Latest news with #ManyaSaini
Yahoo
3 days ago
- Business
- Yahoo
Firefly Aerospace sputters a day after stellar Nasdaq debut
By Manya Saini (Reuters) -Firefly Aerospace shares fell 9% in premarket trading on Friday, in what was perceived as a normal market swing, but the space tech firm's robust debut highlighted renewed investor appetite for high-growth listings. After nearly three years of a dryspell in new listings, a resurgence in high-risk sectors such as space, crypto and fintech — fueled by blockbuster entries such as Firefly and Circle — is expected to prompt startups that held back during market turbulence to launch public offerings. Firefly's shares opened for trading on the Nasdaq at $70 apiece, compared with the initial public offering price of $45. It closed the debut session roughly 34% higher. "Large pops and drops show an elevated level of short-term money trading around IPOs, be it hedge funds or retail. This has been a feature of the market in recent months," said Samuel Kerr, head of equity capital markets at Mergermarket. Post-IPO stocks often see sharp swings in the days after listing, driven by factors such as limited share float, profit-taking by early investors and shifts in broader market sentiment. "The fact the stock is still well above the IPO price, despite a drop in premarket trading today and that should hopefully point to a solid cohort of institutional investors serving as a bed-rock for the stock in its early days of trading," Kerr said. Firefly had priced its IPO above the marketed range and raised $868.3 million in the year's biggest U.S. space listing, marking a striking comeback for a company that filed for bankruptcy in 2017. Private space firms have drawn fresh investor interest as they play a growing role in U.S. military and civil programs, aided by NASA's push to contract out lunar missions and the Pentagon's demand for responsive launch capabilities. The sector has also benefited from government spending and commercial satellite demand. Still, it faces potential challenges from high development costs and long production timelines.
Yahoo
3 days ago
- Business
- Yahoo
Firefly Aerospace sputters a day after stellar Nasdaq debut
By Manya Saini (Reuters) -Firefly Aerospace shares fell 9% in premarket trading on Friday, in what was perceived as a normal market swing, but the space tech firm's robust debut highlighted renewed investor appetite for high-growth listings. After nearly three years of a dryspell in new listings, a resurgence in high-risk sectors such as space, crypto and fintech — fueled by blockbuster entries such as Firefly and Circle — is expected to prompt startups that held back during market turbulence to launch public offerings. Firefly's shares opened for trading on the Nasdaq at $70 apiece, compared with the initial public offering price of $45. It closed the debut session roughly 34% higher. "Large pops and drops show an elevated level of short-term money trading around IPOs, be it hedge funds or retail. This has been a feature of the market in recent months," said Samuel Kerr, head of equity capital markets at Mergermarket. Post-IPO stocks often see sharp swings in the days after listing, driven by factors such as limited share float, profit-taking by early investors and shifts in broader market sentiment. "The fact the stock is still well above the IPO price, despite a drop in premarket trading today and that should hopefully point to a solid cohort of institutional investors serving as a bed-rock for the stock in its early days of trading," Kerr said. Firefly had priced its IPO above the marketed range and raised $868.3 million in the year's biggest U.S. space listing, marking a striking comeback for a company that filed for bankruptcy in 2017. Private space firms have drawn fresh investor interest as they play a growing role in U.S. military and civil programs, aided by NASA's push to contract out lunar missions and the Pentagon's demand for responsive launch capabilities. The sector has also benefited from government spending and commercial satellite demand. Still, it faces potential challenges from high development costs and long production timelines.
Mint
4 days ago
- Business
- Mint
Hot or not? How recent high-profile US IPOs have performed
By Niket Nishant and Manya Saini A surge in equity markets and robust debuts from notable newcomers have fueled renewed enthusiasm for initial public offerings. Design software maker Figma and stablecoin giant Circle peaked at 333% and 864% above their IPO prices in the days following their debut, highlighting how eager investors are to get behind the companies they think are future winners. Here's how an ETF tracking major newly public stocks has fared against the benchmark S&P 500 over the past year: Below is a look at how some of the biggest IPOs in recent years have performed: The Northrop Grumman-backed space tech firm its IPO and priced above range to raise $868.3 million. Its stock nearly 56% above the IPO price on the Nasdaq. Design software maker Figma raised $1.22 billion in its IPO and on the NYSE with an eye-popping gain of 250% in July. Its shares are now trading about 6% higher than where they opened, and 174% higher than the IPO price. The financial technology company its IPO above the marketed range, raising $864 million in June. 59% higher on debut and is now trading nearly 22% above the IPO price. The stablecoin issuer raised $1.05 billion in an upsized IPO earlier in June, debuting with a valuation of nearly $18 billion on a fully diluted basis. Its shares more than doubled on day one, closing about 168% above the IPO price. The stock is trading 134% above its price at open. Robinhood-rival eToro secured a valuation of $5.64 billion after its shares surged 34% in their Nasdaq debut in May. The stock and cryptocurrency trading platform raised $620 million in an upsized IPO. Its stock has declined 19% since the debut. COREWEAVE: The AI cloud firm's Nasdaq debut was muted in March, but the stock has jumped nearly three-fold despite opening nearly 3% below its offer price. The Nvidia-backed company raised about $1.5 billion in its IPO for a valuation of about $23 billion on a fully diluted basis. The liquefied natural gas exporter raised $1.75 billion in its offering in January, settling for nearly half the valuation it had aimed for earlier. The company's shares opened nearly 4% below their IPO price in a subdued NYSE debut. They have plunged around 40% since then. The Thoma Bravo-backed identity security company's shares traded flat in their Nasdaq debut, valuing it at $12.8 billion. The stock has since lost