StubHub will offer shares of Class A common stock and intends to list it on the New York Stock Exchange under the ticker “STUB.” The company didn’t disclose how many shares it intends to offer or at which price. JPMorgan Chase and Goldman Sachs Group are among the banks that are leading the offering.

In its filing, StubHub said it had $8.7 billion in Gross Merchandise Sales, which represents the total dollar value that its users paid for ticket transactions, in the past year. It also shared various other information including that it sold more than 40 million tickets, had more than one million unique sellers, and attracted customers from 200 countries.

StubHub unveiled plans for an IPO last year, but didn’t proceed due to “unfavorable market conditions.” It also mulled going public directly in 2022, valuing itself at $13 billion according to reports.

StubHub connects buyers and sellers of tickets for live events including sports games, concerts, theater performances, and more. It was founded in 2000 and was one of the fastest-growing private companies in the United States by 2006. A year later, eBay acquired the company for $310 million. It changed ownership once again in 2020, when competing platform Viagogo, started by StubHub’s co-founder Eric Baker, bought it for $4.05 billion.

The post Ticketing Marketplace StubHub Files for IPO, Reveals Revenue of $1.77 Billion in 2024 appeared first on theprimarymarket.com.

Last March, Unilever announced the intention to spin off its ice cream division as part of broader restructuring plans. It said the move would result in a “simpler, more focused company” while there is a belief the ice cream business would perform better as a standalone entity. Unilever added that it aims to complete the process by the end of 2025.

Bloomberg News’ source said that Unilever sees the NYSE as the best place for listing the ice cream business, considering the strong presence of brands like Ben & Jerry’s and Breyers in the United States. However, the company is also exploring other options, like stock exchanges in London and Amsterdam.  

Alternatively, Unilever could opt to list the ice cream unit on multiple exchanges at the same time. However, this path requires various considerations including market conditions, tax implications, and accounting challenges.

Unilever previously also explored selling the ice cream division at a valuation of $18.6 billion. However, it changed course by the end of 2024 and instead chose to spin it into a separate company. The ice cream business contributes 16% to the company’s overall revenue.

The post Unilever Considering Listing its Ice Cream Business on New York Stock Exchange appeared first on theprimarymarket.com.

According to NYSE, the move was made in order to meet the growing demand for US stocks. The plan is to have the NYSE Arca digital exchange open at 1:30 a.m. ET and close at 11:30 p.m. ET with all US-listed stocks, as well as exchange-traded funds (ETFs) and closed-end funds being open for trading.

“The NYSE’s initiative to extend US equity trading to 22 hours a day, 5 days a week underscores the strength of our US capital markets and growing demand for our listed securities around the world,” Kevin Tyrrell, head of markets at the New York Stock Exchange, said in a statement. “As the steward of the US capital markets, the NYSE is pleased to lead the way in enabling exchange-based trading for our U.S.-listed companies and funds to investors in time zones across the globe.”

Currently, the regular trading at NYSE takes place between 9:30 a.m. ET and 4:00 p.m. ET, while NYSE Arca is open from 4 a.m. ET until 8 p.m. ET.

Previously, trading platforms like Robinhood and Interactive Brokers enabled their users to trade stocks 24/7 on weekdays.

The post New York Stock Exchange Plans to Extend After-Hours Trading appeared first on theprimarymarket.com.

With inflation data for September coming in hotter than expected, traders are now anticipating the Federal Reserve’s next move, especially after introducing a half-percentage point cut in September. “The Fed said the last mile getting toward their inflation target is going to be tough, and that is what we are seeing,” David Donabedian from CIBC Private Wealth US observed.

Markets are pricing in an 80% chance that the Fed will cut interest rates by another 25 basis points at its November policy meeting. Despite hotter-than-expected September inflation figures, Fed policymakers, including Austan Goolsbee and John Williams, insist that interest rate cuts may still be able to continue despite an unexpected inflation rise.

