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Wall Street Breakfast Podcast: Klaviyo IPO

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Join us for an exciting episode of the Wall Street Breakfast Podcast as we discuss the Klaviyo IPO and other market news. Discover the latest insights and analysis in an engaging conversation thatโ€™s perfect for any finance enthusiast!

Klaviyoโ€™s Successful IPO

Find out everything you need to know about Klaviyoโ€™s highly anticipated initial public offering. At an impressive $30.00 per share, Klaviyo (KVYO) has priced its IPO above its top range, making waves in the market. The offering consists of approximately 11.51 million shares offered by Klaviyo (KVYO) and about 7.69 million shares to be sold by existing stockholders. With the underwriters having an option to purchase up to an additional 2.88 million shares, the gross proceeds from the offering are expected to be around $345.2 million. Stay tuned for the closing of the IPO on September 22 and the start of trading on September 20.

Uberโ€™s Battle with EU Gig Work Rules

Learn about the potential impact of the European Unionโ€™s proposed gig work rules on Uber. With the possibility of reclassifying drivers and couriers, Uber may face a 40% increase in prices and the potential shutdown of operations in numerous cities. Anabel Dรญaz, regional general manager of Uberโ€™s (UBER) mobility business in Europe, warns about the potential reduction in work opportunities and longer wait times if gig workers are granted the same rights as full-time employees. Discover the implications and challenges that Uber may face in Europe.

Exxonโ€™s Focus on Direct Air Capture Technology

Explore Exxon Mobilโ€™s (XOM) commitment to developing direct air capture (DAC) technology for carbon dioxide. While the company has no plans to invest in electric vehicle charging stations, Exxon sees potential in becoming a major player in DAC if costs decrease and the technology advances further. With a focus on reducing carbon emissions, Exxonโ€™s energy transition strategy prioritizes emission reduction from its business operations and investments in hydrogen and biofuels. Learn more about Exxonโ€™s approach to combating climate change.

On the Radar

Keep an eye out for these headlines on Seeking Alpha:

  • A single oil trader sparks a price run-up for U.S. physical crude โ€“ Bloomberg
  • Disney slips after doubling investments in Parks to $60B
  • Philip Morris evaluates selling stake in pharmaceuticals unit โ€“ report

Donโ€™t miss out on these upcoming events:

  • Intel (INTC) Innovation Day
  • Microsoft (MSFT) special event featuring new hardware and AI innovations
  • Amazon (AMZN) Devices and Service Event with anticipated product announcements

Market Recap

Get the latest market update:

  • The Nasdaq (COMP.IND) declined 0.23%
  • The Dow (DJI) fell 0.31%
  • The S&P 500 (SP500) retreated 0.22%

While the energy and consumer discretionary sectors experienced losses, health care and communication services saw gains. Treasury yields increased, with the 10-year yield (US10Y) up 6 basis points and the 2-year yield (US2Y) up 4 basis points. As for the current market status, Dow, S&P, and Nasdaq futures are all in the green ahead of the opening bell. Crude oil is down 1%, trading at just over $90 a barrel. Bitcoin is down 0.7%, valued at less than $27,000. Internationally, the FTSE 100 is up 0.7%, and the DAX is up 0.6%. Stay informed about the stock marketโ€™s biggest movers and important economic events throughout the day.

Stay tuned for more financial news!

Donโ€™t miss out on the latest updates. At 2 PM, weโ€™ll have the FOMC announcement, and at 2:30 PM, weโ€™ll hear from Fed Chair Jerome Powell. Stay informed and stay ahead in the world of finance!

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