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Market Update

Klaviyo Inc decreased 1.7% to $32.21 after the company completed its initial public offering and sold 19.2 million shares at $30 each, 

The stock of the marketing software automation company opened at $36.75 and closed at $32.76, about 9% higher than its price.


21 Sep, 2023

 

Coty Inc increased 5.7% to $12.12 after the cosmetic company lifted its full-year 2024 outlook and said comparable sales to grow in the range between 8% and 10% from its previous estimate between 6% and 8%. 


20 Sep, 2023

 

Pinterest Inc rose 4.3% to $27.34 after the company forecasted annual revenue growth to accelerate following the slowdown in 2022 and 2023.

The company laid out its future plans in its first investor day On Tuesday. 


20 Sep, 2023

 

Instacart declined 4.3% to $32.65 on the second day of trading after the grocery delivery company priced its initial public offering at $30 a share and struggled to hold its early gains on the first day. 

The company sold 30 million shares in the public offering but all shares changed hands on the first day of trading, suggesting that stock may face more headwinds in the next few weeks. 


20 Sep, 2023

 

Walt Disney Co decreased 3.2% to $82.23 after the company said in a SEC filing that it plans to double its investment in theme parks and cruise business to $60 billion over the next decade.  


19 Sep, 2023

 

Maplebear Inc, parent of the delivery service provider Instacart, priced its initial public offering at $30 a share, at the upper end of its price range, and raise about $600 million.

The offering valued the company at $9.9 billion and and just days before PepsiCo agreed to invest $175 million in the delivery service company with an annual revenue of $2.5 billion in 2022 and net profit of $428 million. 


19 Sep, 2023

 

Rocket Lab USA Inc dropped 18% to $4.12 after the company's uncrewed launched failed in the early hours of Tuesday morning. 

The company confirmed that its 41st Electron rocket launch off the coast of New Zealand failed after two minutes and 30 seconds in flight carrying the Acadia 2 satellite for Capella Space based in San Francisco. 

The company also said it plans to postpone its next space launch and will revise lower its third quarter revenue outlook. 

Rocket Lab had 19 successful launches in a row since May 2021 and is now the second most active rocket launch company in the U.S., trailing only to Space X owned by Elon Musk. 


19 Sep, 2023

 

General Motors, Ford Motor Company and Stellantis NV were in focus after 12,700 United Auto Workers decided to strike at three key assembly plants asking for higher wages and other benefits. 

The union workers decided to strike at General Motors midsize truck manufacturing plan and full-size van production facility in Wentzville, Missouri. 

Workers also walked out at Jeep manufacturing plant in Toledo, Ohio and Ford Ranger midsize pickup and Bronco SUV manufacturing plant in Wayne, Michigan.

Workers also went on strike at Ford Ranger midsize pickup and Ford Bronco SUV plant in Wayne, Michigan and the Jeep assembly plant in Toledo, Ohio.

 


15 Sep, 2023

 

Arm Holdings increased 3.6% to $65.89 and extended gains for the second day in a row after the advanced chip design company priced its initial public offer at $51 a share and raised $4.9 billion. 


15 Sep, 2023

 

Nucor  Corporation declined 2.1% to $162.05 after the specialty steelmaker forecasted third quarter earnings to decline primarily because of lower prices and falling volumes. 

Nucor expects third quarter earnings per share to be in the range of $4.10 to $4.20 per diluted share, second quarter net earning was $5.81 and $6.50 in the third quarter of 2022.


15 Sep, 2023

 

Adobe Inc declined 3.5% to $533 after the graphic design software developer reported fiscal third quarter results that matched investor expectations. 


15 Sep, 2023

 

Delta Air Lines, Inc decreased 0.8% to $39.22 after the company joined other airlines and lowered its profit estimate citing higher operating and fuel costs. 

The airline said third quarter adjusted earnings per share to fall between $1.86 and $2.05 compared to the previous estimate between $2.20 and $2.50. 

The airline however raised its revenue growth estimate to be closer to its upper end of the range between 11% and 14%, because of the strong demand for transatlantic travel. 

The company also reiterated its full-year adjusted earnings per share to fall between $6 and $7. 


14 Sep, 2023

 

Semtech Corp jumped 4.6% to $23.90 after the company reported better-than-expected quarterly results and current quarter forecast. 

The company estimated fiscal third quarter revenue in the range between $190 million and $210 million and loss per share between 9 cents and 22 cents. 


14 Sep, 2023

 

AMC Entertainment Holdings Inc gained 3.3% to $8.52 after the company said it completed secondary stock offering announced few weeks ago. 

AMC raised $325.5 million through the sale of 40 million shares at an average price of $8.14. 


14 Sep, 2023

 

Spirit Airlines Inc dropped 3.3% to $16.70 after the discount carrier lowered its third quarter operating margin of as much as -15.5% from the previous estimate of between -5.5% and  -7.5%. 

The discount airline lowered its third quarter revenue range between $1.245 billion and $1.255 billion from the previous estimate between $1.30 billion and $1.32 billion. 


13 Sep, 2023