Arista Networks, a cloud networking equipment maker, soared 35% in its public debut. Arista priced shares at $43 and by mid-morning on Friday, the stock was trading at $58.
Zulily, the e-commerce brand known for discounted baby clothes, has seen its shares fall 30% on Wednesday. The company showed reduced margins and higher expenditures in its first quarter earnings.
After two lackluster weeks, the IPO market is looking to make a comeback, with nine companies expected to raise $1.2 billion in public offerings next week.
Alternative asset manager Ares Management went public today on the New York Stock Exchange. Following weak private equity earnings and a dismal IPO market, Ares shares fell 4% in their market debut.
The IPO boom is slowing down, with only three expected to raise $130 million this week.
FOXBusiness.com has obtained leaked documents that Uber is using to persuade investors to participate in its Uber China financing.
Stocks traded mostly lower on Friday after two days of record gains, capping off one of the most volatile weeks in stock market history. Late-stage startups, like Uber and Snapchat, which are valued based on their predicted values as public companies, could also be impacted by this turmoil.
Former Apple CEO John Sculley predicted that Apple will “reinvent television,” in an interview with FOXBusiness.com. He also voiced optimism about Apple Pay and explained why he does not wear an Apple Watch.
Obi Worldphone announced two smartphones on Wednesday, targeting fast growing markets in Asia, Africa and the Middle East. Former Apple CEO John Sculley co-founded Obi Worldphone and told FOXBusiness.com that he sees opportunity in the competitive smartphone landscape
The Dow is in midst of its most volatile week in history, as concerns over China continue to shake investor sentiment. With two averages in correction territory, some wonder if companies will wait to go public.