Today's Finance Pulse
Autodesk to acquire MaintainX for $3.6B, expanding into operations software
Autodesk announced a $3.6 billion purchase of MaintainX, a leader in operational‑phase software for the built environment. The deal extends Autodesk’s portfolio from design and manufacturing into ongoing building operation, creating an end‑to‑end data loop. CEO Andrew Anagnost said the acquisition unlocks a $40 billion total addressable market.
Also developing:
By the numbers: Pemberton Asset Management closes $3.7B fourth vintage fund
FinSights Showcase at Google Cloud Next 2026
FinSights, an AI‑driven financial analysis platform built on Google Cloud, was showcased at Google Cloud Next 2026 by Enterprise Architect Abhilash Thumma and AI Services head Ashwin Mishra. The demo highlighted how AI agents can perform multi‑step financial analysis using highly accurate, proprietary data that generates market‑beating alpha. New Constructs supplied the data and analytics that powered the solution, emphasizing the importance of trustworthy data for reliable AI insights. Attendees were invited to explore the technology further through a dedicated landing page and community forum.
Zephyr's Adjusted for Risk: Mike Khouw on Options for Income and Risk Management
In a Zephyr Adjusted for Risk podcast recorded from Lake Tahoe, market strategist Ryan Nauman interviews YieldMax ETFs strategist and CNBC contributor Mike Khouw about the surge in options‑based exchange‑traded funds. Khouw outlines YieldMax’s single‑stock call‑write approach, which aims to generate...
Lilly Adds Gene Delivery Technology to CAR T in up to $7B Kelonia Deal
Eli Lilly announced an up‑to $7 billion acquisition of Kelonia Therapeutics, securing its Phase 1 lentiviral in‑vivo CAR‑T candidate KLN‑1010 and the iGPS gene‑delivery platform. iGPS uses lentiviral particles to program a patient’s own T‑cells, potentially eliminating ex‑vivo manufacturing and pre‑treatment chemotherapy. The deal...
Asset Pricing and Risk-Sharing Implications of Alternative Pension Plan Systems
The Journal of Finance paper by Coimbra, Gomes, Michaelides, and Shen demonstrates that defined‑benefit (DB) pension funds are a powerful force in asset pricing, lowering risk‑free rates and boosting equity premia through their demand for safe assets. Their institutional constraints...
How the Visa-Mastercard Card Fee Case May End
A proposed settlement to end the long‑running Visa‑Mastercard interchange‑fee litigation would cut rates by ten basis points for five years and set a 1.25% fee for standard consumer cards for eight years, while giving merchants the right to decline certain...
Illicit Activity and Software Solutions: Identifying Illegal Activity with Software Solutions
Software solutions are increasingly able to spot illicit activity in cryptocurrency by leveraging the inherent transparency of public blockchains. The process begins with massive data collection from ledger records, followed by processing that attributes wallet addresses to real‑world identities and...
Buy $350K Business, Earn $158K Cash Flow
The U.S. small business market did $7.95 billion in transactions last year. Median sale price: $350,000 Median cash flow: $158,950 Median revenue: $703,000 Buy a business doing $158K in cash flow for $350K is what the numbers say. With 10% down and SBA financing, that's...
How India Became the World's Most Prolific IPO Market
India dominated the global IPO scene in 2025, delivering 367 new listings that represented 28.4% of worldwide deal count, outpacing the US, China and Hong Kong. Decades of reforms beginning in 1991 transformed the market, first by attracting foreign institutional...
Four Major Deals Showcase Hefty Premiums Across Sectors
Today's M&A notes $BLD to be acquired by $QXO for $227.25 cash per share + 11.11x shares, 23.1% premium, $17.0 billion $SILA to be acquired by $OWL for $30.38 cash per share, 19.0% premium, $2.4 billion $RUP.to to be acquired by $AEM for...
Bank Keeps AI Lending Tight, Exposure Under 1%
One bank’s approach to lending in the tech space. From Fifth Third Bank conference call Friday: “On software and data center lending, we have maintained that same disciplined posture. We believe in the long demand for AI infrastructure, but we have...
