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 Twilio Inc. TWLO said late Monday it plans to acquire business-texting platform ZipWhip for about $850 million in cash and stock. The company said ZipWhip will become a part of its Messaging Business Unit. The company expects the deal to close by the end of 2021. Twilio reiterated its second-quarter revenue guidance of $591 million to $601 million, noting that it would not be affected by the deal, while analysts surveyed by FactSet expect $597.1 million. Twilio shares were flat after hours, following a 0.7% decline to close at $297.20, for a 12-month gain of 57%, compared with the Nasdaq Composite Index's COMP 48% gain.
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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U.S. stocks ended slightly lower Monday, weighed by declines technology and tech-related shares, as concerns about inflation continued to buffet Wall Street, following the worst week for stocks since Feb. 26. The Dow Jones Industrial Average finished about 0.2% lower at 34,328, off the low for the day at 34,176.65, with shares of Walt Disney & Co. and Home Depot leading the blue-chip benchmark's slide. The S&P 500 index closed off 0.3% at roughly 4,163, led lower by technology and communicatiion-services shares, while the Nasdaq Composite Index retreated 0.4% to 13,379, off a low of 13,265. The slump for stocks came as gold futures jumped, settling above their 200-day moving average and marking the highest finish for the most-active contract since early February. Federal Reserve Vice Chairman Richard Clarida, the Fed's No.2, said the U.S. economy had yet to reach the "substantial further progress" that would be needed to peel back accommodative policies, even as investors fear that inflation is set to run hotter than the central bank is predicting. In corporate news, AT&T shares fell 2.7% after it agreed to combine media assets with Discovery Inc. and spin them off into a new, publicly traded company. Shares of Disovery fell more than 5%.
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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 U.S. stocks end slightly lower as inflation fears keep pressure on tech shares
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Oil futures climbed Monday, with optimism that an economic recovery in the U.S. and Europe will lead to higher energy demand sending U.S. prices to their highest settlement in more than two years. Prices got a boost on "hopes that large parts of Europe will soon be able to follow the U.K. on easing restrictions further, thus driving up demand over the next few weeks," said Michael Hewson, chief market analyst at CMC Markets UK. June West Texas Intermediate crude rose 90 cents, or 1.4%, to settle at $66.27 a barrel on the New York Mercantile Exchange. That was the highest front-month contract finish since April 23, 2019, when prices settled at $66.30, FactSet data show.
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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Gold futures on Monday posted their strongest daily gain in more than week to mark the highest settlement since January. Prices finished higher on the back of weakness in the U.S. dollar as well as losses in the U.S. benchmark stock indexes. Also providing support, Federal Reserve Vice Chairman Richard Clarida said Monday that the U.S. economy hasn't hit the benchmark of "substantial further progress" needed for the Federal Reserve to scale back asset purchases. June gold climbed $29.50, or 1.6%, to settle at $1,867.60 an ounce, with prices for the most-active contract at their highest since Jan. 7, according to FactSet data.
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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Stocks opened modestly lower Monday, under renewed pressure after major benchmarks saw their biggest weekly declines since February --- a selloff blamed on worries over rising inflation pressures. The Dow Jones Industrial Average was down 9 points, or less than 0.1%, at 34,373, while the S&P 500 fell 0.3% to 4,162.33. The Nasdaq Composite shed 0.7% to trade at 13,328.45. Shares of Discovery Inc. rose more than 10%, while AT&T Inc. shares rose 4.7% after the companies announced a $43 billion deal to combine WarnerMedia with Discovery.
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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