I expect tech IPOs to pick up the slack in the coming months. The enormous amount of money that Facebook paid for WhatsApp will certainly be an impetus for some firms to capitalize on the demand for small social media companies. There are many strategic buyers that are now in the market, and that's not lost on anyone.
2) Kudos to Warren Buffett and the management team at Business Wire, the company he owns. The Wall Street Journal and other publications are reporting that Business Wire will stop giving high-frequency traders direct access to corporate earnings. Many companies use Business Wire and other competitors to release their earnings reports.
These distributors then sell the information to media companies like Dow Jones or Bloomberg. However, Business Wire allowed traders to pay for direct access to the feed. This allowed traders who paid for the data to get access to the information slightly faster than others who got them through the media outlets. We are talking about a fraction of a second, but that is enough to trade on. Eliminating that ability to gain faster access is the right decision.
I've said this before: I have nothing against high frequency trading, but I do have a problem with getting faster access than anyone else. On a separate note, any indication that any high frequency trader is engaging in manipulative or abusive practices should be investigated.
3) Home furnishing company Mohawk Industries slides after issuing downbeat first quarter profit guidance and noting the effects of harsh winter weather. MHK sees a Q1 share range between $1.13 and $1.19, much lower than expectations of $1.51.
"While the weather in the first half of this quarter has impacted the timing of some of our U.S. orders and shipments, our first quarter results are expected to be in line with normal seasonal patterns," said CEO Jeffrey Lorberbaum.
—By CNBC's Bob Pisani