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SoFi Acquires PrimaryBid Tech to Boost Retail IPO Access Amid Market Revival
SoFi Technologies acquires PrimaryBid's technology to deepen retail investor access to IPOs and capital raises, capitalizing on a resurgent US IPO market.
Plug Power Revenue Beats Estimates, But Path to Profitability Remains Steep
Plug Power's Q1 revenue beat estimates at $163.5 million, but a $245.3 million loss and ongoing cost-cutting efforts highlight the challenges ahead as it targets positive EBITDAS by year-end.
Musk in Beijing: Tesla's FSD Ambitions Face China Regulatory Hurdle
Elon Musk visits Beijing with Trump's business delegation to secure approval for Tesla's Full Self-Driving system in China. Shares closed nearly flat at $445.13.
Snap Shares Dip on Downgrade Amid Ad Revenue Struggles
Snap shares fell 6% after a downgrade, as Q1 ad revenue growth slowed to 3% and Q2 outlook disappointed.
Citadel's Hong Kong Quant Shakeup Spurs Rival Firms to Reassess Data and Talent Hubs
Citadel shifts quant researchers from Hong Kong to Singapore or Miami after a relocate-or-leave ultimatum, sparking industry debate over data security and talent strategy.
Cisco Surge Drives Dow Toward 50,000 as AI Stocks Rally
The Dow Jones Industrial Average climbed 198 points to 49,891, nearing 50,000, as Cisco surged 17% on AI demand and a revenue forecast hike. The S&P 500 and Nasdaq hit intraday records, boosted by Nvidia and other AI stocks.
Wall Street Hits New Highs as AI Optimism Overrides Inflation Data
The S&P 500 and Nasdaq hit new intraday highs on Thursday, led by Nvidia and Cisco, despite April retail sales rising 0.5% and jobless claims increasing to 211,000.
IREN Shares Surge After $2.6B Convertible Debt Sale Backs Nvidia AI Push
IREN shares climbed 4.7% to $57.75 after pricing $2.6B in convertible notes, supporting its AI cloud expansion via a Nvidia partnership. JPMorgan raised its price target to $46 but kept an Underweight rating.
Redwire Surges on Record Backlog, Defense Shift
Redwire shares surged nearly 14% after posting a 57.9% revenue jump and a record $498.1 million backlog, while reaffirming its 2026 sales target.
Biogen Completes Apellis Takeover, Ending Nasdaq Listing
Biogen closed its $5.3 billion acquisition of Apellis Pharmaceuticals, making Apellis a wholly owned subsidiary and ending its Nasdaq listing.
Intel Stock Slides as AMD and Arm Gain Server CPU Market Share
Intel shares fell 3.9% as UBS data shows server CPU market share dropped to 54.9% in Q1, with AMD and Arm gaining ground.
Devon Completes Coterra Merger, Igniting Shale M&A Surge
Devon Energy completed its all-stock merger with Coterra Energy, ending CTRA trading on the NYSE. The $25B deal pushed US upstream M&A to a two-year high, with Devon targeting $1B in annual synergies and launching an $8B buyback.