and operates the United Family Healthcare network of private hospitals and clinics in the Beijing, Shanghai, and Guangzhou markets. This segment also operates a managed clinic in the city of Wuxi, south of Shanghai. It offers a range of family healthcare services, including 24/7 emergency rooms, intensive care units, and neonatal intensive care units, operating rooms, clinical laboratory, radiology, and blood banking services for men, women, and children. The Medical Products segment markets, distributes, and sells medical capital equipment, instrumentation, and other medical products for use in hospitals in China and Hong Kong. It offers diagnostic color ultrasound imaging devices, robotic surgical systems and instrument ation, mammography and breast biopsy devices, and lasers for cosmetic surgery. This segment sells its products through its direct sales force. The company was founded in 1981 and is based in Bethesda, Maryland.
Advisors' Opinion:- [By Anna Prior]
Among the companies with shares expected to actively trade in Monday’s session are Citigroup Inc.(C), JA Solar Holdings(JASO) Co and Chindex International Inc.(CHDX)
- [By Jake L'Ecuyer]
Leading the sector was strength from Forest Laboratories (NYSE: FRX) and Chindex International (NASDAQ: CHDX) on acquisition news. In trading on Tuesday, non-cyclical consumer goods & services shares were relative laggards, down on the day by 0.2%.
- [By Jake L'Ecuyer]
Leading and Lagging Sectors
Tuesday morning, the healthcare sector proved to be a source of strength for the market. Healthcare stocks surged 1% in today's trading. Leading the sector was strength from Forest Laboratories (NYSE: FRX) and Chindex International (NASDAQ: CHDX) on acquisition news.
Top 10 Rising Companies To Invest In Right Now: Elisa Oyj (ELI1V)
Elisa Oyj is a Finland-based Company engaged in the provision of Information and Communication Technology (ICT) services in Finland and Estonia. The Company operates within two business segments: Consumer Customers and Corporate Customers. The Consumer Customers segment provides consumers and households with telecommunications services, such as voice and data services. The Corporate Customers segment provides to the corporate and community customers voice and data services, ICT solutions and contact center services. All the services are provided under the Elisa and Saunalahti brands. The Company�� global alliance partners are Vodafone and Telenor. The Company operates through its subsidiaries, including Appelsiini Finland Oy, Arediv Oy, Ecosite Oy and Elisa Eesti As, among others. Advisors' Opinion:- [By Adam Ewing]
A sale would provide the shareholders with cash, while potentially strengthening DNA against larger rivals Elisa Oyj (ELI1V) and TeliaSonera AB. (TLSN) The IPO could be the biggest in Finland, home of Nokia Oyj (NOK1V) and ��ngry Birds��maker Rovio Entertainment Oy, since 2005.
Top 10 Rising Companies To Invest In Right Now: Avista Corporation (AVA)
Avista Corporation, an energy company, engages in the generation, transmission, and distribution of energy and other energy-related businesses in the United States and Canada. It operates in two segments, Avista Utilities and Advantage IQ. The Avista Utilities segment involves in the generation, transmission, and distribution of electricity primarily from hydroelectric and thermal sources. It also engages in the distribution of natural gas to retail customers in eastern Washington, northern Idaho, and parts of northeast and southwest Oregon, as well as in the wholesale purchase and sale of electricity and natural gas. As of December 31, 2010, this segment operated facilities with a total net capability of 1,791 mega watts, as well as provided retail electric service to 359,000 customers; and retail natural gas service to 319,000 customers. This segment offers electricity and natural gas to residential, commercial, and industrial customers. The Advantage IQ segment provides sustainable utility expense management and energy management solutions to multi-site companies in North America. It offers invoice processing, auditing and payment services, energy procurement, reporting, advanced analysis, and consulting services. In addition, the company engages in the custom sheet metal fabrication of electronic enclosures, parts, and systems for the computer, telecom, renewable energy, and medical industries; real estate investments, primarily commercial office buildings; and investing in emerging technology venture capital funds and low income housing. Avista Corporation was founded in 1889 and is headquartered in Spokane, Washington.
