The stock opened sharply lower, but then climbed steadily back
Source: XETRA
Traders on the Frankfurt exchange reacted swiftly Thursday to the news that Apple (AAPL) CEO Steve Jobs had submitted his resignation the day before, effectively immediately.
The stock opened 17.6 euros (6.78%) lower -- a even stronger reaction than was registered in after-hours trading on NASDAQ.
But cooler heads prevailed. By 7:45 a.m. EDT -- an hour and 45 minutes before markets were set to open in New York -- Apple shares had leveled off at €245, down only €5.28 (2.04%).
Perhaps the news had been priced into the stock after all.
UPDATE: Apple shares climbed to within 1.3 euros (0.05%) of Wednesday's closing price in Frankfurt before dropping again, apparently in sympathy with New York, where Apple opened Thursday at $365.01, down $11.17 (4.3%).
Prices are zooming in the Bay Area as startups hire and new techies flock to town.
FORTUNE -- Whether we're living through another tech bubble remains hotly contested, but there's no denying its impact on one market: rental apartments in San Francisco. With Twitter, Zynga, and numerous other local startups hiring in droves, all those newbies need somewhere to live.
In the trendy SoMa and South Beach neighborhoods, says Paul MORE
JP Mangalindan, Writer-Reporter - Jun 27, 2011 5:00 AM ET
By Sunday, Gene Munster's team couldn't find an Apple tablet for sale at any retail outlet
Apple Fifth Avenue Store Friday afternoon. Photo: PED
Gene Munster's team at Piper Jaffray walked the iPad 2 lines in New York City and Minneapolis and interviewed 236 would-be buyers. They also called various retailers (Apple stores, Target, Best Buy, etc.) looking for product. The results of their survey were released Sunday night. Their findings:
Munster MORE
Philip Elmer-DeWitt - Mar 13, 2011 8:39 PM ET
A curated selection of the weekend's most newsworthy tech stories from all over the Web.
"The iPhone is built for speed, but that's not what you get with a CDMA phone. I'm not sure iPhone users are ready for life in the slow lane." -- AT&T PR head Larry Solomon on the upcoming Verizon iPhone
Chances are very, very good Verizon will finally give millions of smartphone-toting Americans the one thing they've clamored MORE JP Mangalindan, Writer-Reporter - Jan 10, 2011 6:00 AM ET
Think/Do Tank is advertising for job candidates.
Jared Cohen in 2007. Image Credit: Washington Life Magazine
With the purchase of its New York home behind it, Google (GOOG) now has some space to grow its new initiatives. One of the most noteworthy of the past year was picking up former U.S. State Department and '21st Century Statecraft' specialist Jared Cohen to start Google Ideas.
If you aren't familiar with Cohen, he's the MORE
Seth Weintraub - Dec 28, 2010 3:07 PM ET
The way startups raise money is changing, fast. Angels, super angels and VCs have to figure out the new rules, but that's good -- really good -- for founders themselves.
By JS Cournoyer, contributor
Paul Graham, YCombinator. Image via CrunchBase
I have been reading about the changing landscape of how technology companies get their initial outside funding after friends and family have chipped in. Seed or early stage investing, as it is MORE
Nov 8, 2010 4:29 PM ET
Despite rumored bids from Google and Yahoo and lawsuits from disgruntled small businesses, Geoff Donaker says the popular listings service is right where it wants to be -- connecting with the young and affluent.
Over the last year, popular business listings site Yelp experienced several notable developments -- and not all of them were welcome. The company founded in 2004 by former PayPal employees Jeremy Stoppelman and Russell Simmons, now serves MORE
JP Mangalindan, Writer-Reporter - Oct 12, 2010 11:56 AM ET
Over three million K-12 students in New York State will now have access to the same collaborative suite of online apps that many businesses use.
Google (GOOG) has now enabled schools in five different states to use Google Apps in their education departments, statewide. New York was added to the list today. Those three million students in New York State will be able to send and receive e-mail, share calendars and documents and MORE
Seth Weintraub - Oct 5, 2010 2:13 PM ET
A sneak peek at Manhattan's fourth Apple Store, set to open Saturday Nov. 14
Photo: Philip Elmer-DeWitt
The Upper West Side, that bastion of liberal thinking and discretionary spending nestled between Central Park and the Hudson River on the island of Manhattan, is finally getting its own Apple Store.
The retail outlet -- Apple's 279th and the city's fourth -- is scheduled to open Saturday morning. On Thursday, the press got an MORE
Philip Elmer-DeWitt - Nov 12, 2009 11:04 AM ET
Here are two postcards from the front lines of the smartphone wars.
The first, at right, shows three college students from Monclair, N.J. -- Matt Dodd, 18, Sam Epstein,18, and Keith Hobin, 19 -- huddled under borrowed umbrellas in front of Apple's (AAPL) flagship New York Fifth Avenue store to buy the latest in multitouch cellular technology.
They arrived at 7 a.m. EDT, 24 hours before Apple is scheduled to begin selling MORE
Philip Elmer-DeWitt - Jun 18, 2009 3:14 PM ETEvery morning, discover the companies, deals and trends in tech that are moving markets and making headlines. SUBSCRIBE
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| Company | Price | Change | % Change |
|---|---|---|---|
| Bank of America Corp... | 7.95 | -0.16 | -1.97% |
| Microsoft Corp | 31.27 | -0.17 | -0.54% |
| Ford Motor Co | 12.28 | -0.25 | -2.00% |
| General Electric Co | 19.39 | 0.17 | 0.88% |
| Citigroup Inc | 32.36 | -1.00 | -3.00% |
| Index | Last | Change | % Change |
|---|---|---|---|
| Dow | 12,938.67 | -27.02 | -0.21% |
| Nasdaq | 2,933.17 | -15.40 | -0.52% |
| S&P 500 | 1,357.66 | -4.55 | -0.33% |
| Treasuries | 2.00 | -0.04 | -1.96% |
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