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☆ Nasdaq's Nelson Griggs talks the IPO market outlook
▼ + stars: | 2023-09-06 | 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 EmailNasdaq's Nelson Griggs talks the IPO market outlookNelson Griggs, Nasdaq President of Capital Access Platforms, joins 'Fast Money' to talk the outlook for public listings.

Persons: Nasdaq's Nelson Griggs, Nelson Griggs Organizations: Nasdaq

The Nasdaq logo is displayed at the Nasdaq Market site in Times Square in New York City, U.S., December 3, 2021. Nasdaq's current CFO Ann Dennison is expected to step down from her role, the sources said, requesting anonymity as the matter is confidential. Youngwood, who has joint French-U.S. citizenship, was named group CFO at UBS in December 2021 and started in the role in May 2022. Dennison joined Nasdaq in 2015 as chief accounting officer and was elevated to CFO in March 2021. Prior to joining Nasdaq, Dennison served as head of financial reporting at Goldman Sachs Group (GS.N).

Persons: Sarah Youngwood, Ann Dennison, Youngwood, Dennison, Adena Friedman, Tal Cohen, Nelson Griggs, David French, Anirban Sen, Lisa Shumaker Organizations: Nasdaq, REUTERS, Nasdaq Inc, UBS Group AG, UBS, Credit Suisse, JPMorgan Chase &, Consumer & Community, JPMorgan, Goldman Sachs, Thomson Locations: New York City, U.S, Youngwood, Swiss, New York

☆ Exclusive: Nasdaq prepares to name Sarah Youngwood as new CFO-sources
▼ + stars: | 2023-08-29 | by ( David French | ) www.reuters.com time to read: 1 min

NEW YORK, Aug 29 (Reuters) - Exchange operator Nasdaq Inc (NDAQ.O) is preparing to name former UBS Group AG (UBSG.S) executive Sarah Youngwood as its new chief financial officer, people familiar with the matter said on Tuesday. Nasdaq's current CFO Ann Dennison is expected to step down from her role, the sources said. Nasdaq did not immediately respond to requests for comment. Youngwood and Denison were not immediately available for comment. Reporting by David French in New York; Editing by Anirban SenOur Standards: The Thomson Reuters Trust Principles.

Persons: Sarah Youngwood, Ann Dennison, Youngwood, Denison, David French, Anirban Sen Organizations: Nasdaq Inc, UBS Group AG, Nasdaq, Thomson Locations: New York

The Nasdaq logo is displayed at the Nasdaq Market site in Times Square in New York City, U.S., December 3, 2021. Nasdaq's current CFO Ann Dennison is expected to step down from her role, the sources said, requesting anonymity as the matter is confidential. Youngwood, who has joint French-U.S. citizenship, was named group CFO at UBS in December 2021 and started in the role in May 2022. At JPMorgan, Youngwood held a variety of roles during her 25-year stint at the bank, according to her LinkedIn profile. Dennison joined Nasdaq in 2015 as chief accounting officer and was elevated to CFO in March 2021.

Persons: Sarah Youngwood, Ann Dennison, Youngwood, Dennison, Tal Cohen, Nelson Griggs, David French, Anirban Sen, Lisa Shumaker Organizations: Nasdaq, REUTERS, Nasdaq Inc, UBS Group AG, UBS, Credit Suisse, Swiss, JPMorgan Chase &, Consumer & Community, JPMorgan, Goldman Sachs, Thomson Locations: New York City, U.S, Swiss, New York

☆ CNBC Daily Open: Powell said high rates. Markets heard robust economy
▼ + stars: | 2023-08-28 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

David Paul Morris | Bloomberg | Getty ImagesThis 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. Despite the (ostensibly) hawkish tone of Powell's Jackson Hole speech, markets, it seemed, seized on a tangential point and made it the whole narrative. The beauty of Powell's words is that they are open to interpretation. The drawback of Powell's words is that they are open to interpretation.

