Pinterest soars after beating expectations across the board

Pinterest soars after beating expectations across the board2 Hours AgoCNBC’s Julia Boorstin join “Closing Bell” to report the latest from Pinterest’s quarterly earnings.


Pinterest soars after beating expectations across the board2 Hours AgoCNBC’s Julia Boorstin join “Closing Bell” to report the latest from Pinterest’s quarterly earnings.
Pinterest soars after beating expectations across the board Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: brendan mcdermid
Keywords: news, cnbc, companies, board, latest, hours, quarterly, beating, expectations, pinterest, pinterests, julia, soars, report, join


Pinterest soars after beating expectations across the board

Pinterest soars after beating expectations across the board

2 Hours Ago

CNBC’s Julia Boorstin join “Closing Bell” to report the latest from Pinterest’s quarterly earnings.


Company: cnbc, Activity: cnbc, Date: 2019-08-01  Authors: brendan mcdermid
Keywords: news, cnbc, companies, board, latest, hours, quarterly, beating, expectations, pinterest, pinterests, julia, soars, report, join


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Here are the details of the multimillion-dollar Equifax settlement

Here are the details of the multimillion-dollar Equifax settlement8:10 AM ET Mon, 22 July 2019Credit-reporting company Equifax will pay a multimillion-dollar settlement to resolve investigations with state and federal regulators. CNBC’s Kayla Tausche reports.


Here are the details of the multimillion-dollar Equifax settlement8:10 AM ET Mon, 22 July 2019Credit-reporting company Equifax will pay a multimillion-dollar settlement to resolve investigations with state and federal regulators. CNBC’s Kayla Tausche reports.
Here are the details of the multimillion-dollar Equifax settlement Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: brendan mcdermid
Keywords: news, cnbc, companies, details, regulators, pay, tausche, settlement810, resolve, reports, multimilliondollar, settlement, state, equifax


Here are the details of the multimillion-dollar Equifax settlement

Here are the details of the multimillion-dollar Equifax settlement

8:10 AM ET Mon, 22 July 2019

Credit-reporting company Equifax will pay a multimillion-dollar settlement to resolve investigations with state and federal regulators. CNBC’s Kayla Tausche reports.


Company: cnbc, Activity: cnbc, Date: 2019-07-22  Authors: brendan mcdermid
Keywords: news, cnbc, companies, details, regulators, pay, tausche, settlement810, resolve, reports, multimilliondollar, settlement, state, equifax


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Cramer Remix: Stick with this beverage stock for the long term

The stock is up nearly 4% from its April 16 close, a day before it delivered better-than-expected first quarter results. The food and beverage giant, which includes brands such as Frito-Lay, Gatorade, Pepsi-Cola, and Tropicana, has spent money to turn its business around and their plan is working, Cramer said. The company also recorded profit of 97 cents per share and revenue of $12.88 billion, which topped expectations of 92 cents per share and $12.70 billion revenue. PepsiCo maintained its ful


The stock is up nearly 4% from its April 16 close, a day before it delivered better-than-expected first quarter results. The food and beverage giant, which includes brands such as Frito-Lay, Gatorade, Pepsi-Cola, and Tropicana, has spent money to turn its business around and their plan is working, Cramer said. The company also recorded profit of 97 cents per share and revenue of $12.88 billion, which topped expectations of 92 cents per share and $12.70 billion revenue. PepsiCo maintained its ful
Cramer Remix: Stick with this beverage stock for the long term Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: tyler clifford, david paul morris, bloomberg, getty images, adam jeffery, scott mlyn, brendan mcdermid
Keywords: news, cnbc, companies, fritolay, business, company, money, beverage, cents, long, turn, stock, stick, remix, pepsico, term, cramer, share


Cramer Remix: Stick with this beverage stock for the long term

Investors should believe the top brass of a company with a good, long-term track record when its management says it can turn things around, CNBC’s Jim Cramer said Tuesday.

