72.50 +0.28 (0.39%)
After hours: 4:12PM EDT
|Bid||72.23 x 1100|
|Ask||72.25 x 1100|
|Day's Range||71.45 - 75.45|
|52 Week Range||24.22 - 75.45|
|PE Ratio (TTM)||N/A|
|Earnings Date||Nov 6, 2018 - Nov 12, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||68.63|
Square Inc.’s hardware chief Jesse Dorogusker is ‘kind of obsessed’ with a metric that doesn’t appear anywhere on the company’s financial statements.
The Square Cash App—a popular mobile payment service developed by Square Inc. ( SQ) that allows users to conveniently buy bitcoins and transfer money using a mobile phone app—has announced expanding its bitcoin support to all the 50 U.S. states. Earlier this year, the Cash App launched a service that allows users to conveniently purchase bitcoins.
PayPal (PYPL) said it appreciates Third Point’s investment in its stock. A few days before PayPal reported its second-quarter results, Third Point revealed through an investor letter that it opened a new position in PayPal in the second quarter. PayPal went on an acquisition spree in the second quarter, inking deals worth more than $2.7 billion to buy four companies.
Japanese multinational SoftBank is planning to challenge PayPal (PYPL) in the digital payments market, according to a Bloomberg report. SoftBank’s digital payment service is slated to launch in Japan first and roll out globally later. SoftBank has teamed up with India-based e-commerce and mobile payments provider Paytm to launch the PayPal challenger, the report said.
U.S. stocks today ended solidly higher as the financial crisis in Turkey moved the back burner, at least for a day. IShares MSCI Turkey jumped 11% after two days of sharp losses.
The stock market showed mixed action early Tuesday. Top stock Nvidia advanced on its new graphics chip.
Square Cash had 33.5 million total downloads as of July, whereas Venmo had 32.9 million, according to Instinet.
Ryan McQueeney recaps the market's top morning headlines, including Square's latest bullish analyst note, today's cryptocurrency crash, Home Depot's earnings, and more. Later, he is joined by Brian Bolan, Zacks' growth guru and noted Tesla bull, to debate the electric car company's go-private plan.
Square’s stock (SQ) reached an all-time high of $75.15 today on reports that downloads of its mobile-payment service Cash App passed PayPal Holdings' (PYPL) Venmo for the first time in July. Nomura Instinet and Sensor Tower are reporting that Cash App's total downloads, at 33.5 million, edged past Venmo’s (32.9 million) because Square's service grew three times faster in July. Cash App is expected to contribute $30 million to $40 million—roughly 2% to 3% of Square's adjusted net revenue—in 2018, says Nomura analyst Dan Dolev.
Nomura Instinet expects Square Inc.’s ( SQ) Cash App to top $100 million in sales by 2020 as it dominates rivals like PayPal’s ( PYPL) Venmo. Cumulative downloads of Square’s Cash App have surpassed those of Venmo for the first time ever, according to data from Nomura and Sensor Tower. Now, Cash App has 33.5 million downloads to Venmo's 32.9 million.
Investing.com - Cryptocurrencies slumped in a massive sell-off on Tuesday, with Bitcoin falling to its lowest level since November.Bitcoin plunged 6.59% to $6,071.00 on the Bitfinex exchange, as of 8:50 AM ET (12:50 GMT), but still remained near a three-and-a-half-week low.The price of digital coins had risen in the end of July over rumors that the U.S. Securities and Exchange Commission could approve the first crypto exchange traded fund. But prices plunged after the agency postponed its decision to September.Cryptocurrencies overall lost almost $24 billion in the last 24 hours. ...
PayPal (PYPL) has partnered with India-based multinational lender HDFC Bank in a move that could help accelerate its expansion in the Indian market. PayPal’s launch of domestic services in India came a few months after Alphabet’s (GOOGL) Google launched an India-specific mobile payment service called Tez, a PayPal rival.
Square's stock is poised for further upside now that cumulative downloads of its Square Cash app have surpassed those of Paypal's Venmo for the first time, according to Nomura Instinet.