Adams Street Calls for Greater Transparency From BDCs and Interval Funds
Adams Street Capital Management is urging business development companies (BDCs) and interval funds to adopt a new transparency framework. The firm outlined six concrete metrics—covering liquidity, portfolio concentration, leverage, valuation methods, cash flow, and redemption policies—to replace vague reassurances. By...
Beware: Recruitment Agencies Targeted by Bill‑of‑Exchange Tax Scam
Just heard about an insane "tax avoidance" scheme being pitched to recruitment agencies, involving paying HMRC with a "bill of exchange". I'd think it was a joke if it hadn't come from an unimpeachable source. If you come across this, do get...
Warsh Hearing Could Shift USTs Amid Iran War
Iran war continues to dominate price action in USTs but Warsh's confirmation hearing tomorrow will likely interrupt the current narrative for a spell especially if he sticks to his recent rate dovishness and balance sheet hawkishness.
JPMorgan Maintains Overweight Rating on StoneCo (STNE)
JPMorgan analyst Guilherme Grespan lowered StoneCo's price target to $20 from $21 while maintaining an Overweight rating. The Brazilian fintech announced an extraordinary dividend of $2.53 per share payable on May 4, 2026. In Q4, StoneCo posted adjusted EPS of $0.51,...
Goldman Warns Rally Tailwinds Largely Exhausted After Perfect Storm
JUST IN: Goldman's Delta-One Desk-Head warns that after the perfect storm rally, sentiment and positioning tailwinds are largely exhausted.
Ignoring Private Credit Risks Led to Costly Failure
In Lux's Q1 2023 letter (3 years ago) on the theme of FAILURE comes from a FAILURE to imagine FAILURE we warned of the asset class du jour of "private credit" and the explosion in inflows that would not end...
BLOK: Still Diversified, But Bitcoin Now Matters - And That's A Risk
Amplify Blockchain Technology ETF (BLOK) has been downgraded to Hold as its bitcoin exposure climbed to roughly 40%, up from about 30% a year ago. The higher crypto weighting makes the fund more sensitive to Bitcoin’s price swings, eroding the...
Inside Tax Firms' Review Process: Horror Stories Wanted
What's the review process like for firms that prepare a lot of tax returns? I'd love to hear some horror stories.
RBI Draft for Upper Layer Non-Banks Affects CICs Disproportionately, Raises Compliances Costs
The Reserve Bank of India issued a draft rule that classifies any finance entity with assets‑under‑management (AUM) exceeding Rs 1 lakh crore (≈$12 billion) as an upper‑layer NBFC (NBFC‑UL). The provision applies on a consolidated basis, pulling large core investment companies (CICs) such as...
Gymnastics: Only College Sport Paying Women More Than Men
Gymnastics is the rare college sport where programs are spending substantially more money on the women's programs than the men's. In today's (free) Extra Points, we broke down all the budgets in both sports:
ASML Raises AI Demand Outlook, Stock Swings Amid Valuation Debate
ASML lifted its full‑year AI‑related revenue guidance, projecting €36‑40 billion for 2026, but its shares slipped after a 36% year‑to‑date rally. Traders are weighing the upside of soaring EUV demand against a near‑40‑times forward P/E.
Private‑Equity Bid Worth $3.9 B Targets San Diego Padres, Raising CBA Stakes
Private‑equity investors Jose E. Feliciano and Kwanza Jones are poised to acquire the San Diego Padres for $3.9 billion. The bid arrives amid a succession dispute and just before MLB’s new TV contracts and collective bargaining agreement are finalized, prompting concerns...
Elser Financial Planning Takes $1.1 Billion Stake in Merchants Bancorp
Elser Financial Planning filed an SEC 13F on April 15, 2026 showing it bought 26,983,101 Merchants Bancorp shares worth about $1.1 billion, a new position that now represents 57.2% of its reportable assets. The move underscores strong confidence in the regional lender...
OpenAI Acquires Hiro and TBPN as It Battles Anthropic for Enterprise AI Lead
OpenAI announced the acquisition of personal‑finance startup Hiro and media platform TBPN, moves analysts say are aimed at strengthening its enterprise AI push against rivals like Anthropic. The deals, described as acqui‑hires, signal a focus on talent and brand rather...
