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☆ Mobileye Shares Open Higher in Stock-Market Debut
▼ + stars: | 2022-10-26 | by ( Corrie Driebusch | Tim Higgins | ) www.wsj.com time to read: 1 min

Shares of Mobileye Global rose 27% out of the gate in their trading debut, in one of the highest-profile and largest initial public offerings of the year. Intel automated car-driving unit initially traded at $26.71, above its IPO price of $21 a share. That gives Mobileye a valuation of more than $21 billion. The stock opened on the Nasdaq stock market a little before midday Wednesday, trading under the symbol MBLY. More than 3.5 million shares changed hands in the opening trade.

☆ Mobileye Shares Open Higher In Stock-Market Debut
▼ + stars: | 2022-10-26 | by ( Corrie Driebusch | Tim Higgins | ) www.wsj.com time to read: 1 min

☆ Mobileye Shares Close Higher in Stock-Market Debut
▼ + stars: | 2022-10-26 | by ( Corrie Driebusch | Tim Higgins | ) www.wsj.com time to read: 1 min

Shares of Mobileye Global rose 38% in their trading debut, providing a rare bright spot for an IPO market that is having its worst year in memory. Intel automated car-driving unit closed at $28.97, above its initial public offering price of $21 a share, giving Mobileye a valuation of roughly $23 billion. The stock opened on the Nasdaq Stock Market a little before midday Wednesday, trading under the symbol MBLY.

☆ Intel unit Mobileye prices IPO above range to raise $861 mln
▼ + stars: | 2022-10-26 | by ( Echo Wang | ) www.reuters.com time to read: +2 min

Mobileye said in a press release it has priced 41 million shares at $21 per share. The IPO values Mobileye at $16.7 billion, a far cry from the $50 billion valuation that Intel was initially hoping to achieve. FROZEN MARKETSHundreds of companies have postponed IPO plans this year due to volatility in capital markets. read moreIntel will retain a large stake, including all the Class B shares Mobileye plans to issue, according to a filing with the U.S. Securities and Exchange Commission. Mobileye first went public in 2014 at a roughly $5 billion valuation, before Intel acquired it for $15.3 billion in 2017.

☆ Mobileye IPO benefits from some driver assistance
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +2 min

Doing so helped Mobileye (MBLY.O)price its shares a bit above their indicated range, at $21 apiece, and spark a 38% jump in their market debut on Wednesday. The maker of components for driver-assistance systems, its parent company Intel (INTC.O) and two dozen underwriters slashed the original valuation target from $50 billion down to about the same $15 billion the chipmaker originally paid to buy the company five years ago. After a long drought in initial public offerings, Mobileye’s deal provides a glimmer of hope for new stock sales. Although Mobileye is unprofitable, its top line grew 41% in the three months ending July 2 compared to approximately the same stretch a year earlier. And despite briefly cracking open the IPO market, the deal failed to win Intel any additional credit.

☆ Intel's Mobileye unit valued at $21 bln as shares cruise higher in debut
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Shannon StapletonOct 26 (Reuters) - Shares of Mobileye Global Inc (MBLY.O) opened 27% higher on Wednesday, valuing the self-driving technology unit of Intel Corp (INTC.O) at $21.3 billion as investors lapped up what could be the last big IPO of 2022. It also underscores Mobileye's strong financials, analysts said, which attracted investors who have turned selective amid mounting economic challenges. "Investors now place greater focus on companies' free cash flows, revenues/profitability or path-to-profitability, over just growth projections," said Paul Go, global IPO leader at EY. Before being acquired by chipmaker Intel in a $15.3 billion deal in 2017, Mobileye had been listed on the New York Stock Exchange since 2014. On Tuesday, Mobileye was valued at $16.7 billion after selling shares above the marketed range of $18 to $20, to raise $861 million.

