foods are announcing the long awaited ipo. the shares are $22 to $24 and the largest food distributor out of cisco, and the distribution to begin may 26th here at the new york stock exchange and why is this important? size. $1 million, and most are only $1 million and this is a $1 billion ipo. and a sign of confidence inty, po market, and more important news with the ipo trading, opening up moments ago, acacia communications opening after meeting the highest range. this is the second ipo priced well in the last two days. and yesterday we had the landscape supply which is the biggest distributor of landscape products, and they finished at $30 at the close after pricing at $21, and so two successful ipos and a big one just announced. carl, the market is starting to open up for ipos. >> a good thought. thank you, bob pisani. it is 11:00 in cupertino and we are live with "squawk alley." ♪ i'm going home when i want to go home ♪ ♪ i'm going mobile ♪ keep me moving ♪ i'm going mobile >>> good to have you with us on this friday. kayl

foods shares today's ipo.feel alive"♪ ♪jake reese, "day to feel alive"♪ . >>> i'm courtney reagan. president obama sitting down for a working lunch at the g7 summit meeting in japan. high on the agenda, the sagging world economy and what to do about it. iraqi soldiers were camped on the outskirts of fallujah as at the continue their efforts to retake the city from isis militants. the city, about 40 miles west of baghdad, has been under isis control for more than two years. mount sinabunk erupting again. it had been dormant for four centuries before springing to life in 2010. more than 4,000 people have been forced to flee. a pair of mellons sold in japan for a record 3 million yen. that's approximately $27,200. they are considered a delicacy in the country. i guess so. now to jackie deangelis with the eia data. >> the eia out with its weekly net gas storage report. there's two issues to think about when it comes to nat gas right now. demand is going to pick up as temperatures are increasing across the country

that's what it looks like with the ipo. a government privatization program, as well is trying to hold themselves up as a standardbearer of the ipo well aswill stop -- as trying to hold themselves up as a standardbearer of the ipo process. manus: i am going to play a conversation i had with the executive chairman of templeton emerging markets, earlier in the week. he says saudi arabia must make -- for to enter investors to enter into the market. >> the issue is the freedom to go in and invest as much as you've got, and to get out. you have to find problems, which china has as well. finally now, china is beginning to open up more and more. but it is necessary to open completely and allow investors to come in and house that there will. reporter: can we expect foreign investor status from you? >> it's possible. we are running open-ended funds, so we have to get in and out. this is a real problem. it is possible we will want the qsi, but it will be very limited. manus: it is amazing, this momentum we have seen. it is all about g

ipo looking possibly at an in new york. chinese shares have hit a two-month low after a disappointing april. it highlights the challenges for those trying to reform the economy, cut capacity and encourage credit. tom joining us from beijing. what is the data telling us? tom: it tells us that some of the main drivers of the economy are calling for a reversal origins -- of fortunes for march, when we had a slew of data. taking a look at this, we track gdp on a month-to-month basis and what we offer april is .9%, ust below -- x .9%, just -- 6.9%, and putting flesh on the bones of this story, we got industrial output at this point a percent from april. -- 6.8%. and the government says that was due in large part from the slowdown in the coal and deal sectors -- deal sectors. in retail sales is a big part of the picture. chinese consumers have kept their hands firmly in their pockets, particularly when it came to car sales. they were up 5.1% in april, but will of the 12.3% that we saw in march. and then it was assets -- fixed bee

if you had an ipo in '08 or '09, yo you would have done bet ter. so it is flat for the average company return, and facebook has been pretty good, but not the best. obviously, yelp, and most of the gains that ever happened were on the first day, and it was up 65% that day, and flat given the ups and downs. >> and the other thing, is that by the 2012 ipo class, you select names? >> yes. select. >> facebook has a larger market cap today than all of the others combined? by far. >> and yes sh, it is in the earnings and the wageworks in the market cap, and wageworks is a $2 billion company. >> and the entire 2012 ipo class was $52 billion so it had one-third of the entire year's. >> but you have a much bigger market cap, and much larger investor base with facebook than any other names like faceworks, and so you don't own facebook though? >> no, i don't. the way i look at the names now is that i ask myself, if i am putting dollars to work today, what is the growth thesis for facebook to sustain the multiple, and we have people using it for 55 minutes a da

potentiallyt them ahead of the uber ipo. what does it mean for their plants with the chinese market? guest: look at where they are right now and they have raised $3 billion at evaluation, according to the sources. it puts pressure on uber. they will have to up their game and globally. i think we lost the line. thank you very much. basics withgh the that in china. go and why where to japan may be running out of monetary options. that is next. 9:46 in the city that in new -- that never sleeps. driving the are market and we will talk about that. we have the is this flash. >> thank you. we are talking about the chinese york.d the ipo in new time where they see how this plays out. the nintendo shares have risen as the company confirms they are in the works to enter the film business. they will use cash from the sale of the seattle mariners team. the bank of singapore says that they are shifting the model at the expense of charging wealthy client commissions. they say that it is a time of and talk about preferring the relative con

