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☆ How to be happier at work, says Ivy League-trained expert who's led workshops at Google, Microsoft
▼ + stars: | 2023-09-20 | by ( Morgan Smith | ) www.cnbc.com time to read: +2 min

Srikumar Rao has spent his decades-long career teaching Fortune 500 executives and students at the world's top business schools how to be happier at work. "People ask me all the time, what's the number one tip you can give me to be happier at work, or happier in my life? Just be present,'" Rao, 72, tells CNBC Make It. Rao, who has a Ph.D. in business from Columbia Business School, has taught at London Business School, the Haas School of Business at the University of California, Berkeley, Columbia Business School and elsewhere. He's also done pioneering research into workplace motivation and led employee workshops at Google, Microsoft and Merill Lynch, among other companies.

Persons: Srikumar Rao, He's, Rao, Merill Lynch Organizations: Fortune, CNBC, Columbia Business School, London Business School, Haas School of Business, University of California, Google, Microsoft Locations: Berkeley

☆ Ark CEO Cathie Wood says she avoided the Arm IPO frenzy. Here's why
▼ + stars: | 2023-09-20 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Cathie Wood, CEO of Ark Invest, speaks during an interview on CNBC on the floor of the New York Stock Exchange (NYSE) in New York City, February 27, 2023. Brendan McDermid | ReutersArk Invest CEO Cathie Wood said she did not participate in Arm's blockbuster initial public offering last week because she finds the chip designer was overvalued relative to its competitive position. Arm CEO Rene Haas and executives cheer, as Softbank's Arm, chip design firm, holds an initial public offering (IPO) at Nasdaq Market site in New York, U.S., September 14, 2023. Brendan Mcdermid | Reuters"So we did not participate in that IPO, and we also compare it to the stocks in our portfolios. The top holdings in Wood's flagship Ark Innovation ETF include Tesla , Shopify , UiPath , Unity , Zoom , Twilio , Coinbase , Roku , Block and DraftKings .

Persons: Cathie Wood, Brendan McDermid, Wood, Rene Haas, Brendan Mcdermid Organizations: Ark Invest, CNBC, New York Stock Exchange, Reuters Ark, Nasdaq, Reuters, Innovation, Tesla, U.S . Federal Reserve Locations: New York City, New York, U.S

☆ Pink Diamonds Emerged Out of One of Earth’s Most Ancient Breakups
▼ + stars: | 2023-09-19 | by ( Maya Wei-Haas | ) www.nytimes.com time to read: +1 min

Pink diamonds take the Barbiecore craze to another level, but the rosy color comes at a cost. These gems are among the most rare and valuable diamonds around. While all diamonds form under pressure, even more force turns once clear diamonds colorful. A slight extra squeeze turns a diamond pink, and a hard squash turns it brown. But out of every thousand gems, a couple would pop up in the rarer and more valuable pink.

Persons: “ They’re, ”, Hugo Olierook Organizations: Curtin University, Argyle Locations: Perth, Australia, Western Australia

☆ Arm Holdings shares slide as options draw robust trading volume
▼ + stars: | 2023-09-18 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +2 min

The shares closed down 4.5% at $58.00, having risen as high as $69 on Friday, its second day of trading. Some 74,000 Arm options contracts changed hands on Monday, the first day options were available for trading. Arm made the list of the 50 most actively traded single-stock names in the options market on Monday, according to options analytics service Trade Alert. About 82% of Arm's options trading volume was concentrated in contracts set to expire on Oct. 20, with much of the volume in puts, typically used to guard against or bet on share price declines. On Monday, puts that would guard against Arm shares slipping below $50 by mid-October were the most actively traded Arm options, with nearly 11,000 contracts traded.

