Breaking News Bar
updated: 10/3/2012 11:10 AM

Nasdaq cancels some Kraft stock trades

hello
Success - Article sent! close
  • The Nasdaq is cancelling some trades of Kraft Foods Group Inc. following an unusual spike after the market opened.

      The Nasdaq is cancelling some trades of Kraft Foods Group Inc. following an unusual spike after the market opened.
    File Photo

 
Associated Press

The Nasdaq is cancelling some trades of Kraft Foods Group Inc. following an unusual spike after the market opened.

Kraft's shares opened at $45.55 Wednesday before surging to $58.54. The exchange says it is looking into "potentially erroneous transactions" and will cancel all trades above $47.82 that happened during a one-minute window at 9:30 A.M. EDT.

Order Reprint Print Article
 
Interested in reusing this article?
Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.
The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.
Need more information about reprints? Visit our Reprints Section for more details.

Contact information ( * required )

Success - request sent close

The issue comes only days after Kraft Foods and former Kraft snack business Mondelez International began trading as two separate companies.

There have been several high-profile trading glitches recently with the increasingly complicated electronic systems that run stock trading. Those systems have shown signs of strain as more traders and big investment firms use powerful computers to execute trades in fractions of a second.

Kraft's shares increased 2.6 percent to $46.62 by midday.

Share this page
Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.
    help here