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The Speaker’s husband also increased tenfold his holdings in Apple Computer Inc. stock to at least $5 million, up from a minimum of $500,000 in 2006.
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Facebook this morning was expected to go public at about 8 a.m. PT. However, the shares didn't start trading until approximately 8:30 a.m. PT, causing some to wonder what might have caused the hiccup. During that period, Bloomberg reported that it had received an e-mailed statement from Nasdaq, saying only that it was "experiencing a delay."
According to The Wall Street Journal, the trouble might have started much earlier this morning. Sources the Journal spoke with said that traders were not able to confirm changes or cancellations made to Facebook orders starting as early as 4:30 a.m. PT. Later on in the morning, according to the Journal, traders had not received confirmation from Nasdaq that transactions had actually been completed.
For traders, the implications of a delay in confirmations are major. Without knowing if a sale went through, there's no telling if the transaction was locked in at the desired price. What's worse, the issue can cause some trouble between traders and their not-so-patient clients.
(Reuters) - Investors who want Facebook Inc shares when the No. 1 online social network goes public later this week may have lost the opportunity. TD Ameritrade and Fidelity's brokerage arm both stopped accepting orders of Facebook shares as of Tuesday evening, according to representatives for each of the companies.
Morgan Stanley & Co did the same, according to three advisers at the firm who declined to be named because they are not authorized to speak to the press. E*Trade Financial also stopped accepting orders as of 4 p.m. Eastern Tuesday, according to a client alert sent out that day.
Wells Fargo & Co's brokerage arm, Wells Fargo Advisors, stopped accepting new orders as of 4:00 p.m. EDT Wednesday, according to two advisers at the firm.
A Morgan Stanley spokesman and a Wells Fargo spokeswoman declined to comment.
Fidelity Brokerage, part of privately held FMR Corp in Boston, says it closed the offering period to qualified retail clients and registered investment advisers on Tuesday evening.
"The demand from customers is high," said Fidelity spokesman Stephen Austin. Fidelity has an exclusive retail distribution agreement with Deutsche Bank Securities, an underwriter in the Facebook deal.