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☆ Here are the 12 stocks Jim Cramer is watching, including Netflix, Arm, Planet Fitness
▼ + stars: | 2023-09-18 | by ( Jim Cramer | ) www.cnbc.com time to read: +1 min

Here are some of the tickers on my radar for Monday, Sept. 18 taken directly from my reporter's notebook:Evercore cuts NetflixCiti takes American Airlines Delta Air LinesBernstein starts Arm Holdings (ARM) with an underperform (sell) rating. Arm dropped nearly 4.5% on Friday. If you like this story, sign up for Jim Cramer's Top 10 Morning Thoughts on the Market email newsletter for free. White House national security adviser Jake Sullivan met with Chinese Foreign Minister Wang Yi in Malta held talks this weekend in Malta. MoffetNathanson downgrades PayPal Mastercard VisaJefferies downgrades Planet FitnessWedbush upgrades CarvanaHomebuilder LennarMizuho bumps up price targtets some oil stocks: Exxon Mobil Valero Energy

Persons: American Airlines Delta Air Lines Bernstein, Jim Cramer's, Jake Sullivan, Wang Yi, Mizuho Organizations: Netflix Citi, American Airlines Delta Air Lines, Arm Holdings, White House, Foreign, PayPal Mastercard, Jefferies, Exxon Mobil Valero Energy Locations: Malta, China

☆ 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

☆ Options Action: Bearish bets on Arm Holdings after IPO
▼ + stars: | 2023-09-18 | 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 EmailOptions Action: Bearish bets on Arm Holdings after IPOMike Khouw, Optimize Advisors president, joins CNBC’s Melissa Lee and the Options Action traders, to talk Arm Holdings.

Persons: Mike Khouw, Melissa Lee Organizations: Arm Holdings, Options

☆ Instacart planning to sell shares in IPO for $30 or more - Bloomberg News
▼ + stars: | 2023-09-18 | by ( ) www.reuters.com time to read: +1 min

Sept 18 (Reuters) - Grocery delivery app Instacart is planning to sell shares in its initial public offering (IPO) for $30 apiece and perhaps more, Bloomberg Newsreported on Monday, citing people familiar with the matter. The company is heading to the bourse almost three years after it kicked off preparations for going public. Instacart on Friday raised its proposed price range for its IPO, offering to sell 22 million shares now at $28 to $30 each compared to its previous price range of $26 to $28 each. San Francisco-based Instacart is in talks to price the shares at the top of that range or potentially higher at $31, according to Bloomberg. Instacart, which filed for the IPO as "Maplebear," declined to comment.

Persons: Bloomberg Newsreported, Instacart, Arunima Kumar, Shweta Agarwal Organizations: Bloomberg, bourse, Arm Holdings, Instacart, Thomson Locations: San Francisco, Bengaluru

Instacart on Monday priced its initial public offering of stock at $30 a share, raising $660 million for the grocery delivery company. San Francisco-based Instacart sold 22 million shares in the IPO. The price gives Instacart a market value of around $10 billion. Instacart is the market leader among third-party grocery delivery companies, according to YipitData, a market research firm. Political Cartoons View All 1167 ImagesInstacart provides delivery and pickup from 85% of U.S. grocers, or more than 80,000 stores, using a network of 600,000 freelance shoppers.

Persons: Instacart, Uber Organizations: Nasdaq, Instacart, Arm Holdings, Walmart Locations: San Francisco, U.K, U.S

☆ The hot IPO everyone was focused on is about to have a big sell-off, Bernstein predicts
▼ + stars: | 2023-09-18 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

The stock market may have gotten ahead of itself with the excitement around the initial public offering of Arm Holdings , according to Bernstein. In addition, we remain more conservative on their ability to deliver increased royalty rates at the pace management is guiding," the Bernstein note said. ARM 5D mountain Shares of Arm are still up from their IPO price of $51 per share. Bernstein has a price target of $46 per share for Arm, which is about 24% below where the stock closed on Friday. With the mobile end market maturing, we think expectations for top line growth are too optimistic," the note said.

