Uber reportedly to launch mammoth IPO on NYSE | Pinterest accelerates IPO process | Strategists: Fed policy is main driver of buoyant stocks
March 22, 2019
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Uber reportedly to launch mammoth IPO on NYSE
The New York Stock Exchange has been selected for Uber's initial public offering, which could give the company a valuation as high as $120 billion, a source said. The IPO is expected to be the biggest in the US this year, sources have said.
BNN Bloomberg (Canada) (3/21) 
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Mobile Device Usage is a Threat to Data Security
74% of global IT leaders reported a data breach due to a mobile security issue. Discover how cybersecurity is shifting to meet the needs of a mobile world, and why it's critical to not fall behind. Learn how to protect your organization from mobile threats in The Convergence of InfoSec & Mobile.
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Industry Update
Pinterest accelerates IPO process
Pinterest is reportedly readying to make its initial public offering filing public as early as today and wants to list its shares on the New York Stock Exchange in mid-April. The image-search company was last valued privately at roughly $12 billion.
The Wall Street Journal (tiered subscription model) (3/21) 
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Strategists: Fed policy is main driver of buoyant stocks
Strategists say the Federal Reserve's switch to accommodation is the main reason the US stock market continues to climb, despite concerns about an economic slowdown and a decline in corporate earnings. JPMorgan Chase strategist Marko Kolanovic calls the switch "an enormous shift in monetary policy" and says "it is clear that the dovish turn is here to stay, and this should be a sustained tail wind for risky assets."
CNBC (3/21) 
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SEC simplifies disclosure by public firms, money managers
The Securities and Exchange Commission has approved amendments to Regulation S-K aimed at simplifying and modernizing disclosure by public companies, consultants and money managers. The amendments are required under the Fixing America's Surface Transportation Act of 2015.
Pensions & Investments (free access for SmartBrief readers) (3/21) 
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FINRA budget maintains membership fees
The Financial Industry Regulatory Authority has issued a budget that for the sixth consecutive year doesn't raise fees for members, raising concerns the regulator is increasing reliance on fines to generate revenue.
InvestmentNews (tiered subscription model) (3/21),  ThinkAdvisor (free registration) (3/21) 
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New York Focus
NYC's sidewalk curbs to be made accessible to handicapped
New York City has settled two lawsuits by agreeing to make sure than the city's sidewalk curbs, roughly 162,000 in total, are accessible to people with vision impairment and mobility issues. A budget of $1.55 billion over 10 years will be dedicated to addressing the issue, a spokesman said.
Gothamist (New York) (3/21) 
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Marijuana legalization effort running into obstacles in Albany
Disagreements over revenues and licensing policies are putting the future of the campaign to legalize recreational marijuana in New York state in doubt. Opponents of the initiative are working hard to fight the measure and picking up some allies.
The Wall Street Journal (tiered subscription model) (3/21) 
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People & Personalities
Trump supporter Moore reportedly considered for Fed seat
Stephen Moore, a fellow at the Heritage Foundation who helped President Donald Trump write his tax plan and who worked on his campaign, is being considered for a Federal Reserve seat, sources said.
Reuters (3/22),  Bloomberg (tiered subscription model) (3/21) 
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On The Economy
Fed kept growth from reaching 4% last year, Trump says
The US economy would have grown more than 4% last year if the Federal Reserve hadn't raised interest rates and scaled back bond holdings, President Donald Trump said. US GDP grew 2.9% on an annualized basis in 2018.
The Associated Press (3/21),  Politico (3/21),  Fox Business (3/22) 
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Financial Products
BlackRock rolls out 2 factor-strategy ETFs
BlackRock has brought to NYSE Arca two exchange-traded funds implementing different factor-based investing strategies. The BlackRock US Equity Factor Rotation ETF uses a factor-rotation model to pick stocks, while iShares Focused Value Factor ETF focuses on value stocks.
ETF Trends (3/21) 
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I had a running compiler and nobody would touch it because, they carefully told me, computers could only do arithmetic; they could not do programs.
Rear Adm. Grace Murray Hopper,
developer of the first compiler for a computer programming language

March is Women's History Month

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