Today's Finance Pulse
Cemex secures $3 bn revolving credit facility
Cemex signed a five‑year, US$3 bn syndicated revolving credit facility to fund general corporate purposes, including refinancing existing obligations. The loan imposes a maximum consolidated leverage ratio of 3.75× net debt to EBITDA and a minimum coverage ratio of 2.75× EBITDA.
Also developing:
By the numbers: Pemberton Asset Management closes $3.7bn fourth vintage fund
AI‑linked Firms Push U.S. Convertible Bond Issuance to $34 B in Early 2026
U.S. convertible bond issuance hit $34 billion in the first four months of 2026, more than twice the same period a year earlier, as AI‑related firms tap the market for capital. The surge, driven by large deals from Oracle, CoreWeave and others, puts the year on track to eclipse the $120 billion full‑year record set in 2025.
Osisko Development Announces Proposed Offering of US$275.0 Million Aggregate Principal Amount of Convertible Senior Notes
Osisko Development Corp. announced a proposed private placement of up to $275 million of convertible senior notes due 2031, including a $225 million base offering and an optional $25 million over‑allotment. An affiliated investor may purchase an additional $50 million of notes in a...
Roblox Launches up to $3 Billion Share Repurchase, Targeting $1 B Buyback in 12 Months
Roblox Corp. (RBLX) said its board approved a share‑repurchase program of up to $3 billion, with an initial $1 billion to be bought back within twelve months. The announcement came as the stock fell 5.4% to $44.45 before rebounding 2.7% to $45.65...
Value, Focus, and the Future of MedTech: M&A and Divestitures Are Rewriting the Strategic Playbook.
MedTech firms are reshaping portfolios by prioritizing market access, turning it into the primary driver of mergers, acquisitions and divestitures. Leaders now evaluate assets on reimbursement certainty, evidence strength and ASP durability rather than pure innovation. High‑profile deals such as...
8x8 Posts $185.2M Q4 2026 Revenue, Highlights 70% Surge in Usage‑Based Services
8x8 announced Q4 2026 revenue of $185.2 million, driven by a 70% year‑over‑year jump in usage‑based offerings that now represent 23% of service revenue. The company posted GAAP operating income of $19.8 million and trimmed debt by 43% since 2022, while guiding...
JP Morgan Warns FY27 Earnings Risk Could Push India’s Nifty to 20,500 in Bear Case
JP Morgan warned that a prolonged energy and logistics shock linked to the Middle East conflict could depress FY27 corporate earnings in India, pushing the Nifty 50 down to 20,500 in a bear scenario. The brokerage kept a base‑case target of 27,000,...
Pillar Private Lending Rolls Out Multifamily Cash‑Out Loan Program
Pillar Private Lending announced a new cash‑out refinancing product that evaluates multifamily assets on performance metrics rather than borrower income. The program, launched May 19, 2026, aims to unlock equity for owners who struggle with conventional lender requirements.
Upstart Applies for National Bank Charter to Cut Funding Costs After Weak Earnings
Upstart Holdings filed for a U.S. national bank charter days after reporting a disappointing quarter, hoping to tap cheap deposit funding and shift from a loan‑origination platform to a full‑stack lender. The move follows a $1.25 billion loan‑purchase agreement with Fortress...
Lockheed Martin Lands $879 M F‑35 Armament Contract, Bolstering Defense Revenue Outlook
Lockheed Martin announced a $879.1 million firm‑fixed‑price award for F‑35 armament production on May 18, adding to a string of multi‑billion‑dollar contracts that have lifted its shares 9.8% YTD. The deal, split between U.S. and foreign customers, underscores the company’s deepening revenue...
From Open Models to Closed Platforms: The Next Generation of AI-Backed RegTech Is Here
The regtech market is moving from open‑AI models that rely on external APIs to closed, internally hosted AI platforms. Legacy tools exposed data to third‑party servers and often generated high false‑positive alerts, while recent solutions store information in firm‑controlled data...
Fintech Firm Mercury Hits $5.2 Billion Valuation After Funding Round, up 49% in 14 Months
Fintech Mercury secured $200 million in a Series D round, lifting its valuation to $5.2 billion—a 49% increase over the prior round just 14 months earlier. The funding was led by TCV and included Sequoia, Andreessen Horowitz and Coatue. Mercury also received conditional OCC...
