Market Watch

  • Grocery Outlet prices IPO at $22 a share, above high end of range
    on June 19, 2019 at 11:04 pm

    Grocery Outlet Holding Corp. announced late Wednesday it will price its initial public offering at $22 a share, well above the high end of its range. On Tuesday, the company hiked its expected range to $18 to $19 a share, from $15 to $17 a share. Grocery Outlet is offering 17,187,500 shares for sale, raising about $378 million. Shares of the California-based company, which has 323 stores across the West Coast and Pennsylvania, are expected to list on the Nasdaq under the ticker symbol "GO" starting Thursday.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news. […]

  • Canadian pot producer Canopy Growth details U.S. CBD plans after Acreage deal approval
    on June 19, 2019 at 10:27 pm

    Canopy Growth Corp. said late Wednesday that the company has U.S. operations related to hemp and cannabidiol, or CBD, in seven states and when at full capacity will cover more than 4,000 acres. Canopy Growth said that was the equivalent of 11,072 hockey rinks or nearly American 3,268 football fields. The company said that it was currently planting a mix of high-CBD hemp plants and industrialized hemp suitable for textiles, proteins and bioplastics. The update on its CBD operations arrived after the company announced that the landmark deal to acquire the right to buy U.S.-based weed producer Acreage Holdings Inc. for $3.4 billion in paper, pending the relaxation of U.S. federal prohibition on marijuana. Canopy Growth stock was up 0.8% in after hours trading. The stock closed up 1.74% during the regular session, as the S&P 500 index [spx] rose 0.3%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news. […]

  • Slack reference price set at $26 for non-IPO
    on June 19, 2019 at 9:45 pm

    Slack Technologies Inc. shares will have a reference price of $26, and are expected to begin trading Thursday morning on the exchange. Slack is listing its shares directly instead of performing an initial public offering, in which shares are priced for sale. Instead, a reference price is set for a direct listing, based on private placements and other factors, but the trading price can still be different. For example, when Spotify Technology SA entered the public markets through a direct listing, a reference price of $132 was set, but the stock opened at $165.90. Landing on an opening price seemed difficult in the Spotify listing, as shares did not begin trading till after midday, much later than typical for a company debuting after an IPO. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news. […]

  • Mnuchin says he wants to lift debt limit for a year if there's no spending deal
    on June 19, 2019 at 8:45 pm

    Treasury Secretary Steven Mnuchin said Wednesday the administration wants to suspend the federal debt limit for a year if there isn't an agreement with congressional leaders on spending caps. Mnuchin and other officials met with leaders including House Speaker Nancy Pelosi on spending limits that would head off another government shutdown in the fall. The Treasury chief reportedly said if there's no deal the White House proposes a yearlong stopgap budget that would renew government funding at the same levels, in addition to a one-year debt-limit suspension. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news. […]

  • U.S. trade regulator approves United Health, DaVita deal with condition
    on June 19, 2019 at 8:44 pm

    The Federal Trade Commission said late Wednesday UnitedHealth Group Inc. and DaVita Inc. have agreed to a settlement to resolve FTC allegations their $4.3 billion deal would stifle competition in the Las Vegas area. Under the proposed settlement, UnitedHealth would have 40 days to sell DaVita's healthcare provider in the Las Vegas region, known as HealthCare Partners of Nevada, to Intermountain Healthcare, a Utah-based healthcare provider and insurer. The acquisition was first announced in December 2017. UnitedHealth stock rose 0.6% and DaVita shares fell 0.1% in the extended session after ending the regular trading day up 1.8% and 3.1%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news. […]