After years of speculation about an initial public offering (IPO), SpaceX shares are expected to start trading on the Nasdaq stock exchange on June 12. Projections foresee it raising $75 billion, making it the largest IPO of all time. Before the big day arrives, there are a few tidbits of information to look at that can help any investor who wants to buy shares start setting up their game plan. Th...
After years of speculation about an initial public offering (IPO), SpaceX shares are expected to start trading on the Nasdaq stock exchange on June 12. Projections foresee it raising $75 billion, making it the largest IPO of all time. Before the big day arrives, there are a few tidbits of information to look at that can help any investor who wants to buy shares start setting up their game plan. That includes details of everything from who can invest at the IPO price to which types of orders can be placed to a way to gain exposure to SpaceX without directly investing. Image source: Getty Images. Continue reading
da-kuk/E+ via Getty Images The relationship between growth and value stocks has undergone a notable reversal, according to a chart from Michael Kantro, chief investment strategist at Piper Sandler. The chart posted by Daily Chartbook tracked the five-year beta of the S&P 500 Growth and S&P 500 Value indices since the mid-2000s. Beta measures a stock or index's sensitivity to broader market movemen...
da-kuk/E+ via Getty Images The relationship between growth and value stocks has undergone a notable reversal, according to a chart from Michael Kantro, chief investment strategist at Piper Sandler. The chart posted by Daily Chartbook tracked the five-year beta of the S&P 500 Growth and S&P 500 Value indices since the mid-2000s. Beta measures a stock or index's sensitivity to broader market movements, with a reading above 1 indicating greater volatility than the market and a reading below 1 indicating lower volatility. Historically, value stocks carried a higher beta than growth stocks, meaning they tended to be more sensitive to swings in the broader market. However, the chart showed that trend reversing around 2021, with the two measures crossing over. Since then, the beta of the S&P 500 Growth Index has steadily climbed, reaching roughly 1.16, while the beta of the S&P 500 Value Index has fallen to about 0.83. "The beta of the Value & Growth indices has completely switched places," Kantro said in a post accompanying the chart. The divergence suggested growth stocks have become the higher-risk segment of the market, while value stocks have taken on more defensive characteristics. The gap between the two measures is now near its widest level in the data shown. The shift comes after several years in which large-cap growth companies have increasingly dominated market leadership, resulting in greater sensitivity of the growth index to overall market movements. Meanwhile, value stocks have exhibited lower relative volatility, according to the chart. Here is the chart: Daily Chartbook More on markets Equity Supply Surge: What Historically Comes Next S&P 500 Retreats After Jobs Report Raises Prospect Of Rate Hikes Chart Of The Day: Here's Why 'Everything' Just Tanked AM Markets Need to Know: Middle East conflict updates, Strategy may resume BTC buying, and more Marvell Technology, Flex jump on S&P 500 inclusion plan
As AI focus shifts from chips to applications, software stocks like PLTR, XYZ, TEAM and DOCU could benefit from rising adoption and projected software spending gains.
As AI focus shifts from chips to applications, software stocks like PLTR, XYZ, TEAM and DOCU could benefit from rising adoption and projected software spending gains.
Kenneth Cheung Microsoft ( MSFT ) was in focus on Monday as the National Health Service England announced it would be rolling out Microsoft 365 Copilot to its 505,000 staff members. Shares of the Satya Nadella-led Microsoft were little changed in premarket trading. The rollout comes after a trial of artificial intelligence services that saw more than 30,000 NHS workers across 90 NHS organizations ...
