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☆ This startup found success using A.I. to build beauty products. But can it keep making money?
▼ + stars: | 2023-03-01 | by ( Gabrielle Fonrouge | ) www.cnbc.com time to read: +7 min

Oddity Il Makiage Coutesy: OddityOddity — the direct-to-consumer beauty and wellness platform known for its ubiquitous Il Makiage social media ads — is making money and growing in an environment that's increasingly risky for purely digital retailers. Since its U.S. launch in 2018, Oddity has achieved profitability, the company said, making $380 million in gross sales in 2022. In Spoiled Child's first year on the market, the new brand brought in $48 million in gross sales. Oddity builds out new products and brands by using its tech to figure out what customers are looking for. Oddity is in the process of integrating the tech into its Il Makiage powermatch quiz to improve accuracy.

Feb 8 (Reuters) - Shares of solar-tracking business Nextracker Inc soared 26% in their U.S. market debut on Thursday, suggesting that the IPO market was showing signs of emerging from a prolonged freeze. "It's yet another sign that the 2023 IPO market is thawing. So it's a breath of fresh air," said Matthew Kennedy, senior IPO market strategist at Renaissance Capital. Nextracker raised $638 million from 26.6 million shares in its IPO on Wednesday, higher than its original plan of $534.9 million. Founded in 2013 by Chief Executive Officer Dan Shugar, Nextracker provides solar tracker and software solutions for solar power plants.

☆ A stock trader who returned 440% in 2022 explains the software program he built to automatically buy and sell risky penny stocks for optimal profits
▼ + stars: | 2023-02-04 | by ( Laila Maidan | ) www.businessinsider.com time to read: +9 min

He fed the computer 20 years worth of stock data to determine the relationship between data points. And I certainly would not suggest to people that you can just easily make 440% in the stock market. The program trades stocks ranging from pennies priced under $1 a share to large-caps and makes about 20 to 50 trades a day. About 20 minutes later, the market price rose and hit the sell order price of $0.3449 and the position closed. About 17 minutes later, the market price declined and hit the buy order price, and the position closed.

☆ Analysis: Russia may hike taxes as military spending, oil price weigh on budget
▼ + stars: | 2023-01-13 | by ( Darya Korsunskaya | ) www.reuters.com time to read: +5 min

"The growing dependence of the budget on oil raises concerns," Alfa Bank said in a note that warned a decline in revenue from gas and oil product exports "looms on the horizon." Analysts say that as the government increased spending by more than a quarter in 2022, in part to finance its military in Ukraine, the oil price required to balance the budget jumped from $67 to $101 a barrel. "When there is a big gap between the actual price (of oil) and the balancing price, it cannot be sustainably covered by borrowing," said Natalia Orlova, chief economist at Alfa Bank. VAT rates, profit taxes and income tax would not be changed, Sazanov said, but other industries may face a higher tax bill. The measures are expected to net an additional 3.6 trillion roubles for the Russian budget over three years.

☆ Egypt's pound keeps falling on black market ahead of IMF meeting
▼ + stars: | 2022-12-09 | by ( Patrick Werr | ) www.reuters.com time to read: +3 min

Deputy Finance Minister Ahmed Kouchouk said on Wednesday he expected the IMF board to approve the package at the meeting. In a statement issued by the cabinet on Friday, Kouchouk reiterated that the agreement with the IMF aimed to achieve a flexible exchange rate. Dealers on the black market were selling dollars for 32 to 33 pounds compared to the official rate of about 24.6 to the dollar. "However we do not expect a devaluation to the 32-34 handle as now implied by the London listings or the black market." Since early November, the central bank has been allowing the official rate to weaken incrementally by an average of about 0.01 pounds per day.

"The Egyptian pound will likely remain under pressure until more U.S. dollar inflows from GCC (Gulf nations) and committed foreign direct investment materialises," said Carla Slim at Standard Chartered Bank. Last month's IMF deal has provided some respite. ,"Egypt has got a high debt load and arguably it is more vulnerable even than Pakistan in terms of debt payments as a share of revenues," said Renaissance Capital's chief economist Charlie Robertson. "But the difference is, it has been proactive and been quick to go to the IMF," Robertson added, noting Egypt also has strong support from rich Gulf countries. Egypt's IMF negotiations dragged on for seven months and drove its second big devaluation of the year.

☆ Premarket Stocks: Wall Street's recent love affair with the Fed could turn on a dime
▼ + stars: | 2022-11-02 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

New York CNN Business —Fed decision day is here — and so is some potential bad news for the market. Part of that was thanks to solid corporate earnings: Companies from GM to Coca-Cola reported strong profits and sales for the third quarter. We’ve been here before: This isn’t the first time investors rushed into markets on the belief that there would be a Fed pivot. Investors are seemingly addicted to the highs and lows of any perceived shifts in the Fed’s thinking, leaving markets excessively volatile. What’s more, only 66 companies have gone public so far this year, down more than 80% from a year ago.

☆ IPO market has unraveled this year
▼ + stars: | 2022-11-01 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +4 min

But there’s another beast, albeit a mythical one, that has been pretty much absent from the stock market all year: Unicorns. According to data from IPO research firm Renaissance Capital, that was the slowest October for the IPO market since 2011. Many hope to do so instead in 2023 if the broader market improves. With that in mind, other unicorns could go public in 2023 if the IPO window opens up again. Crypto king FTX, sports merchandise leader Fanatics, Fortnite owner Epic Games and mobile bank app Chime are among the top 2023 IPO candidates, according to Wall Street analysts.

☆ 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.

☆ Investment has been pouring into technology in the agriculture space. How to play it
▼ + stars: | 2022-10-24 | by ( Carmen Reinicke | ) www.cnbc.com time to read: +9 min

Even before the coronavirus pandemic hit in 2020, the agriculture industry was dealing with a number of headwinds, from hurricanes and poor planning disrupting crop growth cycles to the impact of retaliatory tariffs slashing exports. These issues have highlighted an immense need for investment in agriculture and specifically technology to improve the efficiency of the industry. Last year, Deere also purchased Bear Flag Robotics, a Silicon Valley agriculture technology startup that develops autonomous farm equipment, for $250 million. AGCO , an agricultural machinery manufacturer, has also made several investments or acquisitions in the last few years in new technology in the space. The agriculture company in September bought Symborg, a Spanish microbiological technologies firm that makes biostimulants and biofertilizers for many kinds of crops and agriculture systems that boost results.

"The mobilisation declaration and the strengthening of geopolitical and sanctions risk are launching the second wave of the economic crisis," said Evgeny Suvorov, an economist at CentroCreditBank, expecting Russia's economic contraction to worsen in the final months of the year. But there was no acknowledgement of any link to his sudden partial mobilisation announcement on Sept. 21. The central bank on Tuesday said economic activity in Russia slowed significantly at the end of September. "The main consequence of mobilisation is the loss of human capital," said veteran economist Natalya Zubarevich. "It was possible to count exclusively on human capital to pull the economy through, but now a part of this human capital of productive age is subject to mobilisation and another part is leaving," Polevoy said.

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