Honeywell to Sell Productivity Solutions and Services Business to Brady Corporation
Honeywell announced it will sell its Productivity Solutions and Services (PSS) business to Brady Corporation for $1.4 billion in cash. The PSS unit, which generated about $1.1 billion in 2025 revenue, provides mobile computers, barcode scanners and printing solutions for warehouse and...
Sideline Group Sees ‘Offline Economy’ Opportunity, Beats Target with $155m Debut Fund
Sideline Group announced the final close of its debut investment fund at $155 million, substantially topping its original target. The fund, aimed at the “offline economy” – businesses that operate primarily in physical locations – will be complemented by co‑investment and...
Soltech Names Pontus Andersson Interim CFO Amid Leadership Transition
Soltech announced the appointment of Pontus Andersson as interim chief financial officer. The move provides immediate financial leadership while the board searches for a permanent CFO, underscoring a short‑term strategic pivot for the Stockholm‑listed solar technology company.
Yen Slides as BoJ Rate‑hike Hopes Fade, USD/JPY Tests 159.86
MUFG analyst Teppei Ino reported that the Japanese yen fell sharply as market expectations for additional Bank of Japan rate hikes evaporated, sending the USD/JPY pair to a brief high of 159.86. The move underscores a broader shift in risk...
Latin America’s Oil Boom Fuels Record Production and Massive Investment Plans
Brazil’s state oil firm Petrobras posted a 16.4% jump to 5.304 million barrels of oil equivalent per day and announced a $109 billion five‑year investment plan, while Argentina’s Vaca Muerta shale field is on track to hit 1 million barrels per day, prompting...
The Private Credit Panic Is Overblown
Private credit markets, valued at roughly $2 trillion, have recently faced heightened scrutiny as non‑traded business development companies—holding about $270 billion in assets—show signs of stress. Despite alarming headlines, data indicate that default rates and liquidity pressures are modest compared with previous...
Ripple Completes $750 Million Share Buyback, Launches $3 Billion Cross‑border Expansion
Ripple announced the completion of a $750 million share buyback, lifting its market value to $50 billion. The company also disclosed a $3 billion deployment plan for cross‑border payments, backed by recent acquisitions and new central‑bank partnerships.
Questions About the Classification of Joint Ventures for Accounting Purposes
FASB’s ASU 2023‑05, effective Jan 1 2025, mandates fair‑value measurement of assets and liabilities contributed to new joint ventures, ending the prior option to use carrying values. The update aims to standardize JV accounting but leaves classification ambiguous, requiring entities to navigate...
How Dope CFO Is Evolving as Cannabis Finance Matures
The Dope CFO program, founded in 2017, has grown from a niche training platform into a franchise network that places fractional CFOs with cannabis operators. As the U.S. cannabis market matures, companies face tighter capital discipline, GAAP‑level reporting demands, and the...
The CFO Playbook for Cannabis in 2026
The CFO playbook for cannabis in 2026 outlines how finance leaders are adapting to a sector still hampered by federal prohibition and the tax constraints of Section 280E. It highlights a New York dispensary that imposed strict cash discipline to grow despite...
New York Dispensary Brand Execs on the Nuances of Cannabis Financing
Luxury cannabis retailer The Travel Agency is expanding across Manhattan and Brooklyn, guided by a finance‑led leadership team. CEO Paul Yau, a former CFO, partnered with CFO Roy Cysner, whose background spans Warby Parker and BuzzFeed, to embed rigorous financial...
OCBC Launched Physical Gold Fund Token
OCBC, Lion Global Investors and DigiFT have launched GOLDX, Southeast Asia’s first tokenised physical gold fund on public blockchains. The token is available on both Ethereum and Solana and can be bought with stablecoins or fiat through the DigiFT platform....
New Found Gold Secures $150M for First Phase of Queensway Project
Canadian miner New Found Gold secured C$205 million (approximately $150 million) in financing to advance its Queensway gold project in Newfoundland and Labrador. The package includes a C$100 million equity raise and a C$105 million senior secured credit facility, both led by EdgePoint Investment...
‘Multiple’ Parties Express Interest in Acquiring Wasserman’s The Team Agency
Multiple suitors, including United Talent Agency, private‑equity firm Permira, former Endeavor chairman Patrick Whitesell, and a consortium led by Reddit co‑founder Alexis Ohanian, are circling The Team, the rebranded Wasserman talent agency. Interested parties have until April 20 to submit offers...
