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
SSAB Boosting Protection Steels with New Quenching Line in Oxelösund
Swedish steelmaker SSAB announced a SEK 3.3 billion ($300 million) investment to build a new quenching‑and‑tempering line at its Oxelösund plant, slated for commissioning in 2030. The line will add roughly 100 000 tonnes of annual capacity, targeting its premium Hardox® 500 Tuf wear steel and Armox protection steel portfolios. The expansion supports SSAB’s strategy to accelerate premium leadership in high‑performance steels for mining, construction and defence markets. Executives cite growing global demand for lightweight, high‑toughness steels that improve equipment uptime and fuel efficiency.
Blackstone and Google Launch $5 B AI Cloud Venture to Deploy Custom TPUs
Blackstone and Google announced a $5 billion joint venture to create a U.S.-based AI cloud company that will offer Google’s custom Tensor Processing Units as a compute‑as‑a‑service. The venture aims to bring 500 MW of data‑center capacity online in 2027, signaling deep...
US Lenders Write Down Up to 85% on Distressed Commercial‑Real‑Estate Loans
Goldman Sachs, Deutsche Bank and other lenders are taking up to 85% write‑downs on troubled commercial‑real‑estate loans, confronting more than $130 billion of distressed debt. The move ends a three‑year “extend‑and‑pretend” era and could reshape financing for office and multifamily assets.
Japan Plans Massive Bond Issue to Fund Gasoline Subsidies, JGB Yields Spike to 2.8%
Prime Minister Sanae Takaichi ordered Finance Minister Satsuki Katayama to draft a supplementary budget that will be financed by a multi‑trillion‑yen sovereign bond issuance for gasoline subsidies. The move sent Japan’s 10‑year government bond yield to 2.8%, its highest level...
Berkshire Hathaway’s Cash Pile Swells to $397 B After Q1, Raising Questions on Large‑Cap Capital Use
Berkshire Hathaway announced a $397.4 billion cash and short‑term Treasury balance at the close of Q1 2026, adding $24 billion from the prior quarter. The surge reflects continued equity sales and a disciplined, counter‑cyclical capital strategy under new CEO Greg Abel, and...
India’s 360 ONE Seeks up to $500 Million for Private Credit Fund
India’s 360 ONE Asset Management is seeking up to $500 million for its sixth private‑credit fund, which could launch as early as June. The fund will target wealthy Indian individuals, family offices and overseas institutions to finance mid‑sized companies, acquisition deals, refinancing...
NextEra Energy to Acquire Dominion in $400B All-Stock Deal, Shares Jump and Slip
NextEra Energy agreed to buy Dominion Energy in an all‑stock transaction valued at roughly $400 billion, creating the largest regulated U.S. utility. Dominion stock surged 14.5% in pre‑market trading while NextEra fell about 4% after the announcement. The deal, which gives...
Bank of America Lifts Dell Target to $280, Marking Second Upgrade in Three Weeks
Bank of America raised its Dell Technologies price target to $280 on May 18, up from $246 and following an April 27 upgrade. The move reflects Dell's surging AI‑server backlog, record revenue growth and strong analyst consensus, even as UBS...
Analysts Question $1.75 T SpaceX IPO as Valuation Expert Says $1.22 T Is More Realistic
New York University finance professor Aswath Damodaran estimates SpaceX’s worth at $1.22 trillion, contrasting sharply with the company’s own $1.75 trillion target for its upcoming IPO. The gap fuels a heated debate among investors about whether the launch‑service and satellite‑internet giant is...
Why AI Still Feels Hard for Finance Teams
In this episode of CFO Weekly, Alex Curran, CEO of Aptitude Software, explains that the biggest barrier to AI adoption in finance is not the AI models themselves but outdated finance architecture built on batch‑processed ERPs that create fragmented, delayed...
Company Nears ₹35,000‑Crore SBI Loan for 4G, 5G Expansion
Fundraising Progress: The company is reportedly in advanced discussions with a State Bank of India (SBI)-led consortium for a massive ₹35,000-crore loan to fund 4G expansion and 5G rollout.
Tortilla Mexican Grill Admits Multi-Million Accounting Blunder
Tortilla Mexican Grill, an AIM‑listed hospitality chain, revealed a £2.5 million (≈$3.2 million) accounting error in its French operations that caused it to overstate 2025 profits and breach debt covenants. The disclosure sent the stock down 12% to 64p in early London...
