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
James Murdoch's Lupa Systems Pays Over $300 M for Half of Vox Media, Including New York Magazine
James Murdoch’s Lupa Systems has agreed to purchase roughly half of Vox Media – New York Magazine, Vox.com and the Vox podcast network – in a deal valued at over $300 million. The transaction, advised by LionTree, signals a major media consolidation and highlights the growing premium on podcast assets.
Nvidia's Big Beat Falls Flat
NVIDIA posted a stellar Q1 earnings beat with revenue forecast at $91 billion, an $80 billion buyback and a dividend hike, yet its stock slipped as the market had already priced in the AI boom. The episode notes that this expected performance...
NextEra Energy to Acquire Dominion Energy in $66.8 B All‑Stock Deal
NextEra Energy announced an all‑stock acquisition of Dominion Energy valued at $66.8 billion, creating the largest regulated electric utility in the United States. The deal, which gives NextEra a 74.5% stake and Dominion shareholders 25.5%, is being hailed as a strategic...
SpaceX Files for Nasdaq IPO, Ticker SPCX, Targeting Public Markets
SpaceX submitted an IPO registration with the SEC on May 20, aiming to list on Nasdaq under the symbol SPCX. The filing disclosed a Q1 operating loss of $1.94 billion, a net loss of $4.276 billion on $4.694 billion revenue, and listed a...
AIM ImmunoTech Secures $2.4 Million via Direct Share Offering and Warrant Placement
AIM ImmunoTech Inc. entered definitive agreements for a registered direct offering of 7.51 million shares at $0.325 per share, targeting roughly $2.4 million in gross proceeds. A concurrent private placement of Series I warrants for up to 15.04 million shares will also raise capital,...
Admiral Markets Announces Buyback Offer for up to 8,476 Tier 2 Bonds
Admiral Markets AS announced a buyback offer for up to 8,476 Tier 2 bonds issued in December 2017, covering a total nominal value of €847,600 (≈ $932,000). The repurchase price is €101.02 per bond (≈ $111), consisting of the €100 face value, a €1...
60% of Institutional Investors Intend to Increase ILS Allocations: Gallagher Securities Survey
A Gallagher Securities survey of more than 60 large institutional investors reveals that 60% plan to increase allocations to insurance‑linked securities (ILS) over the next two years. Catastrophe bonds dominate the interest, with 79% of respondents targeting them, while 53%...
M&A Wave Hits the Mid-Market
Shawbrook’s latest research shows a surge in mergers and acquisitions among mid‑market firms, with 56% either actively negotiating or having recently closed a deal. Growth acceleration, demand management, and market entry each motivate roughly 30% of firms pursuing transactions. However,...
Why Exchanges Matter
A new World Federation of Exchanges (WFE) study reaffirms that exchanges remain the backbone of global financial markets, underpinning price discovery, capital raising, and risk management. By providing rule‑based, all‑to‑all venues, exchanges generate network effects that amplify liquidity and market...
Deconstructing Medtronic's 2026 M&A Playbook
Medtronic has moved from operational stabilization to an aggressive 2026 M&A strategy, spurred by governance reforms and the creation of Growth and Operating Committees. The company raised $784 million from the MiniMed IPO, simplifying its portfolio, and announced three acquisitions—CathWorks, Scientia...
Molins Raises EUR500m Through Inaugural Bond Issue
Molins, the Spanish cement maker, completed its first bond issuance, raising €500 million (approximately $540 million) through senior unsecured notes listed in Luxembourg. The 5.50% fixed‑coupon notes mature in 2033 and are guaranteed by parent Cementos Molins and subsidiaries. Proceeds will support the...
CFOs Have Seen the AI Demo—But Does It Work?
Genpact’s partnership with Google Cloud is moving CFOs from AI pilots to production‑ready, agentic AI solutions. The firm’s AI‑powered AP Suite, featuring 21 domain‑specific agents, transformed a global supplier’s invoice process, boosting touchless processing from 7% to 65% and halving...
BitMine’s $13 Billion Stash: Tom Lee’s Ethereum Treasury Bet Signals a New Era for Institutional Crypto Balance Sheets:
BitMine Immersion Technologies disclosed a $13 billion crypto treasury, including 5.2 million ETH worth roughly $12.3 billion, 201 BTC, and sizable equity stakes. The holdings represent about 4.3% of Ethereum’s total supply, making BitMine the largest public‑market holder of the network’s infrastructure token. Under...
Medtronic to Acquire SPR Therapeutics for $650 Million, Expanding Chronic Pain Portfolio
Medtronic announced an agreement to purchase privately held SPR Therapeutics for roughly $650 million in cash. The deal adds SPR’s 60‑day SPRINT peripheral nerve stimulation (PNS) system to Medtronic’s neuromodulation suite, aiming to broaden early‑stage chronic‑pain treatment options.
Japan to Unleash Green Bonds on EV Batteries, Other New Fields
Japan is set to expand its green‑bond programme to cover electric‑vehicle batteries, hydrogen gas turbines and other emerging clean‑tech sectors. The move comes as higher interest rates have dampened demand for traditional green‑bond financing. By widening eligible projects, Tokyo hopes...
