M360 Roundup - Volume 90
June 9th - 13th, 2025
Cole LaCour
Rising tensions between Israel and Iran have renewed investor concerns over geopolitical risk, with potential energy supply disruptions looming, though none have occurred yet
The S&P 500 is down 0.37%, the Nasdaq is down 0.80%, and the Dow Industrials is down 1.20% WTD
The 10-Yr U.S. Treasury yield has decreased -0.076% to a current yield of 4.413%, whereas the 30-Yr U.S. Treasury yield decreased -0.081% to a current yield of 4.898%
Crude oil prices increased 13.34% to a current $73.16/bbl while bitcoin decreased 1.23% to a current $104,476.60 coin
Advisers are outsourcing investments to $8 trillion in model portfolios, freeing up time and expanding client services with help from firms like BlackRock and Vanguard [WSJ]
NRG Energy used a late accounting switch to reclassify derivative contracts and mask earnings volatility, complicating investor assessments as its stock surges amid AI-driven energy demand [WSJ]
Despite concerns that America's trade and fiscal deficits will weaken the dollar, the currency's fate is more likely tied to the performance of major tech stocks than to trade imbalances [WSJ]
Apple underwhelmed at its developer conference with modest AI updates, highlighting how its hardware-first model is leaving it behind rivals like Google and Microsoft in the AI race [WSJ]
M&A activity continues to remain mixed
Meta will acquire a 49% stake in enterprise AI data startup Scale AI for $14.8B and will poach its CEO for its 'superintelligence' AI team
Insurance giant Brown & Brown agreed to acquire insurance broker Accession Risk Management for $9.8B in cash and stock
KKR, Brookfield, and French gas supplier Air Liquide are potential bidders for Macquarie-owned South Korean industrial gas firm DIG Airgas, which could fetch a $3.6B valuation
Qualcomm agreed to acquire UK-based semiconductor company Alphawave for $2.4B cash at a 96% premium
Aerospace and defense parts maker Crane agreed to acquire Baker Hughes' precision sensors and instrumentation unit for $1.2B
L'Oreal agreed to acquire a majority stake in UK skincare brand Medik8 from PE firm Inflexion for ~$1.1B
Tencent Music Entertainment will acquire Chinese podcasting platform Ximalaya for $1.3B in cash and newly issued shares amid plans to become China's Spotify
Toyota and Daimler Truck will merge their truck units, Hino Motors and Mitsubishi Fuso, under a new holding company; as part of the deal, Hino will issue shares and transfer its Hamura plant to Toyota for $1B
Recent developments across four key industries highlight:
Energy & Natural Resources
Saudi Arabia is increasing oil production to regain market share and pressure U.S. shale producers, but an all-out price war risks economic pain even as it aligns with President Trump's preference for lower oil prices [WSJ]
U.S. crude-oil inventories fell by 3.6 million barrels—more than double expectations—as refinery activity increased, while gasoline and distillate stocks also rose amid strong demand [WSJ]
Technology, Media, & Telecommunications
A breakup of Intel—separating its chip-design and manufacturing units—may be the best path forward, as it struggles to regain competitiveness and attract customers in a market dominated by TSMC and other specialized chipmakers [WSJ]
Top tech executives from Meta, OpenAI, and Palantir are joining a new Army Reserve innovation corps to advise on AI and modernize military technology, reflecting growing collaboration between Silicon Valley and the Pentagon amid rising competition with China [WSJ]
Healthcare & Life Sciences
Robert F. Kennedy Jr. has appointed eight new members to a key vaccine advisory panel—some with histories of vaccine skepticism—following the dismissal of the previous committee, signaling a shift in how federal vaccine guidance may be evaluated [WSJ]
AstraZeneca has partnered with China’s CSPC Pharmaceuticals in a $5.33 billion AI-driven research deal to develop new oral treatments, expanding its presence in China and gaining global licensing rights to potential drug candidates [WSJ]
Financial Services
JBS, the world’s largest meatpacker, has directly listed on the NYSE to solidify its U.S. presence, despite past corruption and environmental controversies, leveraging strong 2024 profits and majority North American sales to attract a broader base of global investors [WSJ]
Walmart, Amazon, and other major retailers are exploring issuing their own stablecoins to bypass traditional payment systems, potentially saving billions in fees and accelerating transactions—pending regulatory clarity from the proposed Genius Act [WSJ]