STG Logistics – Reorg Plan Receives Court Approval, ‘Clearing Path to Emergence’
STG Logistics Inc. received court approval for its Chapter 11 reorganization plan, clearing the way for emergence in the coming weeks. The plan will trim more than $1 billion of funded debt and unlock the final $25 million of a previously pledged $150 million...
The Muni Brief: NYC's Pied-À-Terre Tax>
New York City faces a $12.6 billion two‑year budget gap, with a $2.2 billion shortfall in FY2026 and a $10.4 billion deficit in FY2027. The city’s proposed pied‑à‑terre tax would surcharge properties over $5 million owned by non‑residents, targeting roughly 13,000 homes and generating...
S&P Global Launches $2 Bn Private Senior Notes for Mobility Global Spin‑off
S&P Global announced a $2 bn private offering of senior notes by its newly formed Mobility Global holding company, slated to finance the spin‑off of its mobility data business. The three‑tranche issuance, due 2029, 2031 and 2036, will also support a...
Blue Owl Capital Issues Second $400 Million Investment‑Grade Bond in a Month
Blue Owl Capital’s private‑credit vehicle sold a $400 million, five‑year investment‑grade bond at a 2.3% spread over Treasuries, tightening by 0.3 percentage points from earlier talks. The issuance follows a similar $400 million sale to Pacific Investment Management a month earlier and...
Top CIO Warns AI Stock Valuations Are Unsustainable, Cautions on Growth Expectations
Brad Conger, chief investment officer at Hirtle Callaghan, told Barron’s Streetwise that current AI stock valuations assume 100% annual growth for a decade—an unrealistic scenario. He cautioned CIOs that while AI is a lasting technology, pricing must reflect achievable growth,...
Discovery Bank Deploys AI to Double App Engagement, Cut Latency 60%
Discovery Bank has launched Discovery AI, an always‑on generative‑AI engine built on Azure OpenAI and Databricks, that slashes response latency by more than half and pushes personalized next‑best‑action engagement to 70% of its users. The rollout marks a shift from...
UK Bank, FCA and Treasury Unveil AI Resilience Framework for Financial Firms
The Bank of England, the Financial Conduct Authority and the UK Treasury have published a joint AI resilience framework that obliges banks and other financial institutions to tighten board oversight, cyber‑security investment and third‑party risk management. The guidance warns that...
Mastercard and JD.com Ink Deal to Enhance Global Commerce Ecosystem
Mastercard and JD.com have signed a strategic partnership to build a more connected, secure and intelligent commerce ecosystem. The collaboration will create a global payment infrastructure supporting JD.com’s international expansion and broaden card acceptance for travelers in China. It also...
Expedia to Acquire CarTrawler for $350 Million, Boosting B2B Travel Services
Expedia Group is set to buy Irish B2B ground‑transportation platform CarTrawler for $350 million (€300 million). The deal deepens Expedia’s push into business‑to‑business travel services, following recent acquisitions of Tiqets and other B2B assets. Analysts see the transaction as a bid to...
Neurocrine Biosciences Completes $2.9 Billion Soleno Acquisition
Neurocrine Biosciences has closed a $2.9 billion cash deal to acquire Soleno, bringing the hyperphagia drug VYKAT XR into its portfolio. The transaction was funded with a $53 per‑share tender offer and a new $1 billion revolving credit facility, positioning Neurocrine for growth...
Citi and HPS Launch $16.2 Billion Private Capital Program to Boost Direct Lending in EMEA
Citigroup and HPS Investment Partners, a BlackRock affiliate, unveiled a €15 bn ($16.2 bn) private capital program aimed at financing sub‑investment‑grade debt in the EMEA region over five years. The partnership leverages Citi’s origination network and HPS’s capital to meet rising demand...
Bayer Q1 2026 Earnings Beat EPS, Revenue Miss Triggers Share Surge
Bayer AG released its Q1 2026 earnings slide deck on May 17, showing a non‑GAAP EPS of €2.71 (≈$2.96) that topped analyst expectations, but revenue of $15.74 billion missed the consensus by $180.6 million. The mixed results lifted the stock, reaffirmed the...
NextEra Energy to Acquire Dominion for $67 B, Forming Largest U.S. Utility
NextEra Energy agreed to buy Dominion Energy in a roughly $67 billion transaction, creating a $250 billion utility that will be the largest power company in the United States. The deal gives NextEra control of the nation’s biggest data‑center customer base and...
