New york stock exchange. Twitter finally going public today, pricing 70 million shares, 26 each. Thats above the expected range of 23 to 25. Company will raise at least 1. 8 billion and trade under the ticker twtr. The ipo values twitter at 14, 18 billion that, number still to be determined. Well talk with twitter Ceo Dick Costolo right after the opening bell, a lot of other special interviews throughout the morning. Youve been tweeting. How meta is that about just how overallocated this is . I did just about ten minutes ago, speaking to a number of Hedge Fund Managers this morning, who all of course are disappointed in their allocations but not surprised. But for 2 million you get 5,000. You put in for 7,000, you get 10,000. But theyve also been providing color buy as you might expect the underwriter goldman sachs. Ive heard the deal is about 30 times oversubscribed, which is a nice amount. And that the top, you know, ten holders got 50 of the deal, the top 30 accounts got 75 and 300
Consolidation of the Beer Industry or at least stories to that effect. Apple reporting the biggest iphone presales ever. Supply problems raising concerns plus new insight into the companys cut of transactions with apple pay. And this friday alibaba now reportedly planning to boost the size of that already enormous public offering. All right. First up when david promises details, people listen. What do we have today . A great deal of talk over the weekend of beer consolidation. We had a story, of course, originally reported by bloomberg that sab approached heineken and said theyre not interested in that approach but this morning another story in the journal quoting a source familiar or close to the situation that there is financing being put together by ab to purchase s. A. B. According to my sources, that is not true. There is no talks with banks at this point. By ab inbev trying to put together any financing for s. A. B. Were no stranger to this story. The first rumors of this kind of
Work today after last nights win. The road map goes like this, earnings beat for citi top and bottom line. Stocks up sharply as the Bank Announces its settlement with the government, 7 billion for, quote, egregious mismanagement. Far from the only deal news, well have more on mylan, for example, in a moment. Markets in the green on this monday. Goldman raising forecast for the s p, as we gear up for that busy week of Economic Data. Apple, barclays back on board ahead of iphone launch. Sees a weaker samsung and a stronger tim cook. First up, citi group, reporting Second Quarter operating profit, 1. 24. Revenues above consensus. Citi taking the charge of 3. 8 billion in q2 in connection with the companys 7 billion settlement with the doj regarding Mortgage Securities sold ahead of the 2008 financial crisis. Trading revenue down 15. Not as bad, jim, david, as some expected. No. This was in contrast to wells fargo, expectations were so high going into the quarter, there really was a lot of
Welcome to the special veterans day edition of mad money where were saluting our troops and veterans for everything they have put on the line for this great country of ours and helping them not to mention you to try to make some money. Its my job, not to entertain you, but to educate you. So call me at 1800743cnbc. What the heck happened today . Whats with this big rally if we have a robust employment number . Could good news actually be, well, uh, good news . Could more employment actually drive the market higher . Hey, that was certainly the case today, wasnt i . With the dow gaining 168 points, s p climbing 1. 34 , and the nasdaq soaring 1. 6 and you know what . I find it welcome. For the last four years we have been conditioned to believe that good news means we lose the friendship and accommodation of the Federal Reserve of our nation, and we every time we return to growth mode its supposed to be bad. Its supposed to be bad for the stock market when we start hiring for people i. A
Tonight, im making an exception welcome to the special veterans day edition of mad money where were saluting our troops and veterans for everything they have put on the line for this great country of ours and helping them not to mention you to try to make some money. Its my job, not to entertain you, but to educate you. So call me at 1800743cnbc. What the heck happened today . Whats with this big rally if we have a robust employment number . Could good news actually be, well, uh, good news . Could more employment actually drive the market higher . Hey, that was certainly the case today, wasnt i . With the dow gaining 168 points, s p climbing 1. 34 , and the nasdaq soaring 1. 6 and you know what . I find it welcome. For the last four years we have been conditioned to believe that good news means we lose the friendship and accommodation of the Federal Reserve of our nation, and we every time we return to growth mode its supposed to be bad. Its supposed to be bad for the stock market when