ipos since 2008. is there an end for that ipo drought? ♪ >> "bloomberg markets."oomberg markets." i'm scarlet fu. alix: i'm alix steel. the communications network company is climbing more than 30% on the trading deck. acacia it is one of the 25 ipos this year. let's go to our colleagues and radio. >> joining us now is cory johnson and carol massar. the ipo business is what you do over there. i am not calling you old. i am guessing you have experience. you have this really interesting period with underlying changes and a slowdown from last winter into the early part of the year. what are you seeing now? >> it has been a pretty elusive ipo market. only 23 deals high-priced year to date. 64 deals the same time last year. it has been incredibly slow and we have not seen a lot of activity. we are starting to see a couple of deals and a last few weeks to give hope there is more by them to come. the secular changes in the market, but maybe the window are capital market. what are you seeing in the capital markets leading to a slight opening? improvement inan the capital m

basically raising $1 billion in this ipo.e to $5 billion. $4.9 billion to be exact. another ipo preparing to file. maybe as soon as june. it could value at more than $2 billion. listing comes around five years after cushnet under pressure from ackman to sell off from the korean buyers. >> thank you, susan. we've got to ask the question, is the ipo market starting to thaw. this is a key one because it's so large. >> i think it's interesting. let's call it the canary in the coal mine. if the market continues to move higher, not my view, but if it does, you'll see a lot more of these, and the market will be able to handle it, in terms of what you don't want to see is a flurry of these. similar to how it happened in china. not suggesting that a bunch of ipos would knock the u.s. market down. for now it seems okay. >> cushnet, i didn't know that was the parent company of titlist. but it's interesting the timing of a golf ipo. golf in general hasn't been doing -- >> remember jordan had a merger. that's what this reminds me of. the

and now, will the fed rate hike be an ipo killer? to look ahead to see more biotech companies to go public, and more tech companies, too, and that is important because they are the ultimate growth companies that investors want, but they have been shying a wai away from the money-losing companies, and so they may have to reposition themselves as companies that are near profitability, and among the ones to watch is twillio, and that is on the disrupter list and nutanix and acushnet who makes golf balls. and so these are expected to come public, and now, 102 companies according to renaissance which could raise $126 billion. back to you. >> thank you, very much, mary. and now we want to go to post 9, and s&p is telling us that the majority of the deals are trading above the offer, and the limited gain of 20%. but it is above the win toe? >> yes, as mary said it is certain industries and company, and one of the dominant themes is that companies owned by the private equity and former leverage buyouts need to exit, and that is us.foods, and

the biggest ipo of the year -- royal philips raising 750 million euros and ipo of its lighting businessr shares in the middle of the range at 20 euros a share. that is where it started the day. they are at 22 euros. of the 25% stake valued the company at 3 billion euros in the ipo underscores the shift from making equipment and consumer goods for the global health care market. what a day. what a first day for philips lighting. interesting day for the steel industry. steela's biggest company had its price target raised from 34 euros. that is on higher 2016 estimates. earnings are rising due to strong momentum in the eu. it maintains a hold rating on valuation grounds before today. earlier today, the world biggest steel company was up for a fourth consecutive day. it was on a four-day advance of 60%. some of those games have come off because today it is down by 1.4%. i want to show you the mouthful that is the bloomberg correlation weighted currency index for sterling because this is the best performing major currency this week. it is up by .9% and rising for the fourth week versus its ma

in the ipo and road map to peace, these are not new programs. we are not announcing these as new programs, but we are announcing is a investment in what has worked and discardment of what has not worked so we get emphasis. the ipo program i watched for the last years and have done a tremendous job with the age group fraup 10 to 18. we have gotten a lot of young people to turn their heads to work with us while we build trust and get them engaged and supportive to scholarships to family support to trauma intervention to skill sets that give them a real good chance to be involved from paid internships to city jobs to semi public private job. in evolving this we wealized particularly in the bayview as input has been giving to us by reverend brown there is a segment we are missing and thereat is the age from 18 to 25 and that is a difficult age group to intervene with because of tremendous amount of barriers built over time and deeper level of mistrust and harder cultural to really engage them. that will be our center piece for this particular round

