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Oracle Corp’s (NYSE: ORCL)...

Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15%...

RTX Corp (NYSE: RTX)...

RTX Corp (NYSE: RTX) experienced a notable decline of -7.22%, amounting to $6.03...

GameStop Corp. (NYSE:GME) Quarter...

GameStop Corp. (NYSE: GME) to announce its second quarter fiscal 2023 results after...

Advanced Micro Devices (NASDAQ:AMD)...

Shares of Advanced Micro Devices (NASDAQ:AMD) drops 0.38% in afterhours in last trading...
HomeStock InsidersFlex (NASDAQ:FLEX) Names...

Flex (NASDAQ:FLEX) Names one of the World’s Most Admired Companies

Shares of Flex (NASDAQ:FLEX) drops in pre session as fortune magazine named the company one of the World’s Most Admired Companies in the Electronics category.

Flex CEO Revathi Advaithi stated, “Thank you to our 170,000 team members around the world whose focused efforts, resiliency, and strong execution earned Flex the esteemed honor of being named a world’s most admired company. “By exemplifying and strengthening our values-driven culture, we continue to deliver value to all of our stakeholders and bring our purpose to life – creating great products for our customers that add value and improve people’s lives.”

THE FUTURE The World’s Most Admired Companies study polls top executives and directors from eligible companies, as well as financial analysts, to identify the companies with the best reputations within and across industries. Each company in their respective industry is evaluated on nine criteria, including ability to attract and retain talented people, management quality, social responsibility to the community and the environment, innovativeness, product or service quality, prudent use of corporate assets, financial soundness, long-term investment value, and global business effectiveness. To be named a Fortune World’s Most Admired Company, a company’s score must be in the top half of its industry survey.

Nextracker Raises $638M in an Expanded U.S. IPO

Nextracker raised $638 million in its initial public offering in the United States, pricing it slightly higher than its indicated target range, parent company Flex Ltd said in a statement on Wednesday, adding that the number of shares sold was increased.

According to the statement, Nextracker sold 26.6 million shares of its Class A common stock at $24 per share, giving the Fremont, California-based company a valuation of more than $3.5 billion. This is at the high end of their previously stated range of $20 to $23 per share.

The decision to increase the deal size comes at a difficult time for the U.S. IPO market, which has ground to a halt due to increased volatility in a rising interest rate environment.

Nextracker is set to debut on the Nasdaq Global Select Market on February 9 under the ticker symbol “NXT,” and the offering is set to close on February 13, according to Flex, a Singapore-based manufacturing solutions provider.

Nextracker also stated that it has granted the underwriters an option to purchase up to an additional 4 million shares. The offering’s joint lead underwriters were J.P. Morgan, BofA Securities, Citigroup, and Barclays.

 

Oracle Corp’s (NYSE: ORCL) Cloud Business Faces Headwinds: What Lies Ahead

Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15% or $15.21 to trade at $111.50 in pre trading session on...

RTX Corp (NYSE: RTX) Updates 2023-2025 Outlook amid Engine Part Challenge

RTX Corp (NYSE: RTX) experienced a notable decline of -7.22%, amounting to $6.03 per share, bringing its current trading price to $77.45. The company,...

GameStop Corp. (NYSE:GME) Quarter Report: Resilience amidst Market Turbulence

GameStop Corp. (NYSE: GME) to announce its second quarter fiscal 2023 results after the market closes today. Shares were slightly down in the pre-trading...

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Oracle Corp’s (NYSE: ORCL) Cloud Business Faces Headwinds: What Lies Ahead

Oracle Corp (NYSE: ORCL) falls down to its knees, share dropped over 12.15% or $15.21 to trade at $111.50 in pre trading session on Tuesday as Wall Street's major indices experienced a tumultuous day, driven by Oracle's staggering 12.5%...

Advanced Micro Devices (NASDAQ:AMD) Attempts to Chases Nvidia Corp (NVDA) Valuation by Introducing New AI Chips

Shares of Advanced Micro Devices (NASDAQ:AMD) drops 0.38% in afterhours in last trading session as the company recently launched its data center and AI technology event, where it unveiled its long-awaited MI300 processor tailored for AI workloads. Its objective...

Amazon.com (NASDAQ: AMZN) To Face Tough U.K. Antitrust Review on Roomba Acquisition

Shares of Amazon.com, Inc. (NASDAQ: AMZN) inches down in pre trading session on Thursday as the British antitrust officials have begun looking into Amazon's $1.7 billion acquisition of robot vacuum manufacturer iRobot. According to a statement released on Thursday, the...

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