November 19, 2010 |
The old saying that what's good for General Motors is good for the country took on new meaning Thursday after the carmaker went public in a $20-billion-plus stock offering. General Motors Co. shares accelerated smoothly in their first day of trading, gaining 3.6% from the higher-than-expected price the company sold them for late Wednesday. The solid debut was especially good news for the Obama administration, which is eager to show it can recoup the nearly $50 billion it plowed into the auto giant last year.
November 16, 2010 |
General Motors Co. is set to reemerge as a public company this week in one of the year's hottest initial public stock offerings, but many American taxpayers who helped rescue the company won't be going along for the ride. That's because most Americans won't have access to the new shares of the Detroit automaker. And many of those who do are likely to be well-heeled customers at big Wall Street firms. The situation is not much of a surprise on Wall Street, where little guys often are shut out of deals, especially coveted ones where demand far outstrips supply and where fast-rising prices usually provide quick profits to anyone getting IPO shares.
August 18, 2010 |
General Motors Co. filed to become a publicly traded company again, the first step in its plan to sell stock that would pay back billions of dollars of taxpayer support that allowed the automaker to rebuild itself after years of devastating losses. In a regulatory filing Wednesday, GM highlighted its profitable resurgence from the depths of bankruptcy as it pitched what's expected to be one of the biggest stock offerings ever. Wall Street has anxiously awaited for the filing to learn how the giant deal will play out. The initial public offering comes at a time when GM's financial fortunes are on the rise.
August 17, 2010 |
Online video site Hulu, which has emerged as one of the most popular places to watch television shows on the Internet, wants to see whether Wall Street will tune in as much as the public. The company — owned by media giants News Corp., NBC Universal and Walt Disney Co. and private equity firm Providence Equity Partners — is in talks with investment banks about launching an initial public offering as early as this fall. The news was first reported Monday by the New York Times.
August 12, 2010 |
Edward E. Whitacre Jr., the chief executive who led the turnaround of General Motors Co, is stepping down at the end of the month. The surprise announcement came as the nation's largest automaker reported $1.3 billion in quarterly profit. The earnings were a stark contrast to the staggering $12.9-billion loss the company recorded in the second quarter last year, as it was emerging from bankruptcy protection after receiving more than $52 billion in federal bailout funds. Whitacre, a former AT&T executive who came out of retirement to run GM, will be leaving on a high note.
August 10, 2010 |
Skype, a pioneer in Internet phone service, is planning to go public. The Luxembourg company registered for up to $100 million in American depository shares in a filing with the Securities and Exchange Commission on Monday. Skype said in the filing that it had not yet decided on the number of shares in its initial public offering or the price range. The company is looking to have its shares traded on the Nasdaq Stock Market. Silver Lake Partners, a private-equity firm in Menlo Park, Calif.
June 29, 2010 |
Tesla Motors Inc., the Silicon Valley-based electric sports car maker, got a warm welcome from investors in the company's initial public stock offering late Monday. Tesla priced its IPO at $17 a share, above the expected range of $14 to $16. The stock will begin trading on Nasdaq on Tuesday under the symbol TSLA. The deal marks the first IPO by an American car company since Ford Motor Co. went public in 1956. Tesla and current shareholders sold a total of 13.3million shares, raising $226 million.
June 16, 2010 |
Electric-car maker Tesla Motors Inc. plans to raise about $167 million by selling stock to the public later this year. The Palo Alto maker of the $109,000 Roadster electric sports car said in a Securities and Exchange Commission filing Tuesday that it planned to sell as many as 12.8 million shares for between $14 and $16 each in an initial public offering. The offering is "highly anticipated" and puts the value of the company at about $1.5 billion, according to IPO research firm Renaissance Capital.