i have gone into the western ipo market. there has been 11.1 billion euros of ipo's. of the list is philips lighting. it hundred $64 million. the average move of all of the companies listed from their first day to today is 7.8%. just some of the data you can discover on this wonderful function, ipo . luxembourg-based satellite servers provider funded and acquisition of the rest of the satellite provider of three -- oc three. kettler says it is risky. we do not like it, it says. it cost its price target to 18 euros versus 26 euros. we are at 19 euros. the shares today, the biggest decline on the stoxx 600 down by 11%. shery: thank you. let's get to bloomberg first ws.d nee >> president obama has become the first sitting president to visit a city destroyed by a nuclear bomb in hiroshima, japan, and 1945. mr. obama said he was there to mourn the dead japanese and americans. obama: since that day, we have made choices that gave us hope. the united states and japan forged not only an alliance but a friendship. emma: japanese prime minister shinzo abe praised president

khalaf: we are not going to ipo. reason is because of sympathies and i don't want to do -- not because of any technical thing our financial thing. or evaluation is huge. compared to anybody -- we are transparent. are transparent public company and we take all -- very conservative rules. i think we will look at this may be at the end of 2017. manus: can i ask you, saudi is opening up. get uae families will hold assets, how do you encourage them to consider it is time to go into the market? i think it is the right time. they are bigger than public companies. this is not the right time. everybody is waiting for a while. interesthem have the to go public because of reasons. dividends --ribute if i am handling it myself, i don't care. that is my company. can carry that she each company can carry the other. uae -- i do not think they will go ipo. [indiscernible] we have 30 seconds so i need a short, sharp answer. , would that create ?pportunities for you what a brexit offer opportunity for you? khalaf: we are looking to di

didi is denying these ipo claims. first of all, let's start on the ipo. what do we know?the report is from us, 2017, we could be considering an ipo in new york, depending on the competitive environment with uber. there is definitely some wiggle room. emily: didi has denied the report. eric: it is still pretty speculative, but it sets up a timeframe for when we should be thinking about an ipo. emily: you just spent several weeks in china, and i know you use both services. what did you think? >> i think it's pretty clear that there is one service that needs to work on quality a little bit. uber does have some ways to go in terms of quality. emily: how so? >> drivers arriving on time, knowing the city. didi has a little bit more of an edge because they are supposedly paying higher wages, therefore getting drivers who know the city better. these are all telltale stories in beijing. people tell you where a lot of drivers come from, far away, and they come to the city for the first time. they don't really know the city. there is a lot of work to be done. emily: i was in beijing

i think the ipo is what people need to focus on. emily: how do you manage that early stage of the company, and how is that for people that have been committed for years and years and have not seen an exit? phil: it is tough. the best motivator of talent and financial. it is always a distraction to think about your share price. whether it is private or public. and the secondary, if you handle it well, it is a nice way to even out some of that stress. emily: well, it is a story i know that eric will keep following. eric, thanks so much. mel, you are sticking with for the hour. new story, repricing stock options without shareholder consent, a move that is a urgent in the event, or in an option exchange program. the decision is meant to protect shareholders, while providing an incentive for talent stay at the stock price of twitter stumble. remember, back in october, ceo jack dorsey handed over a third of his twitter shares trading at around $30. they closed $14.43 on friday. coming up, applied materials shares soared the most in seven

there were no ipos in the first quarter. six i scheduled this week, making for a total of 16 for the month of may. jonathan karp! on a senior manager says this week's market gained, the ipos are white and treadwell tied among that. >> we haven't had a lot of ipos this year. good to see that money on the sidelines, the companies have been waiting. lauren: may will be the busiest month since last october. nicole: coming up, you want to avoid the long lines at the airport, right? sign up for the tsa pre-check option. maybe not so fast, literally. >> rechecked wasn't open so i had to wait in a long line with everybody else. nicole: they don't call a tornado alley for nothing. severe weather across the plains states in the midwest. we will have a live report from fox meteorologist maria molina and kansas. let's check out u.s. stock market futures for you this morning. right back out pictures of 14, nasdaq futures up for. you are watching "fbn:am," your first look at morning markets and breaking news. ♪ and lauren: welcome back to

i've done everything, three ipos, secondariries, acquisitions, never done an lbo and gone private. i was curious and i've been able to recruit the best people you can imagine in the industry. i got a new chief strategy officer who had been sisco 20 years and new chief marketing head of world wld marketing the emc. they are having the chance to build value and work in a great company. >> is part of the reason for the attraction is that there is another exit down the road? what's next? >> typically when you go private, you stay private for a three to five-year window. we were a little unusual in that we actually gave new fresh stock in the company, every single employee 100%, which is not the norm but that was important to me as a silicon valley head quarter to keep that part of the culture going. we're in a year and we may be as close as 24 months from the next ipo already. >> and you've nailed pretty good quarters already. >> yeah. >> made the place look attractive, put on a fresh coat of paint. >> we pivoted and sold the division to pbroe cade. consolidated some product lines. i b