Persons: Bernstein, Sara Russo, — CNBC's Michael Bloom Organizations: Arm Holdings, ARM

☆ 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

☆ Bernstein initiates coverage of Arm as underperform Monday. Here's what the pros are saying
▼ + stars: | 2023-09-18 | by ( Christina Falso | ) www.cnbc.com time to read: 1 min

Market Movers rounded up the latest reactions on Arm Holdings from Jim Cramer and Virtus Investment Partners' Joe Terranova. Cramer discussed why he thinks Arm is too expensive, even as shares have recently declined. The stock climbed nearly 25% when it debuted last Thursday. Terranova talked about why he is still optimistic about the semiconductor space but prefers to own Broadcom over Arm. The chipmaker dipped 4.5% Monday after Bernstein initiated coverage of the stock with an underperform rating, saying it's "too early" to call Arm an AI winner .

Persons: Jim Cramer, Joe Terranova, Cramer, Terranova, Bernstein Organizations: Arm Holdings, Virtus Investment Partners, Broadcom

☆ Analysis: Arm's stellar listing sets the stage for more SoftBank acquisitions
▼ + stars: | 2023-09-17 | by ( Anton Bridge | ) www.reuters.com time to read: +4 min

[1/2] A smartphone with a displayed Arm Ltd logo is placed on a computer motherboard in this illustration taken March 6, 2023. The tech investment behemoth raised nearly $5 billion from Arm's offering while retaining 90.6% of the firm. Known for debt-fuelled acquisition sprees, SoftBank founder and CEO Masayoshi Son flagged in June that the company was shifting back into "offence mode" as he highlighted the potential of artificial intelligence. That's after a year of "defence mode" when tech valuations crashed amid higher interest rates and global banking jitters. Few companies in SoftBank's investment portfolio have demonstrated commercial utility in AI, analysts said.

Persons: Dado Ruvic, behemoth, Masayoshi, Yoshimitsu Goto, SoftBank, SemiAnalysis, Kyle Stanford, There's, Amir Anvarzadeh, PitchBook's Stanford, Anton Bridge, Miyoung Kim, Edwina Gibbs Organizations: REUTERS, Rights, Arm Holdings, SoftBank, HK, Vision, Nvidia, Asymmetric Advisors, Thomson Locations: British

REUTERS/Brendan McDermid Acquire Licensing RightsReuters Graphics Reuters GraphicsThe S&P 500 dropped 1.22% to end at 4,450.32 points. All 11 S&P 500 sector indexes declined, led lower by information technology (.SPLRCT), down 1.95%, followed by a 1.88% loss in consumer discretionary (.SPLRCD). For the week, the S&P 500 fell 0.16% and the Nasdaq lost 0.39%. Declining stocks outnumbered rising ones within the S&P 500 (.AD.SPX) by a 4.4-to-one ratio. The S&P 500 posted seven new highs and eight new lows; the Nasdaq recorded 48 new highs and 216 new lows.

Persons: chipmakers, Lam, Stoking, Lisa Erickson, Brendan McDermid, Amgen, Japan's, Ankika Biswas, Shristi, Noel Randewich, Vinay Dwivedi, Richard Chang Organizations: Nasdaq, Dow, Lam Research, KLA Corp, Reuters, Nvidia, Devices, Broadcom, Micron Technology, Philadelphia Semiconductor, United Auto Workers ', General Motors, Ford, Chrysler, Federal Reserve, U.S, Bank Wealth Management, Traders, Microsoft, Adobe, New York Stock Exchange, REUTERS, Reuters Graphics Reuters, Dow Jones, SoftBank's Arm Holdings, Neumora Therapeutics, Thomson Locations: U.S, Minneapolis, New York City, Bengaluru, Oakland , California

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 29, 2023. SoftBank's Arm Holdings gained 6.5% after a stellar Nasdaq debut on Thursday, rekindling hopes of a turnaround in the initial public offering (IPO) market. U.S.-listed shares of Alibaba Group Holdings , JD.com , PDD Holdings (PDD.O) and Xpeng rose between 0.1% and 1.6%. ET, Dow e-minis were up 85 points, or 0.24%, S&P 500 e-minis were up 6 points, or 0.13%, and Nasdaq 100 e-minis were down 4.5 points, or 0.03%. Reporting by Ankika Biswas and Shristi Achar A in Bengaluru Editing by Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Lam, Taiwan's TSMC, Stellantis, rekindling, Russ Mould, AJ Bell, Ankika Biswas, Shristi, Vinay Dwivedi Organizations: New York Stock Exchange, REUTERS, Ford, Motors, UAW, Dow, Nasdaq, Lam Research, KLA Corp, Reuters, Ford Motor, General Motors, United Auto Workers, Chrysler, SoftBank's Arm Holdings, Nvidia, there's, Therapeutics, Reuters Graphics Reuters, Traders, Federal Reserve, University of, Alibaba Group Holdings, PDD Holdings, Dow e, Thomson Locations: New York City, U.S, Bengaluru