Advisors' Opinion:- [By Seth Jayson]
Calling all cash flows
When you are trying to buy the market's best stocks, it's worth checking up on your companies' free cash flow once a quarter or so, to see whether it bears any relationship to the net income in the headlines. That's what we do with this series. Today, we're checking in on Avista (NYSE: AVA ) , whose recent revenue and earnings are plotted below. - [By Seth Jayson]
Calling all cash flows
When you are trying to buy the market's best stocks, it's worth checking up on your companies' free cash flow once a quarter or so, to see whether it bears any relationship to the net income in the headlines. That's what we do with this series. Today, we're checking in on Avista (NYSE: AVA ) , whose recent revenue and earnings are plotted below. - [By Dividends4Life]
Starting in 2013 the federal tax rates on qualified dividends are 0%, 15% and 20%. The 20% rate is for taxpayers in the 39.6% tax bracket. For those in the 10% and 15% brackets, there is no tax on qualified dividends. In contrast, ordinary income is taxed at rates up to up to 39.6%. Below are several stocks that have consistently paid dividends through depressions, recessions, world wars, and other political and economic upheavals:WGL Holdings Inc. (WGL) provides natural gas service in the Washington, DC, metropolitan area and surrounding regions, including Maryland and Virginia. Yield: 4.1% | Paid Dividends Since: 1852Exxon Mobil Corp. (XOM), formed through the merger of Exxon and Mobil in late 1999, is the world's largest publicly owned integrated oil company. Yield: 2.7% | Paid Dividends Since: 1882Consolidated Edison, Inc. (ED) is an electric and gas utility holding company serves parts of New York, New Jersey and Pennsylvania. Yield: 4.4% | Paid Dividends Since: 1885The Procter & Gamble Company (PG) is a leading consumer products company that markets household and personal care products in more than 180 countries. Yield: 3.2% | Paid Dividends Since: 1891The Coca-Cola Company (KO) is the world's largest soft drink company, KO also has a sizable fruit juice business. Yield: 2.9% | Paid Dividends Since: 1893General Mills, Inc. (GIS) is a major producer of packaged consumer food products, include cereal, yogurt and Betty Crocker desserts/baking mixes. Yield: 3.0% | Paid Dividends Since: 1898Avista Corp. (AVA) generates, transmits and distributes energy as well as engages in energy-related businesses in the United States and Canada. Yield: 3.0% | Paid Dividends Since: 1899MGE Energy Inc. (MGEE) is a public utility holding company that supplies electric service to apx. 140,000 customers; and natural gas service to apx. 145,000 customers in Wisconsin (as of December 2012). Yield: 2.8% | Paid Dividends Since: 1909Xcel Energy Inc. (XEL) offers energy-related prod
Top 10 Rising Companies To Invest In Right Now: Steelcase Inc.(SCS)
Steelcase Inc. designs, manufactures, and distributes furniture systems and seating products, user-centered technologies, and interior architectural products primarily in North America, Europe, and Asia. Its furniture systems portfolio consists of panel-based and freestanding furniture systems; and complementary products, such as storage, tables, and ergonomic worktools. The company also provides seating products, including ergonomic chairs; seating for collaborative or casual settings; and specialty seating for specific markets comprising healthcare and education. In addition, its interior architectural products include full and partial height walls and doors. Further, the company offers workplace strategy consulting, lease origination, and furniture and asset management services. Additionally, it designs, manufactures, and sells visual communication products, such as static and interactive electronic whiteboards to primary and secondary education markets, as well as manu factures and sells steel and ceramic surfaces to third-party fabricators for use in the manufacture of static whiteboards. It also designs and sells surface materials comprising textiles, wall coverings, shades, screens, and surface imagings primarily to architects and designers for use in business, residential, healthcare, and hospitality applications. It sells its products to corporate, government, healthcare, education, and retail customers through the Steelcase, Turnstone, Details, and Nurture brands; and Coalesse and Designtex brands. The company markets its products and services through a network of independent and company-owned dealers, as well as directly to end-use customers. The company was founded in 1912 and is headquartered in Grand Rapids, Michigan.
Advisors' Opinion:- [By John Kell var popups = dojo.query(".socialByline .popC"); popups.forEach(func]
Steelcase Inc.(SCS) swung to a fiscal fourth-quarter profit amid growth in the company’s Americas business. The year-earlier period included big asset write-downs and restructuring-related charges. Shares climbed 9.5% to $15.96 premarket.