Kenneth Cheung Microsoft ( MSFT ) was in focus on Monday as the National Health Service England announced it would be rolling out Microsoft 365 Copilot to its 505,000 staff members. Shares of the Satya Nadella-led Microsoft were little changed in premarket trading. The rollout comes after a trial of artificial intelligence services that saw more than 30,000 NHS workers across 90 NHS organizations gain access to the tool. The trial found that with the help of an AI-powered assistant, staff members could save on average 43 minutes per day, which is roughly 5 weeks of time per person annually, NHS England said in a statement . “The NHS wants to embrace cutting-edge technology and this Microsoft partnership will mean staff can be freed from admin so they can focus more of their time on what matters most – improving care for patients,” Rob Thompson, Chief Digital, Data, and Technology Officer at NHS England, said in the statement. “Innovations like this will help drive NHS productivity so patients can get the treatment they need sooner and there is better value for taxpayers,” Thompson added. “The potential to save NHS staff around 2 days of admin time every month could be a gamechanger for patients. As part of our 10-Year Health Plan, we’re making sure every pound is spent on cutting waiting times and boosting care.” “By rolling out Microsoft 365 Copilot at scale, NHS teams can cut through everyday admin and spend more time where it matters most,” Darren Hardman, CEO, Microsoft UK and Ireland, added. “Bringing AI safely into the flow of healthcare will help ease pressures, improve productivity and support better decision-making across the health service. We’re proud to work with NHS England to help tackle some of its biggest challenges and accelerate digital transformation for the benefit of staff and patients alike.” The rollout is expected to be finished by October 2026. More on Microsoft Microsoft: The $37 Billion AI Question Investors Can't Ignore Microsoft: Future ...
Here are the biggest calls on Wall Street on Monday: Wells Fargo reiterates Micron as overweight Wells raised its price target on the stock ahead of earnings later this month. "Reiterate OW into F3Q26 (6/24); raise est. & PT to $1,220 (was $550), ~9x F2028 EPS. Despite strong stock perf we see continued upside driven by greater confidence in duration of persistent memory tightness, SCA engagements...
Here are the biggest calls on Wall Street on Monday: Wells Fargo reiterates Micron as overweight Wells raised its price target on the stock ahead of earnings later this month. "Reiterate OW into F3Q26 (6/24); raise est. & PT to $1,220 (was $550), ~9x F2028 EPS. Despite strong stock perf we see continued upside driven by greater confidence in duration of persistent memory tightness, SCA engagements, & MU's execution." Bank of America upgrades Brown-Forman to neutral from underperform The firm says it's getting more "constructive" on the beverage stock. "We are turning more constructive o n Brown Forman, following better than expected Q4/FY26 results and consistent delivery on sales through FY26." JPMorgan initiates Kontoor Brands as overweight JPMorgan says the stock is at an inflection point. "We are initiating coverage of Kontoor Brands (KTB) with an Overweight rating and $90 December 2027 price target." Goldman Sachs upgrades W.R. Berkley to buy from neutral Goldman says it sees "sustainable underwriting activity for the insurance company. "... we are upgrading commercial insurer WRB to Buy from Neutral, as we think current underwriting margins and ROE are likely more sustainable than expected." Canaccord initiates Lantronix as buy Canaccord says shares of the drones company have plenty of room to run. "We are initiating coverage on Lantronix Inc. with a BUY rating and a $10.50 price target." Bank of America reiterates Apple as buy The firm says it's bullish on Apple's Worldwide Developer's Conference this week. "Reiterate Buy on strong capital returns, eventually winner at AI at the edge & optionality from new products/markets." Baird upgrades Crocs to outperform from neutral Baird said in its upgrade of Crocs that a "healthier North American story is emerging." "We are adopting a more positive stance, incorporating a higher degree of confidence that positive inflections for Crocs North America and HEYDUDE look sustainable, increasing visibility to a return to he...
(RTTNews) - Johnson & Johnson (JNJ) on Monday announced a definitive agreement to acquire Firefly Bio, Inc., a biotechnology company for $1 billion in cash.
(RTTNews) - Johnson & Johnson (JNJ) on Monday announced a definitive agreement to acquire Firefly Bio, Inc., a biotechnology company for $1 billion in cash.
This cloud software provider for mission-driven organizations reported a sale by its CFO amid a challenging year for its stock. Chad Anderson, Executive VP and CFO of Blackbaud (NASDAQ:BLKB) , reported the sale of 6,205 shares of common shares in an open-market transaction on June 1, 2026, according to a SEC Form 4 filing . Transaction value based on SEC Form 4 reported price ($31.31); post-transa...