PepsiCo, which has doubled its dividend in the past decade, is one of those names to put faith behind even when analysts are against the odds, he said. The stock is up nearly 4% from its April 16 close, a day before it delivered better-than-expected first quarter results.

“If you gave PepsiCo the benefit of the doubt, you now have some terrific gains, and even after this move, I still like the stock for the long term because this team has proven that they can innovate on the fly,” the “Mad Money” host said.

The food and beverage giant, which includes brands such as Frito-Lay, Gatorade, Pepsi-Cola, and Tropicana, has spent money to turn its business around and their plan is working, Cramer said. Frito-Lay has been surging, and the North American beverage business got a boost after introducing new packaging formats and new products in Bubly and LIFEWTR, he added.

In its earnings report last Wednesday, PepsiCo revealed that core sales grew 5.2%, its fastest pace in more than three years. The company also recorded profit of 97 cents per share and revenue of $12.88 billion, which topped expectations of 92 cents per share and $12.70 billion revenue.

PepsiCo maintained its full-year guidance, but Cramer said it could be a conservative call to under promise and over deliver.

“In response, the stock surged to new highs and the bears at Goldman Sachs [were] forced to upgrade the stock from sell back to neutral,” he said. “At what point do you think they have to go to a buy, if it goes down 30 cents, don’t you think?”

Get Cramer’s full insight here


Company: cnbc, Activity: cnbc, Date: 2019-04-23  Authors: tyler clifford, david paul morris, bloomberg, getty images, adam jeffery, scott mlyn, brendan mcdermid
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Earnings and data could be proof that slowdown fears were overblown

The outlook for first-quarter growth has suddenly shifted upward, after a series of better data releases later in the quarter. This past week, China reported first-quarter GDPat 6.4%, slightly better than the 6.3% expected by economists. I think investors have kind of gotten past this notion of global downturn. I do think next week is going to be important for earnings. Dan Suzuki, portfolio strategist at Richard Bernstein Advisors, said he still sees deteriorating fundamentals for both earnings


The outlook for first-quarter growth has suddenly shifted upward, after a series of better data releases later in the quarter. This past week, China reported first-quarter GDPat 6.4%, slightly better than the 6.3% expected by economists. I think investors have kind of gotten past this notion of global downturn. I do think next week is going to be important for earnings. Dan Suzuki, portfolio strategist at Richard Bernstein Advisors, said he still sees deteriorating fundamentals for both earnings
Earnings and data could be proof that slowdown fears were overblown Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-19  Authors: patti domm, brendan mcdermid
Keywords: news, cnbc, companies, important, slowdown, quarter, investors, proof, china, market, overblown, fears, earnings, data, going, think, week


Earnings and data could be proof that slowdown fears were overblown

Earnings season shifts into a higher gear in the week ahead, as investors also watch for fresh economic data that could show that the economy is pulling out of a temporary rut.

Amazon, Boeing, Microsoft and ExxonMobil are among more than 140 S&P 500 companies reporting quarterly results. According to Refinitiv, 74% of the companies reporting so far have beaten expectations. Based on forecasts and actual reports, earnings for the S&P 500 as a whole are expected to decline 1.7%, the first negative quarter in three years. Some forecasters had projected an earnings decline of 4% or more.

The equivalent of the economy’s first-quarter report card will be released Friday, with the first reading of GDP. The outlook for first-quarter growth has suddenly shifted upward, after a series of better data releases later in the quarter. CNBC/Moody’s Analytics Rapid Update survey shows economists’ median forecast is now tracking at 2.4%, way above the 1% expected earlier in the quarter, when severe winter weather and the government shutdown were stifling the economy.

At the same time, investors are feeling better about global growth and far less fearful of a recession in the near term. One reason is that China’s data has also been picking up. This past week, China reported first-quarter GDPat 6.4%, slightly better than the 6.3% expected by economists.