☆ SoftBank-backed Neumora valued at $2.51 billion in lukewarm debut
▼ + stars: | 2023-09-15 | by ( Jaiveer Shekhawat | ) www.reuters.com time to read: +2 min

Sept 15 (Reuters) - Shares of Neumora Therapeutics (NMRA.O), which is backed by Amgen (AMGN.O) and Japan's SoftBank (9984.T), fell in their market debut on Friday, giving the company a market capitalization of $2.51 billion. The ongoing surge in listings points to a nascent recovery in the U.S. IPO market amid growing expectations of a pause in interest rate hikes by the Federal Reserve. Neumora, which is developing drugs for brain diseases, raised $250 million by selling 14.7 million shares priced at the mid-point of its previously disclosed range. Neumora's debut comes a day after Arm Holdings' strong debut valued the chip designer at more than $60 billion. "Neumora opened up trading slightly below the IPO price, but taken in context with RayzeBio ... market sentiment for established, later-stage biotech IPOs appears strong," Mullin added.

Persons: Japan's SoftBank, Neumora, Riley Mullin, Mullin, Jaiveer Shekhawat, Pritam Biswas, Shounak Dasgupta Organizations: Neumora Therapeutics, Nasdaq, Federal Reserve, Arm Holdings, Renaissance Capital, Arch Venture Partners, Thomson Locations: Watertown , Massachusetts, U.S, Bengaluru

TOKYO (AP) — Asian shares were mostly higher Friday after China reported that its slowing economy showed signs of stabilizing in August. That is seen as a sign the economy may be breaking out of its post-pandemic malaise. “The Arm IPO optimism and China’s further stimulus measures boosted sentiment across Asian stock markets,” Tina Teng, a markets analyst at CMC Markets APAC & Canada, said in a commentary. A third report said prices getting paid at the wholesale level rose more last month than economists expected. Ignoring those and other particularly volatile prices, underlying inflation trends in Thursday’s report were closer to economists’ expectations.

Persons: Hang Seng, “, Australia's, Tina Teng, they’re, Mike Loewengart, ” Organizations: TOKYO, China, People's Bank of, Nikkei, SoftBank Group Corp, Arm Holdings, Nasdaq, CMC, Dow Jones Industrial, Treasury, Federal Reserve, Fed, CME Group, Morgan Stanley Global Investment, Brent, U.S . Locations: Shanghai, People's Bank of China, Tokyo, Canada, U.S

Klaviyo, which is seeking an $8 billion fully diluted valuation at the midpoint of its $25-$27 range, is in talks with its IPO underwriters about raising that range, the sources said. Klaviyo is the latest company to seek to raise its IPO price range. Grocery delivery app Instacart, which is also going public next week, raised its IPO price range on Friday to target a fully-diluted valuation of up to $10 billion. The chip designer floated on Nasdaq on Thursday at a $54.5 billion valuation and is now worth $65 billion, on a fully diluted basis. Grocery delivery app Instacart, which is also going public next week, raised its IPO price range on Friday to seek a fully-diluted valuation of up to $10 billion.

Persons: Klaviyo, Andrew Bialecki, Ed Hallen, Echo Wang, Anirban Sen, Diane Craft Organizations: Inc, underwriters, Arm Holdings, Nasdaq, BlackRock Inc, Thomson Locations: New York

☆ Instacart aims for valuation of up to $10 billion in upcoming IPO
▼ + stars: | 2023-09-15 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

Fidji Simo, CEO of Instacart Inc., speaks during an interview in San Francisco, March 3, 2022. Grocery delivery platform Instacart raised its initial price range to between $28 and $30 per share in a regulatory filing Friday, aiming for a valuation of up to $10 billion. Instacart plans to offer 22 million total shares when it debuts on the Nasdaq, including from current shareholders, and could raise up to $660 million. Despite upping its price range — the day after a successful Arm Holdings debut — Instacart's valuation has plunged significantly since 2021, when it raised $265 million at a $39 billion valuation. Beyond Arm Holdings and Instacart, marketing automation firm Klaviyo and biotechnology firm Neumora are set to list soon.