- [By Rick Aristotle Munarriz]
Bloomberg via Getty ImagesSteelcase, a leading maker of office furniture, reports this week; its earnings are a bellwether of how corporate America is faring. You can never know in advance all the news that will move the market in a given week, but some things you can see coming. From a pair of leading office furniture companies reporting on the same day to a popular used-car seller showing off its showroom, here are some of the things that will help shape the week that lies ahead on Wall Street. Monday -- New Energy for the New Week: The new trading week kicks off with FuelCell Energy (FCEL) reporting. The builder of fuel cell power plants reports its latest quarterly results after the market closes on Monday. It's been 10 years since FuelCell completed its first commercial fuel cell plant installation. Business is starting to pick up, as it has as many orders over the past two years combined as it did during the eight previous years combined. Revenue should continue to grow as FuelCell grows closer to profitability. Tuesday -- Lone Wolf: Disney's (DIS) "The Lone Ranger" was a flop earlier this year. It failed to break $90 million in domestic box office receipts, and the $260 million it amassed in gross ticket sales worldwide wasn't enough to offset its massive production budget and cinematic distribution. Disney had fared well with Johnny Depp and director Gore Verbinski before. The two teamed up for the blockbuster success of Disney's "The Pirates of the Caribbean" movie series. It convinced a jaded audience to return to the local multiplex for a movie about swashbucklers. But it couldn't revive the Western genre this time around. Despite being a box office bomb, "The Lone Ranger" will get a chance at new life in the home market. It comes out on Blu-ray and DVD on Tuesday. Wednesday -- Office Space: When it comes to stocks, it's safe to say that Steelcase (SCS) and Herman Miller (MLHR) aren't exactly the busy bees of the exchanges. On a typical day you w
Top 10 Rising Companies To Invest In Right Now: Helmerich & Payne Inc (HP)
Helmerich & Payne, Inc., incorporated on February 29, 1944, is engaged in contract drilling of oil and gases wells for others and this business. The Company's contract drilling business is composed of three reportable business segments: U.S. Land, Offshore and International Land. During the fiscal year ended September 30, 2012 (fiscal 2012), the Company's U.S. Land operations drilled in Oklahoma, California, Texas, Wyoming, Colorado, Louisiana, Pennsylvania, Ohio, Utah, Arkansas, New Mexico, Montana, North Dakota and West Virginia. Offshore operations were conducted in the Gulf of Mexico, and offshore of California, Trinidad and Equatorial Guinea. During fiscal 2012, the Company's International Land segment operated in six international locations: Ecuador, Colombia, Argentina, Tunisia, Bahrain and United Arab Emirates. The Company is also engaged in the ownership, development and operation of commercial real estate and the research and development of rotary steerable technology. Each of the businesses operates independently of the others through wholly owned subsidiaries. The Company's real estate investments located exclusively within Tulsa, Oklahoma, include a shopping center containing approximately 441,000 leasable square feet, multi-tenant industrial warehouse properties containing approximately one million leasable square feet and approximately 210 acres of undeveloped real estate. The Company's subsidiary, TerraVici Drilling Solutions, Inc. (TerraVici), is developing rotary steerable technology. As of September 30, 2012, it had 176 rigs under fixed-term contracts. During fiscal 2012, the Company leased a 150,000 square foot industrial facility near Tulsa, Oklahoma for the purpose of overhauling/repairing rig equipment and associated component parts.
U.S. Land Drilling
As of September 30, 2012, the Company had 282 of its land rigs available for work in the United States. During fiscal 2012, the Company's U.S. Land operations contributed approximately 85% of the Compan! y's consolidated operating revenues. During fiscal 2012, rig utilization was approximately 89%. During fiscal 2012, the Company's fleet of FlexRigs had an average utilization of approximately 97%, while the Company's conventional and mobile rigs had an average utilization of approximately 11%. As of September 31, 2012, 231 out of an available 282 land rigs were working.
