Bloomberg could be in for a showdown with Elizabeth Warren, whether he runs or not.2020 Electionsread more
As the season kicks into gear this week, S&P 500 firms are expected to report a 4.6% earnings decline over the same period a year agoEarningsread more
"The Champagne should probably be kept on ice, at least until the two presidents put pen to paper," said state-owned media China Daily.Traderead more
Bank of America says investors should still look to stocks for value rather than bonds.Investingread more
Wall Street analysts estimate GM has lost more than $1 billion due to the United Auto Workers' strike, which began Sept. 16.Autosread more
Check out the companies making headlines in midday trading:Market Insiderread more
Harley-Davidson has halted production and deliveries of its new LiveWire electric motorcycle after reportedly discovering a problem with its charging mechanism.Transportationread more
Uber has laid off about 350 employees across several teams within the organization.Technologyread more
"Both parties lose from the trade war, but the numbers suggest that the damage to the U.S. side is greater, in percentage terms," says the PAG chairman.China Economyread more
A passenger has complained to United Airlines after a fellow traveler was allowed to fly with a T-shirt that called for hanging journalists.Airlinesread more
"I fear that's what we're headed into" here in America, warns the former Treasury secretary.Economyread more
Sept 11 (Reuters) - Teeth alignment company's SmileDirectClub Inc on Wednesday priced its initial public offering at $23 per share, above its target range of $19-$22.
The online dentistry startup joins the wave of loss-making companies such as WeWork owner The We Company and food delivery platform Postmates Inc, planning to launch their IPOs, hoping that August's bout of stock market volatility will subside this month.
The company raised about $1.3 billion at a valuation of about $8.9 billion.
The Nashville, Tennessee-based company said it intends to use the IPO proceeds towards redeeming LLC units from its pre-IPO investors and fund a dividend to them and also pay bonuses and funding-related tax obligations.
The listing is a successful resumption of the U.S. IPO market after the Labor Day holiday in the United States at the start of September.
The company, which sells teeth aligners to customers directly through its website, reported a loss of $52.9 million on revenue of $373.5 million during the six months ended June 30, compared with loss of $33.8 million on revenue of $175.1 million a year earlier.
SmileDirectClub is due to start trading on the Nasdaq Global Select Market on Thursday under the symbol "SDC" and the offering is expected to close on Monday.
JP Morgan and Citigroup are serving as lead underwriters to the IPO. (Reporting by Saumya Sibi Joseph and Bharath Manjesh in Bengaluru and Joshua Franklin in New York, Editing by Sherry Jacob-Phillips)