Stocks fell broadly on Wall Street Friday as investor jitters over the heated trade war between the world's two biggest economies overshadowed encouraging developments in conflicts pitting the U.S. against other key trading partners
The US initial-public-offering market has been packed with high-profile debuts of all sizes this year. But some of the most widely anticipated launches have faltered in their early days of trading. At the heart of the poor showings are companies' unclear paths to profitability and an uncertain economic backdrop, according toanalysts and investment advisors. Visit Markets Insider's homepage for more stories. On the surface, the US initial-public-offering market is sizzling.
Boeing's response to the two fatal crashes of its 737 Max planes was marked by delayed apologies and confusing messages, according to experts, analysts, and lawyers who talked to Business Insider. This likely deepened mistrust in Boeing rather than winning it back as the company is aiming to do, they said. Boeing seemed to defend the plane's safety at the same time as apologizing for the crashes and promising to update the plane.
According to Reuters, Wall Street closed lower on Friday amid continuing trade tensions. Industrial and tech shares were down and the Dow marked it's fourth consecutuve week of losses in its longest weekly losing streak in three years. While all three major U.S. indexes turned decisively negative following a report from CNBC that trade negotiations between the U.S. and China have stalled. The S&P 500 and the Nasdaq suffered their second successive weekly fall.
Reuters reports that Hewlett Packard Enterprise Co will purchase supercomputer manufacturer Cray Inc. The deal was announced on Friday by Cray and is valued at approximately $1.30 billion, net of cash. The purchase is expected to close by the first quarter of HPE’s fiscal year 2020. Hewlett Packard Enterprises said it expects the deal to increase its footprint in federal business and academia, as well as selling supercomputing products to its commercial clients.
Stripe COO Claire Hughes Johnson stops by to talk about the acquisition of Touchtech, going "under the hood" of international payment methods, and whether or not an IPO is in the near future.
Business Insider reports that Amazon is building a new warehouse specifically for dangerous items. The new 500,000 square foot warehouse will be based in Mississippi and will be specially designed to store and fulfill orders of dangerous items like bleach cleaner, nail polish, and bear spray.