Salesforce Inc. kicked off its first US investment-grade bond sale since 2021 to fund a share buyback, testing investor appetite for software-sector debt. The firm is marketing an eight-part bond, with maturities ranging from two to 40 years, according to a person with direct knowledge of the matter. Initial price talk on the longest part of the deal is 1.95 percentage points above Treasuries, the...
Salesforce Inc. kicked off its first US investment-grade bond sale since 2021 to fund a share buyback, testing investor appetite for software-sector debt. The firm is marketing an eight-part bond, with maturities ranging from two to 40 years, according to a person with direct knowledge of the matter. Initial price talk on the longest part of the deal is 1.95 percentage points above Treasuries, the person added, asking not to be identified because details are private. Salesforce, the leading maker of customer relationship management software, is planning to raise at least $20 billion from the offering, Bloomberg previously reported. Read More: Salesforce Plans to Raise Up to $25 Billion to Fund Buybacks The software firm has become a poster child for Wall Street’s concerns about the impact of artificial intelligence on established vendors — even as it is also tapping AI tools as a growth engine. The company’s stock has lost 26% this year, and investors have demanded wider spreads over Treasuries to buy its existing notes. Still, revenues and profits are seen rising this year, according to analyst estimates compiled by Bloomberg, and Salesforce last month announced a $50 billion stock buyback program and 5.8% dividend increase alongside a better-than-expected sales forecast. A debt-funded buyback is “a material shift in financial policy, including a higher tolerance for debt in the capital structure,” Moody’s Ratings said Tuesday as it downgraded Salesforce by a notch to A2. S&P Global Ratings, meanwhile, lowered its outlook to negative. The company last tapped the US bond market in 2021, when it raised $8 billion to help fund its acquisition of Slack, according to Bloomberg-compiled data. Wells Fargo & Co. , Bank of America Corp ., Barclays Plc , Citigroup Inc. and JPMorgan Chase & Co . are managing the sale.
Alistair Berg Stock index futures fell on Wednesday as the retail inflation report came in line, while traders continue to assess the U.S.-Israel-Iran conflict. Here are the four stocks to watch on the day: Eli Lilly ( LLY ) edged down 0.11% in premarket trade after announcing the submission of a marketing application for its experimental weight loss drug, orforglipron, in China. The Indiana-based...
Alistair Berg Stock index futures fell on Wednesday as the retail inflation report came in line, while traders continue to assess the U.S.-Israel-Iran conflict. Here are the four stocks to watch on the day: Eli Lilly ( LLY ) edged down 0.11% in premarket trade after announcing the submission of a marketing application for its experimental weight loss drug, orforglipron, in China. The Indiana-based drugmaker also revealed plans to invest $3 billion in the country over the next decade to expand its supply chain capacity there. A major component of the investment is building local production capacity for its pipeline, including orforglipron. NIO ( NIO ) slipped 1.9% in premarket trading despite receiving an upgrade from Nomura following the Chinese electric vehicle maker’s latest earnings report . Analysts Joel Ying and Ethan Zhang pointed to an encouraging outlook and expect current business momentum to continue. The firm noted clear improvement in NIO’s financial performance and shipment momentum over the past two quarters, suggesting the company is finally moving into a healthier business cycle. Microsoft ( MSFT ) rose 0.2% before the opening bell after backing Anthropic’s lawsuit seeking a temporary restraining order on the Pentagon’s blacklisting of the AI startup. In an amicus brief filed this week, Microsoft wrote that as an Anthropic partner, it is directly impacted by the Department of War’s designation that Anthropic presents a supply chain risk to national security. The company said a restraining order would allow time for an orderly resolution of the dispute. Ford ( F ) ticked up 0.1% in premarket trade following the unveiling of Ford Pro AI, an intelligent fleet assistant for its commercial subscription customers . The tool is designed to help fleet managers increase efficiencies, identify vehicles that need servicing, and monitor irregular driving patterns that could drive up fuel costs. Unveiled at the Consumer Electronics Show in early January, Ford Pro...