Persons: Rene Haas, Brendan McDermid, Bernstein, Ophir Gottlieb, Gottlieb, Matt Amberson, Amberson, Saqib Iqbal Ahmed, Richard Chang, Rosalba O'Brien Organizations: Nasdaq, REUTERS, SoftBank's Arm Holdings, Facebook, Los, Market Laboratories, Arm, Thomson Locations: New York, U.S, Los Angeles

☆ Arm Holdings options draw robust trading volume as shares slide
▼ + stars: | 2023-09-18 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +2 min

Arm shares fell 5.3% to $57.50, after rising as high as $69 on Friday, its second day of trading. Some 29,000 Arm options contracts changed hands by 11:45 a.m. (1545 GMT) on Monday, the first day options were available for trading, with volume projected to hit 63,000 by the end of the day, according to options analytics service Trade Alert. The 2012 listing of options on Facebook Inc, now known as Meta Platforms, holds the record for the most active options market debut with some 360,000 contracts changing hands on the first day of trading. About 80% of the options trading volume was concentrated in contracts set to expire on Oct. 20, with much of the volume in puts, typically used to guard against or bet on share price declines. On Monday, puts that would guard against Arm shares slipping below $55 by mid-October were the most actively traded Arm options with some 4,500 contracts traded.

Persons: Rene Haas, Brendan McDermid, Ophir Gottlieb, Gottlieb, Matt Amberson, Amberson, Saqib Iqbal Ahmed, Richard Chang Organizations: Nasdaq, REUTERS, SoftBank's Arm Holdings, Facebook Inc, Los, Market Laboratories, Arm, Thomson Locations: New York, U.S, Los Angeles

SINGAPORE (AP) — Carlos Sainz Jr. won the Singapore Grand Prix for Ferrari on Sunday as Max Verstappen and Red Bull's historic win streaks in Formula One came to an end. Red Bull had dreamed of winning every race this year but had Verstappen fifth and Perez eighth after struggling all weekend in Singapore. Verstappen's winning run ended at 10 races and Red Bull's at 15, including one at the end of last year. George Russell crashed the other Mercedes on the final lap from third position to promote Hamilton to the podium. Charles Leclerc was fourth after failing to hold off the Mercedes cars on older tires, ahead of Verstappen in fifth.

Persons: — Carlos Sainz Jr, Max Verstappen, Red Bull, Perez, Sainz, McLaren's Lando Norris, Mercedes, Lewis Hamilton, George Russell, “, ” Sainz, Norris, ” Hamilton, Russell, Charles Leclerc, Pierre Gasly, Oscar Piastri, Liam Lawson, Kevin Magnussen, Haas Organizations: SINGAPORE, Singapore, Prix, Ferrari, One, Verstappen's, Bull's, McLaren, DRS, Alpine, AlphaTauri Locations: Singapore, Hamilton, Verstappen

☆ 'Smooth operator' Sainz ends Red Bull's winning streak
▼ + stars: | 2023-09-17 | by ( Tom Westbrook | ) www.reuters.com time to read: +5 min

"We nailed the race," said Sainz after his second career win for the Italian team and first since Silverstone last year. The Spaniard eked out his hard tyres for 42 laps, winning at the slowest possible speed, for Ferrari's first victory since Charles Leclerc triumphed in Austria in July last year. No team has ever won every race in a season of more than 10 rounds but Red Bull had looked capable of doing so until Singapore struck. Mercedes trimmed Red Bull's lead in the constructors' standings to 308 points, keeping them waiting at least another weekend for the title. Verstappen, who started on the hard tyres, moved up to second with Perez fourth but they were soon overhauled and plunged down the field after stopping under normal conditions.

