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Maybe investors can wait to buy SpaceX after IPO: Lee Munson
Yahoo Finance Video126d agobullishVIDEO
Maybe investors can wait to buy SpaceX after IPO: Lee Munson

Elon Musk's private space operator, SpaceX (SPAX.PVT), released its S-1 filing this week as it plans to go public via IPO in June. The Wall Street Journal has reported that AI developer OpenAI (OPAI.PVT) is preparing to file for its own mega-IPO. As investors anticipate this mega-IPO, should they be equally cautious as they are bullish on these companies ? Portfolio Wealth Advisors president and CIO Lee Munson, Yahoo Finance Markets and Data Editor Jared Blikre, and Senior Business Reporter Ines Ferré weigh in on the wave of upcoming IPOs.

BofA’s Hartnett Warns Mega-IPOs Risk Bubble Like Roaring ‘20s
Bloomberg126d agoneutral
BofA’s Hartnett Warns Mega-IPOs Risk Bubble Like Roaring ‘20s

(Bloomberg) -- Mega IPOs like those eyed by SpaceX and OpenAI threaten to push the weighting of tech in equity benchmarks beyond market-bubble levels of concentration, according to Bank of America Corp. strategist Michael Hartnett.Most Read from BloombergBungie Plans Layoffs After Ending ‘Destiny 2’ DevelopmentSpot the Difference: Putin Gets Trump Treatment From Xi in ChinaIran Says the US’s Latest Proposal Has ‘Narrowed the Gaps’Iran in Talks With Oman Over Permanent Hormuz Toll SystemModi’s To

Texas sues Meta, WhatsApp over encryption privacy
Reuters Videos126d agoneutralVIDEO
Texas sues Meta, WhatsApp over encryption privacy

<body><p>STORY: Texas is suing WhatsApp and parent firm Meta.</p><p>The state says they misled consumers over the messaging app’s encryption and privacy standards.</p><p>In a statement Thursday, Texas Attorney General Ken Paxton said “WhatsApp markets its services as secure and encrypted, but it does not deliver on those promises”.</p><p>The lawsuit says users are given false assurance that their messages are encrypted, even though Meta and WhatsApp have access to “virtually all” private communications on the app.</p><p>A Meta spokesman called the allegations “false”, and said that WhatsApp cannot access people’s encrypted messages.</p><p>The suit seeks a court order barring access to Texans’ communications without their consent.</p><p>It also demands monetary penalties.</p><p>The legal action cites reports about a federal probe into claims that Meta had access to unencrypted WhatsApp messages.</p><p>It also refers to a whistleblower report to U.S. financial watchdogs.</p><p>Paxton’s office has previously filed similar claims against big companies, including one against Google.</p><p>Last year the search giant agreed to pay $1.375 billion to settle claims that it violated users’ data privacy.</p></body>

Texas sues Meta, WhatsApp over encryption privacy claims
Reuters127d agoneutral
Texas sues Meta, WhatsApp over encryption privacy claims

The Texas Attorney General’s Office on Thursday sued WhatsApp and its parent company Meta ‌Platforms Inc alleging they misled consumers about the strength and ‌scope of WhatsApp's encryption measures, which a Meta spokesman denied. The lawsuit in Harrison County ​court says WhatsApp and Meta falsely assure users that WhatsApp messages are encrypted despite having access to “virtually all” private communications on the messaging app. “WhatsApp markets its services as secure and encrypted, but it does not ‌deliver on those promises,” ⁠Texas Attorney General Ken Paxton said in a statement.

Bloomberg127d agobearish
Intuit Suffers Worst Plunge Since 2003 After Announcing Job Cuts

(Bloomberg) -- Intuit Inc. suffered its worst stock decline in more than two decades after announcing plans to cut about 17% of its staff and reporting slower TurboTax sales than anticipated.Most Read from BloombergSpot the Difference: Putin Gets Trump Treatment From Xi in ChinaIran Says the US’s Latest Proposal Has ‘Narrowed the Gaps’Modi’s Toffee Gift to Meloni Ignites Rally in Wrong Indian StockIran in Talks With Oman Over Permanent Hormuz Toll SystemDow Average Climbs to Record on US-Iran De

Bloomberg127d agobearish
Intuit Suffers Worst Plunge Since 2003 After Announcing Job Cuts