The post Stocks Hold Steady as Traders Await Earnings Data and Fed Policy appeared first on theprimarymarket.com.

Contracts on the S&P 500 slipped by 0.3%, while futures on the tech-heavy Nasdaq 100 slumped by 0.5%. Futures on the Dow Jones Industrial Average fell by 0.2%. Across the pond, the Europe Stoxx 600 index remained relatively unchanged.

Investors are awaiting the minutes from the latest Federal Reserve policy meeting which are set to be released later on Wednesday. This will be followed by the latest US Consumer Price Index report on Thursday. While observers are on the lookout for signs of a potential interest rate cut by the central bank, Fed Bank of Boston President Susan Collins warned that rate cuts will need to be carefully considered on the back of sufficient data-driven evidence.

The post U.S. Futures Lose Ground Amid Google Antitrust Case appeared first on theprimarymarket.com.

Chipmaking giant Nvidia was one of the big winners during the trading session, with its stock gaining 4%, while “Magnificent Seven” stocks Amazon, Apple, and Google parent company Alphabet Inc posted gains as well.

In contrast, oil prices retreated as tensions in the Middle East appeared to somewhat ease over the past few days in relation to earlier in October. The price of oil was also affected by China’s failure to roll out a large stimulus package that was widely anticipated by investors.

As a result of the increasingly favorable economic outlook, New York Federal Reserve President John Williams claimed that the Fed’s policy is “well positioned” to take the economy on the right track.

The post U.S. Stocks Rise Amid Nvidia Boom appeared first on theprimarymarket.com.

Blue-chip Dow Jones Industrial Average managed to reach another record close at 42,313.00 points after 0.33% or 137.89 points gain. The index finished the week with 0.60% or 252.60 points gain.

On the other hand, the benchmark S&P 500 and tech-heavy Nasdaq Composite were both in the red on Friday. S&P 500 lost 0.13% or 7.20 points to close at 5,738.17, although it was coming from an all-time record on Thursday and is 0.46% up for the week.

Nasdaq was down to 18,119.59 close after sliding 0.4% or 70.70 points on Friday, a result of weak performance by ship stocks. Still, it recorded the highest weekly gain of all three major indexes, finishing the week up 0.69%.

The winning week for stocks was likely prompted by the increased confidence in the economy after the latest data showed an annualized growth of 3% in the second quarter, which was above analysts’ expectations.

Additionally, 218,000 unemployment claims were filed last week compared to an estimated 223,000, while the Customer Department’s recent report showed that the inflation is on the path of further cooldown.

The post U.S. Stocks Wrap Up the Week With Gains Despite Mixed Trading on Friday appeared first on theprimarymarket.com.

Until now, stock exchanges have priced stocks in increments, also known as tick size, of one cent. This placed them at a disadvantage to off-exchange trading establishments, which have the ability to price securities with much lower increments.

SEC unanimously approved the change, saying it would benefit the traders by increasing transparency, reducing transaction costs, and improving market quality. The change will affect approximately 2,400 securities, including most of the S&P 500 listings and the majority of the highly-traded stocks. 

The stock pricing adjustment is part of broader changes that the SEC proposed in 2022 in efforts to overhaul the market structure.

 “The reforms we adopted today will help promote greater transparency, competition, fairness, and efficiency in our $55 trillion equity markets. That goes to the heart of the SEC’s mission. The reforms are pro-investors. They are pro-capital formation,” said SEC Chair Gary Gensler in a statement.

Still, don’t expect to see any difference in how the stock prices are quoted anytime soon. Due to the scope of the change, it will likely take a year or even more for it to come into effect.

The post SEC Approves Half-Penny Stock Pricing appeared first on theprimarymarket.com.

Tech-heavy Nasdaq Composite rose by 0.65% or 114.30 points to close at 17,683.98. This was the fifth consecutive winning day for the index and brought its weekly gains to 5.04%, marking its best week of 2024.