“I think a lot of this is leveraged on economic activity. I think investors have kind of gotten past this notion of global downturn. The China number was pretty good earlier in the week. I do think next week is going to be important for earnings. We’re going to get a great cross section of industries,” said Jack Ablin, CIO at Cresset Wealth Advisors. On Wednesday, China’s first quarter GDP

U.S. trade talks with China could be also important in the week ahead, with negotiations continuing and investors awaiting news of a summit between President Donald Trump and China President Xi Jinping.

Dan Suzuki, portfolio strategist at Richard Bernstein Advisors, said he still sees deteriorating fundamentals for both earnings and the economy, even though data appears to be improving.

“I think it’s a function of expectations were probably dropping too quickly, and I think recent data is telling you that growth isn’t collapsing but it’s slowing,” he said. “I think that’s very important. That’s probably going to be the most important dynamic. That’s probably going to continue.”

That could make for a choppier market at some point, he said. Suzuki said he could see stocks ending the year higher than current levels but he expects to see the market pull back first.

The market shrugged off Thursday’s release of special counsel Robert Mueller’s report on the Trump campaign and Russian election interference.

“This type of thing firmly falls into the category of it can move the needle for the market on a daily or weekly performance basis, but it’s not going to be a longer term story for the market,” Suzuki said. Analysts have said the economy’s performance is more important for Trump’s reelection than the report at this point.

What to Watch

Monday

Earnings: Halliburton, Kimberly-Clark, Whirlpool, Celanese, Allison Transmission, Range Resources, WW Grainger, Zions Bancorp, Cadence Designs

10:00 a.m. Existing home sales

Tuesday

Earnings: Coca-Cola, Lockheed Martin, Procter and Gamble, Verizon, Twitter, NextEra Energy, Northern Trust, Teradyne, Carlisle Cos, United Technologies, Fifth Third, JetBlue, Harley Davidson, PulteGroup, State Street, eBay, Six Flags, Stryker, Snap, Texas Instruments, Canadian Pacific Railway, Kaiser aluminum

9:00 a.m. FHFA home prices

9:45 a.m. Manufacturing PMI 9:45 a.m. Services PMI 10:00 a.m. New home sales

Wednesday

Earnings: AT&T, Caterpillar, Boeing, Facebook, Microsoft, Visa, Tesla, PayPal, General Dynamics, Northrop Grumman, Chipotle Mexican Grill, F5 Networks, Boston Beer, Churchill Downs, Netgear, Sirius XM, Moody’s, T.Rowe Price, Spirit Airlines, Graco, Biogen, Domino’s Pizza, Nasdaq OMX, Anthem, Boston Scientific

Thursday

Earnings: Amazon, 3M, Comcast, Bristol-Myers Squibb, Freeport-McMoRan, Hershey, Alexion Pharma, Altria, Barclays, UBS, Starbucks, Intel, Ford, Discover Financial, Eastman Chemical, Alaska Air, American Electric, Illinois Tool Works, Nintendo, UPS, DR Horton, Capitol One, Valero Energy, Southwest Air, Nokia, Tractor Supply, Brunswick

8:30 a.m. Initial claims

8:30 a.m. Durable goods 10:00 a.m. Housing vacancies

Friday

Earnings: Exxon Mobil, Chevron; Archer Daniels Midland, AstraZeneca, Colgate-Palmolive, Daimler, Cabot Oil and Gas, AutoNation, Autoliv, Bloomin’ Brands, Deutsche Bank, Sanofi, Sony,

8:30 a .m. Real GDP (Q1 advance)

8:30 a.m. Advance economic indicators

10:00 a.m. Consumer sentiment


Company: cnbc, Activity: cnbc, Date: 2019-04-19  Authors: patti domm, brendan mcdermid
Keywords: news, cnbc, companies, important, slowdown, quarter, investors, proof, china, market, overblown, fears, earnings, data, going, think, week


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Global investors haven’t been this worried about the economy since 2016