Aditya Birla Capital to Raise ₹4,000 Crore via Preferential Issue
Aditya Birla Capital (ABCL) announced a ₹4,000 crore (≈$480 million) preferential issue to raise fresh capital. The issue will be subscribed by its parent Grasim Industries for ₹2,880 crore, Singapore‑based Suryaja Investment for ₹200 crore, and the International Finance Corporation for ₹920 crore, at ₹356 per share....
Middle Market & Private Credit – 5/18/2026
Fitch released its first‑quarter 2026 snapshot of the privately monitored middle‑market credit portfolio it rates for asset managers. The rating distribution is heavily weighted toward B‑ (64%), with B at 25% and only 11% of issuers rated B+ or higher....
Hapag-Lloyd Acquisition Target Zim in the Red for Q1
Zim Integrated Shipping Services reported a $86 million net loss for Q1 2026, a sharp reversal from a $296 million profit a year earlier. Revenue fell 30% to $1.4 billion and TEU volumes slipped 8%, while average freight rates dropped 26% to $1,310 per...
TELUS Unveils $66 Billion Five‑Year Network Build, Triggers Major Financing Push
TELUS Corp. disclosed a $66 billion, five‑year capital program to expand its fiber and wireless infrastructure across Canada. The plan, which adds to a $2 billion PureFibre rollout in Ontario and Quebec, lifted the stock 0.69% and will require extensive debt, equity...
JPMorgan Warns Staff on Kalshi, Polymarket Use Amid $64 B Prediction‑market Surge
JPMorgan Chase sent a memo to its 320,000 employees urging caution when trading on prediction‑market platforms Kalshi and Polymarket. The guidance comes as weekly trading volume on the two sites jumps to roughly $64 billion, prompting regulators and banks to reassess...
Annovis Bio Raises $175 Million in Share and Warrant Offering to Advance Alzheimer’s Drug Buntanetap
Annovis Bio disclosed a $175 million public offering of shares and warrants to finance the Phase 3 development of its Alzheimer’s candidate Buntanetap. The financing move coincided with a 5.4% drop in the company’s stock, reflecting market caution. Proceeds will support the...
BOC Aviation Leases Three Boeing 737-8200 Jets to Akasa Air, Expanding Indian Low‑Cost Fleet
BOC Aviation has signed a purchase‑and‑leaseback agreement for three Boeing 737‑8200 jets with Indian low‑cost carrier Akasa Air, with deliveries slated for the end of 2026. The deal deepens BOC's presence in India's fast‑growing aviation market and highlights the rising...
Embracer Will Actively Explore Partnerships for Saints Row, TimeSplitters, and More
Embracer Group announced it will split into two entities, creating Fellowship Entertainment to house flagship franchises such as Tomb Raider and The Lord of the Rings. The new unit will also inherit dormant IPs like Saints Row, TimeSplitters, Deus Ex and others, and will form a dedicated...
Easy New 20y Auction, Positive TU Futures Roll
Should be an easy new 20y auction today with the backup in yields which will set up an interesting futures roll next week where the TU contract finally has a positive roll (2.5). Also, TU and FV could still...
Jahez Needed Snoonu
Jahez completed a 76.5% acquisition of delivery platform Snoonu for $245 million in July 2025, roughly 16% of Jahez’s market cap at the time. Snoonu, generating about $140 million in annual net revenue, now contributes up to 36% of Jahez’s quarterly revenue, fueling...
Energy Storage Firms Raise $2.3 Billion in Q1 2026 as Funding Activity Rises: Report
Corporate funding for energy‑storage firms reached $2.3 billion in Q1 2026, up 5% YoY and spread across 38 deals. Venture‑capital inflows grew 9% to $1.2 billion, while debt and public‑market financing contributed $1.1 billion. Deal activity surged 44% year‑on‑year, and mergers and acquisitions jumped...
Curve Swings to £9m Loss as Lloyds Takeover Remains Incomplete
Curve, the London‑based digital‑wallet fintech, posted a £9.5 million loss (about $12.1 million) for FY 2024, reversing a £3 million profit the year before. Revenue fell to £37 million ($47 million) while cost of sales rose to nearly £14 million ($17.8 million), squeezing margins. The company’s headcount dropped...
Leading Issuers Characterized by More Active Strategic Work
DebtBook CEO Tyler Traudt presented a University of Chicago draft study showing that municipal issuers who monitor cash daily and forecast a year ahead secure significantly lower borrowing costs—up to 15 basis points for AA‑plus issuers. The research highlights that...
