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☆ Cramer's Lightning Round: GE Vernova is a buy
▼ + stars: | 2024-05-03 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon HCA Healthcare's year-to-date stock performance. Stock Chart Icon Stock chart icon GE Vernova' year-to-date stock performance. Live Nation Entertainment : "If it weren't for the fact that I fear a government investigation, I would say buy, buy, buy. Stock Chart Icon Stock chart icon Kyndryl's year-to-date stock performance. Stock Chart Icon Stock chart icon Dorian LPG's year-to-date stock performance.

Persons: it's, It's, Dorian LPG's, Dorian, I've Organizations: HCA, GE Vernova, GE

☆ Lightning Round: GE Vernova is a buy, says Jim Cramer
▼ + stars: | 2024-05-03 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailLightning Round: GE Vernova is a buy, says Jim Cramer'Mad Money' host Jim Cramer weighs in on stock including: HCA Holdings, GE Vernova, Live Nation, Kyndryl, Rubrik, Dorian LPG, and more.

Persons: Jim Cramer, Dorian LPG Organizations: GE, HCA Holdings, GE Vernova

☆ Viking is the biggest IPO of the year, capping off a huge month for IPOs
▼ + stars: | 2024-05-01 | by ( Bob Pisani | ) www.cnbc.com time to read: +2 min

The Viking Holdings Ltd. IPO, which starts trading today on the New York Stock Exchange, will be the biggest IPO of 2024 so far. Viking is only the biggest in a month of standouts. Eighteen IPOs raised a combined $5.3 billion in April, according to Renaissance Capital, the busiest month for IPOs since November 2021. The stock market had a miserable April, with the S & P 500 down 4% and, unsurprisingly, many recent IPOs were down. All of the larger, most recent IPOs remain above their initial offering price.

Persons: Del Organizations: Viking Holdings, New York Stock Exchange, Renaissance Capital, IPOs, Viking, Holdings, Epic Locations: Bermuda, Del Monte

Following a long period of waiting, "the IPO market's back." That's according to Colin Stewart, Morgan Stanley's global head of technology equity capital markets. In an interview with CNBC's "TechCheck" on Monday, Stewart said 10 to 15 more tech companies could go public before the end of 2024, with an even "better year" in store for 2025. Morgan Stanley was the lead banker on the Reddit and Astera IPOs, positioning itself to collect roughly $37 million in total fees. Wall Street rival Goldman Sachs led the latest venture-backed tech IPO last week.

Persons: Colin Stewart, Morgan, CNBC's, Stewart, It's, we've, Reddit, Morgan Stanley, Astera, Goldman Sachs Organizations: Wall Street, New York Stock Exchange

On Wednesday the Microsoft -backed company priced shares at $32 each, above its expected range of $28 to 31 per share. In selling 23.5 million shares, it raised $752 million. Rubrik shares are trading under the ticker "RBRK." Many technology companies appeared on public markets in the 2010s as central banks kept interest rates low. Rubrik, founded a decade ago, reported a $354 million net loss in the latest fiscal year, compared to a $278 million loss in the year prior.

Persons: Rubrik, It's, Bipul Sinha Organizations: New York Stock Exchange, Microsoft, Astera Labs

☆ The IPO reopening is real. Just look at Rubrik, the first unicorn to go public in months
▼ + stars: | 2024-04-25 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

Last night data security firm Rubrik priced 23.5 million shares at $32, above the price talk of 23 million shares at $28-$31, raising $752 million. Rubrik is the first tech unicorn IPO since last fall. Marex Group, a UK-based financial services company known for its global clearing business, priced 15.4 million shares at $19, the midpoint of the price talk of $18-$21, raising $292 million. Loar Holdings, which makes aerospace and defense components, priced 11 million shares at $28, above the range of $24-$26, raising $308 million. All eyes on Rubrik Rubrik is an important test of the tech IPO market.

Persons: Matt Kennedy, Rubrik, Kennedy, Ingram, Del Organizations: Marex, Nasdaq, Loar Holdings, New York Stock Exchange, Viking Holdings, Arm Holdings, Renaissance Capital, UL, Astera Labs, Forge, Companies, Ingram Micro, Epic Locations: Del Monte

☆ Rubrik CEO: We've transformed the backup and recovery industry into a data security platform
▼ + stars: | 2024-04-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRubrik CEO: We've transformed the backup and recovery industry into a data security platformBipul Sinha, Rubrik co-founder, chairman and CEO, joins 'Squawk on the Street' to discuss how the company grows from the recent spate of ransomware attacks, what investors should expect from Rubrik's growth profile, and more.

