In a down market, the company priced overnight at the high end of the range had been looking for between 20 and 29 a share, 26 and 29, priced at 29, raising 1. 1 billion, making it the seventh overall biggest deal this year to go public it has been a rough and tumble ride for unicorn brand name ipos, the Ride Hailing Companies lyft and uber struggled, lyft having seen a new low just yesterday. Slack also having seen a new low yesterday. Smile direct that went public two weeks ago seeing a new low, down 38 from its debut. Among the only ones of the big stellar names thats higher from its ipo is pinterest that one is up 45 the market continues to be ver cautious on these deals as they go forward the price at the top is certainly encouraging for the company and for the nasdaq which has seen a large number of ipos this year, some 50 ipos, raised more money initially than we have seen from the deals that they saw last year nonetheless, still one of those things people are watching as we see
In its life as a Public Company at least and the biggest u. S. Grocer m a deal ever. And for the purposes of our hour, which normally focus on tech, a nice intersection between an old, Old School Business and a new one. Its amazing. Just from a headline perspective and news that affects people, i cant remember a deal this big i mean, maybe aoltime warner, but you cant eat time warner. Its really a way of bringing things together unlike so many people who are this deal is amazing, i see a number of challenges, potential problems with this deal not necessarily getting consummated, but actually making it work. The logistics operation that you need to run a whole foods is way different from one that you need to distribute using ecommerce if i want cheerios and gatorade, whole foods doesnt sell that so how do you blend the whole foods operation for say produce with the stuff that most people eat yeah, i mean, how do you do all that and be successful while still running whole foods in a way
Expected to roll out a revised exec tifr order on immigration today. Well talk more about the economic impact. First up, stocks are looking to extend weekly winning streaks. The s p and nasdaq each up to six. The dow posting four straight weeks of gains since the bull market began about eight years ago today it has generated more than 21 trillion in new stock market wealth. In fact, today is the anniversary of the dows crisis low, 6,400 and change, of course the s p and haines bottom come in a couple of days. There were a lot of people believe the asset class tarnished back then and havent come back. There are a lot of people who believe that a return on a tenyear bond is acceptable. And there are very few people say, i got to put all my retirement money in the stock market because its actually hurts you. Its not like the old days where people feel that its a completely investable concept. So today, again, j. P. Morgan comes out, gives a bunch of reasons to stick with the reflation the
According to an aide. Wants a threemonth moratorium on student loan payments. A proposal to appeal to sanders supporters. Resident obama says u. S. Troop withdrawals from afghanistan will slow down. Take a listen. Instead of going down to troops by the end of this year, the United States will 8,400 in approximately troops in afghanistan into next year through the end of my administration. The president says security in afghanistane remains precarious and the taliban is a threat. Global news 24 hours a day owered by more than 2,600 journalists and analysts in more countries. This is bloomberg. Bloomberg west is next. This is bloomberg west. The titans are back in sun valley. Seel dig the idaho buzz and which deals could result. Who is taking a bite out of and well take a deep dive into china and the next. Trend, whats two allstar chinese tech Investors Join us for an in depth conversation. Coming, soergers are ays the former the consolidation is coming and also fears it will cause creat
Security in afghanistan remains precarious and the taliban is still a threat. Is next. West cory im cory johnson, and this is bloomberg west. Arens of tech and media back in sun valley. We will see which deals could result. Plus, another blow for apple. The Technology Giant suffering another lost in its biggest overseas market. We will find out what happened in china and who is taking a bite out of apple sales. And a deep dive in tech investing in china. Two allstar chinese tech Investors Join us for an indepth conversation. First to our lead. Forget winter, mergers are coming, or so said barry diller, who believes the consolidation is coming and also fears it will cause creativity to suffer. The executives among many attending the conference in sun. Alley, idaho you have been killing it. I have been to this conference a couple of times. It is sort of amazing, the giant heads of business and media tech business who gather there. Watched as folks came in yesterday and it is a broad swat