10‑Year Treasury Yield Tops 4.5%, Raising Stakes for Commercial Real Estate Financing
U.S. 10‑year Treasury yields breached the 4.5% ceiling, climbing to 4.6% and prompting a sharp reassessment of financing costs for commercial real‑estate investors. Industry leaders warn the surge could strain $930 billion of debt maturing this year and curb new loan...
Versant IPO Puts Cable Networks Like CNBC and MSNBC in Public Market
Versant, a newly public company spun out of Comcast, launched an IPO that puts seven linear and four digital cable networks—including CNBC and MSNBC—into the public market. CEO Mike Lazarus says the cash flow from those assets will fund a...
Hongkong Land Launches $0.8‑Discount‑Driven Revamp to Cut Hong Kong Dependence
Hongkong Land's new CEO, Jeremy Smith, announced a sweeping transformation that will wind down its residential build‑to‑sell arm, divest non‑core assets and lower single‑market exposure to under 40%. The plan, backed by controlling shareholder Jardine Matheson, aims to shift the...
InMed‑Mentari All‑Stock Merger Sends Shares Up 160% and Triggers $290 Million Private Placement
InMed Pharmaceuticals announced an all‑stock merger with privately held Mentari Therapeutics, sending InMed shares up as much as 160% in a single session. The deal is accompanied by an oversubscribed $290 million private placement led by Fairmount and a slate of...
Standard Chartered to Cut 7,000 Back‑Office Jobs by 2030 in AI‑Driven Restructuring
Standard Chartered announced it will slash more than 7,000 back‑office positions – about 15% of its corporate function workforce – by 2030, redirecting savings into AI‑powered risk and compliance tools. The plan targets a 20% rise in income per employee...
Amanat Acquisition Prices IPO at $10, Raising $75 Million
Amanat Acquisition Corp. (AMAN) priced its initial public offering at $10 per share, selling 7.5 million Class A ordinary shares and raising $75 million. The SPAC also secured a 45‑day over‑allotment option for an additional 1.125 million shares and will begin trading on Nasdaq...
SoFi Technologies Posts Wider Q1 Losses as Digital Banking Growth Slows
SoFi Technologies reported a larger-than‑expected first‑quarter loss, widening its deficit even as revenue jumped 43%. The digital‑banking firm’s stock fell 3% on the day, extending a 41% year‑to‑date decline, as investors worry about slowing loan growth, soaring Treasury yields and...
Schwab Urges Investors to Prioritize Free Cash Flow over Earnings
Charles Schwab released a May 12 report urging investors to focus on free cash flow rather than headline earnings. The analysis cites data showing top‑quartile free‑cash‑flow firms outperformed the S&P 500 by over three percentage points annually, and warns that...
Hema Co-Financed Its Own Acquisition
Hema helped finance its own takeover by granting a €60 million (≈ $65 million) loan to Mississippi Ventures, the Van Eerd family’s investment vehicle. The loan allowed the family, already holding 50% of Hema, to purchase the remaining stake from Amsterdam‑based Parcom, completing the...
Nordson Corp (NDSN) Q2 2026 Earnings Call Transcript
Nordson Corp reported record first‑quarter sales of $669 million, a 9% year‑over‑year increase, driven by 7% organic growth and a favorable currency effect. Advanced Technology Solutions (ATS) led segment growth with a 23% sales jump, reflecting strong semiconductor demand, while Industrial...
VF Corp (VFC) Q4 2026 Earnings Call Transcript
VF Corporation reported fiscal Q3 revenue of $2.8 billion, a 2 percent increase on a constant‑dollar basis, driven by strong performances at The North Face, Timberland and Altra. Adjusted gross margin rose to 54.5 percent and operating margin improved to 12.1 percent, while DTC sales...
Intuit Inc (INTU) Q3 2026 Earnings Call Transcript
Intuit reported Q3 FY26 revenue of $8.6 billion, up 10% year‑over‑year, and GAAP operating income of $4 billion, surpassing its own guidance. The company raised full‑year revenue and earnings forecasts, driven by strong growth in TurboTax Live, Credit Karma, and QuickBooks Online....
Dorian LPG Ltd (LPG) Q4 2026 Earnings Call Transcript
Dorian LPG reported a strong Q2 2022 performance, achieving 95.7% fleet utilization and a daily TCE of $29,647. Adjusted EBITDA reached $34.4 million after excluding a $3.5 million gain on the sale of the Captain Markos vessel. The company repurchased two scrubber vessels, reducing...
