Tinder, OKCupid parent Match Group files for IPO

Match Group Inc. filed for an initial public offering Friday, seeking to sell at least $100 million worth of shares. The company behind several dating sites, including Tinder, OKCupid, and Match, said it had 4.7 million paid members and about 59 million monthly active users on its dating products at the end of September. Its target market “includes all adults in North America, Western Europe and other select countries around the world who are not in a committed relationship and who have access to the internet,” which the Dallas-based company estimated at about 511 million people. “The market for dating products is fragmented, and no single product has been able to effectively serve the dating category as a whole,” it said. The company plans to trade on the Nasdaq stock exchange under the symbol MTCH. Underwriters include J. P. Morgan and Bank of America Merrill Lynch. Match Group is a subsidiary of InterActive Corp. The company’s revenue hit $484 million in the six months ended in June. It earned $49.3 million between January and June, compared with $48.9 million in the same period a year ago.

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Ellipse Technologies files for $75 million IPO

Ellipse Technologies Inc. on Friday filed for an initial public offering, seeking to sell $75 million worth of shares. The Aliso Viejo, Calif., medical technology company makes adjustable orthopedic implants. Underwriters include Piper Jaffray and William Blair. The company said its revenue reached $26 million in 2014, while net losses reached $3.2 million that year. Ellipse lost $3.5 million in the six months ended June 30. The company is expected to trade on the Nasdaq stock exchange under the symbol MGEC.

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U.S. stocks end third straight week with gains

U.S. stocks ended Friday’s session slightly higher, ending a third consecutive week with gains. The S&P 500 closed 9.21 points, or 0.5%, higher at 2,033.07, its best level since Aug. 20. The benchmark index gained 0.9% over the week. The Dow Jones Industrial Average added 74.09 points, or 0.4%, to 17,215.84 and booked a 0.8% weekly gain. The Nasdaq Composite ended the day up 16.59 points, or 0.3%, at 4,886.69 and gained 1.2% over the week.

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Fresh Market stocks swings to sharp gain; company declines to comment

The Fresh Market Inc.’s stock rocketed as much as 14% before paring some gains in afternoon trade Friday, erasing an earlier loss of as much as 2.6%, in the wake of a report that the specialty grocer’s founder was mulling a buyout bid. Founder and Chairman Ray Berry was the company’s seventh-largest shareholder with a 1.97 million-share stake, according to FactSet’s analysis of the latest regulatory filings. Reuters reported earlier, citing people familiar with the matter, that Berry was teaming up with a private-equity firm to take the company private. “We don’t comment on market rumors, as is the company’s policy,” according to a statement on behalf of The Fresh Market. As of Thursday’s close, the stock had run up 25% since closing at a record low of $19.46 on Aug. 25, but was still down 41% so far this year.

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Fed’s Mester says politics never a factor in monetary policy decisions

WASHINGTON (MarketWatch) – Cleveland Fed President Loretta Mester on Friday said politics have never been a factor in monetary policy decisions, pushing back on Donald Trump who earlier Friday said Fed Chairwoman Janet Yellen was keeping rates low to help President Barack Obama and Hillary Clinton. “I would say politics don’t come into it. We’re really are putting policy on what the economy can handle and what the outlook is,” Mester said. The Cleveland Fed president repeated she favors a rate hike this year. Mester said she would not support a first rate hike that was less than 25 basis points. Some have argued a smaller increase, such as 15 basis points, would underline the gradual pace of rate hikes. “Fine tuning at that level doesn’t make sense,” Mester said.

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Facebook shares rise as J.P. Morgan reiterates overweight rating

Shares of Facebook Inc. rose Friday after a J.P. Morgan analyst reiterated his overweight rating on the stock. “Facebook remains our top overall pick as we believe it is still early in monetizing Facebook’s base of 1.49 billion users, and the company is building other strong franchises in Instagram, Messenger and WhatsApp,” said analyst Doug Anmuth in a report. Anmuth noted Facebook’s engagement in mobile Internet time was strong at about 22% while engagement via desktop reached 18% in September. The analyst expects upside potential of its ad revenue in the second half of the year from its newsfeed, video and ad load acceleration on Instagram. Anmuth assigned Facebook’s stock with a price target of $118. Facebook shares rose 1.3% to $97.20 for a year-to-date gain of 25%. Facebook is scheduled to release third-quarter earnings on Nov. 4.

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Obama says Israeli and Palestinian leaders must ‘tamp down rhetoric’

WASHINGTON (MarketWatch) – President Barack Obama on Friday called on leaders of Israel and Palestine to seek to end rhetoric that might be flaming violence. Obama said he recognized that Israel has a right to protect its citizens from knife attacks. He then called on Israeli Prime Minister Benjamin Netanyahu and Palestinian Authority President Mahmoud Abbas to “try to tamp down rhetoric that may feed violence or anger or misunderstanding and try to get all people in Israel and the West Bank to recognize this kind of random violence is not going to result in anything but more hardship and insecurity.”

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