AI‑Issued Debt Hits 15% of U.S. Corporate Bonds, Raising Concentration Risk
AI‑related corporate debt now accounts for roughly 15% of the U.S. corporate bond universe, overtaking traditional bank issuers. The shift reflects a structural move toward hyperscale tech firms financing AI infrastructure, creating a concentration risk that regulators and investors are...
Shibaura Machine to Acquire Moore Nanotechnology for $150 Million, Expanding Ultra‑Precision Reach
Shibaura Machine Co., Ltd. announced a $150 million acquisition of U.S. ultra‑precision equipment maker Moore Nanotechnology Systems, making the latter an indirect wholly‑owned unit. The deal adds over 1,000 precision machines and a global service network, accelerating Shibaura’s push into North...
Ceragon Networks Ltd (CRNT) Q1 2026 Earnings Call Transcript
Ceragon Networks reported Q4 2025 revenue of $82.3 million, a 23% decline year‑over‑year, and full‑year revenue of $338.7 million, down 14.1% from the prior year. Despite weaker top‑line results, the company improved its net cash position to $19.4 million and...
Eltek Ltd (ELTK) Q1 2026 Earnings Call Transcript
Eltek Ltd reported FY 2025 revenue of $51.8 million, an 11% increase driven by strong product demand and an accelerated investment program. However, gross margin contracted to 15% and net profit fell to $0.8 million as U.S. dollar depreciation and operational inefficiencies...
MakeMyTrip Ltd (MMYT) Q4 2026 Earnings Call Transcript
MakeMyTrip reported Q4 FY2026 adjusted operating profit of $50.7 million, crossing the $50 million threshold for the first time, and adjusted net profit of $51.4 million with EPS up 33% year‑over‑year. Domestic air market share rose to just over 31% while air ticketing...
Eagle Point Credit Company Inc (ECC) Q1 2026 Earnings Call Transcript
Eagle Point Credit Company reported a GAAP return on common equity of negative 14.6% for 2025, marginally outperforming the median CLO loss of -15%. NAV declined to $5.70 per share from $7.00 in September, while recurring cash flow rose to...
Red Robin Gourmet Burgers Inc (RRGB) Q1 2026 Earnings Call Transcript
Red Robin Gourmet Burgers reported Q1 2026 revenue of $378 million, a $14 million decline driven by restaurant closures and a 1.6% traffic drop. Despite the sales dip, the chain posted its strongest Q1 restaurant operating margin in five years at 14.8%...
Antalpha Platform Holding Co (ANTA) Q1 2026 Earnings Call Transcript
MediaAlpha reported Q1 2026 revenue of $310 million and adjusted EBITDA of $31.4 million, both topping the high end of guidance thanks to a favorable mix shift toward its higher‑margin open marketplace. The company completed a refinancing that added a $150 million term...
Home Depot Inc (HD) Q1 2027 Earnings Call Transcript
Home Depot reported first‑quarter 2023 sales of $37.3 billion, a 4.2% decline year‑over‑year, driven primarily by a 64% drop in lumber prices and adverse weather in the West. Comparable sales fell 4.5% overall, with both DIY and professional customers posting negative...
Driven Brands Holdings Inc (DRVN) Q4 2025 Earnings Call Transcript
Driven Brands Holdings reported its FY 2025 results and a comprehensive restatement of 2023‑2025 financials, reducing revenue by $21 million and adjusted EBITDA by $77 million across the three years. The company delivered 6.3% revenue growth to $1.9 billion, a 1.3% rise in adjusted...
Carlyle Credit Income Fund (CCIF) Q2 2026 Earnings Call Transcript
Carlyle Secured Lending reported Q2 2026 results showing $217 million of new investments and over $1.2 billion of platform commitments, a 14% year‑over‑year origination increase despite a 25% drop in U.S. private‑equity deal flow. Net investment activity reduced total assets to $2.3 billion, while...
Amer Sports Inc (AS) Q1 2026 Earnings Call Transcript
Amer Sports reported a 27% revenue jump to $6.6 billion in 2025, driven by double‑digit growth across all brands, channels and regions. Arc’teryx and Salomon led the breakout, with Arc’teryx women’s sales up 40% and Salomon surpassing $2 billion in sales. Adjusted...
Sono Group NV (SSM) Q1 2026 Earnings Call Transcript
Sonos reported Q1 2026 revenue of $546 million, a 1% year‑over‑year decline but above the midpoint of its guidance range. GAAP gross profit rose 5% with margins expanding to 46.5% (non‑GAAP 47.5%), while operating expenses fell 21% year over year. Adjusted...