Persons: We've, Sinha, Rubrik

Rubrik, a data-management software company backed by Microsoft , priced its IPO at $32 a share, according to a person familiar with the matter. Rubrik raised $752 million through the initial public offering, valuing the company at $5.6 billion. Rubrik now gets 91% of its revenue from subscriptions, up from 59% two years ago. Revenue increased less than 5% in the fiscal year that ended on Jan. 31, but annual recurring revenue from subscriptions jumped 47%. "Our key top-line metric is subscription ARR," Rubrik finance chief Kiran Choudary said in a videotaped presentation for the company's IPO roadshow.

Persons: Rubrik, Reddit, Kiran Choudary, Bipul Sinha, Sinha Organizations: Microsoft, New York Stock, Nasdaq, Astera Labs, Barclays, Carhartt, Venture Locations: U.S, Rubrik

☆ IPO market continues to open up, market downdraft be damned, but higher rates loom
▼ + stars: | 2024-04-18 | by ( Bob Pisani | ) www.cnbc.com time to read: +3 min

For proof that the market for initial public offerings continues to open up despite the downdraft in the market, just look at this week. This spring reopening, however, is threatened by the specter of higher interest rates. Why higher interest rates hurt IPOs The major headwind: higher for longer interest rates. technology) are more sensitive to a change in interest rates, because their cash flow projections are further out. Still, most admit higher rates make it more difficult to get investors excited about IPOs.

Persons: Ibotta, Rubrik, Matt Kennedy, IPOs, That's, Kennedy, Santosh Rao Organizations: Centuri Holdings, Southwest Gas Holdings, UL Solutions, Group, Renaissance Capital, Loar Holdings, Manhattan Venture Partners

☆ There are green shoots appearing in the IPO market. Here are the stocks to watch going public soon
▼ + stars: | 2024-04-10 | by ( Bob Pisani | ) www.cnbc.com time to read: +6 min

Two months ago, I wrote a story entitled, "The IPO market is looking very shaky and facing challenges galore." Two months later, the IPO market is still shaky, but there are definite signs of improvement. Second, three $100 million IPOs have filed to go public in the past week, including Viking (the cruise line operator) and Rubrik, a data management platform. Greg Martin at Rainmaker Securities told me that the recent performance of Reddit and Astera Labs, "Were nice shots in the arm for the IPO market. Even with markets at new highs, the specter of interest rates creeping up is still hanging over the IPO market.

Persons: Matt Kennedy, Reddit, Greg Martin, Ibotta, Ingram, Del, Viking, Howe Ng, I'm, Martin, Rainmaker, Santosh Rao Organizations: IPOs, Viking, Renaissance Capital, Astera Labs, Rainmaker Securities, NYSE, UL Solutions, Underwriters Laboratories, Nursing, Centuri Holdings, Labs, Companies, Ingram Micro, Epic, Manhattan Venture Partners Locations: IPOs, Del Monte

☆ Despite gen AI hype, venture capitalists are still largely on the sidelines
▼ + stars: | 2024-04-03 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +3 min

The dearth of dealmaking shows that, despite a rebound in tech stocks last year and continuing hype around generative AI, venture capitalists are still largely on the sidelines. The Federal Reserve has indicated that cuts to its benchmark interest rate are likely coming in 2024, but for the moment they remain steady. Fed Chairman Jerome Powell said Wednesday it will take a while for policymakers to evaluate the current state of inflation, keeping the timing of potential interest rate cuts uncertain. There were 2,882 venture deals in the first quarter, the lowest since the third quarter of 2017, according to PitchBook. According to PitchBook, Reddit and Astera made up 73.4% of the total exit value in the U.S. in the first quarter.

Persons: Jerome Powell, PitchBook, Astera, Gary Tann Organizations: PitchBook, Federal, Astera Labs Locations: U.S, Rubrik

☆ CNBC Daily Open: Fights in the House of Mouse
▼ + stars: | 2024-04-02 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +2 min

Actors dressed as Walt Disney characters Mickey Mouse (left) and Minnie Mouse (right) perform during a press preview for the "Minnie Besties Bash!" This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Rumbling signs of lifeThe IPO market in the U.S. is showing signs of revival after more than two years. CNBC previously reported that United would pause pilot hiring this spring for the same reason.

