The US special envoy to Greenland, the Arctic island coveted by President Donald Trump, said on Wednesday that Washington needs to rebuild its presence in the Danish autonomous territory. At the height of the Cold War, Washington had 17 military facilities in Greenland, but closed them over the years and currently has just one – the Pituffik base in the north of the island. Trump has repeatedly ar...
The US special envoy to Greenland, the Arctic island coveted by President Donald Trump, said on Wednesday that Washington needs to rebuild its presence in the Danish autonomous territory. At the height of the Cold War, Washington had 17 military facilities in Greenland, but closed them over the years and currently has just one – the Pituffik base in the north of the island. Trump has repeatedly argued the US needs to control Greenland because of national security concerns, claiming that if it does not, the island risks falling into the hands of China or Russia. Advertisement Greenland is on the shortest route for missiles between Russia and the United States. It is also believed to have untapped rare earth minerals and could be a vital asset as the polar ice melts and new shipping routes emerge. “I think it’s time for the US to put its footprint back on Greenland,” US envoy Jeff Landry said as he wound up his first visit to the island since his appointment in December 2025. US special envoy to Greenland Jeff Landry (centre) visits Nuuk, Greenland, on Wednesday. Photo: Ritzau Scanpix via AP “I think that you’re seeing the president talk about increasing national security operations and repopulating certain bases in Greenland,” he said.
NEW YORK, May 20 (Reuters) - Elon Musk's rocket and satellite maker SpaceX filed on Wednesday for its widely awaited initial public offering, which stands to raise the most ever in an initial offering. The firm said it has picked the Nasdaq as the trading venue for its blockbuster market debut, confirming what people familiar with the matter told Reuters this month. COMMENTS: DAN IVES, HEAD OF T...
NEW YORK, May 20 (Reuters) - Elon Musk's rocket and satellite maker SpaceX filed on Wednesday for its widely awaited initial public offering, which stands to raise the most ever in an initial offering. The firm said it has picked the Nasdaq as the trading venue for its blockbuster market debut, confirming what people familiar with the matter told Reuters this month. COMMENTS: DAN IVES, HEAD OF TECHNOLOGY RESEARCH AT WEDBUSH SECURITIES, NEW YORK: "SpaceX officially filed its S-1 to go public via IPO under the ticker symbol SPCX representing the largest IPO in stock market history, as the company remains at the center of two of the largest growth opportunities over the coming decades. "We continue to believe that SpaceX and Tesla will eventually merge into one company in 2027 with the groundwork already in place for both operations to become one organization. "Musk wants to own and control more of the AI ecosystem and step by step the holy grail could be combining SpaceX and Tesla in some way to give the connected tissue between both disruptive tech stalwarts looking to lead the AI revolution." DENNIS DICK, PROPRIETARY TRADER, TRIPLE D TRADING, BARRIE, ONTARIO, CANADA: "It's a little scary to come in and say, 'Yeah, let's go invest in a $2 trillion company," hoping that they'll reach the stars. I'll probably trade SpaceX but I don't know that I'd be an investor. "You have to think about what this means for Tesla. Once SpaceX is public, does some of the luster around Tesla start to fade? Now you're going to have another way to play Elon Musk." CAROL SCHLEIF, CHIEF MARKET STRATEGIST, BMO PRIVATE WEALTH, MINNEAPOLIS: "Space in general is attractive to investors. They like optimistic themes and it's another iteration of the importance and sustainability of not just the AI trend, but the technology transformation, because it's robots, it's space. It's advanced manufacturing. Its advances in scientific discovery and drug discovery and medical equipment. It's ...
CEO Jensen Huang says that Nvidia's growth prospects go beyond the massive spending from hyperscalers. Hyperscalers are the massive cloud providers, like Microsoft and Alphabet, that are spending hundreds of billions of dollars on AI. The concern on Wall Street is that eventually these companies will eventually stop spending as much on Nvidia chips.
CEO Jensen Huang says that Nvidia's growth prospects go beyond the massive spending from hyperscalers. Hyperscalers are the massive cloud providers, like Microsoft and Alphabet, that are spending hundreds of billions of dollars on AI. The concern on Wall Street is that eventually these companies will eventually stop spending as much on Nvidia chips.
Advice for 2026 commencement speakers: Don't bring up AI toggle caption University of Central Florida and Middle Tennessee State University via Storyful/Screenshots by NPR Glendale Community College's commencement ceremonies hit a snag just as students were walking across the stage to get their diplomas last week. The wrong names were being read aloud at the ceremony, just outside Phoenix. Some of...
