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Morgan Stanley Profit Rises 58% on Trading, Dealmaking Strength
The Wall Street Journal29d agoneutral
Morgan Stanley Profit Rises 58% on Trading, Dealmaking Strength

Morgan Stanley’s profit jumped 58% in the second quarter, echoing bumper results at other big banks from strong trading and dealmaking activity. The report follows a slug of big bank earnings yesterday, which together pointed to how market turmoil and artificial intelligence-driven investment have supercharged Wall Street’s biggest moneymakers. Morgan Stanley’s investment banking revenue increased 58% from the prior year to $2.44 billion.

Blockbuster Stock Sales Are Threatening to Overwhelm the Bull Market
The Wall Street Journal29d agoneutral
Blockbuster Stock Sales Are Threatening to Overwhelm the Bull Market

The rush for cash by some of the world’s largest companies is putting the long bull market at risk. SpaceX’s record $75 billion public offering. Investors have been cheering the raging bull market for years—three years and nine months, to be precise—with the S&P 500 having more than doubled during that period.

SpaceX Fizzles to Close $1 Above IPO Price Weeks After Debut
Bloomberg29d agoneutral
SpaceX Fizzles to Close $1 Above IPO Price Weeks After Debut

(Bloomberg) -- Three days of losses have brought SpaceX shares to the brink of falling below their initial public offering price, a key level that traders and investors watch to assess the health of new issues.Most Read from BloombergUS Hits Iran With Strikes, Blockade as Trump Plans Hormuz ChargeTrump Shelves 20% Fee for Hormuz Cargo After Gulf Pressure'We Faltered': IBM Plunges Most Since at Least 1968 on MissA Cocaine Bust in Spain Leads All the Way to Wall StreetUS CPI Falls for the First Ti

Bloomberg29d agoneutral
SpaceX Fizzles to Close $1 Above IPO Price Weeks After Debut

(Bloomberg) -- Three days of losses have brought SpaceX shares to the brink of falling below their initial public offering price, a key level that traders and investors watch to assess the health of new issues.Most Read from BloombergUS Hits Iran With Strikes, Blockade as Trump Plans Hormuz ChargeTrump Shelves 20% Fee for Hormuz Cargo After Gulf Pressure‘We Faltered’: IBM Plunges Most Since at Least 1968 on MissA Cocaine Bust in Spain Leads All the Way to Wall StreetUS CPI Falls for the First Ti

Bank Bonanza: Heard on the Street Recap
The Wall Street Journal29d agoneutral
Bank Bonanza: Heard on the Street Recap

Five of the nation’s largest lenders—including JPMorgan Chase and Goldman Sachs—reported a 39% jump in combined earnings to over $49 billion, driven by surging Wall Street fees from a widespread “risk-on” environment, the recent SpaceX IPO, and the AI boom.

Wall Street banks see AI 'super cycle' set to boost deals, financing
Reuters30d agoneutral
Wall Street banks see AI 'super cycle' set to boost deals, financing

A rush by technology companies to fund AI infrastructure is boosting dealmaking and financing activity for Wall Street, bankers said on Tuesday, generating lucrative fees from capital ‌raising and loans. Investment banks have reaped strong fees from AI-related deals, including SK Hynix's $26.5 billion ADR offering and SpaceX's ‌record $86 billion initial public offering, as well as debt issuance. "The build-out of AI infrastructure remains in its early stages, and we believe this multi-year investment cycle will continue to drive elevated levels of strategic activity, financing, and capital formation across markets," Goldman Sachs CEO David Solomon said during an earnings call.

Exclusive-Data center firm Switch taps banks for IPO that could value it up to $80 billion, sources say
Reuters30d agoneutral
Exclusive-Data center firm Switch taps banks for IPO that could value it up to $80 billion, sources say

Data center operator Switch has hired investment banks for an initial public offering that could raise up to $10 billion as soon as the fourth ‌quarter, according to two people familiar with the matter, and value the company at close to $80 billion, ‌including debt. Goldman Sachs and JPMorgan Chase have been tapped as lead underwriters for the offering, the people said. The IPO would rank among the largest U.S. stock market debuts in recent years, underscoring investors' appetite for companies benefiting from surging demand for artificial intelligence infrastructure.