Persons: Fidji Simo Organizations: Instacart Inc, Nasdaq, PepsiCo, Arm Holdings Locations: San Francisco

☆ Birkenstock reveals 21% revenue jump in updated financials ahead of IPO
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +1 min

A pair of shoes is pictured in a window of a Birkenstock footwear store in Berlin, Germany, January 21, 2021. REUTERS/Fabrizio Bensch/File Photo Acquire Licensing RightsSept 15 (Reuters) - German premium footwear maker Birkenstock Holding's revenue jumped 21% in the nine months ended June 30, it said in updated paperwork for a U.S. stock market listing on Friday. The company, backed by private equity firm L Catterton, is one of a handful of high-profile firms gearing up for a stock market debut. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) grew 16% to 387 million euros in the same period. Goldman Sachs, J.P. Morgan and Morgan Stanley are among the underwriters for the IPO.

Persons: Fabrizio Bensch, Birkenstock, Barbie, Margot Robbie, Goldman Sachs, J.P, Morgan, Morgan Stanley, Niket, Krishna Chandra Organizations: REUTERS, SoftBank, Arm Holdings, underwriters, Thomson Locations: Berlin, Germany, U.S, Bengaluru

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

☆ Instacart raises IPO price range after robust Arm debut
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +2 min

The price hike signals robust investor demand for San Francisco-based Instacart, which is looking to finally list its shares this month after years of waiting in the wings. Investors will be pinning hopes on robust debuts from Instacart, Klaviyo and Neumora to carry the momentum in the IPO market after Arm's strong showing on Thursday. Instacart said it is now seeking to sell 22 million shares at $28 to $30 each. At the top end of the range, the IPO will fetch $660 million compared with the earlier target of $616 million. The company's raised valuation target, however, would still be just one-fourth of the $39 billion it was worth after its last funding round more than two years ago.

Persons: Dado Ruvic, Group's, Instacart, Goldman Sachs, J.P, Morgan, Niket, Krishna Chandra Organizations: REUTERS, Arm Holdings, San, Neumora Therapeutics, Instacart, Cornerstone, PepsiCo, Instacart's, Thomson Locations: San Francisco, Bengaluru

☆ 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

☆ 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

☆ Morning Bid: Autoworkers' walkout to test resilience of US economy
▼ + stars: | 2023-09-15 | by ( ) www.reuters.com time to read: +3 min

Brighter data from China meanwhile has helped lift sentiment across global markets, except for China, heading into the weekend. While Japan's Nikkei (.N225) rose 1% and European shares opened higher (.STOXX), China shares reversed earlier gains (.CSI300). European markets continued to cheer the likely end of the European Central Bank's rate hiking cycle. And even if the ECB suggested rates would stay higher for longer, markets are already looking past that to rate cuts as economic growth weakens. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.

Persons: Eric Cox, Nick Macfie Organizations: United Auto Workers, Ford Michigan Assembly Plant, REUTERS, General Motors, Ford, Chrysler, United, Workers, Japan's Nikkei, European, ECB, SoftBank's Arm Holdings, Nasdaq, Reuters Graphics Reuters, Uni of Michigan, Thomson, Reuters Locations: Wayne , Michigan, U.S, Australia, China

☆ Arm Holdings options to come to market starting Monday
▼ + stars: | 2023-09-15 | by ( Saqib Iqbal Ahmed | ) www.reuters.com time to read: +2 min

Nasdaq plans to list options on Arm Holdings across all six of its exchanges, a spokesperson for the exchange said on Friday. Other options exchange operators, Cboe Global Markets (CBOE.Z) and Intercontinental Exchange's (ICE.N) New York Stock Exchange, did not immediately respond to a Reuters request for comment on their own plans to list ARM options. "I have every reason to believe that when ARM options are listed they will be very popular," Steve Sosnick, chief strategist at Interactive Brokers, said. Arm Holdings is of significant interest to retail investors, Dan Raju, chief executive at online brokerage firm Tradier, said. I expect the listing of options to also see an initial surge in options activity followed by a tapering," he said.

