The image bookmarking social network valued its initial public offering at $ 19 per share on Wednesday, above its original proposed price range of $ 15 to $ 17 per share.
The shares will begin trading on Thursday on the New York Stock Exchange under the symbol "PINS".
The strong demand may ease investor concerns about the unicorn racing stampede of technology that will be made public this year after Lyft's lackluster debut on Wall Street.
Lyft (LYFT), which debuted on the Nasdaq at the end of March at $ 72 per share, has been criticized because it worries about its heavy losses. Its shares closed at less than $ 60 per share on Wednesday.
Focus (ZM), a video conferencing company, will also make its debut in the public market on Thursday. He has valued his shares at $ 36, above his original proposed price range.
Unlike most of the other branded technology companies that publish this year, Zoom is profitable and continues to increase sales quickly.
2. Vegan success: Unilever posted stronger than expected growth in first-quarter sales on Thursday. The owner of brands such as Ben and Jerry & # 39; s and Dove said that sales were particularly strong in Asia.
Unilever also highlighted the growing demand for healthier and specialty food options, such as its new Vegan Magnum ice cream.
"Our actions to modernize our portfolio to meet trends towards authentic, organic and natural, healthy and moving products are working," the company said in a statement.
Analysts have some concerns about the large share of revenue growth that comes from price increases, rather than sales improvements. Unilever (UL) Shares rose more than 2% in London.
Rival company of consumer goods. Nestle (NSRGF) It also reported stronger than expected sales growth on Thursday. Their actions opened 1% more.
3. Qualcomm rises: Shares in Qualcomm have continued to skyrocket since the chip maker announced on Tuesday it had resolved a patent dispute with Apple (AAPL).
Qualcomm (QCOM) will continue to collect royalties from Apple for its patents, and Apple will pay Qualcomm a substantial fee as part of the agreement.
The stock has skyrocketed by 40% to a maximum of 5 years after the announcement.
4. Overview of the global market: US stock futures were lower before the long weekend. The markets will be closed on Good Friday.
European markets opened mostly lower, after a negative trading session in Asia.
The Dow Jones industrial average closed on Wednesday. The S & P 500 fell 0.2% and the Nasdaq lost 0.1%.
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5. Income and economy: American Express (AXP), Black stone (BX), Honeywell (HON), Philip Morris International (P.M), Skechers (SKX) Y Schlumberger (SLB) It will release profits before the opening.
The US Census Bureau will publish retail sales data for March at 8:30 a.m.
6. Comes this week:
Thursday – American Express (AXP), Skechers (SKX) earnings; United States retail sales
Friday – The markets of the United States are closed.