Instacart had a successful IPO and closed the day 12% higher, reeling in $420 million in cash from the Nasdaq offering.
Although hundreds of billions away, Microsoft’s valuation is gradually closing in on that of Apple, racing to become the world’s largest.
The performance of Instacart IPO will provide valuable insights into the appetite for tech-driven companies and the willingness of investors to pay a premium for companies operating in sectors with significant growth potential.
The Nasdaq saw a lower close as tech stocks fell after Oracle released figures that disappointed Wall Street.
Tuesday’s stock drop has not affected the performance of Oracle shares in an overall sense.
Following an uptick in first-quarter revenue, Oracle’s board of directors approved a cash dividend of about 40 cents per share, which will be paid out to shareholders on October 26.
Roku said that the company’s decision of lay-offs come as it plans to cutdown on expenses and eventually focus on growth.
Amazon will release an application on the Shopify ecosystem to enable US-based Amazon merchants to add Buy with Prime into their Shopify Checkout.
Lululemon Athletica announced a revenue of about $2.2 billion, up approximately 18 percent compared to the same time last year.
The S&P 500 gained about 3.17 percent in the past five days to trade at around 4,514.87 as of Wednesday’s close.
Despite reporting stronger guidance than expected by analysts, Salesforce highlighted that market uncertainty continues to pressure its future growth prospects.
At the core of the Nasdaq Composite’s resurgence was the undeniable role of bonds and economic data.
The inflation and jobs data will play a crucial role in further market movements.
Gap Inc’s new CEO Richard Dickson took over after the company reported an 8 percent drop in sales in Q2 to $3.55 billion, compared with $3.86 billion a year earlier.
Driven by the high demand for AI products, Nvidia reported a significant increase in revenue and expects exponential growth ahead.