nearly 12%. The Austin, Texas-based company raised $1.38 billion in an upsized IPO. The chip designer raised $4.87 billion in its offering in September 2023, valuing it at $54.5 billion. It had sought a valuation of as much as $52 billion. The company's shares rose 10% at the open. The stock has more than doubled since then. The San Francisco-based company, which is incorporated as Maplebear, was priced at the top end of the marketed range in its IPO. It raised $660 million at a nearly $9.9 billion valuation in September 2023. It had hiked its proposed price range and targeted a valuation of up to $10 billion. The grocery delivery app's stock popped 40% at the open and has since gained about 14%. The cruise operator's IPO raised $1.54 billion in April last year, valuing it at $10.35 billion. It had sought a valuation of as much as $10.8 billion in the offering. Viking's shares opened 9% above their offer price and have more than doubled since. The aircraft maintenance services provider notched a valuation of roughly $8 billion after pricing its offering above range to raise $1.44 billion in October last year. It had initially targeted a valuation of up to $7.69 billion. The Carlyle-backed company's shares began trading 29% above the offer price. They have since lost around 9%. The cold storage real estate investment trust raised $4.45 billion in its listing in July 2024, at a valuation of more than $18 billion. It had aimed for a valuation as high as $19.16 billion. The company's stock gained 5% in its Nasdaq debut at the open. However, it has fallen 46% below its price at open. The social media giant fetched $748 million in its IPO in March last year, which valued it at $6.4 billion — the top end of the target range at which it had advertised. Its stock opened 38% above the offer price, and has jumped more than four-fold since. The 250-year-old German sandal maker raised $1.48 billion and was valued at $9.3 billion in its IPO in October 2023, slightly lower than its target of $10 billion. Its shares debuted 11% below their IPO price but have risen 20% since. ** Note: Stock performance since debut is calculated on the basis of the opening trade ** Sources: Filings, LSEG, Reuters' reports This article was generated from an automated news agency feed without modifications to text.
Yahoo
5 days ago
- Business
- Yahoo
Global insured catastrophe losses hit $80 billion in first half of 2025, report shows
By Manya Saini (Reuters) -Global insured losses from natural catastrophes reached $80 billion in the first half of 2025, preliminary estimates from Swiss Re Institute showed on Wednesday, driven by wildfires in California and severe thunderstorms in the United States. The estimate nearly doubles the 10-year average and underscores how the insurance industry has faced a steady rise in weather-related losses in recent years, prompting tighter underwriting, higher premiums and renewed scrutiny of risk models. Swiss Re Institute said total insured losses for the year could exceed the $150 billion projection, with natural catastrophe activity typically higher in the second half due to the hurricane season. "Forecasts indicate near- to above-average activity, with three to five major hurricanes — above the long-term average of three," the report said. In 2024, Hurricanes Helene, Milton and Beryl struck the United States, devastating communities and triggering tens of billions of dollars in insured losses. ELEVATED CLIMATE RISKS Faced with escalating climate risks, insurers are retreating from high-risk zones across the U.S., leaving behind widening coverage gaps and exposing vulnerable communities to growing financial strain. The Palisades Fire swept through Southern California in early 2025, scorching more than 23,000 acres, destroying homes and businesses, and forcing thousands to evacuate. Swiss Re Institute estimates $40 billion in insured losses from the Los Angeles wildfires, the largest ever from a single wildfire event. Wildfire losses have climbed sharply over the past decade as rising temperatures, prolonged droughts and shifting rainfall patterns collide with suburban sprawl and the concentration of high-value assets, the report said. California's insurance market has come under growing pressure as insurers grapple with a range of climate-related risks, including wildfires, floods and landslides, prompting several to limit new policies or withdraw from parts of the state. Sign in to access your portfolio
Yahoo
5 days ago
- Business
- Yahoo
Global insured catastrophe losses hit $80 billion in first half of 2025, report shows
By Manya Saini (Reuters) -Global insured losses from natural catastrophes reached $80 billion in the first half of 2025, preliminary estimates from Swiss Re Institute showed on Wednesday, driven by wildfires in California and severe thunderstorms in the United States. The estimate nearly doubles the 10-year average and underscores how the insurance industry has faced a steady rise in weather-related losses in recent years, prompting tighter underwriting, higher premiums and renewed scrutiny of risk models. Swiss Re Institute said total insured losses for the year could exceed the $150 billion projection, with natural catastrophe activity typically higher in the second half due to the hurricane season. "Forecasts indicate near- to above-average activity, with three to five major hurricanes — above the long-term average of three," the report said. In 2024, Hurricanes Helene, Milton and Beryl struck the United States, devastating communities and triggering tens of billions of dollars in insured losses. ELEVATED CLIMATE RISKS Faced with escalating climate risks, insurers are retreating from high-risk zones across the U.S., leaving behind widening coverage gaps and exposing vulnerable communities to growing financial strain. The Palisades Fire swept through Southern California in early 2025, scorching more than 23,000 acres, destroying homes and businesses, and forcing thousands to evacuate. Swiss Re Institute estimates $40 billion in insured losses from the Los Angeles wildfires, the largest ever from a single wildfire event. Wildfire losses have climbed sharply over the past decade as rising temperatures, prolonged droughts and shifting rainfall patterns collide with suburban sprawl and the concentration of high-value assets, the report said. California's insurance market has come under growing pressure as insurers grapple with a range of climate-related risks, including wildfires, floods and landslides, prompting several to limit new policies or withdraw from parts of the state. Sign in to access your portfolio
