Public Markets 3d Briefing
×Market Performance
The S&P 500 bloomberg.com wavered as Nvidia's earnings failed to stoke the AI trade, with futures posting muted gains after the tech giant's beat failed to add more fuel to a rebound in technology shares. Salesforce investing.com shares dropped amid an underwhelming annual revenue forecast, while Krispy Kreme investing.com surged on an earnings beat and turnaround progress. Nvidia investing.com failed to rally despite what analysts called its "largest, cleanest beat ever," as concerns shifted to AI's destabilizing impact on the broader market.
Corporate Earnings & Deals
Victory Capital wsj.com submitted a bid to acquire Janus Henderson, topping in total value the deal Trian Fund Management and General Catalyst agreed to in December. Equinix bloomberg.com and Canada Pension Plan Investment Board are nearing a $4 billion deal for data center firm at North. CECO Environmental bloomberg.com agreed to a $2.2 billion deal to buy Thermon, entering the thermal solutions market amid booming data center demand. Telecom Italia bloomberg.com proposed a €400 million stock buyback and 1-for-10 reverse split to overhaul its equity profile after selling assets.
Sector Movements
Old-economy stocks are looking pretty good right about now as a basket of capital-intensive stocks rallies while investors flee AI disruption. Software stocks wsj.com faced a $1.6 trillion meltdown as concerns over AI's threat hit shares of companies like Salesforce and Adobe hard. Data center exposure bloomberg.com is proving a saving grace for construction firms pivoting from struggling housing markets to booming data center demand.
Macro & Policy
The European Central Bank reported a third straight annual loss, its worst run on record, as crisis-era policies continue to weigh. HSBC ft.com shares hit record highs as the bank accelerated cost savings and lifted targets under CEO Georges Elhedery's overhaul. UBS investing.com raised its UK gilt supply outlook on slower borrowing, while FTSE 100 investing.com was set to hold close to a new record despite AI fears and uncertainty.
International Markets
South Korea's equity market surged past France to become the ninth-largest in the world, propelled by gains in technology shares riding the global AI boom. Argentina's stocks bloomberg.com were left behind as earnings growth eluded President Milei's market euphoria fizzles amid weak corporate earnings. Nigeria bloomberg.com extended a ban on shea nut exports by a year to boost domestic processing and curb raw commodity shipments.
Commodities & Currencies
Oil supertankers became the hottest commodity with a 600% gain as high shipping costs became a concern for producers and refiners. LPG prices bloomberg.com soared to the highest in almost a year following an outage at a Saudi export terminal, with ships rerouting to the US for supplies. Bonds rallied bloomberg.com as Trump tariffs and stock selloff ignited haven bids, with Treasuries jumping as investors dashed into safety amid fresh trade war uncertainty.
Technology & Innovation
ASICS bloomberg.com COO discussed global growth strategies in Tokyo, while Core Weave bloomberg.com sought an $8.5 billion loan from banks backed by a Meta deal to finance cloud computing capacity. Money Hero bloomberg.com was in talks to be acquired by Bolttech Holdings in a deal combining two fintech firms backed by billionaire Richard Li. Wise Tech investing.com jumped on upbeat HY earnings and AI-driven job cuts in Australia.
Retail & Consumer
Papa John's wsj.com posted lower profit and revenue hurt by weak consumer backdrop and higher promotions. Shake Shack wsj.com reported higher fourth-quarter profit as sales growth and operational improvements maintained margins amid industry headwinds. Gildan wsj.com set lower-than-expected 2026 targets after a soft fourth quarter, tempering lift from its Hanes Brands acquisition.
Defense & Aerospace
Indra Sistemas wsj.com shares jumped nearly 22% to an all-time high after reporting a seven-fold uptick in defense orders driven by Spain's armed forces overhaul. Leonardo Sp A investing.com saw FY25 orders surge on aeronautics strength while debt shrank. Ukraine said its homegrown Flamingo missiles flew nearly 900 miles to strike an Iskander factory deep inside Russia.
Financial Services
TD Bank wsj.com quarterly earnings were lifted by growth across operations in the first three months of its fiscal year. Royal Bank of Canada wsj.com earnings rose in the first quarter despite an elevated credit-loss provision, with growth in wealth management, personal banking, and capital markets. Allianz bloomberg.com CFO said the company would strive for outperformance while announcing a new share buyback program.
Healthcare & Biotech
Novavax investing.com shares remained subdued despite an earnings and revenue beat. Hikma investing.com posted 2025 results in line but saw stock down 17% on a margin warning. Hormel wsj.com posted higher profit and sales amid a turnaround as steps to improve profitability yielded results.
Real Estate & Construction
EG Group ft.com planned to sell French forecourts to billionaire co-founder Zuber Issa as the business he co-founded prepared for a US IPO. Ocado ft.com planned to cut 1,000 jobs and restructure its technology unit, warning earnings from its licensing business would be below expectations. HK luxury home sales bloomberg.com were expected to slow after a stamp duty hike before rebounding in the second half, according to JLL.
Energy & Utilities
Vistra investing.com reported weaker quarterly earnings while offering a 2026 outlook. Transocean finance.yahoo.com CEO discussed rigs, risk, and the energy future amid sector challenges. Russia's crude shipments bloomberg.com scraped a gain to offset pipeline losses as seaborne flows increased to make up for lost piped volumes to Hungary and Slovakia.