This cloud software provider for mission-driven organizations reported a sale by its CFO amid a challenging year for its stock. Chad Anderson, Executive VP and CFO of Blackbaud (NASDAQ:BLKB) , reported the sale of 6,205 shares of common shares in an open-market transaction on June 1, 2026, according to a SEC Form 4 filing . Transaction value based on SEC Form 4 reported price ($31.31); post-transaction value based on June 1 market close ($32.74). Continue reading
Peruvian bonds edged lower as the country’s bitterly contested presidential election remained too close to call with the latest data showing conservative Keiko Fujimori holding the narrowest of leads over leftist Roberto Sánchez . With 92.2% of votes tallied, Fujimori was leading 50.2% to 49.8%, though a full official count isn’t expected until mid-July when any challenged votes are set to be adju...
Peruvian bonds edged lower as the country’s bitterly contested presidential election remained too close to call with the latest data showing conservative Keiko Fujimori holding the narrowest of leads over leftist Roberto Sánchez . With 92.2% of votes tallied, Fujimori was leading 50.2% to 49.8%, though a full official count isn’t expected until mid-July when any challenged votes are set to be adjudicated. Still, a quick count by pollster Ipsos based on a representative sample of the vote tallies and which has a margin of error of 1.9 points, showed Sánchez with 50.3% of the vote, while Fujimori drew 49.7%. The firm is highly regarded in Peru and its quick count methodology has a perfect record predicting electoral outcomes this century. Another quick count by pollster Datum showed Sánchez with 50.14% and Fujimori with 49.86%. Both estimates were within the pollsters’ margin of error. “Uncertainty over the electoral outcome could likely last for several days, if not weeks, until the official vote count is completed and potential controversies are resolved,” according to Alejandro Arreaza , global research analyst at Barclays. “Whoever wins the presidency in current conditions could likely face a weaker mandate, which warrants caution, as political instability may persist and could entail non-negligible fiscal costs.” Bonds edged lower across the curve, with those due in 2036 down 0.2 cent to trade at 100.3 cents on the dollar, according to indicative pricing data compiled by Bloomberg. Hopes of a market-friendly outcome started to deflate on Friday amid expectations of a tight race, with the ten-year tenor falling the most for a single session since March. Read more: Peru Presidential Vote Is Too Close to Call as Fujimori Leads Both candidates have sharply contrasting views on how to manage Peru’s economy, but Fujimori has greater legislative support to advance her agenda. She has pledged to protect the independence of the central bank — a pillar of the country’s eco...
JHVEPhoto/iStock Editorial via Getty Images Adobe ( ADBE ) is set to report earnings this Thursday, June 11th. The company is coming into the print, arguably, from the weakest position it's ever been in. The numbers don't show it, but the market is fairly adamant of the fact that Adobe is an AI loser. After several quarters with decent results, it's pretty clear that revenue growth stability or su...
JHVEPhoto/iStock Editorial via Getty Images Adobe ( ADBE ) is set to report earnings this Thursday, June 11th. The company is coming into the print, arguably, from the weakest position it's ever been in. The numbers don't show it, but the market is fairly adamant of the fact that Adobe is an AI loser. After several quarters with decent results, it's pretty clear that revenue growth stability or sustained margins won't be enough to change market perception, and frankly, I don't think they should. As I wrote previously, Adobe has to go on offense for the stock to start working, and by that, I don't mean forcing its way into an AI story. By offense, I mean seeing it for what it really is now, a mature "Value" play. Adobe's Fall From The Top Once the embodiment of a long-term compounder, Adobe's fall from the top was quick and painful. Seeking Alpha The stock is now severely underperforming the market over the past decade, including a 50% decline over the past five years, compared to an 88% gain for the index. The story of this fall has been talked about enough, including by me in previous articles . But just to set the background, Adobe is one of many software companies that have failed to make their case against AI disruption. And, I'd argue that Adobe's case is one of the most difficult ones to make. While SAP ( SAP ), ServiceNow ( NOW ), or Salesforce ( CRM ) can speak about data, distribution, and complexity moats, Adobe is mainly a creative software, fighting against ever-improving generative solutions. Results Effectively Irrelevant In Upcoming Earnings, It's About The "Token Path" In the previously announced quarter, Adobe delivered a beat on earnings and revenues, yet the stock continued its decline. Adobe Q1'26 Slides It didn't matter that revenue growth was sustained at double-digit levels and that operating margins were roughly stable. Adobe Q1'26 Earnings Release In the upcoming quarter, Adobe guided for ~$6.45 billion in revenues and $5.85 in adjusted EPS,...
