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The Dow Jones today was even today, ending at 16,501.65, while the S&P 500 rose 3.22 points to finish at 1,878.61. The Nasdaq rose 21.37 points to finish at 4,148.34 this afternoon on Apple Inc.'s (Nasdaq: AAPL) strong quarterly earnings.
Although the three major U.S. stock indexes opened higher, the markets slid from their intraday highs. Most of the volatility stems from concerns over Russian military drills starting on the Ukrainian border.
Here's your recap of today's major market events…
- The Alibaba IPO Is Huge: Wall Street was in a frenzy on Thursday as Chinese Internet giant Alibaba prepares to file paperwork for the largest IPO of the year. The company is expected to raise nearly $15 billion when it hits the market sometime this spring. To put that into perspective, all 91 companies that have gone public thus far in 2014 have raised a combined $18.4 billion, according to Renaissance Capital. Here are the 10 things you need to know about the upcoming Alibaba IPO.
- The Zimmer Bid Hits Big: Although the company was recently hit by a credit downgrade, Zimmer Holdings Inc. (NYSE: ZMH) soared more than 11% to $101.84 and struck an intraday high of $108.33. Today, the company announced it would purchase its rival Biomet Inc. for $13.35 billion. Biomet, a manufacturer of orthopedic medical devices, was poised to set its own initial public offering in 2014. However, those plans have clearly expired. The deal is the latest in a string of healthcare deals that have hit the markets in recent weeks.
- Facebook Buying Again: On Thursday, Facebook Inc. (Nasdaq: FB) announced the purchase of ProtoGeo Oy, a mobile app company that created a mobile app called "Moves," which tracks how far consumers walk or run and the number of calories they've burned during the day. This is the company's first major jump into social apps in the fitness and health-monitoring sector. Facebook said that ProtoGeo has fewer than 10 employees and that the deal was far, far less expensive than WhatsApp, Oculus, or Instagram.