Aug. 8 - Manchester United prices its IPO after the close on the NYSE and the launch is already oversubscribed. That's because of some clever marketing by banks according to Reuters Correspondent Olivia Oran.
It's or not you don't have to appreciate the points of soccer to profit from it. Manchester United one of the world's best known sports teams prices its IPO on the NYSE after the close. The launch could devalue the team had over three billion dollars sources have told reporters the deal is oversubscribed after unexpected support from American investors. Reuters correspondent Olivia Warren says it all down to some. Clever marketing. Because there are no publicly traded sports franchises. Bank president had to get creative to justify its teams almost 3.3 billion dollar valuation. They're comparing Manchester United Media companies like -- -- e-commerce companies like am I. As well as high growth consumer name like Michael course -- Don't expect. Kohl's and Nordstrom to repeat the success of me teens when they come out with earnings. -- and sent to the its bottom line street after have been sealed the discounter has been suffering from stock shortages and -- customers are raising prices to much. -- luxury counterpart Nordstrom also see its profit falls from last year but it doesn't taking a page out of Amazon's book. And investing more into e-commerce. Investors will find out if Nvidia's strategy of betting big on tablets will pay off when it reports results. It's harder chip is being used by Google's nexus seven and in Microsoft surface. Nvidia has been trying to move away from PCs after a sales slowdown in that sector. Its strategy is pretty convenient to direct competition with Texas Instruments and Qualcomm. I got ahead it's back to the weekly grind employment stops with initial jobless claims. But if you're looking for more signs of life in the labor market after that better than expected July jobs report. And the -- -- expect claims to stake out around 365000. According to IFR. The good news that number is still better than June's yearly high. And stay with insider and Reuters TV for more expert analysis of the Manchester United IPO. You can catch and tire on Twitter at writers and tighter and check out our -- YouTube channel had Reuters dot com slash CB. I'm -- mom this is raiders.