Persons: Jerome Powell, David Paul Morris, Powell, Powell's Jackson Organizations: US Federal Reserve, Bloomberg, Getty, CNBC, Nasdaq, Dow Jones Industrial Locations: Moran , Wyoming

☆ CNBC Daily Open: Powell said high rates. Markets heard hot economy
▼ + stars: | 2023-08-28 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

Persons: Christine Lagarde, Kazuo Ueda, Jerome Powell, David Paul Morris, Powell, Powell's Jackson Organizations: HK, European Central Bank, ECB, Bank of Japan, US Federal Reserve, Bloomberg, Getty, CNBC, Nasdaq, Dow Jones Industrial Locations: Moran , Wyoming

☆ The CEO who brutally fired hundreds of the people on Zoom is taking his startup public in a move that could make or break him
▼ + stars: | 2023-08-24 | by ( Alex Nicoll | ) www.businessinsider.com time to read: +10 min

Vishal Garg is taking Better, a mortgage startup, public through a long-delayed SPAC deal. Read what he said about making strategic acquisitions and the millions in company loans that stand to be forgiven. But CEO Vishal Garg, known for brutally laying off hundreds of employees via Zoom, insists he has a plan. One former employee told Insider that the move seems like a "Hail Mary," both for Garg personally and for the business more broadly. Here is what Garg said about his vision for the company and how he will spend the money Better receives from the IPO.

Persons: Vishal Garg, Garg, SPACs, Mary, refinancings, it's, SoftBank, indemnifying, —, It'll Organizations: & Finance, Aurora Acquisition Corp, Nasdaq, World Trade Center, Federal Reserve, Silicon, Better, Mortgage, SEC, Scotsman, Aurora, Insider Locations: Garg, refinancings, Queens , NY

Office workers look at their mobile phones to check the local online banking app Toss as they gather at Seoul Museum of Art during a lunch break in Seoul, South Korea, April 13, 2023. Interest rate decisions and policy guidance from South Korea and Indonesia take center stage in Asia on Thursday, as investors also navigate the strong cross currents from global equity and bond markets the day before. On the Asian policy front, the Bank of Korea is expected to leave its key policy rate unchanged at 3.50% for a fifth consecutive meeting on Thursday and hold it steady for the rest of this year. Bank Indonesia is also expected to keep its key interest rate steady, at 5.75% for the seventh consecutive meeting and for the rest of the year too. Here are key developments that could provide more direction to markets on Thursday:- South Korea interest rate decision- Indonesia interest rate decision- South Korea producer price inflation (July)By Jamie McGeever; Editing by Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Kim Hong, Jamie McGeever, Josie Kao Organizations: Seoul Museum of Art, REUTERS, Wall, Nvidia, Shanghai CSI, Bank of England, European Central Bank, Bank of, Bank Indonesia, Thomson, Reuters Locations: Seoul, South Korea, Indonesia, Asia, Europe, China, Shanghai, Japan, Bank of Korea, Korea

☆ Jefferies upgrades this marketing stock with nearly 30% upside
▼ + stars: | 2023-08-22 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Jefferies thinks investors should buy into AppLovin . The firm upgraded AppLovin to buy from hold and hiked its price target to $50 per share from $20. Jefferies' price target implies roughly 28% upside from Monday's $39.01 close. "Investors should have more confidence in sustainable growth (despite a weak mobile market), continued share shift, optionality on adjacent markets, and reasonable valuation. "The key question facing AppLovin and the entire mobile games market is: have Apple and macro fundamentally broken mobile gaming?"