Alistair Berg Stock index futures fell on Wednesday as the retail inflation report came in line, while traders continue to assess the U.S.-Israel-Iran conflict. Here are the four stocks to watch on the day: Eli Lilly ( LLY ) edged down 0.11% in premarket trade after announcing the submission of a marketing application for its experimental weight loss drug, orforglipron, in China. The Indiana-based...
Alistair Berg Stock index futures fell on Wednesday as the retail inflation report came in line, while traders continue to assess the U.S.-Israel-Iran conflict. Here are the four stocks to watch on the day: Eli Lilly ( LLY ) edged down 0.11% in premarket trade after announcing the submission of a marketing application for its experimental weight loss drug, orforglipron, in China. The Indiana-based drugmaker also revealed plans to invest $3 billion in the country over the next decade to expand its supply chain capacity there. A major component of the investment is building local production capacity for its pipeline, including orforglipron. NIO ( NIO ) slipped 1.9% in premarket trading despite receiving an upgrade from Nomura following the Chinese electric vehicle maker’s latest earnings report . Analysts Joel Ying and Ethan Zhang pointed to an encouraging outlook and expect current business momentum to continue. The firm noted clear improvement in NIO’s financial performance and shipment momentum over the past two quarters, suggesting the company is finally moving into a healthier business cycle. Microsoft ( MSFT ) rose 0.2% before the opening bell after backing Anthropic’s lawsuit seeking a temporary restraining order on the Pentagon’s blacklisting of the AI startup. In an amicus brief filed this week, Microsoft wrote that as an Anthropic partner, it is directly impacted by the Department of War’s designation that Anthropic presents a supply chain risk to national security. The company said a restraining order would allow time for an orderly resolution of the dispute. Ford ( F ) ticked up 0.1% in premarket trade following the unveiling of Ford Pro AI, an intelligent fleet assistant for its commercial subscription customers . The tool is designed to help fleet managers increase efficiencies, identify vehicles that need servicing, and monitor irregular driving patterns that could drive up fuel costs. Unveiled at the Consumer Electronics Show in early January, Ford Pro...
tang90246/iStock Editorial via Getty Images NIO Inc. ( NIO ) has delivered its first-ever GAAP quarterly profit, marking a milestone that’s reinforced the valuation re-rate from early February when the company announced its impending earnings inflection. Specifically, the company achieved Q4 GAAP operating profit of RMB 807 million and non-GAAP operating profit of RMB 1.25 billion, exceeding the a...
tang90246/iStock Editorial via Getty Images NIO Inc. ( NIO ) has delivered its first-ever GAAP quarterly profit, marking a milestone that’s reinforced the valuation re-rate from early February when the company announced its impending earnings inflection. Specifically, the company achieved Q4 GAAP operating profit of RMB 807 million and non-GAAP operating profit of RMB 1.25 billion, exceeding the anticipated range provided in its profit alert disclosures on February 5. The results translated to GAAP net income of RMB 283 million in the quarter, reflecting consistent execution in NIO’s “Cell Business Unit” (“CBU”) cost management mechanism implemented in Q2 2025, alongside benefits of a strong Q4 delivery ramp. Yet sustained delivery weakness observed in the first two months of 2026 across NIO’s three brands remains a key risk overhang. This continues to add pressure to management’s aggressive guidance for 40% to 50% y/y volume growth in 2026 alongside quarterly operating profitability. Coupled with China’s weak macroeconomic outlook, alongside intensifying industry competition and material cost volatility, I find it challenging to underwrite management’s growth guidance, which remains a key prerequisite for sustaining operating profitability through FY 2026. Although the company still appears positioned for full year GAAP profitability in 2026 with continued FCF growth, any shortfall against management’s aggressive expectations could undermine confidence in execution and limit upside from anticipated earnings accretion. Volume Growth at Risk NIO management current expects Q1 deliveries across the three brands to total 80,000 to 83,000 units, which would imply volume growth of 90% to 97% y/y. This is expected to contribute towards management’s target for 40% to 50% y/y volume growth for full year 2026, which I view as potentially overly aggressive based on current industry demand dynamics and NIO’s near-term product roadmap. Q1 Delivery Weakness The company delivered ...
