SpaceX is seeking to price an initial public offering at $135 per share, selling 555.6 million shares and raising about $75 billion. The terms were reported by Reuters, citing a person familiar with the matter.
8:39 PMBloomberg Markets8 stories from 3 sources
SpaceX’s IPO ambitions dominate a day of capital market stress
Day’s Recap
Supporting Articles
SpaceX is pressing Wall Street banks to accept unusually low underwriting fees for a potential IPO. Even with thinner rates, the banks could still earn about $500 million because the offering could be exceptionally large.
10:41 AMBloomberg MarketsBrightline is considering debtor-in-possession style bankruptcy-loan proposals from its largest creditors after it failed to attract a buyer by its own recent bidding deadline. The company is still looking for a potential suitor even as it evaluates financing options tied to a potential Chapter 11 process.
11:16 AMBloomberg MarketsEquity analysts are not lifting targets or turning more bullish even as US stocks push to fresh records after a two-month rally. Their caution signals a widening gap between market pricing and sell-side conviction on earnings and valuations.
7:52 AMBloomberg Markets8:39 PMBloomberg Markets
SpaceX Targets $75 Billion in IPO at $135 Per Share
Summary
SpaceX is seeking to price an initial public offering at $135 per share, selling 555.6 million shares and raising about $75 billion. The terms were reported by Reuters, citing a person familiar with the matter.
Why it matters
A $75 billion SpaceX IPO would reshape US IPO calendars, reprice comparable growth assets, and concentrate investor attention and capital in one flagship listing.
10:41 AMBloomberg Markets
SpaceX Seeks IPO Fee Cut From Wall Street Bankers
Summary
SpaceX is pressing Wall Street banks to accept unusually low underwriting fees for a potential IPO. Even with thinner rates, the banks could still earn about $500 million because the offering could be exceptionally large.
Why it matters
A SpaceX fee reset could change how much public companies pay to go public and how banks compete for the biggest listings.
11:16 AMBloomberg Markets
Brightline Fields Bankruptcy-Loan Bids While Hoping for a Suitor
Summary
Brightline is considering debtor-in-possession style bankruptcy-loan proposals from its largest creditors after it failed to attract a buyer by its own recent bidding deadline. The company is still looking for a potential suitor even as it evaluates financing options tied to a potential Chapter 11 process.
Why it matters
A move toward bankruptcy financing signals stress in privately backed infrastructure and can reset who controls a marquee U.S. rail asset and how fast it grows.
7:52 AMBloomberg Markets
Wall Street Analysts Turn Skeptical After Two-Month Stocks Rally
Summary
Equity analysts are not lifting targets or turning more bullish even as US stocks push to fresh records after a two-month rally. Their caution signals a widening gap between market pricing and sell-side conviction on earnings and valuations.
Why it matters
A rally not backed by earnings revisions or higher targets is more vulnerable to a sharp reset when news flow turns.
Other Developments
A curated list of other prominent stories from this day.
Dollar General says its core customers are cutting back on food and household staples as gas prices rise and SNAP benefits fall. Management also says pressure is most acute in rural areas, where shoppers are minimizing trip distance and making sharper trade-offs.
7:20 PMPYMNTSGameStop reported its highest quarterly profit, driven by collectibles such as action figures and trading cards. The stock jumped in after-hours trading on the profit surprise.
5:39 PMBloomberg MarketsUlta raised its full-year profit outlook after reporting 11.1 percent quarterly net sales growth. The company said demand skewed toward higher-priced beauty products as it continues a turnaround plan.
4:47 PMBusiness of FashionTreasury prices rose to around a three-week high as investors positioned ahead of early-week US employment data. Traders are treating the release as pivotal for whether the Fed stays on a path that could justify another rate hike under Chair Kevin Warsh.
5:58 AMBloomberg Markets7:20 PMPYMNTS
Dollar General Attracts All Income Groups as Economic Pressures Mount
Summary
Dollar General says its core customers are cutting back on food and household staples as gas prices rise and SNAP benefits fall. Management also says pressure is most acute in rural areas, where shoppers are minimizing trip distance and making sharper trade-offs.
Why it matters
Trade-down and SNAP-driven pullbacks signal worsening conditions for low-income consumers and reshape the competitive balance across discount and grocery retail.
5:39 PMBloomberg Markets
GameStop Posted Its Highest Profit Ever By Selling Action Figures and Cards
Summary
GameStop reported its highest quarterly profit, driven by collectibles such as action figures and trading cards. The stock jumped in after-hours trading on the profit surprise.
Why it matters
A structurally different revenue mix can stabilize earnings near term, but it also tests whether GameStop has a durable business beyond cyclical gaming sales.
4:47 PMBusiness of Fashion
Ulta Beauty Raises Annual Profit Forecast on Higher-Priced Product Demand
Summary
Ulta raised its full-year profit outlook after reporting 11.1 percent quarterly net sales growth. The company said demand skewed toward higher-priced beauty products as it continues a turnaround plan.
Why it matters
Ulta’s guidance raise suggests premium beauty demand remains resilient, improving expectations for retail margins and brand pricing power in the US consumer backdrop.
5:58 AMBloomberg Markets
Treasuries Pare Gains After Jobs Openings Back Rate-Hike View
Summary
Treasury prices rose to around a three-week high as investors positioned ahead of early-week US employment data. Traders are treating the release as pivotal for whether the Fed stays on a path that could justify another rate hike under Chair Kevin Warsh.
Why it matters
Jobs data can quickly shift rate expectations, moving everything from mortgage rates to equity valuations.
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