Dow Jones Industrial Average closes at new all-time high, unofficially closes up 126 points at 14,254.
Microsoft Corp’s quarterly profit edged lower as Office software sales slowed ahead of a new launch, offsetting a solid but unspectacular start for its Windows 8 operating system and sending the company’s shares down 1.4 percent.
The results mark a stark change from the 1990s, when Microsoft was the unchallenged king of computing and the release of a new Windows operating system would supercharge sales, generate excitement and generally boost its stock.
None of that appears to be true now, as Microsoft has been overtaken by Apple Inc and Google Inc in the rush toward mobile computing, while sales of traditional desktop computers are in decline.
Empire State Realty Trust, owners of the iconic Empire State Building, filed to sell up to $1 billion of its Class A common stock, giving ordinary investors a chance to own a piece of the skyscraper that has been fought over by billionaires.
The tower, once the world’s tallest, has seen several owners over the decades and had been at the centre of a legal battle among the Malkin family — which controls the company — property tycoon Donald Trump and real estate heiress Leona Helmsley.
The Malkin family bought the property in 2002 but gained total control of the 102-story building only in 2010 after much wrangling.
Facebook filed for its hotly anticipated initial public offering on Wednesday, setting the stage for Silicon Valley’s largest-ever IPO.
The world’s largest social network, a dorm room project for Harvard dropout Mark Zuckerberg that exploded in popularity and vaulted to Silicon Valley’s top tier within 8 years , submitted preliminary IPO documents to the Securities Exchange Commission after weeks of frenzied speculation.
Read more: Facebook files for mega-IPO