What’s new

PayPal Holdings Inc. has suspended its TIO Networks business due to cyber security concerns, the company said late Friday. PayPal said that it had discovered security vulnerabilities on the TIO platform and that the TIO data security program does not meet PayPal’s standards. The PayPal platform is not affected, the company said. “While we apologize for any inconvenience this suspension of services may cause, the security of TIO’s systems and the protection of TIO’s customers are our highest priorities,” the company said in a prepared statement. “We are working with the appropriate authorities to safeguard TIO customers.” PayPal acquired TIO in July of 2017 for $174 million, according to FactSet. The Vancouver, Canada-based TIO operates a bill payment platform. PayPal stock is up a fraction in late trading to $74.05, and has gained 87% this year, with the S&P 500 index rising 15%

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Mattel Inc. shares soared more than 20% in the extended session Friday following a report that Hasbro Inc. was looking to take over the rival toymaker. Mattel shares rallied 21% to $17.75 after hours on heavy volume following a report from The Wall Street Journal that Hasbro made an offer for Mattel, according to sources close to the matter. Shares of Hasbro rose 3.6% to $94.70 after hours. In Friday’s regular session, shares of Mattel closed up 5% at $14.62 for a market cap of $5.03 billion, and shares of Hasbro finished up 3.1% at $91.45 for a cap of $11.39 billion.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

U.S. stocks finished the week on a subdued note, as worries over U.S. tax reform and a delay of the promises cut in corporate taxation, weighed on investors’ minds. The Dow Jones Industrial Average slipped 0.2% to 23,423, marking its first weekly loss in nine weeks. The S&P 500 dropped 0.1% to finish the week at 2,582 points, also breaking an eight-week winning streak with a slight dip into negative territory on the week. The Nasdaq Composite meanwhile ended the day marginally higher at 6,751 points, sliding 0.2% on the week. In individual stocks, chip maker Nvidia Corp. rose 4.9% on the back of better-than-expected earnings, while Walt Disney Co. shares were up 2.1% despite an earnings-miss, thanks to the announcement of new Star Wars projects.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Bandwidth Inc. had its initial public offering Friday and investors sent the stock up 5% to $21 in late afternoon trading. Executives priced the IPO at $20, the low end of the $20 to $22 range executives sought, according to filings with the Securities and Exchange Commission. The Cary, NC-based company sold 4 million shares, and raised $80 million as the stock listed on Nasdaq under the ticker symbol “BAND”. Bandwidth bills itself as a communications provider offering a range of VoIP services such as messaging, voice and 9-1-1 calling.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Oil futures ended lower Friday, maintaining losses after data showed a rise in the number of U.S. oil rigs. West Texas Intermediate crude for December delivery lost 43 cents, or 0.8%, to end at $56.74 a barrel. For the week, the U.S. benchmark rose more than 2%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Gold futures settled sharply lower on Friday, even as both stocks and the dollar, which typically move inversely to precious metals, slumped on the back of waning confidence for economy-boosting tax reform. Market participants also speculated about a sizable intraday sales that helped add to selling pressure in the commodity. December gold finished down $13.30, or 1%, at $1,274.20 an ounce, but booked a weekly gain of about 0.4%, according to FactSet data, marking its first weekly rise in that past four weeks.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Crude futures remained lower Friday after oilfield services firm Baker Hughes reported the number of U.S. oil rigs rose by nine this week, bringing the total count to 738. Compared to the same time last year, the number of rigs has grown by 286. West Texas Intermediate crude for December delivery was down 44 cents, or 0.8%, at $56.73 a gallon.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

PPDAI, China’s biggest peer-to-peer lender, saw its shares jump 3.3% out of the gate on Friday after the company priced its initial public offering at $13, below its $16 to $19 price range. The company sold 17 million shares to raise $221 million. Shares are trading on the NYSE under the ticker symbol “PPDF.” The S&P 500 was last down 0.3%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

The Dow Jones Industrial Average on Friday was being weighed by slumping shares of McDonald’s Corp., for a second straight session. The fast-food chain’s shares were, down 1.4%, or $2.35, cutting about 15 points from the price-weighted Dow . Shares of McDonald’s fell 1.8%, or $3.10, on Thursday, serving as the biggest drag on the Dow, which closed off more than 100 points on the day. Shares o Johnson & Johnson and Boeing Co. also were contributed to the price-weighted blue-chip index’s decline. A $1 swing in any one of the Dow’s components equates to a move of 6.89 points. The Dow was off 46 points, or 0.2%, at 23, 419, the S&P 500 index gave up 6 points, or 0.2%, at 2,578, while the Nasdaq Composite Index retreated 7 points, or 0.1%, at 6,742, in early trade.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News