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The world’s biggest IPO gets much bigger

Aramco Announced Sunday that its initial public offering raised an additional 450 million shares, raising the size of its IPO $3.8 billion to a total of $29.4 billion. The oil giant initially raised a then-record $25.6B in its IPO in December by selling 3B shares at 32 riyals ($8.53). The company officials said it had... The world’s biggest IPO gets much bigger
Aramco Announced Sunday that its initial public offering raised an additional 450 million shares, raising the size of its IPO $3.8 billion to a total of $29.4 billion. The oil giant initially raised a then-record $25.6B in its IPO in December by selling 3B shares at 32 riyals ($8.53).

The company officials said it had used the “greenshoe option” or over-allotment, an option which allows companies to issue more shares in an IPO when there is greater demand from participants during the initial offering.

Aramco shares have been volatile amid heightened tensions between the United States and Iran, which lies across the Gulf from Saudi Arabia.

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NASDAQ edges up ahead of big tech’s earnings

NASDAQ edges up ahead of big tech’s earnings

This week the main attention will be on the earnings season with more of the FAANG group of companies reporting their quarterly earnings. Facebook, Apple, Amazon, and Alphabet are among the big giants to report this week. These are the most popular momentum stocks which are largely responsible for the stock market’s gains over the past few years and these four Big Tech combines for more than $5 trillion in market value.

Tesla Earnings Today: Who will win, the bulls or the bears?

Tesla Earnings Today: Who will win, the bulls or the bears?

The world’s most valuable automaker Tesla (TSLA) is set to announce its second-quarter 2020 financial results today, Wednesday, July 22 after the markets close. $TSLA shares started this week on a positive note, the stock climbed from $1,500 to $1,643 more than 9% on Monday. While on Tuesday the shares closed 5% lower after investment bank JMP Securities is out with a rating downgrade for Tesla. Based on the company's closing price yesterday, Tesla has a $290 billion market capitalization.

Netflix stock closed below $500 on Friday: Can we expect further downside?

Netflix stock closed below $500 on Friday: Can we expect further downside?

Netflix shares plunged 15% last week from the $575 level as the company signalled weaker subscriber growth and profits were weaker than expected. Meanwhile, the revenue for the last quarter reported was $70 million higher than the Wall Street estimates. The world’s largest streaming company announced the second-quarter 2020 financial results on Thursday after market close.