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
Hospital Margins Take a Dive
U.S. hospitals entered 2026 with operating margins at a 12‑month low, slipping to –0.6% for health systems and a 3.1‑point decline for individual hospitals. Patient demand and revenue growth slowed, especially in inpatient and emergency settings, while expense growth outpaced revenue. The Midwest experienced the steepest margin erosion, whereas the Northeast and South saw milder declines. Analysts warn that continued pressure could force consolidation.
ACX to Equity Exposes Crypto’s Flawed Tokenomics
Across Protocol is converting ACX to equity. Kain, Luca Netz & Tay discuss: ⚖️ The trade-offs that come with the move 💔 How it highlights crypto's broken tokenomics 💡 What the crypto industry can do to fix it https://lnkd.in/ebpuGyq7
Tonix Pharmaceuticals Reports Fourth Quarter and Full Year 2025 Financial Results and Operational Highlights
Tonix Pharmaceuticals announced FDA approval and U.S. launch of TONMYA, the first new fibromyalgia drug in over 15 years, in August 2025 with commercial availability beginning November 17, 2025. The company reported fourth‑quarter product revenue of $5.4 million and full‑year revenue...
Mink Ventures Engages Independent Trading Group as Market Maker
Mink Ventures Corp announced it has engaged Independent Trading Group to act as a market maker for its common shares on the TSX Venture Exchange, pending regulatory approval. ITG will receive CAD $5,000 per month, with an initial one‑month term...
Imperial Reports 2025 Financial Results
Imperial Metals posted record 2025 revenue of $691.8 million, a 40% increase year‑over‑year, driven by higher copper and gold prices and strong output at Mount Polley and Red Chris. Adjusted EBITDA rose to $381.7 million and net income reached $153.8 million, while cash cost per...
Swiss Water Reports Year End and Fourth Quarter 2025 Results
Swiss Water Decaffeinated Coffee reported a strong top line in 2025, with revenue climbing 49% to C$258.7 million and Q4 revenue up 34% to C$66.0 million. Net income rose 23% year‑over‑year to C$1.6 million, though Q4 profit fell 40% due to lower volumes...
Legacy Housing Corporation Reports Full Year 2025 Financial Results
Legacy Housing Corporation reported a 10.7% drop in 2025 revenue to $164.6 million and a 32.2% decline in net income to $41.8 million. Despite weaker earnings, book value per share rose 8.6% to $22.20, and the company generated $37.2 million of operating cash....
VAALCO Energy, Inc. Announces Fourth Quarter and Full Year 2025 Results
Vaalco Energy reported FY 2025 results with net sales of 6,370 MBOE and a net loss of $41.4 million, while generating $173.4 million of Adjusted EBITDAX and $212.7 million of operating cash. Production averaged 16,556 NRI BOEPD, surpassing guidance, and the company sold 17,452 NRI BOEPD. It secured a...
AMREP Reports Third Quarter Fiscal 2026 Results
AMREP Corporation posted a strong third‑quarter fiscal 2026, reporting $14.6 million in revenue and $3.15 million net income, up from $7.5 million and $0.72 million a year earlier. Earnings per diluted share rose to $0.58 from $0.13, while nine‑month revenue reached $41.8 million and net...
Atlanticus Reports Fourth Quarter 2025 Financial Results
Atlanticus Holdings reported a blockbuster fourth‑quarter 2025, posting $734.4 million in total operating revenue—a 108% year‑over‑year jump—and $7.0 billion in managed receivables, up 155%. Net income rose 24.9% to $32.8 million, delivering $1.75 diluted earnings per share. The results were powered by the...
Artesian Resources Corporation Reports 2025 Year-End Earnings and Fourth Quarter Results
Artesian Resources Corp reported full‑year 2025 results, posting net income of $22.8 million, an 11.9% increase year‑over‑year, and diluted earnings per share of $2.21, up 11.6%. Total revenues rose 4.6% to $112.9 million, driven by modest gains in water sales, wastewater, and...