Advice for 2026 commencement speakers: Don't bring up AI toggle caption University of Central Florida and Middle Tennessee State University via Storyful/Screenshots by NPR Glendale Community College's commencement ceremonies hit a snag just as students were walking across the stage to get their diplomas last week. The wrong names were being read aloud at the ceremony, just outside Phoenix. Some of the graduates' names didn't even get read. The college's president, Tiffany Hernandez, tried to explain the problem. "We're using a new AI system as our reader," she said, leading to loud boos from the audience. (In a statement, the college blamed technical issues and said it had apologized to students for the experience.) Other commencement speakers who have brought up the sweeping changes that artificial intelligence is driving are also facing boos from the Class of 2026. Sponsor Message Real estate executive Gloria Caulfield described AI to the graduating class of the University of Central Florida on May 8 as "the next industrial revolution." The boos started almost immediately. "OK, I struck a chord," said Caulfield. Graduating students at Middle Tennessee State University booed when record executive Scott Borschetta told them at their May 9 commencement ceremony, "AI is rewriting production as we sit here." Borschetta responded to the boos with: "Deal with it. Like I said, it's a tool." As the booing continued, he added, "Then do something about it. It's a tool. Make it work for you." Former Google CEO Eric Schmidt was repeatedly booed by University of Arizona graduates at their commencement on May 15, including when he said, "The question is not whether AI will shape the world. It will. The question is whether you will help shape artificial intelligence." ChatGPT was released in 2022, when many of this year's undergraduates were just starting college. Many have embraced AI for good and for ill, whether to build businesses or use it to cheat. But despite – or perhaps ...
Earnings Call Insights: The TJX Companies (TJX) Q1 fiscal 2027 Management View “First quarter sales, profitability and earnings per share were all well above our expectations… Overall comp sales were up an outstanding 6%… With our above planned first quarter sales, we are raising our full year sales and profitability outlook.” (CEO, President & Director Ernie Herrman) “Availability of quality bran...
Earnings Call Insights: The TJX Companies (TJX) Q1 fiscal 2027 Management View “First quarter sales, profitability and earnings per share were all well above our expectations… Overall comp sales were up an outstanding 6%… With our above planned first quarter sales, we are raising our full year sales and profitability outlook.” (CEO, President & Director Ernie Herrman) “Availability of quality branded merchandise continues to be outstanding… the second quarter is off to a good start.” (CEO Herrman) “Pretax profit margin was 12%, up 170 basis points… Gross margin was 31.3%, up 180 basis points… All this led to diluted earnings per share of $1.19, up 29%.” (Senior Executive VP & CFO John Klinger) “We opened our first store in Spain and the customer response was terrific.” (CFO Klinger) “We continue to reinvest in the growth of our business while returning $1.1 billion to shareholders… we have increased our fiscal 2027 share buyback guidance to a range of $2.75 billion to $3 billion.” (CFO Klinger) Outlook “We are planning overall comp sales to increase 2% to 3%… Consolidated sales to be in the range of $15 billion to $15.1 billion… we expect second quarter diluted earnings per share to be in the range of $1.15 to $1.17.” (CFO Klinger) “We now expect overall comp sales growth of 3% to 4%… consolidated sales guidance… $63.2 billion to $63.7 billion… pretax profit margin… 11.9% to 12%… diluted earnings per share… $5.08 to $5.15.” (CFO Klinger) “We did not flow the entire first quarter pretax profit and earnings per share beat to the full year as we are now planning current fuel prices to remain in place for the rest of the year.” (CFO Klinger) Financial Results “Our first quarter consolidated comp sales increased 6%… driven equally by a higher average basket and an increase in customer transactions.” (CFO Klinger) “Gross margin was 31.3%, up 180 basis points… primarily driven by an increase in merchandise margin, a benefit from favorable inventory and fuel hedges and expe...
Nordson (NDSN) came out with quarterly earnings of $2.86 per share, beating the Zacks Consensus Estimate of $2.82 per share. This compares to earnings of $2.42 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +1.54%. A quarter ago, it was expected that this maker of adhesives and industrial coatings would post earnin...
Nordson (NDSN) came out with quarterly earnings of $2.86 per share, beating the Zacks Consensus Estimate of $2.82 per share. This compares to earnings of $2.42 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +1.54%. A quarter ago, it was expected that this maker of adhesives and industrial coatings would post earnings of $2.36 per share when it actually produced earnings of $2.37, delivering a surprise of +0.42%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Nordson, which belongs to the Zacks Manufacturing - General Industrial industry, posted revenues of $740.85 million for the quarter ended April 2026, surpassing the Zacks Consensus Estimate by 1.35%. This compares to year-ago revenues of $682.94 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Nordson shares have added about 13% since the beginning of the year versus the S&P 500's gain of 7.4%. What's Next for Nordson? While Nordson has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings ...
