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☆ Tesla third-quarter deliveries will likely miss consensus expectations, Barclays predicts
▼ + stars: | 2023-09-25 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Barclays thinks electric vehicle maker Tesla 's third-quarter production and delivery numbers will be under pressure before recovering in the final three months of 2023. "While 3Q TSLA deliveries will likely be modest relative to recent results, we suspect that they will be sufficient to draw down inventory amid what appears to be an even sharper slowing of production," analyst Dan Levy wrote in a Friday note. Barclays expects Tesla deliveries for the third quarter to come at 455,000 units, falling short of consensus expectations of 463,000 units and Barclays' previous estimate of 483,000, according to the note. Levy called these numbers a "clear step back" from 480,000 deliveries in the second quarter and in-line output of 441,000 deliveries in the first quarter. TSLA YTD mountain Tesla stock.

Persons: Tesla, Dan Levy, Levy Organizations: Barclays, Tesla Locations: China, Europe, Shanghai, U.S

Here are the meanings of the 10 hardest words that have also been used in Times articles. (Dec. 23, 2020)6. tomtit — any of several small birds that frequently elude Spelling Bee players:The Audubon Society would file a complaint in defense of tomtit virility. But, such is the state of Massenet’s reputation, I doubt that many sophisticated operagoers would rush to defend him. Barclays declined to comment on its arrangement with A.I.G., which is known as a “novation” in the world of derivatives, Reuters said. in Derivatives Deals (Feb. 5, 2010)The list of the week’s easiest words:

Persons: nunhood, “, Genji, Jakucho, monomania, ” Jacobs, ”, colcannon —, Patrick’s, Melissa Clark’s, colcannon, Cook, callaloo, Mr, Bates, cloaca, tomtit, Spelling, Massenet — Minor, pinniped, dognap —, Twilly, McGuinn, Naija, dey, —, novation, — Barclays Said Organizations: St, Audubon Society, Barclays, Reuters, — Barclays Locations: Japan, Frederick, Africa

Sept 22 (Reuters) - Deutsche Bank AG (DBKGn.DE) has hired Ainslee Withey, a Barclays (BARC.L) technology banker, as a managing director in its technology investment banking group for internet dealmaking, according to people familiar with the matter. Withey, who spent 15 years at Barclays and focused on internet investment banking, will be based in San Francisco and report to Deutsche's co-head of technology, media and telecoms (TMT) investment banking, Ajay Shah, the sources said, adding that she will start her new role in December. Deutsche declined to comment, while Barclays did not immediately respond to requests for comment. Withey started her investment banking career at Lehman Brothers in 2005 and joined Barclays three years later. In July, Deutsche hired 50 senior bankers in the origination and advisory business of its global investment bank.

Persons: Ainslee Withey, Deutsche's, Ajay Shah, Withey, Milana Vinn, Matthew Lewis Organizations: Deutsche Bank AG, Barclays, Deutsche, Lehman Brothers, Thomson Locations: San Francisco, Americas, New York

☆ UAW strike can last into November: Barclays' Dan Levy
▼ + stars: | 2023-09-22 | 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 EmailUAW strike can last into November: Barclays' Dan LevyDan Levy, senior autos analyst at Barclays, joins 'The Exchange' to discuss why he believes the ongoing UAW strike could go longer, how the strike would impact the auto stocks, and more.

Persons: Dan Levy Dan Levy Organizations: UAW, Barclays

☆ How Asake developed a boundary-pushing sound that’s changing Afrobeats as we know it
▼ + stars: | 2023-09-22 | by ( Lauren Lee | ) edition.cnn.com time to read: +5 min

CNN —Nigerian singer and songwriter Asake is creating a new Afrobeats sound that is deeply African and completely global. But to me, I think I do a lot of things because, you know, I love to come with the vibe. It’s just like a bit of Amapiano, a bit of Afrobeat, a bit of Fuji, a bit of R&B, a bit of hip hop, just to make Asake. I think I’m going to be somebody who puts on a show’? I don’t know how I’m going to do it, but the most important thing for me is to keep going.