But 66% also see below-trend economic growth and low inflation, the highest percent since October 2016. Seventy percent expect a global recession to start in the second half of 2020 or later, while 86% do not believe the inversion of the U.S. Treasury yield curve signals an impending recession. The fund managers continue to see the biggest risks as the trade war and China’s growth slowdown. Fund managers did increase their exposure to cyclical risk in the month by adding stocks and reducing cash


But 66% also see below-trend economic growth and low inflation, the highest percent since October 2016. Seventy percent expect a global recession to start in the second half of 2020 or later, while 86% do not believe the inversion of the U.S. Treasury yield curve signals an impending recession. The fund managers continue to see the biggest risks as the trade war and China’s growth slowdown. Fund managers did increase their exposure to cyclical risk in the month by adding stocks and reducing cash
Global investors haven’t been this worried about the economy since 2016 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: patti domm, brendan mcdermid
Keywords: news, cnbc, companies, managers, economy, global, havent, 2016, growth, stocks, half, zone, trade, worried, fund, second, rates, investors


Global investors haven't been this worried about the economy since 2016

Global fund managers have positioned their portfolios for slower growth and lower interest rates, but they do not foresee a recession until the second half of next year at the earliest, according to a new survey.

More than half, or 53%, of the fund managers in the monthly Bank of America Merrill Lynch survey believe the Fed is done raising interest rates, and just 13% expect higher global short-term rates, the lowest level since August 2012.

But 66% also see below-trend economic growth and low inflation, the highest percent since October 2016. Seventy percent expect a global recession to start in the second half of 2020 or later, while 86% do not believe the inversion of the U.S. Treasury yield curve signals an impending recession.

Betting against European stocks was the most crowded trade in April, for a second month. While investors are negative on Europe, the second-most crowded trade favors buying big-cap growth names in the U.S. and China, through FAANG and BAT.

FAANG stocks are Facebook, Amazon, Apple, Netflix and Alphabet, while BAT represents Baidu, Alibaba and Tencent. The third- and fourth-most crowded trades are long U.S. dollar and then long Treasurys.

There were 187 participants in the survey, which was conducted between April 5-11.

The fund managers continue to see the biggest risks as the trade war and China’s growth slowdown. Trade wars have edged out China’s growth slowdown as the bigger worry in 10 of the last 11 months. The dominant concerns since 2011 have been euro zone debt, possible breakdown of the euro zone, Chinese growth, populism, quantitative tightening and trade wars.

Fund managers did increase their exposure to cyclical risk in the month by adding stocks and reducing cash. But the investing pros are most heavily positioned in utilities, and their allocation to global bank stocks is the lowest since September 2016. They also favor cash and emerging markets vs. stocks and the euro zone.


Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: patti domm, brendan mcdermid
Keywords: news, cnbc, companies, managers, economy, global, havent, 2016, growth, stocks, half, zone, trade, worried, fund, second, rates, investors


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Sprint stock falls 10% on report T-Mobile merger is unlikely to be approved as currently structured

The Justice Department is unlikely to approve a planned $26 billion merger between T-Mobile and Sprint, The Wall Street Journal reported Tuesday. Shares of Sprint plunged as much as 12% in after-hours trading following the report, while T-Mobile fell more than 4%. The Justice Department did not immediately respond to a request for comment. About a year ago, T-Mobile and Sprint announced they had reached an all-stock stock deal to combine the companies. Read the full report in The Wall Street Jou


The Justice Department is unlikely to approve a planned $26 billion merger between T-Mobile and Sprint, The Wall Street Journal reported Tuesday. Shares of Sprint plunged as much as 12% in after-hours trading following the report, while T-Mobile fell more than 4%. The Justice Department did not immediately respond to a request for comment. About a year ago, T-Mobile and Sprint announced they had reached an all-stock stock deal to combine the companies. Read the full report in The Wall Street Jou
Sprint stock falls 10% on report T-Mobile merger is unlikely to be approved as currently structured Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: christine wang, brendan mcdermid
Keywords: news, cnbc, companies, unlikely, street, currently, merger, justice, department, approved, sprint, stock, trading, journal, structured, deal, wall, report, falls, tmobile


Sprint stock falls 10% on report T-Mobile merger is unlikely to be approved as currently structured

The Justice Department is unlikely to approve a planned $26 billion merger between T-Mobile and Sprint, The Wall Street Journal reported Tuesday.