Benchmark S&P 500 closed at 5,626.02 after a 0.54% or 30.26 points gain, while blue-chip Dow Jones Industrial Average soared by 0.72% or 297.01 points for a 41,393.78 close. S&P 500 is up 3.38% for the week, while Dow Jones recorded a gain of 2.07%.

The US stock rally has been largely attributed to the expectations that the Fed will make a 50 basis points rate cut instead of the previously estimated 25 basis points. According to CME’s FedWatch, 45% of the traders are betting on a 50 basis points cut, while 55% are pricing a 25 basis points cut.

 “I think there’s a strong case for 50,” William Dudley, former New York Fed President, said on Friday. “I know what I’d be pushing for.”

The Fed is expected to announce the changes to its policy at the upcoming meeting on September 18.

The post U.S. Stocks Have a Strong End of the Week Amid Expectations of Bigger Rate Cut By the Fed appeared first on theprimarymarket.com.

In the week prior, the stock recorded its worst week since 2023, with the fall being influenced by the jobs report for August, which left a number of key questions unresolved. The investors believed there was little to read into regarding the level of aggressiveness that the Federal Reserve will have in its interest rate cuts at the upcoming September meeting and engaged in a heavy sell-off.

The stocks in the financial, industrial, and energy sectors were the biggest risers, while the Magnificent Seven stocks also recorded significant jumps. Chipmaker Nvidia’s stock went up by 3.54%, shares of electric vehicle maker Tesla rose by 2.63%, while e-commerce giant Amazon saw its stock record a 2.34% jump.

The S&P 500 closed at 5,471.05 after a 1.16% or 62.63 points gain on Monday. The Dow Jones soared by 1.2% or 484.18 points to close at 40,829.59, while the Nasdaq went up by 1.16% or 193.77 points to close at 16,884.60.

Whether stocks continue their rally will be determined by inflation data, which are expected to be released on Wednesday. Investors hope the report will give them more clues about whether the Fed will cut rates by 25 or 50 basis points.

The post U.S. Stocks Rebound After a Disastrous Week appeared first on theprimarymarket.com.

StubHub will offer shares of Class A common stock and intends to list it on the New York Stock Exchange under the ticker “STUB.” The company didn’t disclose how many shares it intends to offer or at which price. JPMorgan Chase and Goldman Sachs Group are among the banks that are leading the offering.

In its filing, StubHub said it had $8.7 billion in Gross Merchandise Sales, which represents the total dollar value that its users paid for ticket transactions, in the past year. It also shared various other information including that it sold more than 40 million tickets, had more than one million unique sellers, and attracted customers from 200 countries.

StubHub unveiled plans for an IPO last year, but didn’t proceed due to “unfavorable market conditions.” It also mulled going public directly in 2022, valuing itself at $13 billion according to reports.

StubHub connects buyers and sellers of tickets for live events including sports games, concerts, theater performances, and more. It was founded in 2000 and was one of the fastest-growing private companies in the United States by 2006. A year later, eBay acquired the company for $310 million. It changed ownership once again in 2020, when competing platform Viagogo, started by StubHub’s co-founder Eric Baker, bought it for $4.05 billion.

The post Ticketing Marketplace StubHub Files for IPO, Reveals Revenue of $1.77 Billion in 2024 appeared first on theprimarymarket.com.

Last March, Unilever announced the intention to spin off its ice cream division as part of broader restructuring plans. It said the move would result in a “simpler, more focused company” while there is a belief the ice cream business would perform better as a standalone entity. Unilever added that it aims to complete the process by the end of 2025.

Bloomberg News’ source said that Unilever sees the NYSE as the best place for listing the ice cream business, considering the strong presence of brands like Ben & Jerry’s and Breyers in the United States. However, the company is also exploring other options, like stock exchanges in London and Amsterdam.  

Alternatively, Unilever could opt to list the ice cream unit on multiple exchanges at the same time. However, this path requires various considerations including market conditions, tax implications, and accounting challenges.