Willie B. Thomas/DigitalVision via Getty Images This past week, the market hit an all-time high. At the same time, Alphabet ( GOOG ) told investors it would raise $80 billion by selling stock to fund its AI buildout, and the shares fell about 4% on the news. Within days, SpaceX ( SPCX ) is reportedly set to price one of the largest IPOs ever attempted. If you want a live picture of an equity suppl...
Willie B. Thomas/DigitalVision via Getty Images This past week, the market hit an all-time high. At the same time, Alphabet ( GOOG ) told investors it would raise $80 billion by selling stock to fund its AI buildout, and the shares fell about 4% on the news. Within days, SpaceX ( SPCX ) is reportedly set to price one of the largest IPOs ever attempted. If you want a live picture of an equity supply surge meeting a market priced for perfection, you’re looking at it. The question isn’t whether the equity supply is coming. It’s what happens after it lands. A reader sent me two charts this week. The first, below, shows U.S. equity issuance climbing since 2023. The second chart below matters more, and we’ll get to it momentarily. The reader’s instinct was that these equity supply waves tend to either precede or coincide with market downturns. He’s right, for the most part, but history needs one important correction, and the current setup deserves a closer look than the cheerleading it’s getting. The Setup: An Equity Supply Wave Meets a Record Market Let’s start with the mechanics, because they’re what make 2026 different from a normal IPO year. New equity supply will hit the market in two waves, not one. First comes the offering itself. Then, 90 to 180 days later, the lockup expires, and insiders, employees, and pre-IPO investors are free to sell. That second wave of equity supply is usually far larger than the IPO, and it arrives after the headlines have faded. The second chart my reader sent captures exactly this. It stacks IPO gross proceeds against the value of shares freed from expiring lockups, and the 2026 estimate towers over every prior year back to 1998, with the combined figure pushing past $700 billion. The IPO proceeds are a small part, but the lockup overhang is the rest. Make no mistake, that is a wall of supply. The pipeline backs up the picture. Goldman Sachs has projected that U.S. IPO proceeds could reach a record near $160 billion in 2026 if the marqu...
Welcome to India Edition, Bloomberg’s daily dive into what’s moving the worlds of business, markets and politics in this dynamic, fast-paced economy. I’m Menaka Doshi . If you didn’t receive this directly in your inbox, you can subscribe here , and share feedback with us here . Today, I look at the rupee’s retreat, and my colleague Sudhi Ranjan Sen decodes the significance of India’s outreach to V...
Welcome to India Edition, Bloomberg’s daily dive into what’s moving the worlds of business, markets and politics in this dynamic, fast-paced economy. I’m Menaka Doshi . If you didn’t receive this directly in your inbox, you can subscribe here , and share feedback with us here . Today, I look at the rupee’s retreat, and my colleague Sudhi Ranjan Sen decodes the significance of India’s outreach to Venezuela. Time, Not a Turn The rupee’s recovery has been short-lived. India’s currency declined 0.8% today, the most in almost a month, giving up nearly all the gains from Friday’s massive policy measures aimed at drawing foreign investment and slowing depreciation. The immediate trigger was global. A fresh exchange of missile attacks between Israel and Iran rattled markets despite US President Donald Trump’s calls for a ceasefire and renewed talks. Brent crude surged toward $100 a barrel , with the Strait of Hormuz still disrupted 100 days into the war. The risk-off mood was already building after weakness in US technology stocks and a stronger dollar . Asian equities fell, with India down about 1%, Japan 3.8% and South Korea 8.3%. Currencies were under pressure across the region even as yields rose on expectations of monetary tightening by central banks. It’s possible this may reverse soon as reports now suggest Iran has declared the end of strikes against Israel. The other reason for rupee weakness are a handful of sobering assessments from currency experts that Friday’s fireworks may not dazzle investors enough. HSBC said India may not see a significant pickup in foreign demand for sovereign debt over the next three months as investors stay cautious on global inflation. El Nino risks and renewed expectations for rate hikes are likely to weigh in the first half of the third quarter, APAC rates strategist Duncan Tan wrote. Barclays said India needs about $7 billion to $8 billion a month in capital inflows to fund its external account, while the RBI measures may bring in a...