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Stock market gains help pave way for IPO resurgence

LOS ANGELES (AP) — A strong stock market turnaround is helping spur a resurgence in companies going public a year after the number of Wall Street newcomers fell to the lowest level since the Great Recession. Some 55 initial public offerings, or IPOs, have priced so far this year, raising $9.7 billion in proceeds, according to IPO tracker Renaissance Capital. Last year, 71 companies went public, raising $7.7 billion. The last time there were fewer IPOs was 2009, when 63 companies went public. All told, 100 companies have filed IPO documents this year, compared to 83 at this point ...

Asian shares are mixed as investors weigh weakness in the tech sector

BANGKOK (AP) — Shares were mixed Friday in Asia after the latest rally on Wall Street fizzled, with big declines for Tesla, Netflix and other big tech-oriented stocks. Hong Kong, Seoul and Bangkok advanced while Tokyo, Shanghai and Sydney declined. U.S. futures edged higher and oil prices also climbed. Taiwan’s Taiex 0.8% fell after TSMC, the world’s biggest manufacturer of computer chips, said it expects its sales to fall 10% this year as demand wanes. It also said it would not meet a 2024 target for starting production at a factory under construction in Arizona. TSMC’s ...

Autoliv rise; American Express, CSX fall

NEW YORK (AP) — Stocks that are trading heavily or have substantial price changes on Friday: Scholastic Corp. (SCHL), up $4.48 to $44.26. The publishing, education and media company beat analysts’ fiscal fourth-quarter earnings forecasts. Autoliv Inc. (ALV), up $10.04 to $103.31. The maker of automotive safety systems reported strong second-quarter financial results. Roper Technologies Inc. (ROP), up $18.23 to $499.82. The industrial equipment maker beat Wall Street’s second-quarter profit and revenue forecasts. American Express Co. (AXP), down $6.03 to $171.08. The ...

Wall Street’s rally fades after Tesla and Netflix fall

NEW YORK (AP) — Drops for Tesla, Netflix and other big tech-oriented stocks on Thursday are putting the clamps on Wall Street’s torrid rally. The S&P 500 was 0.6% lower in late trading, coming off its highest close since early April 2022 and its seventh gain in the last eight days. The Nasdaq composite was down 1.9% with about an hour remaining in trading, and it’s on track for its worst drop in nearly three months. The Dow Jones Industrial Average was an outlier and up 202 points, or 0.6%, at 35,264 because it has less of an emphasis on tech stocks. Tesla tumbled 9.3% ...

Dubai’s stock market hits an 8-year high, lifted by estate boom

DUBAI, United Arab Emirates (AP) — Buoyed by a surge in real estate activity, the Dubai Financial Market has reached its highest point in nearly eight years and extended year-to-date gains to nearly 25%. The city-state’s bourse peaked at 4,022 on Tuesday before pulling back to 3,986 on Thursday. It’s trading at the highest levels since August 2015. This year the Dubai Financial Market has outperformed the S&P 500, which is up nearly 20%, and the MSCI All Country World Index, a benchmark for global equities, which is up 16%. Dubai, a global business hub home to 3.5 million ...

Carvana, Constellation Brands rise

Stocks that traded heavily or had substantial price changes on Wednesday: Carvana, Constellation Brands rise; Omnicom, ASML Holding fall Stocks that traded heavily or had substantial price changes on Wednesday: Carvana Co., up $16 to $55.80. The used car retailer announced a comprehensive debt restructuring deal. ASML Holding N.V., down $41.25 to $715.78. The semiconductor equipment supplier warned of caution from chipmakers and a delayed recovery. Omnicom Group Inc., down $10.14 to $87.78. The advertising company reported weak second-quarter revenue and warned of economic ...