Public Markets 8-Hour Briefing
×Market Performance
The S&P 500 fell last week, with the index experiencing its first two-week loss since June. Salesforce anticipates continued revenue growth, despite investor concerns about the impact of AI. Snowflake saw a 30% revenue jump driven by cloud and AI demand.
Earnings & Guidance
Zoom fell on an earnings miss and weak profit guidance. Synopsys met estimates and provided guidance in line with expectations. Salesforce topped quarterly profit estimates. Brookfield reported an 18% earnings drop.
M&A and Deals
Coller Capital agreed to buy $477 million of assets from New Mountain Finance Corp. Oaktree Capital is exploring options for Utmost Group Plc, potentially including a sale or IPO. EG Group will sell French forecourts to Zuber Issa.
Company News
Paramount saw streaming revenue rise, but its TV segment faces headwinds. Urban Outfitters reported strong gains in its Nuuly clothing-rental service. First Solar shares declined due to tariff and demand concerns. Emirates Global is boosting aluminum sales to the US. Amazon was defended by Bof A. John Lewis ditched plans for 10,000 rental homes. Nvidia won't deliver much upside, says Seaport's Goldberg.
Macroeconomic Trends
Government bonds’ shrinking appeal has cost, the New York Fed says. Saudi Arabia and Iran are increasing oil exports amid rising Middle East tensions. US data center construction fell due to delays.
AI and Tech
Software companies will survive the AI wave, according to Sequoia’s Lin. AI Disruption Fears are prompting scrutiny in private markets. Samsung's new Galaxy S26 will focus on AI. Blackbaud says AI tools expand customer spend.
Political and Legal
The US allows Cuba to import Venezuelan oil. Eleven US states urge the DOJ to probe the Netflix-Warner Bros deal. Trump lays out a new rule for Big Tech's AI build-out. Colombia eyes $6.7 billion in pension assets.
Other News
CME halted trading on its flagship metals market. Allianz plans to buy back shares. David Tepper calls for changes at Whirlpool. Revolut wins FCA backing for stablecoin testing. CME halted trading on its flagship metals market.