Persons: Ferrari's Carlos Sainz Jr, Mercedes, Lewis Hamilton, Caroline Chia, Sainz, Red, Norris, Perez, Carlos Sainz, Max Verstappen's, McLaren's Lando Norris, Red Bull, George Russell, Hamilton, Lando, eked, Ferrari's, Charles Leclerc, Verstappen, Sergio Perez, LAWSON, Aston Martin's Fernando Alonso, Leclerc, Pierre Gasly, Oscar Piastri, Liam Lawson, Daniel Ricciardo, Kevin Magnussen, Haas, Logan Sargeant's Williams, Alpine's Esteban Ocon, Russell, Carlos, Alan Baldwin, Ken Ferris Organizations: Singapore, Circuit, Prix, Lewis Hamilton REUTERS, Hamilton, Ferrari, DRS, Silverstone, Alpine, McLaren, New, Formula One, Ferraris, Thomson Locations: Singapore, SINGAPORE, Italy, Austria, Monaco, Japan, AlphaTauri, London

☆ Beware Tech Billionaires Building Brand New Cities - The New York Times
▼ + stars: | 2023-09-17 | by ( Molly Turner | ) www.nytimes.com time to read: +3 min

But with so many tech investors at the helm who are eager to pilot new technologies like flying cars, I’m not optimistic. It’s challenging to transform our existing cities and to pilot new tech solutions on our streets. Wouldn’t it be easier to test new technologies, business models and government structures in cities free of pesky people? Market them to people who choose to join and see what the world learns.”But, these new cities are never really built from scratch. Follow The New York Times Opinion section on Facebook, Twitter (@NYTopinion) and Instagram.

Persons: Technotopians, they’ve, they’re, That’s, Lonsdale, Solano, They’ve, ” John Garamendi, we’ll, Molly Turner Organizations: Democrat, Haas School of Business, University of California, New York, Facebook, Twitter Locations: Toronto, Polynesia, Solano County, University of California Berkeley, ”

☆ Sainz wins thrilling Singapore Grand Prix as Verstappen and Red Bull’s streaks end
▼ + stars: | 2023-09-17 | by ( ) www.cnbc.com time to read: +3 min

Carlos Sainz of Spain driving the (55) Ferrari SF-23 after his pit stop during the F1 Grand Prix of Singapore at Marina Bay Street Circuit on September 17, 2023 in Singapore, Singapore. Runaway standings leader Max Verstappen's winning run ended at 10 races and Red Bull's at 15 — both F1 records — as Carlos Sainz Jr. won the Singapore Grand Prix for Ferrari on Sunday. Red Bull dreamed of winning every race this year but had Verstappen fifth and Perez eighth after struggling all weekend in Singapore. That was the best feeling," Sainz said after celebrating with his team as fireworks lit up the Singapore circuit. Leclerc was fourth after failing to hold off the Mercedes cars on older tires, ahead of Verstappen in fifth.

Persons: Carlos Sainz, Ferrari, Qian Jun, Max Verstappen's, Carlos Sainz Jr, Red Bull, Perez, Sainz, McLaren's Lando Norris, Mercedes, Lewis Hamilton, George Russell, Norris, Carlos, Russell, Ferrari's Charles Leclerc, couldn't, Hamilton, Leclerc, Verstappen, Pierre Gasly, Oscar Piastri, Liam Lawson, Daniel Ricciardo, Kevin Magnussen, Haas, Aston Martin, Fernando Alonso, Lance, didn't Organizations: of Singapore, Marina, Circuit, Red Bulls, Bull's, Singapore, Prix, Ferrari, Sunday, McLaren, DRS, Alpine, AlphaTauri Locations: Spain, Singapore, Hamilton, Verstappen

☆ Arm’s shares seen as a shoo-in for Nasdaq 100, though S&P 500 unlikely
▼ + stars: | 2023-09-15 | by ( Suzanne Mcgee And Lewis Krauskopf | ) www.reuters.com time to read: +4 min

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNEW YORK, Sept 15 (Reuters) - Newly publicly traded company Arm Holdings is poised to be added to popular indexes such as the tech-heavy Nasdaq 100, although inclusion in the S&P 500 is unlikely, analysts said. Shares of the British chip designer closed up 24.7% in their Nasdaq debut on Thursday, giving it a market value of $65 billion. “The Nasdaq 100 is the most likely widely followed index for the company to get added into,” said Todd Rosenbluth, Head of Research at VettaFi. However, inclusion in the Nasdaq 100 may take time for Arm shares. Inclusion of Arm shares in the S&P 500, which is the standard benchmark for the U.S. stock market, is far less certain, analysts said.

