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Indictment ties Nvidia chips to a $2.5B China smuggling scheme via Super Micro
20 days ago•Source: MarketWatch
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24.93 min•1 month ago
Trump’s $20B reinsurance plan for Hormuz tankers faces questions of sufficiency
Trump unveiled up to $20 billion in U.S. Development Finance Corporation-backed reinsurance to help oil tankers navigate the Strait of Hormuz amid Iran-related conflict, covering hull, machinery and cargo for qualifying vessels. Analysts doubt the size and scope will be enough to unlock passage or calm markets, noting only a subset of ships would be insured, current traffic through Hormuz is about eight ships per day (roughly 94% below normal), and JP Morgan warns storage-tightening disruptions could force multi‑million-barrel-per-day production cuts as global oil flow remains vulnerable. Investors remain skeptical until clearer eligibility rules are announced and broader drone/war risks are mitigated.
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BitGo Opens 2026 with a Hot IPO Amid Crypto Market Slump
BitGo Holdings opened its NYSE debut about 25% higher after pricing 11.8 million shares at $18, valuing the company around $2.08 billion; the IPO raised roughly $198.5 million with Goldman Sachs and Citigroup leading the deal. BitGo, which provides wallets, validation, trading and custody for digital assets, arrived as the crypto market showed weakness (bitcoin trading below $90,000), signaling robust investor appetite for crypto infrastructure despite broader uncertainty. BitGo also stated it has regulatory approval to convert BitGo Trust Co. to a federally chartered bank for digital assets, underscoring regulatory clarity as Kraken and others eye IPOs.
United rides loyalty to another earnings beat and optimistic 2026 outlook
United Airlines beat expectations for the 14th straight quarter as premium-fare revenue rose 9% and loyalty revenue climbed 10% in Q4, helping the company lift its 2026 guidance to the high end of forecasts. Management cited loyalty as a key driver of momentum, even as about $250 million in Q4 charges related to the government shutdown weighed on results. The strength in corporate travel and the loyalty strategy supported a positive earnings trajectory, and United’s shares rose in after-hours trading.
Kraft Heinz slides after Berkshire hints at near-full stake exit
Berkshire Hathaway could sell up to about 325.4 million Kraft Heinz shares (roughly 27% of the company), prompting Kraft Heinz stock to fall in after-hours trading as the company moves to unwind its 2015 merger and split into two public entities.
Corporate travel rebound powers United’s earnings outlook
Upticks in corporate travel are lifting United Airlines’ holiday-quarter revenue prospects as the carrier prepares to report results, with Citi noting a meaningful early-2026 rebound in business travel that could benefit United and its peers.
Defense Dept backs L3Harris with $1B for pre-IPO missile-motors unit
The Defense Department invested $1 billion in L3Harris via convertible preferred securities that will convert into common stock in an IPO planned for the second half of 2026, creating a majority-owned missile-solutions unit with the government as an anchor investor but no board seats. The move aims to expand U.S. missile capacity, and L3Harris stock rose toward record closes amid a broader defense-focused rally, though congressional approval could be required for the government stake.
Lockheed Martin Shares Drop Amid Earnings Miss and Profit Decline
Lockheed Martin's stock dropped over 7% after reporting a significant profit miss and $1.6 billion in losses related to its legacy defense programs, compounded by challenges in its classified aeronautics projects and revised earnings outlook for 2025.