Off Shore Drilling
During fiscal 2012, the Company's Offshore operations contributed approximately 6% of the Company's consolidated operating revenues. During fiscal 2012, rig utilization was approximately 79%. During fiscal 2012, the Company had eight of its nine offshore platform rigs under contract and continued to work under management contracts for four customer-owned rigs. During fiscal 2012, revenues from drilling services performed for the Company's offshore drilling customer totaled approximately 56% of offshore revenues.
International Land Drilling
During fiscal 2012, the Company's International Land operations contributed approximately 9% of the Company's consolidated operating revenues. During fiscal 2012, rig utilization was 77%. As of September 30, 2012, the Company had nine rigs in Argentina. During fiscal 2012, the Company's utilization rate was approximately 52%. During fiscal 2012, revenues generated by Argentine drilling operations contributed approximately 2% of the Company's consolidated operating revenues. The Argentine drilling contracts are with international or national oil companies. As of September 30, 2012, the Company had seven rigs in Colombia. During fiscal 2012, the Company's utilization rate was approximately 79%. During fiscal 2012, revenues generated by Colombian drilling operations contributed approximately 3% of the Company's consolidated operating revenues. During fiscal 2012, revenues from drilling services performed for the Company's customer in Colombia totaled approximately 1% of consolidated operating revenues and approximately 16% of inter! national ! operating revenues. The Colombian drilling contracts are with international or national oil companies. As of September 30, 2012, the Company had five rigs in Ecuador. During fiscal 2012, the utilization rate in Ecuador was 97%. During fiscal 2012, revenues generated by Ecuadorian drilling operations contributed approximately 2% of consolidated operating revenues. As of September 30, 2012, the Company had two rigs in Tunisia, four rigs in Bahrain and two rigs in United Arab Emirates.
Advisors' Opinion:- [By Ben Levisohn]
As a result, the knives have come out. Cowen’s analysts downgraded six stocks–Baker Hughes (BHI), Cameron International (CAM), Nabors Industries (NBR), CGG (CGG), Superior Energy Services (SPN) and Helmerich & Payne (HP)–and cut their estimates on even more. Its analysts explain why:
- [By Dividends4Life]
Helmerich & Payne Inc. (HP) is the holding company for Helmerich & Payne International Drilling Company, an international drilling contractor.
Yield: 3.0% | Years of Dividend Growth: 41 - [By WWW.GURUFOCUS.COM]
Shares of Helmerich & Payne, Inc. (HP), the leading land drilling contractor in the U.S., rose significantly in the first quarter. Over the past three years, Helmerich's market share has increased to 23% from 16%, while generating higher margins and returns than its main competitors. Its share price benefited from growing optimism that U.S. horizontal drilling activity will increase, spurring customer demand for new rigs. Helmerich also signed its biggest international contract in a decade in the first quarter. Helmerich is a best-in-class operator and remains a core position. (James Stone)
Top 10 Rising Companies To Invest In Right Now: Barnes & Noble Inc (BKS)
Barnes & Noble, Inc. (Barnes & Noble), incorporated on November 19, 1986, is a bookseller. The Company is a content, commerce and technology company that provides customers access to books, magazines, newspapers and other content across its multi-channel distribution platform. As of April 27, 2013, it operated 1,361 bookstores in 50 states, 686 bookstores on college campuses, and operates one of the Web eCommerce sites, and develops digital content products and software. Barnes & Noble operates in three segments: B&N Retail, B&N College and NOOK. The Company�� principal business is the sale of trade books (generally hardcover and paperback consumer titles), mass market paperbacks (such as mystery, romance, science fiction and other popular fiction), children�� books, eBooks and other digital content, NOOK and related accessories, bargain books, magazines, gifts, cafe products and services, educational toys & games, music and movies direct to customers through its bookstores or on barnesandnoble.com.
Of the Company�� 1,361 bookstores, 675 operate primarily under the Barnes & Noble Booksellers trade name. Barnes & Noble College Booksellers, LLC (B&N College), a wholly owned subsidiary of Barnes & Noble, operates 686 college bookstores at colleges and universities across the United States. Barnes & Noble Retail (B&N Retail) operates the 675 retail bookstores. Retail also includes the Company�� eCommerce site and Sterling Publishing Co., Inc. (Sterling or Sterling Publishing), a leader in general trade book publishing.
