Morning Market Report 3/12/2018

The KUIK Morning Market Report for Monday, March 12:

Markets are up.

Index

Direction

Change

Units

Index

Time

Change

Dow Jones Industrial Average

Up

                      78

 points

          25,414

7:06 AM

S&P500

Up

0.3%

percent

           2,794

Nasdaq Composite

Up

0.4%

percent

           7,589

            3.00

30 Year Treasury

Down

                       (1)

Basis Points

             3.15

Annual Yield

Dropbox set its value between $7 and $8 billion ahead of its initial public offering. In a filing today, the web-storage and collaboration said it expects its shares to price in a range of $16 to $18. At the midpoint of that range, based on a fully diluted share count, its valuation would be $7.4 billion. That below the $10 billion valuation where the company raised private money in 2014. With the IPO, the compan wants to raise $612 million of capital at the midpoint of its range, and it would receive proceeds of almost $530 million.

Jason Bloomberg, president of research firm Intellyx says the most dangerous threat we face in 2018 is illicit mining of cryptocurrencies like Bitcon, known as “cryptojacking.”  That’s when hackers sneak mining software into corporate networks, PCs, and other devices. Writing in Forbes, he says it could be a problem “Because this type of cyberattack is ‘relatively’ benign" which means "it’s positioned to run amuck, taking over computers, networks, data centers and cloud environments around the world.” Bitcoin is up 2.4% to $9,770.

Serving the West Side first, I am Bill Roller of brcapitalinc.com for 1360 KUIK.

www.marketwatch.com/story/dropbox-sets-ipo-target-valuation-at-7-billion-to-8-billion-2018-03-12-91034125#false

www.marketwatch.com/story/the-most-dangerous-threat-of-2018-and-why-we-need-to-slay-the-beast-2018-03-12?dist=markets#false

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