Persons: Jefferies, Andrew Uerkwitz, Uerkwitz, AppLovin, — CNBC's Michael Bloom

The headquarters of the European Energy Exchange (EEX), world's biggest online power trading platform is seen in a centre-of-town high-rise office building in Leipzig, Germany April 25, 2021. REUTERS/Annegret Hilse/File Photo Acquire Licensing RightsBRUSSELS, Aug 21 (Reuters) - Deutsche Boerse's (DB1Gn.DE) European Energy Exchange (EEX) has to seek EU antitrust approval for its acquisition of Nasdaq's (NDAQ.O) European power trading and clearing business because of its importance to Europe's energy market, EU antitrust regulators said on Monday. The Commission said the two companies are the only providers of services facilitating the on-exchange trading and subsequent clearing of Nordic power contracts. This is the third time that the EU antitrust watchdog has used its power under the so-called Article 22 whereby EU countries can request that it reviews deals which do not meet the merger criteria but can impact their markets. Reporting by Foo Yun Chee and Sudip Kar-Gupta; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Annegret, Foo Yun Chee, Sudip Kar, Kirsten Donovan Organizations: European Energy Exchange, REUTERS, Rights, Deutsche, Energy Exchange, European Commission, Nasdaq, Thomson Locations: Leipzig, Germany, Denmark, Finland, Sweden, Norway

☆ Top strategist Tom Lee says Nasdaq's 'QQQ' will beat the S&P rest of the year as inflation declines
▼ + stars: | 2023-08-16 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Abating inflation pressure will help the central bank focus on cutting interest rates while helping stocks, according to Fundstrat managing partner and head of research Tom Lee. The Nasdaq Composite has been on fire so far this year with a 38% gain, aided in large part by an explosion in growth of tech stocks like Apple , Google-parent company Alphabet and Microsoft . Lee said that the lauded Invesco QQQ ETF , which largely tracks nonfinancial stocks trading on the Nasdaq, will outperform the S & P 500 for the remainder of 2023. "I think the triple Q's, which is very heavily exposed to tech, will probably outperform the S & P into year end. If we think the S & P has 10% upside into year-end, the triple Q's could be 15%," he said.

Persons: Tom Lee, Lee Organizations: Nasdaq, Apple, Google, Microsoft, CNBC

☆ A publicly traded media venture with ties to MoviePass' former chairman has been suspended from Nasdaq and its stock is in free fall
▼ + stars: | 2023-08-02 | by ( Ashley Rodriguez | ) www.businessinsider.com time to read: +6 min

Embattled digital-media company Vinco Ventures has been suspended by Nasdaq after a board exodus. It became a meme stock in 2021 after teaming up with the ex-chairman of MoviePass and touting buzzy acquisitions. The future of Vinco Ventures, the publicly traded media venture with ties to ex-MoviePass chairman Ted Farnsworth, is hanging in the balance after a series of buzzy deals collapsed and a board exodus has put the stock on the brink of a Nasdaq delisting. Shares of Vinco have nosedived 99% since their recent peak in September 2021, when meme-stock investors helped propel the stock. Farnsworth led the 2017 acquisition of MoviePass as chairman and CEO of the then-publicly-traded company Helios & Matheson Analytics, or HMNY for short.

Persons: Ted Farnsworth, we've, Shadwrick Vick, Farnsworth, Vick, It'd, Vinco, They're, Mitch Lowe, Lowe, MoviePass, Chris Bond, Mr Organizations: Vinco Ventures, Nasdaq, Zash Global Media, Entertainment, National Enquirer, Street Journal, MoviePass, Helios, Matheson Analytics Locations: Vinco, Clark County , Nevada

☆ Apple and Meta powered the Nasdaq's sizzling rally in July, helping the tech-heavy index wrap up a 5-month winning streak
▼ + stars: | 2023-08-01 | by ( Zahra Tayeb | ) www.businessinsider.com time to read: +2 min

Apple and Meta stocks have been the key drivers of the Nasdaq 100's July rally. Investor excitement around AI still remains high, helping fuel a sizzling rally in tech stocks. Apple and Meta stocks have surged about 51% and 165%% year-to-date, respectively, with the latter's stunning gains helping boost CEO Mark Zuckerberg's fortunes to $120 billion this year. The two stocks helped fuel the Nasdaq 100's 3.81% advance through July, taking its year-to-date rally to almost 44%. The rally in tech stocks has even taken market bulls by surprise, including Morgan Stanley's Mike Wilson.

