Software company raises $8 million
Austin software company Together Mobile has raised $8 million, according to A securities filing.
The company, which is currently in stealth mode, previously raised $5.4 million and $3.3 million earlier this year, according to CrunchBase, an online database of tech companies. The most current amount was raised from 116 investors, according to a recent filing with the U.S. Securities and Exchange Commission.
Company officials didn’t return a phone call seeking comment Friday.
Dow hits another high on hiring surge last month
NEW YORK — An unexpectedly strong jobs report gave stocks a lift on Friday, pushing the Dow Jones industrial average back to an all-time high.
The gains were led by banks, such as Bank of America and JPMorgan Chase, which stand to benefit from a pickup in lending as the economy strengthens.
Friday’s jobs report left investors grappling with how to interpret this week’s good economic news and what it means for the Federal Reserve’s stimulus program. That program has helped power this year’s stock rally.
The Dow gained 167.80 points, or 1.1 percent, to 15,761.78. It also closed at a record high on Wednesday.
The Standard & Poor’s 500 index ended 23.46 higher, or 1.3 percent, at 1,770.61, just a point below its record. The Nasdaq composite rose 61.90 points, or 1.6 percent, to 3,919.23.
SAC Capital pleads guilty in fraud case
NEW YORK — SAC Capital Advisors pleaded guilty to criminal fraud charges Friday, satisfying a deal with the government that requires the Connecticut-based hedge fund to pay a record $1.8 billion to settle charges that it allowed, if not encouraged, insider trading to occur for more than a decade.
The plea came in U.S. District Court in Manhattan four days after the government announced that the once influential hedge fund owned by billionaire Steven A. Cohen had reached the deal that also required it to shut down its operations to outside investors.
But Judge Laura Taylor Swain did not immediately accept the plea, saying she’d wait until a probation report is made and other papers are submitted for her review. She set a sentencing date for March 14, assuming she accepts it.
The plea was entered by Peter Nussbaum, SAC’s longtime general counsel, to a single count of wire fraud and four counts of securities fraud. In pleading guilty, Nussbaum said SAC Capital wanted to “express our deep remorse for the misconduct of each individual who broke the law while employed at SAC.”
Home Depot apologizes for racist tweet
NEW YORK — Home improvement retailer Home Depot Inc. on Thursday apologized for a tweet that showed a picture of two African-American drummers with a person in a gorilla mask in between them and asked: “Which drummer is not like the others?”
The tweet, from Home Depot’s official Twitter account, HomeDepot, was part of a “College Gameday” college football promotion on ESPN. It was pulled, but not before people took screen shots of it and it was widely circulated on social media. NBC and CNBC, among others, reported on the Tweet.
Home Depot said Friday that it has fired the person and outside agency that was responsible for the tweet, but did not disclose their names.
“We have zero tolerance for anything so stupid and offensive,” said Stephen Holmes, spokesman for the Atlanta-based company.