Welcome to See King Alpha's Wall Street breakfast, where we cover the top news for investors every morning.

Good morning. Today is Tuesday, August 22nd, and I'm your host Julie Morgan.

Soft Bank's arm files for an IPA. Second, and I'm your host Julie Morgan.

Soft Banks arm files for an IPO.

Tingo plummets after postponing its Q2 results yet again,

and S&P downgrades five regional banks.

Here's what's making headlines today.

Arm Holdings has filed for an initial public offering.

Arm has said it will trade under the symbol, Arm, A. R. M. The company generated $2.68 billion in

revenue in fiscal 2023, down from $2.7 billion in fiscal 2022.

Net income in its most recent fiscal year came in at $520 million, down from

549 million in the year ago period. It had $2.2 billion in cash and cash equivalents at the end of fiscal

2023 up from $1.64 billion in fiscal 2022. Arm has spoken to a number of major tech companies about being anchor investors,

including Intel, Alphabet, Apple, Microsoft, Taiwan S Simi, and Samsung Electronics.

The company has also spoken to NVIDIA and Amazon about participating in the offering.

Arm was purchased by Soft Bank in 2016 for $32 billion.

Tingo Group is down more than 28% pre-market.

On Monday, the company further postponed its Q2 results, conference call, and its 10Q filing in the wake of the Hindenburg Research Short report.

T.O. had initially scheduled the release of the materials on August 10th, but after initially postponing the release, they finally postponed it indefinitely.

Tio said in its latest press release, although progress has been made with regard to the independent

review of the allegations made in the Hindenburg shortseller report, the independent

review is still ongoing. The company did not specify a new reporting date. The Hindenburg

...