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Shares of Altice USA were trading at $32 Thursday morning, above its issue price, as the cable-operator made its debut on the New York Stock Exchange as the second-largest initial public offering of the year. Altice sold 63,943,029 shares at $30 each to raise $1.9 billion, putting it just behind Snap Inc. , which raised $3.9 billion in March. The $30 issue price gave Altice a public market capitalization of more than $20 billion. Altice sold about 12 million of those shares, while the rest were sold by shareholders. BC Partners and the Canada Pension Plan Investment Board have granted underwriters a 30-day option to buy 7.78 million additional shares.J.P. Morgan, Morgan Stanley, Citigroup and Goldman Sachs & Co. are the underwriters on the offering.

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A popular fund used to invest in the biotechnology sector on Thursday was on track for its best weekly gain in seven months, according to FactSet data. The iShares Nasdaq Biotechnology ETF was up 1.3% on the day and looking at a 9.3% weekly advance, which would mark its best such gain since the week ended Nov. 11. Gains in the exchange-traded fund were being aided by a 13% climb in shares of XBiotech Inc. and a 8% jump in Sangamo Therapeutics Inc. [: SGMO]. The moves come as the U.S. Senate is soon set to reveal a health-care bill and as President Donald Trump has talked about making changes to drug pricing. Health-care stocks were the best performer in the S&P 500 index in early Thursday trade. The S&P 500 index was trading flat at 2,435, while the Dow Jones Industrial Average was up less than 0.1% at 21,420. The Nasdaq Composite Index , meanwhile, where biotech is a big component, was little-changed at 6,231.

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If Qatar Airways buys a 10% stake in American Airlines Group Inc. , like it told the air carrier that it plans to do, the company will be tied with Warren Buffett’s Berkshire Hathaway Inc. as American’s third-largest shareholder. Berkshire owned 49.3 million shares of American, or a 10.0% stake, as of the end of March. That’s behind T. Rowe Price Associates Inc., which owned a 10.9% stake, and Primecap Management Co., which owned a 10.2% stake, according to FactSet. American Airlines’ stock rallied $1.55, or 3.2%, in morning trade, meaning Buffett’s stake could be worth $76.4 million more than it was Wednesday. American’s stock has run up 24% over the past three months, while the NYSE Arca Airline Index has gained 7.0% and the S&P 500 has tacked on 3.7%.

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Stocks edged marginally higher in early action Thursday as investors kept a wary eye on volatile oil prices. The S&P 500 rose 0.1% to 2,437.52, while the Dow Jones Industrial Average rose 3 points. The Nasdaq Composite was up 0.1%. Oil futures bounced higher after hitting a 10-month low on Wednesday. Shares of American Airlines Group Inc. rose 3.8% after Qatar Airways expressed interest in buying a large stake in the carrier.

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Shares of DryShips Inc. changed hands at $3.74 in premarket trade as the reverse stock split took effect, tumbling 12% from the split-adjusted close of $4.25. The stock had closed at 85 cents on Thursday, before the 1-for-5 reverse split took effect. The stock had plunged 51% the past three sessions, after ocean-going cargo vessel company announced the reverse split ahead of Monday’s open. That stock had already lost 99.9% of its value year to date through Wednesday, while the S&P 500 has gained 8.8%.

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Ritz-Carlton, a Marriott International Inc. brand, said Thursday that it’s launching a luxury cruise service with three yachts in the fourth-quarter of 2019. The Ritz-Carlton Yacht Collection’s first ship will cruise to places including the Mediterranean, Northern Europe, the Caribbean and Latin America, depending on the season. The ships are small-capacity vessels that accommodate 298 passengers with 149 suites each with a private balcony, and two penthouses. Because of the intimate size of the yachts, ships will be able to call at locations like Capri and Portofino that are inaccessible to large cruise ships. The yachts are also available for private charter. Reservations open in May 2018. Marriott shares are unchanged in premarket trading and up 53.7% for the last year. The S&P 500 index is up 16.8% for the last 12 months.

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Sears Canada Inc. said Thursday that it has applied to the Ontario Superior Court of Justice for creditor protection as it pursues a corporate restructuring. Over the past 18 months, the company has rebuilt its technology platform, revamped its assortment, and rebooted its branding and customer service, the company said. If the creditor protection is granted, Sears Canada says it would like to exit “as soon as possible in 2017.” Sears Canada shares are halted in premarket trading, and are down 84.6% for the last year. Sears Holdings Corp. owns an 11.7% stake in Sears Canada, according to FactSet. Sears Holdings shares are unchanged in premarket trading, and down 53.1% for the past 12 months. The S&P 500 index is up 16.8% for the past year.

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Shares of Barnes & Noble Inc. ran up 3.1% in premarket trade Thursday, after the bookseller reported a narrower-than-expected fiscal fourth-quarter loss and sales that beat expectations. The net loss for the quarter to April 29 was $13.4 million, or 19 cents a share, compared with a loss of $30.6 million, or 42 cents a share, in the same period a year ago. The FactSet consensus for losses per share was 23 cents. Revenue fell to $821.2 million from $876.7 million, but was above the FactSet consensus of $783 million. Same-store sales fell 6.3% from a year ago, while online sales increased 2.9%. For fiscal 2018, the company expects same-store sales to decline in the “low single digits” percentage range, an improvement from the fiscal 2017 decline of 6.3%. “In fiscal 2018, we are focusing on ways to improve the business and reignite sales through an aggressive test and learn process and companywide simplification process that will take out costs,” said Chief Executive Demos Parneros. The stock had plunged 42% year to date through Wednesday, while the SPDR S&P Retail ETF has lost 12% and the S&P 500 has gained 8.8%.

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Shares of airline companies rallied in premarket trade Thursday, after Qatar Airways expressed interest in buying a large stake in American Airline Group Inc. . American said Qatar had interest in buying 10% of its common stock outstanding. Based on American’s market capitalization as of Wednesday’s close, a 10% stake would be worth about $2.39 billion. American’s stock ran up 5.3% in premarket trade. Among other air carriers, shares of United Continental Holdings Inc. rose 1.3%, Delta Air Lines Inc. climbed 1.4%, Southwest Airlines Co. gained 1.9%, JetBlue Airways Corp. advanced 1.2% and Alaska Air Group Inc. tacked on 1.1%. The NYSE Arca Airline Index has gained 3.8% year to date, to close Wednesday 2.5% below the near 16-year high hit on June 7. The S&P 500 has gained 8.8% year to date.

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