Public Markets 8-Hour Briefing
×Equity Action
Tech stocks slumped 1.9% as AI spending concerns resurfaced, despite Nvidia CEO Jensen Huang dismissing "Saa Spocalypse" fears. The broader market decline saw the Treasury 10-year yield hit a 2025 low. Krispy Kreme shares jumped on improved margins and turnaround progress, while C3.ai was downgraded after a revenue miss deepened its turnaround risks.
Deals & IPOs
Barnes & Noble owner Elliott Management has invited banks to pitch for a potential London IPO of its book retailers. A separate bidding war is unfolding for Janus Henderson after Victory Capital made a cash-and-stock offer to trump an agreed deal with Trian. In restructuring, e Bay will cut 800 jobs.
Sector Spotlight
PayPal faces a critical reinvention phase according to a deep-dive analysis. Salesforce eased AI fears with a strong outlook and a big buyback plan. JPMorgan Chase noted that hyperscaler AI spending is set to exceed the dot-com bubble peak. BP is aggressively expanding U.S. shale drilling, bucking rival caution.
Corporate Moves
State Farm will pay a record $5 billion dividend to auto-insurance customers. Walmart agreed to a $100 million FTC settlement over driver pay allegations. Gildan Activewear sees stronger savings from its Hanes Brands integration and plans to sell the Hanes Australia unit. Puma reported a record €645 million loss as sales slid.