B&N Retail
This segment includes 675 bookstores as of April 27, 2013, primarily under the Barnes & Noble Booksellers trade name. These stores generally offer a dedicated NOOK area, a comprehensive trade book title base, a cafe, and departments dedicated to Juvenile, Toys & Games, DVDs, Music, Gift, Magazine and Bargain products. The stores also offer a calendar of ongoing events, including author appearances and children�� activities. The B&! N Retail segment also includes the Company�� eCommerce website, barnesandnoble.com, and its publishing operation, Sterling Publishing. Barnes & Noble stores range in size from 3,000 to 60,000 square feet depending upon market size, with an overall average store size of 26,000 square feet. During the fiscal year ended April 27, 2013 (fiscal), the Company reduced the Barnes & Noble store base by 0.3 million square feet, bringing the total square footage to 17.7 million square feet. The Company�� B&N Retail segment purchases physical books on a regular basis from over 800 publishers and over 50 wholesalers or distributors. As of April 27, 2013, Barnes & Noble had stores in 162 of the total 210 Designated Market Area markets.
Sterling Publishing is a publisher of non-fiction trade titles. It is a range of non-fiction and illustrated books and kits across a range of imprints, in categories, such as health and wellness, music and culture, food and wine, crafts and photography, puzzles and games, history and current affairs, as well as a children�� books.
B&N College
B&N College sells new and used textbooks in campus bookstores and online. As of April 27, 2013, B&N College operated 686 stores nationwide. The Company�� customer base, which is mainly consisted of students and faculty, can purchase various items from their campus stores, including textbooks and course-related materials, emblematic apparel and gifts, trade books, computer products, NOOK products and related accessories, school and dorm supplies, convenience and cafe items.
As of April 27, 2013, B&N College operates 651 traditional college bookstores and 35 academic superstores, which are generally larger in size, offer cafes and provide a sense of community that engages the surrounding campus and local communities in college activities and culture. The traditional bookstores range in size from 500 to 48,000 square feet. The academic superstores range in size from 8,000 to 75,000 square feet. B&! N College! �� three customer constituencies are students, faculty members and campus administrators.
NOOK
This segment includes the Company�� digital business, which includes the Company�� eBookstore, digital newsstand and sales of NOOK devices and accessories to third party distribution partners, as well as to B&N Retail and B&N College. Barnes & Noble�� NOOK digital bookstore and Reading Apps provide customers the ability to purchase and read their digital content and access to their Lifetime Library on a range of digital platforms, including Windows 8 PCs and tablets, iPad, iPhone , Android smartphones and tablets, PC and Mac. Barnes & Noble has implemented features on its digital platform to ensure that customers can access their NOOK content from almost all of today�� most popular devices.
The Company competes with Target, Books-A-Million, Waldenbooks, Amazon.com, Apple, Wal-Mart and Costco.
Advisors' Opinion:- [By Holly LaFon] rams added 2,115,229 shares of Barnes and Noble in the first quarter, equal to 3.54% of the company�� shares outstanding and making the company 3.5% of his portfolio.Barnes and Noble had a share price average of $17 per share in the first quarter, and has increased by 14% since.Barnes & Noble Inc. was incorporated in Delaware in 1986. Barnes & Noble Inc. has a market cap of $1.2 billion; its shares were traded at around $20.06 with and P/S ratio of 0.20.Increase ��J.C. Penney (JCP)Abrams increased his slight position in J.C. Penney by 50% in the first quarter, adding 500,000 shares at an average price of $7 to his stake started the previous quarter of 1 million shares purchased at an average price of $8. This holding represents 1% of his portfolio after the increase. The price has since moved up to around $8.68 on Wednesday.J. C. Penney Company Inc. was incorporated in Delaware in 2002. J.C. Penney Co. Inc. has a market cap of $2.65 billion; its shares were traded at around $8.69 with a P/S ratio of 0.20.For more David Abrams (Trades, Portfolio) stocks, visit his portfolio here. Not a Premium Member of GuruFocus? Try it free for 7 days here!Also check out: David Abrams Undervalued Stocks David Abrams Top Growth Companies David Abrams High Yield stocks, and Stocks that David Abrams keeps buying Currently 5.00/512345
Rating: 5.0/5 (2 votes)
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�Equities Trading DOWN
Shares of Barnes & Noble (NYSE: BKS) were down 14.16 percent to $18.98 after Liberty Media lowered its stake in the company. - [By Ben Levisohn]
Shares of Barnes & Noble (BKS) are tumbling for a second day after�John Malone’s Liberty Media (LMCA) said it would sell most of its stake in the struggling book seller.