Persons: Mark Zuckerberg's, OpenAI's ChatGPT, Morgan Stanley's Mike Wilson, Wilson Organizations: Apple, Nasdaq, Service, Twitter Locations: Wall, Silicon

☆ Dow Jones index set to end 13 day winning streak
▼ + stars: | 2023-07-27 | by ( Noel Randewich | ) www.reuters.com time to read: +3 min

Its recent rally comes as traders widely believe that the U.S. Federal Reserve's 25 basis point rate hike on Wednesday was the last in its campaign to control inflation. The Dow's longest-ever winning streak was 14 sessions, set in 1897, according to S&P Dow Jones Indices. Even after its recent gains, the Dow has lagged Wall Street's other main indexes in 2023. Reuters GraphicsWhile the Dow's recent winning streak is unusually long, its overall strength has not been exceptional. The Dow's last 13-day winning streak in January 1987 produced a gain of 11.1%.

Persons: Dow, Hogan, Tesla, it's, darlings, Noel Randewich, Alison Williams Organizations: Dow Jones, Dow, Reuters, U.S, U.S . Federal, Riley, Nvidia, Apple, Microsoft, Chevron, Verizon Communications, Walgreen Boots Alliance, Nasdaq, Thomson Locations: U.S ., Amgen

☆ Despite a down day for the Dow, Cramer sees a lasting positive change in the market
▼ + stars: | 2023-07-27 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

CNBC's Jim Cramer on Thursday told investors he sees a lasting change in the market, not just an ephemeral rally. Despite a down day for the Dow, Cramer said he sees more fun on Wall Street. Cramer knows the market can't be positive every day, adding that "the fun and games" ended Thursday when interest rates spiked. "I think it is time to recognize that something has changed with this market, and I think it's a change for the better. Maybe, just maybe, we can have it again."

Persons: CNBC's Jim Cramer, Cramer, I've Organizations: Dow, Apple, Nvidia, Microsoft, Tesla, Federal Reserve

☆ Nasdaq beats profit estimates on steady demand for investment products
▼ + stars: | 2023-07-19 | by ( ) www.reuters.com time to read: +2 min

July 19 (Reuters) - Exchange operator Nasdaq (NDAQ.O) beat estimates for second-quarter profit on Wednesday on the back of consistent demand for its investment-related products and capital markets solutions such as anti-financial crime software. The diversification helped the transatlantic exchange operator blunt the effects of a drought in the U.S. market for IPOs that had soured last year due to rising interest rates and heavy volatility. A total of 23 companies listed on its Nasdaq Stock Market through IPOs in the quarter. In line with CEO Adena Friedman's diversification strategy, Nasdaq inked its biggest-ever deal of $10.5 billion for Thoma Bravo-owned software firm Adenza in the quarter. Reporting by Manya Saini in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Thoma, Manya Saini, Maju Samuel Organizations: Nasdaq, Thoma Bravo, Thomson Locations: U.S, IPOs, Bengaluru

☆ Meta and Qualcomm team up to run big A.I. models on phones
▼ + stars: | 2023-07-18 | by ( Kif Leswing | ) www.cnbc.com time to read: +2 min

But the AI boom has largely missed the companies that make leading edge processors for phones and PCs, like Qualcomm. The announcement on Tuesday suggests that Qualcomm wants to position its processors as well-suited for A.I. If large language models can run on phones instead of in large data centers, it could push down the significant cost of running A.I. Qualcomm will make Meta's open-source Llama 2 models available on Qualcomm devices, which it believes will enable applications like intelligent virtual assistants. Doing this will allow researchers and eventually commercial enterprises to use the AI models on their own computers without asking permission or paying.

Persons: Cristiano Amon, OpenAI's, Bard Organizations: Qualcomm, Milken Institute Global Conference, Calif, Meta, Nvidia Locations: Beverly Hills

☆ Twitter's valuation has been slashed by 47% at Ark Invest since Elon Musk took over
▼ + stars: | 2023-07-17 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Ark Invest has marked down its Twitter valuation by 47% since it was taken over by Elon Musk, the Wall Street Journal reported. Musk had recently tweeted that Twitter's advertising revenue has been cut in half since he took over the company. Given Musk purchased Twitter for $44 billion late last year, the markdown would put the company's current valuation at about $23 billion, based on Ark's estimate. "We're still negative cash flow, due to ~50% drop in advertising revenue plus heavy debt load," Musk said of Twitter on Twitter. We also think that longer term, Elon and team are very serious that they're going to turn this into an everything app," Wood said.