(Bloomberg) -- Intuit Inc. suffered its worst stock decline in more than two decades after announcing plans to cut about 17% of its staff and reporting slower TurboTax sales than anticipated.Most Read from BloombergSpot the Difference: Putin Gets Trump Treatment From Xi in ChinaIran Says the US's Latest Proposal Has 'Narrowed the Gaps'Modi's Toffee Gift to Meloni Ignites Rally in Wrong Indian StockIran in Talks With Oman Over Permanent Hormuz Toll SystemDow Average Climbs to Record on US-Iran De

Bloomberg127d agobearish
Intuit Suffers Worst Plunge Since 2003 After Announcing Job Cuts

(Bloomberg) -- Intuit Inc. suffered its worst stock decline in more than two decades after announcing plans to cut about 17% of its staff and reporting slower TurboTax sales than anticipated.Most Read from BloombergSpot the Difference: Putin Gets Trump Treatment From Xi in ChinaIran Says the US’s Latest Proposal Has ‘Narrowed the Gaps’Modi’s Toffee Gift to Meloni Ignites Rally in Wrong Indian StockIran in Talks With Oman Over Permanent Hormuz Toll SystemDow Average Climbs to Record on US-Iran De

Meta settles first US case over school costs tied to youth mental health, court filing shows
Reuters127d agoneutral
Meta settles first US case over school costs tied to youth mental health, court filing shows

Meta Platforms on Thursday settled the first case set for trial seeking to make social media companies cover the costs that school districts say they have incurred to combat ‌a mental health crisis allegedly fueled by platforms. The agreement fully resolves a lawsuit brought by Breathitt County School District ‌in eastern Kentucky, following earlier settlements by co-defendants Alphabet's YouTube, Snap and TikTok. The case had been scheduled for a June 15 trial in federal court ​in Oakland, California.

Bloomberg127d agoneutral
Big Tech’s AI Debt Binge Tests High-Grade Market, Barclays Says

(Bloomberg) -- The biggest tech companies are borrowing more than expected to fund their spending on data centers and other artificial intelligence infrastructure, and the investment-grade bond market won’t be able to accommodate all of their financing needs.Most Read from BloombergSpot the Difference: Putin Gets Trump Treatment From Xi in ChinaModi’s Toffee Gift to Meloni Ignites Rally in Wrong Indian StockIran Says the US’s Latest Proposal Has ‘Narrowed the Gaps’Goldman CEO Slides Into Musk’s

Microsoft Is Market’s Biggest Drag as AI Woes Weigh Down Stock
Bloomberg127d agoneutral
Microsoft Is Market’s Biggest Drag as AI Woes Weigh Down Stock

(Bloomberg) -- The S&P 500 Index has had a fitful 2026 as it aims for a fourth-straight year of double-digit percentage gains, something it hasn’t done since the 1990s, while contending with risks from the war in Iran and rising inflation. Most Read from BloombergSpot the Difference: Putin Gets Trump Treatment From Xi in ChinaModi’s Toffee Gift to Meloni Ignites Rally in Wrong Indian StockIran Threatens to Retaliate Beyond Middle East If US AttacksGoldman CEO Slides Into Musk’s DMs During Bid to

Major takeaways from Magnificent Seven's AI-fueled earnings
Reuters127d agoneutral
Major takeaways from Magnificent Seven's AI-fueled earnings

The latest quarterly earnings from Big Tech companies have given investors ample reason to stay invested in the AI trade, helping lift equities despite the unprecedented disruption in ‌the oil markets that has clouded the economic growth outlook. Nvidia rounded out the results from the so-called ‌Magnificent Seven that includes Alphabet, Apple, Microsoft, Amazon.com, Meta Platforms and Tesla. Revenue ​growth at the Magnificent Seven remains highly uneven, with Nvidia's blistering pace helping maintain its dominant lead.

Google, Meta, TikTok face EU consumer complaints about handling of financial scams
Reuters127d agoneutral
Google, Meta, TikTok face EU consumer complaints about handling of financial scams

Alphabet's Google, Meta Platforms and TikTok were hit with complaints from European Union consumer groups ‌on Thursday for allegedly failing to protect users from financial scams ‌on their platforms. The move highlights growing pressure worldwide on Big Tech to do more to address ​the negative impacts of social media, particularly for children and vulnerable users. The complaints, filed by the European Consumer Organisation (BEUC) and 29 of its members in 27 European countries, were submitted to the European Commission and national regulators under the Digital Services ‌Act, which requires large ⁠online platforms to do more to tackle illegal and harmful content.