Thermon Group Holdings Inc (THR) Q4 2026 Earnings Call Transcript
Thermon Group Holdings reported record Q3 fiscal 2026 results, with revenue of $147.3 million, a 10% year‑over‑year increase, and adjusted EBITDA of $35.66 million, up 12%. Gross margin improved to 46.6% as the mix shifted toward design‑and‑supply large projects, while orders rose...
Everlane’s Sale to Shein Is Another Nail in the Coffin for Millennial DTC Brands
Everlane’s majority owner L Catterton sold the brand to fast‑fashion giant Shein for $100 million, a deal that clears roughly $90 million of debt. The transaction underscores the collapse of the millennial‑focused direct‑to‑consumer (DTC) wave that once dominated online apparel. Similar exits, such...
Power Giants NextEra Energy and Dominion Energy Eye $67B Link
NextEra Energy announced a stock‑heavy acquisition of Dominion Energy valued at roughly $67 billion, forming the largest U.S. electricity producer. The combined company will serve about 10 million customers and own a portfolio of megaprojects across the East Coast. Post‑deal market capitalization...
Rio Tinto Brings Automation, Copilot to Its Finance Function
Rio Tinto has deployed Microsoft Power Platform to automate its month‑end close, replacing hundreds of spreadsheets with integrated Power BI, Power Automate and Copilot Studio workflows. The new solution pulls data from SAP, calculates journals in Power BI, and feeds results back to...
RideNow Group Expands Floorplan Financing Ahead of Key Powersports Season
RideNow Group announced a $35 million expansion of its floorplan financing, raising its total credit capacity to roughly $400 million. The new facility, provided by Wells Fargo, lifts RideNow’s floorplan limit from $100 million to $135 million, allocating $115 million for new‑vehicle inventory and $20 million for...
Pakistan Raises $255 Million with First Panda Bond, Expanding RMB Funding Options
Pakistan issued a three‑year, RMB‑denominated panda bond worth Rmb1.75 billion ($255 million) at a 2.5% coupon, the lowest rate it has secured on a sovereign issue. The deal, over‑subscribed five‑fold, adds a cheaper financing channel and marks a test for the renminbi’s...
Analysts Weigh Rocket Lab vs SpaceX as Space IPO Looms, Stocks Diverge
Rocket Lab posted a 63.5% year‑over‑year revenue jump to $200.3 million in Q1, while SpaceX accelerated its IPO timeline to raise up to $75 billion. Analysts are parsing the two companies’ financial trajectories as investors decide where to place capital in the...
Why Ryanair CFO Warns of Post-Summer ‘Armageddon’ for Weak Airlines—But Says It’ll Keep Fares Flat
Ryanair’s chief financial officer says the airline has locked in 80% of its summer fuel at $668 per metric ton, insulating it from volatile oil markets. Despite an 11% drop in revenue to $18.1 billion, passenger traffic rose 4% to 208.4 million...
SpaceX’s Mega-IPO Puts a Price on the Fear of Missing Out
Elon Musk’s SpaceX is preparing a high‑profile IPO that aims for a valuation exceeding $2 trillion, a figure driven largely by the so‑called “Musk premium” and the company’s expansive optionalities. Analysts such as NYU professor Aswath Damodaran argue the upside is...
SpaceX Accelerates IPO to June 12, Targets $75B Raise at $1.75T Valuation
Elon Musk’s SpaceX has moved its Nasdaq debut forward to June 12, with underwriters targeting a $75 billion capital raise and a $1.75 trillion valuation. The accelerated timeline, announced on May 16, intensifies debate over the company’s dual‑class share structure and the...
Could New Zim Offer Start Bidding War?
ZIM Integrated Shipping Services shareholders approved a $4.2 billion takeover by Germany’s Hapag‑Lloyd and Israel’s FIMI Opportunity Funds, creating a New Zim entity that keeps 16 Israel‑flagged vessels and a government golden share under national control. A competing all‑cash offer of...
Superior Energy Services Names Josh Shapiro CFO Amid Strategic Growth Push
Superior Energy Services announced the immediate appointment of Josh Shapiro as chief financial officer. The veteran finance executive brings more than 15 years of oilfield services and investment‑banking experience, positioning the company to sharpen cost control and fund its expansion...