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Search resuls for: "Corrie"


6 mentions found


☆ Stocks Notch Second Day of Gains
  + stars: | 2022-10-18 | by ( Will Horner | Corrie Driebusch | ) www.wsj.com   time to read: 1 min
U.S. stock indexes rose on Tuesday, rallying for a second day as a combination of better-than-expected earnings and an easing of turmoil in U.K. markets lifted investors’ confidence. The S&P 500 climbed 42.03 points, or 1.1%, to 3719.98 while the Dow Jones Industrial Average rose 337.98 points, or 1.1%, to 30523.80 and the technology-heavy Nasdaq Composite moved ahead 96.60 points, or 0.9%, to 10772.40. The moves come a day after the major indexes soared.
☆ Intel Eyes Significantly Lower Valuation in IPO of Mobileye Unit
  + stars: | 2022-10-17 | by ( Corrie Driebusch | ) www.wsj.com   time to read: 1 min
Intel is eyeing a significantly lower valuation than previously expected in the initial public offering of its Mobileye Global Inc. self-driving car unit, according to people familiar with the matter, in the latest sign of the beleaguered state of the new-issue market. 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, the people said. By selling fewer shares at a lower price, the company and its advisers are hoping to drum up interest that will push up the shares after they start trading, some of the people said.
☆ Poor IPO-Stock Performance Weighs Further on New-Issue Market
  + stars: | 2022-09-26 | by ( Corrie Driebusch | ) www.wsj.com   time to read: 1 min
A volatile stock market is one of the reasons IPOs are having the slowest year in more than a decade. Recently public companies are among the worst performers in this year’s stock-market rout, contributing to a deep freeze in the IPO market that shows few signs of thawing. Roughly 87% of companies that went public in the U.S. last year are trading below their offering prices, down more than 49% on average as of Friday’s close, according to Dealogic. By rough comparison, the S&P 500 is down 23% this year, while the tech-heavy Nasdaq Composite has fallen 31%.
☆ Swiftly Valued at More Than $1 Billion in Latest Funding Round
  + stars: | 2022-09-19 | by ( Corrie Driebusch | ) www.wsj.com   time to read: 1 min
Swiftly Systems Inc. raised $100 million in its latest funding round, boosting the valuation of the grocery-tech company to more than $1 billion, according to people familiar with the matter. The capital infusion, from BRV Capital Management and others, is the second funding round this year for Swiftly and values it at $1.1 billion to $1.2 billion, one of the people said. In March, Swiftly said it raised $100 million in a Series B funding round led by Wormhole Capital.
☆ Instacart Plans to Focus IPO on Selling Employee Shares
  + stars: | 2022-09-19 | by ( Berber Jin | Corrie Driebusch | ) www.wsj.com   time to read: 1 min
Instacart Inc. doesn’t plan to raise much capital in its initial public offering and instead plans to have most of the listing come from the sale of employees’ shares, said people familiar with its thinking. In meetings with prospective investors in recent weeks, Instacart executives said they didn’t plan to issue many new shares in their IPO, the people said. The sale of mostly employee shares would allow Instacart’s staff, including some of its earliest hires, to at last cash out of some of the shares they have been accumulating.
☆ U.S. Stocks Close Lower After FedEx Warning
  + stars: | 2022-09-16 | by ( Corrie Driebusch | Caitlin Ostroff | ) www.wsj.com   time to read: 1 min
U.S. stocks closed lower Friday as investors came to grips with corporate warnings that paint an increasingly dire outlook for the health of the U.S. economy. In the past week, companies including Goldman Sachs Group Inc. prepared to cut jobs, exacerbating fears of an impending recession. FedEx cautioned late Thursday that it is closing offices to offset declining demand, and General Electric said supply-chain problems were weighing on profits.
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