Today's Finance Pulse
SpaceX files for record‑size IPO, targeting $50B‑plus raise and $1T valuation
SpaceX confidentially filed for an IPO slated for June 2026, aiming to raise at least $50 billion and push its valuation above $1 trillion. Founder Elon Musk holds roughly 44 percent of the company, giving him a net worth of about $823 billion. The filing positions the rocket and satellite maker among the most valuable public companies ever.
Also developing:
By the numbers: Berkshire Hathaway invests $10B in Alphabet's private placement
Sandisk Corp (SNDK) Q3 2026 Earnings Call Transcript
SanDisk Corp reported Q3 2026 revenue of $3.025 billion, a 31% sequential and 61% year‑over‑year increase that beat its $2.55‑$2.65 billion guidance. Non‑GAAP gross margin surged to 51.1% and operating margin to 37.5% as pricing strength and a $35 million non‑recurring expense benefit lifted profitability. Data‑center sales jumped 64% QoQ, propelled by AI‑driven storage demand, while edge and consumer segments also posted strong growth. The company ended the quarter with $936 million net cash, reduced debt, and issued guidance for $4.4‑$4.8 billion revenue with 65‑67% margins in the next quarter.
Select Medical Holdings Corp (SEM) Q1 2026 Earnings Call Transcript
Select Medical reported Q4 2025 revenue growth of over 6% while adjusted EBITDA fell 10% to $104.7 million, driven by an unexpected $15 million health‑insurance expense and $6 million variable discounts in outpatient rehab. The Board is evaluating a nonbinding take‑private proposal...
Reallocating IT Budgets Around Unequal AI Outcomes
. @satyanadella today: “IT budgets get reshaped by business outcomes and reallocation from other line items on the income statement.” He is right, per seat breaks when two users consume AI completely differently. Consumption pricing is the easy part. Reorganizing enterprise...
Meta's Tax Win Skews Earnings Multiple, AI Doubts Remain
$META Tax rate in Q1: -23% It trades at 23x earnings after today’s results, but if you use GAAP accounting it’s more like 18x because there was a massive tax saving in Q1. On a cumulative basis, Meta had a $15B+...
Scottish Friendly Records Highest Sales in 164-Year History
Scottish Friendly posted record overall sales of £56.1 m (≈ $71.8 m) for 2025, the highest in its 164‑year history. Core ISA products surged 60% year‑on‑year, while £23 m (≈ $29.4 m) was returned to members, including £4.9 m via its ProfitShare scheme. Assets under management climbed...
American Airlines Cuts Airbus A321XLR Order, Sells $1 Billion In Bonds For Over 30 New Planes
American Airlines reduced its Airbus A321XLR order from 50 to 40 jets while raising $1.14 billion through aircraft‑backed bonds to fund 17 new aircraft, refinance loans on 15 others, and shore up liquidity. The bond issuance ties repayment to the new...
RRE Ventures Acquisition Corp. (RREVU) Prices $250M IPO
RRE Ventures Acquisition Corp. has priced its $250 million special purpose acquisition company (SPAC) and will begin trading on Nasdaq under the ticker RREVU on April 30, 2026. The SPAC seeks a merger partner in defense, space, robotics, quantum computing, or professional sports,...
Media Fact Check: No, the Budget for California High-Speed Rail Didn’t Just Grow by $100 Billion
The California High‑Speed Rail Authority released a new business plan that caps the Los Angeles‑San Francisco line at $126 billion, far below the $231 billion figure circulating in the press. The $231 billion number appears only in a worst‑case scenario within the plan and...
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Revenue Deficit: Definition, Example, and How It's Calculated
A revenue deficit arises when actual earnings fall below budgeted projections, highlighting a shortfall between projected revenue receipts and real inflows. Unlike a fiscal deficit, which includes capital spending, a revenue deficit focuses solely on operating income. The gap can...
In Chiesi’s Biggest M&A Deal yet, Pharma Buys HAE Company KalVista
Italian pharmaceutical group Chiesi announced the acquisition of U.S. biotech KalVista for approximately $1.5 billion in cash, marking its largest M&A transaction to date. KalVista, a specialist in hereditary angioedema (HAE), brings a late‑stage monoclonal‑antibody program and a pipeline of complement‑targeted...