☆ Stocks making the biggest moves premarket: Boeing, Hilton, Harley-Davidson and others
▼ + stars: | 2022-10-26 | by ( Peter Schacknow | ) www.cnbc.com time to read: +3 min

Hilton Worldwide (HLT) – Hilton added 2% in the premarket after reporting better-than-expected quarterly earnings and raising its full-year forecast. Waste Management (WM) – Waste Management shares jumped 3% in premarket action after reporting better-than-expected quarterly earnings. Alphabet (GOOGL) – Alphabet slumped 6% in the premarket after it reported lower-than-expected quarterly profit and revenue. Mattel (MAT) – Mattel slid 5.5% in premarket trading after the toy maker cut its full-year profit forecast. Mattel reported a better-than-expected profit for its latest quarter, with revenue falling slightly shy of analyst forecasts.

☆ Mobileye pops more than 30% in market debut after spinning out of Intel
▼ + stars: | 2022-10-26 | by ( Ashley Capoot | ) www.cnbc.com time to read: +3 min

Mobileye shares popped more than 30% in their stock market debut on Wednesday after the maker of technology for self-driving cars was spun out of Intel . In a year that's seen no significant tech IPOs in the U.S., Mobileye offers investors an opportunity to get in on area of growth. At its IPO price of $21, Mobileye was valued at just $17 billion, resulting in minimal gains for Intel thus far. Intel will retain control of Mobileye and hold over 750 million shares of Class B stock, which has 10 times the voting power of Class A stock. Intel shares were down slightly on Wednesday and have lost about 47% of their value this year, while the Nasdaq is down 29%.

☆ Intel unit Mobileye prices IPO above range to raise $861 mln -source
▼ + stars: | 2022-10-25 | by ( Echo Wang | ) www.reuters.com time to read: +3 min

Mobileye priced 41 million shares at $21 per share, the source said, requesting anonymity ahead of an official announcement. The IPO values Mobileye at $16.7 billion, a far cry from the $50 billion valuation that Intel was initially hoping to achieve. FROZEN MARKETSHundreds of companies have postponed IPO plans this year due to volatility in capital markets. read moreIntel will retain a large stake, including all the Class B shares Mobileye plans to issue, according to a filing with the U.S. Securities and Exchange Commission. Mobileye first went public in 2014 at a roughly $5 billion valuation, before Intel acquired it for $15.3 billion in 2017.

☆ Intel Prices Widely Anticipated IPO for Self-Driving Car Unit Mobileye
▼ + stars: | 2022-10-25 | by ( Corrie Driebusch | ) www.wsj.com time to read: 1 min

Mobileye is set to start trading Wednesday on the Nasdaq stock exchange under the symbol MBLY. Intel self-driving car unit Mobileye Global priced its initial public offering at $21 a share, a dollar above the top of its targeted range, according to people close to the deal. Mobileye raised $861 million by selling 41 million shares, valuing the company at roughly $17 billion, the people said. That is more than the $15.3 billion Intel paid for the Mobileye in 2017 but a far cry from the $50 billion or more that the chip giant originally set its sights on when it unveiled plans for the listing late last year.

☆ Intel's Mobileye IPO eyes significantly lower valuation - report
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +1 min

Oct 17 (Reuters) - Intel Corp (INTC.O) is eyeing a valuation that is significantly lower than previously expected for the initial public offering of its self-driving car unit Mobileye, the Wall Street Journal reported on Monday, citing people familiar with the matter. Mobileye, which was originally expected to land a roughly $50 billion valuation, is now set to target one of under $20 billion and sell a smaller number of shares than originally planned, according to the report. Register now for FREE unlimited access to Reuters.com RegisterThe lower valuation underscores the downturn in the market for new listings, with the tech IPO market facing its worst drought in nearly two decades. The self-driving car unit is also planning to launch its roadshow for prospective investors on Tuesday, a day later than anticipated, WSJ reported. Register now for FREE unlimited access to Reuters.com RegisterReporting by Deborah Sophia in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

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