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Relief at Square IPO
Square, the payments processing company founded by Twitter co-founder & CEO Jack Dorsey, went public this week at a valuation below its latest private funding round. While the stock soared almost 50% on its debut, the low-balled pricing might have suggested that private markets (e.g. those driven by venture capital) have become overvalued.
Stocks Went North Again
US stocks bounced back from weakness the previous week and gained over 3%. This was despite the terror attacks in France, which could have caused investors to become more cautious (but didn’t).
Gold, Oil, Copper & virtually all commodities had (another) terrible week
Oil flirted with its post-financial crisis low when it briefly went below $40 per barrel and “industrial” commodities like copper did hit 6-year lows. The weakness in China persists and the strengthening US dollar actually sends commodity prices lower. Right now, there are just too many commodities in the world and not enough demand for them.
You can now buy Tinder stock
Well actually it would be stock of the company that owns Tinder (and other online dating companies): Match.com. Investors seemed to like the idea as they sent the stock almost 20% higher on its first day of trading. There was some light entertainment for investors when Match (for legal reasons) had to publicly highlight an interview where the Tindle CEO bragged about his sex life [link http://www.usatoday.com/story/money/markets/2015/11/18/tinder-ceo-brags-sexual-exploits/76023208/].
Home Depot nailed it
It and Lowe’s said they made a lot more money in the latest quarter than investors were expecting. As house prices keep climbing, people are feeling pretty comfortable about “investing” in their homes. And we’re not (yet) buying that sort of stuff off of Amazon.
Wal-Mart (finally) had some good news for investors
Wal-Mart stock has had a terrible year (down around 30%). Over the summer it said that it would have to spend a lot of money to, among other things, compete with Amazon. The latest info suggests that Wal-Mart might be turning a corner: it's stock was up 6% for the week.
W Hotels Are Getting A New Owner
Marriott is buying Starwood (the owner of the W brand) in what will become the biggest hotel chain in the world. Bigger is better when fighting with online price comparison sites over, for example, how much fees they charge for bookings. Interestingly, AirBnb will have more than double the number of rooms than the new company.