Stock market slump unsettling Americans eying retirement
A stock market slump this year has taken a big bite out of investors’ portfolios, including retirement plans like 401(k)s.
Investing
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Indianapolis marketing agency plans expansion after major investment
TrendyMinds Inc. has secured an eight-figure investment and plans to establish new regional offices in Florida and Texas while increasing employment in Indianapolis.
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IBJ Podcast: Columnist Mickey Kim on surviving a volatile stock market
“When things get rocky, we want to protect ourselves,” Kim tells host Mason King. “We are thinking: Don’t just sit there, do something. And I will tell you: Doing something is the wrong thing to do.”
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Emmis makes stock buyback offer, seeking up to 2 million shares
The stock buyback offer, announced Thursday, applies to up to 2 million shares of Class A common stock at $2.60 per share, or more than $1 per share above the closing price of Emmis shares on Thursday.
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Stocks skid as virus fears shake markets; Dow falls 2.1%
Indianapolis-based shopping mall owner Simon Property Group was among the companies hit hard Monday, with its stock falling 5.9%, to $117.19 per share.
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Articles
Carmel man handed federal prison sentence for securities fraud
George R. McKown, 71, who was convicted of conspiracy to commit securities fraud and wire fraud, also was ordered to pay more than $5.2 million in restitution to his victims.
Target shares plunge 26% amid rout of retail stocks
Target Corp. is on pace for its worst stock drop since 1987’s Black Monday crash after becoming the second big retailer in two days to trim its profit forecast. Other retailers suffered steep drops in their stock prices Wednesday.
Indianapolis-based Centerfield launches $400M investment fund
The investment fund is Centerfield Capital Partners’ fifth, and the largest yet in the private-equity firm’s 24-year history.
Former Merrill Lynch broker Buck ordered to pay $7.5M in damages to former client
Thomas Buck built a reputation as one of the state’s top financial advisers before being sentenced to prison for securities fraud in 2019.
In wicked reversal, stock market has worst day in two years
The sell-off was a sharp reversal of fortunes after markets posted large gains on Wednesday, a whiplash caused by temporary confusion over the Federal Reserve’s approach to raising interest rates this year.
Dollar surges to 2-decade high as investors seek refuge
Rising inflation that has caused the biggest jump in prices in 40 years has spurred the Federal Reserve to aggressively raise interest rates, which increases demand for U.S. dollars.
Elon Musk to join Twitter’s board after becoming largest shareholder
Putting Musk on Twitter’s board and limiting the amount of stock he can acquire while as a director may be a strategic move on Twitter’s part.
Suddenly, Twitter’s biggest stakeholder is Tesla’s Elon Musk
Twitter co-founder Jack Dorsey stepped down as CEO in November. Musk’s stake in Twitter is now more than four times the size of Dorsey’s, who had been the largest individual shareholder.
Elon Musk takes 9.2% stake in Twitter; shares skyrocket
Twitter shares exploded 26% in premarket trading after the Securities and Exchange Commission filing showed that Musk snapped up more than 73 million shares, valued at $2.89 billion.
Q&A: Financial adviser John Sarson on why he’s bullish on cryptocurrency
He’s the CEO of Indianapolis-based Sarson Funds, which offers cryptocurrency-focused investments to financial advisers and accredited investors. He spoke to IBJ recently—not from his office, but from what he calls the firm’s “secret location,” a house in Carmel where staffers build computers and do crypto mining.
Local specialty chemicals firm lands $4.6M in funding round
MITO Material Solutions Inc. said it will use the investment to expand its Indianapolis operations, including new lab space for developing products and new composite material technologies.
World shares mixed as investors eye Ukraine, inflation
The concern that Russian troops could descend on the Ukrainian capital, Kyiv, a city of about 3 million people less than a three-hour drive away, has added to uncertainties for investors already jittery over central bank strategies to combat inflation.
Allos Ventures launches $75 million investment fund
Indianapolis-based Allos Ventures, which invests in early-stage business-to-business software companies in the Midwest, said it plans to start making investments from Allos IV right away.
U.S. stocks end January on a high note, but still chalk up worst month since March 2020
The S&P 500 index advanced 1.9%, reclaiming some of its January losses but still closing down nearly 5.9% in its worst monthly performance since March 2020. And the tech-heavy Nasdaq, still down 10% for January, climbed 3.4%, boosted by investors looking to buy the dip.
Dow drops 1,000 points as markets extend slide in 2022
Stocks extended their three-week decline on Wall Street and put the benchmark S&P 500 on track to a so-called correction—a drop of 10% or more from its most recent high.
Private equity firm that focuses on small companies inks 12 deals since 2018 launch
Monument Microcap Partners has also added three partners and two other employees, plus a branch office in the metro Detroit area.
Stocks end 2021 on weak note, but still notch huge yearly gain
The market kept setting new highs all year despite plenty of challenges, including rising inflation, global supply chain disruptions and outbreaks of more contagious variants of the COVID-19 virus.
Mickey Kim: Investors should resolve to ‘KISS’ in 2022
Investors consistently hurt themselves with wrong-footed attempts to “time the market” and by chasing past performance, when they would be far better off to “keep it simple, stupid,” or KISS.
Tech firm Genesys lands $580M in funding
The company, which offers cloud-based software and other products for call-center operators, has a significant presence in Indianapolis but it’s unclear how the recent investment might affect local operations.