Largest US Electric Grid Gets Approval To Curtail Data Centers During Hot Weather By Ethan Howland of Utility Dive Power plant and transmission owners often take their facilities offline in the spring for maintenance so they are prepared for the summer, PJM noted. The largest US electricity grid operator said it expected power plants totaling more than 40 GW would be offline for planned outages on...
Largest US Electric Grid Gets Approval To Curtail Data Centers During Hot Weather By Ethan Howland of Utility Dive Power plant and transmission owners often take their facilities offline in the spring for maintenance so they are prepared for the summer, PJM noted. The largest US electricity grid operator said it expected power plants totaling more than 40 GW would be offline for planned outages on May 18. An Amazon Web Services data center in Stone Ridge, Va. The PJM Interconnection will be able to curtail data centers and other large loads that have backup generation under an emergency order issued May 18, 2026, by the U.S. Department of Energy “The projected level of generation outages coupled with the forecasted demand raises a significant risk of emergency conditions that could jeopardize electric reliability and public safety,” PJM said. The curtailments would be a last resort before ordering rolling blackouts, according to the DOE’s order, issued under the Federal Power Act’s section 202(c). Only large energy consumers with backup generation would be affected. “The employment of this backup generation is expected to reduce stress on the grid,” the DOE said. “ This will permit orderly, safe, and secure operations during PJM’s hot weather conditions.” Next summer the Eastern seaboard will look like North Korea at night thanks to chatbots pic.twitter.com/NEY97pa1LB — zerohedge (@zerohedge) May 6, 2026 There are significant amounts of backup generation in the United States that have remained largely untapped during grid emergencies, according to the DOE. “Deployment of backup generation resources (whether auxiliary, standby, directly-connected, battery storage or other, and whether synchronized or not to the bulk power system) at data centers (including, but not limited to, hyperscaler facilities), and at other large load industrial and commercial customer sites, can prevent avoidable blackouts, thereby saving lives and reducing costs to the American people,” the ...
Image source: The Motley Fool. Wednesday, May 20, 2026 at 4:30 p.m. ET Call participants Chief Executive Officer — Yu-Hsin Lin Chief Financial Officer — Hao-Yuan Chuang Chief Medical Advisor — Hendrik Scholl Need a quote from a Motley Fool analyst? Email [email protected] Takeaways Initiation of NDA rolling submission -- The NDA rolling submission for Tinlarebant in Stargardt disease was initiated...
Image source: The Motley Fool. Wednesday, May 20, 2026 at 4:30 p.m. ET Call participants Chief Executive Officer — Yu-Hsin Lin Chief Financial Officer — Hao-Yuan Chuang Chief Medical Advisor — Hendrik Scholl Need a quote from a Motley Fool analyst? Email [email protected] Takeaways Initiation of NDA rolling submission -- The NDA rolling submission for Tinlarebant in Stargardt disease was initiated in April and is expected to be completed in the second quarter. -- The NDA rolling submission for Tinlarebant in Stargardt disease was initiated in April and is expected to be completed in the second quarter. Commercial infrastructure -- All commercial leadership positions have been filled, with team buildout in sales, market access, and medical affairs underway as the company prepares for a commercial launch. -- All commercial leadership positions have been filled, with team buildout in sales, market access, and medical affairs underway as the company prepares for a commercial launch. Phase 2/3 Dragon 2 trial completion -- Enrollment for the Dragon 2 Stargardt disease study was completed, consisting of 73 subjects aged 12-20 across Japan, the United States, and the UK, intended to support regulatory submission in Japan. -- Enrollment for the Dragon 2 Stargardt disease study was completed, consisting of 73 subjects aged 12-20 across Japan, the United States, and the UK, intended to support regulatory submission in Japan. Research and development expenses -- GAAP R&D expenses rose to $15.7 million from $9.4 million, driven by higher Dragon 2 trial spending, additional manufacturing outlays, and increased consulting fees. -- GAAP R&D expenses rose to $15.7 million from $9.4 million, driven by higher Dragon 2 trial spending, additional manufacturing outlays, and increased consulting fees. SG&A expenses -- GAAP SG&A expenses increased to $17.0 million, up from $6.1 million, primarily from higher share-based compensation, professional service fees, and expanded payroll costs du...
Scion Group CEO Rob Bronstein said that his team is targeting real estate around universities that represent a 'strong return on investment' in terms of tuition, as his company announces a deal with Ares Management to but $910M in student housing properties. Bronstein, joined by Bloomberg's Norah Mulinda, said that his investment is aimed at providing a wide net of locations and price points in th...