Unilever previously also explored selling the ice cream division at a valuation of $18.6 billion. However, it changed course by the end of 2024 and instead chose to spin it into a separate company. The ice cream business contributes 16% to the company’s overall revenue.

The post Unilever Considering Listing its Ice Cream Business on New York Stock Exchange appeared first on theprimarymarket.com.

According to NYSE, the move was made in order to meet the growing demand for US stocks. The plan is to have the NYSE Arca digital exchange open at 1:30 a.m. ET and close at 11:30 p.m. ET with all US-listed stocks, as well as exchange-traded funds (ETFs) and closed-end funds being open for trading.

“The NYSE’s initiative to extend US equity trading to 22 hours a day, 5 days a week underscores the strength of our US capital markets and growing demand for our listed securities around the world,” Kevin Tyrrell, head of markets at the New York Stock Exchange, said in a statement. “As the steward of the US capital markets, the NYSE is pleased to lead the way in enabling exchange-based trading for our U.S.-listed companies and funds to investors in time zones across the globe.”

Currently, the regular trading at NYSE takes place between 9:30 a.m. ET and 4:00 p.m. ET, while NYSE Arca is open from 4 a.m. ET until 8 p.m. ET.

Previously, trading platforms like Robinhood and Interactive Brokers enabled their users to trade stocks 24/7 on weekdays.

The post New York Stock Exchange Plans to Extend After-Hours Trading appeared first on theprimarymarket.com.

With inflation data for September coming in hotter than expected, traders are now anticipating the Federal Reserve’s next move, especially after introducing a half-percentage point cut in September. “The Fed said the last mile getting toward their inflation target is going to be tough, and that is what we are seeing,” David Donabedian from CIBC Private Wealth US observed.

Markets are pricing in an 80% chance that the Fed will cut interest rates by another 25 basis points at its November policy meeting. Despite hotter-than-expected September inflation figures, Fed policymakers, including Austan Goolsbee and John Williams, insist that interest rate cuts may still be able to continue despite an unexpected inflation rise.

The post Stocks Hold Steady as Traders Await Earnings Data and Fed Policy appeared first on theprimarymarket.com.

Contracts on the S&P 500 slipped by 0.3%, while futures on the tech-heavy Nasdaq 100 slumped by 0.5%. Futures on the Dow Jones Industrial Average fell by 0.2%. Across the pond, the Europe Stoxx 600 index remained relatively unchanged.

Investors are awaiting the minutes from the latest Federal Reserve policy meeting which are set to be released later on Wednesday. This will be followed by the latest US Consumer Price Index report on Thursday. While observers are on the lookout for signs of a potential interest rate cut by the central bank, Fed Bank of Boston President Susan Collins warned that rate cuts will need to be carefully considered on the back of sufficient data-driven evidence.

The post U.S. Futures Lose Ground Amid Google Antitrust Case appeared first on theprimarymarket.com.

Chipmaking giant Nvidia was one of the big winners during the trading session, with its stock gaining 4%, while “Magnificent Seven” stocks Amazon, Apple, and Google parent company Alphabet Inc posted gains as well.

In contrast, oil prices retreated as tensions in the Middle East appeared to somewhat ease over the past few days in relation to earlier in October. The price of oil was also affected by China’s failure to roll out a large stimulus package that was widely anticipated by investors.

As a result of the increasingly favorable economic outlook, New York Federal Reserve President John Williams claimed that the Fed’s policy is “well positioned” to take the economy on the right track.

The post U.S. Stocks Rise Amid Nvidia Boom appeared first on theprimarymarket.com.

Blue-chip Dow Jones Industrial Average managed to reach another record close at 42,313.00 points after 0.33% or 137.89 points gain. The index finished the week with 0.60% or 252.60 points gain.

On the other hand, the benchmark S&P 500 and tech-heavy Nasdaq Composite were both in the red on Friday. S&P 500 lost 0.13% or 7.20 points to close at 5,738.17, although it was coming from an all-time record on Thursday and is 0.46% up for the week.

