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Collaborative design software company Figma has increased the price target for its highly anticipated initial public offering (IPO). Shares are now expected to be priced between $30 and $32 each, up from the previously disclosed price target range of $25 and $28 each. The cloud-based interface design tool is aiming for a valuation of around $18.8 billion, dramatically higher than last week’s projection but still below the $20 billion that Adobe had planned to pay for the company a few years ago. Figma disclosed the expected price target increase on Monday in an amended registration statement with the Securities and Exchange Commission (SEC). The San Francisco-based company confidentially filed an initial S-1 form with the SEC in April. On July 1, Figma announced its registration statement was available to the public. IPO market is heating up this year Figma will trade on the New York Stock Exchange (NYSE) under the ticker FIG. The listing, reportedly expected this week, could be among the year’s biggest. It comes as the market for tech-focused offerings has been roaring back to life. Circle Internet Group, Chime Financial, and Hinge Health are among the buzzy tech startups that have gone public this year. In addition to Figma, space tech company Firefly Aerospace is also expected to IPO soon. In September 2022, Adobe (NYSE: ADBE) had announced plans to buy Figma for $20 billion in cash and stock. But the merger was scrapped due to antitrust concerns raised by European and U.K. regulators. In December 2023, both companies announced that they had mutually agreed to terminate their merger agreement. Adobe paid Figma a $1 billion termination fee. In its SEC paperwork, Figma reported $228.2 million in revenue for the first three months of 2025. The company reported $749 million in revenue in 2024, an increase of 48% year-over-year. The design software maker has 13 million monthly active users.
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Boeing’s second-quarter loss narrowed and revenue improved as the aircraft manufacturer delivered more commercial planes in the period.Boeing Co. lost $611 million, or 92 cents per share, for the three months ended June 30. A year earlier it lost $1.44 billion, or $2.33 per share.Adjusting for one-time gains, Boeing lost $1.24 per share. This was better than the loss of $1.54 per share that analysts surveyed by Zacks Investment Research expected.Shares rose slightly before the market open on Tuesday.Revenue climbed to $22.75 billion from $16.87 billion, mostly due to 150 commercial deliveries compared with 92 deliveries in the prior-year period.The performance topped Wall Street’s estimate of $21.86 billion.“Our fundamental changes to strengthen safety and quality are producing improved results as we stabilize our operations and deliver higher quality airplanes, products and services to our customers,” CEO Kelly Ortberg said in a statement. “As we look to the second half of the year, we remain focused on restoring trust and making continued progress in our recovery while operating in a dynamic global environment.”Boeing has been dealing with a variety of issues over the past few years.On Sunday Boeing said that it expects more than 3,200 union workers at three St. Louis-area plants that produce U.S. fighter jets to strike after they rejected a proposed contract that included a 20% wage increase over four years.The International Machinists and Aerospace Workers union said the vote by District 837 members was overwhelmingly against the proposed contract. The existing contract was to expire at 11:59 p.m. Central time Sunday, but the union said that a “cooling off” period would keep a strike from beginning for another week, until Aug. 4.Last fall, Boeing offered a general wage increase of 38% over four years to end a 53-day strike by 33,000 aircraft workers producing passenger aircraft.In June the National Transportation Safety Board said that its 17-month long investigation found that lapses in Boeing’s manufacturing and safety oversight, combined with ineffective inspections and audits by the Federal Aviation Administration, led to a door plug panel flying off Alaska Airlines flight 1282, which was a Boeing 737 Max 9 aircraft, last year.Boeing said in a statement at the time that it will review the NTSB report and will continue working on strengthening safety and quality across its operations.The Max version of Boeing’s bestselling 737 airplane has been the source of persistent troubles for the company since two of the jets crashed, one in Indonesia in 2018 and another in Ethiopia in 2019, killing a combined 346 people.In May the Justice Department reached a deal allowing Boeing to avoid criminal prosecution for allegedly misleading U.S. regulators about the Max before the two crashes.Boeing was also in the news last month when a 787 flown by Air India crashed shortly after takeoff and killed at least 270 people. Investigators have not determined what caused that crash, but so far they have not found any flaws with the model, which has a strong safety record. Michelle Chapman, AP Business Writer
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E-Commerce
Stellantis has forecast that U.S. tariffs would cost it 1.5 billion euros ($1.7 billion) this year, five times the hit taken in the first six months of the year when the carmaker tallied losses of 2.3 billion euros ($2.65 billion).The maker of Jeep, Chrysler, Fiat, and Peugeot cars said Tuesday that net profits plummeted from 5.6 billion euros ($6.5 billion) in the same period last year as it burned 3.3 billion euros ($3.8 billion) in cash for the cancellation of a hydrogen fuel cell project, changes in the fine regime for U.S. carbon emission regulations, and write-downs on platform investments.U.S. President Donald Trump’s tariffs cost the company 300 million euros ($346 million) in the first six months of the year, Stellantis said. During the period, U.S. shipments were down by nearly a quarter as the carmaker reduced the importation vehicles produced abroad.Stellantis said it expected net revenues to increase over the next six months compared with the first half of the year, when they dropped 13% to 74.3 billion euros ($85.7 billion). The carmaker also said cash flow would improve.Incoming CEO Antonio Filosa, who was confirmed in the role last month, said the new executive team “will continue to make the tough decisions needed to re-establish profitable growth and significantly improve results.”“My first weeks as CEO have reconfirmed my strong conviction that we will fix what’s wrong with Stellantis,” Filosa said in a statement. Associated Press
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