Staffers from the Justice Department have reportedly told both carriers that the deal may not be approved under its current structure, the Journal reported, citing people familiar with the matter.

Reuters later confirmed the report with one person familiar with the matter, who cautioned that a final decision has not been made.

Shares of Sprint plunged as much as 12% in after-hours trading following the report, while T-Mobile fell more than 4%.

A spokesman for Sprint declined to comment to CNBC. The Justice Department did not immediately respond to a request for comment.

About a year ago, T-Mobile and Sprint announced they had reached an all-stock stock deal to combine the companies. Shareholders of both companies approved the deal in October, which later received national security clearance.

But the deal’s greatest regulatory hurdle was that it would combine the third- and fourth-largest wireless providers in the U.S., a market with only two other participants: AT&T and Verizon.

Shares of Verizon slipped about 1% in postmarket trading Tuesday, while AT&T edged 0.6% lower.

Critics of the merger have argued it would lead to job loss, decreased competition and increased prices for consumers, especially in rural America.

In February, T-Mobile CEO John Legere defended the deal before Congress, asserting that the deal would create jobs and lower prices.

Read the full report in The Wall Street Journal.


Company: cnbc, Activity: cnbc, Date: 2019-04-16  Authors: christine wang, brendan mcdermid
Keywords: news, cnbc, companies, unlikely, street, currently, merger, justice, department, approved, sprint, stock, trading, journal, structured, deal, wall, report, falls, tmobile


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Pinterest IPO valuation: Cheap or expensive?

Pinterest IPO valuation: Cheap or expensive? 2 Hours AgoCNBC’s Leslie Picker joins “Squawk Alley” to talk about Pinterest’s valuation ahead of its impending IPO.


Pinterest IPO valuation: Cheap or expensive? 2 Hours AgoCNBC’s Leslie Picker joins “Squawk Alley” to talk about Pinterest’s valuation ahead of its impending IPO.
Pinterest IPO valuation: Cheap or expensive? Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: brendan mcdermid
Keywords: news, cnbc, companies, pinterests, expensive, leslie, picker, impending, valuation, pinterest, ipo, cheap, talk, squawk, joins


Pinterest IPO valuation: Cheap or expensive?

Pinterest IPO valuation: Cheap or expensive?

2 Hours Ago

CNBC’s Leslie Picker joins “Squawk Alley” to talk about Pinterest’s valuation ahead of its impending IPO.


Company: cnbc, Activity: cnbc, Date: 2019-04-15  Authors: brendan mcdermid
Keywords: news, cnbc, companies, pinterests, expensive, leslie, picker, impending, valuation, pinterest, ipo, cheap, talk, squawk, joins


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Zoom is poised to be one of the most richly valued tech companies after it goes public

On Monday, it gave a price range of $28 to $32 a share, and given the commentary from investors, the price could go even higher. But even if it just prices at the top of the current range, Zoom will be one of the richest valued software companies on the market. Here’s the math:At $32, Zoom would have a market value of $8.25 billion. Lyft has an EV/sales ratio of 10.4, and Pinterest’s ratio is about 11 based on the top end of its price range. If Zoom were to price at $32 and go up a fairly modest


