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
Uber’s Latest Effort to Become a Super App Is All About Parking
Uber announced it will acquire parking‑reservation platform SpotHero, integrating spot‑booking directly into the Uber app. The transaction, expected to close in the first half of 2026, does not disclose financial terms. SpotHero operates in over 400 U.S. and Canadian cities, focusing on commuters, event venues, and airports, and will extend exclusive parking benefits to Uber One members. The move is part of Uber’s broader push to become a super‑app, diversifying services as autonomous vehicle technology reshapes mobility.
Make Private Lenders Passive, Not Pursuing, for Funding
Raising private capital for your next deal is about keeping the partnership passive. If a private money lender has to chase you down for details, your chances of getting their money is slim to none.
AMC's $10K Debt Revives Bankruptcy Risk
$AMC 10K firmly puts bankruptcy back on the table. To quote: In order to achieve net positive cash flows from operating activities, revenues will need to increase from current levels to levels at least in line with pre-COVID-19 revenues. However, there...
The True Global Market-Cap Weighted Portfolio: Gold as 3rd Largest Asset Class?
A WisdomTree chart shows a truly global market‑cap weighted portfolio composed of roughly 50% equities, 30% fixed income, and a surprisingly high 12.7% gold, making gold the third‑largest asset class. The analysis estimates the total market value of gold at...
Leverage Boosts Stock Volatility, Not Business Quality
"Financial leverage increases equity volatility, not business quality." Leverage doesn’t make a business better — it just makes the stock wilder. ⚠️📈 Financial leverage amplifies equity volatility. When debt is added to the capital structure, small changes in operating performance translate into...
Following Earlier Actions to Remove Reputation Risk From Its Supervision of Banks, Federal Reserve Board Requests Comment on Proposal to...
The Federal Reserve has issued a request for public comment on a proposal to codify its June decision that removes reputation risk from bank supervision. The move aims to prevent supervisors from pressuring banks to “debank” lawful customers based on...
State Bill Could End Tax Break for Large Digital Lenders
Washington State’s House Bill 2089 seeks to restore dwindling wildfire‑prevention funding by revoking a tax deduction that currently benefits large digital mortgage lenders. The deduction, originally crafted for community banks, generated $91.6 million in savings in 2024, with 65 % captured by...
Ryman Hospitality Properties, Inc. Reports Fourth Quarter and Full Year 2025 Results
Ryman Hospitality Properties reported record Q4 and full‑year 2025 results, posting $737.8 million in quarterly revenue and $2.6 billion for the year. Adjusted EBITDAre rose 18.9% YoY to $224.3 million in Q4 and $794.7 million annually, while net income reached $74.5 million and $247.3 million respectively....
Annual Returns Converge Across Correlations, Volatility Varies
I vibe coded a widget to show the idea of the blog post below. It simulates yield curve evolutions and equity market returns. Then it plots the distribution of annualized returns and volatilities over a given horizon using...
Court Filings Reveal Sheertex Maker’s Steep Losses Ahead of Insolvency
Montréal‑based Sheertex maker SRTX filed for insolvency and agreed to sell key assets to fellow Québec hosiery firm AYK International. Court filings reveal revenue peaked at $45.5 million in 2023, dropped to $27.9 million in 2024 and generated only $7.6 million in the...
Servicers Offer Support as Nonagency Gets More Competitive
Traditional lenders are eyeing the expanding non‑agency mortgage market as originations have roughly tripled in recent years, driven by growing appetite for non‑owner‑occupied and non‑QM loans. Securitization activity surged 78% in 2025, while delinquencies on non‑QM assets have risen above...
How GPs and LPs View AI Disruption: Thoma Bravo’s Holden Spaht and New York’s Anastasia Titarchuk
At the PEI Group’s NEXUS 2026 summit, Thoma Bravo partner Holden Spaht and New York‑based LP specialist Anastasia Titarchuk discussed how artificial‑intelligence disruption is reshaping private‑equity dynamics. Both highlighted accelerating deal flow in AI‑enabled software and the need for deeper technical diligence....
