11:35 Market Update

So far, the big financial stocks are down the most. Morgan Stanley ($MS) is down about 4%, while Citigroup ($C) and Goldman ($GS) are both down more than 2%.

One of the stocks I like to watch, Rackspace Hosting ($RAX), is up 6% after a blog said that IBM ($IBM) may be interested in buying them. The numbers at RAX are amazing but I’m afraid the shares are way too expensive.

The latest news out of Cyprus is that they’re going to postpone the deposit tax debate to tomorrow. The latest is that banks will be closed there tomorrow and on Wednesday.

Posted by on March 18th, 2013 at 11:35 am


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