Finance

United Wholesale Mortgage to go Public Through a Merger Deal

U.S based United Wholesale Mortgage LLC has announced that it will be going public through a merger deal with a special purpose acquisition company (SPAC) Gores Holdings IV Inc. (GHIV). This deal will value United Wholesale at $16.1 billion. SPAC’s are also referred to as blank check companies. Under the deal, United Wholesale will retain 94% […]

H&M Reports Better Than Expected Quarterly Profit

Swedish clothing retailer Hennes & Mauritz AB (STO: HM) popularly referred to as H&M reported its financials for the third quarter ending August 31 in which the company performed fairly better in relation to what analysts had estimated. In the quarter, H&M generated a before tax profit of 2 billion crowns ($229 million), even with […]

Goldman Sachs Participating in Ant’s Giant IPO Dubbed ‘World’s Largest IPO’

America based investment bank Goldman Sachs Inc. (GS) becomes the latest entry in the list of investment banks interested in participating in upcoming initial public offering of Chinese financial technology company Ant Group. Reliable insider sources are valuing the IPO at $30 billion making it the world’s ever largest IPO. Additionally the sources said the […]

Skillz to Get Listed Through Merger With Flying Eagle

Game developer Skillz Inc. is set to go public on New York Stock Exchange through a merger deal with a blank check company Flying Eagle Acquisition Corp. (FEAC) A blank check company is also known as a special purpose acquisition company (SPAC) and it uses cash fetched from its initial public offering to purchase another […]

Bumble Eyeing a $6 Billion Initial Public Offering

Virtue dating app Bumble has announced that it’s eyeing an initial public offering, sources involved with the matter revealed the company is looking forward to have a $6 billion to $8 billion market valuation after the IPO. According to the source, this Bumble is aiming to conduct its IPO during the first quarter next year […]

Zoom Raises its Annual Targets After Beating Quarterly Estimates

Technology company Zoom Video Communications Inc. (ZM) has increased its annual revenue and sales targets after comfortably beating analysts’ estimates in the second quarter of the year. The company raised its target for annual revenue by 30%. Zoom is now looking forward for revenue between $2.37 billion to $2.39 billion in the fiscal year 2021. […]

Xpeng Scales Up Its U.S IPO Size to $1.5 Billion

China based electric car manufacturer Xpeng (XPEV) has scaled up its initial public offering size in the U.S to around $1.49 billion. This has been revealed by insider sources who declined being revealed. Initially the company had targeted to raise $1.1 billion in the IPO. The company had planned to sell 85 million American Depository […]

J.Crew Expecting to Come Out of Bankruptcy in September

Multi-brand apparel and accessory retailer J.Crew Group says that it expects to come out of bankruptcy in the upcoming month. The company said a court accepted its debt restructuring plan hence it’s looking forward to emerge from chapter 11 bankruptcy in the beginning of next month. In the restructuring proposal approved by a Virginia federal […]

Nvidia Soar Above Analysts’ Estimates in Q2 Results

Nvidia Corp. (NVIDA) announced its results for the second quarter of the year in which the California based company registered better results than what analysts were expecting. This made it the second consecutive quarter Nvidia was outperforming analysts’ estimates. For the second quarter ending June 26, Nvidia generated revenue of $3.87 billion beating the analysts’ […]