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USA Today MoneyJun 17, 2019
Goldman Sachs is sounding the alarm: Tech stocks are overvalued
Tech stocks - and software ones in particular - have had a big year, with Microsoft's stock price jumping 30% in 2019.       

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Adaptive Biotechnologies sets terms for IPO, to raise up to $212.5 million (MarketWatch MarketPulse)

MarketWatch MarketPulseJun 17, 2019
Blockchain company Ripple invests in MoneyGram to power cross-border payments, shares explode higher
Blockchain company Ripple announced an investment in and partnership with MoneyGram International Inc. Monday afternoon, sending MoneyGram shares soaring more than 100%. Ripple, which is known for its XRP cryptocurrency and blockchain technology, agreed to purchase $30 million worth of freshly created MoneyGram shares at $4.10 apiece, and can purchase another $20 million more at its discretion at a minimum of $4.10. MoneyGram shares closed Monday at $1.45, but exploded higher after the announcement, recently topping $3 in after-hours trading. The cost of an XRP coin jumped more than 5% immediately after the announcement. MoneyGram will use Ripple's XRP technology to handle cross-border transfers of digital funds for at least two years under the deal. "Through this strategic partnership, MoneyGram will be able to settle key currencies and match the timing of funding with its settlement requirements, reducing operating costs, working capital needs and improving earnings and free cash flow," MoneyGram said in the announcement.

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.



MarketWatch MarketPulseJun 14, 2019
Stocks end week on a high note, even after chip maker losses
Stocks mostly closed lower on Friday, leaving weekly gains still intact, after shares of computer chip makers came under pressure due to US-China trade tensions. The S&P 500 fell 0.2% to end around 2,887. The Dow Jones Industrial Average shed 17 points, or less than 0.1%, to finish near 26,090. The Nasdaq Composite slipped 0.5% to end around 7,797. For the week, S&P was up 0.5%, the Dow was up 0.4% and the Nasdaq was up 0.7%. Broadcom Inc. shares led the slump in tech stocks on Friday after the semiconductor manufacturer lowered its guidance for the rest of the year on late Thursday. Broadcom's stock tumbled 5.4%. Still, key equity benchmarks were propped up by expectations for the Federal Reserve to signal its plans to cut rates in the near-future at next week's meeting. In other company news, Chewy Inc. shares rose 63% after its debut IPO in the New York Stock Exchange. The pet care company's stock ended at around $36 a share.

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.


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