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

Good morning. Today is Wednesday, October 11th, and I'm your host Julie Morgan.

Birken's stock prices its IPO.

Seven billion dollars in federal grants

are going out to support hydrogen programs,

and Samsung is expecting a big drop in operating profit.

Birken's stock priced its IPO at $46 per share after setting an initial expected range of

44 to $ dollars per share.

32 million shares will be available to the public today.

The footwear company will raise close to 1.5 billion dollars at that level

and be valued at just under $9 billion.

The 250-year-old brand saw a spike in interest during the summer after Mattel's Barbie movie

featured actress Margot Robbie wearing the sandal in a rose color.

The footwear company said it skews female generally with women comprising 72% of

his customers.

However, recently Birken's stock has introduced new products in an effort to increase its customer base.

It is noteworthy that Birkenstock is going public amid heightened concerns on consumer spending on discretionary categories such as footwear.

The last significant IPO in the footwear sector was Allbirds, which has shrunk to a market cap

of $159 million.

In its IPO filings, Birkenstock

said it would use the proceeds to pay down debt,

although some analysts expect some of the funds

...