Persons: Asake, Mr, “ Mr, Larry Madowo, I’m, Fela, Kuti, ‘, Paras Griffin, I’m Ahmed Ololade, Olamide, what’s Organizations: CNN, YBNL, Vibe, Barclays Center, Fuji Locations: Nigerian, Lagos, Port Harcourt, Nigeria, New York, Miami, Dubai, London, Africa, Atlanta , Georgia

People enter a building before the annual shareholder meeting of Germany’s largest business bank, Deutsche Bank, in Frankfurt, Germany, May 23, 2019. REUTERS/Kai Pfaffenbach/File Photo Acquire Licensing RightsSept 22 (Reuters) - Deutsche Bank AG (DBKGn.DE) has hired Ainslee Withey, a Barclays (BARC.L) technology banker, as a managing director in its technology investment banking group for internet dealmaking, according to people familiar with the matter. Withey, who spent 15 years at Barclays and focused on internet investment banking, will be based in San Francisco and report to Deutsche's co-head of technology, media and telecoms (TMT) investment banking, Ajay Shah, the sources said, adding that she will start her new role in December. Withey started her investment banking career at Lehman Brothers in 2005 and joined Barclays three years later. In July, Deutsche hired 50 senior bankers in the origination and advisory business of its global investment bank.

Persons: Kai Pfaffenbach, Ainslee Withey, Deutsche's, Ajay Shah, Withey, Milana Vinn, Matthew Lewis Organizations: Deutsche Bank, REUTERS, Deutsche Bank AG, Barclays, Deutsche, Lehman Brothers, Thomson Locations: Frankfurt, Germany, San Francisco, Americas, New York

☆ Jim Cramer says Tesla will have a 'substantial rally' if it can prove Wall Street wrong
▼ + stars: | 2023-09-22 | by ( Morgan Chittum | ) www.cnbc.com time to read: +1 min

Shares of Tesla (TSLA) edged lower Friday after Barclays forecasted the mega-cap name would miss on delivery results. Wall Street analysts expect Tesla to report third-quarter deliveries of 455,000 units, missing the consensus forecast of 463,000 units. If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free. CNBC's Jim Cramer said Friday on "Squawk on the Street" that if Tesla can outperform the downbeat Barclays outlook then shares will likely go higher. "If Tesla is able to turn, then I believe we could have a substantial rally because this is a very negative piece," the "Mad Money" host said.

Persons: Tesla, Jim Cramer's, CNBC's Jim Cramer Organizations: Tesla, Barclays, Wall Street, CNBC

☆ Goldman Sachs pushes its forecast for Fed rate cut to Q4 2024
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +1 min

"Today, participants appeared to move away from the view that monetary policy tightening could weigh on growth with a long lag next year, which weakens one argument for cutting," Goldman Sachs economists led by Jan Hatzius said in a note. "We think this means that inflation will have to fall further than we previously assumed for the FOMC to cut." Morgan Stanley, meanwhile, still expects the first rate cut to be delivered in March next year. The central bank's quarterly projections showed the rate may still be lifted one more time this year to a peak 5.50%-5.75% range. While Goldman and Morgan Stanley do not expect another rate hike this year, Barclays, BofA and Citigroup see the Fed delivering another 25 basis points raise in the November meeting.

Persons: Jason Reed, Goldman Sachs, Jan Hatzius, Morgan Stanley, Goldman, Susan Mathew, Nivedita Organizations: U.S . Federal, REUTERS, U.S . Federal Reserve, Fed, Wednesday, Barclays, BofA, Citigroup, Thomson Locations: Washington, Bengaluru

☆ A portfolio manager explains why the first quarter of 2024 is the perfect storm for a stock-market pullback — and shares the 3 funds he's buying to take advantage of this year's bull rally
▼ + stars: | 2023-09-21 | by ( Laila Maidan | ) www.businessinsider.com time to read: +4 min

Goldman Sachs expects rates to hold steady again as inflation trends down and the labor market remains strong. But Raymond Bridges, the portfolio manager of the Bridges Capital ETF, an actively managed equity long-only fund, believes the overall macro outlook is still bearish. But regional banks continue to access this program every week, Bridges said. But just because he's bearish on the macro outlook doesn't mean he's not going to take advantage of short-term opportunities. His ETF, launched on May 11, is a mix of US equity-index ETFs, large-cap stocks, and cash or cash equivalents.

Persons: Goldman Sachs, Raymond Bridges, Bridges, Joseph Abate, Jerome Powell, he's bearish, Russell Organizations: Fed, Bridges Capital ETF, Barclays, Reuters, Regional Banking, Trust, BPI

☆ Higher rates are better for regional banking sector, says Atlas Merchant CEO Bob Diamond
▼ + stars: | 2023-09-21 | 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 EmailHigher rates are better for regional banking sector, says Atlas Merchant CEO Bob DiamondBob Diamond, Atlas Merchant Capital CEO, Former Barclays CEO, joins 'Closing Bell Overtime' to talk this week's FOMC decision, what's next for the central bank, the state of the economy and more.