Persons: Dado Ruvic, Steve Sosnick, Sosnick, Dan Raju, Saqib Iqbal Ahmed, Richard Chang Organizations: REUTERS, SoftBank's, Holdings, Nasdaq, Arm Holdings, Cboe, New York Stock Exchange, ARM, Interactive, Facebook Inc, Facebook, Thomson Locations: New

☆ Stocks making the biggest moves midday: General Motors, Stellantis, Planet Fitness, Adobe and more
▼ + stars: | 2023-09-15 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Nucor — The steelmaker fell 6.1% after offering worse-than-expected guidance for third-quarter earnings, with the company pointing to pricing and volume challenges. Core & Main — The infrastructure stock retreated 4.1% a day after it announced a secondary stock offering. The bank said Apellis has a favorable risk/reward ahead of third-quarter earnings. The Wall Street firm said the resumption of loan repayments introduce bookings risk to food delivery. The Wall Street firm said its pessimistic outlook was changing despite recent underperformance in the reinsurance space.

Persons: Stellantis, Chris Rondeau, Rondeau, Craig Benson, Nucor, Raymond James, Needham, Charles Shi, Lam, Goldman Sachs, Apellis, MoffettNathanson, Estée Lauder, Goldman, Yun Li, Jesse Pound, Samantha Subin, Pia Singh, Brian Evans, Lisa Kailai Han Organizations: UAW, General Motors Wentzville, General Motors, Ford, United Auto Workers began, Workers, CNBC, LSEG, PTC Therapeutics, Medicines Agency's, Medicinal Products, Arm, Investment, Bloomberg News, Apple, Dexcom, ASML Holding, Lam Research, Taiwan Semiconductor, Adobe, Bank of America, JPMorgan, Apellis Pharmaceuticals, Waste Systems Locations: Wentzville , Missouri, New Hampshire, Wells, underperform

☆ Instacart Set to Raise IPO Target Price After Arm's Successful Debut - WSJ
▼ + stars: | 2023-09-15 | by ( Sept. | At A.M. | ) www.usnews.com time to read: +1 min

(Reuters) -Grocery-delivery company Instacart is preparing to raise the target price for its initial public offering following the successful debut of SoftBank-owned Arm Holdings, the Wall Street Journal reported on Friday, citing sources. Instacart is now expected to sell shares for $28-$30 apiece, the Journal said, adding that the company plans to disclose the target price in an amended filing as early as Friday. Selling shares at the high end of the new range, Instacart would be valued at nearly $10 billion on a fully-diluted basis, according to the report. The reported increase in Instacart's target price for its initial share sale comes after shares in SoftBank's Arm 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). Instacart was valued at $39 billion after its last funding round more than two years ago, when easy money helped several startups reach sky-high valuations.

Persons: Instacart, Devika Nair, Mrigank Dhaniwala Organizations: Reuters, SoftBank, Arm Holdings, Wall Street, Nasdaq, U.S . Federal Reserve Locations: SoftBank's, San, Francisco, Bengaluru

☆ Stocks making the biggest moves premarket: Arm Holdings, GM, Ford, Adobe and more
▼ + stars: | 2023-09-15 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +3 min

General Motors assembly workers picket outside the General Motors Bowling Green plant during the United Auto Workers national strike in Bowling Green, Kentucky, October 10, 2019. Apellis Pharmaceuticals — The biopharmaceutical company climbed 3.5% before the open after Wells Fargo upgraded to overweight from equal weight. General Motors , Ford , Stellantis — GM and Ford fell less than 1% and Stellantis rose less than 1% after the United Auto Workers went on strike Thursday night. DoorDash — Shares of the food delivery company slid almost 3% premarket after MoffettNathanson downgraded DoorDash to market perform from outperform. Adobe — Shares fell 3.4% on the back of the company's fiscal third-quarter earnings report Thursday.

Persons: —, Piper Sandler, Piper, Morgan Stanley, Wells, Apellis, Stellantis, MoffettNathanson, Needham, Goldman Sachs, — CNBC's Brian Evans, Michelle Fox, Alex Harring, Hakyung Kim, Tanaya Macheel, Jesse Pound, Pia Singh Organizations: Motors, General Motors, United Auto Workers national, Pharmaceuticals, Ford, United Auto Workers, Unity, Bank of America, Arm, Nasdaq, JPMorgan, LSEG Locations: Bowling Green , Kentucky, — The Cleveland, DoorDash, British

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