Good thursday morning. Welcome to squawk alley. With Morgan Brennan and jon fortt at the New York Stock Exchange we watch the markets being whipped by some of the trade headlines. We also have two big ipos in focus today as well. We await the first trade of smile direct club. Lets bring in bob pisani to talk about that and overall iep landscape. We heard valuation is not there, does this mean the ipo market is overrated. Slack, first earnings report, growth wasnt as strong as people thought, not a good idea, growth is not as strong. Some software companies, now theres jitteriness. This week we had three big names, all being upsized waiting for smile direct to open 19 to 22 pricing at 23 looks like and ten x genomics. Upped it to 38 it opened at 54 talking little more than a week ago, 31 to 35. We open at 55 a gene sequencing company, biotech is a hot space overall we wait tomorrow for cloud fair. Another software company, out there, Website Security and other things, was 10 to 12, 35 m
Forecast to 2. 1 in 2017, down twotenths percent from earlier estimates. Theyre trimming next years Growth Outlook as well fiscal policy will be less expansionary than expected they expect fwrogrowth in china, japan. Happening now, opec and nonopec ministers gathered in russia to discuss Global Oil Output speculation swirling they could ask libya and nigeria to join in on production cuts both those nations are exempt from a deal to cap output. We have much more on the meeting later in the show. Not Much Movement in the energy markets. In corporate news, kkr nearing a deal for web md. They have had a five month auction to be bought they solicited bids interest more than 100 companies and firms since february the price is unclear as of close, they had market cap 2. 1 billion. Put in some symptom you have, and then you find yourself falling into a web of web md leads to self medication, which is not good for anybody. It is good it is out there. Before you couldnt find the stuff. You go to
And the communities they run, restrictions are beginning to lift in response to this reality. Life is returning to normal for them. Many other politicians seem gravely disappointed by this development. Seeing americans live freely for the first time in months, enrages them. It means their own power is dissipating, slipping away. They stamp their feet and frustration as they watched, they pour their venom onto social media. They loved this pandemic, this tragedy come every sad minutes of it. It made them feel indispensable, armed sent like gods. They desperately dont want to and from other saying that out loud. You may find their attitude baffling because of course the rest of us will return to life, its the greatest possible blessing. Weve a lot to look forward to. That doesnt mean we should forget what happened and how, we shouldnt forget, we should remember. As we do remember we should work to prevent it from ever happening again and that means being very clear about how this began.
UBS Group Cuts 10x Genomics (NASDAQ:TXG) Price Target to $30.00 theenterpriseleader.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theenterpriseleader.com Daily Mail and Mail on Sunday newspapers.
10x Genomics (NASDAQ:TXG – Free Report) had its target price lowered by Canaccord Genuity Group from $65.00 to $50.00 in a report released on Monday, Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock. Several other equities analysts have also recently commented on TXG. Deutsche Bank Aktiengesellschaft decreased their price target […]