Today's Finance Pulse
EchoStar’s SpaceX stake lifts valuation to over $42B, price target jumps to $161
EchoStar holds roughly 262 million SpaceX shares, now valued between $42 billion and $43 billion after SpaceX’s IPO. New Street Research raised EchoStar’s price target to $161 per share, about 37% above the market price. The SpaceX holding now dwarfs EchoStar’s traditional satellite assets.
Also developing:
By the numbers: Olin and Huntsman announce $12.5B all‑stock merger
BlackLine Posts 9.7% Revenue Rise as Platform Strategy Fuels Deal Size Surge
BlackLine, Inc. announced a 9.7% increase in Q1 2026 revenue and a margin expansion to 21.6% after moving to a platform‑based commercial model. The shift drove an 85% rise in average new deal size to $162,000 and an 18% lift in remaining performance obligations, signaling deeper enterprise commitments.
Vipshop's Cheap Valuation Amid Buybacks and REIT Plans
Vipshop (VIPS US): • Overstock of China, now beauty e-com • Share buyback of 1/3 of shares since 2021, continuing • Selling Shanshan outlet properties as REIT soon • Trades at 6x P/E with 42% net cash/market cap • Risks: J Capital 2014 short report,...
BridgeBio Q1 2026 Earnings Show Atruvio Revenue Surge to $180.6M
BridgeBio posted Q1 2026 revenue of $194.5 million, powered by Atruvio net product revenue of $180.6 million—a 24% sequential rise and 392% year‑over‑year increase. The company also announced a $500 million share‑repurchase program and a cash balance of $940.2 million, underscoring a stronger financial...
RadNet Inc (RDNT) Q1 2026 Earnings Call Transcript
RadNet reported record Q1 2026 revenue of $547.7 million, up 14.8% year‑over‑year, and adjusted EBITDA of $87.7 million, a 16.9% increase. Digital Health revenue surged 48.2% to $27.9 million, driving ARR to $75.4 million with guidance to reach $140 million...
Chalmers Reveals Gas Tax Revenue Is up in Federal Budget
Treasurer Jim Chalmers announced that the petroleum resource rent tax (PRRT) on offshore gas projects will generate about $1.5 billion AUD (≈$990 million USD) this year, higher than forecast. The upcoming federal budget will earmark roughly $2 billion AUD (≈$1.3 billion USD) for housing‑related infrastructure,...
The Federal Government Must Issue More Debt than It Expected as Cash Flow Weakens, and ‘the Bond Market Is Shouting’
The Treasury Department now projects $189 bn of borrowing for the April‑June quarter, roughly $79 bn higher than its February outlook and $122 bn above the figure adjusted for the quarter’s opening cash balance. The uptick occurs despite the spring filing season’s usual...
The Federal Government Must Issue More Debt than It Expected as Cash Flow Weakens, and ‘the Bond Market Is Shouting’
The Treasury Department now projects $189 billion in borrowing for the April‑June quarter, $79 billion more than its February forecast and $122 billion higher after adjusting for the opening cash balance. Weaker cash flow reflects new tax breaks and up to $166 billion in...
Wedbush Sends Blunt Message on Elon Musk's Tesla and Intel Deal
Elon Musk’s Terafab project, a joint semiconductor fab venture between Tesla, SpaceX and Intel, has filed a $55 billion Phase 1 investment with total costs potentially reaching $119 billion. The facility aims to produce 2‑nanometer AI and memory chips at a scale of...
KCE: Not The Best Tactical Approach To Financial Exposures
Valkyrie Trading Society argues that the State Street SPDR S&P Capital Markets ETF provides solid exposure to asset managers and custody banks, while KCE’s high valuation curtails its upside. The analyst notes that many asset‑manager components of KCE trade above...
Focus on Interest Coverage in Normal Years, Not Booms
Graham had one rule most analysts skip: interest had to be covered, not in a good year. In a normalized one. Because the good years take care of themselves. That's not conservatism. That's the entire game.
Fed Officials Signal Potential Rate Adjustments as AI-Driven Productivity Gains Persist
At the Hoover Institution Monetary Policy Conference, Chicago Fed President Austan Goolsbee, Vice Chair Michelle Bowman, Governor Christopher Waller and San Francisco Fed President Mary Daly examined a sustained 1‑point annual productivity boost tied to AI. Goolsbee warned that while...
