Posted on 10/10/2017 6:42:36 PM PDT by Swordmaker
The Dow Jones newswires had a ‘technical error’ which caused the portal to report several spurious stories including several headlines claiming Google was acquiring Apple for $9 billion, and that the deal was pre-arranged with Steve Jobs in his will.
Obviously, every element of the story is made up, but it’s pretty funny to see the temporal blip on Apple’s stock price, which briefly spiked up to $158. The fake stories have now been removed by DJ.
Whilst the contents of the story make it obvious that the news is completely fake, the existence of real-time high-speed trading means the jump to $158 was almost certainly caused by automatic computer algorithms rather than real people.
The erroneous headlines included news that Google employees would take over the Apple headquarters, receive 9 Apple shares for every Google stock owned and that the deal was set to close tomorrow.
The stock jump was quickly corrected in the following minutes. $AAPL is back to typical levels, around $156.
Update: Dow Jones provided the following statement on the matter.
“Please disregard the headlines that ran on Dow Jones Newswires between 9:34 a.m. ET and 9:36 a.m. ET. Due to a technical error, the headlines were published. All of those headlines are being removed from the wires. We apologize for the error.”
So, who wrote the stories and who profited? How much money changed hands over this? Bet there is more to this, like was this inside job or did they get hacked?
Humorous, thanks for the post.
Nice Lamborghini..! Will ya take uh...$5,000 for it..?
$5,000...?! Hot-diggity, HERE are the keys..!
Plausible..?
Eh...NO.
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Millennial idiots never heard of anti-trust. Even the 0Bozox Dept of Justice would not have given approval for such a merger.
If only I could go back in time with $10,000 to invest.
DowJones claims it was hackers, but only in the name of their linked article; cause is deemphasized in the actual article. Likely their legal department doesn't want any hint they aren't secure.
There were apparently nine fake stories inserted into the DJ news feed of which this was one. I'd be looking at whoever sold a large lot of AAPL at the suddenly jumped price when it went up by $2 on this "news."
Turns out that one of my sons’ friends was in IT at WFAA Channel 8 in Dallas, and was trying to teach a new (blonde) on-air talent how their equipment worked for emergency alerts and station generated news.
All was well and good until she clicked “Send” on the practice stories - and out it went into the ether for all ABC TV stations to read ...
So who was fired by WFAA Channel 8 in Dallas, the new on-air talent who looked good, or the young IT geek that actually kept everything running at the station?
As if you has to guess!
Apple should purchase ATT.
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