REUTERSIn a report released yesterday, Credit Suisse analysts�Gary Balter and�Andrew Kinder note that Liberty Media’s exit could mean the end of the line for Barnes & Noble’s Nook:
The removal of Liberty Media as a significant investor in [Barnes & Noble] also seems to be another signal in the company’s strategic shift with managing the NOOK. Similar to CEO William Lynch’s departure, it appears those most interested in growing the NOOK platform have now left. Under new management, the new strategy being implemented for the NOOK is one where cost cuts are emphasized and attempts are made to monetize, not grow, the remaining assets. This strategy has decreased the value drag of the NOOK this year. However, it is too [early] to see to what extent this strategy will result in the ability for shareholders to see just the positive EBITDA contributions from Retail and College, something that the bulls are currently hoping for.
Shares of Barnes & Noble have dropped 4.8% to $18.19 at 3pm today, while Liberty Media is off 2.4% at $1127.30.
Top 10 Rising Companies To Invest In Right Now: The NASDAQ OMX Group Inc.(NDAQ)
The NASDAQ OMX Group, Inc. provides trading, clearing, exchange technology, securities listing, and public company services worldwide. It offers trading across various asset classes, including cash equities, derivatives, debt, commodities, structured products, and exchange traded funds; capital formation solutions; financial services and exchanges technology; market data products; and financial indexes, as well as clearing, settlement, and depository services. The company also provides broker services comprising technology and customized securities administration solutions, such as back-office systems to financial participants. In addition, it offers global listing services; technology solutions for trading, clearing, settlement, and information dissemination; and facility management integration, surveillance solutions, and advisory services, as well as develops and licenses NASDAQ OMX branded indexes, associated derivatives, and financial products. As of December 31, 2010 , a total of 2,778 companies listed securities on The NASDAQ Stock Market. The NASDAQ OMX Group supports the operations of approximately 70 exchanges, clearing organizations, and central securities depositories. The company was formerly known as The Nasdaq Stock Market, Inc. and changed its name to The NASDAQ OMX Group, Inc. in February 2008. The NASDAQ OMX Group, Inc. was founded in 1971 and is based in New York, New York.
Advisors' Opinion:- [By Reuters]
Richard Drew/AP WASHINGTON -- The total value of the claims that market makers can recover after suffering losses due to Nasdaq OMX Group's (NDAQ) botched handling of Facebook Inc.'s (FB) initial public offering is $41.6 million, the exchange operator said Friday. The claims figure, which was calculated by Wall Street's industry-funded watchdog the Financial Industry Regulatory Authority -- better known as Finra -- falls short of the $62 million that Nasdaq had initially set aside to repay brokerages that lost money. Nasdaq said the figure is lower in part because some claims didn't qualify for compensation under its plan. The main reason for the lower figure, however, was because one firm opted to try to recover funds through arbitration. The announcement didn't name the brokerage, which was UBS (UBS). UBS has pegged its losses from the glitch-ridden IPO at $350 million and was vocal in its decision to file an arbitration demand which claimed Nasdaq had violated a contract agreement. U.S. District Judge Robert Sweet, however, blocked the bank's arbitration proceeding over the summer on several grounds, including a determination that the bank's claims didn't fall within the scope of the arbitration provision in their services agreement. Facebook's problematic debut on the Nasdaq exchange on May 18, 2012, resulted from a systems failure that prevented the timely delivery of order confirmations and left more than 30,000 Facebook orders stuck in Nasdaq's system for more than two hours. Many brokerages were left in the dark wondering if their trades went through. Major market makers estimated they lost collectively up to $500 million in the IPO. Nasdaq devised a plan to compensate firms up to $62 million, and laid out the criteria for how firms can be eligible to file claims. The U.S. Securities and Exchange Commission approved the compensation plan in March, and Finra was put in charge of processing the claims for restitution. Several months after ap
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