aren't we talking about a different wrapper on an ipo? >> no. i think that the regulations around ipos have made them untenable for companies in that range. and so i think that companies somehow have to be tradable. new technologies have come along and more regulations. and so we need to sort of think about how the regulations and the new technologies will merge over time. for now, though, i'm not encouraging any of my entrepreneurs to think ipo. it doesn't make any sense. they should be thinking in terms of building a great wonderful company that's profitable and can grow and that down the road these companies should be tradable whether they use the block chain for trading, whether they use electronic shares or whether it's second market or -- i think new technologies are going to come along and they're going to make it so that these companies are much more easily tradable at an early, earlier stage. and then i think it will be up to the people of the government to decide how much regulation they want to keep imposing on public companies. if yo

ipos. ipos. oips >> always fantastic to hear from you. now hear to tell us everything about what's been going on in the asian markets. sri. >> yes the turmoil associated with the air bag recall and takata doesn't seem to be abating. no sooner do we get some sort of restructuring idea due to the fact that yesterday we learned kkr is taking a 60% stake in takata lazard bank may be helping with cash injection today. we learned the recall is expanding. another 7 million vehicles in japan alone. so that takes the grant total of vehicles recalled to just under 20 million in japan alone. so what this means is that there is going to be potentially more recall costs, potentially more litigation. and a higher bill at the end of the day for takata. so kkr and lazard really have the work doubt for them. no surprises there. and we went limit up yesterday and now we are down by 8% for takata. >> broadly. solid picture in the asian markets. but we are in something of a holding pattern until we genoty get some clarity from q1 and hear from janet yellen a

, and when the ipo one doe thaws out, and it starts to ramp up, how the investors get a shot at thosetwitter, bob? >> so back to twitter. we are recommending the stock after coming down hard from the highs of the 50s to recommending it at $20 or so, and we were early on this one, and one thing that we like, they have a number of levers to tap into it, whether it is integration of the double click, and the google search, and on the risk/reward basis here you are talking about the $12 downside risk which is twice the ebida risk. and it is also an m&a candidate because heading towards the end of the year if it does not turn around. >> really? who is a natural buyer,ed a it has been argued on our air that google has the hands tied for the time being in europe, and who is after them, and what p percentage of your recommendation is based on that the optionality? >> well, the real part of it is based on the upside/downside and quantifying the downside at 8 times where the ebidta is where the companies will bid. and so the monetization, and the brand dollars will shift back over, and the peri

before the ipo they had revenue growth in the 40%-40 5% range.out 33% revenue growth for this current fiscal fourth-quarter. investors want more and more clarity as well on margins. alibaba has been on acquisitions spree. they bought a big stake for southeast asia in e-commerce. they want to see how they will monetize that investment. and going even further forward, perhaps an ipo for ant financial, the owner of alipay. he could unlock a lot of value for alibaba investors. this is a division that is valued somewhere near $60 billion. there is a lot of unlocked, untapped areas where investors are hoping to get more clarity. emily: what about all the acquisitions that alibaba has made across a lot of different areas? how successful have these acquisitions actually been? stephen: yeah, they are going into a lot of areas. video content, movies, the south china morning post. jack ma but that newspaper in hong kong. he is really going into a lot of different areas. he has stated he wants about half the revenue to come from overseas eventually. overseas

or should they have never gone ipo in the first place? shira: it is a mix.as really surprised when i ran the data for this column you mention, more than half of the tech companies going public since 2010, five-plus years, more than half of them are trading below the price at which they first told stock to the public -- sold stock to the public, and that is not much of an incentive to investors buying shares or the executives and other insiders of those tech companies to go public, because we have seen the market conditions have not been hospitable to young companies, especially ones that cannot make their numbers. ramy: keith, what is your take on all of this? is it about market conditions, or if the company should never have gone in the first place? keith: many of these copies are great companies, great opportunities. however -- and they have the option to go public whenever they want. however, there is a disconnect between the prior round of financing and the valuations they achieve in the liquid public markets, so they have to swallow that disconnect if t

why did investors snubbed this ipo?as set up to ensure for theuld be a buyer shares as it became apparent in recent weeks. and individual and but -- money managers and investors would not buy up. a stock sale demanded by european regulators and faced a very firm deadline. it now focuses investors on what's next. this is a difficulty that they will be having. more partly, it was set up with a dual role of backing fundraising by banks, but also to soak up some of the bad debt that is weakening italy's lenders. there is a pile of bad debt that the fund was designed to soak up. with so much of the fund's assets focused in the bank's equity, some are wondering if there is enough to soak up the debt. mark: what his plan b? is plan b? if there aren't enough funds, what happens then? early to tell. the expectation is that they will put funds to use to buy up some of the loans and that will ease pressure on some of the other lenders that were weakened by the fact -- of $1 billion. put it into context. it versus the ones he typic

