U.S. indices bounced back from a down day Thursday to close trading Friday in the green across the board.
The Dow Jones Industrial Average spent most of the day in negative territory before closing the session up 0.21%, or 54 points, to 26,072. The Nasdaq rose 0.55%, or 40 points, to 7,336 and the S&P 500 climbed 0.44%, or 12.27 points, to 2,810.
Snap Sends Memo to Plug Leaks
Snap Inc. (SNAP) is getting serious about its leakage problem, sending an internal memo to employees saying that people caught exposing private company information could be subject to a litany of penalties including jail time.
"If you leak Snap Inc. information, you will lose your job and we will pursue any and all legal remedies against you," he said. "And that's just the start. You can face personal financial liability even if you yourself did not benefit from the leaked information," Snap general counsel Michael O'Sullivan said in the memo which was obtained by Cheddar Scoops.
Last week, Snap had to deal with a story published by The Daily Beast that featured confidential metrics about SnapChats features.
Regulators Charge Bitcoin Trader With Fraud
The U.S. Commodity Futures Commission announced that it is charging Patrick K. McDonnell and his company CabbageTech with "fraud and misappropriation in connection with purchases and trading of Bitcoin and Litecoin."
The Staten Island-based outfit had promised customers real-time trading advice, which it never provided before it essentially disappeared after receiving payment.
"Defendants also solicited 'lifetime' memberships in a more exclusive trading sector that would provide greater opportunities to profit from virtual currency trading," the complaint said, according to CNBC. "For example, one such opportunity purported to offer profits as much as 300% return on an investment in less than a week."
The commission wants to return funds to defrauded customers.
Bed Bath & Beyond Recalls Nearly 200,000 Comforters
Bed Bath & Beyond (BBBY) announced the recall of nearly 200,000 UGG brand comforters over concerns about mold. The retailer issued a warning to anyone who purchased the bedding to stop using the product immediately.
The comforters were manufactured in Hong Kong and imported and distributed by a New Jersey-based Bed Bath & Beyond affiliate.
The mold can pose a risk of respiratory infections in individuals with compromised immune systems, damaged lungs or an allergy to mold.
Hackers Breached OnePlus Back in November
Chinese cellphone manufacturer OnePlus announced that it suffered a data security breach back in November that potentially exposed the credit card info of up to 40,000 customers.
Last week hundreds of customers reported fraud on their accounts after using electronic payment over the OnePlus website.
OnePlus will offer free credit monitoring to affected customers and said that it is informing law enforcement and data protection authorities across its operating regions.
Amazon Raises Prime Pricing
Amazon AMZN is raising the price of a monthly subscription to its Prime premium services to $12.99 per month from $10.99 per month.
The price of Amazon's Prime program for students is also getting more expensive with fees rising from $5.49 to $6.49 per month.
"We have expanded Prime Free Same-Day and Prime Free One-Day delivery to more than 8,000 cities and towns. We also continue to introduce new, popular and award-winning Prime Originals...Members also enjoy a growing list of unique benefits like Prime Music, Prime Reading, exclusive products and much more," Amazon said in a statement.
Amazon shares were up 0.45% in morning trading Friday.
SEC Declines Crypto ETFs
The Securities and Exchange Commission said that there are too many questions surrounding cryptocurrencies for it to sign off on exchange-traded funds for bitcoin and other cryptocurrencies.
"Recently, the growth in cryptocurrencies and cryptocurrency-related products has attracted significant attention, and we have seen interest among sponsors in offering registered funds that would hold these new digital products," the SEC's letter read.
"[We stand] ready to engage in dialogue with sponsors regarding the potential development of these funds. We believe, however, that there are a number of significant investor protection issues that need to be examined before sponsors begin offering these funds to retail investors."
Coca-Cola Wants to Be Green by 2030
Coca-Cola (KO) announced plans to collect and recycle 100% of its bottles and cans by 2030. The company also plans to create more environmentally friendly bottles by reducing the amount of plastic it uses.
"Consumers around the world care about our planet, and they want and expect companies to take action," CEO James Quincey said. "That's exactly what we're going to do, and we invite others to join us on this critical journey."
United Airlines Will Launch Premium Cabins in 2018
United Airlines (UAL) will launch premium economy cabins at some point in 2018, according to an internal memo.
"International premium economy is coming.
Later this year, we'll begin to introduce United's Premium Plus. Available on select international flights, United® Premium Plus will give you more space, comfort and amenities. The seats will be more spacious and you'll enjoy upgraded dining on china dinnerware, free alcoholic beverages, a Saks Fifth Avenue blanket and pillow, an amenity kit and more," the memo said.
Google Partners With China's Tencent for Licensing Agreement
Google (GOOGL) announced that it is partnering with Chinese tech company Tencent (TCEHY) for a patent cross-licensing agreement. Financial details of the deal weren't disclosed, but Google said that the deal covers "a broad range of products and technologies."
"We're pleased to enter into a patent cross-license with Tencent. By working together on agreements such as this, tech companies can focus on building better products and services for their users," Google said in a statement.
Google shares were up 0.35% premarket.
U.S. stock futures were rising across the board premarket Friday, indicating a strong opening for markets a day after the major indices retreated from their all-time highs.
S&P 500 futures were rising 0.3% premarket, Nasdaq futures were climbing 0.46% and Dow futures were gaining 0.3%.
World markets were showing strength with the Shanghai Composite, Hang Seng and Nikkei all closing the day in positive territory.
In Europe the DAX in Germany was leading the way, rising more than 1% with about four hours left in trading.