Rolling coverage of the latest economic and financial news SpaceX’s $1.75trn is ‘stratospherically high’, warns Michael Hewson , senior market analyst at iForex , which might put some investors off taking part in the IPO: In what looks set to be one of the most hotly anticipated IPOs in years, SpaceX is set to blast off on 12th June as it looks to raise up to $75bn from investors at $135 a share, ...
Rolling coverage of the latest economic and financial news SpaceX’s $1.75trn is ‘stratospherically high’, warns Michael Hewson , senior market analyst at iForex , which might put some investors off taking part in the IPO: In what looks set to be one of the most hotly anticipated IPOs in years, SpaceX is set to blast off on 12th June as it looks to raise up to $75bn from investors at $135 a share, which would value the company at an eye-popping $1.75trn. This eye watering valuation looks set to see the business included in the Nasdaq with many questioning how anyone can justify such a stratospheric valuation at this level of fixed price, even before the book building process has started. “We think the company has been significantly overvalued and investors will have opportunities to buy the stock at more attractive levels after the IPO.” 8.30am BST: Eurozone construction PMI for May 9am BST: UK new car sales data for May 9.30am BST: UK construction PMI for May 10.30am BST: US ‘Challenger’ jobs cuts data for May 1.30pm BST: US weekly ‘initial claims’ jobless data Continue reading...
Shutthiphong Chandaeng/iStock via Getty Images Performance Review For the three months ending March 31, 2026, the fund's Retail Class shares returned -2.75%, trailing the -1.17% return of the benchmark MSCI EAFE Index ((Net MA)). Like their domestic counterparts, international developed equity markets faced an uptick in volatility during the first quarter, especially in March, as the U.S. and Isra...
Shutthiphong Chandaeng/iStock via Getty Images Performance Review For the three months ending March 31, 2026, the fund's Retail Class shares returned -2.75%, trailing the -1.17% return of the benchmark MSCI EAFE Index ((Net MA)). Like their domestic counterparts, international developed equity markets faced an uptick in volatility during the first quarter, especially in March, as the U.S. and Israel bombed Iran. However, the fund's benchmark finished with a more modest decline than the S&P 500®, primarily because of stronger performance by broad foreign benchmarks in January and February. This was attributable to more attractive valuations and further broadening of global markets beyond the "Mag 7" U.S. favorites. In particular, there was a large difference in the performance of the information technology sector of the benchmark (-1%) and that of the S&P 500® (-9%). Moreover, tech stocks in the latter index had a large weighting of 33%, on average, and so had a pronounced dampening effect on its overall return. Among the major regions within the benchmark, Asia Pacific ex Japan (+3%) delivered the best return, led by Hong Kong (+6%) and Australia (+4%). The U.K. and Japan (both +2%) also finished the quarter in positive territory. On the other hand, Europe ex U.K. (-4%) posted the weakest return, weighed down by Denmark (-14%), Ireland (-10%) and Germany (-8%), among others. Looking at sectors, energy (+40%) led the pack by a wide margin, aided by a roughly 50% rise in the price of crude oil, as measured by per-barrel Brent North Sea Crude. The next-best showings came from utilities (+11%) and materials (+7%). Notable laggards were consumer discretionary (-15%) and financials (-4%). Avoiding France-based TotalEnergies ( TTE ) (+44%) and the U.K.'s BP (+39%), two integrated energy providers in the benchmark, notably detracted in Q1. Both stocks were lifted by the robust gain in the price of crude oil noted earlier. In February, TotalEnergies reported fourth-quarter e...
Nigeria plans to refinance high-cost debt and raise funds to to help plug its budget deficit, leveraging strong investor confidence amid elevated oil prices fueled by the US-Iran conflict. Finance Minister Taiwo Oyedele spoke to Bloomberg's Jennifer Zabasajja in London. (Source: Bloomberg)
Nigeria plans to refinance high-cost debt and raise funds to to help plug its budget deficit, leveraging strong investor confidence amid elevated oil prices fueled by the US-Iran conflict. Finance Minister Taiwo Oyedele spoke to Bloomberg's Jennifer Zabasajja in London. (Source: Bloomberg)
MSFT down 3.17% on the day, Build 2026 just dropped with a quantum chip announcement, 7 new AI models, MAI-Thinking-1, and a Mayo Clinic partnership that's genuinely mind-blowing. Moomoo
MSFT down 3.17% on the day, Build 2026 just dropped with a quantum chip announcement, 7 new AI models, MAI-Thinking-1, and a Mayo Clinic partnership that's genuinely mind-blowing. Moomoo
FinkAvenue Smith-Midland ( SMID ) said it received a notice from Nasdaq on May 29 stating that it is not in compliance with listing rule due to the delayed filing of its quarterly report for the quarter ended March 31, 2026. The company attributed the delay to changes in its accounting department following the resignation of a key accounting employee, which disrupted the quarter-end closing and re...
FinkAvenue Smith-Midland ( SMID ) said it received a notice from Nasdaq on May 29 stating that it is not in compliance with listing rule due to the delayed filing of its quarterly report for the quarter ended March 31, 2026. The company attributed the delay to changes in its accounting department following the resignation of a key accounting employee, which disrupted the quarter-end closing and review process. The stock price dropped about 5.5% on Wednesday; YTD shares lost ~18%. More on Smith-Midland Smith-Midland Still Deserves Caution Despite Continued Strong Growth Financial information for Smith-Midland
The company said on Wednesday that it plans to list its shares at $135 each. The offering would value SpaceX at around $1.77tn (€1.56tn), making it one of the world's most valuable listed companies and potentially the largest IPO in history.View on euronews
The company said on Wednesday that it plans to list its shares at $135 each. The offering would value SpaceX at around $1.77tn (€1.56tn), making it one of the world's most valuable listed companies and potentially the largest IPO in history.View on euronews