Shares of Noodles
soar during IPO
Shares of Noodles & Co. rose on their first day of trading on the Nasdaq. The casual restaurant chain raised $96.5 million in its initial public offering of stock. Shares had been priced at $18 each. They closed at $36.75. Noodles serves noodle bowls, salads, soups and sandwiches. The company has locations in Utah.
after Friday close
News Corp. formally split in two on Friday, with existing shareholders getting one share in the new publishing entity for every four shares they hold in the media company. Since last week, preliminary shares of both sides have been trading as if the split already occurred. Buyers of preliminary shares will receive them next Friday.
China tries again
to calm markets
China's central bank governor promised Friday to ensure there is enough money in financial markets to maintain stability after a credit crunch sparked fears of a crisis. Zhou Xiaochuan said markets have adequate liquidity for normal activity. He did not mention last week's interest rate spike but promised to ensure adequate credit.
Japan output up,
as inflation steadies
Japan got a dose of upbeat economic news Friday when the government said industrial production rose 2 percent in May from April, the fourth straight monthly increase, while the most-watched consumer price index stopped falling for the first time in seven months.
Hobby Lobby gets
Hobby Lobby will not be subject to $1.3 million in daily fines for failing to provide access to birth control through employees' health care plans, U.S. District Judge Joe Heaton said. He set a hearing for July 19 to address claims by the owners of Hobby Lobby that providing every form of birth control would violate the owner's beliefs.
Ford sets recalls
over safety locks
Ford is recalling about 13,000 Explorer, Taurus and Lincoln MKS cars and SUVs because the child-safety locks may not work on the rear doors. The recall affects 2013 model cars sold mainly in the U.S., Canada and Mexico. The action covers cars and SUVs built from Nov. 29 to Dec. 12 of last year. Dealers will test the locks and replace door latches if needed at no cost to owners.