The Hidden Tax Savings in Your Business
In the Duct Tape Marketing podcast, CPA and former CFO Peter Holtz reveals that most business owners overpay taxes because they rely on compliance‑focused accountants rather than strategic tax planners. Only about 1,100 of the 1.2 million licensed tax preparers are...
Party Like It’s 1999? Not So Fast.
The upcoming webinar hosted by Michael Gayed and Running Oak Capital argues that its Efficient Growth strategy has outperformed the S&P 500 on a cumulative basis since 1989, notably staying flat during the dot‑com bust. Current market data shows forward...
Peloton Names CAO to Interim CFO Seat
Peloton Interactive appointed its chief accounting officer, Saqib Baig, as interim chief financial officer effective March 27, after finance chief Liz Coddington departed for a senior role at Palmetto. Baig, who has overseen Peloton’s commercial finance since August and previously held senior finance...
Banking Regulators Plan to Ease Some Capital Requirements
U.S. regulators will propose easing Basel III endgame capital rules. Fed Vice Chair Michelle Bowman said duplicative capital‑calculation requirements will be removed and adjustments made for trading and mortgage exposures. The changes aim to shrink banks’ reserve buffers, freeing funds for...
Macro Matters: Yield-Curve Scenarios with BNY’s Granet
In this episode, BNY Mellon CIO Jason Granet discusses the current and future shape of the U.S. Treasury yield curve, arguing that recent flattening is a temporary, cyclical retracement and that a steeper curve is likely to resume. He and...
Pottery Firm Denby to Appoint Administrators
British pottery maker Denby, founded in 1809, announced it will file a notice of intention to appoint administrators as a precautionary step after failing to secure a strategic investment partner. The company cited reduced demand, soaring energy costs and escalating...
Austin City Council OKs up to $575 Million of Water System Bonds
The Austin City Council approved up to $575 million in water and wastewater revenue‑refunding and improvement bonds. $450 million will refinance short‑term commercial paper into long‑term debt, while $75 million will refund callable Series 2015 A bonds and $50 million will fund capital projects at the...
Conflict of Interest Concern: Valuation of a Loan by the Borrower
A conflict‑of‑interest issue has emerged around the valuation of loans in Blue Owl’s business development company (BDC) portfolio. The valuations were performed by Kroll, a firm with close ties to Deerfield, one of the borrowers in the portfolio. Critics argue...
S&P Upgrades Vancouver Airport Authority’s Rating to AA
S&P Global Ratings has raised the long‑term issuer credit and senior unsecured debt rating for the Vancouver Airport Authority from AA‑ to AA, with a stable outlook. The upgrade cites Vancouver International Airport’s robust market position, strategic capital‑investment plan, and...
Addressing Planning and Forecasting Challenges in Business Central
A webinar on March 25, 2026 will tackle planning and forecasting hurdles in Microsoft Dynamics 365 Business Central, highlighting the platform’s native demand‑forecasting limits and complex vendor‑driven purchasing workflows. Attendees will see how to interpret supply‑demand data, adjust forecasting parameters, and leverage popular...
Business Leaders Face Major Blindspot on Risks That Could End Their Companies
U.S. executives enter 2026 optimistic, yet a stark gap exists between perceived threats and risks that could shut down their firms, according to Sentry Insurance’s 2026 C‑Suite Stress Index. While 54% expect growth, only 17% rank lawsuits—a danger that 93%...
IDT Q2 FY26 Update: First Pass
IDT Corp reported Q2 FY26 revenue up about 6% year‑over‑year, with its NRS, Fintech and net2phone segments contributing over half of operating income. GAAP EPS came in at $0.84, missing the consensus of $0.90‑$0.91, primarily because SG&A surged, highlighted by...
ULM Properties' Student Housing Bonds Downgraded to B3 by Moody's
Moody's downgraded the University of Louisiana at Monroe student‑housing revenue bonds (Series 2019A) from B2 to B3, citing weak demand and an 85% occupancy rate. The debt‑service coverage ratio slipped to 0.98× as of December 2024, forcing draws on the debt‑service reserve....
