Apple to buy Texture


The markets traded mixed during the midday with the Dow plunging 103 points to 25,232. Nasdaq climbed 39 points to 7600.

Apple will acquire digital magazine subscription service Texture for an undisclosed sum. Modeled after Netflix's streaming service, Texture users pay $9.99 per month for access to over 200 magazines such as Esquire, Good Housekeeping, People and Vanity Fair. Articles can also be downloaded to be read on airplanes or in remote areas that lack internet access.

Ford will introduce a limited edition Mustang GT California Special next year that boasts a 5-liter, 460 horsepower, 8-cylinder engine. The California Special will feature a blacked out grille, a side stripe and vintage inspired colors such as Velocity Blue and Need for Speed Green. Customers can also upgrade to a 12-speaker B&O Play audio system.

Dropbox has filed for an initial public offering at a valuation of $7.1 billion. Three years ago, the cloud storage service was valued at approximately $10 billion. The company reported revenue of $1.11 billion in 2017.

In the broad market, advancing issues outpaced decliners by a margin of 5 to 4 on the NYSE and by 3 to 2 on Nasdaq. The broader S&P 500 edged up a point to 2,787. Bitcoin tumbled $643 to $8,901.

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