Persons: Rene Haas, Brendan McDermid, ”, Todd Rosenbluth, Russell, Todd Sohn, Sohn, Jeffrey DeMaso, Dow Jones, Lois Gregson, Suzanne McGee, Lewis Krauskopf, Ira Iosebashvili, Nick Zieminski Organizations: Nasdaq, REUTERS, Arm Holdings, Fund, Nvidia, Research, Lucid, ARM, Vanguard Investment, VanEck Semiconductor, Software, FactSet, Thomson Locations: New York, U.S, British, VettaFi

☆ CNBC Daily Open: Arm’s spectacular day lends helping hand to banks
▼ + stars: | 2023-09-15 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +2 min

This 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. The long reach of ArmArm shares surged almost 25% on its first day of trading on New York's Nasdaq, and a further 6% in extended trading. "ECB interest rates have reached levels that … will make a substantial contribution to the timely return of inflation to the target," the bank's council said. Focus on the coreThe U.S. producer price index, which measures wholesale prices, rose a seasonally adjusted 0.7% in August — far more than the 0.4% estimate — and 1.6% from a year earlier.

Persons: Rene Haas, —, Berkshire Hathaway, Yun Li Organizations: Arm Ltd, Nasdaq, CNBC, U.S, Dow Jones, EU, ECB, PPI, HP Warren, HP Locations: New York, U.S

☆ CNBC Daily Open: Arm’s surge lends helping hand to banks
▼ + stars: | 2023-09-15 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +3 min

Michael M. Santiago | Getty Images News | 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. In the same vein, when Arm experienced a flush of wellbeing, it radiated through markets' entire body, giving them their best day in weeks. The S&P 500 advanced 0.84%, its best showing in around two weeks, and the Nasdaq Composite gained 0.81%. "You've got the perfect framework of inflation heading in the right direction, but the economy not falling apart," Hogan said.

Persons: Rene Haas, Michael M, Hogan, JPMorgan Chase, Morgan Stanley, Goldman Sachs, Goldman, Goldman —, assuaged, You've Organizations: GM, Arm, Nasdaq, Santiago, Getty, CNBC, Riley, Big, JPMorgan, Tech, Dow, PPI Locations: New York City, U.S

☆ SoftBank's Arm by the numbers
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +3 min

Arm CEO Rene Haas rings the opening bell, as Softbank's Arm, chip design firm, holds an initial public offering (IPO) at Nasdaq Market site in New York, U.S., September 14, 2023. Arm says it has a 10% share in cloud computing chips, 41% in automotive chips, 25.5% in networking and 64.5% in Internet of Things. That makes Arm China, not better-known names like Apple (AAPL.O) or Qualcomm (QCOM.O), Arm's largest customer. Arm China, in which Arm itself is in effect only a minority shareholder, underwent a nearly two-year boardroom battle between its local chief and shareholders that ended last year. In its latest earnings for the June quarter, SoftBank valued Arm at $45 billion, but two months later, it bought back a 25% stake in Arm that had been owned by SoftBank's investment vehicle, the Vision Fund, at a $64 billion valuation.

Persons: Rene Haas, Brendan McDermid, Group's, Arm, SoftBank, Anton Bridge, Miyoung Kim, Kim Coghill Organizations: Nasdaq, REUTERS, Arm Holdings, Apple, Qualcomm, SoftBank, Nvidia, Devices, Intel, Samsung Electronics, Vision, Thomson Locations: New York, U.S, United States, China, CHINA, Tokyo

Arm executives and CEO Rene Haas gather outside Nasdaq Market site, as Softbank's Arm, chip design firm, holds an initial public offering (IPO), in New York, U.S., September 14, 2023. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSept 15 (Reuters) - Shares of SoftBank's Arm Holdings closed a volatile session lower on Friday, a day after a stellar Nasdaq debut that valued the British chip designer at $65 billion. The stock fell 4.5% to end at $60.75, after trading as high as $69 earlier in the session. The Nasdaq (.IXIC) was down 1.6% and the S&P 500 (.SPX) fell 1.2%, while an index of semiconductors (.SOX) sank 3%. Analysts said further trading volatility in Arm may be seen if the company draws more interest from AI-focused retail investors.

