Slack reference price for direct listing set at $26/share
The New York Stock Exchange on Wednesday set the reference price for Slack Technologies Inc’s direct listing at $26 per share.
Factbox: What is Slack?
Slack Technologies Inc, whose instant messaging app has taken workplaces by storm, is scheduled to go public via a direct listing on June 20, instead of the more popular initial public offering route.
DoubleLine’s Gundlach says Fed’s ‘pivot’ is following bond market’s lead
Jeffrey Gundlach, chief executive of DoubleLine Capital and the most widely followed bond investor, said the Federal Reserve’s dovish turn in its policy statement on Wednesday took its lead from the bond market.
Fed sees case building for interest rate cuts this year
The U.S. Federal Reserve on Wednesday signaled interest rate cuts beginning as early as July, saying it is ready to battle growing global and domestic economic risks as it took stock of rising trade tensions and growing concerns about weak inflation.
Stocks approach record as Fed soothes Wall Street’s fears
The S&P 500 approached a record high on Wednesday after the Federal Reserve signaled potential interest cuts later this year, reassuring investors worried that the U.S.-China trade war could stall economic growth.
Facebook called before Senate panel over digital currency project
Facebook Inc’s plans to create a global cryptocurrency will face scrutiny from the U.S. Senate Banking Committee on July 16, the latest sign that policymakers around the globe are casting a wary eye on the project.
Oracle quarterly profit beats estimates; shares rise
Oracle Corp beat fourth-quarter revenue and profit estimates on Wednesday, as the business software maker benefited from demand for its on-premise IT, cloud services and license support businesses, sending its shares up as much as 7% in extended tradin…
Global stocks gain, dollar weakens after Fed signals possible rate cuts
A gauge of global stock markets strengthened on Wednesday, bolstered by gains on Wall Street, and benchmark U.S. Treasury yields and the dollar dropped after the Federal Reserve signaled possible interest rate cuts over the rest of this year.
PG&E completes safety inspection of distribution infrastructure
Electric utility PG&E Corp said on Wednesday it has completed visual inspections of about 99% of its distribution infrastructure to provide additional precautionary measures intended to reduce wildfire risk.
Wall Street rises as investors cheer Fed rate cut signal
The S&P 500 approached its record high on Wednesday after the Federal Reserve signaled potential U.S. interest rate cuts later this year, reassuring investors worried that the U.S.-China trade war could stall economic growth.
