Latest news with #investoroptimism
CNA
8 hours ago
- Business
- CNA
Travel tech firm Navan confidentially files for US IPO
Corporate travel and expense company Navan said on Friday it had confidentially filed for a U.S. initial public offering, as it looks to take advantage of growing investor optimism for new listings after a dry spell. The terms of the offering were not disclosed. The Palo Alto, California-based company, backed by Andreessen Horowitz and Lightspeed among others, raised $304 million in equity and structured debt financing in 2022 and was valued at $9.2 billion at the time, according to the company. Activity in the U.S. IPO market, which started the year on a slower footing, has shown signs of a sustained revival in recent weeks after a couple of fresh flotations received overwhelming investor support. The technology sector has been dominating the U.S. IPO headlines in the recent revival along with finance, with companies such as space and defence tech firm Voyager Technologies and adtech MNTN making stellar debuts. Chime Financial's shares also surged in one of the most hotly anticipated New York debuts of the month, paving the path for public offerings of a few big names like crypto exchange Gemini and fintech firm Klarna later in the year. "We do see the IPO pipeline building, and forecast an active fall (season)," said Matt Kennedy, senior strategist at Renaissance Capital, a provider of IPO-focused research and ETFs. "In addition to the core institutional IPO buyers, who are looking for strong growth, profitability, and reasonable valuations, it's healthy to see traders looking to get in on a hot deal," Kennedy added. Navan, founded in 2015 as TripActions, began as a corporate travel management platform aiming to streamline services offered by traditional players such as American Express and SAP Concur. It later expanded into corporate payments and expense management.
Yahoo
02-06-2025
- Business
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq futures slip as Wall Street kicks off June after bullish May
US stock futures edged lower Sunday evening, as investors turned the page on a bullish May and eyed the month ahead with trade uncertainty lingering. S&P 500 futures (ES=F) were down 0.4%, mirroring a similar drop in futures tied to the Dow Jones Industrial Average (YM=F). Contracts tied to the Nasdaq 100 (NQ=F) also slipped 0.4%. The tepid start to June follows a standout May: The S&P 500 (^GSPC) rallied more than 6% in its best month since November 2023 and best May since 1990. The Nasdaq Composite (^IXIC) soared 9%, and the Dow (^DJI) notched a 4% gain. Tech stocks led the charge, as investor optimism around AI and resilient economic data fueled risk appetite. President Trump's tariff policy remains a focus for Wall Street. Last week, a federal court struck down significant portions of his duties, including sky-high levies on Chinese imports, only for a higher court to temporarily reverse that decision a day later, reinstating the duties while legal proceedings continue. Tensions with China also ratcheted up on Friday, with Trump claiming the country had "totally violated its agreement" with the US. Meanwhile, Elon Musk's role leading DOGE has come to an end as he returns to working at his other companies, most notably Tesla (TSLA), which has been a boon for the stock. Musk's attempts at drastically reshaping the American government through mass layoffs and cuts started with huge impact before fizzling well short of his $2 trillion target. Against this backdrop, all eyes now turn to a critical slate of economic data this week — most notably the May nonfarm payrolls report due Friday, which will offer fresh clues on how trade frictions and interest rate expectations are shaping the broader US economy. Earnings season is almost wrapped, with results from CrowdStrike (CRWD), Broadcom (AVGO), DocuSign (DOCU), and Lululemon (LULU) the main points of interest in a smaller week of reports. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Globe and Mail
27-05-2025
- Business
- Globe and Mail
Market Analysis: May 27th, 2025
Global Markets Canadian Markets Canada's main stock index advanced further on Tuesday, extending gains after reaching a record high in the previous session. The broader market strength came even as commodity prices slumped — oil and gold saw notable declines — and two of the country's major banks reported challenging developments. Scotiabank (Bank of Nova Scotia) disappointed investors by missing profit estimates, primarily due to higher loan loss provisions. TD Bank announced it will cut 2% of its workforce as part of a broader cost-cutting effort. Despite these financial headwinds, investor optimism prevailed, lifting the benchmark TSX index, as cyclical and industrial stocks helped offset weakness in energy and financial sectors. American Markets American equity markets surged more than 2%, rebounding after Friday's off as Traders returned in a risk-on mood, brushing aside recent geopolitical concerns between the U.S. and the European Union. Consumer confidence jumped in May, aided by President Trump's