Renasant Corporation (RNST) Q1 2026 Earnings Call Transcript
Renasid Corporation reported first‑quarter 2026 earnings of $0.93 per share, beating analysts by $0.09. Revenue reached $278.7 million, a 60.3% year‑over‑year increase and $2.99 million above expectations. The results were driven by robust loan growth and favorable interest‑rate dynamics. Management highlighted disciplined...
Consultants Demand Equity as AI Threatens Debt
The tough conversation goes something like this: Step 1: We hired consultants Step 2: They say AI will disrupt you Step 3: Please inject equity to protect our debt
Low Debt Keeps Good Companies Alive in Recessions
I've watched good companies destroy shareholder value during recessions. Not because the business failed. Because the balance sheet forced their hand. Debt covenants. Liquidity crunches. Share issuances at $12 when the stock was $40. You can be right about the business and still lose...
Comerica Bank Acquires 26,436 Shares of SiteOne Landscape Supply, Inc. $SITE
Comerica Bank increased its stake in SiteOne Landscape Supply (NYSE:SITE) by 24.4% in Q4, adding 26,436 shares to a total of 134,716 shares, representing about 0.30% of the company and valued at roughly $16.78 million. The move follows sizable purchases by...
Lenders Seize Medallia, Opt for Cash Control
Lenders taking the keys from Thoma Bravo on Medallia is actually the right call. Imagine the BSL version. Uptiers, primings, LMEs. Sponsor kicks the can for 18 months and plays for optionality with your principal. At least here, lenders can take the...
Net Backyard Introduces Cost‑Based Token Pricing Layer
just visited the new @netbackyard office and 🥹🥹🥹 if you haven’t read it yet, they’re building a financial layer (accounting, billing, payments) to price tokens based on infrastructure cost, model efficiency, and execution conditions 👇 https://t.co/vEEcSgiCux
Everest Reports First Quarter 2026 Results
Everest Group posted a strong first‑quarter 2026, delivering $653 million net income, or $16.21 per share, more than triple the prior‑year figure. Gross written premium slipped 18.5% to $3.6 billion, yet the combined ratio improved to 91.2%, reflecting disciplined underwriting. Investment income...
Amazon Reaffirms No Changes to Capital Strategy
Amazon says “don’t have a new update on capital. Our plan is largely the same.” $AMZN
Big 12 Secures Private Capital Deal, Outpaces Big Ten
The Big 12 has finalized its deal for private capital, per @RossDellenger In Dec., the Hotline addressed the basics, why it works for the B12 and how it differs in key areas from the Big Ten's (now comatose) capital plan https://t.co/NBgyjFLlGz
Today's Weakness Mostly War-Related With Small Boost From Fed
U.S. Treasury yields climbed to 4.42% on Wednesday, driven primarily by heightened geopolitical risk from a potential Strait of Hormuz blockade. The Federal Reserve’s policy announcement added only a marginal uptick, with yields rising one basis point after the meeting....
30‑Year Treasury Yield Reaches 5%, Near 18‑Year
*US 30-YEAR YIELD TOUCHES 5% FOR FIRST TIME SINCE JULY 2025 Now just 11 bps from a new 18-year high. https://t.co/Aow1azOUWb
GOOG CFO Predicts Capex Surge, Likely 20‑30% Rise
$GOOG CFO says capex in 2027 will increase "substantially" over 2026. Street is expecting up 10%. My take: I bet it's up 20-30% next year.
#58874
Two Harbors Investment Corp shareholders will vote on May 19, 2026 to approve an amended merger with a CrossCountry Mortgage subsidiary. If the deal closes, each TWO common share converts to a cash entitlement of $11.30, up from the previously announced $10.80....
FinCEN Proposes Reforms to AML/CFT Program Requirements
FinCEN issued a proposed rule to overhaul AML/CFT program requirements under the BSA, replacing its 2024 draft. The rule introduces a two‑pronged establishment‑versus‑maintenance framework, codifies risk‑based policies, and mandates board approval of programs across banks, casinos, MSBs and other institutions....