Lowe's Companies Inc (LOW) Q1 2027 Earnings Call Transcript
Lowe's reported first‑quarter revenue of $20.9 billion, with comparable sales down 1.7% but meeting internal forecasts. Gross margin improved to 33.4% of sales, up 19 basis points, while operating margin held at 11.9% and free cash flow reached $2.9 billion. The company...
Scilex Holding Co (SCLX) Q1 2026 Earnings Call Transcript
Stepan Company reported Q1 2026 organic net sales growth of 4% while adjusted EBITDA slipped 14% to $50 million, driven by weaker surfactant earnings and higher raw‑material costs. A $65.4 million pretax restructuring charge led to a reported net loss of $41.4 million,...
RLX Technology Inc (RLX) Q1 2026 Earnings Call Transcript
RLX Technology reported Q1 2026 net revenue of RMB1.1 billion, up 49% year‑over‑year, driven by strong international expansion and new product launches. Non‑GAAP operating profit reached RMB188 million, marking the eighth straight quarter of profitability and a gross margin expansion of four...
‘Not Clear’ if Sizewell C Investors Are Incentivised to Keep Costs Down
The UK National Audit Office (NAO) warned that investors in the Sizewell C nuclear plant may lack strong incentives to curb construction costs, which are estimated at $48.9 bn and could rise to a regulatory ceiling of $61.1 bn. While investors would face...
FASB Publishes New Environmental Credit Standard
The Financial Accounting Standards Board released an Accounting Standards Update on May 19 that establishes GAAP guidance for accounting and disclosing environmental credits and related obligations. The ASU defines when credits are recognized as assets, differentiates compliance from non‑compliance credits for...
Value Emerges When Every Dollar Beats Cost of Capital
Michael Mauboussin on the One Dollar Test "A company creates value when one dollar invested in the business is worth more than one dollar in the market. This happens when the firm is able to make investments that generate a return...
Brookfield Office Properties Announces Redemption of Class AAA Preference Shares, Series CC
Brookfield Office Properties Inc., a subsidiary of Brookfield Property Partners, announced on May 19, 2026 that it will redeem all 7,982,204 outstanding Class AAA Preference Shares, Series CC on June 30, 2026. Each share will be bought back for C$25 (approximately $18.5 USD). In addition, a final...
Redditors For Quarterly Reporting
The U.S. Securities and Exchange Commission has issued a proposed rule that would let listed companies choose semi‑annual instead of quarterly financial reporting. The suggestion has drawn sharp criticism from the Reddit community r/wallstreetbets, which argues that quarterly 10‑Qs give...
Sherlocq Launches First AI‑Native Regulatory Intelligence Platform for Global Finance
Sherlocq announced the public launch of an AI-native regulatory intelligence platform for global financial services, covering more than 30 jurisdictions and integrating live connectors for Claude and ChatGPT. The tool promises to cut hours of manual research to seconds, targeting...
XP Inc. Names Gustavo Alejo CFO Effective Aug 2026
XP Inc. appointed veteran banker Gustavo Alejo as its chief financial officer, effective August 3, 2026, replacing long‑time CFO Victor Mansur. The transition will be overseen by CEO Thiago Maffra as interim CFO, ensuring continuity as XP accelerates its growth...
Saks Global CEO on Next Steps in Bankruptcy Process, Path To Growth
Saks Global, the multi‑brand luxury retailer, filed for bankruptcy four months ago and has now secured $1.25 billion of liquidity, including $500 million of exit financing. The restructuring plan, backed by lenders and key brands, aims to emerge in June with $700 million...
Commerzbank Rejects UniCredit's €39 Billion Takeover Offer, Stalling European Banking Consolidation
Commerzbank’s supervisory and management boards told shareholders on May 18 to reject UniCredit’s €39 billion ($45.4 billion) exchange offer, arguing the price undervalues the German lender and could jeopardize shareholder value. The refusal adds a new hurdle to UniCredit’s push for pan‑European consolidation.
Crocs: $4.7B Cash‑flow Machine, Not Just a Fad
Day 28 of 30: How $CROX Crocs actually makes money Most people think they just sell a passing fad of ugly foam clogs They don't...they are quietly running a $4.7 billion cash-flow machine with some of the best profit margins in apparel Here...