Persons: Rene Haas, Brendan McDermid, chipmakers, Arm's, Randy Frederick, Charles Schwab, Rick Meckler, Sophie Lund, Yates, Hargreaves Lansdown, Financials, Michael Ashley Schulman, Needham, Manya Saini, Caroline Valetkevitch, Saqib Iqbal Ahmed, Niket Nishant, Arun Koyyur, Grant McCool Organizations: Nasdaq, REUTERS, Arm Holdings, Major U.S, Cherry Lane Investments, Analysts, Graphics Arm, Running, Capital Advisors, Nvidia, Reuters Graphics, Thomson Locations: New York, U.S, British, Austin , Texas, New Vernon , New Jersey, Bengaluru

☆ Women are likely to face financial curveballs in retirement — including one potentially life-destroying event
▼ + stars: | 2023-09-15 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

A majority of female retirees, 81%, have experienced at least one such unexpected financial event, versus 69% of men. Retired women are also more likely to face other shocks, including the death of another family member or close friend, suffering a financial setback or becoming a caregiver. Women are more likely to be caregivers for familyMoreover, a majority of unpaid family caregivers are women. Women are more likely to take on those responsibilities when they may not have enough saved for their own retirement, she said. Half of women said they are behind on retirement savings, versus just 35% of men, according to a 2022 Goldman Sachs report.

Persons: There's, Edward Jones, Lena Haas, Haas, Heather Ettinger, Ettinger, Goldman Sachs Organizations: AARP, Fairport Wealth, Social Security Locations: Cleveland , Ohio

☆ Watch CNBC's full interview with Softbank CEO Masayoshi Son and Arm CEO Rene on Arm's IPO
▼ + stars: | 2023-09-14 | 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 EmailWatch CNBC's full interview with Softbank CEO Masayoshi Son and Arm CEO Rene on Arm's IPOArm CEO Rene Haas and Softbank CEO Masayoshi Son sit down with CNBC's David Faber exclusively ahead of the company's blockbuster IPO. Together they discussed expectations for the public markets, China, business outlook and competition.

Persons: Masayoshi, Rene, Rene Haas, Masayoshi Son, CNBC's David Faber Locations: China

☆ Arm is trading at a premium to Nvidia after IPO pop even though it's a 'no-growth company'
▼ + stars: | 2023-09-14 | by ( Ari Levy | ) www.cnbc.com time to read: +5 min

Arm CEO Rene Haas and executives cheer, as Softbank's Arm, chip design firm, holds an initial public offering (IPO) at Nasdaq Market site in New York, U.S., September 14, 2023. Arm's Nasdaq debut on Thursday looks good for SoftBank, which just spun the company out after acquiring it in 2016. The UK-based chip design company saw its stock jump 25% to $63.59 after its IPO, lifting the company's fully diluted market cap to almost $68 billion. For now, there's not a big open market for Arm's stock. Of the $4.9 billion worth of shares SoftBank sold, $735 million were purchased by a group of strategic investors including Apple , Google , Nvidia, Samsung and Intel .

Persons: Rene Haas, Jay Ritter, there's, SoftBank, Masayoshi Son, We've, CNBC's David Faber, Matt Oguz, it's, —, Oguz, Kif Leswing, SoftBank's Masayoshi, Arm's Rene Haas Organizations: Nasdaq, Wall, Nvidia, Semiconductor, U.S, University of Florida, Apple, Google, Samsung, Intel, Venture Science, AMD Locations: New York, U.S

☆ Arm’s $52 bln IPO value sets stage for a fall
▼ + stars: | 2023-09-14 | by ( Karen Kwok | ) www.reuters.com time to read: +4 min

Arm’s IPO investors are effectively paying a slight premium while also betting that both growth and profitability are about to soar. Haas could then charge higher royalty rates. In the last calendar year, the company estimated that its royalty revenue equated to 1.7% of total worldwide spending on Arm-based chips. It’s not clear how many important Arm customers like Apple (AAPL.O), Nvidia (NVDA.O) and Samsung Electronics (005930.KS) have agreed to pay higher royalty rates. Nor will rising royalty rates necessarily compensate for possibly ongoing sluggish sales of smartphones, its key historic market.

