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US stocks erase some of the ground lost last week as retail sales pick up; Citi gains Hot IPO market may face cooler reception as stock swings make investors nervous Chinese state companies by GlencoreXstrata copper mine in Peru for $5.85 billion Aspen Insurance rejects Endurance Specialty's offer to buy it for about $3.2 billion US retail sales jump 1.1 percent in March, best showing in 18 months, led by auto sales Google buys Titan Aerospace, maker of atmospheric satellites US businesses boosted stockpiles by 0.4 percent in February as sales rose sharply Netflix's payments to Comcast produce fastest video-streaming speeds in 17 months Asia's taxi-app wars heat up as Uber's big push into region meets local lookalikes TIAA-CREF reaches deal to acquire Nuveen Investments for $6.25 B including debt
HONG KONG— China's WH Group, which became the world's biggest pork company after buying Smithfield Foods of the U.S. last year, said Monday it plans to raise up to $5.3 billion in an initial public offering on the Hong Kong Stock Exchange.
WH Group and some of its shareholders launched an up to $5.3 billion initial public offering in Hong Kong last week, the second-biggest ever listing by a food and beverage company. Yang Zhijun, an executive director in charge of investment, merger and acquisitions and financing for WH Group, was issued another 245.6 million ordinary shares.
April 11- Ally Financial Inc wanted the U.S. government sell its entire 36.8 percent stake in the auto lender on Thursday, but the IPO market wouldn't cooperate so it had to settle for less.
Of the three, eatery chain Zoe's Kitchen had the largest gain. Shares of pasta chain Noodles& Co. are up 97 percent since the stock started trading at $18 in June. Zoe's Kitchen raised $87.5 million after pricing more than 5.8 million shares at $15 per share, at the middle of its expected range between $13 per share and $15 per share.
DETROIT— Shares of General Motors Co. sank to a 10- month low Friday amid continuing fallout from a mishandled recall of 2.6 million small cars. The stock fell $1.37, or 4.1 percent, to close at $31.93, with most of the decline in the middle of the afternoon.
CNBC's Bob Pisani reports several IPO's have been postponed, including Paycom Software, who is supposed to ring the closing bell today.
More than a dozen companies were lined up to go public this week but four, including Lombard Medical and Stalwart Tankers, failed to price on Thursday. Zoe's Kitchen raised about $87.5 million after its IPO of 5.83 million shares was priced at $15, the upper-end of the expected price range.
Kevin Miles, Zoës Kitchen CEO, discusses the company's growth concept and plans for expansion. The company currently has 111 restaurants in 15 states.
April 11- Shares of Zoe's Kitchen Inc rose as much as 73 percent in their market debut, valuing the casual dining restaurant chain at more than $475 million. Zoe's Kitchen raised about $87.5 million from the offering, after its initial public offering of 5.83 million shares was priced at the upper-end of the expected price range.
CNBC's Jim Cramer and David Faber discuss yesterday's severe market sell-off and weakness in momentum stocks in part due to the heavy IPO market.
I think a lot of it had to do with pricing concerns over Gilead's Sovaldi, says Jason Kolbert, Maxim Group, sharing his thoughts on the future of the biotech sector and pending IPOs.
April 10- Phibro Animal Health Corp's initial public offering was priced at $15 per share, an underwriter said, below its expected price range of $16- $18 per share. Backed by UK private equity firm 3 i Group Plc, Teaneck, New Jersey- based Phibro is selling 7.352 million shares in the offering.
April 10- Zoe's Kitchen Inc priced its initial public offering at $15 on Thursday, valuing the Mediterranean-style restaurant chain at about $276 million. The company earlier this week expected the IPO to be priced between $13 and $15 per share. Birmingham, Alabama- based Zoe's Kitchen is selling all the shares in the offering.
DETROIT, April 10- Investors' concerns about ongoing turmoil at General Motors Co, linked to the deaths of at least 13 people, could push the automaker's shares below GM's $33 IPO price for the first time since last June. The stock last dropped below $33 on June 28 last year.
April 10- Shares of auto-lender Ally Financial Inc fell as much as 4.1 percent in their market debut on Thursday, taking the shine off the biggest U.S. initial public offering so far this year as investor appetite for big stock offerings shows signs of waning.
Auto-lender Ally Financial's debut didn't receive a kind welcome from the market.
NEW YORK— Shares of Adamas Pharmaceuticals wavered Thursday after the drug developer's initial public offering raised $48 million. The offering of 3 million shares priced at $16 each, the low end of an expected range of $16 to $18. The stock rose as much as $1.24, or 7.8 percent, in morning trading but later declined 25 cents to $15.75.
Billion-dollar valuations and mega-rounds are just a few of the signs that a tech bubble may be forming.
Ally Financial is debuting on Wall Street. Michael Carpenter, Ally CEO, discusses the company's IPO pricing range and why the bank chose to go public and not sell.