Persons: Bob Diamond Bob Diamond, what's Organizations: Atlas, Atlas Merchant Capital, Barclays

[1/2] A sign for the Royal Bank of Canada in Toronto, Ontario, Canada December 13, 2021. REUTERS/Carlos Osorio Acquire Licensing RightsNEW YORK, Sept 21 (Reuters) - A U.S. federal judge on Thursday said American cities may pursue class-action claims accusing eight large banks of driving up interest rates they paid on a popular municipal bond. Cities led by Baltimore, Philadelphia and San Diego accused the banks of colluding to raise rates on more than 12,000 variable-rate demand obligations (VRDOs) from 2008 to 2016. Cities accused the eight banks of conspiring not to compete for remarketing services, and artificially inflating rates by sharing information about bond inventories and planned rate changes. The case is Philadelphia et al v Bank of America Corp et al, U.S. District Court, Southern District of New York, No.

Persons: Carlos Osorio, Jesse Furman, Goldman Sachs, JPMorgan Chase, Morgan Stanley, Wells, San Diego, Banks, Furman, Dan Brockett, Jonathan Stempel, Marguerita Choy Organizations: Royal Bank of Canada, REUTERS, U.S, Bank of America, Barclays, Citigroup, JPMorgan, Municipal Securities Rulemaking Board, al, Bank of America Corp, Court, Southern District of, Thomson Locations: Toronto , Ontario, Canada, Manhattan, Baltimore, Philadelphia, San, colluding, U.S, Southern District, Southern District of New York, New York

The European Central Bank last week lifted rates to a record 4% and upgraded its inflation forecast for 2024, but the euro fell and has lost almost 2% against the dollar this month. Overall, Europe's central banks "would like to portray this idea of higher for longer (rates)," said Ed Hutchings, head of rates at Aviva Investors. The currency, which the central bank labeled "unjustifiably weak," barely caught a break and remains near a record low against the euro . He expected one the of big European central banks to be the first to cut rates. European central banks were "in a bind," Fiotakis added, as higher oil prices also threatened to push inflation higher.

Persons: Dado Ruvic, Sterling, Kit Juckes, BoE, SocGen's Juckes, Ed Hutchings, Nathan Thooft, Bjoern, Fiotakis, Orla Garvey, Naomi Rovnick, Christina Fincher Organizations: REUTERS, Sterling, LONDON, Bank of, Swiss, greenback, Societe Generale, European Central Bank, ECB, U.S . Federal Reserve, Fed, Aviva Investors, Investment Management, Reuters, DWS Group, Nomura, ING, Barclays, Federated, Thomson Locations: Swiss, Bank of England, Switzerland, Sweden, Europe, U.S, Western Europe, United States, Britain, Swedish, Japan, European

☆ Total’s green bet on Gautam Adani is a win-win
▼ + stars: | 2023-09-21 | by ( Pranav Kiran | ) www.reuters.com time to read: +4 min

On Tuesday, the company said it would invest $300 million to form a joint venture with $19 billion Adani Green Energy (ADNA.NS) to build solar and wind farms in the country. The latest tie-up ought to help Total to hit its target of having 100 gigawatts of renewable energy capacity by 2030. Adani Green Energy and Adani Total Gas (ADAG.NS), in which Total owned stakes of about 20% and 37% at the end of June, have lost about 50% and 80% of their market value since January, and are among the worst performing of the group’s nine core listed entities. Total’s green capacity targets may be more pressing than the risk of further Adani problems. Adani Green will contribute assets to the joint venture, it said in a statement, adding that the deal will help it achieve its target of having 45 gigawatts of renewable energy capacity by 2030.