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.1% and the actively tr Upgrade to read this MT Newswires article and get so much more. A Silver or Gold subscription plan is required to access premium news articles.
The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.1% and the actively tr Upgrade to read this MT Newswires article and get so much more. A Silver or Gold subscription plan is required to access premium news articles.
JHVEPhoto/iStock Editorial via Getty Images Starz Entertainment ( STRZ ) on late Tuesday announced that its board adopted a limited-duration shareholder protection rights agreement. Popularly known as a “poison pill” to stave off hostile takeover threats, the rights will kick in only if a person or group buys a 17.5% or more equity stake in the company. Each right allows a shareholder to purchase ...
JHVEPhoto/iStock Editorial via Getty Images Starz Entertainment ( STRZ ) on late Tuesday announced that its board adopted a limited-duration shareholder protection rights agreement. Popularly known as a “poison pill” to stave off hostile takeover threats, the rights will kick in only if a person or group buys a 17.5% or more equity stake in the company. Each right allows a shareholder to purchase one share at $93, an SEC filing shows. The move comes days after media mogul Byron Allen bought a 10.7% stake in the company that was previously held by Hollywood producer and first Trump administration Treasury Secretary Steven Mnuchin. The company said the rights plan is effective immediately and expires on March 10, 2027, unless extended by shareholder resolution to March 10, 2029, or either terminated or amended by the board. Shares of the company are flat in premarket trading on Wednesday. More on Starz Entertainment Corp. Starz Entertainment: Focus On U.S. Subscriber Growth Is Paying Off (Rating Upgrade) Starz Entertainment Corp. (STRZ) Q4 2025 Earnings Call Transcript Starz Entertainment: Seeds Are Planted For A Turnaround (Rating Upgrade) Byron Allen buys Starz stake offloaded by Hollywood producer Steve Mnuchin Starz expects $80M–$120M free cash flow in 2026 as it targets 2.7x leverage and OTT revenue growth
In this article JPM Follow your favorite stocks CREATE FREE ACCOUNT Jamie Dimon, chief executive officer of JPMorgan Chase & Co., during the America Business Forum in Miami, Florida, US, on Thursday, Nov. 6, 2025. Eva Marie Uzcategui | Bloomberg | Getty Images JPMorgan Chase is reducing its exposure to the private credit industry by marking down the value of loans held by the bank as collateral, a...
In this article JPM Follow your favorite stocks CREATE FREE ACCOUNT Jamie Dimon, chief executive officer of JPMorgan Chase & Co., during the America Business Forum in Miami, Florida, US, on Thursday, Nov. 6, 2025. Eva Marie Uzcategui | Bloomberg | Getty Images JPMorgan Chase is reducing its exposure to the private credit industry by marking down the value of loans held by the bank as collateral, according to a person with knowledge of the moves. The bank's giant Wall Street trading division has reduced the value of loans — most of which were made to software firms — sitting within the financing portfolios of private credit clients, said the person, who declined to be identified speaking about the client interactions. JPMorgan's move indicates the biggest U.S. bank by assets wants to get ahead of potential turbulence involving private credit loans to software companies. CEO Jamie Dimon , who has guided his bank through multiple crises in his two decades atop JPMorgan, is known to constantly remind his executives about the risk that borrowers won't be able to repay their loans. Software firms have come under scrutiny in recent months as model updates from OpenAI and Anthropic drive concerns that some providers will be disrupted by AI. The worries have ignited a downcycle for private credit players as retail investors yanked funds in recent weeks, driving abnormally high redemptions at firms including Blue Owl and Blackstone . The adjustments were made in JPMorgan's financing business, where private credit firms borrow money to amplify fund returns in what's known as "back-leverage." The business is considered relatively risky because it layers leverage upon leverage — amplifying losses when the underlying loans sour. By marking down the collateral for that leverage, JPMorgan is reducing the ability of private credit firms to borrow against their loans, and in some cases could even force firms to post more collateral. The size of the loans impacted and the extent of th...