ipo. talk us through the details of that. dede might belike trying to escape the traffic jam of the mainland chinese ipo process and go to market in the united states as early as they can to raise the funds they need for the next stage of expansion. theink one thing which excitement around this story underlines, contrasting that with the concern about the growth data that we saw over the weekend, is that this is now a two-speed economy. so much as an is him about the industrial sector, so much optimism about this technology-driven consumer economy. is, do theestion consumer driven firms, like didi, do they have escape for the city, or are they going to be dragged down by the weakness in steel and heavy industry and exports? thank you -- francine: thank you so much for all of that analysis. if you have twitter, go check out tom's twitter account. he puts some great stuff out there. our next guest has concerns about china. let's welcome michael metcalfe, global head of microstrategy at street street global markets. i made a spe

desert: the current ipo could spell trouble for tech. andhave that could spell trouble for the whole industry. just one tech company has gone public in the u.s. so far this year. it is practically unprecedented. the fewest tech ipo's we have ever had in a single year was six. in 2008, through the financial crisis. if this year keeps going as it has been, we could set a new record. people in silicon valley could start to worry about the drop-off in tech ipo's, and here is why. onestors have that -- bet tech companies. this is happening already. the amount of money invested in startups has fallen from a peak about six months ago, so why are we in this ipo desert? for one, about half the tech companies that went public in the u.s. since 2010 are trading below their ipo price. .ust look at twitter or go pro it is hard to sell investors on new stocks when too many got burned betting on the last ipo 's. 150 unicornse than -- silicon valley jargon for a orrtup valued at $1 billion more. many of these companies would be worth far less if they tr

ipo next year. now, when it comes to these plans. >> the plan is to ipo as soon as next year. they have decided that it will be in the u.s. and they have not retained bankers or decided on a specific timeline. but what this means is that it will come on the heels of apple investing $1 billion into the company, so bringing the total amount raised to about $3 billion and the valuation to 26 billionillion -- dollars. yvonne: what does this mean for uber? they talked about in ipo plan, but said they will hold out. >> this probably means that did theml raise ahead of come is that they do not target the same pool of investors at the same time. in terms of fundraising, part of the reason they have been so aggressive, as a preemptive move for investors not to invest in their competitor. it will place a huge amount of pressure on the competitors and also the fact that didi has an alliance with lyft overseas, forming the alliance overseas as the all -- on all fronts. it means uber will have to of the game. yv

ipo. it is in the process of raising $3 billion.includes apple, a big part of the story that it is trying to deal with its main rival. lulu, talk us through what we know about the ipo details. >> so what our sources are telling us is that the company is targeting an ipo as soon as next year. there is no timeline, i and bankers have not chosen exchanges, but the destination is most likely in the u.s.. at this point, they are raising $1 billion from apple, which brings the total amount of fundraising they have to $3 billion. over, that would mean a tremendous amount of pressure on the company, as they have already tried to do this as a preemptive measure for other investors, to put money into uber. guy: so what does this mean for them? talk us through the ramifications. >> in china, they are one of uber's largest competitors. they have operations in more than 400 cities. uber is targeting more than 100 cities by the end of this year. they are profitable and more than 200 cities at this point. the company does have an international --

. >> we talked about the story since that ipo in september of 2014. share win up to about $120 in -- and the euphoria. it has lost one third of its value. it is only eight dollars above its ipo price at a year and half since then. it has not given a lot of return to investors even though profit has doubled in the last year. they posted which has beaten expectations. rishaad: they're not buying it for some reason. this is the reason why. the white line is the case of revenue growth. it is misleading because the size of revenue is so much larger. rishaad: exactly. >> investors want so much. pre-ipo they were getting 45 percent revenue growth year-over-year. you're not going to get that. what we are expecting is a 33% rise year-over-year in the fiscal fourth quarter which is pretty good but -- >> it is equal to 20% growth in 2012. >> they are getting total merchandise value through mobile shopping. that is increasing. they are getting better ads and retail sales have an improving even in the -- the slowing economy. --estors want to see news on return on