Scion Group CEO Rob Bronstein said that his team is targeting real estate around universities that represent a 'strong return on investment' in terms of tuition, as his company announces a deal with Ares Management to but $910M in student housing properties. Bronstein, joined by Bloomberg's Norah Mulinda, said that his investment is aimed at providing a wide net of locations and price points in the student housing market. (Source: Bloomberg)
Goldman Sachs is soaring after securing a key role in SpaceX's historic IPO. Elon Musk 's rocket company has selected the bank for the record-setting public debut, according to a prospectus filed on Wednesday. The deal is a financial windfall that positions Goldman's dealmaking division to potentially win lead roles in other major IPOs expected in the near future, including OpenAI and Anthropic. "...
Goldman Sachs is soaring after securing a key role in SpaceX's historic IPO. Elon Musk 's rocket company has selected the bank for the record-setting public debut, according to a prospectus filed on Wednesday. The deal is a financial windfall that positions Goldman's dealmaking division to potentially win lead roles in other major IPOs expected in the near future, including OpenAI and Anthropic. "This is a huge win for Goldman Sachs and a verification that this Investing Club stock is in pole position for all the big ones," Jim Cramer said. Shares of Goldman rose nearly 6% on Wednesday. SpaceX's IPO is expected to be the largest ever, following a recent acquisition that valued the company at $1.25 trillion . In the highly coveted "lead left" position on the IPO prospectus, Goldman will likely spearhead the ultimate share allocation, pricing, and valuation — and reap the biggest share of the associated fees. Goldman Sachs declined CNBC's request for comment. "It's going to be a big source of revenue," said Jay Ritter, a University of Florida professor known as "Mr. IPO" for his extensive industry research, adding that Goldman will share the proceeds with the other syndicate members: Morgan Stanley , Bank of America , Citigroup , and JPMorgan . Executing a deal of this size can be tricky, according to Matt Kennedy, a senior IPO strategist at Renaissance Capital. "Pricing IPOs is often more art than science. The relationships that the bank has, the reputation of its equity research team, the ability to place the IPO with institutions, price the deal appropriately, and handle any post IPO trading," he said, adding: "It can be hard to do." It also stands to be very lucrative. SpaceX's IPO is expected to be at least double the size of Alibaba's $25 billion IPO in 2014, sources told CNBC's Leslie Picker. The Chinese e-commerce company paid $300.4 million in underwriting commissions to banks, roughly 1.2% of the total deal. Other massive IPOs, such as Facebook parent Meta P...
Never miss an episode. Follow The Big Take daily podcast today. For months, Democrats and Republicans have been locked in a fierce battle over the way districts are drawn across the US. As both parties try to gain an edge ahead of midterms in November, efforts to redistrict could reshape Congress in the final two years of Trump’s second term — and regional economies for decades to come. On today’s...
Never miss an episode. Follow The Big Take daily podcast today. For months, Democrats and Republicans have been locked in a fierce battle over the way districts are drawn across the US. As both parties try to gain an edge ahead of midterms in November, efforts to redistrict could reshape Congress in the final two years of Trump’s second term — and regional economies for decades to come. On today’s Big Take podcast, guest host Stacey Vanek Smith hears from Virginia Democratic Representative Don Beyer, economist Julianne Malveaux and Bloomberg’s Greg Giroux about how the race to redistrict America could affect everything from representation to economics. Read more: What the Virginia Court Ruling Means for Democrats We have a special Bloomberg subscription offer for podcast listeners at Bloomberg.com/podcastoffer. Listen and follow The Big Take on Apple Podcasts , Spotify or wherever you get your podcasts. Terminal clients: Visit NSUB to subscribe. This episode was produced by: David Fox; Editors: Aaron Edwards; Fact-checker: Laura Newcombe; Sound Design/Engineer: Alex Sugiura; Senior Producer: Naomi Shavin; Senior Editor: Elisabeth Ponsot; Deputy Executive Producer: Julia Weaver; Executive Producer: Nicole Beemsterboer.
The top US securities regulator is delaying the launch of a wave of novel exchange-traded funds that would let investors wager on events such as elections and economic data as the agency weighs how far the $15 trillion ETF wrapper can stretch. Securities and Exchange Commission Chairman Paul Atkins said Wednesday that he has instructed staff to seek public input on proposed products that raise new...
