Hi, it’s Matt Monks and Dani Burger in New York with some 360-degree insights on navigating M&A in tumultuous times. Also today, General Atlantic strikes a home-care deal and Rio Tinto ex-CEO’s new deal is deep-sea mining. Today’s top stories General Atlantic buys home-care company Team Services. Top UK port operator’s £10 billion sale draws KKR, GIP, DP World. Ex-Rio Tinto boss to list seabed min...
Hi, it’s Matt Monks and Dani Burger in New York with some 360-degree insights on navigating M&A in tumultuous times. Also today, General Atlantic strikes a home-care deal and Rio Tinto ex-CEO’s new deal is deep-sea mining. Today’s top stories General Atlantic buys home-care company Team Services. Top UK port operator’s £10 billion sale draws KKR, GIP, DP World. Ex-Rio Tinto boss to list seabed mining firm in $1 billion deal. Aerospace, defense parts maker Arxis seeks $1 billion in IPO. Elliott’s Citgo bid gets bogged down over price, risk concerns. Volatile normal Geopolitical conflict and market volatility are naturally dominating the headlines today. It was also a main topic during Wednesday’s Bloomberg Deals TV show. Here’s what some guests had to say about how they are seeing the impact across M&A, IPOs and activism. —Matt Monks and Dani Burger Matt Zimmer, William Blair, global head of investment banking I was in continental Europe for a couple days and also the Nordics last week. And I met with probably 25 to 30 private equity firms. The biggest topic that came up across all of these investors in that ecosystem was how do we get into defense investment. The friction between the US and NATO has certainly driven up defense spending across Europe. There are some private equity firms over there who kind of led the way into the defense spending and they are seeing their businesses double, triple in performance in a short amount of time. Joe Baratta, Blackstone, global head of private equity strategies We actually did a very successful IPO back in December and it has traded well even through all the dislocation. A company called Medline. The reason that got public and it’s traded really well is because it is what the market wants. Public investors can’t find a way to play what Medline offers without buying Medline. It is important to its customers. It’s critical health-care infrastructure serving nearly half the hospitals in the United States with the things they ne...
The perfect phone for people who carry two phones. | Photo by Vjeran Pavic / The Verge I saw a lot of weird phones at Mobile World Congress last month: robot phones , cameras disguised as phones , phones for dogs . But the one that caught me most off guard was the one my friend (and Verge alum) Sam Byford brought to dinner: an iPhone Air. "Ha!" I said. "You actually use that thing?" "Yeah," he sai...
The perfect phone for people who carry two phones. | Photo by Vjeran Pavic / The Verge I saw a lot of weird phones at Mobile World Congress last month: robot phones , cameras disguised as phones , phones for dogs . But the one that caught me most off guard was the one my friend (and Verge alum) Sam Byford brought to dinner: an iPhone Air. "Ha!" I said. "You actually use that thing?" "Yeah," he said. "It's great." That's when he pulled out a second phone - the Xiaomi Leica Leitzphone , which he was using alongside it. Got it, I said. The trick to enjoying the iPhone Air is to simply have another, much better phone on your person at all times. I found this very funny and recounted the anecdote to anyone who would listen. But fr … Read the full story at The Verge.
Participate in financial markets long enough, and an investor is apt to hear the saying, "Stocks don't move up in a straight line." Even in the strongest-trending bull markets, hot stocks take breathers. Due to the war in Iran, it's felt as though some energy stocks moved higher in a straight-line fashion. Texas Pacific Land (NYSE: TPL) exuded such vibes in February, gaining 45% and ranking as the...
Participate in financial markets long enough, and an investor is apt to hear the saying, "Stocks don't move up in a straight line." Even in the strongest-trending bull markets, hot stocks take breathers. Due to the war in Iran, it's felt as though some energy stocks moved higher in a straight-line fashion. Texas Pacific Land (NYSE: TPL) exuded such vibes in February, gaining 45% and ranking as the S&P 500' s best performer. Texas Pacific Land stock took a tumble, but investors may want to keep an eye on this energy royalty name. Image source: Getty Images. Continue reading
Stablecoin Yields Won't Harm Banks, White House Economists Say Authored by Amin Haqshanas via CoinTelegraph.com, A White House report found that banning yield on stablecoins would have a marginal impact on bank lending while creating clear economic downsides. According to the Council of Economic Advisers, a three-member agency within the Executive Office of the President tasked to offer the presid...
