Arm Holdings (ARM) adds to IPO gains
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Arm's stellar listing sets the stage for more SoftBank acquisitions
September 15, 2023 5:34 AM EDTBy Anton Bridge
TOKYO (Reuters) -The roaring success of Arm Holdings' stock market debut makes it much easier for owner SoftBank Group to revert to its natural state - acquisition-hungry.
Shares in the British chip designer jumped almost 25% on its first day of trade - propelling its value to more than double the $32 billion SoftBank paid to acquire it in 2016. The tech investment behemoth raised nearly $5 billion from Arm's offering while retaining 90.6% of the firm.
Known for debt-fuelled acquisition sprees, SoftBank founder and CEO Masayoshi Son flagged in June that the company was shifting back... More
Factbox-SoftBank's Arm by the numbers
September 15, 2023 12:20 AM EDT(Reuters) - SoftBank Group's Arm Holdings soared almost 25% above its Nasdaq debut price on Thursday, valuing the company at $65 billion.
The following are key facts about Arm:
REVENUES
Sales totaled $2.68 billion in the 12 months to the end of March, little changed from $2.7 billion in the prior period due to weak demand for mobile phones during a global economic slowdown.
Its revenue is mainly composed of chip licensing fees and royalty fees, which it started collecting in the early 1990s and accounted for three-fifths of overall revenue in the latest fiscal year.
MAJOR MARKETS BY GEOGRAPHY AND... More
Stock market today: Dow rallied after Arm IPO popped; eyes turn to Fed meeting
September 14, 2023 4:19 PM EDTInvesting.com -- U.S. stocks rallied on Thursday after stronger than expected retail sales pointed to a resilient economy even as inflation data came in hotter than expected.
At 16:01 ET (20:01 GMT), the Dow Jones Industrial Average was up 331 points or 0.9% while the S&P 500 was up 0.8% and the NASDAQ Composite rose 0.8%.
The three major Wall Street indices lost their earlier momentum on Wednesday, as investors tried to digest the August consumer prices report.
More inflation data to digest ... More
Needham & Company Starts ArvinMeritor (ARM) at Hold, 'Valuation Looks Full for ARM in a Post-Smartphone Era'
September 14, 2023 4:17 PM EDTNeedham & Company analyst Charles Shi initiates coverage on ArvinMeritor (NASDAQ: ARM) with a Hold rating.
The analyst comments "We are launching coverage of Arm Holdings plc (ticker: ARM) with a Hold rating. Arm's architecture is a... More