Persons: Rene Haas, Haas, It’s, SoftBank, Liam Proud, Sharon Lam Organizations: Reuters, SoftBank Group, Cadence Design Systems, Apple, Nvidia, Samsung Electronics, Reuters Graphics Reuters, Thomson Locations: KS, British, New York

☆ Arm CEO: China business reflects growth we see in the rest of the world
▼ + stars: | 2023-09-14 | 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 EmailArm CEO: China business reflects growth we see in the rest of the worldRene Haas, Arm CEO, and Masayoshi Son, SoftBank chairman & CEO, join 'Squawk Box' to discuss Haas' thoughts on the company's global business, Son's sense of the risk of doing business in China, and more.

Persons: Rene Haas, Haas Organizations: Arm Locations: China

☆ SoftBank's Arm soars in market debut to notch $60 bln valuation
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +3 min

Arm executives and CEO Rene Haas gather outside Nasdaq Market site, as Softbank's Arm, chip design firm, holds an initial public offering (IPO), in New York, U.S., September 14, 2023. REUTERS/Brendan McDermid Acquire Licensing RightsSept 14 (Reuters) - Shares in SoftBank's Arm Holdings ARM.O opened 18% above their offer price in their Nasdaq debut on Thursday, valuing the British chip designer at nearly $60 billion in its return to the public markets after seven years. The stock opened at $56.10 per American Depositary Share compared with the initial public offering (IPO) price of $51, and steadily extended gains to just over $60. "The Arm IPO is the most hyped listing we've had in the markets for a while." Compiled by the Global Finance & Markets Breaking News teamOur Standards: The Thomson Reuters Trust Principles.

Persons: Rene Haas, Brendan McDermid, SALMAN MALIK, ANSON, ” OWEN LAU, JORDAN STUART, “, ” “, ’ ” DANIEL KLAUSNER, HOULIHAN, haven't, ”, ” KYLE RODDA, ANDREW Organizations: Nasdaq, REUTERS, Holdings ARM.O, OPPENHEIMER, FEDERATED HERMES, OF, PUBLIC, ROSENBLATT, Global Finance, Markets, Thomson Locations: New York, U.S, “

☆ Arm China 'doing well,' CEO says, even as SoftBank's Masa Son reduces China exposure
▼ + stars: | 2023-09-14 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

You can watch David Faber's interview with Arm CEO Rene Haas and SoftBank CEO Masayoshi Son live on CNBC Pro. But SoftBank CEO Masayoshi Son, who made a fortune through Chinese juggernaut Alibaba , said SoftBank had reduced its "exposure in China" by a significant amount. Neither Arm nor SoftBank, which acquired Arm for $32 billion in 2016, directly control their China subsidiaries. Arm now only directly owns around 5% of Arm China, but the group still accounts for nearly a quarter of Arm's fiscal 2023 revenue, according to pre-offering filings. Son was focused on SoftBank's stake in Alibaba, which SoftBank has been reducing steadily over the last few years.

