The Chinese online retailer shares rose as much as 32% before closing at 11.61, valuing the company at $600 mil. LightInTheBox (LITB) priced its IPO of 8.3 mil ADRs at $9.50 each, raising about $78.8 mil. The IPO renewed interest in Chinese companies and LightInTheBox is the 1st to go public in the U.S. since the social media platform YY Inc. (YY) debuted in November.
In response to California's new $20 minimum wage law, fast food franchises are being forced to rethink their business strategies to stay afloat. Scott Rodrick, who owns 18 McDonald's franchises in the state, is considering measures to manage the increased labor costs without resorting to layoffs, which he sees as a last resort. Don't Miss: 82% of Americans aren’t using this government secured 5% passive income stream, are you one of them? The average American couple has saved this much money for
Sam Bankman-Fried has inked a settlement agreement with a group of FTX customers who have agreed to drop their class action lawsuit against him in exchange for his help going after celebrity promoters of the collapsed exchange.
Though this highflying stock is making Nancy Pelosi and her venture capitalist husband richer, more than a half-dozen billionaires have sent it to the chopping block.
A Reuters review of hundreds of tender documents shows 10 Chinese entities acquired advanced Nvidia chips embedded in server products made by Super Micro Computer Inc., Dell Technologies Inc. and Taiwan's Gigabyte Technology Co Ltd after the U.S. on Nov. 17 expanded the embargo to subject more chips and countries to licensing rules. Specifically, the servers contained some of Nvidia's most advanced chips, according to the previously unreported tenders fulfilled between Nov. 20 and Feb. 28.
Bank of America said Apple could announce a 5% dividend increase and $90 billion share buyback program when it releases earnings next week.
Here's what could happen next to Alphabet's shares.
Wall Street doesn’t get any credit for the move. There are no stock upgrades or price- target changes to cite.
The world's biggest chipmaker, which is a bellwether for the global semi producers, recently trimmed its industry-growth outlook.
There are many more companies beyond Nvidia that will see their stocks soar on the promise of AI, Goldman says.
Berkshire stock produced huge gains for decades. But what about the last five years?