coming up, the third ipo is very brave. if that goes well, maybe the ipo window will open again.getting the $500 billion the unicorns are out. you mongrel we were talking about how much harder it is to get this billion dollar unicorn badge. in your eyes is it a blessing or a curse? matt: it is not that hard. if you can construct the term sheet you can for the valuation where does. for some companies they deserve the billion-dollar status. many others do not. it is a vanity valuation. yvonne: let's talk about the startups down under where you are from. you have talked about the us trillion economy stuck in the stone age, literally. how are they in terms of embracing technology. do you see the shift away from mining has led to a drive and innovation? -- in innovation? great tech companies have come out, but we have had a crisis in terms of financing. they missed the first big wave of the first.com them. boom.m -- companies took a while to come out of the pipeline, but companies that have come out no how to survive. they didn't raise a ton of money from investors, but instead they a

the ticker for the lighting is this that has spun off in an ipo today is light. taking a look at the original philips, raised 750 million euros is what we heard yesterday and that ipo. lighting starts trading at 21 euros. a little bit higher than the ipo price. stocks stocks -- philips appears to be gaining. moving on to axa. the sale of its business will generate a loss of 400 million euros. it agreed to sell its u.k. investment tensions to phoenix group. the transaction expected to complete in the second half of this year. up slightly on that news. roche looking at here, moving up higher at 4%. this is after the news after a group member of the roche saying it showed superior progressive just superior progression. -- superior progression. some good news on the drug, pushing that stock up. matt? matt: thanks very much. i want to bring back in michael krautzberger. michael, i want to draw your attention to a chart i have here. you volume. it is equity volume in gray over the last year. here we see the last friday before memorial day weekend. i want to illustrate

in an ipo. how did you do it? >> we crafted the ipo with the investor in mind.e knew margaret was rugged. ipo market has been lousy. we created something that was irresistible. we wanted to raise about $1 billion. we had $11 billion of demand and brought that puppy public. and it is up since. >> and it looks line if you don't want the ups and downs of gambling and gaming and hospitality, this could be a steady income stream. >> this one is for my mom. she's been after me for years. why don't i pay dividends? so a 6 plus% yield. i think the a dividend, it is set up so it could just about double over the next five years. and with great acts of quality and great corporate coverage. dave way to play mgm. a yield producing way. >>> and it is a large read. it could be very quickly involved in the index which might up it again. >> largest triple net read is o. and -- >> that's -- a rocket shipment. >> that has about a billion dollars of cash flow. we birthed this with $550 million of cash flow. i think ours will be bigger. i think it will be the biggest five years from

ipo advisor has its already on the exchange a short list, along with goldman slacks.hs.hange -- goldman the exchanges planning to go public by 2018. as. stocks trying to avoid third day of losses. julie hyman is standing by. julie: thus far, stocks not succeeding. bowery is down chicago at the cboe. when we look at the action we see today, but also over the pastoral days, is this an indication of what we are going to see more of once earnings season is over with? scott: i think it is good not necessarily just this small, grudging move to the downside. i think we will see it both ways. volume is pretty lackluster. the vix isn't moving around too much. it hasn't really moved today even though the market has traded in a 100-point range, the dow had. we will see this continual grind here. what's next on the table that is going to make something happen in the market? is it going to be something happens with oil and oil prices move significantly in one way or another? we have this foregone conclusion of the two candidates. that is going out to november. so what's it going t

>> it is the largest ipo of the year. inis the third-largest ipo world history. we tried to raise $1 billion. we had over $10 billion of demand. the price range was 18 to 21. it isced it at 21, trading up from there. it exceeded our expectations and we are very proud. mgmresorts owns 73% of growth properties. they have a great management team, the ceo and cfo there. kickinging forward to back and watching them make us a lot of money. carol: it sounds like a good plan. anything left in the restructuring of your balance sheet after this ipo? >> we also sold crystals at a remarkable 4.2% cap rate. that isa retail center, the largest retail sale in over a decade, we just close that sale. the combination of that sale when we received $540 million dividend from that means we have reduced that dramatically. i predict we will be an investment grade rated company within the next two years. that's why i like going in on mgm stock. it's good to be us right now. carol: thank you. the chairman and chief executive of mgm resorts international. coming up in the next 20 minutes,

what does it say about the state of ipo's? really the fault of the ipo, this bankruptcy?> some of the people say yes that is because of fairway went hugethis in 2013 with promises for equity investors. they had 12 stores at the time and they came out and said we have the potential for 300 stores. that is 2400 percent increase. they came out guns blazing and some of the people said they set these really high expectations for themselves. they overpromised and they did not deliver and some of that push for them forced them to open stores that were too close to other locations. potentially they missed out on some of the industry trends and did not square up with the competition. the need to perform potentially posted them too far outside of what they should have been doing. that sounds like bad management decisions, not necessarily because the company was public. are you saying they had to expand quickly? alex: a little bit. management are the ones who set the expectations. they said this is what we're going to do and they really could not get there. there were some other ext

's new and existing shares in asia's second biggest ipo this year. -- asia's second-biggest ipo thisear. there was a default by one mdb in april. fei company is being investigated around the world for alleged money-laundering. db consistently denied wrongdoing. shares in virgin australia are searching at the open on the asx after the airline announced that china's would take a 30% stake. let's go to paul. what are the details? paul: it has been called a strategic alliance. is h and dayhat buying a 13% stake in virgin. 139 million us trillion dollars worth of new shares. they are paying $.30 per share for those. it is going to give them a sizable chunk of virgin australia. they intend to expand that over the coming years to about a 20% stake. hna full also be invited to nominate a director to the board. the deal is still pending. timemes at an interesting with air new zealand saying in march he wanted to get out of their stake in virgin currently holding about 26%. we do have virgin shares up, very healthy, 5.3% this morning. it has been an underwater -- underwhelming investment for a

ipo's is one of the many options for us.tid grab might consider in ipo when the number of rides books reaches 2 million a day. where are you now and would you reiterate that today? anthony: today, we are doing quite a large number of transactions. emily: 2 million? anthony: not 2 million yet, but we do see, again, ipo is one of the many options on the table. emily: ok. we have been seeing a lot of new players entering the ridesharing investment market. toyota investing uber. volkswagen investing in gett. gm investing in lyft. apple investing in didi. what do you make of all of these? /anthony: i think automakers are getting very excited and believe right healing -- i think everybody in the world is seeing ride hailing is the new form of transportation today. we are always open to great partners. these partners could add value. for example, we saw car automakers investing in that space. we are talking to a lot of them. emily: i was actually going to ask that next. are you meeting with automakers right now? anthony: we are mee

an ipo? ipo beer? ipa. ipo, ipa. i'm older. there is more ipas than ipos. i have to tell you. when you look at how similar it is, it's nuts. not much more expensive than molson coors at 18. they sell for 21 time earnings. far worse than anyone el in the industries. because it is not, you have to stick with constellation brands. i think moleson comes in second. but has too much noise. and boston beer, just plain ugly. let's take some calls. let's go to glendening a in south carolina. >> caller: hi, jim. good to talk to you. my call is with regard to jack in the box. i'm wondering. >> i see it wasn't so good. jack in the box is up against that guy steve easterbrook. he is superman. steve superman easter brooke. it i like them. they're not going to continue it off. chipotle. do you think there they pick up any business? ann marie in new york. >> caller: thanks for taking my call. why is a company like the group also in the real estate business and how does that affect the price of the stock? >> well, they're in it because it is income pre hencible and dumb. honestly. they should

on top of that, some recent ipos have not done well in the aggregate. look at companies like fitbit and gopro. upset thatinvestors they are unable to cash out? guest: it is kind of a problem. if you are a venture capitalist and you have money tied up in some of these companies, you eventually want to get your money back. heard anyone say definitively that they are getting antsy about their money getting stuck. betty: what about fred wilson? guest: fred wilson was very vocal and what he said publicly in response to uber staying private as long as possible. -- he usedchicken some choice language which we will not repeat. but basically i want my money back at some point. don't be scared, go public. betty: he said it uber should be a public company. at over $60 billion, should it be a public company? guest: we are in uncharted waters here where you have five $60ompanies valued at billion plus and we don't know what to do. some of those people who invest in uber early on want out eventually. , there have been enough investors willing to buy shares privately,

the gigantic ipo is the centerpiece of his 2030 vision to mean his country off the black stuff. the record $2 trillion price type could ever be reached. some people say the value is only in the billions. oil prices volunteered -- volatility means others are watching and waiting. political instability also means investors are unlikely to put their hands in their pocket. they are mostly in regions where sunni conflicts are high. >> for a closer look at that, let us bring in our correspondent. the oil price is bucking expectations. >> the oil trade remains a highly volatile. we still have this massive wildfire in alberta. so far as we know, one million barrels per day are affected. usually you would guess that this would put it the price of oil up. but they dropped on monday. we also have a new oil minister. this is one of the unknowns. it is very shaky. collects in another subject, they are watering over i gigantic deal. >> the german ryman family has done it again. they decided to buy curate coffee. now it is going to do it. the rhyming family are agreeing with krispy kreme dough

before the ipo and here we are, two years after the ipo and how much time do you have to do, and onlytarting to disclose, and meanwhile, the stock has gone up, and down and all over the place. >> it is up 14.5% since the ipo, and we should point out clearly that it is possible that the company did nothing wrong, and that the s.e.c. investigation yields that fact. he herb, folks might know you in the past life as a reporter. now, you run this pacific square research, and do these kinds of investigations for your clients who pay for your research. i u am curious, do you have a position in alibaba today or -- >> oh, god, no. no, no sh, no. >> and your clients? >> no, we are not activist short fund and we don't take any positions in the names we do, and much of the stuff is under the radar and we keep it that way, and our interest is coming out the look at it. look, i have said it before and i said it the last time i was on the show, my partner is phd in accounting and certified forensic accountant and he has seen a lot in the past 25 to 30 years and as a journalist who has covered a lot

