1 hour ago
SoftBank stock falls slightly after Arm IPOs at $51 per share
Shares of Japanese investment holding company SoftBank fell slightly on Thursday after subsidiary Arm’s initial public offering price was $51 per share.
SoftBank shares fell as much as 2.17% in morning trading, but pared some of the decline later in the day.
At $51 per share, Arm’s fully diluted market capitalization, including outstanding restricted stock units, is worth more than $54 billion. Arm stock will begin trading on the Nasdaq on Thursday.
The UK-based company has at least 95.5 million American Depositary Shares listed on Nasdaq, and current owner SoftBank will control about 90% of the company’s outstanding shares.
1 hour ago
Australia’s unemployment rate remains stable in August, labor force participation rate rises
australia unemployment rate The growth in August was unchanged from the previous month at 3.7%, in line with economists’ forecasts compiled by Reuters.
The number of employed people rose by 64,900 in August from the previous month, as Australia’s labor force participation rate reached 67%, compared to a Reuters poll’s forecast of 66.7%.
— Lim Huijie
4 hours ago
CNBC Pro: Arm IPO: Should you buy the stock? Here’s what 4 analysts think
16 hours ago
August core inflation, excluding food and energy, was slightly higher than expected
Core CPI, which excludes food and energy, rose 0.3% in August from the previous month, slightly above the 0.2% rise expected by economists polled by Dow Jones. This figure increased by 4.3% year-on-year and was in line with expectations.
The composite index rose 0.6% last month, in line with Dow Jones expectations. Main prices rose 3.7% from a year earlier, beating economists’ expectations of 3.6%.
— Samantha Subin
4 hours ago
CNBC Pro: Goldman says these global stocks will skyrocket on buybacks, giving them more than 100% upside.
Analysts at Goldman Sachs say they expect European stocks to announce significant share buybacks by 2024, providing significant upside potential for stocks.
Stock buybacks essentially reduce the amount of shares in circulation and can increase their price. This is one of the many ways companies reward shareholders.
CNBC Pro subscribers can read more here.
— Amara Balakrishna
10 hours ago
Google is cutting hundreds of jobs in its hiring organization
See chart…
Alphabet stock 1 day
— Jennifer Elias, Sarah Min
15 hours ago
Gold hits multi-week low
On Wednesday, gold prices hit a three-week low.
The metal hit a session low of 1,927.2. This was the lowest level since August 23, when it hit 1,926.2.
— Alex Harring, Gina Francola
9 hours ago
Wall Street eyes Apple’s latest iPhone
Analysts see mostly bright spots in Apple’s announcement event on Tuesday, but one surprise could increase the risk of a revenue shortfall on the margins, one analyst said.
Read more about what Wall Street thinks about the latest news and what it means for stocks.
— Samantha Subin