Persons: Gautam Adani, Carmichael, Hindenburg, Patrick Pouyanné, Adani, Una Galani, Katrina Hamlin Organizations: Reuters, Adani Enterprises, Adani, Green Energy, Australia, GQG, Barclays, Deutsche Bank, Energy, Thomson Locations: Indian, Ahmedabad, Queensland, BENGALURU, –, India

☆ Here are the 15 stocks Jim Cramer is watching, including 3 recent IPOs and Starbucks
▼ + stars: | 2023-09-21 | by ( Jim Cramer | ) www.cnbc.com time to read: +1 min

Here are some of the tickers on my radar for Thursday, Sept. 21, taken directly from my reporter's notebook:Club name StarbucksStifel raised price target on Jabil AppleUpdate on three big recent IPOs: Klaviyo Instacart Arm Holdings (ARM) debuted up nearly 25% last week; then went on a five-session losing streak, falling below $51 offering price early Thursday. Arm Holdings (ARM) debuted up nearly 25% last week; then went on a five-session losing streak, falling below $51 offering price early Thursday. International PaperKB HomesIf you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free. Morgan Stanley cuts price target on General MillsBank of America cuts Enphase EnergyMarriottSusquehanna says CarnivalCiti raises price target on SLBCiti research analysts cut their price target on Goldman SachsBarclays raises CSX

Persons: Jim Cramer's, Morgan Stanley, Goldman Sachs Organizations: Starbucks, Holdings, Arm Holdings, General Mills Bank of America, Energy, Susquehanna, Citi, Goldman, Goldman Sachs Barclays, CSX

☆ Barclays says this women's health pharma company could rally 48%
▼ + stars: | 2023-09-21 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Organon is an undervalued global play and leader in women's specialty health, according to Barclays. The company, with a portfolio of about 60 treatments and products focused on women's health, was spun off from Merck in 2021 . Barclays analyst Balaji Prasad initiated coverage on Organon with an overweight rating. The company could also generate more than $1 billion in annual free cash flow during that span, he added. Organon's prescription birth control Nexplanon is the key driver to its women's health portfolio as the Nexplanon "pipeline continues to progress toward commercialization," he added.

Persons: Balaji Prasad, Prasad, Nexplanon, — CNBC's Michael Bloom Organizations: Barclays, Merck, Health Locations: Wednesday's

People gather ahead of the "Festival of Fantasy" parade at the Walt Disney World Magic Kingdom theme park in Orlando, Florida, U.S. July 30, 2022. REUTERS/Octavio Jones Acquire Licensing RightsSept 20 (Reuters) - Walt Disney's (DIS.N) $60 billion spending plan on parks and cruises to stay ahead of growing competition has worried some Wall Street analysts with its long road to payoff. "Expanding parks and cruises tends to be a multi year undertaking as a result of which, revenue and margin acceleration lags the investment cycle," Barclays analysts said. The bump in parks spending also follows a quiet period for the business during the pandemic in 2020 and 2021, when the spread of COVID-19 forced park closures and hit attendance. That led Needham analysts to warn Disney could be basing its decision on "unsustainable and elevated profit margins."

Persons: Octavio Jones, Walt Disney's, Needham, Samrhitha Arunasalam, Aditya Soni, Anil D'Silva Organizations: Walt Disney, REUTERS, Wall Street, Walt Disney World, Netflix, Barclays, Analysts, ABC, Comcast, Disney, Nintendo, Thomson Locations: Orlando , Florida, U.S, Hulu, COVID, California, Florida, Bengaluru

☆ High oil prices don't make Europe energy stocks attractive to all
▼ + stars: | 2023-09-20 | by ( Lucy Raitano | ) www.reuters.com time to read: +4 min

The STOXX 600 European oil and gas index (.SXEP) is at its highest since mid-February, having gained around 13.5% in the past two months. In the same period, benchmark Brent crude has risen 18% and European natural gas prices have gained 50%. He said higher oil prices could prompt upgrades to earnings estimates, and potentially dividends too. "The whole energy sector should benefit, but the downstream sector is looking very cheap and offers a high dividend which is attractive given higher interest rates," said Cau. Bank of America strategists have an underweight rating on European energy stocks.

Persons: Heinz, Peter Bader, Brent, Mislav Matejka, Morgan Stanley, Emmanuel Cau, Andreas Bruckner, Lucy Raitano, Amanda Cooper, Miral Organizations: REUTERS, Brent, Reuters, JPMorgan, Barclays, Bank of America, Thomson Locations: Zistersdorf, Austria, Saudi Arabia, Russia, China

☆ Exclusive: U.S. FDA found lapses at Novo's main U.S. factory in May 2022 -report
▼ + stars: | 2023-09-20 | by ( Maggie Fick | ) www.reuters.com time to read: +4 min

Signage is seen outside of the Food and Drug Administration (FDA) headquarters in White Oak, Maryland, U.S., August 29, 2020. A Form 483 is a type of agency report containing "observations" that FDA inspectors "deem to be objectionable". The FDA did not immediately respond to a request for comment on the report, but usually does not comment on inspections. The report from the May 2022 inspection shows that FDA officials found the factory had failed to include one type of bacteria, abbreviated as B. cepacia, on its list of "objectionable organisms". Analysts at Barclays and Jefferies said in notes this week that, although investors may be concerned by news of potential manufacturing issues, they saw minimal impact on Novo's production of semaglutide.

