The company valued the IPO at $ 72 a share on Thursday, valuing the company at about $ 24 billion. This is higher than the expected price range of $ 62 to $ 68 per share, which implies strong demand from investors.
This year is emerging as a technology IPO-bonus, with market debuts being anticipated by companies such as Uber, Slack, Pinterest and Postmates.
Lyft's IPO may be leading how these companies will be received by investors. In particular, Lyft will almost certainly be seen as a proxy for Uber, which is a much larger business.
Lyft's net loss rose to $ 911 million in 2018, which is more than any other US-run losing in the year before the IPO. Uber said last month that he lost $ 1
2. Wells Fargo's CEO suddenly resigned: Wells Fargo CEO Tim Sloan withdrew when the bank struggles to overcome scandals.
Wells Fargo shares rose by 1.5% in premarket trade 3. Huawei's profits: Huawei's profit rose to nearly $ 9bn a year ago, powered by the thriving smartphone business, but the US-led campaign against the company is weighing on sales of telecom equipment. profits increased by 25% to 59.3 billion yuan ($ 8.7 billion). The sales did not reach an earlier forecast, but they still jumped by 19.5% to 721 billion yuan ($ 105 billion).
However, there are signs that US efforts to stop other nations from using Huawei's equipment in telecommunication networks may have an effect. Huawei's sales of carrier equipment fell 1.3%. 4. The largest negotiators from the United States and China concluded their Beijing meetings aimed at reaching a trade agreement between the two largest economies in the world.
US Secretary of State Steven Munchin described the discussions as "constructive" in a tweet and said talks with Chinese Deputy Prime Minister Liu would continue in Washington next week
Since the beginning of 2018, the two governments have been locked in escalating trade war where hundreds of billions of dollars were plagued
Hopes of a forthcoming trade deal were recently backed by reports of a possible summit in April between US President Donald Trump and Chinese son Jinpi d
7. This week comes: