Circle Internet Group, the issuer of one of the world’s biggest stablecoins, priced its initial public offering at $31 per share late Wednesday. That’s above the expected range of $27 to $28 and gives the company a total market value of $6.8 billion.New York-based Circle, its founder and some original shareholders will raise $1.05 billion in the offering of 34 million shares. In a measure of enormous demand for the crypto company, Circle increased the number of shares sold in the IPO from 32 million after the market closed Wednesday. Originally, Circle had sought to raise just $624 million by…
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ICE arrested Ramon Morales-Reyes, a 54-year-old from Mexico on May 22, 2025.Courtesy: U.S. Homeland SecurityAn undocumented immigrant who prosecutors say was framed by a jail inmate for writing threatening letters about President Donald Trump was ordered Wednesday to remain detained by an immigration judge in Chicago to give a government lawyer more time to review evidence in the case.But an attorney for the immigrant Ramon Morales-Reyes, said he was hopeful that the Milwaukee, Wisconsin, resident would be released on bond after another immigration court hearing scheduled for Tuesday.The judge at the hearing will consider whether the 54-year-old Morales-Reyes is a…
Yum Brands has a leg up over its competitors, according to Goldman Sachs. The bank upgraded the parent company of KFC, Pizza Hut and Taco Bell to buy from neutral. Analyst Christine Cho kept her 12-month price target of $167, implying potential upside of 16%. KFC led the company’s growth in the first quarter, with 528 openings globally — the second highest for a first quarter in the brand’s history. China remains an important market for the company, with 50% to 60% of incremental global unit additions coming from the country per year. YUM YTD mountain YUM YTD chart “Further,…
CNBC’s Tanaya Macheel joins ‘Fast Money’ with breaking news on Circle’s IPO. Source link
Nikesh Arora, CEO of Palo Alto Networks, appears on CNBC’s “Squawk Box” at the WEF Annual Meeting in Davos, Switzerland on Jan. 16th, 2024.Adam Galici | CNBCNikesh Arora, the CEO of Palo Alto Networks, is joining Uber’s board of directors, the company announced in a regulatory filing Wednesday.It comes amid a broader executive shakeup this week at the ride-hailing company, which saw head of delivery Pierre-Dimitri Gore-Coty depart after 13 years. Andrew Macdonald, head of mobility, was promoted to president and chief operating officer, Uber’s first since 2019.”I’m honored to join Uber’s Board at such an exciting time, as the…
A man reads a note placed on a memorial at the scene of an attack that injured multiple people, outside the Boulder County Courthouse, in Boulder, Colorado, U.S. June 2, 2025.Mark Makela | ReutersA federal judge on Wednesday barred the Trump administration from deporting the wife and five children of Mohamed Soliman, the Egyptian national accused of attacking a group of demonstrators in Boulder, Colorado, with a makeshift flamethrower and Molotov cocktails.The order blocking the removal of Soliman’s family came a day after they were taken into custody by U.S. Immigration and Customs Enforcement Agents. The White House’s official X…
The App Store logo is seen next to the Epic Games Store logo on two screens. Epic, maker of the popular game “Fortnite,” wants to sell digital items in its apps without giving a cut of the purchase price to Apple.Fabian Summer | picture alliance | Getty ImagesApple was dealt a blow in the U.S. Court of Appeals for the Ninth Circuit on Wednesday, as a panel of judges denied the company’s emergency application to halt changes to its App Store that resulted from the company’s legal battle with Epic Games.Apple “bears the burden of showing that the circumstances justify…
One sector that was seen as a potential winner of the Trump administration is starting to cool, even as some of the projected benefits seem to be materializing. Wolfe Research analyst Rob Ginsberg wrote in a note to clients that financials are showing signs of weakness. The group is still outperforming the S & P 500 year to date, but the gap has been closing in recent weeks. “The sector peaked on a relative basis in April and has been leaking lower since. The most concerning group in our view? Capital Market names,” Ginsberg wrote, referring especially to financial exchanges…
Check out the companies making headlines in after-hours trading: Five Below — Shares of the discount retailer added 2.5% on the back of strong first-quarter financial results and second-quarter guidance. Five Below reported adjusted earnings of 86 cents per share on $971 million in revenue, while analysts polled by LSEG called for 82 cents per share on $967 million. Five Below’s Chief Financial Officer Kristy Chipman is also leaving the company . MongoDB — The database software maker’s stock popped almost 12% in after-hours trading. MongoDB beat on top and bottom lines and lifted its fiscal 2026 outlook. The company…
Citi has downgraded Constellation Energy after the power company signed a major deal with Meta that indicates nuclear plant owners might not receive that high of a price premium for their electricity. Meta agreed to buy about 1.1 gigawatts of power from the Clinton Clean Energy Center in Illinois for a 20-year period that begins in 2027. Constellation stock rose as much as 9% intraday Tuesday on the deal, before closing slightly lower at $313.03 per share. Citi now rates Constellation as neutral and high risk, setting a stock price target of $318, which implies upside of less than 2%.…