Morningstar DBRS Confirms BCI QuadReal Realty Trust at AA (Low) With a Stable Trend
Morningstar DBRS confirmed that BCI QuadReal Realty Trust (BQRT) retains an AA (low) issuer rating, AA (low) senior notes rating, and R‑1 (low) commercial paper rating, all with stable trends. The Trust, a successor to BCI QuadReal Realty, benefits from...
The Department of War Broke Up with KPMG, KPMG Gives Up Federal Audits Altogether
KPMG announced it will wind down its federal government audit practice after the Pentagon terminated a $60 million‑a‑year contract, ending a decade‑long audit of the U.S. Army. The firm will redeploy more than 450 U.S. staff to advisory roles and will...
Treat Stripe as Your Main Account Balance
One thing I wonder is how you do accounting for this? I guess not so different, cause you still just account your expenses and your income, but the main balance just becomes Stripe?
Intuit Financial Intelligence Apps Now Available in Claude
Intuit announced that its suite of financial‑intelligence apps—QuickBooks, Mailchimp, TurboTax and Credit Karma—are now available inside Anthropic’s Claude chat platform. The integration lets consumers and small‑to‑mid‑size businesses retrieve tax estimates, run credit‑score analyses, generate marketing copy and pull financial reports...
Potomac Tech Wire - April 29
Washington‑area tech firms saw a wave of capital activity in late April. Rilian raised $17.5 million in seed funding for its AI‑driven cybersecurity platform, while X‑energy’s IPO pulled in $1.02 billion, valuing the nuclear‑tech company at $8.4 billion. The Department of Defense made...
Humana Q1 Profit Falls to $1.18 Billion as Medical Costs Rise
Humana Inc. posted first‑quarter profit of $1.18 billion, down from $1.24 billion a year earlier, as medical cost inflation eroded margins. Revenue surged 23.5% to $39.64 billion, reflecting higher enrollment and service utilization. The results underscore pressure on U.S. health‑insurers and signal broader...
GM Boosts Q1 2026 EBIT by $500 Million on Supreme Court Tariff Refund
General Motors lifted its adjusted EBIT to $4.3 billion and nudged full‑year guidance up $500 million, thanks to a Supreme Court‑mandated tariff refund. The boost came as total revenue slipped $400 million, underscoring the mixed impact of policy, EV restructuring and market dynamics...
OpenAI's Profitability Woes Threaten AI‑Powered Marketing Landscape
OpenAI has warned it may miss internal growth targets and could struggle to fund $600 bn of future computing contracts. The announcement rattles investors and raises concerns for marketing firms that depend on OpenAI’s models for content creation and personalization.
American Tower Q1 2026 Property Revenue Rises 3% YoY on Data Center Surge
American Tower Corp. posted a 3% year‑over‑year increase in Q1 2026 consolidated property revenue, excluding non‑cash items and FX impacts. The gain was powered by a 17% rise in data‑center revenue, while the company lifted full‑year guidance and boosted its...
Meta Posts 33% Revenue Jump, $26.8B Profit Before Layoffs
Meta Q1 Revenue Soars 33% in Q1, Net Profit Hits $26.8 Billion Ahead of Mass Layoffs https://t.co/XY24l3vt2Q via @variety
PIF to End LIV Golf Funding After Season
News: LIV Golf is expected to tell players and staff as early as tomorrow that Saudi’s sovereign wealth fund PIF will be wrapping up investment in LIV at the end of the season, according to people familiar with the matter....
Cushing Asset Management Exits Hess Midstream with $50 M Stake Sale
Cushing Asset Management, operating as NXG Investment Management, sold all 1,357,200 Hess Midstream shares for an estimated $50.29 million in Q1 2026. The divestiture removes the midstream partnership from Cushing’s 13F portfolio and signals a shift toward more diversified energy assets.
Schwab Flags Over‑Concentration Risk, Urges Options Hedging for High‑Performing Stocks
Charles Schwab warns that any single stock exceeding 10% of a portfolio creates over‑concentration risk, and a 40% plunge could shave 8% off total value. The firm advises investors to use options—especially protective puts—to offset downside while preserving upside potential....
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Virtual Data Rooms (VDR): Secure Document Sharing for M&A
Virtual data rooms (VDRs) are cloud‑based platforms that centralize confidential documents for M&A, IPOs, audits and joint ventures. They replace physical rooms by offering instant, multi‑party access while enforcing strict permission controls such as view‑only, no‑print and watermarking. Providers have...