The top US securities regulator is delaying the launch of a wave of novel exchange-traded funds that would let investors wager on events such as elections and economic data as the agency weighs how far the $15 trillion ETF wrapper can stretch. Securities and Exchange Commission Chairman Paul Atkins said Wednesday that he has instructed staff to seek public input on proposed products that raise new regulatory questions. He noted that fund sponsors have agreed to delay several ETFs tied to prediction market contracts while the commission deliberates. “Novel products raise novel questions, and I appreciate the willingness fund sponsors have shown in delaying the effectiveness of a number of novel ETFs, including event contract ETFs, while we consider the implications,” he wrote in a statement. Polymarket and Kalshi, the two dominant prediction markets, offer financial contracts that allow users to place yes-or-no bets on the outcomes of various events, including sports, elections and pop culture. Both platforms still require dedicated accounts and specialized on-ramps, limiting their reach. An ETF wrapper would drop political event contracts into standard brokerage accounts. Earlier this year, Roundhill Investments submitted paperwork for six funds that would have their value tied to event contracts on presidential, Senate and House races. GraniteShares submitted similar offerings while Bitwise Investments proposed a broader slate under the PredictionShares brand. Beyond politics, Bitwise’s filings included products tied to macroeconomic outcomes, including contracts on whether the US will enter a recession in 2026 and whether layoffs in 2026 will be higher or lower than in 2025. Read more: Wall Street Wants to Bring Election Bets Into Brokerage Accounts The ETF industry has steadily absorbed strategies once considered too exotic for a fund wrapper — from volatility futures to spot Bitcoin. Prediction market ETFs are the latest frontier. The new delay is notable given ...
Thousands of Mississippians, along with allies from other southern states, gathered at the state’s War Memorial Building auditorium on Wednesday in support of voting rights. It was the latest in a series of actions protesting the supreme court’s recent decision gutting the provision of the Voting Rights Act preventing racial discrimination, and held on a site integral to the state’s history of Bla...
Thousands of Mississippians, along with allies from other southern states, gathered at the state’s War Memorial Building auditorium on Wednesday in support of voting rights. It was the latest in a series of actions protesting the supreme court’s recent decision gutting the provision of the Voting Rights Act preventing racial discrimination, and held on a site integral to the state’s history of Black disenfranchisement. Section 2 “stopped states, counties, cities, from passing redistricting maps that discriminate against Black voters and it led to the biggest growth of Black political power since Reconstruction”, said Amir Badat, the southern states director at the voting rights group Fair Fight Action. “And now, the Roberts court has opened the door to the biggest destruction of Black political power since the end of Reconstruction.” The rally was led by a coalition of organizations, including People’s Advocacy Institute, Mississippi Votes, Mississippi Poor People’s Campaign, One Voice, Fair Fight, Mississippi for a Just World and NAACP, among them. It followed the “All Roads Lead to the South” rally in Montgomery, Alabama, over the weekend. Since the supreme court decision in Louisiana v Callais, southern states have scrambled to redraw their congressional districts and dilute Black political power in the process. Florida’s Republicans signed a new map shortly after the supreme court decision came down. Republicans in Tennessee eliminated the state’s one Black congressional district and Alabama, Louisiana, South Carolina and Georgia are all moving in turn. Mississippi, whose population is nearly 40% Black, was initially set to enter the redistricting battlefield, with Tate Reeves, the state’s governor, calling a special session to be held on 20 May. Reeves since reversed his decision, though he said he expects the state to redraw maps before elections in 2027. In 1890, following Reconstruction, white supremacist Mississippi legislators met at the Old Capitol – next...
Nvidia (NVDA) came out with quarterly earnings of $1.87 per share, beating the Zacks Consensus Estimate of $1.77 per share. This compares to earnings of $0.81 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +5.78%. A quarter ago, it was expected that this maker of graphics chips for gaming and artificial intelligenc...
Nvidia (NVDA) came out with quarterly earnings of $1.87 per share, beating the Zacks Consensus Estimate of $1.77 per share. This compares to earnings of $0.81 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +5.78%. A quarter ago, it was expected that this maker of graphics chips for gaming and artificial intelligence would post earnings of $1.52 per share when it actually produced earnings of $1.62, delivering a surprise of +6.58%. Over the last four quarters, the company has surpassed consensus EPS estimates four times. Nvidia, which belongs to the Zacks Semiconductor - General industry, posted revenues of $81.62 billion for the quarter ended April 2026, surpassing the Zacks Consensus Estimate by 3.63%. This compares to year-ago revenues of $44.06 billion. The company has topped consensus revenue estimates four times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Nvidia shares have added about 18.3% since the beginning of the year versus the S&P 500's gain of 7.4%. What's Next for Nvidia? While Nvidia has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnin...