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snapchat shares surge 44% in market debut


snap inc. shares soared on the first day of trading thursday in an initial public offering that will likely hand the disappearing-message app’s founders, investors and underwriters big profits and provide a boost for the sluggish new-issue market.the newly public shares, trading on the new york stock exchange under the ticker “snap,” surged 44% above their offering price to close at $24.48 as investors clamored for a piece of the...






snap's share price pops 44% in first day of public trading


snap inc. shares closed at $24.48 in their first day of trading, a 44% jump over the price point the company and its underwriters set wednesday afternoon.shares were priced wednesday at $17 — that’s the price big institutional investors pay and that snap inc. receives. thursday morning they opened on the new york stock exchange at $24 — the price at which new shareholders could opt to sell and prospective shareholders could choose to buy. shares briefly topped $26 in afternoon trading.the stock’s first-day gain is the kind of “pop” that’s typically cheered on wall street as evidence of strong investor demand for a newly public company. but it can also be evidence of something else: that the company and the investors who sold shares in the public offering left money on the table.in the init






maybe $23? traders ponder where snap shares will open


after the opening bell, the new york stock exchange began an elaborate process involving phones, tablets, hollers and lots of waiting to determine the price at which snap shares should begin trading. although the snapchat company initially priced shares at $17 to raise $3.4 billion in cash for its business, workers and investors, the shares are expected to debut on the market at a higher price. demand for the shares has been 10 times the supply despite questions about snap's growth prospects. on thursday, traders were contemplating paying upwards of $23 to start.






snap's founders get $272 million in cash each, plus billions in paper gains as s


snap inc. founders bobby murphy and evan spiegel each made $272 million by selling shares in their company's initial public offering. and they've made much more in paper gains as snap shares have soared in early trading. shares of the company's stock are changing hands for $25.77 as of 10:42 a.m. pacific time, up from $17 when shares priced late wednesday. at $25.77, murphy's remaining shares -- he and spiegel each sold only a small percentage of their holdings in the ipo and continue to own hundreds of millions of snap shares -- are worth $5.4 billion, a gain of $1.9 billion since this morning. spiegel has gained that much, and more. along with his snap holdings going into this week's offering, the snap chief executive was granted about 37 million additional shares when the public offerin






snap shares leap 10.7% on second trading day


shares of snap inc. jumped 10.7% on their second day of trading on the new york stock exchange, closing at $27.09. friday's closing price was up 59.4% from the shares' ipo price of $17 paid by investors wednesday. the shares debuted on the exchange thursday morning at $24. some analysts predict the stock will soon plunge, with one citing a target price of $10 a share. but the big first-day "pop" raises the question of whether the ipo should have been priced higher.






when tech companies go public, employees can strike it rich — or not. and then t


five years ago when facebook went public, employees of the social network were glued to office televisions airing cnbc, waiting for the company’s trading price.“everyone was hoping for a pop,” said dan fletcher, a former facebook employee, referring to the spike in stock price that some companies experience after an initial public offering. facebook debuted at $38 a share. when the first trade of the day came back at $42.05 — a gain of nearly 10% — everyone erupted in cheers. then, a moment of quiet.“you could see everyone’s eyes sit back in their heads as they did the mental math,” said fletcher. “how much are my shares worth?”tech ipos have minted millionaires, with stories of even janitors who worked at google striking it rich after the company went public in 2004. as snap inc. hurtles






high school makes $24 million from snap ipo


a california high school has made millions of dollars from the initial public offering of shares in snap inc., the company behind the snapchat photo messaging application. the board of the saint francis high school in mountain view agreed to invest $15,000 in seed money in snap in 2012, when the company was just getting started. it had been invited to do so by one of the student's parents, a venture capital investor, the high school president says in a letter issued to the school community thursday. the school held onto the investment until this week, when snap shares sold for $17 each in an ipo. the share price rocketed 44% higher when trading began thursday. the school was quoted by media including website quartz as saying it sold two-thirds of its shares at $17 each, to raise $24 millio






high school makes $24 million from snap ipo


a california high school has made millions of dollars from the initial public offering of shares in snap inc., the company behind the snapchat photo messaging application. the board of the saint francis high school in mountain view agreed to invest $15,000 in seed money in snap in 2012, when the company was just getting started. it had been invited to do so by one of the student's parents, a venture capital investor, the high school president says in a letter issued to the school community thursday. the school held onto the investment until this week, when snap shares sold for $17 each in an ipo. the share price rocketed 44% higher when trading began thursday. the school was quoted by media including website quartz as saying it sold two-thirds of its shares at $17 each, to raise $24 millio






high school makes $24 million from snap ipo


a california high school has made millions of dollars from the initial public offering of shares in snap inc., the company behind the snapchat photo messaging application.the board of the saint francis high school in mountain view agreed to invest $15,000 in seed money in snap in 2012, when the company was just getting started.they had been invited to do so by one of the student's parents, a venture capital investor, the high school president says in a letter issued to the school community thursday.the school held onto the investment until this week, when snap shares sold for $17 each in an ipo. the share price rocketed another 44 percent higher when trading began thursday.the school was quoted by media including website quartz as saying they sold two-thirds of their shares at $17 each, to






the motley fool: useful tips on investing


limits on shares?q: is the number of shares of a company that can be bought limited in any way?a: yes, indeed. for starters, companies don’t have unlimited shares. they issue a certain number when they go public via an “initial public offering” (ipo), and they may issue more later, via secondary offerings. (the more shares that exist, the smaller stake in the company each one represents.) you could buy all available shares of a company, but by doing so, your sudden demand for the shares would drive up the price. (that’s why major investors don’t want to publicize their trading, and why they try to buy gradually, in increments.) of course, that’s costly. most read storiesunlimited digital access. $1 for 4 weeks.additionally, once anyone owns more than 5 percent of a voting class of shares,






snap stock rises after an analyst issues a 'buy' rating for the first time


snap inc.’s stock rose monday after receiving its first “buy” rating from a wall street analyst, providing some relief from a downward trend.trading in the company behind the snapchat app began with a bang march 2. when the shares hit the new york stock exchange that day, they opened at $24, more than 40% above the initial public offering price of $17.the shares rose as high as $29.44 on the second day of trading, but began to decline steadily after that, as analyst after analyst issued “sell,” “underperform” and “hold” ratings.midday on friday, the stock hit a low of $18.90.that trend saw a reversal monday, when james cakmak, an analyst with monness, crespi, hardt & co., issued a “buy” rating for the stock and gave it a target price of $25. snap shares rose 2% to $19.93."we recognize we a






europe’s economy rebounds, but bargain-priced shares draw fleeting interest


european shares are lagging behind the global equity rally despite recovering regional growth and corporate profits, highlighting international anxiety over the continent’s fractious politics.last year, the eurozone economy kept pace with the u.s. for the first time since 2008, while the region’s companies outperformed in the last earnings season. european shares are far cheaper on many valuation measures than those in the u.s....






high school makes $24 million from snapchat company ipo


san francisco — a california high school has made millions of dollars from the initial public offering of shares in snap inc., the company behind the snapchat photo messaging application.the board of the saint francis high school in mountain view agreed to invest $15,000 in seed money in snap in 2012, when the company was just getting started.they had been invited to do so by one of the student's parents, a venture capital investor, the high school president says in a letter issued to the school community thursday.the school held onto the investment until this week, when snap shares sold for $17 each in an ipo. the share price rocketed another 44 percent higher when trading began thursday.the school was quoted by media including website quartz as saying they sold two-thirds of their shares






theranos offers shares for promise not to sue


theranos inc. plans to give additional shares to investors who pledge not to sue the battered blood-testing company or elizabeth holmes, its founder and chief executive, people familiar with the matter said.the deal includes investors who participated in theranos’s latest funding rounds, which ended in 2015 and brought in more than $600 million. those investors could get about two additional shares for each share they bought, one of...






apple shares shine, rising 24%


apple inc. shares sported their best quarterly performance in five years, up 24% in the first three months of 2017, showing how some once-lagging trades have come back with force.the tech giant added $144.8 billion to its market value in the first three months of the year as its shares set all-time highs. the only time an s&p 500 company has added more to its market capitalization in a single quarter was when apple itself...






california high school makes $24 million from snapchat company ipo


san francisco — a california high school has made millions of dollars from the initial public offering of shares in snap inc., the company behind the snapchat photo messaging application.the board of the saint francis high school in mountain view agreed to invest $15,000 in seed money in snap in 2012, when the company was just getting started.they had been invited to do so by one of the student's parents, a venture capital investor, the high school president says in a letter issued to the school community thursday.the school held onto the investment until this week, when snap shares sold for $17 each in an ipo. the share price rocketed another 44 percent higher when trading began thursday.the school was quoted by media including website quartz as saying they sold two-thirds of their shares






california high school turns $15,000 investment in snap inc. into $24 million –


san francisco — a california high school has made millions of dollars from the initial public offering of shares in snap inc., the company behind the snapchat photo messaging application.the board of the saint francis high school in mountain view agreed to invest $15,000 in seed money in snap in 2012, when the company was just getting started.they had been invited to do so by one of the student’s parents, a venture capital investor, the high school president says in a letter issued to the school community thursday.the school held onto the investment until this week, when snap shares sold for $17 each in an ipo. the share price rocketed another 44 percent higher when trading began thursday.the school was quoted by media including website quartz as saying they sold two-thirds of their shares






snapchat shares surge 44% in market debut


snap inc. shares surged 44% on their first day of trading thursday as investors sought a piece of the biggest technology initial public offering in the u.s. since alibaba group holding ltd. made its debut in 2014.shares of snap opened at $24, above the ipo price of $17, and rose to $26.05 before closing at $24.48. the closing price valued the parent of the popular disappearing-message app snapchat at about $34 billion, above...






identity management software provider okta seeks to raise $187m with ipo pricing


okta is setting an increasingly ambitious target for its ipo, now officially pricing it at $17 per share set for its debut tomorrow — and looking to raise as much as $187 million in the hopes that it can capitalize on the newly-open ipo window.there’s been a wave of companies going public in the past quarter alone, with snap having a largely successful ipo and yext filing to go public the same day as okta. last year there was a drought of ipos, but it looks like companies are trying to get their public debuts out the door while they’re still able to capitalize on the excitement of wall street getting into these companies from the get-go.okta will be offering 11 million shares, though there is also an option for underwriters to purchase an additional 1.65 million shares. in total, okta coul






identity management software provider okta seeks to raise $187m with ipo pricing


okta is setting an increasingly ambitious target for its ipo, now officially pricing it at $17 per share set for its debut tomorrow — and looking to raise as much as $187 million in the hopes that it can capitalize on the newly open ipo window.there’s been a wave of companies going public in the past quarter alone, with snap having a largely successful ipo and yext filing to go public the same day as okta. last year there was a drought of ipos, but it looks like companies are trying to get their public debuts out the door while they’re still able to capitalize on the excitement of wall street getting into these companies from the get-go.okta will be offering 11 million shares, though there is also an option for underwriters to purchase an additional 1.65 million shares. in total, okta coul






hain celestial shares drop after news of sec investigation


shares of organic and natural products maker hain celestial group inc. dropped more than 10 percent monday after the company disclosed it is being investigated by the securities and exchange commission for its accounting practices.the lake success-based company said in a regulatory filing late friday that the sec has issued a “formal order of investigation” and issued a subpoena seeking relevant documents. the company is responding to “the sec’s request for information and intends to cooperate fully with the sec,” according to the filing. advertisement | advertise on newsdayhain celestial’s shares fell to $34.49 on monday morning. its shares are down more than 37 percent in the last six months.storysec investigating hain celestial group inc.storyhain finds no wrongdoing after reviewstoryha






google warns symantec over misissued ssl certificates


google is threatening to stop trusting some secure sockets layer/transport layer security (ssl/tls) certificates issued by symantec inside of the chrome web browser. google alleges that symantec has failed to properly validate issued certificates, a claim with which symantec strongly disagrees."since january 19, the google chrome team has been investigating a series of failures by symantec corporation to properly validate certificates," ryan sleevi, staff software engineer at google, wrote. "over the course of this investigation, the explanations provided by symantec have revealed a continually increasing scope of misissuance with each set of questions from members of the google chrome team."google's initial investigation looked at 127 certificates that may have been misissued, but the lis






global shares mostly higher as oil rebounds


global shares were mostly higher tuesday as crude oil prices advanced, though japan's benchmark fell as investors weighed uncertainties over trade and exchange rates.






kraft heinz shares rise on spurned buyout offer for unilever


food intrigue: kraft heinz shares rose 11 percent to $96.57 friday after it confirmed that it made an offer to buy european consumer goods giant unilever and had been rejected. unilever’s u.s.-listed shares jumped 14 percent, to $48.53 friday.unhealthy: molina healthcare inc. shares plunged 18 percent to $49.35 thursday, the day after the california-based insurer said losses related to its participation in the affordable care act marketplace led to “clearly unacceptable” earnings for 2016. molina shares closed the week at $48.23.social good: groupon shares jumped 23 percent to $4.64 percent wednesday on strong revenue after the company reported earnings for the first time since announcing its acquisition of living social in october. groupon shares closed friday at $4.66.car talk: general m






kraft heinz shares rise on spurned buyout offer for unilever


food intrigue: kraft heinz shares rose 11 percent to $96.57 friday after it confirmed that it made an offer to buy european consumer goods giant unilever and had been rejected. unilever's u.s.-listed shares jumped 14 percent, to $48.53 friday.unhealthy: molina healthcare inc. shares plunged 18 percent to $49.35 thursday, the day after the california-based insurer said losses related to its participation in the affordable care act marketplace led to "clearly unacceptable" earnings for 2016. molina shares closed the week at $48.23.social good: groupon shares jumped 23 percent to $4.64 percent wednesday on strong revenue after the company reported earnings for the first time since announcing its acquisition of living social in october. groupon shares closed friday at $4.66.car talk: general m






shah rukh khan and gauri khan get slapped with a show cause notice


shah rukh khan and gauri khan get slapped with a show cause noticethe enforcement directorate has issued a show cause notice against knight riders sports pvt ltd and shah rukh khan’s wife gauri khan for allegedly violating foreign exchange rules. the notice has been issued under the foreign exchange management act (adjudication proceedings and appeal) rules, 2000 in connection with the share sale of knight riders, the franchise owned by srk’s company red chillies entertainment pvt ltd in partnership with actor juhi chawla and her husband jay mehta.“we issued show cause notices against knight riders sports, gauri khan and others under fema for loss of foreign exchange worth rs 73.6 crore in sale of shares,” said an official. 






snap shares jump as ipo insiders encourage buying or holding the stock


the analysts had been barred from publicizing their calls until monday because they worked at banks that helped sell stock during snap’s initial public offering this month.los angeles — shares of snapchat maker snap jumped monday, closing at their highest price in three weeks.the leap — shares rose $1.09 a share, or 4.8 percent, to $23.83 — followed several stock analysts’ new recommendations to buy or hold on to shares of the los angeles company.the analysts had been barred from publicizing their calls until monday because they worked at banks that helped sell stock during snap’s initial public offering this month. banks typically wait about 25 days after a company’s ipo before discussing the company to avoid sharing information selectively or saying anything that swings prices during the






jimmy kimmel shares his tale of best picture snafu


jimmy kimmel shares his personal perspective on what really happened when the academy award for best picture was given to the wrong movie at the oscars.






apple shares hit all-time closing high as investors await next iphone


apple inc.’s shares reached their highest closing level ever monday, as investors bet that the 10th-anniversary iphone expected later this year will return the world’s most valuable company to renewed momentum after its worst stumble in years.the stock closed at $133.29, topping the prior record close of $133 set in february 2015. the all-time intraday trading high for apple shares is $134.54, also reached in 2015.that...






snap inc to raise $3.4b ahead of nyse debut


snap inc, the parent company of photo-sharing app snapchat, announced on wednesday evening that 200 million shares would be sold for $17 a piece when it starts trading on the new york stock exchange (nyse) on thursday under the ticker symbol snap. the social media giant will sell 145 million of those shares -- allowing it to raise more than $2.4 billion -- while executives and early investors will pitch in 55 million shares that they amassed before the initial public offering and take proceeds of $935 million home.benchmark capital, lightspeed venture partners, and general catalyst are among the investors that planned to sell shares. what's hot on zdnetevan spiegel and bobby murphy, co-founders of snap, both planned to sell 16 million shares in the offering, bringing in about $272 million






snap inc. shares close - la times


shares of snap inc. closed at $24.48, up 44% from its opening price. snap stock opened at $24 a share on the new york stock exchange thursday morning. the stock was priced at $17 on wednesday.