Stablecoin Yields Won't Harm Banks, White House Economists Say Authored by Amin Haqshanas via CoinTelegraph.com, A White House report found that banning yield on stablecoins would have a marginal impact on bank lending while creating clear economic downsides. According to the Council of Economic Advisers, a three-member agency within the Executive Office of the President tasked to offer the president economic advice, moving funds from stablecoins back into bank deposits would not translate into significant new lending. Under its baseline scenario, total bank lending would increase by about $2.1 billion, roughly 0.02% of the $12 trillion loan market. The report, published Wednesday, says that community banks would see even smaller gains. Lending at these institutions would increase by roughly $500 million, or about 0.026%. The findings come amid an ongoing clash between banks and the crypto industry over stablecoin yields. Banking organizations, including the Independent Community Bankers of America, have warned that stablecoin yields could significantly reduce bank lending , while crypto groups have rejected the claim . Stablecoin lending ban could cost $800 million per year However, banning stablecoin rewards could carry a greater cost. The report estimates a net welfare loss of around $800 million per year, mainly because users would lose access to yield on stablecoins. The cost-benefit ratio is about 6.6, meaning the economic costs would far exceed any gains in lending. “Producing lending effects in the hundreds of billions requires simultaneously assuming the stablecoin share sextuples, all reserves shift into segregated deposits, and the Federal Reserve abandons its ample-reserves framework,” the report concludes. Portfolio effects of the yield ban. Source: White House In July 2025, President Donald Trump signed the GENIUS Act into law. The law prohibits stablecoin issuers from paying interest or yield to holders, but third-party platforms (like exchanges) can ...
Representative Ritchie Torres, a Democrat from New York, during an interview in New York, US, on Tuesday, Jan. 28, 2025. Victor J. Blue | Bloomberg | Getty Images Rep. Ritchie Torres , D-N.Y., on Wednesday called for a federal probe into suspicious trading activity in oil and equity futures markets just before President Donald Trump 's announcement of a five-day delay in attacks on Iran's energy i...
Representative Ritchie Torres, a Democrat from New York, during an interview in New York, US, on Tuesday, Jan. 28, 2025. Victor J. Blue | Bloomberg | Getty Images Rep. Ritchie Torres , D-N.Y., on Wednesday called for a federal probe into suspicious trading activity in oil and equity futures markets just before President Donald Trump 's announcement of a five-day delay in attacks on Iran's energy infrastructure in March. In a letter to Securities and Exchange Commission Chair Paul Atkins and Commodity Futures Trading Commission Chair Michael Selig , first reported by CNBC, Torres cites reports on a series of irregular and well-timed trades in the minutes ahead of Trump calling a pause on hostilities. "What kind of trader would make a massive trade at 6:49 a.m., 15 minutes before a market-moving presidential announcement with billions of dollars at stake and without a hedge?" Torres said in an interview on Wednesday. "The only plausible answer to that question is an insider trader. Any other alternative is a statistical impossibility." More than $500 million in crude oil futures trades were made in the roughly 15 minutes before Trump announced the halt in strikes via Truth Social , Reuters reported last month. The New Yorker reported that in the immediate lead-up to Trump's announcement, there was an abnormal surge in futures trading volume predicting a decline in oil prices and a rebound in equity markets. Read more CNBC politics coverage Trump praises Hungary PM Viktor Orbán after Vance calls him at Budapest rally Bill Gates interview about Jeffrey Epstein by House Oversight set for June 10 House Democrats call on federal regulator to crack down on offshore prediction market war bets Torres in his letter said the "occurrence may constitute one of the largest instances of insider trading in history," and called on the SEC to open a formal investigation and, in consultation with the CFTC, obtain comprehensive trading records. A spokesperson for the SEC on Wednesday de...