Persons: Walt Disney, Mickey Mouse, Minnie Mouse, Minnie Besties, Jerome Powell's, Slack, Matt Orton Organizations: Tokyo Disneyland, CNBC, Dow Jones, Nasdaq, European Commission, United Airlines, Boeing Locations: Tokyo, Urayasu, Japan, U.S

☆ CNBC Daily Open: Fights in Mickey's club house
▼ + stars: | 2024-04-02 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +2 min

Actors dressed as Walt Disney characters Mickey Mouse (left) and Minnie Mouse (right) perform during a press preview for the "Minnie Besties Bash!" This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. U.S. stocks got off to a tentative start for the second quarter as Treasury yields rose on Monday. [PRO] Top 2Q betsBank of America names its top picks for the second quarter, including one Big Tech company.

Persons: Walt Disney, Mickey Mouse, Minnie Mouse, Minnie Besties, Korea's, Jerome Powell's Organizations: Tokyo Disneyland, CNBC, Asia Hong, Japan's Nikkei, CSI, U.S, Rapidus Corporation, of America, Big Tech Locations: Tokyo, Urayasu, Japan, Asia Hong Kong, Asia, Pacific, U.S, Beijing, China, Korea, Taiwan, Hokkaido

☆ Rubrik files to go public as tech companies see thawing of IPO market
▼ + stars: | 2024-04-01 | by ( Jordan Novet | ) www.cnbc.com time to read: +1 min

Rubrik, a 9-year-old data security software vendor, filed to go public on Monday, the latest venture-backed company to make moves toward the public market after an extended lull dating back to late 2021. More than three-quarters of Rubrik's revenue went to pay for sales and marketing in the latest fiscal year. Following a dry spell that lasted over two years, the IPO market is showing signs of life in recent weeks. In March, social media company Reddit and data center technology vendor Astera Labs went public on consecutive days. Prior to that, the last two venture-backed tech IPOs in the U.S. were Instacart and Klaviyo in September 2023, but those deals received tepid responses on Wall Street and failed to crack open the window.

Persons: Rubrik Organizations: Dell, IBM, New York Stock Exchange, Astera Labs Locations: U.S, Klaviyo

☆ AI startup Glean lures Citigroup as investor at $2.2 billion valuation after revenue quadruples
▼ + stars: | 2024-02-27 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Arvind Jain, co-founder and CEO of Glean, makes a selfie with employees of the startup, which is based in Palo Alto, Calif. Artificial intelligence startup Glean attracted tech companies Databricks and Workday into its latest investment round. Glean, whose software sifts through corporate repositories to provide quick answers to workers' questions, said Tuesday that it's raised $200 million at a $2.2 billion valuation. Glean's annualized revenue at the end of January was $39 million, up from $10 million a year earlier. While Glean initially targeted the tech industry, it's now looking to expand in financial services, retail, manufacturing and other sectors, Jain said.

Persons: Arvind Jain, it's, Kleiner Perkins, Arvind Purushotham, OpenAI, Jain, Glean, Purushotham, Citi hasn't, Cathy Gao Organizations: Wall, Banking, Citigroup, Lightspeed, Sequoia, Citi Ventures, CNBC, Microsoft, Google, Sony Electronics, Citigroup's, Citi, Nvidia, Sapphire Locations: Palo Alto, Calif, LLMs, OpenAI, Glean

☆ The IPO market is looking very shaky and facing challenges galore
▼ + stars: | 2024-02-01 | by ( Bob Pisani | ) www.cnbc.com time to read: +4 min

The IPO market is looking very shaky and confronted with a host of challenges that are holding it back. Regardless, recent IPO performances have been poor across the board. IPO investors cheered the advance by bidding up the Renaissance Capital IPO ETF (IPO), a basket of recent IPOs, in December, assuming the IPO market would open up. CNBC's Jim Cramer, speaking early Thursday on Squawk on the Street , highlighted another obstacle for IPO buyers: investors are getting comfortable returns elsewhere with far lower risk. When David Faber asked why the IPO market was off to such a slow start with the markets so strong, Cramer replied, "I think it's the five percent solution," he said, referring to the ocean of money still sitting in money market funds.

Persons: Jay Powell's, Birkenstock, Smith Douglas, Amer, Greg Martin, Martin, Matt Kennedy, Kennedy, What's, Rainmaker, Del, CNBC's Jim Cramer, David Faber, Cramer Organizations: Amer, Wilson, NYSE, Smith Douglas Homes, BrightSpring, Renaissance Capital, Rainmaker Securities, Renaissance, Microsoft Locations: EBITDA, Squawk

☆ IPO watchers are pinning hopes for recovery on a strong stock market and the AI boom
▼ + stars: | 2024-01-22 | by ( Bob Pisani | ) www.cnbc.com time to read: +8 min

Yet the main IPO ETF, the Renaissance Capital IPO ETF ( IPO ), has been for sale most of the month. "For the IPO market to open up, it would help not to have our IPO ETF down 9%," he said. Forge Global maintains a Private Market Index , a measure of 75 late-stage pre-IPO companies. "This tells you valuations are getting reset in the private market," Ng told me. Can AI save the IPO market?

