AnalytixInsight

Last week, the Dow Jones closed down 0.1%, the S&P 500 rose 0.4%, and the Nasdaq was up 2.15%. Apple is again planning to issue debt to reward its shareholders by buying back its stock and paying dividends, according to a regulatory filing. Meta launched its first ever corporate bond offering on Thursday, without disclosing either the size of the deal or its pricing. SoftBank has raised as much as US$22 billion in cash from deals that would sharply reduce its stake in Alibaba over the coming years. PayPal jumped 14% after the fintech launched a massive US$15 billion stock buyback and received the backing of Elliot Management. Coinbase stock jumped after BlackRock, Instagram platform announcements. Pinterest popped 20% on earnings that weren’t as terrible as expected. Airbnb stock slumped despite record-breaking bookings. DraftKings stock shot up after a narrower-than-expected loss, and revenue that climbed above forecasts. Robinhood lays off 23% of staff, closes two offices in fresh round of cuts. Oracle layoffs have begun, according to reports. Amazon is buying iRobot for US$1.7 billion. Unity Software, the U.S. developer best known for software used to design video games, is in talks to spin off its China unit. Shipments to iPhone assembler Pegatron’s factory in China were being held for scrutiny by Chinese customs officials a day after the company’s senior executive met with U.S. House Speaker Nancy Pelosi. In Canada, CGI announces its intent to repurchase 939,000 shares held by CDPQ. Shopify is making a US$100 million investment in Klaviyo. Semtech confirmed buyout talks with Sierra Wireless. Canalyst is being acquired by Chicago-based Tegus in a massive BC tech exit of $400-500 million. FreshBooks has secured a US$100 million debt facility.

Last week, the Dow Jones was up 3%, the S&P 500 rose 4.3%, and the Nasdaq composite rose 4.7%. Amazon, and Apple stock responded well to earnings last week, while Meta piled onto growing fears that advertising demand is plummeting, posting its first decline in revenue since going public. Shares of Roku tumbled more than 25% in after-hours trading on a miss, and following the company’s projection of only 3% top-line growth for Q3. Spotify stock jumped on strong subscriber growth, and forecasts. Instacart aims to go public before year’s end, defying a frozen IPO market. Eutelsat and OneWeb agree on merger to create European satellite juggernaut. Twitter trial over Elon Musk merger is set to begin Oct. 17, as Elon Musk countersues Twitter over the merger, but details aren’t yet public. Twitter’s ‘mounting’ ad pressures mean the stock could be in mid-teens without support from Musk deal, according to MoffettNathanson. Google has delayed a phase-out of Chrome ad trackers to 2024 as antitrust trials loom. Crypto exchange FTX US expands stock trading, plans options next. Coinbase Global Inc. is facing a US probe into whether it improperly let Americans trade digital assets that should have been registered as securities, according to three people familiar with the matter. The company’s shares dropped as much as 9.2%. The U.S. passes US$52 billion in chip subsidies to boost production, counter China. Solar stocks jump as Senator Joe Manchin reaches a deal with Democrats that includes climate spending. Shares of SunRun and SunPower both jumped as much as 13% while First Solar surged 10% and SolarEdge rallied 6%. Sophic Client UGE (UGE-TSXV, UGEIF-OTC) closed up 7%. In Canada, Converge Technology secured a $500 million loan to continue acquisition spree. Volatus Aerospace announced a prospectus offering. CGI sees ‘Perfect’ deal climate as valuations improve. Clearco, Shopify, and Coinsquare announced layoffs as markets and the economy remains turbulent.