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The Abu Dhabi-owned chip manufacturer has filed for a U.S. IPO. It has tailwinds thanks to industry capacity shortages and Western countries’ desire to produce semiconductors at home. But it’s plagued by persistent losses and a reported $25 billion valuation looks a stretch.
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3 minute read A SpaceX Falcon 9 rocket lifts with a batch of broadband network satellites, at the Kennedy Space Center, in Cape Canaveral, Florida, April 22, 2020. REUTERS/Joe Skipper NEW YORK, June 30 (Reuters Breakingviews) - With space startups, the sky is the limit. Momentus, a satellite-transport outfit, shows how quickly the sky can fall. Its revised merger deal with blank-check firm Stable Road Acquisition (SRAC.O) values Momentus at $567 million, half its $1.1 billion worth previously. Stable Road set out in late 2019 to find a merger partner in or adjacent to the cannabis business. I...
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3 minute read An employee carries test tubes inside a laboratory at Piramal's Research Centre in Mumbai, August 11, 2014. REUTERS/Danish Siddiqui NEW YORK, June 28 (Reuters Breakingviews) - Investors can always count on the discovery of a golden nugget to create a rush. Intellia Therapeutics (NTLA.O) delivered the biotechnology version of this on Saturday, proving its technology for clustered regularly interspaced short palindromic repeats, or CRISPR, can target and edit a defective gene in humans. Investors are ready for a boom. Company co-founder Jennifer Doudna won the Nobel Prize last yea...
© Houston Cofield/Bloomberg via Getty Images Berkshire Hathaway, the holding company of legendary investor Warren Buffett, has held its annual shareholder meeting. The event, dubbed “Woodstock for capitalists”, has been happening virtually because of the pandemic . It yielded the usual mixture of folksy commentary and gnomic wisdom. Buffett said that the US economy is “red hot” and Berkshire’s portfolio of businesses “is seeing substantial inflation”. He joked that Charlie Munger, his 97-year-old deputy, will be ageing at just “1% annually” once he hits his centenary. Mung...
Reuters 2 minute read A Peloton exercise bike is seen at the Nasdaq Market site in New York City, September 26, 2019. REUTERS/Shannon Stapleton Concise insights on global finance. ----------------------------------------------- OVERUSE INJURY. Peloton Interactive (PTON.O) has backed away from its fight with the U.S. Consumer Product Safety Commission over treadmills following the death of one child and dozens of injuries. On Wednesday Peloton said it is recalling them and offering refunds. Chief Executive John Foley apologized. Shares tumbled almost 15%. The companyâs valuation from her...