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Tony Owusu: SmileDirectClub gave investors a reason to frown on Thursday during his IPO, after it debuted with the price of $20 and 55 cents, which was about 10% below suggested IPO price of $23 per share. The company operates about 300 locations and has partnerships with CVS and Walgreens. Speaking of Walgreens, the drugstore is down more than 3% Thursday at their ad announced that it'll be offering 3% cash-back to customers who use Apple card with apple pay to pay for prescriptions at the store. Finally, Caterpillar was falling at their analysts at Wells Fargo downgraded the stock on inventory and backlog concerns. They say that customers no longer want to buy equipment, they'd rather rent, and the channel check suggests that the third quarter could be tough for the company.

SmileDirectClub's (SDC) opening trade gave investors reason to frown Thursday after the stock debuted at $20.55 per share, about 10% below the company's suggested IPO price of $23 per share. The teeth straightening product maker currently has 300 centers including partnerships with CVS (CVS - Get Report) and Walgreens (WBA - Get Report) .

Walgreens to give customers using Apple's credit card the Apple Card 3% cash back on purchases. Eligible purchases include prescriptions bought at Walgreens and Duane Reade stores and those made on the Walgreens app and its website. Walgreens was down 3.5% Thursday while Apple shares rose 0.6%.

Caterpillar (CAT - Get Report) was falling Thursday after Wells Fargo downgraded the stock to market perform after channel checks suggested that demand for new equipment is dropping, leading to increased inventories and shrinking backlogs. At the same time, Wells Fargo says customers are more interested in renting equipment than buying.

Related: Something to Smile About? SmileDirectClub's IPO

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