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This Tech Billionaire's Net Worth Crossed $300 Billion In April On AI Rally As Elon Musk Stays Richest In The World
Benzinga104d agobullish
This Tech Billionaire's Net Worth Crossed $300 Billion In April On AI Rally As Elon Musk Stays Richest In The World

A surge in AI-driven technology stocks reshaped global billionaire rankings in April, pushing Google co-founder Larry Page into the $300 billion club while keeping Elon Musk at the top of the world's richest list, according to Forbes’ compilation as of 12 a.m. EST on Friday. April was a strong month for markets. The S&P 500 rose 10.4%, its best monthly performance since November 2020, while the Nasdaq climbed 15.3%, marking its strongest gain since April 2020. The rally lifted the combined net w

Kailera IPO And Governance Overhaul Set Terms For NASDAQ Composite Debut
Simply Wall St.104d agoneutral
Kailera IPO And Governance Overhaul Set Terms For NASDAQ Composite Debut

Kailera Therapeutics (NasdaqGS:KLRA) completed its initial public offering, moving from private to public ownership. Alongside the IPO, the company adopted an amended and restated certificate of incorporation and new bylaws that reshape its governance framework. The governance changes include a classified board of directors, authorization of preferred stock, and defined procedures for shareholder actions. Kailera Therapeutics was added to the NASDAQ Composite Index, bringing the stock into a...

S&P 500, Nasdaq end higher, notch weekly gains
Reuters Videos104d agoneutralVIDEO
S&P 500, Nasdaq end higher, notch weekly gains

<body><p>STORY: U.S. stocks ended mostly higher on Friday, with the Dow the only outlier, dipping about three-tenths of a percent, while the S&P 500 gained about three-tenths of a percent and the Nasdaq climbed nine-tenths of a percent.</p><p>Both the S&P 500 and the Nasdaq logged their sixth consecutive week of gains, their longest weekly winning stretches since October of 2024.</p><p>It was a big week for corporate earnings, with five of the Magnificent Seven megacaps&nbsp;reporting.</p><p>Among them, Apple climbed more than 3% on Friday, a day after the tech giant provided a solid sales forecast, touting strong demand for its flagship iPhone 17 and the MacBook Neo.</p><p>Analysts now see overall first-quarter earnings growth of nearly 28% year-over-year, according to LSEG I/B/E/S Estimates.</p><p>That's an 11.7 percentage point increase from where the estimate stood a week ago, and marks the biggest earnings growth since the fourth quarter of 2021.</p><p>Melissa Brown is managing director of investment decision research at SimCorp.</p><p>"I think we're just seeing the continuation of this AI trade and maybe the complete ignoring of some of the other red flags that are out there - higher oil prices leading to higher inflation, you know, many other things that might give investors pause. But we're coming through a good earning season, particularly for some of these tech companies, and investors are, I guess, saying it's still time to buy there."</p><p>Among other movers, shares of Atlassian surged more than 29% after the enterprise software firm hiked its forecast. Peers Salesforce and ServiceNow also gained.</p><p>Shares of Reddit jumped 13% after the social media site gave an upbeat quarterly revenue forecast.</p><p>On the flip side, shares of Roblox tumbled more than 18% after the online game platform cut its annual bookings forecast.&nbsp;</p></body>