Persons: Andrew Kelly, Clayton, Jefferies, Steven Lynn, Maggie Fick, Josephine Mason, Mark Potter Organizations: Food and Drug Administration, FDA, REUTERS, Novo Nordisk, Reuters, U.S . Food, Drug Administration, Barclays, Manufacturing, Thomson Locations: White Oak , Maryland, U.S, North America, Clayton , North Carolina

☆ Channel checks in China suggest iPhone orders will be disappointing, Barclays says
▼ + stars: | 2023-09-19 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Investors and Wall Street seem to be taking recent lead times and preorder data as an encouraging sign for iPhone demand this cycle. The latest channel checks in China suggest a potentially difficult cycle ahead, showing overall unit orders 5% lower year over year, and a 4% lower mix of Pro units, wrote analyst Tim Long in a Monday note. The sentiment counters recent bullish reports and encouraging signs that the latest lead times and preorder data may suggest resilient consumer demand. Long said he's taking delivery times data with a "grain of salt." Channel checks for actual orders in China are a stronger indicator of demand versus delivery times affected by production shortages and supply issues, he said.

Persons: Tim Long, Morgan Stanley, Long, — CNBC's Michael Bloom Organizations: Barclays, Apple Locations: China

MILAN/PARIS, Sept 19 (Reuters) - Gucci creative director Sabato De Sarno takes to the runway in Milan on Friday, in a high-stakes designer debut for the Italian label’s owner, French luxury group Kering (PRTP.PA). De Sarno’s Gucci catwalk presentation – one of the industry’s most highly-anticipated shows this year – will serve as an aesthetic reset for the brand, aimed at reigniting sales, but it is also the first major test of a sweeping overhaul at Kering. The group has also taken steps to broaden its revenue sources, announcing plans to buy high end perfumer Creed in June and a 30% stake in fashion label Valentino in July. “We don’t think that a margin reset would be badly received by the market,” said Carole Madjo, analyst with Barclays. Reporting by Mimosa Spencer and Elisa Anzolin Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

Persons: Gucci, Sabato De Sarno, De Sarno’s Gucci, Valentino, Louis, Jean, Francois Palus, Marco Bizzarri, De Sarno’s, Bizzarri, Alessandro Michele, De Sarno's, Sabato De Sarno's, ”, Carole Madjo, Daria Werbowy, Luca Solca, Bernstein, Mimosa Spencer, Elisa Anzolin, Tomasz Janowski Organizations: MILAN, Louis Vuitton, Dior . Group, Gucci, RBC, Barclays, De, Thomson Locations: PARIS, Milan, Kering

NEW YORK, Sept 19 (Reuters) - Marketing automation company Klaviyo Inc (KVYO.N) secured a valuation of $9.2 billion in its initial public offering (IPO) on Tuesday, the company said, after pricing the share sale above its indicated range. Klaviyo said it priced 19.2 million shares at $30 apiece. It had raised its indicated IPO price range from $25-$27 per share to $27-$29 per share on Monday. Reuters was first to report that Klaviyo was considering pricing the IPO above its targeted range at $30 per share. Bloomberg News first reported about the IPO being priced at $30.

Persons: Klaviyo, Andrew Bialecki, Ed Hallen, ”, Goldman Sachs, Morgan Stanley, William Blair, Echo Wang, Anirban Sen, Dimpal, Timothy Gardner, Miral Organizations: Klaviyo Inc, Reuters, Bloomberg News, BlackRock Inc, SoftBank, Nasdaq, New York Stock Exchange, Citigroup Inc, Barclays Plc, Mizuho Financial Group, underwriters, Thomson Locations: U.S, New York, Bengaluru

☆ Jann Wenner’s Rock Hall Reign Lasted Years. It Ended in 20 Minutes.
▼ + stars: | 2023-09-19 | by ( Ben Sisario | More About Ben Sisario | ) www.nytimes.com time to read: +2 min

Maybe I’m old-fashioned and I don’t give a [expletive] or whatever.”Those comments drew immediate fire on social media. (The foundation, created in 1983, chooses the artists who are inducted, and is affiliated with the museum in Cleveland.) Interviews with four people with direct knowledge of the board vote, who spoke anonymously because the panel’s deliberations are confidential, paint a picture of urgency and rage inside the institution. While board members felt personally appalled by Wenner’s comments, they were also worried about the impact on the hall itself, and its vital relationships with artists — some of whom were already beginning to complain. This year’s honorees include Kate Bush, Missy Elliott, Willie Nelson, Sheryl Crow, Rage Against the Machine, the Spinners and George Michael, who died in 2016.