Joe Hendrickson/iStock Editorial via Getty Images Co-written with Zach Gordon Thesis Fiserv ( FISV ) is undervalued. Slowing revenue growth and tumultuous management change have led to the stock falling nearly ~70% from its ATH in under a year. However, the market is underestimating the feasibility of the One Fiserv plan, along with promising opportunities in new markets that will drive strong gro...
Joe Hendrickson/iStock Editorial via Getty Images Co-written with Zach Gordon Thesis Fiserv ( FISV ) is undervalued. Slowing revenue growth and tumultuous management change have led to the stock falling nearly ~70% from its ATH in under a year. However, the market is underestimating the feasibility of the One Fiserv plan, along with promising opportunities in new markets that will drive strong growth into the future and support a stable operating model that prioritizes long-term profitability over short-term stock price. For these reasons, I assign a Buy rating with a ~90% potential upside, as I see such points coming to fruition. Company Overview Fiserv produces a variety of infrastructure with many uses across commerce/banking ecosystems, with examples including: Merchant and Payment Platforms (Clover/Carat) : These physical POS systems and payment platforms allow merchants to accept payment in store and online across different card networks. Processing Infrastructure & Services (Core Banking) : Provide backbone services to banks , things such as transaction routing, authorization, and settlement (how banks move money across networks). Software and Data Solutions: Software converts transaction and customer data into real-time analytics, allowing banks/businesses to make smarter decisions regarding their finances. Fiserv Final Pitch by Zach Gordon and Jaden Mealy The company operates on a contractual basis with most of its clients ( 2025 10-K Page 88 ), with much of its value coming from the hold it has on many of the top US banks and beyond, being able to cement itself as a leader in the industry through buyouts of other large companies and extensive relationships with many of its customers. The company caters to both larger institutions and small businesses, having both physical POS systems for restaurant/store usage and larger payment platforms for banks to manage, control, and route transactions along with internal Fiserv teams. Merchant and financial solutions...
China tech has been the investment world's most reliable source of frustration for five years running. The stocks are cheap, the companies are large, and the growth narratives are intact in places — and yet the geopolitical, regulatory, and tariff backdrop keeps finding new ways to make long positions uncomfortable. The Invesco China Technology ETF ( CQQQ ) is the most direct ETF wrapper for inves...
China tech has been the investment world's most reliable source of frustration for five years running. The stocks are cheap, the companies are large, and the growth narratives are intact in places — and yet the geopolitical, regulatory, and tariff backdrop keeps finding new ways to make long positions uncomfortable. The Invesco China Technology ETF ( CQQQ ) is the most direct ETF wrapper for investors who want exposure to that tension, and right now that tension is particularly sharp. I want to be honest about what I find interesting here: it's the same thing that makes it nerve-wracking. Tariff escalation and trade war noise have hammered sentiment on Chinese equities broadly in 2026, and CQQQ's heaviest holdings are precisely the companies global investors worry about first when U.S.-China relations deteriorate. But contrarian setups require discomfort — that's definitionally how they work. What CQQQ Tracks CQQQ launched in December 2009 and tracks the FTSE China Incl A 25/50 Technology Capped Index. The fund holds approximately 169 companies, with an AUM of roughly $2.45 billion and an expense ratio of 0.65%. That fee is above the mid-range for China-focused ETFs (MCHI charges 0.59%, FXI 0.74%), so it's not egregious but not cheap either. The fund's composition is heavier on communication services and consumer-adjacent tech than a pure semiconductor play — which matters for understanding how it behaves relative to other China ETFs. The Holdings Picture The top ten holdings represent about 53.4% of the portfolio — a fairly concentrated fund for one that holds 169 names. Tencent leads at 9.67%, followed by PDD Holdings at 9.00% and Meituan at 7.95%. Baidu rounds out the heavyweights at 6.58%, with Kuaishou at 5.70%. What I find notable is that the top three — Tencent, PDD, and Meituan — are all consumer-facing platforms. PDD's Temu unit is probably the most directly exposed to U.S. tariffs of any holding in the fund. Temu's business model essentially arbitraged che...
