On Tuesday, Shares of Square Inc (NYSE:SQ), lost -0.83% to $12.02.
Square, declared the closing of its initial public offering of 27,000,000 shares, and the exercise in full of the underwriters’ option to purchase an additional 4,050,000 shares, of its Class A common stock at a price to the public of $9.00 per share. A total of 31,050,000 shares of Class A common stock were sold in the initial public offering, counting 1,350,000 shares by the Start Small Foundation, a donor-advised fund held and administered by the Silicon Valley Community Foundation, the selling stockholder. The Start Small Foundation is a charitable fund created by Square’s CEO and founder, Jack Dorsey.
Goldman, Sachs & Co., Morgan Stanley and J.P. Morgan acted as lead joint book-running managers for the offering. Barclays, Deutsche Bank Securities, Jefferies, RBC Capital Markets and Stifel acted as additional book-running managers for the offering, and LOYAL3 Securities, Inc. and SMBC Nikko acted as co-managers.
A registration statement regarding these securities has been filed with, and declared effective by, the U.S. Securities and Exchange Commission (“SEC”). Copies of the registration statement can be accessed through the SEC’s website at www.sec.gov. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful preceding to registration or qualification under the securities laws of any such state or jurisdiction.
Square, Inc. develops and provides point-of-sale software worldwide. It provides Square Register, a point-of-sale system that takes care of digital receipts, inventory, and sales reports, in addition to provides analytics and feedback.
Shares of U.S. Bancorp (NYSE:USB), inclined 0.18% to $43.86, during its last trading session.
U.S. Bank, for the third successive year, is the exclusive partner of NBC associate KARE 11 in its annual campaign to collect toys for the United States Marine Corps Toys for Tots program. New this year, U.S. Bank will offer an additional donation opportunity for customers who use Apple Pay.
Each time a customer uses a U.S. Bank credit or debit card with Apple Pay™ to complete a transaction in Minnesota now through Dec. 19, 2015, an additional $1 donation will be made by U.S. Bank to Toys for Tots, up to $50,000.
“U.S. Bank is focused on making it easier and more convenient for our customers to do business with us and the businesses where they shop,” said Cliff Cook, Senior Vice President for U.S. Bank Retail Payment Solutions. “This holiday season, we’re encouraging customers to try using Apple Pay™ and at the same time support the Toys for Tots campaign. Joining us in promoting this additional donation opportunity with Apple Pay™ are more than 140 small businesses in the Twin Cities and we appreciate their support.”
U.S. Bancorp, a financial services holding company, provides a range of financial services in the United States. It offers depository services, which comprise checking accounts, savings accounts, and time certificate contracts; and lending services, such as traditional credit products, in addition to credit card services, leasing, financing and import/export trade, asset-backed lending, agricultural finance, and other products.
Finally, Shares of GameStop Corp. (NYSE:GME), ended its last trade with 0.77% gain, and closed at $37.90.
GameStop Corp., stated sales and earnings for the third quarter ended October 31, 2015.
Paul Raines, chief executive officer, stated, “Our third quarter results were at the low end of our guidance range due to lower than predictable new software and hardware sales and delays in Technology Brands store openings; however, our expectations for the full year have not changed. Looking ahead to the fourth quarter, a solid slate of new video games, coupled with contributions from our diversified AT&T, Apple and ThinkGeek businesses and our in-store collectibles offerings are predictable to drive our fourth quarter results; therefore, we are reiterating our full year earnings per share guidance range of $3.66 to $3.86.”
Q3 2015 Financial Summary
Total global sales reduced 3.6% to $2.0 billion (a 1.2% improvement in constant currency) and merged global comparable store sales declined 1.1% (-1.7% in the U.S. and +0.3% internationally). Foreign currency exchange rate changes negatively influenced sales by about $100 million and earnings per share by $0.02.
In the new video game segments, new hardware sales declined 20.4% (a 15.4% decrease in constant currency), while new software sales reduced 9.3% (a 4.2% decrease in constant currency) due to the tough overlap of Destiny and Super Smash Bros. in Q3 2014.
Pre-owned sales raised 0.6% (a 4.9% improvement in constant currency) driven by growth in PlayStation 4 and Xbox One pre-owned sales. Not Taking Into Account the impact of foreign currency changes, this is the seventh successive quarter of positive pre-owned growth.
Technology Brands revenues raised 64.2%, driving a 31.1% sales improvement (a 31.7% improvement in constant currency) in the Mobile and Consumer Electronics category. Overall, this category contributed 14.0% of the company’s third quarter gross profit dollars, with an 81.2% improvement in gross profit dollars. During the quarter, 105 new Technology Brands stores were opened and/or attained.
GameStop Corp. operates as a multichannel video game retailer. It sells new and pre-owned video game hardware; physical and digital video game software; pre-owned and value video game products; video game accessories, such as controllers, gaming headsets, memory cards, and other add-ons for use with video game hardware and software; and digital products, counting downloadable content, network points cards, prepaid digital and online timecards, and digitally downloadable software.