Xunlei (XNET) Q4 Earnings: Adjusted EPS Declines YoY to $0.08; Revenue Jupms 70%
Xunlei (NASDAQ:XNET) reported fourth‑quarter adjusted earnings per share of $0.08, unchanged from the prior quarter, while revenue plateaued at $143.3 million. The company posted a steep GAAP loss of $228.9 million, underscoring ongoing profitability challenges. Shares hovered around $5.84 as investors weigh...
With Active Security Selection, Airport Bonds Can Add Ballast as Geopolitics Rattle Markets
The airport municipal bond sector has demonstrated strong credit resilience, weathering crises such as 9/11, COVID‑19, and recent geopolitical turbulence. Federal relief via the CARES Act prevented mass downgrades, and General Aviation Revenue Bonds (GARBs) have maintained stable, investment‑grade ratings...
Private Credit's Low Multiples Raise Concerns for Later Creditors
I've never quite understood this either. Private credit is first in line during liquidations and they often lend 0.5x to 2.0x ARR when the transaction happens. After a few years of growth that's often <1x ARR and probably...
Amadou Sy on Why Africa Is Keeping Its Debt Closer to Home
In this episode, IMF Assistant Director Amadou Sy explains the growing shift in African governments from external, often dollar‑denominated debt to domestic, local‑currency debt. He outlines the benefits of reduced currency risk and greater fiscal flexibility, while noting higher borrowing...
California's Billionaire Tax Would Cost Middle Class $2,500
A new @HooverInstitution study confirms what I’ve been saying for months. The CA Billionaire Tax has a negative NPV of -$24.7B. Meaning if this gets on the ballot and is approved in November, California doesn’t just collect less than promised,...
Saturn Oil & Gas Inc. (SOIL:CA) Q4 2025 Earnings Call Transcript
Saturn Oil & Gas Inc. posted a stronger fourth‑quarter 2025, with revenue climbing 12% year‑over‑year and net loss narrowing to C$8.3 million. The company added 5 million barrels of oil‑equivalent proved reserves, driven by successful drilling in its Western Canada assets. Capital...
OCR Director Defends HIPAA Updates: "The Cost of Doing Nothing Is Very High"
OCR director Paula Stannard told HIMSS attendees that the HHS Office for Civil Rights is still reviewing 4,700 public comments on the Biden‑era HIPAA Security Rule proposal, which would impose stricter controls and longer implementation timelines. She warned that the...
#58532
Third Harmonic Bio, Inc. (THRD) completed its court‑ordered dissolution after shareholders approved the Plan of Dissolution on June 5 2025. The company voluntarily delisted from Nasdaq and filed a Certificate of Dissolution effective July 31 2025. Two cash liquidating distributions have been paid –...
A Technology CFO’s Guide To Storytelling
Technology CFOs are increasingly required to be strategic storytellers, translating complex financial data into compelling narratives for investors, customers, and employees. Lisa Cummins Dulchinos, CFO of semiconductor unicorn Ayar Labs, illustrates this shift by using real‑time scenario planning and disciplined...
Major Firms Curb Withdrawals, Signaling a Liquidity Crisis
Entrepreneurs & Investors: We are in a LIQUIDITY CRISIS 🤯 First BlackRock, now Morgan Stanley limiting withdrawals?? Q2 will be very interesting…Oh, probably nothing 👀
Liquidity for Forced Direct‑Loan Sellers Set to Outperform
Good take below. I agree that a strategy providing liquidity to forced sellers of direct loans, due to elevated outflows, will be one of the best performing investment strategies over the next 3 years.
SEC Issues Guidelines for New Online Lending Platforms
The Philippine SEC released draft guidelines to end the 2021 moratorium on registering new online lending platforms (OLPs). The proposal outlines prudential, disclosure and market‑conduct standards, a single entity‑level certificate of authority, and a graduated asset‑based licensing fee effective 2027....
