Track the evolution of major financial and economic events
Babcock & Wilcox reported a Q1 loss of $0.60 per share, significantly exceeding FactSet estimates of a $0.03 loss per share. This substantial widening of the loss reflects financial challenges the company is facing during this period.
On May 13, Commonwealth Bank of Australia shares fell by 9% after the bank set aside an additional A$200 million in provisions for risks associated with the Middle East conflict. Investors also reacted negatively to housing tax changes introduced in the federal government's budget.
Nintendo shares plunged sharply after full-year operating income forecasts missed Bloomberg consensus estimates. The company warned that memory prices and tariffs could impact the business by about 100 billion yen ($640 million). Additionally, fourth-quarter operating income was 59.72 billion yen, falling short of the estimated 74.78 billion yen.
On May 13, Circle raised $222 million in an Arc token presale at a $3 billion valuation, with support from BlackRock, Apollo, and a16z. The company reported a 20% revenue growth in Q1, with revenues reaching $694 million and USDC transactions soaring by 262% year-over-year. Circle's shares jumped over 4% in premarket trading following the release of a positive earnings report.
On May 13, the Dallas Fed models indicated that a potential war with Iran could drive oil prices up to $167 per barrel. The analysis suggests that a three-quarter oil shock could elevate core inflation and reshape sector outlooks.
On May 13, Norges Bank raised its policy rate to 4.25 percent, according to Governor Ida Wolden Bache. This decision is part of the tightening monetary policy cycle being implemented by the bank.
Lincoln Educational Services reported earnings of $0.14 per share, significantly beating the analyst consensus estimate of $0.04. The company's revenue jumped 22.5% to $143.96 million compared to $117.51 million in the previous year. The total student population rose by 17.6% driven by strong employer demand for skilled trades. Additionally, the company announced the launch of its initial public offering roadshow, which includes 21,049,988 shares of Class A common stock, with an expected offering price between $18.00 and $20.00 per share.
The Ontario Securities Commission issued a cease trade order against Canada Carbon for failing to file its audited annual financial statements for 2025. Consequently, the TSX Venture Exchange suspended trading in the Company's securities.
On May 13, U.S. pharmaceutical giant Bristol-Myers Squibb entered into a strategic partnership and licensing deal with major Chinese drugmaker Hengrui Pharmaceuticals. The deal could be worth more than $15 billion in total value.
On May 13, oral VK2735 demonstrated up to 12.2% mean weight reduction from baseline at Week 13 in Phase 2 trials. This announcement led to a gain in shares for Viking Therapeutics.
On May 13, Fortinet reported a 32% EPS beat in Q1 FY2026, resulting in a 25% surge in its stock. The company also raised its full-year guidance, supported by its vertically integrated hardware-software model and strong profitability.
The U.S. Senate confirmed Kevin Warsh's nomination to the Federal Reserve Board of Governors on May 12. He was also confirmed as Fed Chair in a party-line vote on May 13, signaling significant challenges ahead due to a Fed committee skeptical of the rate cuts demanded by President Trump. The vote was the most divisive in the history of Fed chair confirmations, and April's inflation spike leaves Warsh with no excuses not to raise rates.
China's factory inflation hit a 45-month high in May, driven by a significant shock in energy prices. Car sales in China fell by 21.5% in April, with internal combustion engine sales declining by over 30%. Additionally, the producer price index rose by 6.0% year-on-year, signaling the end of a nearly four-year deflationary cycle.
The conflict with Iran is impacting U.S. inflation outlook, with inflation rising to 3.8% due to surging energy costs. On May 13, U.S. Treasury bond yields reached 5%, prompting investors to ditch government debt. Additionally, Goldman Sachs has delayed its Fed cut outlook to December 2026 as the war drives U.S. inflation.
Russia recorded 11 technical defaults in 2024, 24 in 2025, and 11 in the first three months of 2026. Reports indicate that a quarter of the Russian bond market is currently at risk of default.
On May 9, Block reported strong Q1 results, beating non-GAAP EPS and revenue expectations, with adjusted EBITDA exceeding $1B for the first time. Cash App's primary banking actives grew 18% YoY to 9.7M, with inflows per active rising by 10%. However, the company posted a sharp net income loss tied to layoffs despite the operational beat.
The April jobs report indicated that hiring in the United States is growing at its strongest pace in over a year. However, white-collar sectors continue to lose workers, with AI potentially contributing to the decline in these roles.
India, the fastest-growing major economy, is facing economic pressures due to rising energy prices from the Iran war, causing the rupee to hit an all-time low. Investors heavily sold Indian assets, and gold prices surged following an increase in import duties. Prime Minister Modi urged citizens to adopt measures to conserve foreign exchange, including limiting travel and working from home.
On May 7, IREN signed a 5-year, $3.4 billion AI Cloud contract to deploy NVIDIA Blackwell GPUs within its existing data centers. IREN also granted NVIDIA a 5-year right to purchase up to 30 million shares at an exercise price of $70 per share. The company is targeting $3.7 billion in Annual Recurring Revenue (ARR) by the end of calendar year 2026.
TG Therapeutics stock surged after H.C. Wainwright raised its price target to $70, indicating a potential upside of 76.1%. On the same day, the company reported Q1 2026 revenues of approximately $205 million, driven by BRIUMVI sales. TG Therapeutics also raised its full-year global revenue target to approximately $925 million.
On May 6, President Trump announced plans to raise tariffs on cars imported from the European Union, highlighting the limited protection offered by existing trade deals. On May 8, Trump set a July 4 ultimatum for the EU to meet trade deal terms. On May 9, Trump threatened that all passenger vehicle imports from the European Union would face a 25% tariff starting next week.
On May 6, Anavex Life Sciences' Board of Directors appointed Terrie Kellmeyer, PhD, as Interim Chief Executive Officer. This appointment follows the resignation of former CEO Christopher Missling on April 30, 2026, after a request for his resignation from the Board.
On May 6, 2026, the four largest U.S. self-storage REITs released their financial results for the first quarter. National Storage Affiliates Trust announced a merger agreement with Public Storage valued at approximately $10.5 billion. Reports indicated stabilized performance and modest growth with improving rental rates despite elevated operating costs.
The yield on the 30-year U.S. Treasury bond is nearing the 5% threshold due to rising inflation expectations and real interest rates. On May 5, former Treasury Secretary Steven Mnuchin stated that there is no 'break-the-glass' solution if the U.S. cannot finance its debt.