Persons: David Faber's, Rene Haas, Masayoshi, Masayoshi Son, Alibaba, SoftBank, Biden, Son, CNBC's David Faber, ByteDance Organizations: CNBC Pro, Arm, CNBC, Nasdaq, Intel, Nvidia, Vision, U.S Locations: China, Alibaba, SoftBank

☆ ARM lifts Nasdaq ahead of NYSE on IPO capital raises
▼ + stars: | 2023-09-14 | by ( Laura Matthews | ) www.reuters.com time to read: +2 min

[1/2] Arm CEO Rene Haas looks on, as Softbank's Arm, chip design firm, holds an initial public offering (IPO) at Nasdaq Market site in New York, U.S., September 14, 2023. So far this year, 68 traditional U.S. IPOs on Nasdaq have raised $8.6 billion, surpassing $6.4 billion for NYSE, the data released on Thursday showed. "Today has been a milestone day for Nasdaq with Arm being the largest IPO of the year. Shares in SoftBank's Arm Holdings soared almost 25% above their Nasdaq debut price on Thursday, rekindling investor hopes for a turnaround in the moribund market for initial public offerings (IPO). This year, Nasdaq has won 87% of U.S. IPOs listings, and has led its rival for 38 consecutive quarters according to its own data.

Persons: Rene Haas, Brendan McDermid, Karen Snow, Owen Lau, Laura Matthews, Richard Chang Organizations: Nasdaq, REUTERS, New York Stock Exchange, IPOs, NYSE, Arm Holdings, Oppenheimer, Co, Thomson Locations: New York, U.S

MADISON, Wis. (AP) — The Republican-controlled Wisconsin Senate was set to vote Thursday on firing the battleground state's top elections official — a move that was denounced by Democrats as illegitimate and is expected to draw a legal battle. Nonpartisan Wisconsin Elections Commission Administrator Meagan Wolfe has been the subject of conspiracy theories and threats from election skeptics who falsely claim she was part of a plan to rig the 2020 vote in Wisconsin. The bipartisan elections commission deadlocked in June on a vote to nominate Wolfe for a second four-year term. In addition to carrying out the decisions of the elections commission, Wolfe helps guide Wisconsin’s more than 1,800 local clerks who actually run elections. Since the 2020 election, some Republicans have floated the idea of abolishing or overhauling the elections commission.

Persons: Meagan Wolfe, Wolfe, Devin LeMahieu, Josh Kaul, Kaul, Michael Haas, Scott Walker's, ERIC Organizations: Republican, Wisconsin Senate, GOP, Democratic, Biden, Trump, Republicans, Government, Board, Republican Gov, National Association of State, Registration, Associated Press, America Statehouse News Initiative, America Locations: MADISON, Wis, Wisconsin

SoftBank CFO Yoshimitsu Goto and Arm Holdings CEO Rene Haas pose for a photo at the Nasdaq MarketSite on September 14, 2023 in New York City. Shares of chip design company Arm Holdings started trading on the Nasdaq Thursday morning in a long-anticipated IPO at a share price of $56.10, valuing the company at $59.9 billion. Arm Holdings sold around 95.5 million shares on the Nasdaq. Softbank, which took the company private in 2016, will control around 90% of Arm's shares outstanding. At a $54 billion valuation, Arm's price-to-earnings multiple would be about 104 based on the most recent fiscal year profit.

Persons: Yoshimitsu Goto, Rene Haas, Arm, Masayoshi Son Organizations: Arm, Nasdaq, Arm Holdings, Apple, Google, Samsung, CNBC Locations: New York City, British

NEW YORK (AP) — Shares of U.K. chip designer Arm Holdings rose 10% in their stock market debut, in what is the largest initial public offering of shares in nearly two years. Arm's offering is an important development for the IPO market, which has seen relatively few companies go public the past two years. Nearly 400 companies went public in 2021 as the stock market rallied for a third straight year, according to IPO tracker Renaissance Capital. Arm was previously a public company from 1998 to 2016. Goldman is one of the lead underwriters for the Arm IPO, as well as an offering from grocery delivery service Instacart, expected next week.

Persons: It's, Goldman Sachs, Rivian, Masayoshi Son, Softbank, Son, Rene Haas, Haas, Goldman, ___ Kageyama Organizations: Arm Holdings, Nasdaq, Renaissance, Federal Reserve, SoftBank, Nvidia, University of California, underwriters Locations: University of California Berkeley, IPOs, Wall, Tokyo

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