China's Manus founders seek $1 billion to undo Meta takeover, Bloomberg News reports
Reuters127d agoneutral
China's Manus founders seek $1 billion to undo Meta takeover, Bloomberg News reports

Manus co-founders are weighing ways to comply with China's order to unwind Meta's $2 billion-plus acquisition ‌of the AI startup, Bloomberg News reported on ‌Thursday. Founders Xiao Hong, Ji Yichao and Zhang Tao are exploring options, including raising ​about $1 billion from external investors to buy their way back, the report said citing people familiar with the matter. They are discussing a funding round that would value the company ‌at a level to ⁠match what Meta paid to buy Singapore-based Manus, the report added.

Manus Weighs Raising $1 Billion to Unwind Meta Takeover
Bloomberg127d agoneutral
Manus Weighs Raising $1 Billion to Unwind Meta Takeover

(Bloomberg) -- The co-founders of Manus are exploring options to fulfill Beijing’s demand to unwind a controversial takeover by Meta Platforms Inc., including raising about $1 billion from external investors to buy back the Chinese-founded AI operation. Most Read from BloombergSpot the Difference: Putin Gets Trump Treatment From Xi in ChinaModi’s Toffee Gift to Meloni Ignites Rally in Wrong Indian StockIran Threatens to Retaliate Beyond Middle East If US AttacksNvidia Tells Skeptical Investors A

Circular AI Boom Goes Global as Asia Windfall Funds Hyperscalers
Bloomberg127d agobearish
Circular AI Boom Goes Global as Asia Windfall Funds Hyperscalers

(Bloomberg) -- The windfall earned by Asian chip makers is coursing through the world economy, mirroring on a global scale the circular flow of money within the AI ecosystem.Most Read from BloombergSpot the Difference: Putin Gets Trump Treatment From Xi in ChinaModi’s Toffee Gift to Meloni Ignites Rally in Wrong Indian StockSpaceX Shows $4.3 Billion Loss as Musk Targets Record IPOIran Threatens to Retaliate Beyond Middle East If US AttacksNvidia Tells Skeptical Investors AI Is Ready to Go Mainst

US energy storage additions hit a first-quarter record, report shows
Reuters127d agoneutral
US energy storage additions hit a first-quarter record, report shows

U.S. energy storage developers installed 9.7 gigawatt-hours of new capacity in the first quarter of 2026, marking a record ‌high for the quarter, an industry report showed on Thursday. Energy storage ‌capacity grew 32% in the quarter from a year ago despite federal actions the industry ​says are slowing clean energy development, the report by the Solar Energy Industries Association (SEIA) and Benchmark Mineral Intelligence said. The SEIA said the demand is being driven by data centers, volatile electricity prices and disruptions to global gas and gas ‌turbine supplies.

The Real Winner of SpaceX’s IPO: Mark Zuckerberg
24/7 Wall St.128d agoneutral
The Real Winner of SpaceX’s IPO: Mark Zuckerberg

Wall Street has spent the last six months questioning Mark Zuckerberg’s aggressive AI capital spending, with Meta Platforms (NASDAQ:META) raising its 2026 capex guidance to $125 to $145 billion after a Q1 in which revenue grew 33% year over year. While everyone debates whether Meta is overspending, a quieter filing from SpaceX just laid out ... The Real Winner of SpaceX’s IPO: Mark Zuckerberg

Zuckerberg says he feels 'weight' of Meta layoffs
AFP128d agobearish
Zuckerberg says he feels 'weight' of Meta layoffs

Meta began laying off roughly 8,000 employees Wednesday -- about 10 percent of its global workforce -- as co-founder and Chief Executive Mark Zuckerberg pushes to redirect resources toward an ambitious artificial intelligence agenda.In a memo to staff Wednesday, posted by Business Insider, Zuckerberg expressed thanks to departing employees and sought to reassure those remaining.

SpaceX’s Expected Moonshot Valuation
The Wall Street Journal128d agoneutral
SpaceX’s Expected Moonshot Valuation

SpaceX, which is expected to target a valuation of more than $1.5 trillion at IPO, has a financial picture that is notably worse than any other mega-cap U.S. company. Meta, valued in the same range SpaceX is targeting, had sales 11 times that last year and profits of $60 billion. SpaceX, if ultimately valued at $1.5 trillion, would be valued at 80 times sales.