Lyft issues a first-quarter revenue forecast below analysts' expectations; Spotify rises after ValueAct Capital Management secures a stake in the music-streaming company. Read More...
Reuters
US STOCKS-Nasdaq ends lower as Treasury yields rise, Lyft plunges
The Nasdaq ended lower on Friday as megacap growth stocks came under pressure after Treasury yields pointed to higher interest rates and shares of ride-hailing firm Lyft plunged following a downbeat profit forecast. “Higher bond yields are going to more adversely affect the higher growth technology companies.” According to preliminary data, the S&P 500 gained 8.99 points, or 0.22%, to end at 4,090.49 points, while the Nasdaq Composite lost 71.12 points, or 0.60%, to 11,718.46.
