August 3, 2012, 7:46 a.m. Knight Capital reportedly got a lifeline to let it keep operating for the day. By Andrew TANGEL:
"KNIGHT, a major stock brokerage based in Jersey City, N.J., got a much-needed credit line to continue operating for the day, according to the Wall Street Journal.
Knight has faced the prospect of collapse since it lost $440 million because of a trading software glitch. The amount it lost was nearly four times its profits for all of last year.
Wall Street has punished the stock. It has lost about 70% of its value this week. But in early trading on Friday, Knight's shares gained 61 cents, or 24%, to $3.19 a share.
Since the Wednesday trading loss, Knight has been looking for rescue financing or a buyer.
A Knight spokeswoman did not immediately respond to a request for comment Friday morning".
SOURCE / LINK / QUELLE dieser Kurz-Nachricht: http://www.latimes.com/business/money/...ine-20120803,0,4200151.story |