Frontier joins airlines betting on Starlink to lure travelers
Reuters30d agoneutral
Frontier joins airlines betting on Starlink to lure travelers

Frontier Airlines said on Tuesday it will launch in-flight Wi-Fi using SpaceX's ‌Starlink satellite internet and start installing it across ‌its fleet in early 2027. The Denver-based airline is the first ultra-low-cost U.S. ​carrier to sign on with Elon Musk's Starlink as the company competes with Amazon's Kuiper for airline customers to provide in-flight Wi-Fi. Frontier's Starlink rollout follows the airline's introduction of first-class seating and loyalty program changes ⁠aimed at winning over higher spenders.

Investment Bankers Are Raking It In
The Wall Street Journal30d agoneutral
Investment Bankers Are Raking It In

The story of the day looks like huge investment banking results across the biggest banks. JPMorgan Chase’s fees from investment banking, which includes advising companies and raising and selling debt and equity, rose 30%.

Bloomberg30d agoneutral
Goldman Blows Past Stock-Trading Records With $7.42 Billion Boon

(Bloomberg) -- Goldman Sachs Group Inc. trounced its own Wall Street stock-trading records, posting $7.42 billion for a quarter that saw indexes rip higher and ongoing market volatility around artificial intelligence and war in the Middle East.Most Read from BloombergUS Hits Iran With Strikes, Blockade as Trump Plans Hormuz ChargeLindsey Graham, Senate Hawk Turned Trump Ally, Dies at 71Trump Embraces Australian Retirement System Backed by Larry FinkOpenAI Engineer’s ‘LOL’ Moment Set Stage for Le

Bloomberg30d agoneutral
JPMorgan Notches Record Profit on $6 Billion Stock-Trading Haul

(Bloomberg) -- JPMorgan Chase & Co. reported its highest quarterly profit ever as stock traders blew past analysts’ estimates and a long-held Visa Inc. stake paid off to the tune of $4.6 billion.Most Read from BloombergUS Hits Iran With Strikes, Blockade as Trump Plans Hormuz ChargeLindsey Graham, Senate Hawk Turned Trump Ally, Dies at 71Trump Embraces Australian Retirement System Backed by Larry FinkOpenAI Engineer’s ‘LOL’ Moment Set Stage for Legal Fight With AppleDisney Exiting Streaming Coul

Citi sends powerful sign to SpaceX investors
TheStreet30d agoneutral
Citi sends powerful sign to SpaceX investors

SpaceX stock is trading at $145.30, about 8% above its $135 IPO price, according to Yahoo Finance at the time of writing. Interestingly, SpaceX stock climbed as high as $225.64 after its $135 IPO, according to Yahoo Finance reporting, indicating a peak post-IPO gain of about 67%, before sharply ...

Elon Musk's startling claim to SpaceX investors
TheStreet31d agoneutral
Elon Musk's startling claim to SpaceX investors

Someone on X (the former Twitter) was criticizing the deal Anthropic struck with SpaceX to use its Colossus data centers. The argument was that handing $45 billion to SpaceX through May 2029 could be a massive unforced error, potentially letting xAI drain Anthropic's token traffic and leaving ...

SpaceX Stock Flirts With New Lows
The Wall Street Journal31d agoneutral
SpaceX Stock Flirts With New Lows

Shares of SpaceX are headed for a new post-IPO low, as they get closer to their offering price of $135. Shares traded as low as $137.68 before recovering a bit to trade above $139, down about 4% on the day.

SpaceX Plans Starship Test Flight After Delay
The Wall Street Journal31d agoneutral
SpaceX Plans Starship Test Flight After Delay

SpaceX plans to launch the newest version of its Starship rocket later this week, after a mishap postponed an earlier planned mission and prompted the Federal Aviation Administration to require an investigation into the issue.