Finance

Huawei Reports Single Digit Growth in Q3 Results

China based tech giant Huawei Technologies Co Ltd announced its results for the third quarter registering a 3.7% growth in the quarter. This becomes the only quarter of the year the company failed to post double digit growth in its quarterly results. In a statement provided by the company, for the period January to September […]

Snap Beat Revenue and User Growth Estimates in Q3 Results

Social media and camera company Snap Inc. (SNAP) announced its results for the third quarter of the year ended September 30. The company said in this pandemic period more new users have been signing up to its messaging app Snapchat to chat with their family members and friends. In the third quarter, the company generated […]

IBM Surpasses Analysts’ Estimates in Third Quarter Results

U.S based Technology Company and cloud platform International Business Machine (IBM) posted its third quarter results fairly soaring above analysts’ revenue estimates in the quarter. The company attributed the good performance to high demand of its cloud business. According to IBM’s chief financial officer James Kavanaugh, there are some consumer behaviors which tend to work […]

Solar Company Array Technologies Raises $1 Billion from its IPO

Solar power equipment manufacturer Array Technologies conducted its initial public offering on October 14 raising $1.05 billion from it. Once the company goes public it will be trading under the ticker symbol ARRY in NASDAQ. The U.S based company priced its shares at $22 per share in the IPO selling 47.5 million shares hence fetching […]

Mallinckrodt Files for Chapter 11 Bankruptcy Amidst Lawsuits

Irish pharmaceutical company Mallinckrodt Plc. (MNK) filed for chapter 11 bankruptcy protection on October 12 with the U.S. Bankruptcy Court for the District Of Delaware. This filing comes at a time when the company is facing lawsuits alleging that it engineered opioid epidemic in the United States. Back in March, Mallinckrodt was ordered by the U.S […]

Dun & Bradstreet to Purchase Bisnode in a Deal Worth $812 Million

Provider of commercial data, analytics, and insights for businesses Dun & Bradstreet Holding Inc. (DNB) has announced that it will be purchasing Sweden based provider of marketing services and credit information to digital businesses Bisnode in a deal worth $812 million. In a statement, Dun & Bradstreet said it will be doing the acquisition through […]

Clover Health to go Public Through Merger with Social Capital Hedosophia

U.S based healthcare insurance company Clover Health will be going public through a merger with a blank check company Social Capital Hedosophia Holdings Corp in a deal worth $3.7 billion inclusive of debt. This year numerous companies have opted to go public through mergers with blank check companies also known as special purpose acquisition company […]

Sequoia Conducts its IPO in Brazil Raises $179 Million

Brazil based logistics and company Sequoia Solucoes Logisticas conducted an initial public offering in its home market on 5 October. According to Brazil’s market regulator the company fetched 1 billion reais ($179.39 million) in the IPO. In the IPO, the company priced its shares at 12.40 reais per share which was even lower than the […]

Airbnb Seeking to Raise $3 Billion From its Upcoming IPO

San Francisco based online vacation home renting platform Airbnb Inc. is intending to raise $3 billion from its initial public offering. The company had filed with regulators to go public in March however due to plunge caused by the pandemic especially in the travel and hospitality industry worldwide the company had no other option than to […]

Lonestar Files for Chapter 11 Bankruptcy

Independent oil and gas company Lonestar Resources Inc. (LONE) announced having filed for chapter 11 bankruptcy protection in the United States bankruptcy court for the southern district of Texas on 30 September. Mid-September the company had announced a restructuring support agreement with its largest shareholders which would see the company eliminate debt obligation and preferred […]