On Wednesday, Etsy Inc (NASDAQ:ETSY)’s shares inclined 4.94% to $16.78.
Etsy Inc (ETSY) shares are getting a bit of a reprieve Tuesday courtesy of Tiger Global Administration LLC, but that hasn’t been enough to push the stock back above its initial public offering price.
Late Monday, Tiger Global, the firm founded by Chase Coleman, a protege of legendary investor Julian Robertson’s Tiger Administration, revealed in a regulatory filing that its stake in Etsy stood at 8.9% as of May 28. At the time of Etsy’s IPO on April 16, Tiger owned 7.3% of Etsy’s shares.
Etsy’s stock shot up more than 4%, and by early afternoon, it traded at $15.49 per share.
Even with the Tiger bump, that’s still more than 3% below its $16 initial public offering price and 57% below its all-time high since its April IPO.
Tiger’s apparent vote of confidence in Etsy comes at a key moment. Etsy’s stock closed nearly 88% above its IPO price in its public market’s debut. The company sold 16.7 millions, raising about $267 million.
A little more than a month later Etsy’s first-quarter earnings spooked investors and pushed shares down 18%. The stock has fallen steadily since then and closed below its IPO price for the first time last week. That is — until Tuesday’s trading.
Etsy, Inc. operates a marketplace where people connect, both online and offline, to make, sell and buy goods. The Company operates at the center of macroeconomic trends in online and mobile commerce, employment, consumption and manufacturing. Its sellers offer goods in online retail categories, counting jewelry, stationery, clothing, home goods, craft supplies and vintage items. The Company supports a range of artists, makers, designers and collectors. The Company’s community is made up of entrepreneurs who sell on its platform, consumers looking to buy goods in its marketplace; manufacturers who assist its sellers grow their businesses and its employees who maintain its platform.
Cyberark Software Ltd (NASDAQ:CYBR)’s shares dropped -3.01% to $63.37.
Cyberark Software Ltd (CYBR) the company that protects organizations from cyber attacks that have made their way inside the network perimeter, recently declared the pricing of a registered public offering of 4,900,000 ordinary shares at a price of $61.00 per share. 4,000,000 of the shares are being sold by shareholders of the company and 900,000 of the shares are being sold by CyberArk. The underwriters have a 30-day option to purchase up to an additional 735,000 ordinary shares at the public offering price from the selling shareholders. CyberArk will not receive any proceeds from the sale of the shares by the selling shareholders. The offering is predictable to close on June 16, 2015, subject to customary closing conditions.
Goldman, Sachs & Co., Deutsche Bank Securities Inc. and Barclays Capital Inc. are acting as joint book-running managers and as representatives of the underwriters in the offering. BofA Merrill Lynch and UBS Securities LLC are acting as book-running managers in the offering. William Blair & Company, L.L.C., Nomura Securities International, Inc. and Oppenheimer & Co. Inc. are acting as co-managers in the offering.
CyberArk Software Ltd. develops, markets, and sells software-based IT security solutions that protect organizations from cyber attacks in the United States and internationally. The company offers privileged account security solution to secure, manage, and monitor privileged account access and activities. Its privileged account security solution comprises of Enterprise Password Vault that provides a tool to manage and protect physical, virtual, or cloud-based assets; SSH Key Manager to store, rotate, and control access to SSH keys for preventing unauthorized access to privileged accounts; Privileged Session Manager that protects servers, applications, databases, and hypervisors from malware; and Privileged Threat Analytics that profiles and analyzes individual privileged user behavior and creates prioritized alerts when abnormal activity is detected.
At the end of Wednesday’s trade, Whiting Petroleum Corp (NYSE:WLL)‘s shares surged 2.87% to $34.07.
, Whiting Petroleum Corp (WLL) declared that it has commenced an offer to exchange all of its outstanding, unregistered 6.25% Senior Notes due 2023 (the “Original Notes”) for new, registered 6.25% Senior Notes due 2023 (the “New Notes”).
The terms of the New Notes to be issued in the exchange offer are substantially identical to those of the Original Notes, except that the New Notes will not have securities law transfer restrictions, and the registration rights regarding the Original Notes and the New Notes will not provide for the payment of additional interest under circumstances regarding the timing of the exchange offer.
The exchange offer will expire at 5:00 p.m. New York City time, on July 1, 2015, unless extended by Whiting Petroleum Corporation. Valid tenders of the Original Notes must be made, and may be withdrawn at any time, before the exchange offer expires.
Whiting Petroleum Corporation, an independent oil and gas company, acquires, explores, develops, and produces crude oil, natural gas liquids, and natural gas in the Rocky Mountains and Permian Basin regions of the United States. It sells oil and gas to end users, marketers, and other purchasers.
Tyson Foods, Inc. (NYSE:TSN), ended its Wednesday’s trading session with 0.58% gain, and closed at $41.40.
Mexico’s Federal Economic Competition Commission has approved the sale of Tyson Foods, Inc.’s (TSN) poultry business in Mexico to Pilgrim’s Pride, which is part of a wholly-owned partner of JBS SA (JBSAY).
The commission, which has been reviewing the transaction, recently voted to permit the deal to proceed.
Tyson Foods and Pilgrim’s Pride reached a definitive agreement on the sale last July. The Mexican business, known as Tyson de Mexico, is a vertically integrated poultry business based in Gomez Palacio in North Central Mexico. It employs more than 5,400 people in its offices, three plants and seven distribution centers.
After the sale is accomplished, Tyson Foods will continue to serve customers in Mexico. The company will supply them with U.S.-produced chicken in addition to chicken produced in Mexico, in part through a co-packaging arrangement with Pilgrim’s Pride.
Tyson Foods, Inc., together with its auxiliaries, produces, distributes, and markets chicken, beef, pork, prepared foods, and related allied products worldwide. The company breeds and raises chickens; and processes live chickens into fresh, frozen, and value-added chicken products.
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