Persons: Elon Musk, Musk, Cathie Wood, Wood, Elon Organizations: Elon, Wall Street Journal, Service, Wall Street, Invest's Venture, Twitter, Fidelity, Ark, Nvidia, Nasdaq Locations: Wall, Silicon

WASHINGTON, July 13 (Reuters) - Partnering with Coinbase Global (COIN.O) may hinder rather than help Nasdaq's (NDAQ.O) bid to win regulatory approval for a bitcoin exchange-traded-fund it wants to launch with BlackRock (BLK.N). The SEC has denied previous spot bitcoin ETF proposals on the basis that they would be vulnerable to manipulation. The SEC last month sued Coinbase, escalating SEC chair Gary Gensler's crackdown on the crypto industry. And with roughly 56% of U.S. dollar bitcoin trading, according to Nasdaq's filing, Coinbase is integral to the U.S. bitcoin market. All told, the SEC has 240 days after it accepts the bitcoin ETF filing applications to make a decision.

Persons: Larry Fink, Bitcoin, Coinbase, Gary Gensler's, John Reed Stark, Sui Chung, Gensler, Joseph Silvia, Dickinson Wright, Silvia, Chung, Richard Marshall, Katten, Marshall, Michelle Price, John McCrank, Hannah Lang, Will Dunham Organizations: Coinbase, BlackRock, Nasdaq, U.S . Securities, Exchange Commission, SEC, Cboe Global, Fidelity, FOX Business, Internet Enforcement, BlackRock's, Reuters, Thomson Locations: BlackRock, U.S

☆ July Monthly Meeting: 'The plane is still flying,' Cramer says of the Fed's fight against inflation
▼ + stars: | 2023-07-12 | by ( Christopher Alessi | ) www.cnbc.com time to read: 1 min

July Monthly Meeting: 'The plane is still flying,' Cramer says of the Fed's fight against inflationAn incredible rally in tech stocks led to Nasdaq's best performance in 40 years. What's next? Will the Fed pull off the so-called soft landing many once thought impossible? Jim Cramer and Jeff Marks explain how they are positioning the portfolio ahead of a pivotal earnings season.

Persons: Cramer, What's, Jim Cramer, Jeff Marks

That compares with a 14.8% gain for the benchmark S&P 500 (.SPX). Microsoft (MSFT.O), Apple (AAPL.O), Nvidia (NVDA.O), Amazon.com (AMZN.O) and Tesla (TSLA.O) combined account for 43.8% weight in the index, according to Refinitiv data as of Monday's close. The special rebalancing may be conducted at any time if the aggregate weight of companies, each having more than 4.5% weight in the index, tops 48%, according to Nasdaq. COULD THE S&P 500 FOLLOW SUIT? Apple and Microsoft are the only two firms with weight over 4.5% in the S&P 500.

Persons: Hogan, Cameron Lilja, Dow, Wells, Sam Stovall, Sruthi Shankar, Medha Singh, Bansari, David Randall, Shounak Dasgupta Organizations: Nasdaq, Microsoft, Apple, Nvidia, Riley, U.S . Securities, Exchange, Dow Jones, Tesla, Booking Holdings, Gilead Sciences, Devices, CFRA, Thomson Locations: Wells, Gilead, Bengaluru, New York

One unit ran a "hackathon," or collaborative engineering event, of so-called generative AI, technology that produces text, images or other new content based on past data. The division, Verafin, was exploring how to imbue such AI into its product for fighting financial crime, he said, adding the technology could create investigative reports. Still, despite using other forms of AI for years, Nasdaq's latest work remains experimental; no code has been published yet drafted by AI, Peterson said. Nasdaq has accessed a preview of Amazon's answer to the generative AI race, namely Amazon Bedrock, a pick-your-preferred technology approach that includes Claude AI from the startup Anthropic. On the longer-term horizon for Nasdaq is integrating the Thoma Bravo-owned software firm Adenza, subject to closure of the $10.5 billion-deal Nasdaq announced last month.

