Flipping good (sort of): Shake Shack shares up – after plummeting 60 per cent in a year – with expectation-beating results May 12, 2016 Shake Shack’s share price rose nearly four per cent in after-hours trading with the fast food company beating analysts’ expectations. The figures Shake Shack’s quarterly revenue was up 43.3 per cent to $54.2m (£37.5m), above an estimate of $52.06m, according to Street Insider. Meanwhile, earnings per share (EPS) in the first quarter hit $0.08, above expectations of [...]
London Stock Exchange and Deutsche Boerse deal: Robey Warshaw, Linklaters and Perella Weinberg among the big players working on the merger February 23, 2016 As the London Stock Exchange (LSE) and Deutsche Boerse hammer out the details of their potential merger, City A.M. takes a look at the bankers and other advisers trying to make the deal happen. Boutique banks are booming, and none more so than London-based Robey Warshaw. Co-founder Simon Robey may be a huge Arsenal fan, but was [...]
Old Mutual to sell stake in US asset manager June 9, 2015 OLD MUTUAL is preparing to sell a further stake in OM Asset Management (OMAM), the boutique asset manager it spun off in a float on the New York Stock Exchange last year. The Anglo-South African investment, savings, insurance and banking group, which is listed on the FTSE 100, yesterday said it would use the proceeds [...]
US stocks close higher despite bite from Apple – New York Report July 9, 2015 US STOCKS closed higher yesterday after Wall Street found relief in Beijing’s efforts to halt a rout in Chinese stocks, which lifted markets around the world. Shares of Apple bucked the market and logged their first five-day losing streak since January as investors worried that consumers in China might have less money to spend on [...]
Fitbit share price opens 55 per cent higher on stock market debut June 18, 2015 Shares in fitness tracking technology maker Fitbit opened 55 per cent higher at $30.40 as it launched its initial public offering today. The company made its debut on the New York Stock Exchange this morning at $20 per share under the ticket FIT, raising $732m. It is now valued at more than $4.1bn. You can [...]
Alibaba share price plummets on disappointing revenue figures August 12, 2015 Alibaba's share price is set for a continued slump after its revenue and sales growth came in weaker than expected in the first quarter. The figures The Chinese e-commerce company's stock opened over seven per cent down on the New York Stock Exchange this morning after it reported a 28 per cent increase in revenue [...]
Valeant Pharmaceuticals share price slumps by over 18 per cent as company reveals it’s under investigation by the SEC February 29, 2016 Shares in pharma firm Valeant have dropped by over 18 per cent in after hours trading after a Securities and Exchange Commission (SEC) investigation into the company was revealed. The SEC probe is separate from an existing investigation into a company purchased by Valeant last year, Salix Pharmaceuticals, according to a Bloomberg report. “Valeant confirms [...]
Fitbit share price jumps 52 per cent on market debut in New York June 18, 2015 Shares in wearable fitness gadget maker Fitbit surged 52 per cent in their stock market debut across the pond yesterday, valuing the firm at more than $4.1bn (£2.6bn). The shares, which are now traded on the New York Stock Exchange under the ticker FIT, were priced at $20 per share for the initial public [...]
Old Mutual to raise up to $268m in sale June 17, 2015 OLD MUTUAL yesterday increased the size of a forthcoming selldown of shares in its US money management, which could net the group $268m. The UK listed group floated the US unit, Old Mutual Asset Management (OM Asset Management), in New York last October at $14 a share. Old Mutual said yesterday it would sell 13.3m [...]
Fitbit has priced its shares for its IPO June 2, 2015 Exercise tracker startup Fitbit is pricing its shares at between $14 and $16 when it IPOs. The company behind the cult fitness device that measures an individual's activity, plans to offer nearly 22.4m shares from its Class A common stock, while shareholders are selling a further 7.5m of their Class B stock. Fitbit [...]