NVIDIA Q1 FY2027 Earnings Beat Forecasts, Shares Climb 1.4% After Hours
NVIDIA reported first‑quarter FY2027 earnings of $1.87 per share on $82 billion of revenue, beating analyst forecasts of $1.77 EPS and $79.19 billion revenue. The results sent the shares up 1.37% in after‑hours trading, reinforcing confidence in the company’s AI‑centric growth strategy.
Commerzbank Targets $378 Million AI‑Driven Cost Cuts by 2030
Commerzbank announced a public commitment to cut costs by up to €350 million ($378 million) through artificial‑intelligence automation by 2030. The savings target is tied to a €600 million ($648 million) AI investment programme and a plan to trim up to 3,000 jobs, a...
Flowers Foods Inc (FLO) Q1 2026 Earnings Call Transcript
Flowers Foods reported FY2025 results at the high end of its guidance, driven by strong branded products and efficiency gains. For 2026, the company projects essentially flat revenue, citing a 4% category decline, an extra fiscal week headwind, and modest...
Gogoro Inc (GGR) Q1 2026 Earnings Call Transcript
Gogoro Inc. posted a record full‑year adjusted EBITDA of $59.5 million and more than tripled operating cash flow to $31.1 million, driven by higher gross and non‑IFRS margins. Battery‑swapping revenue rose 8.1% to $149 million while hardware revenue slipped 23% amid a contracting...
Walmart Inc (WMT) Q1 2027 Earnings Call Transcript
Walmart reported a 4.9% constant‑currency revenue increase in Q1, driven by a 24% surge in global eCommerce. Adjusted operating income rose 10.5%, outpacing sales growth and highlighting the profitability of its advertising and membership businesses. The company emphasized rapid omnichannel...
Tsakos Energy Navigation Ltd (TEN) Q1 2026 Earnings Call Transcript
Tsakos Energy Navigation reported a Q1 2018 net loss of $11.9 million, but highlighted a 97% fleet utilization and over‑100% outperformance versus spot market rates. The company operates 66 vessels, with 80% secured on medium‑to‑long‑term charters, generating $1.3 billion contracted revenue. TEN...
ROIC's Denominator: Net Assets vs Financing Mix
Michael Mauboussin on the 2 ways to calculate ROIC "You can think of invested capital, the denominator of the ROIC calculation, in two ways that are equivalent. The first is the net assets a company needs to generate NOPAT. The second...
SpaceX IPO Targets $28.5 Trillion Total Addressable Market, Mission to ‘Make Life Multiplanetary’ and Understand ‘True Nature of the Universe’
SpaceX filed its S‑1 on June 20, formally launching an IPO under the ticker SPCX on Nasdaq and Nasdaq Texas. The filing reveals $18.7 billion in 2025 revenue, with Starlink contributing $11.4 billion and a $6.6 billion adjusted EBITDA despite a $2.6 billion operating...
SEC Proposes Sweeping Changes to the Registered Offering Framework
The SEC has proposed a comprehensive overhaul of the registered offering framework, expanding Form S‑3 and shelf registration eligibility beyond well‑known seasoned issuers. The amendments would drop the $75 million public‑float threshold and the 12‑month reporting rule, introduce new issuer categories—Eligible Listed...
SpaceX S‑1 Files at 107× Revenue, S&P’s Costliest Stock
SpaceX S-1 has been filed LTM revenue of $18.7 billion with a 33.2% growth rate EBIT loss of -$2.6 billion Net loss of -$5 billion At a $2 trillion valuation, will be trading at a 107x LTM revenue multiple If added to the S&P 500,...
Nvidia Hikes Dividend, Launches $80B Buyback
Nvidia is boosting its quarterly cash dividend from $0.01/share to $0.25/share It is also doing an $80 billion stock buyback https://t.co/hsHTmmhcPC
SEC Semiannual Reporting Option Stirs Friction
The SEC has issued a proposed rule that would let public companies elect to file financial statements semi‑annually instead of quarterly, sparking a heated debate among investors, auditors and regulators. The 60‑day comment period comes as SEC Chair Paul Atkins,...
Caisse De Dépôt Unit to Acquire Digital Services Firm ISC for $1.2 Billion
A subsidiary of Quebec's Caisse de dépôt et placement du Québec has agreed to purchase Information Services Corporation for $1.2 billion. The deal, announced on June 8, 2026, signals a growing appetite among pension funds for large‑scale tech‑services acquisitions.
Värde Partners Closes $1 Billion CRE CLO, Boosting Market Liquidity
Värde Partners completed a $1 billion commercial‑real‑estate collateralized loan obligation (CLO), VMC 2026‑FL6, backed by 19 floating‑rate mortgages on 40 properties across 16 states. The deal, dominated by multifamily and industrial assets, adds a new source of capital to a market hungry...
GameStop Ups Its Stake in eBay After Its Buyout Bid Was Rejected
GameStop raised its eBay ownership to roughly 6.55%, up from about 5% earlier this month. The increase follows a rejected unsolicited $56 billion takeover proposal for the online auction giant. The new stake reflects both common stock and underlying put/call option...
ConsumerDirect Appoints Gary Lu as CFO to Steer Next Growth Phase
ConsumerDirect Inc. announced the appointment of Gary Lu, CPA, as its chief financial officer. Lu brings more than two decades of finance, accounting, and operational experience from public companies, high‑growth fintechs, and Fortune 500 firms. The hire is positioned to support...
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...
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...