Home / Markets / Industries / Finance
Monday, October 06, 2008
KKR Financial Shares Tumble After Downgrade
John Spence
MarketWatch Pulse
BOSTON -- Shares of KKR Financial Holdings LLC lost more than 20% on Monday morning and were one of the steepest percentage decliners on the New York Stock Exchange. J.P. Morgan analysts on Monday cut their ratings on KKR Financial shares to neutral from overweight. The analysts in a research note cited limited growth prospects for the company amid a worsening economic climate, Reuters reported. KKR Financial is an affiliate of private-equity giant Kohlberg Kravis Roberts & Co.
Copyright © 2008 MarketWatch, Inc.
Fox Business Video
-
-
AIG Bonus Approval
-
Jul 11, 2009
AIG Bonuses
-
-
-
Power Rankings: Where are They Now?
-
Jul 11, 2009
07/10/09
-
-
-
Macrellus Willey: Life After F...
-
Jul 11, 2009
Wiley on Networking Site
-
-
-
When a Dome Becomes a Home
-
Jul 10, 2009
Kubley on Dome Homes
-
-
-
Helping Small Business
-
Jul 10, 2009
Yancey on Volunteer Work
-
FOX Translator
No data currently available.
No data currently available.
A specialist is a member of a stock exchange who works as an auctioneer for a specific stock and/or stocks. It can be an individual, partnership, corporation or group of firms.
The specialist works to maintain a "fair and orderly market" for respective stocks, matching up buyers and sellers by displaying the best "bid" and "ask" prices at its trading post. If buys are not equal to sells, the specialist evens the scale by buying or selling shares, accordingly. However, they cannot make their own transactions until all investor orders have been placed.
Gauging supply and demand, the specialist sets an opening price for the stocks in its domain. If a price has not been set by the time the market opens, the specialist can delay that particular stock's opening.
Specialists make money off the "spread," which is the difference between bid and ask prices on orders.
