The StubHub logo is seen at its headquarters in San Francisco.Andrej Sokolow | Picture Alliance | Getty ImagesOnline ticket platform StubHub is pricing its IPO at $23.50, CNBC’s Leslie Picker confirmed on Tuesday.The pricing comes at the midpoint of the expected range that the company gave last week. At $23.50, the pricing gives StubHub a valuation of $8.6 billion. StubHub will trade on the New York Stock Exchange under the symbol “STUB.” The San Francisco-based company was co-founded by Eric Baker in 2000, and was acquired by eBay for $310 million seven years later. Baker reacquired StubHub in 2020 for roughly $4…
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A specialist trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., Sept. 15, 2025. Brendan McDermid | ReutersStock futures were little changed late Tuesday as traders prepared for a much-anticipated monetary policy decision and an even more important policy outlook from the Federal Reserve on Wednesday.S&P 500 futures added 0.02%, while Nasdaq-100 futures advanced 0.02%. Futures contracts tied to the Dow Jones Industrial Average were up 13 points, or 0.03%.Traders almost universally expect the Federal Reserve will lower interest rates on Wednesday, a move that could boost the U.S. economy amid signs…
The final trades of the day with CNBC’s Melissa Lee and the Fast Money traders. Source link
U.S. policymakers should take note as biopharmaceutical companies pull back on investments in the U.K., Eli Lilly Chief Executive Officer Dave Ricks said in an interview with CNBC.Lilly recently paused plans to create a biotech incubator called Gateway Labs in the U.K., joining other biopharma companies that have put investments in the country on hold amid concerns about drug pricing and other policies in the U.K. The country controls the price of branded medicines in a few ways, including by requiring companies to pay a rebate if the government spends more than expected on branded drugs. This year’s rate of…
In this photo illustration, the logo of TikTok is displayed on a smartphone screen on April 5, 2025 in Shanghai, China. Vcg | Visual China Group | Getty ImagesPresident Donald Trump on Tuesday extended the deadline for ByteDance to divest TikTok’s U.S. business, which will be owned by an investor consortium that includes Oracle and Silver Lake, CNBC’s David Faber reported.It’s the fourth time Trump has extended the deadline. The extension, as described in an executive order, precludes the Department of Justice from enforcing a national security law that would effectively ban TikTok in the U.S. until Dec. 16.U.S. Treasury Secretary Scott…
VCG | Visual China Group | Getty ImagesGoogle has been trying to play catchup to OpenAI in generative artificial intelligence. It appears to finally be gaining ground with users.The company’s Gemini app took the top spot among free apps on Apple’s App Store this week, leapfrogging ChatGPT, which kickstarted the generative AI boom almost three years ago.Google’s Gemini AI model has seen some recent updates that have lured new users. Last month, Google launched an updated version of its “Flash” AI model, called 2.5 Flash Image, which has a new image editing feature called Nano Banana. The app allows users…
Federal Reserve Chairman Jerome Powell speaks at Jackson Hole on Aug. 22, 2025 in Wyoming.David A. Grogan | CNBCThe Federal Reserve meets this week with some big items on the agenda: An important rate decision and forecast of what’s ahead, combined with a healthy dose of political intrigue uncommon for central bank policymakers.On the monetary side, the Federal Open Market Committee on Wednesday will release its ruling on where it will set the overnight borrowing rate. Along with that, officials will sketch their outlook for what’s ahead for rates on the closely followed “dot plot” grid.Politically, there will be one…
Bill Nygren, portfolio manager at Oakmark Funds since the 1980s, said Tuesday that investors should look outside of the S & P 500 for opportunities, as it has effectively become a megacap tech fund. The longtime value investor said he is picking up hidden gems outside the dominant technology sector, prioritizing strong companies with single-digit price-to-earnings multiples. The S & P 500 has recently rallied to record highs, powered by a handful of megacap tech stocks, from Nvidia to Alphabet . Nygren said he likes retirement services firm Corebridge Financial , which has a robust buyback program. “It’s a competitive…
Gary Bettman, NHL Commissioner, speaking on CNBC’s Squawk Box on Nov. 20th, 2024. CNBCThe 2026 Winter Olympics in Milan will mark the first time in 12 years that NHL players will return to the Games, something that NHL Commissioner Gary Bettman is expecting to have a big impact on the league.”Ultimately, in terms of balancing the pros and cons, we decided it was important to go back and be on what is one of the most visible platforms in the world,” Bettman said at CNBC Sport and Boardroom’s Game Plan conference in Santa Monica, California, on Tuesday.Prior to Bettman being named…
Microsoft CEO Satya Nadella speaks at Microsoft Build AI Day in Jakarta, Indonesia, on April 30, 2024.Adek Berry | AFP | Getty ImagesLONDON — Microsoft said on Tuesday that it plans to invest $30 billion in the U.K. by 2028, as the company builds out its artificial intelligence infrastructure. The investment includes an additional $15.5 billion in capital expansion and $15.1 billion in its U.K. operations, Microsoft said. The company said the investment would enable it to build the U.K.’s “largest supercomputer,” with more than 23,000 advanced graphics processing units, in partnership with Nscale, a British cloud computing firm.The spending…
