After closing down almost 9 percent, shares of Computer Sciences Corp. continue to attract heavy attention. The company warned it may write down a $1.5 billion contract with Britain’s National Health Service.
Shares of Morgan Stanley are edging .20 percent higher in late trading after a report leaked that the bank plans on cutting 580 jobs in New York City. Other financial firms such as Goldman Sachs and Citigroup are trading lower on the news.
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Although IPOs such as LinkedIn Corp. , Groupon Inc. and Pandora Media Inc. have dominated headlines this year, other IPOs deserve some attention. Forbes recently released a list of the worst IPOs in 2011. The list contains FriendFinder Networks with a 94 percent lost from its IPO. Imperial Holding and Kips Bay Medical followed with losses of 83 percent and 79 percent, respectively. Mission New Energy Limited , Sequans Communications S.A. , Renren and Tudou Holdings also rounded out the list.
Shares of The New York Times Co. are jumping 1.6 percent in late trading. The media company announced it reached an agreement to sell its Regional Media Group to Halifax media Holdings for $143 million in cash.
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To contact the reporter on this story: Eric McWhinnie at staff.writers@wallstcheatsheet.com
To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com
