Public Markets 8-Hour Briefing
×Market Moves
The S&P 500 dropped 1.2% in its worst week since June, marking its first two-week loss since June. Entrata is working with Goldman Sachs and JPMorgan on an IPO, though its drive for subscribers means slower earnings growth. Paramount Skydance is positioning its $111 billion Warner Bros. deal with an unusual mix of investment-grade and junk-rated debt. Zscaler Founder Jay Chaudhry sees AI as an opportunity, not a threat, despite mixed earnings results. Duolingo faces pressure to double daily active users to 100 million by 2028, accepting slower growth for subscriber gains.
Deals & Corporate Action
Francisco Partners completed a $2.2 billion take-private of Jamf, expanding its portfolio. Blackstone is positioning Liftoff Mobile for an IPO, while Compass partnered with Rocket Companies to expand Redfin visibility. SpaceX is targeting a confidential IPO filing as soon as next month, aiming to compete with tech giants dominating Hollywood. Apple announced a $200 billion share buyback, though its growth trajectory faces scrutiny.
Macro & Policy
The FAA is looking to cut flights at Chicago’s O’Hare International Airport, where United and American Airlines are currently battling for supremacy. Ecuador is eyeing a $4 billion bond sale return. Japan may intervene to buy yen amid speculation, while Wall Street posted its worst month since March amid geopolitics, trade, and AI fears. S&P Analyst sees Paramount’s credit rating strained after the Warner deal, even if debt can be cut later.