Update: US Equity Indexes Drop as Sharp Sell-Off in Semiconductor Heavyweights Sinks Technology While Crude Oil Surges
MT newswire2026/10/08 19:3903:39 PM EDT, 10/08/2026 (MT Newswires) -- (Updates with index/price moves and geopolitical news from the first paragraph.) US equity indexes fell as a sell-off in semiconductors pushed technology to the bottom of sector charts, while crude oil surged ahead of Thursday's close. The Nasdaq Composite dropped 1.4% to 27,153.2, the S&P 500 declined 0.6% to 7,750.1, and the Dow Jones Industrial Average slid 0.1% to 51,114.6. Energy and consumer staples led gainers. Among stocks with market capitalization exceeding $200 billion, all of the top 10 names were technology companies, and within those, eight were from semiconductor-related industries, according to data compiled by Finviz. The three worst performers in this mega-cap category were Arm (ARM), Intel (INTC), and Oracle (ORCL), down by at least 6.1% each. Meanwhile, tankers are facing a higher risk of attacks and intimidation as they try to get critical shipments through the Strait of Hormuz after Iran issued new warnings that it would block routes that it has not authorized, sources told Reuters. This comes as tropical storm Isaias continues to strengthen ahead of landfall on the northern Gulf Coast by this weekend, CNN reported. The storm rapidly intensified into the Atlantic season's first hurricane on Wednesday night, the news report added. Chevron (CVX) has begun shut-in procedures for production at four Gulf of America facilities and is evacuating workers as Isaias approaches, the company said. Front-month US West Texas Intermediate crude oil contract advanced 3.8% to $91.67 per barrel, and global benchmark Brent jumped 4.3% to $104.51 per barrel even after President Donald Trump reportedly said Thursday that the US will not attack Iran before the mid-term elections in early November while pointing out "productive discussions" with Tehran. The US borrowing costs at Treasury auctions continued to rise on Thursday. An auction of $22 billion of 30-year bonds hit a high yield of 5.618%, up from 5.308% in the previous auction. The bid-to-cover ratio, which measur
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BRIEF-Veea Regains Full Compliance With Nasdaq Continued Listing Requirements
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Exclusive Report – Sources say Refresco is planning an initial public offering (IPO) with a valuation of over 10 billions dollars.
According to sources, several banks have been competing for IPO underwriting business in recent weeks. The sources said the potential listing could take place in either the United States or Europe. KKR acquired Refresco for approximately $8 billion in 2022. Reuters New York, October 8 – According to informed sources, Netherlands-based Refresco and its parent company KKR have recently heard pitches from several investment banks regarding their potential roles in the IPO of Refresco, one of the world's largest independent beverage manufacturers. Sources, speaking anonymously, revealed that Refresco is exploring listing plans, possibly in either the US or Europe, and that regardless of the market, the company’s valuation could surpass $10 billion. They cautioned that the plans are at a preliminary stage and may change. KKR, an investment firm, acquired the company in 2022 for about $8 billion through its global infrastructure strategy, which focuses on investing in critical infrastructure assets. Other investments under this strategy include utilities, energy, and telecommunications service companies. Both Refresco and KKR declined to comment. Founded in 1999 and headquartered in Rotterdam, Netherlands, Refresco partners with retailers such as Walmart and Aldi to produce private label beverage products, and also collaborates with branded beverage companies like Coca-Cola, PepsiCo, and Monster Beverage. Refresco claims to be the world’s largest independent beverage manufacturer, providing production, bottling, warehousing, logistics, and distribution services to partners. The company operates 85 production sites across North America, Europe, and Australia. According to its annual report, the company achieved nearly $7 billion in revenue and about $930 million in adjusted EBITDA in 2025. Sources noted that although Coca-Cola Consolidated mainly collaborates with Coca-Cola, this North Carolina-based beverage manufacturer could still be a relevant comparable for Refresco. According to data provider LSEG, that company's market capitalization is around $12.5 billion, and its EBITDA multiple is close to 12 times. Dealogic data show that the US IPO market had a strong start this year, with traditional IPO funding approaching $140 billion so far, making 2026 likely to approach the record levels seen in 2021. However, market volatility, rising bond yields, rate hike concerns, and increasing questions over AI spending and valuations are threatening the once-expected bumper autumn IPO season. Several companies, including smart ring maker Oura, have postponed planned listings in recent weeks. Nevertheless, IPO advisors and investors say companies continue to hold pitches with investment banks to vie for underwriting spots—known as “beauty contests.” They are also continuing informal meetings with investors and other preparations to allow them to move quickly when market conditions improve. (For the convenience of non-English speakers, Reuters automatically translates its reports into various languages. Reuters does not guarantee the accuracy of automated translations, and such translations are provided solely for reader convenience. Reuters accepts no liability for any damage or loss caused by use of the automated translation function.)
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Bombardier Opens New Line Maintenance Station in Sydney
05:27 PM EDT, 10/08/2026 (MT Newswires) -- Bombardier (BBD-B.TO) after trade Thursday said it is opening a new Line Maintenance Station in Sydney, Australia, expanding its network in the Asia-Pacific region. The aircraft manufacturer said the move adds to its existing Australian facilities in Perth and Melbourne. The Sydney location will provide emergency aircraft-on-ground support, unscheduled maintenance and select scheduled inspections. It will also offer mobile response capabilities, with technicians certified to service Bombardier's Learjet, Challenger and Global aircraft, the company said. "The site's new Component Repair and Overhaul workshop will further strengthen Bombardier's capabilities in APAC," it added.
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