Morning Scan: Square IPO Disappoints, but JPM Protected; Robo Advise...

Wall Street Journal

Square's IPO underachieved, as the fintech startup was forced to slash its share price to $9 from an initial expected range of $11 to $13. The Journal explained what happened thusly: "Public investors are growing more skeptical of the enormous valuations that venture capitalists are putting on private technology companies." Then there's this point: "The company is yet to prove it can turn the business profitable," said analysts at Susquehanna International Group. ...