Today's Finance Pulse
SpaceX’s record‑breaking IPO targets $75 billion raise, pushes valuation past $1.7 trillion
SpaceX filed for an IPO that could raise at least $50 billion and value the company above $1 trillion. The June 12 offering priced shares at $135, raising $75 billion and valuing the rocket maker at roughly $1.77 trillion. Analysts say the float highlights strong investor appetite for AI‑linked aerospace assets.
Also developing:
Anglogold Ashanti PLC (AU) Q1 2026 Earnings Call Transcript
IAMGOLD reported a strong Q1 2026, producing 183,600 attributable ounces of gold and generating over $1 billion in revenue. Mine‑site free cash flow reached $525 million, allowing $260 million of share buybacks and a $100 million debt repayment, moving the company to a net‑cash position. Cash and equivalents stood at $505 million with total liquidity around $1.1 billion. Management highlighted upcoming resource updates at Côté, Essakane, Westwood and the Nelligan Mining Complex as key catalysts for future growth.
Wendy's Co (WEN) Q1 2026 Earnings Call Transcript
Wendy's reported an 8.3% decline in global system‑wide sales for the quarter, driven primarily by an 11.3% drop in U.S. same‑restaurant sales. International markets continued to expand, posting a 6.2% sales increase and marking the 21st consecutive quarter of growth....
Fidelity National Information Services Inc (FIS) Q1 2026 Earnings Call Transcript
Fidelity National Information Services (FIS) posted Q1 2026 adjusted revenue of $2.7 billion, up 6.3% year‑over‑year, and an adjusted EBITDA margin of 41.8%, improving by roughly 200 basis points. Free cash flow conversion surged to 142%, delivering $800 million, while the company...
Madison Square Garden Sports Corp (MSGS) Q3 2026 Earnings Call Transcript
Madison Square Garden Sports Corp. reported Q3 2026 revenue of $403.4 million, a 13% year‑over‑year increase, and adjusted operating income of $29.7 million, up $9.4 million. Growth was driven by higher per‑game ticket, suite, sponsorship and merchandise sales, as well...
Telephone and Data Systems Inc (TDS) Q1 2026 Earnings Call Transcript
Telephone and Data Systems (TDS) closed a $1.018 billion spectrum sale to AT&T and used the proceeds to retire its remaining $150 million term loan, strengthening its balance sheet. The company accelerated its fiber build, adding 58,000 marketable addresses in Q4 and...
Network-1 Technologies Inc (NTIP) Q1 2026 Earnings Call Transcript
Network-1 Technologies reported a 15.3% rise in total consolidated net sales to $22.0 million, driven by a 72.1% surge in ZERUST Oil & Gas sales and solid growth across industrial and bioplastic segments. Joint‑venture revenue jumped 18.6% to $23.5 million,...
BROOKFIELD ASSET MANAGEMENT LTD (BAM) Q1 2026 Earnings Call Transcript
Brookfield Asset Management reported a record $112 billion of capital raised and $66 billion deployed in 2025, driving fee‑related earnings (FRE) to $3 billion, a 22% increase. Non‑flagship strategies contributed nearly 90% of fundraising, while the AI infrastructure fund secured $5 billion of commitments...
CoreWeave Stock Sinks 10% on Weak Revenue Guidance, Increased Spending Forecast
CoreWeave reported Q1 revenue of $2.08 billion, surpassing expectations, but projected Q2 revenue of $2.45‑$2.6 billion, below consensus. The AI‑infrastructure firm raised $8.5 billion in new debt, bringing total borrowings close to $25 billion, and disclosed a $99.4 billion backlog. Nvidia added another $2 billion of...
Deutsche Bank Flags Inconsistent Market Pricing as Iran Conflict Drags On
Deutsche Bank’s research note warns that markets are pricing the Iran conflict inconsistently across asset classes. Treasury yields have tracked oil prices, suggesting a prolonged inflationary shock, while equities have decoupled, treating the disruption as temporary. At the same time,...
Corning CEO to Cramer: Deals with 2 Unnamed Hyperscalers 'Larger' Than $6B Meta Pact
Corning disclosed two new long‑term supply agreements with unnamed hyperscalers that are larger than its previously announced $6 billion Meta deal, pushing the combined value of the three contracts to at least $12 billion through 2030. The deals were highlighted in a...
