Walmart Inc (WMT) was down -0.5 percent to $ 148.11. The U.S. retail giant is reportedly planning a $10 billion Flipkart IPO. As part of the IPO, which will be led by Goldman Sachs, the U.S. company will seek to sell about 25 percent of its Indian Flipkart unit. Walmart owns more than 82 percent of the unit at present. The IPO would have been considered but delayed because of the coronavirus for a long time.
Alphabet Inc (GOOGL) dropped -0.37 percent to $1817.03. The Wall Street Journal reported, citing records, that Google is considering tough IAC/InteractiveCorp penalties for marketing activities considered deceptive. Google may not have behaved for the time being, being an IAC rival and not allowing the fines to be seen as anti-competitive.
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Ford Motor Company (F) sank -1.2 percent to $9.22. Due to supplier problems caused by the Covid-19, the automaker postponed the release of its Bronco SUV. The launch will be delayed until the summer of 2021, when spring is expected.
Intel Corp (INTC) slipped -3.43% to $50.20 to lost ground, while Apple Inc (AAPL) rose up 1.23% to % 123.75. Bloomberg reported that Apple is considering releasing multiple Mac chips next year that will outperform Intel’s fastest processors in California.
Uber Technologies Inc (UBER) was down -1.93% to $53.80. The ride hailing giant is selling ATG (Advanced Technologies Group), its driverless car subsidiary to Aurora, and is investing $400 million in this autonomous car start-up in California. Created by Waysmo, Uber and Tesla; Aurora has also benefited from an investment from South Korea’s Hyundai and internet giant Amazon. The deal values ATG at around $4 billion, the involved companies said.
AirBnB and DoorDash are due to land on Wall Street shortly. AirBnB’s new rumors have expanded the introductory range to $56-60 from $44-50 previously, marking a mid-range rise of 23 percent. The $42 billion will be price at the top of this scale. The Wall Street Journal claims the IPO of DoorDash is forecast to be ‘prayed’ over the top of the current $90-95 range on Wednesday.
