( SCHL): The publisher’s shares sank 14% after reporting a wider-than-expected loss and missing Wall Street’s sales estimates in the most recent quarter. ( F): The automaker’s shares rose more than 2% after it was spared in the United Auto Workers’ escalation of their strike against Detroit’s Big Three. ( AVGO): Shares gained more than 2% after Google yesterday denied reports that it is planning on dropping the chip company as a supplier.įord Motor Co. ( WDC): Shares of the data storage device maker rose 3% on reports it could be preparing to merge its flash memory business with Japan’s Kioxia Holdings.īroadcom Inc. Investors are looking beyond their first day to judge their success and, so far, things aren’t looking great. But these three debuts were supposed to usher in a flurry of IPO activity after 2022's drought. And Klaviyo, on its third day of trading, is down 2% to $33, modestly above its $30 IPO price.Īdmittedly, it's early and this week's been rough for most stocks. Instacart shares trade at $30, exactly its IPO price. Arm is trading just under its IPO price of $51. The problem: All three have given up almost all of those gains. Then-the cherry on top-marketing software firm Klaviyo ( KVYO) debuted Wednesday and closed 9% above its IPO price. The success of Instacart’s ( CART) IPO earlier this week, which closed 12% higher on its first day, gave investors more confidence. That was the takeaway when chip designer Arm Holdings ( ARM) debuted last week and soared 25% on its first day of trading. Markets have been abuzz with excitement the last two weeks: IPOs are back. Goldman Sachs ( GS) dropped 0.7% after it was fined $6 million by the Securities and Exchange Commission on changes it violated “blue sheet data” rules. regulators for its deal to acquire video game maker Activision Blizzard ( ATVI), which gained 1.8% on the news. Microsoft ( MSFT) shares fell nearly 0.8% despite winning preliminary approval from U.K. Shares of Intel ( INTC) fell by 1.4% after the European Union hit the chipmaker with a $400 million antitrust fine in a long-running legal fight. The Walt Disney Company ( DIS) dropped 1.8% after a two-day bout of “encouraging” negotiations with striking Hollywood writers ended without a deal. Shares of Chevron ( CVX) gained nearly 0.7% after workers at the company’s liquified natural gas (LNG) projects in Australia ended their strike after both the union and Chevron accepted terms proposed by the country’s industrial arbitrator.Īpple ( AAPL) shares gained about 0.5% on the release of its new iPhone 15 models, which went on sale in 40 countries around the world today.Ĭisco Systems ( CSCO) shares moved up about 0.4%, rebounding from losses it suffered yesterday after announcing it would buy cybersecurity software company Splunk ( SPLK). UnitedHealth Group ( UNH) gained 1% to be the top-performing component in the Dow 30 for the second consecutive session. It was the fourth-straight losing session for the Dow and brought its weekly return to -1.9%. The Dow Jones Industrial Average wasn’t able to hold on to early gains and lost 0.3%, or about 106 points, today. Stocks plummeted for the second straight day yesterday on concerns about future rate hikes and an unexpectedly small unemployment print. Overseas, Japanese stocks closed lower, while equities in China and the U.K. If Congress fails to pass a budget before then, up to 900,000 government workers could be furloughed in a government shutdown.īond yields retreated slightly Friday, but were still well above where they were before the Fed's rate decision Wednesday. The House of Representatives went on recess Friday after failing to pass a federal budget proposal or a resolution that would kick back the looming Sept. And the Nasdaq slipped 0.1% today to lose 3.6% this week. The S&P 500 fell 0.2% Friday to end the week 2.9% lower, its biggest weekly decline since the regional bank crisis in March. The Dow Jones Industrial Average led indexes lower, falling 0.3% to finish the week down 1.9%. inched closer to a government shutdown that could shock an already slowing economy. stocks had their worst week since March, with equities falling for a fourth straight session Friday as the U.S. 25, 2023): For today's live markets coverage, see here.
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