| The KUIK Morning Market Report for Monday, May 11: | |||||||
| Markets are flat. | |||||||
| Index | Direction | Change | Units | Time | Change | ||
| Dow | Unchanged | – | points | 18,172 | 6:59 AM | ||
| S&P500 | Down | 0.0% | percent | 2,116 | (0.49) | ||
| Nasdaq Composite | Up | 0.1% | percent | 5,010 | 6.44 | ||
| 30 Year Treasury | Up | 5 | Basis Points | 2.95 | Annual Yield | ||
| Uber Technologies, the world’s most highly capitalized startup, plans to raise another large round of funding. The San Francisco-based ride-sharing company briefed investors on its plans to raise between $1.5 billion and $2 billion in new funding. It expects the funding to value the company at $50 billion or higher,although Uber’s plans could change. At that level, Uber could become the most valuable venture-backed startup in history. Only Facebook had a $50 billion valuation before going public. | |||||||
| Etsy the art and designer goods web seller, was downgraded to underperform from neutral at Wedbush today, on concerns the company may face increased scrutiny over seller practices, including the potential sale of counterfeit goods. Wedbush analyst Gil Luria said that his research, indicates that as many as two million items on Etsy, or around 5% of all merchandise, may be counterfeit or constitute trademark or copyright infringement. Impacted brands may include Louis Vuitton, Chanel, Michael Korls, as well as a range of Disney and NFL brands, according to Luria. While he said Etsy is “unlikely to be directly liable” for the infringements, brands are increasingly pursuing sellers on Etsy, which could “materially reduce listing fees and commissions.” | |||||||
| Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK. | |||||||
| http://www.marketwatch.com/story/uber-looking-to-raise-up-to-2-billion-2015-05-11 | |||||||
| http://www.marketwatch.com/story/etsy-downgraded-on-alleged-counterfeit-concerns-2015-05-11 | |||||||
| For today’s Morning Market Report click to listen-> | |||||||