Arm shares rose nearly 18% on the chip design company's Wall Street debut
Arm Holdings PLC’s stock ARM, +16.57% soared nearly 18% Thursday as the U.K.-based semiconductor design company made its eagerly-anticipated Wall Street debut. Late Wednesday, Arm priced shares at $51 each, towards the top end of the expected range.
Shares of Taiwan Semiconductor Manufacturing Co. TSM, +0.71% rose 1.1%. The chipmaker is among a host of companies investing in Arm at the IPO price. Semtech Corp. shares SMTC, +6.43% fell as much as 6% after the analog and mixed-signal chip maker forecast a loss for the current quarter while Wall Street had expected a profit. The stock then rallied, rising 6.4%.
Shares of Norwegian Cruise Line Holdings Ltd.’s NCLH, +5.35% and Carnival Corp. CCL, +3.48% rose 5.1% and 3.6%, respectively, after they were upgraded by a Redburn Atlantic analyst.AMC Entertainment Holdings Inc. AMC, -1.34% stock rose in premarket trades before falling 1.5% after the movie theater chain and meme stock darling announced the completion of its at-the-market equity offering, raising approximately $325.5 million.
HP Inc. shares HPQ, -2.68% fell more than 2% after Berkshire Hathaway BRK.A, +0.33% BRK.B, +0.40% sold 5.5 million shares of the PC and printer maker, according to a Securities and Exchange Commission filing late Wednesday.
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