Latest Fundraising Data: Volumes Fall but Less Time Is Spent on the Road
The Q1 2026 PERE fundraising report shows a modest decline in total capital commitments, with volumes falling about 8% year‑over‑year. Despite the dip, average deal sizes nudged up roughly 5%, indicating a concentration on larger, core assets. Fundraisers are spending...
Borealis Foods Gets Default Notice From Lender
Borealis Foods, the Canadian ramen‑noodle supplier listed on Nasdaq, received a default notice from its lender Frontwell Capital Partners after missing a March forbearance milestone. The company owes at least $16.1 million in principal, interest, fees and expenses under an amended...
UAE Can Preserve Peg via Swap Line, Not Reserve Cuts
A lot of this seems preemptive, given UAE’s large existing FX reserves. Using a swap line for a bit to help maintain the currency peg would be seen as less disruptive than trimming reserves.
Empery Digital Announces Update on Share Repurchase Program
Empery Digital reported that it has repurchased 26,244,657 shares under its $200 million buy‑back program, averaging $5.71 per share. The repurchases leave 29,813,797 shares outstanding after accounting for 2,146,395 pre‑funded warrants. In the week to April 17, 2026 the company sold 20 BTC...
Bulley & Andrews Acquires Interiors Contractor ICG
Bulley & Andrews, a 135‑year‑old Chicago contractor, announced the acquisition of Interior Construction Group (ICG). Financial terms were not disclosed, and ICG will operate as Bulley & Andrews Interior Construction Group with no layoffs. The deal expands B&A’s interior‑fitout capabilities...
Polymarket Seeks $15B Valuation as It Raises Capital Ahead of U.S. Regulatory Outcome
Polymarket is in talks to raise an additional $400 million, expanding its current round to $1 billion and valuing the platform at roughly $15 billion. The funding follows a $600 million investment from Intercontinental Exchange (ICE), which may increase its strategic stake to $2 billion....
Commission Approves €411 Million Croatian Capital Injection Into Development Bank HBOR
The European Commission has cleared a €411 million (approximately $447 million) capital injection into Croatia’s development bank HBOR, financed through the EU Recovery and Resilience Facility. The funding expands HBOR’s mandate to back SMEs, renewable‑energy projects, digital transformation, infrastructure and the defence...
Buying a Canadian Business: Complex, Risky for Americans
Can You Buy a Business in Canada? An American asked me this—and the answer is more complicated (and risky) than you think. Watch the full video here: https://t.co/vLaP5jaaF2 #businessbuying #entrepreneurship #smallbusiness #investing #canada #BDC #SBA #businesstips #acquisitions #finance
FedNow Tries to Take Its Domestic Success Global
The Federal Reserve is proposing a rule change that would let FedNow members use non‑Fed intermediaries to handle the international leg of cross‑border payments, while keeping the domestic settlement instant. FedNow, launched in 2023, now has about 1,700 member banks...
Update: Lilly Makes $7bn Bid for in Vivo CAR-T Firm Kelonia
Eli Lilly has confirmed a $3.25 billion upfront offer for Kelonia Therapeutics, with milestone payments that could lift the total value to $7 billion. Kelonia’s in vivo CAR‑T candidate KLN‑1010 demonstrated MRD‑negative responses in a four‑patient early‑stage study, highlighting the promise of off‑the‑shelf cell...
I Replaced a $31,980 Bloomberg Terminal With a $240 Claude Setup. Here's the Tape
A solo investor replaced a $31,980 annual Bloomberg Terminal with a DIY AI workflow built on Claude Pro, costing only $240 per year. The new setup uses five Claude agents—Analyst, Tracker, Calendar, Curator, and Digger—to automate the six core morning...
VONG: Growth Can Outperform Value For The Fourth Consecutive Year
Vanguard Russell 1000 Growth Index Fund ETF (VONG) has been upgraded to a Buy rating, marking its fourth consecutive year of outperformance versus value‑focused peers. The fund’s roughly 50% exposure to mega‑cap technology and AI‑driven stocks such as Nvidia, Microsoft, Apple...