Goldman Sachs Asset Management has launched AlphaAI, an artificial intelligence investment platform. Lou D'Ambrosio will lead this new platform as chairman of Artificial Intelligence. This platform aims to generate returns from the rapidly evolving AI technology space.
Jersey Mike's debuted on the New York Stock Exchange with shares opening lower. The sandwich chain's initial public offering raised approximately one billion dollars. This listing marks one of the largest restaurant IPOs in recent years. The company operates over three thousand three hundred locations across the United States and Canada. Jersey Mike's offering tests investor confidence in the wider retail sector.
Mastercard reported better-than-expected second-quarter profits on Thursday. Strong transaction volumes and resilient consumer spending supported the company's financial performance. Gross dollar volume rose eight percent, and net revenue increased fourteen percent.
National Stock Exchange reported a seven percent profit rise for the June quarter. Higher transaction charges and strong operating margins contributed to this financial growth. Consolidated total income also saw a nine percent increase year-on-year. The exchange is currently preparing for its proposed initial public offering. NSE's contribution to the exchequer reached over twenty thousand crore rupees.
Indian equities extended gains after the US Federal Reserve kept rates unchanged, with Sensex rising 274 points and Nifty closing above 24,300. Strong FII inflows and upbeat earnings supported sentiment, though hawkish Fed commentary, rising bond yields and weak broader markets capped gains.
Qualcomm's stock has seen a notable drop following its alert about escalating memory costs. Increased expenditures and rising prices are expected to strain profit margins in the immediate future. The firm has projected an adjusted earnings per share that falls short of analysts' estimates. Additionally, Qualcomm's share in the modem supply for the upcoming iPhone will significantly decrease.
Intercontinental Exchange has made a significant move by agreeing to acquire the bond trading platform MarketAxess for a hefty $5.7 billion, reflecting a 33% premium over its latest closing price. This acquisition is poised to bolster ICE's fixed-income trading offerings, resulting in a notable 30% jump in MarketAxess shares after the announcement. The deal is anticipated to finalize in the first half of 2027.
Fusion Klassroom Edutech has successfully secured Rs 11.08 crore from key anchor investors. The company is set to launch its initial public offering on July 31st, with the IPO valued at Rs 39.04 crore, which will remain open until August 4th. Following the offering, shares are expected to be listed on the BSE SME platform on August 7th.
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