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
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 a 5.6× rise in the non‑KSA segment and offsetting a 12% decline in its core Saudi market. Despite the strategic move, Jahez’s market value has fallen more than 55% to $682 million as rival Keeta’s aggressive pricing pressures domestic growth. The acquisition thus provides both regional growth and a buffer against intensifying competition at home.
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...
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...
Full-Life Technologies Secures $150 Million Series D to Scale Radiotherapeutics Platform
Full-Life Technologies closed a $150 million financing package—$110 million in Series D equity and $40 million in debt—led by Vivo Capital and a slate of strategic investors. The capital will accelerate its alpha‑emitting radiotherapeutics pipeline and bring a GMP‑grade manufacturing site in Belgium online,...
Qualtrics Closes $6.75 B Deal for Press Ganey Forsta, Expands Into Healthcare
Qualtrics completed a $6.75 billion acquisition of Press Ganey Forsta, giving it access to more than 41,000 U.S. hospitals and the largest AI‑powered healthcare experience dataset. The deal closed despite a turbulent financing environment that saw a $5.3 billion debt package lose...
Intel Closes to Oracle with $8 B Market‑cap Gap, Reshaping Enterprise Hardware Hierarchy
Intel's market value rose to $546.7 billion, leaving a $8.3 billion gap with Oracle's $554.9 billion valuation. The chipmaker's AI‑related revenue jump and a strong Q1 earnings beat have accelerated the catch‑up, while Oracle leans on cloud contracts worth $553 billion.
Standard Chartered to Trim Over 15% of Corporate Jobs by 2030
Standard Chartered Plc said it will eliminate over 15% of corporate‑functions positions by 2030 as it rolls out a sustainable medium‑term profitability plan. The move follows the bank’s early achievement of its 2026 financial targets and aims to boost productivity...
Beam Global Posts $6.9 M Q1 Loss as Revenue Plunges 51% but Backlog Jumps 50%
Beam Global (BEEM) posted a $6.9 million net loss for the first quarter of 2026, with revenue slashing 51% to $3.1 million. The company said a 50% surge in backlog to $9 million and a stronger Q2 pipeline could stabilize the business, but...
Astron Secures $73.5 Million Series A to Build China’s First Reusable Rocket
Beijing‑based Astron announced a 500 million‑yuan ($73.5 million) Series A round, bringing total funding to 1 billion yuan ($147 million). The cash will fund development of its AS‑1 reusable carrier rocket, with a maiden flight targeted for early 2027.
Chime CEO: Pursuing Bank Charter Is ‘a when, Not If’
Chime’s CEO Chris Britt told investors that obtaining a U.S. bank charter is a matter of "when," not "if," as the fintech re‑evaluates timing amid a regulator‑friendly climate. The company currently serves about 10.2 million monthly active members and partners with...
SEC Proposes Transformative Reforms to Help Public Companies Conduct Registered Offerings and Simplify Reporting Requirements
The SEC announced sweeping rule proposals aimed at modernizing registered offerings and simplifying public‑company reporting. The reforms would let more issuers use shelf offerings, preempt state securities registration, and expand broker‑dealer research coverage. They also raise the large‑accelerated filer threshold...
GSE Loans Shift to Private Label for Better Returns
Mortgage‑backed securities professionals are moving government‑sponsored entity (GSE) loans into private‑label securities to capture better economics, according to remarks at the MBA Secondary and Capital Markets Conference. JPMorgan’s John Sim highlighted that higher loan‑to‑value (LTV) ratios and non‑qualified mortgage products,...
Danone Exits Stake in Lifeway Foods
Danone announced it will divest its 22.7% stake in Lifeway Foods, selling the shares for $19.50 each. The price is markedly lower than the $27 per share Danone offered in a 2024 acquisition bid. Lifeway recently reported record quarterly sales...
What I Wish Someone Had Told Me Before I Started Scaling My Business
Entrepreneurs who rush to scale often ignore basic financial discipline, leading to cash‑flow crises. The article stresses three non‑negotiable habits: separating personal and business accounts from day one, tracking every expense to calculate true profit margins, and holding a monthly...
Value Creation and Post-Deal Due Diligence More Important with Longer Hold Periods; Blackstone Injects $5 Billion Into JV with Google
Private‑equity firms are extending investment horizons, prompting advisers to stress value‑creation initiatives and rigorous post‑deal due diligence. Longer hold periods mean portfolio companies must generate sustainable growth beyond the typical three‑to‑five‑year window. Blackstone announced a $5 billion investment in a joint...
SERB Pays €115 Million for Hansa Biopharma’s Idefirix Rights in Europe and MENA
SERB Pharmaceuticals agreed to buy exclusive rights to Hansa Biopharma's kidney‑transplant drug Idefirix across Europe and the MENA region for €115 million ($124 million). The deal includes an upfront €110 million payment and a €5 million contingent payment tied to EMA approval, positioning SERB...
Doosan Group Nears $3.3 B Deal to Acquire 70% of SK Siltron, Expanding Into Wafer Production
Doosan Group is poised to sign a stock purchase agreement for a 70.6% stake in SK Siltron, valued at roughly $3.3 billion. The move adds front‑end wafer production to Doosan’s existing testing, packaging and materials businesses, positioning the conglomerate for the...
Thales Appoints Former Nissan CFO Jérémie Papin as Senior Finance and IT Chief
Thales announced that Jérémie Papin will take over as Senior Executive Vice-President, Finance and Information Systems on July 1, 2026, succeeding retiring CFO Pascal Bouchiat. Papin arrives from Nissan, where he oversaw finance, M&A and information systems, and will sit on Thales’...
UBS Raises Broadcom Target to $490 After Slashing Anthropic Revenue Forecast
UBS lifted its Broadcom (AVGO) price target to $490 from $475 while trimming its Anthropic-related revenue outlook. The Swiss bank says the deal’s new ASIC structure boosts margins, keeping its bullish case alive despite lower top‑line forecasts.
Analog Devices Eyes $1.5 Bn Cash Acquisition of AI Chipmaker Empower Semiconductor
Analog Devices, Inc. is in advanced negotiations to purchase AI‑chip specialist Empower Semiconductor for roughly $1.5 bn in cash. The deal would add Empower’s FinFast power‑management technology to ADI’s portfolio as data‑center AI spending accelerates.
EXEC: West Marine Files for Bankruptcy, Store Closures Expected
West Marine, the nation’s largest boating and fishing retailer, filed Chapter 11 bankruptcy in Delaware, listing assets and liabilities each between $500 million and $1 billion. The filing cites $166.7 million in future lease obligations and $119.9 million in unpaid trade liabilities as primary drivers...
Anglo Exits Australian Steelmaking Coal for up to $3.9B
Anglo American has agreed to sell its entire Australian steelmaking coal portfolio to UK‑based Dhilmar Limited for up to $3.875 billion. The transaction values the assets at a price‑to‑last‑value breakeven of $295 per tonne, roughly 25% above current market levels. The...