RiverNorthPhotography/iStock Unreleased via Getty Images T. Rowe Price Group ( TROW ) on Wednesday said its February month-end assets under management stood at $1.80T, up from $1.79T at the end of last month. Net outflows for February were $5.3B. By asset class, equity had $868B in AUM as of Feb. 28; fixed income, including money market, had $216B in AUM; multi-asset had $660B, while alternatives ...
RiverNorthPhotography/iStock Unreleased via Getty Images T. Rowe Price Group ( TROW ) on Wednesday said its February month-end assets under management stood at $1.80T, up from $1.79T at the end of last month. Net outflows for February were $5.3B. By asset class, equity had $868B in AUM as of Feb. 28; fixed income, including money market, had $216B in AUM; multi-asset had $660B, while alternatives had $59B in AUM. Source: Press Release More on T. Rowe Price T. Rowe Price: Goldman Sachs Partnership Helps This High-Yield Dividend Aristocrat T. Rowe Price Group, Inc. (TROW) Q4 2025 Earnings Call Transcript T. Rowe Price Group, Inc. 2025 Q4 - Results - Earnings Call Presentation T. Rowe Price sees AUM of $1.80 trillion as of January end T. Rowe Price raises quarterly dividend by 2.4% to $1.30/share
Yauhen Akulich U.S. Treasury yields moved higher Wednesday after investors digested the latest inflation data, which largely matched economists’ expectations and prompted a modest selloff in government bonds. The February Consumer Price Index report showed headline inflation rising 0.3% month over month, in line with consensus forecasts. Core CPI, which excludes the more volatile food and energy c...
Yauhen Akulich U.S. Treasury yields moved higher Wednesday after investors digested the latest inflation data, which largely matched economists’ expectations and prompted a modest selloff in government bonds. The February Consumer Price Index report showed headline inflation rising 0.3% month over month, in line with consensus forecasts. Core CPI, which excludes the more volatile food and energy components, increased 0.2% during the month—also matching economists’ projections. The data signaled that price pressures remain relatively stable, reinforcing expectations that inflation is cooling gradually rather than sharply. Following the economic release , Treasury yields rose as investors rotated out of bonds, pushing yields higher across the curve. The interest rate sensitive U.S. 2 Year Treasury yield ( US2Y ) climbed three basis points to 3.62%. Meanwhile, the benchmark U.S. 10 Year Treasury yield ( US10Y ) advanced three basis points to 4.19%, reflecting shifting expectations for economic growth and future Federal Reserve policy. Longer-dated debt also saw upward pressure. The U.S. 30 Year Treasury yield ( US30Y ) rose four basis points to hover near 4.83%. The move suggests investors are recalibrating their outlook for interest rates following the inflation report, with bond markets signaling that policymakers may maintain a cautious stance as they continue to assess the trajectory of price pressures across the U.S. economy. See how yields are trading across the curve on Seeking Alpha’s bond page . Fixed Income ETFs: ( TLT ), ( TLH ), ( IEF ), ( IEI ), ( SHY ), ( SGOV ), ( SCHO ), ( BIL ), ( AGG ), ( BND ), ( VCIT ), ( MUB ), ( MBB ), ( JNK ), ( LQD ), ( HYG ), ( VTIP ), ( TIP ), ( SCHP ), ( STIP ), ( TIPX ), ( SPIP ), ( WIP ), ( GTIP ), ( LQDI ), and ( RINF ). More on markets When will U.S. strikes on Iran end? Prediction markets say a nearly 50% chance by month's end Despite oil's 10% slide, prediction markets are not convinced that the oil rally is over Iran, ...