Persons: Matt Kennedy, Homebuilder Smith Douglas, Don Short, Salomon, Wilson, Howe Ng, Ng, Del, Waystar, Kim Kardashian's, Short, Vincent Harrison Organizations: Renaissance Capital, Nasdaq, Amer Sports, Arc'teryx, Forge, SEC, Companies, Reuters, Auto, Turo, CNBC, Microsoft, Gaming, SpaceX, Forge Global Locations: Kazakhstan, IPOs, Pitchbook

☆ Dud IPO market closes 2023 with a whimper for the second year in a row
▼ + stars: | 2023-12-08 | by ( Bob Pisani | ) www.cnbc.com time to read: +8 min

Another year, another lousy IPO market. The 2023 IPO market is closing with a whimper, not a bang. You'd think the IPO market would be bubbling, but it's dead quiet. Source: Renaissance Capital For a good part of the year, the excuse was interest rates were rising, the market was too volatile, and the after market performance of 2023 IPOs was terrible. The November rally is too little too late to save the IPO market Unfortunately, it all came a little too late to rescue 2023.

Persons: Birkenstock, You'd, Rivian, Doordash, IPOs, Matt Kennedy, Don Short, you've, haven't, confidentially, Waystar, Kim Kardashian's, Musk, Howe Ng, Ng, Kyle Stanford, Instacart, it's, James Ulan, Stanford, Pitchbook, Greg Martin Organizations: Renaissance, That's, IPOs, Hertz, Sotera, ARM, Renaissance Capital, Klarna, Microsoft, Forge Global, Bloomberg, SpaceX, Nvidia, Rainmaker Securities Locations: Pitchbook

☆ Premarket stocks: Shein and Reddit IPOs don’t herald a Wall Street boom. Here’s why
▼ + stars: | 2023-12-04 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +9 min

New York CNN —It’s been an exciting few weeks for the IPO market. People try to draw an analogy between the IPO market and a blocked pipe. That is one reason why the IPO market feels less stymied than it did 12 months ago. But if the current IPO market kicks off, it’s because of other macroeconomic factors. They’re going to very rapidly acquire customers and care much less about long term financial sustainability and climate and the environment.

Persons: New York CNN — It’s, Angela Lee, Bell, We’ve, Reddit, ‘ it’s, Shein, It’s, it’s, we’ve, Ben Minicucci, Eva Rothenberg, ”, Peter Ingram, Robin Hayes, Minicucci, “ We’ll, Anna Cooban, Svein Tore Holsether Organizations: CNN Business, Bell, New York CNN, Reuters, Microsoft, Wall Street, Columbia Business School, Federal Reserve, Alaska Air, Hawaiian Airlines, Sunday, Alaska Airlines, American Airlines, JetBlue Airways, Justice Department, District of Columbia, Spirit Airlines, Yara, CNN, International Maritime Organization Locations: New York, Reddit, Minicucci, Delta, Southwest, Norwegian, decarbonization

Rubrik may raise more than $750 million in its IPO, three of the sources added, though that may change based on market conditions as the preparations are still at an early stage. Rubrik currently generates annual recurring revenue of about $600 million, one of the sources said. Three of the sources said Rubrik could choose to go public in 2024, if the IPO market becomes more welcoming. Founded in 2014 by venture capitalist Bipul Sinha, Rubrik makes cloud-based ransomware protection and data-backup software. SoftBank-backed Cohesity Inc, which competes with Rubrik, is also preparing to go public, having filed confidentially for an IPO in late 2021, Reuters reported.

Persons: Goldman Sachs, Rubrik, Bipul Sinha, Johnson, Echo Wang, Milana Vinn, Krystal Hu, Matthew Lewis Organizations: YORK, Microsoft Corp, Barclays Plc, Citigroup Inc, Barclays, Citi, Nvidia Corp, Depot Inc, Bain Capital Ventures, Lightspeed Venture Partners, Kenvue Inc, Johnson, SoftBank Group Corp, Inc, Reuters, Cohesity Inc, Thomson Locations: U.S, Palo Alto , California, ., New York

☆ ZScaler and Rubrik CEOs on securing the cloud through new partnership
▼ + stars: | 2023-04-24 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailZScaler and Rubrik CEOs on securing the cloud through new partnershipZScaler CEO Jay Chaudhry and Rubrik CEO Bipul Sinha, joins 'Closing Bell: Overtime' to discuss cybersecurity and the company's partnership with each other.

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