Persons: AUSTIN, Brad Peterson, Verafin, Peterson, We're, Nasdaq's, OpenAI, Claude AI, Thoma, Jeffrey Dastin, Kenneth Li, Deepa Babington Organizations: Nasdaq, Computer, Amazon Web Services, Microsoft, Thoma Bravo, Thomson Locations: Austin

☆ History shows Wall Street can sustain its first half advance. How Jim Cramer is playing it
▼ + stars: | 2023-07-06 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +8 min

While together, the Nasdaq's nearly 20% annual gain in 1983 was quite respectable, the second half was clearly less fruitful. "I don't like the setup now for the beginning of the second half, although I think the second half could be strong." .SPX YTD mountain S & P 500 YTD peformance For the broader S & P 500, recent history suggests that its first-half strength, rising almost 16%, could be built on over the next six months. "That's why I think a strong first half tends to carry over into a strong second half." Stovall said he can envision some choppiness ahead for the S & P 500.

Persons: Jim Cramer, Jim, Wells, JPMorgan Chase, Morgan Stanley, Stocks, tech's, Sam Stovall Sam Stovall, Stovall, UBS Global Wealth Management Claudia Panseri, Claudia Panseri, Panseri, Jim Cramer's, Spencer Platt Organizations: Nasdaq, Procter & Gamble, Club, JPMorgan, Big Tech, FactSet, Federal Reserve, CFRA Research, CNBC, UBS Global Wealth Management, New York Stock Exchange, Getty Locations: U.S

☆ Nikkei leads Asia higher, China lags behind
▼ + stars: | 2023-07-03 | by ( Wayne Cole | ) www.reuters.com time to read: +5 min

China's factory activity slowed in June as the Caixin manufacturing survey showed a dip to 50.5, from 50.9 in May. China's central bank has promised more "forceful" action to support the economy and looks likely to soon get a new boss. Something major is needed given Chinese blue chips (.CSI300) shed 5% last quarter while much of the developed world rallied. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) gained 1.2%, though it was still lagging far behind Japan's market. S&P 500 futures and Nasdaq futures were steady ahead of the July 4 holiday, having gained more than 6% in June.

Persons: Tesla, May's, Michael Feroli, wouldn't, Brent, Wayne Cole, Christopher Cushing, Himani Sarkar Organizations: Nikkei, ANZ, Sino, Bank of Japan, FTSE, Nasdaq, BofA, Apple, Microsoft, JPMorgan, Fed, Thomson Locations: SYDNEY, Japan, Asia, Pacific, Saudi Arabia, Lincoln

☆ Nikkei leads Asia higher, China data underwhelms
▼ + stars: | 2023-07-03 | by ( Wayne Cole | ) www.reuters.com time to read: +5 min

China's factory activity slowed in June as the Caixin manufacturing survey showed a dip to 50.5, from 50.9 in May. China's central bank has promised more "forceful" action to support the economy and looks likely to soon get a new boss. Something major is needed given Chinese blue chips (.CSI300) shed 5% last quarter while much of the developed world rallied. S&P 500 futures and Nasdaq futures were steady ahead of the July 4 holiday, having gained more than 6% in June. Important U.S. data this week includes closely watched surveys on manufacturing and services, job openings and the June payrolls report.

Persons: Tesla, May's, Powell, Michael Feroli, Brent, Wayne Cole, Christopher Cushing, Himani Organizations: Nikkei, ANZ, Sino, Bank of Japan, FTSE, Nasdaq, BofA, Apple, Microsoft, JPMorgan, Thomson Locations: SYDNEY, Japan, Asia, Pacific, Saudi Arabia

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