Page 9 - Nasdaq

Nasdaq, S&P 500 edge higher as Amazon, Intel lift beaten-down megacaps

Core inflation which excludes volatile food and energy components rose 0.3%, meeting estimates

Instacart goes from supermarket to stock market, raising $660 mn with IPO

Instacart is heading from the supermarket to the stock market. The San Francisco-based grocery delivery company raised USD 660 million in its initial public offering of stock, selling 22 million shares at USD 30 apiece. Its shares were set to begin trading on Tuesday on the Nasdaq stock exchange under the stock symbol CART. The pricing of the IPO gave Instacart a market value of around USD 10 billion, significantly lower than the USD 39 billion value placed on it after a fund-raising round in 2021. Instacart provides delivery and pickup from 85 per cent of US grocers, or more than 80,000 stores, using a network of 600,000 freelance shoppers. It also provides in-store technology, like smart carts and electronic shelf tags, and sells online ads to food companies and retailers. It says it has 7.7 million active customers who spend about USD 317 per month on the platform. In a letter to investors earlier this month, Instacart CEO Fidji Simo said grocery delivery has tremendous potent

SoftBank's Arm eyes $62 billion valuation in likely stellar Nasdaq debut

Its stock opened at $56.1 per American Depositary Share compared with the initial public offering (IPO) price of $51, in a sign of confidence for other companies planning to list

SoftBank Group in talks to acquire Vision Fund's 25% stake in Arm

The discussions come as Softbank is preparing to list the chip designer on Nasdaq next month at a valuation of $60 billion to $70 billion

US recognises India's enormous intellectual capital: Policy expert Sowle

America recognises India's enormous intellectual capital, and integrating India with the manufacturing ecosystem in core sectors like semiconductor will be key, according to policy thinktank founder Guruprasad Sowle. He said that the US is no longer looking at India only as a destination for services. Sowle, who heads Indus International Research Foundation (IIRF), had met Prime Minister Narendra Modi during his state visit to the US in June. "Even if it means transfer of technology from US to India, gradually that will happen because there are certain technologies that America was not really forthcoming in terms of sharing but after this visit by the Prime Minister, there is a considerable shift towards manufacturing in India," Sowle said. He noted that there was a paradigm shift where the US is no longer seeing India only as a destination for services. "They are seeing India to step up in core sectors, especially aerospace and defence, automotive, healthcare, artificial intellig

2 senior execs of Freshworks quit after co-founder's exit in March

Company says new chief human resource officer will start work later in August and it looking for a chief marketing officer

Cognizant Q2 profit down 19.7%, retains 2023 revenue growth guidance

Chief Financial Officer Jan Siegmund to retire in early 2024 but plans to stay in his role until the company identifies a successor and transition is completed

Sebi's move to regulate index providers on hold; revised proposal on cards

A regulatory framework for index providers was cleared by Sebi's board at its meeting held in March. The regulator, however, is yet to notify changes

US big tech's dominance in stock market hits breakpoint for Nasdaq 100

The seemingly unstoppable growth of megacaps like Apple Inc. and Microsoft Corp. mean they have breached an upper limit imposed on stocks in the Nasdaq 100

Nasdaq ends up, dollar strengthens as Powell hints at more rate hikes

The S&P 500 ended essentially unchanged, while the blue-chip Dow Jones Industrial Average closed negative territory, weighed down by healthcare stocks

Nasdaq to acquire financial services software company Adenza for $10.5 bn

Nasdaq on Monday said it has acquired Adenza, a company that develops risk-management and related regulatory software for the financial services market, for $10.5 billion

Sensex ends 298 pts up, Nifty reclaims 18,200 led by Adani, auto, IT stocks

Stock Market Live on May 19, 2023: NTPC, Power Grid, Punjab National Bank, JSW Steel, Zomato, Glenmark Pharma and Delhivery will be on the radar ahead of their Q4 nos

Has the correlation between the Nifty IT index and the NASDAQ ended?

The gain in NASDAQ thus far in CY23 was largely fueled by Google, Apple, Amazon, Netflix and Meta Platforms - also known as the FAANG stocks.

NASDAQ-listed firm MakeMyTrip posts $5.4 million profit for Jan-Mar quarter

Online travel service provider MakeMyTrip Ltd on Tuesday reported a profit of USD 5.4 million in the fourth quarter ended March 31, 2023. The NASDAQ-listed firm had posted a loss of USD 4.1 million in the same quarter of the previous fiscal, MakeMyTrip Ltd said in a statement. Gross bookings in the fourth quarter were at USD 1,673.9 million as compared to USD 1,012.3 million, it added. Travel demand continues to be robust despite macroeconomic headwinds and Q4 being a seasonally slower quarter, the company said. For the fiscal ended March 31, 2023, the loss has reduced significantly to USD 11.2 million as compared to a loss of USD 45.6 million in FY22, it said. FY23 gross bookings stood at USD 6.6 billion as compared to USD 3.19 billion in FY22. "We witnessed robust recovery in travel demand with significant improvement in consumer sentiment during the fiscal year ended March 31, 2023," MakeMyTrip Group CEO Rajesh Magow said. He further said, "We are glad that our strategy of ..

US analytics firm ThoughtSpot 'acquihires' India's SagasIT Analytics

ThoughtSpot has invested $150 mn in India between 2022 and 2027, set up an 'excellence centre'

Wall Street drops as job gains fuel rate-hike worries; Nasdaq falls 1.2%

First Republic slips as bank suspends preferred stock dividend; semiconductor stocks up; Samsung plans to cut chip output

China's Nasdaq-style index of tech stocks is on a tear in 2023

The tech-heavy Star 50 Index has rallied 19% this year, beating the 5.8% advance in the benchmark CSI 300 Index and the 7.2% rise in the broader Shanghai Composite Index

ReNew repays more than $1 billion to offshore bondholders in FY23

The company in a public statement said that over the past financial year, it had refinanced $525 million in the domestic markets ahead of the March 2024 maturity

CPPIB exploring buying out ReNew Energy shareholders, making firm pvt

Canada Pension Plan Investment Board is exploring buying the shares of ReNew Energy Global Plc that it doesn't already own and taking the Nasdaq-listed firm private

Trading in First Republic, Signature Bank halted after SVB collapse

Wall Street mixed as investors weigh possible rate hike pause, bank contagion risks