The Traderszone Network

Published in TZ Latest News 19 September, 2014 by The TZ Newswire Staff

Wall St. flat as Oracle takes air out of Alibaba debut

Alibaba (BABA.N) took the spotlight after its initial public offering priced at $68 a share and rose as high as $99.70 before ending the session up 38 percent to $93.89. Shares of Yahoo (YHOO.O), which is selling part of its Alibaba stake but will remain a top shareholder, were volatile in heavy volume and closed down 2.7 percent at $40.93. “Alibaba was awesome. The Alibaba deal was done correctly, which is, you leave something on the table for investors to enjoy,” said Phil Orlando, chief equity market strategist at Federated Investors in New York.