Merger Arbitrage Yields Still Low, No Arbageddon Yet
While we're seeing panic in certain areas of the market (private credit), it has not translated to merger arbitrage, where the current average yield of 10.8% is far below a March 2020-type environment. Once we see arbitrage yields nearing 20%, then...
MicroStrategy's Bitcoin Bets Are Long‑term; Don't Follow
MicroStrategy bought 17,994 Bitcoin at $70k. But they also bought at $90k and $80k. They're playing a decade long game with a corporate balance sheet. You need to be cautious right now, you are not MicroStrategy.
Bank Regulators Warn of Increased Cyber Risk From Iran War
Regulators in California and New York have issued urgent cyber‑risk bulletins as the Iran‑Israel war heightens threats to the financial sector. The DFPI and NYDFS urge banks to strengthen defenses, review incident‑response plans, and monitor supply‑chain traffic. Major institutions such as...
Rule of 40 Shifts to Rule of 60: Adapt Now
Why The Rule of 40 is Becoming the Rule of 60 -- and What You Can Do About It. https://t.co/PN2EcIhJ8S
Tesla Swaps xAI Investment for SpaceX Stake
Tesla received government clearance to convert its investment in Elon Musk’s xAI into a small stake in SpaceX https://t.co/nd2PrT3EOF
Safe, Efficient Markets for SFTs
Securities financing transactions (SFTs) such as repos, securities lending, and margin lending are essential for daily market liquidity, collateral flow, and the transmission of monetary policy, underpinning benchmarks like SOFR. Historical stress events—from the 1998 LTCM collapse to the 2022...
CFTC to Impose Strict Rules on Manipulable Prediction Markets
CFTC to set ‘rules of the road’ for prediction markets, Chair Selig says The guidance warns exchanges to avoid listing contracts that could be easily manipulated, citing examples such as bets tied to injuries or other narrowly defined sports outcomes. https://t.co/Dr13o6VPmA
Iran War Inflation Drives Terminal Rate to 3.37%
Iran war inflation continues to push up the terminal rate, now 3.37. This had been trading around 3% a month ago. No surprise UST front end getting shellacked with 2s 3.74 and 5s 3.86 https://t.co/8FiC830XW4
IRS Updates Withholding Tax Calculator for New Tax Breaks
The IRS has refreshed its Tax Withholding Estimator to incorporate the new credits and deductions introduced by the One Big Beautiful Bill Act (OBBBA). The updates cover tax breaks for tips, overtime, senior citizens, car‑loan interest, family‑related credits, homeownership and...
Spotting Private Credit Risks, Bubble Types, AI Content Farms
🆓 Thursday links: private credit exposure, good vs. bad bubbles, and detecting AI content farms. https://t.co/xz88DTLRXp chart: https://t.co/LjVlif34WF https://t.co/HdHakdmYPW
IPO Market Collapses as Pricing Plummets Across Sectors
IPO market in the toilet. First was MiniMed pricing low. Then PayPay. Now MDA Space, which goes well below its as-converted price in Toronto.
Saga Communications Reports 9.3% Decline in 2025 Q4 Revenue
Saga Communications reported fourth‑quarter 2025 net revenue of $26.5 million, a 9.3% decline from the same period a year earlier. Digital revenue, however, surged 25.8% to $4.3 million, indicating a shift toward online platforms. For the full year, the company posted a...
Accelerated Buyback Could Boost $RELY Long-Term Price
Since you have a lot of free time on your hands now @matt_oppy, I would suggest running some quick numbers (can even have Claude do it for you) on what an accelerated buyback program could mean for the long-term share...
Fees Persist on Unredeemed Private Credit Even After Gates Lift
Reminder that investors who requested redemptions from semi-liquid private-credit funds -- but couldn't get all of it back due to caps -- still pay fees on the unfulfilled portion. The fees don't stop just because the gates go up.