Getting the Financial Action Task Force’s Travel Rule Right: Delivering on Guidance
The Financial Action Task Force (FATF) is finalising guidance for its revised Recommendation 16, the “Travel Rule,” which will require detailed originator and beneficiary data for cross‑border payments above roughly $1,000. The revisions introduce a de‑minimis threshold, mandate the use of...
Inside the R1.1bn SA Steel Mills Deal Now Under Scrutiny
The Industrial Development Corporation (IDC) pumped roughly $60 million (R1.1 bn) into SA Steel Mills over a seven‑year span, financing construction, equipment and working capital. The steelmaker has since entered business rescue, resulting in the loss of more than 1,100 jobs. Newly‑released...
LTC Properties’ Malin Cites ‘Attractive’ Pricing for Nursing Home Assets Amid Limited Sector Headwinds
LTC Properties said it will sell skilled‑nursing facilities only opportunistically, using proceeds to fund higher‑growth senior‑housing‑operating‑portfolio (SHOP) assets. The REIT highlighted an EBITDAR coverage ratio approaching two‑times, underscoring the strength of its remaining SNF holdings. About $265 million from recent SNF...
Mining Alpha with Michael Gentile – Junior Miners Repriced as M&A Sets New Gold Benchmarks
Two landmark acquisitions have reset pricing benchmarks for junior gold miners. G Mining Ventures acquired G2 Goldfields for roughly $600 per ounce, while Agnico Eagle purchased Rupert Resources at $500‑600 per ounce, each representing about a 70% premium to current...
Capital Gains Whack: Spot on for Real Estate, Crippling for Start Ups
The Albanese government is proposing to scrap Australia’s 50% capital‑gains‑tax (CGT) discount for assets held longer than 12 months, replacing it with a cost‑base indexation aimed at passive property investors. For tech founders, the change would double the effective tax...
Valuations Climb Across Midmarket Deals Despite Slower Activity
Middle‑market deal multiples rose sharply over the trailing twelve months, with median EV/EBITDA climbing to 9.2× from 8.4× a year earlier, according to TagniFi’s PowerComps data. Larger transactions saw the biggest jumps—deals between $200 million and $500 million reached 11.4×, while the...
Informa TechTarget Losses Continue as Growth Inches Higher
Informa TechTarget posted Q1 revenue of $106 million, up 2.1% year‑over‑year, but its net loss deepened to $70.8 million, a 66.7% loss margin. Adjusted EBITDA rose to $7.4 million, reflecting operating leverage from cost efficiencies and revenue growth. The Brand‑to‑Demand segment grew 4.7%...
Banks Favor Regulated XRPL, DeFi Likely Delayed
Banks want regulated infrastructure, not chaos. KYC, AML, OFAC compliance on chain. The XRPL delivers that. The DeFi component of the Clarity Act is what Democrats and banks both push back on because accountability is missing there. Scams, no disclosures,...
Xponential Fitness Sees 6 Percent Same-Store Slump in Q1
Xponential Fitness reported a 6% decline in North America same‑store sales for Q1 2026, while overall revenue fell 21% to $60.7 million as the company transitioned to an outsourced logistics model. The firm trimmed its net loss to $0.8 million (2 cents...
Westlake Automobile's Latest ABS Raises $1.4 Billion
Westlake Services has launched a $1.4 billion asset‑backed security (ABS) backed by subprime auto loans, marketed under the Westlake Automobile Receivables Trust 2026‑2. The transaction features eight tranches, with class A notes carrying a 40.85% credit enhancement and subordinate tranches B‑E ranging from...
Aritzia Reports Q4 and Fiscal 2026 Financial Results, Record Net Revenue
Aritzia Inc. posted a record fourth‑quarter net revenue of $1.19 billion, a 33% increase year‑over‑year, and delivered a 28% rise in comparable sales. U.S. sales surged 38% to $755 million, accounting for nearly two‑thirds of total revenue, while digital sales grew 29%...
Justifying Multiples Requires Consensus, Margin Growth, and Sustained Revenue Ramps
I know multiple justification is out the window these days but for these names. $COHR can justify the multiple mostly by hitting consensus and expanding margins. $LITE needs either a higher accepted scarcity multiple or material upside to 2028 revenue....
Canceling Buybacks Shifts Money From Share Demand to Real‑Economy Investment
I'm told focusing on the shift from share repurchase to capex is a "dumb argument" 101 It most certainly appears dumb if you don't understand the implication. Google cancelled its share repurchase from 60BN per year to zero to...
