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Update 13 hours 18 minutes agoET 5:14 pm, March 11, 2019
Levi's hopes to reap nearly $ 600 million in IPO
From Jordan Valinsky, CNN Business
Jeans manufacturer Levi Strauss revealed more details in a regulatory filing concerning his next IPO:
- That's offering 36.7 million shares expensive between $ 14 and $ 16 per share.
- The company is trying to raise about $ 580 million to the upper range.
- Goldman Sachs, J.P. Morgan and Morgan Stanley are among the 12 members who have subscribed the initial public offering. Their number of shares has not been revealed.
- The stock would trade on the NYSE under the symbol "LEVI."
Nvidia buys chip maker for $ 6.9 billion
From Jordan Valinsky, CNN Business
Nvidia (NVDA) buys Mellanox (MLNX), a chip maker for data centers, for $ 6.9 billion.
"The emergence of AI and data science, as well as billions of concurrent computer users, is fueling a skyrocketing demand for the world's data centers," he said. Nvidia's president, Jensen Huang, said in a recently released statement.
- Mellanox shares are up 9% in pre-commercial trade.
- The shares of Nvidia are down more than 1% in pre-commercial trade.
Boeing shares down 12% in pre-market trading
From Jordan Valinsky, CNN Business
- Boeing (BA) shares fell by 12% in pre-commercialization phase following a second crash in less than five months of its bestseller, the Boeing 737 MAX 8.
- New: The Indian Ministry of Transport on Monday ordered the grounding of all Boeing 737 MAX 8s pending inspection.
- The Chinese aeronautical authorities have asked the country's airlines to stop all their Boeing 737 MAX 8 ground, stressing the need for "strict control of security risks".
- Boeing has postponed the debut of its new 777X jetliner scheduled for this week
- The situation threatens to tarnish the reputation of the American aircraft manufacturer for safety.
Tesla raises prices and changes course on store closures
From Jordan Valinsky, CNN Business
The decision was made less than two weeks ago: it would start closing most of its stores to a cost-cutting measure designed to help reduce the price of its best-selling vehicle, model 3, to 35,000 $.
The actions are more than 1% in pre-commercial trade.
Here's what's happening with the markets now
From Jordan Valinsky, CNN Business
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