On Monday, it gave a price range of $28 to $32 a share, and given the commentary from investors, the price could go even higher. But even if it just prices at the top of the current range, Zoom will be one of the richest valued software companies on the market. Here’s the math:At $32, Zoom would have a market value of $8.25 billion. Lyft has an EV/sales ratio of 10.4, and Pinterest’s ratio is about 11 based on the top end of its price range. If Zoom were to price at $32 and go up a fairly modest
Zoom is poised to be one of the most richly valued tech companies after it goes public Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-10  Authors: ari levy, courtesy of zoom video communications, brendan mcdermid
Keywords: news, cnbc, companies, companies, ratio, 32, expected, zooms, tech, poised, price, valued, range, goes, richly, multiple, public, software, zoom


Zoom is poised to be one of the most richly valued tech companies after it goes public

Zoom’s Wall Street debut is expected next week. On Monday, it gave a price range of $28 to $32 a share, and given the commentary from investors, the price could go even higher. But even if it just prices at the top of the current range, Zoom will be one of the richest valued software companies on the market.

Here’s the math:

At $32, Zoom would have a market value of $8.25 billion. Based on trailing full-year revenue of $330.5 million, that would give Zoom an enterprise value-to-sales ratio of 24.5.

That’s before an expected first-day pop.

Lyft has an EV/sales ratio of 10.4, and Pinterest’s ratio is about 11 based on the top end of its price range.

If you look at Zoom’s peers — cloud software companies valued at $1 billion or more — only Zscaler, Okta and Atlassian trade at a premium to its projected multiple, according to FactSet.

Zscaler has the highest EV/sales ratio at 31.8, as the security software company’s stock has quadrupled since its IPO last year.

If Zoom were to price at $32 and go up a fairly modest 30 percent in its debut, it would have a similar multiple to Zscaler.

ServiceNow and Workday have ratios close to 15 and Salesforce’s is under 10.


Company: cnbc, Activity: cnbc, Date: 2019-04-10  Authors: ari levy, courtesy of zoom video communications, brendan mcdermid
Keywords: news, cnbc, companies, companies, ratio, 32, expected, zooms, tech, poised, price, valued, range, goes, richly, multiple, public, software, zoom


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Pinterest gets its first recommendation from Wall Street before it goes public

Pinterest has already earned a recommendation from Wall Street and it’s not even listed on public exchanges yet. London-based U.S. equity brokerage firm Atlantic Equities on Tuesday initiated coverage of Pinterest with an overweight rating and a $23 year-end price target. This comes one day after the image-sharing social network set a price range of $15 to $17 per share for its initial public offering of 75 million shares. The upper end of the target range will put Pinterest at just $11.3 billio


Pinterest has already earned a recommendation from Wall Street and it’s not even listed on public exchanges yet. London-based U.S. equity brokerage firm Atlantic Equities on Tuesday initiated coverage of Pinterest with an overweight rating and a $23 year-end price target. This comes one day after the image-sharing social network set a price range of $15 to $17 per share for its initial public offering of 75 million shares. The upper end of the target range will put Pinterest at just $11.3 billio
Pinterest gets its first recommendation from Wall Street before it goes public Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: yun li, brendan mcdermid
Keywords: news, cnbc, companies, companys, range, target, social, goes, public, wall, price, street, recommendation, gets, initial, shares, pinterest, offering


Pinterest gets its first recommendation from Wall Street before it goes public

Pinterest has already earned a recommendation from Wall Street and it’s not even listed on public exchanges yet.

London-based U.S. equity brokerage firm Atlantic Equities on Tuesday initiated coverage of Pinterest with an overweight rating and a $23 year-end price target. This comes one day after the image-sharing social network set a price range of $15 to $17 per share for its initial public offering of 75 million shares. Pinterest will list under the ticker “PINS” on the New York Stock Exchange.

“We believe the company’s unique and broadly appealing proposition, offering consumers the ability to view and collate visual recommendations, will enable ongoing robust user growth,” Atlantic’s analyst, James Cordwell, said in a note to clients Tuesday.

Pinterest’s price range is seen as a discount from the company’s most recent valuation on the private markets, which was $12 billion in its last fundraising round in 2017. The upper end of the target range will put Pinterest at just $11.3 billion.

The social network’s public offering follows ride-hailing start-up Lyft’s debut less than two weeks ago. It was not smooth sailing for Lyft as its shares went downhill after the initial pop and are still trading below the IPO price. More of the so-called unicorns, privately financed companies valued at more than $1 billion, are slated to go public this year, including Uber, Airbnb, Slack and Postmates.


Company: cnbc, Activity: cnbc, Date: 2019-04-09  Authors: yun li, brendan mcdermid
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Pinterest’s price range for IPO values the company about $3 billion less than it was 2 years ago

Pinterest would be valued as high $11.3 billion if you include stock options and restricted stock. The company raised $2.3 billion in its offering but has seen a rocky start to trading. Pinterest was valued at $12 billion in its last fundraising round in 2017. CNBC reported last year the company was nearing $1 billion in ad revenue. The company will go public with a dual-class share structure to concentrate voting power with Class B shareholders, which include co-founder and CEO Benjamin Silberm


Pinterest would be valued as high $11.3 billion if you include stock options and restricted stock. The company raised $2.3 billion in its offering but has seen a rocky start to trading. Pinterest was valued at $12 billion in its last fundraising round in 2017. CNBC reported last year the company was nearing $1 billion in ad revenue. The company will go public with a dual-class share structure to concentrate voting power with Class B shareholders, which include co-founder and CEO Benjamin Silberm
Pinterest’s price range for IPO values the company about $3 billion less than it was 2 years ago Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: sara salinas, brendan mcdermid, tomohiro ohsumi, bloomberg, getty images, shannon stapleton, andres ruffo, adam gault, saeed khan afp, andrew caballero-reynolds
Keywords: news, cnbc, companies, valuation, values, ipo, price, company, valued, tech, pinterest, pinterests, range, stock, share, public, billion, plans, ago


Pinterest's price range for IPO values the company about $3 billion less than it was 2 years ago

Pinterest is prepping for an IPO — Here’s what four experts say about the tech company’s valuation 2 Hours Ago | 02:18

Pinterest is eyeing a valuation of up to $9 billion when it debuts on public exchanges this spring.

That’s something of a discount from the company’s most recent valuation on the private markets, but nonetheless keeps Pinterest in the same neighborhood as other major tech companies with plans for an initial public offering this year.

The image-sharing social network said in a regulatory filing Monday it plans to sell 75 million shares at $15 to $17 per share. At the upper end of its target range, the company would raise $1.3 billion in net proceeds and see a valuation of just under $9 billion, based on an outstanding share count of 529 million shares at the time of the offering. Pinterest would be valued as high $11.3 billion if you include stock options and restricted stock. But that’s not how it’ll be valued once it’s public.

Lyft was the first out of the gates in a heavyweight class of tech IPOs. The company raised $2.3 billion in its offering but has seen a rocky start to trading. Uber, Slack, and Postmates have all filed IPO plans for this year.

Pinterest was valued at $12 billion in its last fundraising round in 2017. CNBC reported last year the company was nearing $1 billion in ad revenue.

The company reported $756 million in 2018 revenue in its IPO prospectus. Revenue grew 60% year over year, but still made for a net loss of $63 million.

Pinterest will list under the symbol “PINS” on the New York Stock Exchange. The company will go public with a dual-class share structure to concentrate voting power with Class B shareholders, which include co-founder and CEO Benjamin Silbermann.

—Reuters contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-04-08  Authors: sara salinas, brendan mcdermid, tomohiro ohsumi, bloomberg, getty images, shannon stapleton, andres ruffo, adam gault, saeed khan afp, andrew caballero-reynolds
Keywords: news, cnbc, companies, valuation, values, ipo, price, company, valued, tech, pinterest, pinterests, range, stock, share, public, billion, plans, ago


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