SEC's Reporting Rule Change Could Have REITs Balancing Transparency With Convenience
The SEC has proposed allowing publicly traded companies, including REITs, to file semi‑annual reports instead of quarterly ones, a shift that could halve the frequency of mandatory disclosures. Proponents argue the change would lower compliance costs and encourage investors to...
Oppose Taxing Startup Share Gains as Ordinary Income
Thanks @PaulBassat @sallyannw @bigyahu for continuing to speak up about the devastating impact of potentially taxing startup shares growth like ordinary income. Policy outcomes should always take priority over treating all assets equivalently. https://t.co/ma4v6wdWhS
CIO Ryan Israel Discusses Markets, Geopolitics
Ryan Israel (CIO of Pershing Square) and I had a fireside chat at the Berkshire Hathaway meeting last Friday. We covered the full landscape of the capital markets, geopolitics, Howard Hughes Holdings $HHH, $PS and $PSUS. https://t.co/EKQbHWaVhX
SEC, FASB Prepare for Semi-Annual Reporting Option
The SEC and FASB unveiled a proposal allowing public companies to file semi‑annual reports instead of quarterly ones, using a new Form 10‑S and a simple checkbox on Form 10‑K. The rule aims to let issuers focus on material information, reducing the...
21shares Debuts First U.S. ETF for Canton Network
JUST IN: 21shares launches TCAN, the first U.S. ETF providing institutional exposure to the Canton Network and its native token.
Winning by Not Negotiating: Lore and Arod Outsmart Taylor
Caveat venditor. How @MarcLore and @AROD got the better of Glen Taylor by… not negotiating at all
BuzzFeed (Still Exists) Missed a Debt Payment, Could Default
BuzzFeed missed a $5 million debt payment and secured an extension until May 18. Lenders waived existing defaults but added a covenant requiring at least $7.5 million in liquidity and directing proceeds from asset sales or equity issuances to debt repayment. Failure to...
Black Diamond Parent Reveals Plan to Explore Sale
Clarus Corp, the parent of Black Diamond and several adventure‑focused brands, announced a board‑led strategic review that could include selling all or part of the business. First‑quarter 2026 sales rose 2.5% to $61.9 million, with the Outdoor segment up 1.2% and...
NVIDIA Commits up to $2.1B for IREN Partnership
JUST IN: NVIDIA and IREN report a partnership, with NVIDIA to invest up to $2.1 billion in IREN.
J.M. Smucker Hires Goldman Sachs, May Divest Hostess
Axios Pro scoop from @Ryanbarwick: JM Smucker hired Goldman Sachs to launch a review of its portfolio. Hostess to hit the block? $SJM https://t.co/bTz1wCRTv8
PIMCO Flags Widening Gap Between Core CPI and Core PCE as AI Fuels Inflation
PIMCO’s latest macro signpost reveals core Personal Consumption Expenditures (PCE) inflation surged to 4.1% in February 2026, while core CPI remains subdued, creating a 60‑basis‑point positive gap—the largest swing since 1985. The divergence, driven by AI‑related demand and energy‑price pressures,...
Firmament‑Backed BP Environmental Services Completes CMS Logistics and GEAC Acquisitions
BP Environmental Services, a tech‑enabled waste and jobsite solutions provider backed by Firmament and Expedition Capital Partners, announced the completion of its acquisitions of Commercial Management Systems (CMS Logistics) and General Equipment Acceptance Corporation (GEAC). The deals broaden BP’s asset‑light...
Pelatro Q4 FY26 Net Profit Jumps 61% to $733K, but Margin Volatility Sparks Investor Caution
Pelatro Ltd., a micro‑cap software and consulting firm, reported a 61.21% quarter‑on‑quarter net‑profit surge to ₹6.11 crore (≈$733,000) for Q4 FY26. The gain was driven by a ₹2.99 crore other‑income boost, while operating margins slipped 578 basis points, highlighting volatility that investors...
Southern Oregon University Plan Would Cut or Consolidate 13 Academic Units
Southern Oregon University unveiled a Deloitte‑driven plan to cut or consolidate 13 academic units as it wrestles with a severe budget shortfall. The proposal calls for sunseting four programs—music, international studies, creative writing, and gender, sexuality and women’s studies—while merging...
KBRA's April CMCM Trend Watch Shows Private‑Label CMBS Issuance Rebound to $42B YTD
Kroll Bond Rating Agency (KBRA) released its April 2026 CMBS Trend Watch, noting a rebound in private‑label CMBS issuance with 17 deals closed in April and year‑to‑date issuance climbing to $42 billion. The report also flags a 57.7% YoY jump in...
