M360 Roundup - Volume 83
April 21st - 25th, 2025
Cole LaCour
Equity markets are rebounding, with the S&P 500 up over 3% amid hopes of easing trade tensions, though volatility may continue as negotiations unfold
The S&P 500 is up 3.38%, the Nasdaq is up 4.67%, and the Dow Industrials is up 0.88% WTD
The 10-Yr U.S. Treasury yield has decreased -0.024% to a current yield of 4.311%, whereas the 30-Yr U.S. Treasury yield decreased -0.036% to a current yield of 4.773%
Crude oil prices increased 0.14% to a current $63.13/bbl while bitcoin increased 9.85% to a current $93,547.44/coin
IBM has gained investor interest with $6 billion in AI contracts but must prove its long-term AI strength amid competition and economic challenges [WSJ]
April is shaping up to be the most volatile month for stocks since 2020, as investors react sharply to shifting signals from Trump on the Fed and China trade, fueling dramatic market swings [WSJ]
In 2024, the 19 richest U.S. households gained $1 trillion in wealth—more than Switzerland's entire economy—raising their share of total U.S. household wealth to a record 1.8%, highlighting the accelerating concentration of wealth among America's ultra-rich [WSJ]
U.S. megabanks dominate global financial services with a $130 billion trade surplus, but rising trade tensions and shifting client sentiments threaten their international growth, even as global diversification remains key to their long-term strategy [WSJ]
Trump’s push to reduce the trade deficit and revive U.S. manufacturing through tariffs could disrupt capital inflows, leading to higher borrowing costs, weaker stock prices, and a potential economic squeeze [WSJ]
M&A activity continues to remain mixed
Helvetia agreed to merge with Baloise in a ~$22B stock deal to form Switzerland's second-biggest insurance group
Thoma Bravo agreed to acquire Boeing's flight navigation unit Jeppesen and other digital assets for $10.6B cash
Hellman & Friedman-backed Baker Tilly and Moss Adams will merge in a $7B deal to create America's sixth-largest accounting firm
Business man James Cameron offered $5B to acquire Kazakh rare earths mining giant Eurasian Resources Group
Japanese investment bank Nomura agreed to acquire Australian financial services firm Macquarie's US and European public investments unit for $1.8B cash
PE firm Investindustrial Advisors agreed to acquire UK sales and marketing provider DCC's healthcare division for $1.4B
Novagold Resources and billionaire John Paulson are purchasing Barrick Gold's 50% stake in the Alaskan Donlin Gold project for $1B
KKR offered to acquire Swedish biotech Biotage for $1.2B
Fast food chain Jack in the Box is exploring a sale of Del Taco, the chain it acquired for $585M in 2022, at a potential $200M valuation
Apollo is forming a JV with Bullrock Energy Ventures and invest up to $220M to develop community solar projects
Recent developments across four key industries highlight U.S. crude inventories rising, AI revolution transforming industries, and gold surging
Energy & Natural Resources
U.S. crude oil inventories rose slightly by 244,000 barrels last week—marking a fourth consecutive increase—amid higher net imports and rising refinery utilization, while gasoline and distillate stocks saw larger-than-expected declines due to increased demand [WSJ]
Woodside Energy is evaluating the impact of new U.S. tariffs on its Louisiana LNG project—one of its largest investments—while seeking to reduce risk by selling a 40% stake to Stonepeak and exploring further equity partnerships amid ongoing global energy demand [WSJ]
Big oil firms like Chevron and BP are offshoring engineering jobs to India to cut costs, slashing thousands of U.S. positions in the process [WSJ]
Technology, Media, & Telecommunications
The AI revolution is transforming industries as fast as the internet once did, with major players racing to build infrastructure, compete on models, and capture global users [WSJ]
The EU fined Apple €500 million and Meta €200 million for violating its Digital Markets Act, escalating tensions with the Trump administration amid ongoing U.S.-EU trade talks, as both tech giants plan to appeal the penalties and regulatory orders [WSJ]
Top consulting firms offered up to $20B in contract cuts after Trump officials demanded deeper savings or threatened to rebid deals [WSJ]
Healthcare & Life Sciences
Merck raised Q1 profits on strong Keytruda sales but cut its 2025 earnings outlook due to new tariffs and weak Chinese demand for Gardasil, which dropped 41% [WSJ]
Roche beat Q1 sales estimates with strong demand for key drugs and is investing $50 billion to expand U.S. manufacturing and avoid tariffs, while maintaining full-year growth guidance [WSJ]
New FDA Commissioner Marty Makary is signaling support for biotech innovation with faster drug approvals and reduced industry influence, easing investor fears stoked by HHS chief Robert F. Kennedy Jr. and boosting confidence in the sector [WSJ]
Financial Services
While gold has surged as a safe haven, history suggests silver—up 23% this year—may soon follow, offering investors a more economically sensitive alternative with both industrial and precious metal appeal [WSJ]
$TRUMP coin jumped after announcing a gala with Trump for top holders, sparking conflict-of-interest concerns as affiliates hold 80% and have made millions [WSJ]