getting instead is that i saw a little study that said that since 2010 in total raise ed d in the ipos, 4% havee to chinese companies, and that is crazy. we are, where silicon valley is so wrong and hurting the economy is that we have to get them thinking again that, you know, to take the companies public, because the market needs them and donald is 180% wrong. >> and why are people like peter teal backing him? >> well, you know, some people just get so tribal about the politics. it is a hate hillary or a hate trump, and we refuse to look at the actual data, and we refuse to look at the actual issues. we make these things flashpoints and then we stop digging if in. you know, i have said it before about donald's campaign, and it is the "seinfeld" campaign, the c campaign about nothing. he se smart, because the more he gets into the details the more the followers and the tribe, their eyes glaze over and so it is to his benefit not the do it, and hillary is just battling crooked hillary and battling the pejorative comments about her, and we never get into the details. >> mark, it is carl

the worst first week performance of any ipo in a decade.ven though it had over 900 million acts wall street was wary. >> we have to figure out if facebook can grow as fast agency the size of its offering. >> reporter: for good reason, the company admitted that the user shift of smart phones and tablets was biting into it's ability to make money for advertising. and the hoodie stir. being called quote a mark of immaturity. for four years on the mood couldn't be any more difficult. zuckerberg has raided hood dis for a more streamline t-shirt. facebook shares hitting an all-time high on the back of its stellar earnings numbers. mobile advertising accounts for 82% of total ad revenue and analysts agree there's still room to grow. >> facebook still accounts for 3% of ads globally is there a coach that suggests it could rise? yeah, it's google. google is 11%, 12% of all ads globally. it's a big if, if facebook continues to increase at this level, you could see a tripling of the growth rate. >> reporter: even with all the success, the company stil

. >> and raising just over $1 billion in the second largest ipo this year. the food distributor is the thoird have a raised more than a billion dollars since the start of last year. >> and titleist. >> titleist. >> you're not a golfer. [ laughter ] >> no i'm not a golfer. i just invented a word. the golf brand is reportedly working with a number of banks to drive a u.s. listing which could value the company at around $2 billion. >> you help me with the danish words. i'll help you with the sports. some of them at least. >> my golf ball knowledge is not where it should be maybe. but anyway. check out the world markets live. it is a blog of course which runs throughout the european trading day. lots more on there online and top trending stories too. >>> spanish lenders gains after banco popular announces 2.5 billion dollar share sale. >> worst day in a decade after the publisher cuts its full year outlook. >> kkv reportedly mauling a 60% share stake in takata sending stakes higher. >> and severe slowdown in emerging markets. >>> good morning. and welcome back t

julie hyman has a look at today's big ipo.porate ipo this year, excluding any kind of spin off, shares are up 7% on the first day of trading. 44 point 4 million shares priced $4.9 billion -- it's going little higher today. it is a food distribution company and it was taken private 2007 at the peak of the buyout room. those terms not selling shares in the ipo. if you look at the timing, we have seen companies that have come public perform relatively well. the a look at this -- russell 2000 is in blue versus a bloomberg index, so as you can see, since these ipos have been relatively small, there has been out performance there. it looks like u.s. food is coming public at a good time. looking at how its competitors have been doing -- looking at sysco, both of them have been higher as well. when you look at the environment, in terms of other types of ipos, mgm properties was larger in size. since it was a real estate investment trust, that's why we are not talking about it as a corporate ipo in the same way. on a corporate basis, t

today. 31 ipos so far in 2016.s farr as numbers go, it's down. consider this. we're starting to see a pickup in the number of companies going public. there were only six, there there were seven in april and 18 in may. again, six of those happening today at the new york stock exchange and at the nasdaq. and, again, u.s. foods being the highest ipo. you can see. take a look at the intraday on the stock. it's the second largest food distributor in the u.s. and so far with the gain, it's the tenth best performing ipo in its first day of trading. but roy we're starting to see in what is typically a slow summer business, year over year is still down about 50%. but, again, investors are very happy to see a recekre recent p the month of maying. >> momentum for the markets. oil is also continuing its dramatic comeback. $50 a barrel. jackie deangelis has more. >> that's right. we didn't close there. we actually closed a couple of cents lower. $49.48 is where wti finished the session. interesting because oil price over 50 is