Persons: Pharrell Williams, LL, ” Troy Carter, Prince, Wenner, Wenner’s, —, missive, Bernie Taupin, Elton John’s, Heather Taupin, Kate Bush, Missy Elliott, Willie Nelson, Sheryl Crow, George Michael Organizations: Roll Hall of Fame Foundation, Spotify, The Times, Barclays Center, Machine, Spinners Locations: Cleveland, Brooklyn

Torrent is hoping to secure roughly $3 billion to $4 billion in financing for the bid for its much bigger rival, they said. Blackstone (BX.N) is also interested in bidding for Cipla, sources have also said. Apollo is "quite bullish on their Asia strategy, and India in particular...both Cipla and Torrent have strong balance sheets," the person said. Apollo and Torrent, which has yet to confirm its interest in Cipla, did not immediately respond to a request for comment. Foreign banks, including Morgan Stanley (MS.N) and Barclays (BARC.L), are also in talks with Torrent to extend loans and arrange financing for the deal, sources have said.

Persons: Danish Siddiqui, Bernstein, Blackstone, Morgan Stanley, Abbott, Sriram, Aditya Kalra, Edwina Gibbs Organizations: REUTERS, Danish, pharma, Pharmaceutical, Apollo Global Management, Capital Partners, Bain Capital, Blackstone, Mumbai International, JSW, Barclays, Pfizer, Thomson Locations: Cipla, Mumbai, India, MUMBAI, DELHI, Asia

☆ Klaviyo valued at $9.2 billion after pricing IPO above range: Reuters
▼ + stars: | 2023-09-19 | by ( ) www.cnbc.com time to read: +1 min

Andrew Bialecki, CEO and co-founder of Klaviyo, poses for a portrait in Boston on Sep. 5, 2019. Marketing automation company Klaviyo Inc secured a valuation of $9.2 billion in its initial public offering (IPO) on Tuesday, after pricing the share sale above its indicated range, according to people familiar with the matter. Klaviyo priced 19.2 million shares at $30 apiece, the sources told Reuters, requesting anonymity as the discussions are confidential. The company revised its indicated IPO price range from $25-$27 per share to $27-$29 per share on Monday, according to Reuters. Reuters was first to report earlier on Tuesday that Klaviyo was considering pricing the IPO above its targeted range at $30 per share.

Persons: Andrew Bialecki, Klaviyo, Ed Hallen, Goldman Sachs, Morgan Stanley, William Blair Organizations: Klaviyo Inc, Reuters, Bloomberg News, BlackRock Inc, SoftBank Group, Nasdaq, New York Stock Exchange, Citigroup Inc, Barclays Plc, Mizuho Financial Group, underwriters Locations: Boston, U.S

NEW YORK, Sept 19 (Reuters) - Marketing automation company Klaviyo Inc (KVYO.N) secured a valuation of $9.2 billion in its initial public offering (IPO) on Tuesday, after pricing the share sale above its indicated range, according to people familiar with the matter. Klaviyo priced 19.2 million shares at $30 apiece, the sources said, requesting anonymity as the discussions are confidential. The company revised its indicated IPO price range from $25-$27 per share to $27-$29 per share on Monday. Reuters was first to report earlier on Tuesday that Klaviyo was considering pricing the IPO above its targeted range at $30 per share. Bloomberg News first reported about the IPO being priced at $30.

Persons: Klaviyo, Andrew Bialecki, Ed Hallen, ”, Goldman Sachs, Morgan Stanley, William Blair, Echo Wang, Anirban Sen, Timothy Gardner Organizations: Klaviyo Inc, Reuters, Bloomberg News, BlackRock Inc, Nasdaq, New York Stock Exchange, Citigroup Inc, Barclays Plc, Mizuho Financial Group, underwriters, Thomson Locations: U.S, New York

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