bids for snap shares rise as high as $24.50


the potential opening price for snap shares keeps going up. now $24.50 is the top bid, which would be a 44% premium over what big funds paid wednesday. it looks as though snap will open with a valuation of about $33 billion. for comparison, twitter inc. opened at $32 billion in its new york stock exchange debut in 2013.






snapchat firm reportedly closing in on $25-billion valuation for ipo


snapchat maker snap inc. has generated enough interest from potential purchasers of its stock to initially price shares at about $18, according to business insider and cnbc . earlier this month, snap said it expected to offer as many as 230 million shares to institutional investors for $14 to $16, valuing the los angeles company at potentially $22.5 billion. but that ipo pricing didn't represent a notable premium to how much investors paid for snap shares in a private financing last year. that led to speculation that snap would later raise prices. at $18 a share, snap would notch a valuation of $25.2 billion and raise about $4 billion — what people close to the company described as a target last fall. the details are expected to be finalized wednesday. snap shares are to begin trading on t






apple shares hit all-time closing high as investors await next iphone


apple inc.’s shares reached their highest closing level ever monday, as investors bet that the 10th-anniversary iphone expected later this year will return the world’s most valuable company to renewed momentum after its worst stumble in years.the stock closed at $133.29, topping the prior record close of $133 set in february 2015. the all-time intraday trading high for apple shares is $134.54, also reached in 2015.that puts...






high school makes $24 million from snap ipo


apmarch 3, 2017, 7:48 amsan francisco - a california high school has made millions of dollars from initial public offering of shares in snap (snap), the company behind the snapchat photo messaging application.the board of the saint francis high school in mountain view agreed to invest $15,000 in seed money in snap in 2012, when the company was just getting started.playvideocbsnis snap a smart investment amid profit concerns? snap inc. has gone public in a highly-publicized tech ipo, but will it be a profitable investment? cnet's dan ackerman, bloomberg's dani burger, ... they had been invited to do so by one of the student’s parents, a venture capital investor, the high school president says in a letter issued to the school community thursday. the school held onto the investment until this






snap inc. ipo live updates: snapchat company's shares might open at $23, up from


the new shares of stock that snapchat parent snap inc. priced at $17 apiece wednesday don’t have the voting rights that customarily come with public company stock . if you don't like that arrangement — and many big investment firms don't — you can simply choose not to buy snap shares when they start trading on thursday. but you probably won't be able to avoid non-voting snap stock for long. not today, and not this month, but eventually, many investors, even ones who bristle at snap inc.’s share structure, will wind up owning a piece of the venice company. snap is so large and so valuable that, barring an immense decline in its share price, it will almost certainly be included in many of the stock indices that determine where retirement savers and other passive investors put their money. th






snap ipo live updates: snapchat company's shares open at $24, up from $17 pricin


the new shares of stock that snapchat parent snap inc. priced at $17 apiece wednesday don’t have the voting rights that customarily come with public company stock . if you don't like that arrangement — and many big investment firms don't — you can simply choose not to buy snap shares when they start trading on thursday. but you probably won't be able to avoid non-voting snap stock for long. not today, and not this month, but eventually, many investors, even ones who bristle at snap inc.’s share structure, will wind up owning a piece of the venice company. snap is so large and so valuable that, barring an immense decline in its share price, it will almost certainly be included in many of the stock indices that determine where retirement savers and other passive investors put their money. th






blackberry and nokia phones are coming back — with a twist


the 2017 smartphone cycle is about to kick off in earnest, and there are some familiar names fighting to come back into the fold.blackberry mobile announced this week that a new phone — complete with a physical keyboard and dubbed the "mercury" — will debut feb. 25 at the annual mobile world congress trade show. that follows hard on the heels of an announcement from nokia, which teased the chinese launch of its new nokia 6 phone ahead of a larger feb. 26 launch event.nokia? blackberry? what's next, the return of baby-g watches? it may all feel a bit 2002 seeing these phone brands come back into the spotlight, but here's the thing: these are not the phone brands that you think they are. both of the new smartphones are made by different companies as a result of complicated licensing agreemen