Sage Launches AI‑Powered HCM Platform for Construction, Promising Faster Payroll
Sage announced Sage HCM, an AI‑enabled human capital management suite built on Sage Intacct, to unite payroll, HR and financial data for mid‑market construction firms in North America. The platform, showcased at Sage Future in San Francisco April 28‑30, aims to eliminate...
CareDx Q1 2026 Earnings: COO Keith Kennedy Highlights 39% Revenue Rise and $170 M Lab Divestiture
CareDx posted $118 million in first‑quarter revenue, up 39% year over year, as COO and CFO Keith S. Kennedy detailed a shift toward higher‑margin testing services, a $170 million lab‑products divestiture, and a push for operational efficiency. The results set a new...
FirstEnergy Beats Q2 2025 Estimates, GAAP EPS Rises to $0.46
FirstEnergy reported Q2 2025 GAAP earnings per share of $0.46, far exceeding the $0.08 consensus, and reaffirmed its upper‑half EPS guidance for the year. The utility cited disciplined O&M spending, a $2.5 bn infrastructure investment to date, and a $1.6 bn debt‑reduction...
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Understanding Petty Cash: Usage, Accounting, and Best Practices
Petty cash is a small, on‑hand cash reserve—usually $100‑$500—used for incidental business expenses such as office supplies or employee reimbursements. A designated custodian disburses funds, collects receipts, and initiates periodic replenishments, while reconciliation ensures the cash‑in‑hand matches documented vouchers. Although...
India’s M&A Boom Persists in 2026, Driven by Investor Confidence
India’s merger‑and‑acquisition market remained robust throughout 2026, with inbound capital from the United States and the Middle East offsetting global headwinds. Stability in policy and a growing appetite for warranty‑and‑indemnity insurance are helping the country outpace other emerging economies.
Payment Models Taking Shape for Advanced Therapies: Fran Gregory, PharmD
Advanced therapies priced up to $4 million are prompting a rethink of how they are funded. Fran Gregory of Cardinal Health says the gap between limited launch data and payer expectations can be bridged with robust real‑world evidence. The company is...
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Without Recourse Explained: Key Differences From With Recourse
The article explains that a "without recourse" clause shifts all default risk to the buyer or new lender, releasing the original seller or endorser from future claims. It contrasts this with "with recourse" arrangements where the original party remains liable....
EQT Raises €3.1 Bn ($3.6 Bn) for New European Real‑Estate Fund
Private‑equity manager EQT AB closed its fifth logistics‑focused real‑estate fund at €3.1 billion ($3.6 billion), beating a €2.5 billion target. The fund, EQT Real Estate Europe Logistics Value Fund V, is 40% larger than its 2021 predecessor, highlighting robust appetite for European property...
Omnicom Posts $5.6B Core Ops Revenue, CFO Angelastro Highlights AI‑Driven Growth
Omnicom Group posted $5.6 bn in core operations revenue for Q1 2026, up $345 m (6.7% total, 3.9% organic). CFO Philip Angelastro said the AI‑powered Omni platform and aggressive divestitures are key to margin expansion and cost‑synergy targets.
PROCEPT BioRobotics Reports First Quarter 2026 Financial Results
PROCEPT BioRobotics reported first‑quarter 2026 revenue of $83.1 million, a 20% year‑over‑year increase driven by stronger U.S. system sales and higher pricing. The company performed about 12,200 Aquablation procedures in the U.S., a 30% rise, and grew its Hydros install base...
FormFactor, Inc. Reports 2026 First Quarter Results
FormFactor, Inc. posted a record Q1 fiscal 2026 revenue of $226.1 million, up 5.1% sequentially and 32% year‑over‑year. Non‑GAAP gross margin jumped to 49.0%, 510 basis points above the prior quarter and 250 bps above the top of its outlook range, while...
Aware Reports First Quarter Financial Results
Aware Inc. posted first‑quarter 2026 results showing revenue of $3.4 million, a 6% dip from the same period last year, while operating expenses jumped to $7.0 million, driven by $0.7 million in one‑time severance and higher compensation. The company recorded a net loss...