NguyenDucQuang/iStock Editorial via Getty Images Investment Thesis The market seems overly focused on Qualcomm's ( QCOM ) short-term economics. The company derives the majority of its revenue from mobile handset manufacturers using its components and technology. There are 2 short-term headwinds facing QCOM and one strategic challenge. First, the company is gradually losing Apple's ( AAPL ) model b...
NguyenDucQuang/iStock Editorial via Getty Images Investment Thesis The market seems overly focused on Qualcomm's ( QCOM ) short-term economics. The company derives the majority of its revenue from mobile handset manufacturers using its components and technology. There are 2 short-term headwinds facing QCOM and one strategic challenge. First, the company is gradually losing Apple's ( AAPL ) model business, as the latter is slowly incorporating its own components and tech in new iPhones. Second, global smartphone sales are expected to decline this year on the back of a memory chip shortage. The strategic challenge is manifested in the deteriorating relationship with Arm Holdings ( ARM ). QCOM and ARM have been engaged in a series of disputes that seem to have soured the relationship between the two companies, possibly beyond repair. A trial is set to start next October ( p.13 ), with QCOM alleging that ARM isn't honoring its contract with QCOM, which could potentially impact its diversification initiatives into new sectors such as automotive, IoT, and data centers. Revenue is expected to be roughly flat this fiscal year compared to FY'25, while adjusted EPS is forecast to be down roughly 7%, from 12.03/share to 11.18/share. In my view, there is an opportunity here. QCOM seems undervalued, and its technological leadership gives it a strategic tailwind, which could very well translate into revenue and earnings growth. Recent Performance QCOM's growth has been modest in recent years. The handset industry is mature. The new growth verticals, namely automotive and IoT, are growing nicely, but are too small to move the needle. In Q1'26, consolidated revenue grew by 5%. That's a few percentages above inflation, not particularly making headlines. However, zooming closer, we could see the burgeoning new business lines constituting QCOM's growth strategy. For example, the automotive segment grew by 14% in Q1'26, powered by a series of design wins across many automotive OEMs, in...
NguyenDucQuang/iStock Editorial via Getty Images Investment Thesis The market seems overly focused on Qualcomm's ( QCOM ) short-term economics. The company derives the majority of its revenue from mobile handset manufacturers using its components and technology. There are 2 short-term headwinds facing QCOM and one strategic challenge. First, the company is gradually losing Apple's ( AAPL ) model b...
NguyenDucQuang/iStock Editorial via Getty Images Investment Thesis The market seems overly focused on Qualcomm's ( QCOM ) short-term economics. The company derives the majority of its revenue from mobile handset manufacturers using its components and technology. There are 2 short-term headwinds facing QCOM and one strategic challenge. First, the company is gradually losing Apple's ( AAPL ) model business, as the latter is slowly incorporating its own components and tech in new iPhones. Second, global smartphone sales are expected to decline this year on the back of a memory chip shortage. The strategic challenge is manifested in the deteriorating relationship with Arm Holdings ( ARM ). QCOM and ARM have been engaged in a series of disputes that seem to have soured the relationship between the two companies, possibly beyond repair. A trial is set to start next October ( p.13 ), with QCOM alleging that ARM isn't honoring its contract with QCOM, which could potentially impact its diversification initiatives into new sectors such as automotive, IoT, and data centers. Revenue is expected to be roughly flat this fiscal year compared to FY'25, while adjusted EPS is forecast to be down roughly 7%, from 12.03/share to 11.18/share. In my view, there is an opportunity here. QCOM seems undervalued, and its technological leadership gives it a strategic tailwind, which could very well translate into revenue and earnings growth. Recent Performance QCOM's growth has been modest in recent years. The handset industry is mature. The new growth verticals, namely automotive and IoT, are growing nicely, but are too small to move the needle. In Q1'26, consolidated revenue grew by 5%. That's a few percentages above inflation, not particularly making headlines. However, zooming closer, we could see the burgeoning new business lines constituting QCOM's growth strategy. For example, the automotive segment grew by 14% in Q1'26, powered by a series of design wins across many automotive OEMs, in...