McDonald's Targets 50,000 Outlets by 2027 as Q1 Sales Surge but U.S. Margins Falter
McDonald's CEO Chris Kempczinski reaffirmed the goal of 50,000 restaurants by the end of 2027, citing first‑quarter systemwide sales that rose 11% to over $34 billion. At the same earnings call, CFO Ian Borden warned that U.S. company‑operated margins were “not...
Intertek Rejects EQT's £9 Billion Takeover Bid, Citing Undervaluation
Intertek Group PLC rejected EQT Fund Management's latest £9 billion (≈$11.5 bn) takeover approach, calling the offer significantly undervalued. The board also highlighted execution risk tied to the proposal’s conditional nature while the company continues its strategic review of a possible split...
Starz Posts $211M OTT Revenue, Boosts Margin Outlook Amid Pricing Push
Starz announced OTT revenue of $211 million for Q1 2026, a sequential rise from $210 million, as pricing discipline and a $11.99 price increase lifted ARPU. The company also cut content spend, exited its Pay‑Two deal and reaffirmed guidance for continued margin expansion.
Walker & Dunlop Q1 Transaction Volume Surges 94% to $13.7 B
Walker & Dunlop posted $13.7 B in first‑quarter transaction volume, up 94% year over year, as debt origination more than doubled. The surge reflects strong agency lending, a $1.7 B Freddie Mac refinancing for Starwood Capital, and the firm’s role in financing Vesper...
Indonesia, Philippines Launch $47 Bn Nickel Corridor to Secure EV Battery Supply
Indonesia and the Philippines signed a memorandum of understanding to establish a "Nickel Corridor" that will channel $47.36 bn of investment and create 180,600 jobs by 2030. The partnership links Indonesia's downstream smelting capacity with the Philippines' upstream ore, aiming to...
Devon Energy Completes $26 Bn All‑stock Merger with Coterra, Forming $58 Bn Delaware Basin Giant
Devon Energy and Coterra Energy have closed a $26 bn all‑stock merger, creating a combined company valued at $58 bn. The deal gives Devon a leading position in the Delaware Basin and targets $1 bn of annual pre‑tax synergies by 2027.
CME Launches Avalanche and Sui Futures as Institutional Hedging Demand Surges
CME Group rolled out regulated futures on Avalanche (AVAX) and Sui (SUI) on May 4, with G-20 Group and FalconX completing the inaugural block trades. The move expands CME’s crypto derivatives suite and reflects heightened institutional appetite for altcoin hedging...
Varex Imaging Posts 1% Revenue Rise, Medical Segment Drives Q2 Growth
Varex Imaging Corp. posted $216 million in Q2 2026 revenue, a 1% year‑over‑year increase, with the medical imaging business contributing $156 million (72% of total). The modest top‑line gain came as non‑GAAP gross margin fell 240 basis points, reflecting higher component costs...
White House Proposes Record $75.7 B FY27 IT Budget for Federal Civilian Agencies
The White House has proposed a historic $75.7 billion IT budget for FY27, the largest ever for civilian agencies. The Veterans Affairs department tops the list with $12.2 billion, a 62% jump, while Treasury and the IRS also see sizable boosts. The...
Jefferies Says India Remains a Top Emerging‑Market Target Despite MSCI Weight Drop
Jefferies analysts warned that even as MSCI reduces India’s weighting in its Emerging Markets index, the country stays a prime destination for investment‑bank advisory and capital‑raising work. The note underscores continued deal flow, M&A pipelines, and financing opportunities across sectors.
RGA Posts $611 M Q1 Adjusted Income, Boosts Share Buybacks Amid 5% Premium Growth
Reinsurance Group of America (RGA) announced Q1 2026 results with pretax adjusted operating income of $611 million and adjusted EPS of $6.97. The company posted 5% traditional premium growth, returned $50 million via share buybacks, and signaled continued capital deployment and debt...
SRA Demands Extra £25 Million ($31 M) From Solicitors to Fund Regulatory Overhaul
The Solicitors Regulation Authority announced a £25 million (≈$31 m) increase in its 2026‑27 funding, lifting the SRA portion of practising certificates from £190 to £240. The move will push individual solicitors’ annual costs up 38% and firm contributions up 85%, sparking...
TCI’s Chris Hohn Cuts $8 B Microsoft Stake, Signaling Portfolio Shift
TCI, the hedge fund founded by Christopher Hohn, sold almost its entire $8 billion Microsoft position, lowering the holding to about 1% of the fund’s assets. Hohn warned that rapid AI advances threaten Microsoft’s competitive edge, prompting a broader reallocation toward...
Domino's CEO Blames DPE Franchise for International Sales Decline, Cuts Guidance
Domino's CEO Russell Weiner warned that Domino's Pizza Enterprises (DPE), the company's largest international franchisee, caused a 0.4% drop in Q1 international same‑store sales, leading the firm to lower its full‑year international growth outlook to low single‑digit. The warning underscores...
Citi Execs Detail Culture Overhaul at Investor Day, Target 15% RO TCE by 2029
Citi’s May 7 investor day featured CEO Jane Fraser and four senior leaders outlining a culture‑change program that is more than 90% complete. The bank set a profitability target of 14‑15% return on tangible common equity by 2029, positioning the effort...
Guardant Health Q1 Revenue Surges 48% YoY to $302M, Fastest Growth in Five Years
Guardant Health posted Q1 2026 revenue of $302 million, a 48% year‑over‑year increase and the strongest growth rate in five years. The biotech’s oncology and screening divisions drove the surge, prompting the company to lift its full‑year revenue outlook to $1.30‑$1.32 billion.
UK Gilts Yield Spike as Bond Vigilantes React to Labour’s Local Election Losses
Institutional investors dubbed “bond vigilantes” drove UK gilt yields to their highest levels since 2008 after Labour’s local election setbacks, where the party lost roughly 58% of the seats it defended. The surge in yields raises the cost of borrowing...
Enbridge Q1 Earnings Slip but FY26 Outlook Remains Intact
Enbridge Inc. posted first‑quarter earnings of C$1.67 billion ($1.24 billion), a drop from C$2.26 billion a year earlier, as non‑cash derivative adjustments weighed on results. The company reaffirmed its FY26 adjusted EBITDA guidance of C$20.2‑20.8 billion and declared a C$0.97 per‑share dividend.
AI Triggers 21,500 Layoffs in April, Accounting for Over a Quarter of Tech Job Cuts
Outplacement firm Challenger, Gray & Christmas reported that AI‑linked restructuring accounted for 21,490 layoffs in April, 26% of all cuts and a 38% rise from March. The tech sector led with 33,361 job reductions, prompting investors to reassess capital allocation...
MercadoLibre Q1 Revenue Jumps 49% as Credit Portfolio Swells to $14.6B
MercadoLibre reported a 49% year‑over‑year increase in net revenue for Q1 2026, driven by double‑digit GMV growth across Brazil, Mexico, Argentina and Chile. The fintech arm’s credit portfolio nearly doubled to $14.6 billion, but operating margin fell to 6.9% as the...
Apis Partners Closes $1.23 B Fund III, Doubling Size of Prior Fintech Fund
Apis Partners announced the final close of its Global Growth Fund III and Growth Markets Fund III with combined commitments of $1.23 billion, 23% above target. More than 70% of existing limited partners returned, contributing roughly half of the capital, as...
Nvidia Invests $2.1 B in IREN, Boosting AI Data‑Center Capacity After Bitcoin Roots
Nvidia announced a $2.1 billion investment in IREN, granting the chipmaker rights to buy up to 30 million shares as the former Bitcoin miner rolls out up to 5 GW of Nvidia‑branded AI infrastructure. The partnership also includes a $3.4 billion AI‑cloud contract, positioning...
Ginkgo Bioworks Q1 Shows 49% Revenue Drop but Strong B2B Platform Demand
Ginkgo Bioworks posted Q1 2026 revenue of $19 million, down 49% year‑over‑year, but emphasized growing demand for its synthetic‑biology platforms from industrial customers. The company’s Nebula autonomous labs, new cloud‑based sales channels, and a $47 million federal contract illustrate accelerating B2B adoption.
Expedia Spent $279 Million on Acquisitions in Q1, Airbnb Gained $70 Million on Tiqets Deal: Scoop
Expedia Group spent $279 million in Q1 2025 to acquire Amsterdam‑based ticketing platform Tiqets, as disclosed in its 10‑Q filing. Airbnb, which previously invested in Tiqets, recorded a $70 million gain from the sale, boosting its quarterly profit. Expedia plans to first embed...
Nifty 50, Nifty 500: PE Multiples Can Be the Same Number yet Poles Apart
The piece warns that identical Nifty 50/500 P/E multiples can mask very different risk profiles because India’s cost of equity (CoE) has risen sharply. Using Professor Aswath Damodaran’s adjusted CAPM framework, the article shows CoE climbing from roughly 9.9% in...
Fuutura Responds to IMF Stablecoin Concerns with Compliance-First Infrastructure for Emerging Markets
The IMF’s April 2026 Global Financial Stability Report warned that cross‑border stablecoin flows to emerging economies surged from roughly $12 billion in early 2020 to $316 billion by early 2025, outpacing Bitcoin and Ethereum. It cautioned that unchecked growth could spur currency...
Nvidia Pledges up to $40 B in Public-Company Investments
Nvidia $NVDA has signed commitments so far this year to invest up to $40 Billion into different public companies - CNBC
Enterprise Software Spend Hits $6‑7K Per Employee, Likely Rising
So today the average enterprise pays $6-7,000 per year per employee on software and services. Once token budgets get sorted, which tokens will be used in that figure, I do think this annual spend per employee goes up. Question...
Trump Media Reports $2.2B in Assets as Crypto Holdings Drive Q1 Loss
Trump Media & Technology Group (DJT) reported $2.2 billion in total assets, with $2.1 billion in financial assets, at the end of Q1. The company generated $17.9 million of operating cash flow for the fourth straight quarter, but revenue stayed under $1 million. Net...
European Battery Firm Morrow Declares Bankruptcy
European ESS battery company Morrow files for bankruptcy #energysky -- via Energy Storage News: https://t.co/DKqq8cJ2ve
Future Scrutiny Will Expose Overlooked Debt and Profit Warnings
Questions people will be writing about in the coming years: • Was it a Ponzi scheme? • Why didn’t more people worry about the circular financing? • Why were investors so blasé about the lack of profits? • Why wasn’t all the debt a bigger warning sign?
LAUSD Adopts "Wellness without Silos" Resolution to Unify Student Mental‑health Support
Los Angeles Unified School District board member Karla Griego introduced a "wellness without silos" resolution that consolidates existing staff into integrated support teams. The plan adds no new spending, a key point as the district faces a projected $191 million deficit for...
Carvana Executes 5‑for‑1 Stock Split, Boosting Access to Its Online Used‑Car Platform
Carvana completed a 5‑for‑1 forward stock split, reducing its share price from about $400 to $80 and increasing the share count fivefold. The move, championed by CFO Mark Jenkins, is intended to keep the stock within reach of employees and...
Record $2.6 T S&P 500 Call Options Volume Triggers Massive Gamma Squeeze
U.S. equity derivatives saw a historic $2.6 trillion of S&P 500 call options traded in a single day, pushing the index higher through a textbook gamma squeeze. The surge, driven by AI optimism and geopolitical easing, forced dealers at Goldman Sachs and...
Propy Secures $100 Million Credit Facility to Build AI‑Powered Blockchain Closing Platform
Propy, the Miami blockchain startup, closed a $100 million credit facility with Metropolitan Partners Group to develop an AI‑enabled, end‑to‑end closing platform on public blockchain. The funding aims to consolidate title and escrow services, speed transactions, and reduce fraud in real‑estate...
OppFi to Acquire BNCC Corp and BNC National Bank in $130 Million Deal
OppFi (OPFI) disclosed a $130 million acquisition of BNCC Corp and BNC National Bank, aiming for a Q4 2026 close pending regulatory sign‑off. The deal is projected to be at least 25% EPS‑accretive in year one and deliver $115 million in synergies by...
Republic Services Posts 2.6% Revenue Rise and 32.1% EBITDA Margin in Q1
Republic Services (RSG) posted a 2.6% increase in first‑quarter revenue and lifted its adjusted EBITDA margin to 32.1% on a $1.70 adjusted EPS. The waste‑management giant cited disciplined pricing, digital upgrades and a $700 million acquisition spend while warning of weather,...
SEC Expands Insider‑Trading Indictment to 30 Biglaw Lawyers in Multi‑Year Scheme
The U.S. Securities and Exchange Commission sued two M&A attorneys and 19 others, while the Department of Justice unsealed charges against 30 lawyers from premier law firms for a decade‑long insider‑trading operation. Prosecutors allege the scheme used confidential deal information...
Intesa Sanpaolo Posts Record Q1 Profit, Boosts Euro Banking Outlook
Intesa Sanpaolo announced a record first‑quarter net income of €2.8 billion, up 6% from a year earlier, driven by fee growth and a resilient wealth‑management franchise. The results reaffirm the bank’s low‑risk profile and signal continued strength for Southern European equities.