Lyft has increased its expected IPO share price range to between $70 and $72 per share (from $62-$68), raising up to $2.22B and valuing the ride-hailing company at around $20B. The firm is set to price its shares today and will begin trading publicly on the Nasdaq on Friday. While still not profitable, Lyft claimed 39% of the U.S. market at the end of 2018, up 17 percentage points over two years. (WSJ)
Lululemon Athletica, the Vancouver, BC-based clothing company whose upscale yogawear has taken Bend and North America by storm, is stepping up its international expansion after its annual profits nearly doubled. The company, which is capitalising on the “athleisure” trend that sees leggings worn even in the office, said more than half of its planned 40 to 50 store openings this year would be in overseas markets. (FT)
Economic growth in the U.S. slowed in the final part of 2018, with GDP posting a gain of just 2.2 percent in the fourth quarter, according to final Commerce Department figures released this morning. The final reading was in line with expectations of economists surveyed by Dow Jones. That was down from the previous estimate of 2.6 percent and leaves full-year growth at 2.9 percent. (CNBC)
The S&P 500 is down 2, and the NASDAQ is down 7. The MSCI international index is down a fifth of a %.
Oil is down $1.02 at $58.39 a barrel.
Gold is down $10 at $1306 an ounce.