Shares in online payments firm Square took a pounding Friday after the group led by Twitter co-founder Jack Dorsey reported earnings that fell short of investor expectations. The San Francisco-based firm, which produces hardware and software for merchant and person-to-person payments, on Thursday reported a loss for the first quarter of $96.8 million, more than double the deficit from a year ago. Mark Palmer at BTIG Research said a concern was the looming expiration of the "lock-up" period after which insiders can sell their shares.
An Istanbul court on Friday jailed two opposition journalists on charges of revealing state secrets, in a trial that has become a lightning rod for concerns about the erosion of press freedom in Turkey. Can Dundar, editor-in-chief of leading opposition daily Cumhuriyet, was sentenced to five years and 10 months at the closed-door trial, while his Ankara bureau chief Erdem Gul was handed five years in prison, television stations said. The sentencing came hours after Dundar escaped an apparent attempt on his life by a gunman outside the courthouse.