Poor Judgment or a Principled Stand? Susan Rice's Spat with Trump Dissected
Former U.S. national security adviser Susan Rice, a Netflix board member, publicly criticized President Donald Trump on a podcast, prompting the president to demand her removal from the board. The outburst coincides with Netflix’s $82.7 billion bid to acquire Warner Bros....
Anticipated Applicability Date for Future Final RMD Regs. Announced
The IRS announced in Announcement 2026‑7 that final regulations amending RMD rules will not take effect until at least the 2026 calendar year, roughly six months after their Federal Register publication. The interim guidance requires taxpayers to rely on a good‑faith...
Hims Beats EPS, Guides Revenue Above Estimates
HIMS Q4 2025 earnings: • Revenue $618M vs $617M Est. • EPS $0.08 vs $0.05 Est. • Gross Margin: 72% vs 74% Est. • Subscribers: 2.5M (+13% Y/Y) FY26 Guidance • Revenue $2.8B vs $2.7B Est.
Other News in Brief
Bank holdings of residential mortgage‑backed securities dropped in Q4, while investor appetite for GSE‑eligible non‑agency loans surged. The CFPB reported a lower share of complaints receiving relief, and fintech Better turned to stablecoins for warehouse funding. M&A activity is reshaping...
26North Founder Josh Harris Sees Mid-Market as Private Credit Sweet Spot
Josh Harris, founder of 26North, told PEI Group’s NEXUS conference that the firm is targeting the mid‑market segment as the sweet spot for private credit. He noted that even though the credit cycle is in its later stages, a pronounced...
Report Shows Finance AI Automation Gap as 76% Plan Investment, Only 6% Deliver Advanced Implementation
Savant Labs' 2026 Trends Report reveals finance, tax and accounting leaders plan heavy AI investment. Seventy‑six percent intend to fund strategic agentic automation in 2026, yet only six percent have advanced, broad‑scale deployments. Governance, auditability and ERP integration emerge as...
Government Equity Investments Open a New Frontier for Industry
Since the start of President Trump’s second term, the administration has completed ten direct equity investments in private firms, highlighted by a $1 billion stake in L3Harris Technologies' rocket‑motor unit and minority positions in Intel and critical‑mineral suppliers. The moves target...
BEWI Invest - Results for the Fourth Quarter and Full Year 2025
BEWI Invest has published its fourth‑quarter and full‑year 2025 financial results, delivering a consolidated view of the company’s performance for the period. The filing, filed on the Oslo Børs and Euronext Oslo platforms, includes detailed income statements, balance sheet data,...
The Future Is Fractional: How a Growing Model Is Reshaping the Accounting Profession
The accounting profession is witnessing a shift toward fractional financial leadership, where seasoned accountants provide part‑time, embedded CFO or controller services to multiple clients. Small‑ and mid‑size businesses, facing complex strategic decisions, can now access senior expertise for 5‑15 hours...
World Bank Plans to Pump $10bn Into Mozambique
The World Bank announced a $10 bn financing package for Mozambique, including $6 bn of mostly concessional public‑investment funding and an additional $4 bn earmarked for private‑sector projects. A $921 m grant from the International Development Association’s 21st replenishment is also part of the...
26North’s Josh Harris: Retail Capital Presents ‘Recipe for Problems’
Josh Harris of 26North warned that blending unaccredited investor capital with wealth‑managed funds in mixed‑regulation vehicles creates systemic risk. At PEI Group's NEXUS 2026 conference, he argued that such structures could trigger regulatory backlash and erode confidence in private markets....
RLI Now Has ‘A++’ Rating From AM Best
AM Best upgraded RLI Group’s financial strength ratings to A++ and its long‑term issuer credit ratings to aa+, reflecting superior balance‑sheet fundamentals and capital management. The insurer reported $1.9 billion policyholder surplus and $264.2 million underwriting income for 2025, marking the 30th consecutive...
Securities and Exchange Commission Schedules Roundtable to Discuss “Retailization” Of Private Securities
The SEC will host a Private Markets Roundtable on March 4, 2026 to discuss the retailization of private securities. Currently, non‑accredited investors are limited to Reg A and Reg CF, while most private offerings remain inaccessible. Pending legislation could relax accredited‑investor thresholds, adding a...
Connecting Revenue and Profitability: Flow Through and Flex Explained
The article introduces Flow Through and Flex as complementary metrics that translate hotel revenue changes into profitability outcomes. Flow Through measures the percentage of incremental revenue that becomes gross operating profit, while Flex gauges how well a property shields profit...
Evercore Sees Microsoft Growing FCF 5% as Hyperscaler Capex Jumps 58%
Evercore ISI projects Microsoft’s free cash flow to grow 5% in 2026 while hyperscaler capital spending jumps 58% to over $700 billion. In contrast, Amazon, Google, Meta and Oracle are expected to see FCF declines, whereas Nvidia and Apple are forecast...
Fintech Focused Banking as a Service Is Reshaping Bank Stability and Consumer Expectations : Analysis
Cornell Law professor Dan Awrey released a working paper titled "Banking, Technology, and Instability" analyzing fintech‑driven Banking‑as‑a‑Service (BaaS). The paper argues BaaS flips traditional outsourcing, with fintechs delegating core banking functions to partner banks, creating regulatory arbitrage. This shift destabilizes...
Societe Generale: Capital Decrease and Report on Share Buy-Back
Societe Generale announced a €1 billion capital decrease on 23 February 2026 by cancelling 15,170,791 treasury shares. The move reduces the bank’s share capital to €939.65 million, representing 751.7 million ordinary shares. In parallel, the bank reported that 34.3% of its €1.462 billion 2025‑2026 share‑buy‑back programme...
Transaction in Own Shares
Shell plc announced on 23 February 2026 that it repurchased 1,028,319 of its own shares for cancellation, executing trades on six European venues. The GBP‑denominated purchases (LSE, Chi‑X, BATS) were made at volume‑weighted average prices around £29.54 per share, while...
3 Major Buybacks Just Dropped—Here’s the Signal Investors See
Retail giant Walmart announced a $30 billion share buyback, its largest ever, representing about 3.1% of its $980 billion market value, while reporting 24% YoY e‑commerce growth and a 5% dividend increase. Ride‑hailing firm Lyft unveiled a $1 billion repurchase plan, equal to...
Cayman Reinsurance Assets Surpass $100bn, Says Cayman Finance
Cayman Finance reports that the Cayman Islands’ reinsurance sector has surged, with licensed companies increasing from 58 to 113 and total assets exceeding $101 billion at the end of 2025. Premiums written grew from $9.3 bn in 2020 to $30.2 bn, driven largely...
A New Index Wants to Prepare African Startups for London IPOs
In January, African investors and executives launched the Africa Tech 50 Index (AT50) at the London Stock Exchange to benchmark how prepared African startups are for public listings. The index uses a six‑pillar framework covering valuation momentum, revenue strength, liquidity,...
Mortgage Investors Expect Early Challenges With New Credit Score Models
Mortgage investors are bracing for short‑term disruption as major credit bureaus roll out next‑generation scoring models that incorporate alternative data and machine‑learning algorithms. The new frameworks promise finer risk granularity but also introduce uncertainty around model validation, regulatory approval, and...
Risks Seen in Potential Shift From Tri-Merge Process
Industry analysts warn that moving away from the established tri‑merge securitization framework could introduce significant operational and liquidity risks for mortgage lenders. The tri‑merge process, which bundles GSE‑eligible loans from multiple originators, has underpinned stable funding flows for years. A...
Short Takes: Expanded-Credit MBS From Redwood / MSRs on Offer / Rate Launches Crypto Option / Sales of New Homes...
Redwood introduced an expanded‑credit mortgage‑backed security, widening the pool of agency‑eligible assets as banks see their residential MBS holdings dip in Q4. Mortgage servicing rights (MSRs) are now being offered directly, reflecting heightened M&A activity that is reshaping the conventional...
Guidance: OFSI General Licence INT/2024/4761108
On 28 May 2024 the Office of Financial Sanctions Implementation (OFSI) re‑issued General Licence INT/2024/4761108 under Regulation 64 of the Russia (Sanctions) (EU Exit) Regulations 2019. The licence authorises individuals to use retail banking services of a designated credit or financial institution, provided any payments...
The Forbidden Excel Formula that Haunts Every Organization
I've been doing analytics for 14+ years. And I'm a Microsoft Excel MVP. I still see this regularly in organizations both large and small: The one formula nobody is allowed to touch.
Companies Issue Equity Under Pressure,
$WHR. Typical. Corporate strategy has always been Issue equity when you have to NOT when you can. Stocks down 7% on a forced issuance. $ORCL same story still dumping ATM every day https://t.co/vIGKQDwhZB
The Bond Buyer Survey Shows Respondents' Concern About Politics
The Bond Buyer’s 2026 Predictions Survey, conducted with 74 public‑finance professionals, identified political uncertainty as the top five‑year threat to municipal finance, with 82% of respondents flagging it. Nearly half see tariff‑related volatility as a moderate to significant risk for...
ThemesETFs Files 30 New 2x Single-Stock ETFs, Targeting Smaller Caps
More 2x single stock ETF filings from @ThemesETFs. 30 on this filing. Issuers going further down the market cap spectrum. https://t.co/jWescSJO9t
S&P’s Calm Mask Hides Software Slump, Rising Defaults
The S&P 500 looks calm, but look under the hood. Software stocks are DOWN ~30%. Defaults are CLIMBING. Private credit is AT RISK. https://t.co/qJPf95n11Z
Liquidity Shift Could Spark Next Market Surge
"We are about to go through March Madness. What can lead to the next leg up is a change in the liquidity picture." https://t.co/HQdpsQv8uk
CBO Update Shows No Near-Term Deficit Solution
This month the CBO released their first updated budget projection since January 2025. In short, there is no solution in sight to reduce the fiscal deficit. https://t.co/r8ycIrViqQ
Beyond ARR: Key Metrics for Usage‑Based SaaS
What financial metrics do usage-based companies track when ARR isn’t the North Star? From revenue growth to NRR, AI adoption signals & RPO — here’s what truly matters 📊 Watch the full breakdown ➡️ https://t.co/g5IoWwadNz #SaaS #UsageBasedRevenue #SaaSMetrics https://t.co/hz15OquSg6
Mortgage Rates
5-handle The average 30-year fixed mortgage rate today: 5.99% Same day last year: 6.89% ---------------------- 10-year treasury yield today: 4.03% Spread today: 196 bps
Apple’s Cash Return Beats Rivals’ AI Spending, Shows Strategic Restraint
Apple returned $106.1 billion to shareholders. While its competitors collectively committed $500 billion+ to AI infrastructure. Sometimes the most strategic AI decision is knowing when not to build. Source: https://t.co/KNtNLIRTOQ
China Swapped US Treasuries for Commodities via BRI
How China largely sold out of their net UST exposure yrs ago AND cornered critical minerals without ever impacting UST or commodity markets: Lend USDs along Belt & Road (BRI), repayable in either USD, CNY, or physical commodities This amounted to swapping...
Top Minds Discuss Economics on Larry Bernstein Podcast
Interview with Kevin Warsh, Myron Scholes and (separately) me, on the Larry Bernstein podcast. Excellent questions. https://t.co/LoFzv1bqmR