energyy SBA Communications ( SBAC ) rose 5.7% after a report that KKR ( KKR ) and Brookfield ( BAM ) are among funds that have shown interest in a possible acquisition of the tower owner and operator. Both investors made approaches, with talks ongoing since at least late last year, according to a TMT Finance report on Wednesday, which cited unidentified sources. It's not clear if KKR and Brookfiel...
energyy SBA Communications ( SBAC ) rose 5.7% after a report that KKR ( KKR ) and Brookfield ( BAM ) are among funds that have shown interest in a possible acquisition of the tower owner and operator. Both investors made approaches, with talks ongoing since at least late last year, according to a TMT Finance report on Wednesday, which cited unidentified sources. It's not clear if KKR and Brookfield will team up or are making separate bids. Brookfield and KKR declined to comment to the publication. The update comes after SBA ( SBAC ) shares jumped 19% last Thursday after Bloomberg reported that the company was exploring options, including a potential sale , after getting takeover interest. Large infrastructure funds have been circling the tower owner and operator. More on SBA Communications SBA Communications: Shares Jump On Potential Takeover, But Uncertainty Remains High (Rating Downgrade) SBA Communications: Near-Term AFFO Pressure, But Long-Term Recovery Potential Remains SBA Communications Corporation (SBAC) Presents at Deutsche Bank 34th Annual Media, Internet & Telecom Conference Transcript SBAC Communications gains on report it's exploring a possible sale Highest and lowest quant-rated real estate stocks above $10B cap after earnings season
Antero Resources Corporation (NYSE:AR) is among the 12 High Growth Energy Stocks to Buy Now. On April 1, BMO Capital raised its price target on Antero Resources Corporation (NYSE:AR) to $50 from $40 while maintaining a Market Perform rating, reflecting updated first-quarter estimates and improving near-term fundamentals. The firm highlighted that Winter Storm Fern is expected […]
Antero Resources Corporation (NYSE:AR) is among the 12 High Growth Energy Stocks to Buy Now. On April 1, BMO Capital raised its price target on Antero Resources Corporation (NYSE:AR) to $50 from $40 while maintaining a Market Perform rating, reflecting updated first-quarter estimates and improving near-term fundamentals. The firm highlighted that Winter Storm Fern is expected […]
Never miss an episode. Follow The Big Take daily podcast today. In just over a decade, Tether has grown from an idea into a global crypto juggernaut, poised to become one of the world’s most highly valued private companies. But where did its dollar-linked stablecoin come from and where is it headed? On today’s Big Take podcast, Bloomberg reporter Todd Gillespie and guest host Stacey Vanek Smith un...
Never miss an episode. Follow The Big Take daily podcast today. In just over a decade, Tether has grown from an idea into a global crypto juggernaut, poised to become one of the world’s most highly valued private companies. But where did its dollar-linked stablecoin come from and where is it headed? On today’s Big Take podcast, Bloomberg reporter Todd Gillespie and guest host Stacey Vanek Smith unpack one of the most powerful companies you’ve (maybe) never heard of. Read more: With Billions to Spend, Tether Finds New Allies in Washington As Lutnick Sold Cantor to His Children, Tether Gave Them a Loan Listen and follow The Big Take on Apple Podcasts , Spotify or wherever you get your podcasts. Terminal clients: click here to subscribe. This episode was produced by: David Fox; Editor: Aaron Edwards and Janet Paskin; Fact-checker: Rachael Lewis-Krisky and Eleanor Harrison-Dengate; Sound Design/Engineer: Alex Sugiura; Senior Producer: Naomi Shavin; Senior Editor: Elisabeth Ponsot; Deputy Executive Producer: Julia Weaver; Executive Producer: Nicole Beemsterboer.
Bloomberg's Michelle Davis joins Dani Burger on "Bloomberg Deals." Gilead agreed to buy private German biotech Tubulis in a deal worth up to $5 billion as it looks to boost its portfolio in a hot new area of cancer drug development. (Source: Bloomberg)
Bloomberg's Michelle Davis joins Dani Burger on "Bloomberg Deals." Gilead agreed to buy private German biotech Tubulis in a deal worth up to $5 billion as it looks to boost its portfolio in a hot new area of cancer drug development. (Source: Bloomberg)