Nasdaq was down to 18,119.59 close after sliding 0.4% or 70.70 points on Friday, a result of weak performance by ship stocks. Still, it recorded the highest weekly gain of all three major indexes, finishing the week up 0.69%.

The winning week for stocks was likely prompted by the increased confidence in the economy after the latest data showed an annualized growth of 3% in the second quarter, which was above analysts’ expectations.

Additionally, 218,000 unemployment claims were filed last week compared to an estimated 223,000, while the Customer Department’s recent report showed that the inflation is on the path of further cooldown.

The post U.S. Stocks Wrap Up the Week With Gains Despite Mixed Trading on Friday appeared first on theprimarymarket.com.

Until now, stock exchanges have priced stocks in increments, also known as tick size, of one cent. This placed them at a disadvantage to off-exchange trading establishments, which have the ability to price securities with much lower increments.

SEC unanimously approved the change, saying it would benefit the traders by increasing transparency, reducing transaction costs, and improving market quality. The change will affect approximately 2,400 securities, including most of the S&P 500 listings and the majority of the highly-traded stocks. 

The stock pricing adjustment is part of broader changes that the SEC proposed in 2022 in efforts to overhaul the market structure.

 “The reforms we adopted today will help promote greater transparency, competition, fairness, and efficiency in our $55 trillion equity markets. That goes to the heart of the SEC’s mission. The reforms are pro-investors. They are pro-capital formation,” said SEC Chair Gary Gensler in a statement.

Still, don’t expect to see any difference in how the stock prices are quoted anytime soon. Due to the scope of the change, it will likely take a year or even more for it to come into effect.

The post SEC Approves Half-Penny Stock Pricing appeared first on theprimarymarket.com.

Tech-heavy Nasdaq Composite rose by 0.65% or 114.30 points to close at 17,683.98. This was the fifth consecutive winning day for the index and brought its weekly gains to 5.04%, marking its best week of 2024.

Benchmark S&P 500 closed at 5,626.02 after a 0.54% or 30.26 points gain, while blue-chip Dow Jones Industrial Average soared by 0.72% or 297.01 points for a 41,393.78 close. S&P 500 is up 3.38% for the week, while Dow Jones recorded a gain of 2.07%.

The US stock rally has been largely attributed to the expectations that the Fed will make a 50 basis points rate cut instead of the previously estimated 25 basis points. According to CME’s FedWatch, 45% of the traders are betting on a 50 basis points cut, while 55% are pricing a 25 basis points cut.

 “I think there’s a strong case for 50,” William Dudley, former New York Fed President, said on Friday. “I know what I’d be pushing for.”

The Fed is expected to announce the changes to its policy at the upcoming meeting on September 18.

The post U.S. Stocks Have a Strong End of the Week Amid Expectations of Bigger Rate Cut By the Fed appeared first on theprimarymarket.com.

In the week prior, the stock recorded its worst week since 2023, with the fall being influenced by the jobs report for August, which left a number of key questions unresolved. The investors believed there was little to read into regarding the level of aggressiveness that the Federal Reserve will have in its interest rate cuts at the upcoming September meeting and engaged in a heavy sell-off.

The stocks in the financial, industrial, and energy sectors were the biggest risers, while the Magnificent Seven stocks also recorded significant jumps. Chipmaker Nvidia’s stock went up by 3.54%, shares of electric vehicle maker Tesla rose by 2.63%, while e-commerce giant Amazon saw its stock record a 2.34% jump.

The S&P 500 closed at 5,471.05 after a 1.16% or 62.63 points gain on Monday. The Dow Jones soared by 1.2% or 484.18 points to close at 40,829.59, while the Nasdaq went up by 1.16% or 193.77 points to close at 16,884.60.

Whether stocks continue their rally will be determined by inflation data, which are expected to be released on Wednesday. Investors hope the report will give them more clues about whether the Fed will cut rates by 25 or 50 basis points.

The post U.S. Stocks Rebound After a Disastrous Week appeared first on theprimarymarket.com.