announcement to pause proposed several tariffs — a move interpreted by markets as de-escalatory for global trade tensions. European Markets European markets also rose, supported by gains in defense stocks and a broader wave of positive sentiment. In Germany, consumer sentiment is showing signs of improvement heading into June. However, households remain cautious with spending, suggesting a fragile recovery in domestic demand. Spain warned of a potential slowdown in lending activity, citing tightening credit conditions and elevated economic uncertainty. In the UK, stocks rose on the back of a weaker British pound and taking positive cues from their European counterparts. However, the International Monetary Fund (IMF) issued a cautionary note, warning that U.S. trade tariffs imposed under the Trump administration could negatively impact the UK economy starting next year. Corporate News Autodesk Inc: Berenberg raised its price target to $325 from $299 after strong Q1 2026 results. Bank of Nova Scotia: Q2 profit fell due to weakness in its Canadian banking unit. Net income dropped 31% to C$613M as provisions for credit losses rose 39% to C$1.4B. Loan growth was impacted by economic uncertainty and trade policy shifts. BlackRock Inc: Alongside Mukesh Ambani's Reliance Group, BlackRock received regulatory approval in India to launch Jio BlackRock Asset Management, a 50:50 joint venture focused on digital-first investment products leveraging BlackRock's Aladdin platform. Bunge Global SA: Terminated its 2023 deal to acquire Brazilian soy processor CJ Selecta after failing to secure regulatory approval by the deadline. Cognition Therapeutics Inc: H.C. Wainwright cut the target price from $5 to $3, citing expected equity dilution to fund operations. CoreWeave Inc: Barclays raised its target price from $70 to $100, citing strong long-term potential in generative AI markets. Discovery Silver Corp: Raymond James initiated coverage with an 'Outperform' rating and a C$4 target, highlighting a recent acquisition and strong leadership. Informatica Inc & Salesforce Inc: Informatica is exploring a sale amid renewed takeover interest, with Salesforce reportedly back in talks. The companies previously ended negotiations in April 2024. Moderna Inc: Filed a marketing application with the FDA for an updated COVID-19 vaccine targeting the LP.8.1 strain, which accounts for 70% of U.S. cases. New FDA leadership could increase regulatory scrutiny and costs. Nvidia Corp: Plans to launch a new AI chip for China based on the RTX Pro 6000D architecture at a lower price ($6,500–$8,000) than the restricted H20 model. The new chip will use GDDR7 memory instead of HBM. Southwest Airlines Co: Announced it will begin charging $35 for the first checked bag and $45 for the second, ending its 'bags fly free' policy for most customers. A-List Preferred and premium fare customers retain free baggage benefits. Target Corp: Guggenheim cut its price target from $155 to $115, reflecting ongoing business challenges over the past year. Tesla Inc: April sales in Europe dropped 49% year-over-year despite a rise in electric vehicle sales across the region. The Model Y refresh failed to boost demand amid rising competition and CEO Elon Musk's controversial image. Trump Media & Technology Group: Plans to raise $3 billion to invest in cryptocurrencies, including $2B in equity and $1B in convertible bonds, according to the Financial Times. United Airlines Holdings Inc: Reached a tentative contract agreement with flight attendants, offering 40% financial gains in the first year and including retroactive pay and improved work rules. Venture Global Inc: Received final regulatory clearance to proceed with construction of its CP2 LNG plant in Louisiana, which could become the largest U.S. LNG export facility. Walt Disney Co: Set a Memorial Day weekend box office record with 'Lilo & Stitch' and 'Mission: Impossible' releases, grossing $326.7 million in the U.S. and Canada, surpassing the 2013 record. Yum Brands Inc: KFC will invest £1.49B in the UK and Ireland over five years, opening 500 new outlets and creating 7,000+ jobs. The expansion reflects strong demand in the region's £3.1B fried chicken market.
Bloomberg
12-05-2025
- Business
- Bloomberg
S&P 500 Soars as US, China to Slash Tariffs in 90-Day Reprieve
US stocks rallied Monday, with everything from Big Tech to retail and travel shares advancing after Washington and Beijing agreed to temporarily suspend most tariffs on each other's goods, boosting investor optimism on the global economy and corporate profits. The S&P 500 Index rallied 2.7% as of 9:34 a.m. in New York, on track for its best session since April 9 to put it on course to close above where it stood on April 2, when President Donald Trump first announced his tariff blitz. The Nasdaq 100 Index jumped 3.4%, nearly erasing its year-to-date drop and was on track to re-enter a bull market, with Nvidia Corp., Inc. and Meta Platforms Inc. all rising. Apple Inc., which does much of its manufacturing in China, and Tesla Inc., which generates a substantial portion of its sales in China, both jumped more than 5%.