Israeli Consortium Offers $4.5B Cash Bid for ZIM, Challenging Hapag-Lloyd Deal
An Israeli investor group headed by Haim Sakal has lodged a $4.5 billion cash offer for ZIM Integrated Shipping Services, topping the pending Hapag‑Lloyd‑FIMI merger by $300 million. The proposal includes a $250 million employee bonus and a pledge to keep ZIM’s 145‑vessel...
JPMorgan-Led Bank Group Braces for $500 Million Loss on Qualtrics Debt Restructuring
A consortium headed by JPMorgan Chase expects to absorb more than $500 million in paper losses on Qualtrics International’s high‑yield debt restructuring. The banks will use their balance sheets to finance a $5.3 billion acquisition of Press Ganey Forsta, creating the largest hung‑deal in...
Johnson Controls Beats Q2 Estimates, Raises FY26 Outlook on Record Backlog
Johnson Controls International plc reported fiscal Q2 2026 earnings per share of $0.99 (adjusted $1.19) and sales of $6.1 billion, an 8% rise year‑over‑year. The company raised its full‑year FY26 guidance after orders surged 30% and backlog climbed to a record...
AXA Posts 6% Premium Rise to €38 Bn in Q1, Reinsure Pullback Boosts Profit Outlook
AXA reported a 6% increase in gross written premiums to €38 bn ($41.4 bn) in Q1 2026, driven by higher rates and volume across property‑and‑casualty, life and health. The insurer trimmed reinsurance by 7% to €1.2 bn while keeping its Solvency II ratio...
Affiliated Managers Insider Purchase Signals Confidence in Hedge‑Fund Affiliate
Director Cates G. Staley purchased 1,500 shares of Affiliated Managers Group (AMG) for $458,745 on May 6, 2026, signaling insider confidence. The buy follows AMG's record first‑quarter assets under management, robust net inflows into liquid alternatives, and strong EBITDA and...
Euronext Begins Testing of New European CSD Platform, Targeting Sep 2026 Launch
Euronext announced the start of a client‑facing testing phase for its European Central Securities Depository (CSD) expansion, with a full go‑live slated for September 2026. The initiative will initially cover equities and ETFs in Belgium, France, Italy and the Netherlands,...
Worksport Appoints Jennifer Kartychak as CFO to Steer $35‑$42M Revenue Push and Cash‑flow Positivity
Worksport announced the promotion of Jennifer Kartychak to chief financial officer, tasking her with scaling finance operations as the company targets $35‑$42 million in revenue for 2026 and aims for operational cash‑flow positivity. The move brings in a finance leader with...
UPMC to Acquire Trinity Health System, Expanding Into Ohio Valley
University of Pittsburgh Medical Center has signed a definitive agreement to buy Trinity Health System from CommonSpirit Health, a deal slated to close in fall 2026. The transaction adds four Ohio hospitals and roughly 200,000 patients to UPMC’s portfolio, deepening...
Ecuador Raises $1 Billion in Dollar Bonds as Oil Prices Spur Demand
Ecuador sold an additional $1 billion of dollar‑denominated sovereign bonds, pricing the 2034 issue at 8.25% and the 2039 issue at 8.75%. The issuance taps stronger oil revenues and a resurgence of investor interest in emerging‑market debt.
Ringgit Gains to 3.92/USD Ahead of Bank Negara’s OPR Decision
The Malaysian ringgit strengthened to 3.9230‑3.9275 per US dollar on Thursday, buoyed by falling oil prices and a softer US dollar index. Traders are eyeing Bank Negara Malaysia’s overnight policy rate (OPR) meeting, where the rate is widely expected to...
DFIN Positions Clients for SEC’s Semiannual Reporting Proposal
Donnelley Financial Solutions (DFIN) announced that its ActiveDisclosure platform is ready to support public companies if the SEC adopts a semiannual reporting framework on Form 10‑S. The firm says the change could lower compliance costs while preserving market transparency.
Payward to Acquire Reap for Up to $600 Million, Expanding Global B2B Payments Stack
Payward announced a definitive agreement to buy Reap Technologies for up to $600 million in cash and stock, valuing Payward at $20 billion. The deal adds a stablecoin‑native card and payments layer to Payward's B2B infrastructure, positioning the combined firm to capture...