Bloomberg News and Videos — Page 584

Veteran short seller James Chanos says the SpaceX mega IPO is a troubling sign for the broader markets. He says "we're going to shatter" records this year when it comes to IPOs. He speaks to Tom Keene and Scarlet Fu on "Bloomberg Money."

Czech central bank Governor Ales Michl said he sees a stronger argument to raise interest rates in June to contain inflationary pressures. While the global cost pressures from the energy shock may abate, the Czech economy is also facing domestic risks that may require a tightening of monetary conditions, Michl told Bloomberg News in an interview a week before the rate meeting. "I think a June move now a real possibility" Michl said. "The case for a rate hike has strengthened."

SpaceX CEO Elon Musk kicked off a dual-listed Nasdaq bell ringing ceremony in both New York and Texas on Friday, with a livestream event where he addressed SpaceX employees.

Elon Musk said he only gave SpaceX a less than 10% chance of succeeding. He spoke from Starbase, Texas via livestream and addressed SpaceX employees.

On this episode of Stock Movers with Alexis Christoforous: - Adobe (ADBE) shares are on the move as the company reports today. It fell in premarket trading on Friday after the software maker said that CFO Dan Durn would be departing the company June 15. The news comes after the CEO announced he would resign earlier this year. - Lennar (LEN) shares are lower after its forecasts for new orders and deliveries trailed expectations, and as CEO Stuart Miller said the latest quarter was "defined by the same stubborn headwinds that have challenged the housing market for the past several years."  - SpaceX (SPCX) shares are pricing as it debuts today on the NASDAQ. Space stocks are up amid the IPO, including Rocket Labs (RKLB), EchoStar (SATS) and Redwire (RDW).

US consumer sentiment rose in early June for the first time in four months as the University of Michigan's preliminary sentiment index increased to 48.9 in June from a record low 44.8 in May. Joanne Hsu, director of University of Michigan Surveys of Consumers, provides background on the numbers.

Shares of SpaceX appear ready to jump when they start trading on Friday after Elon Musk's company made history with a $75 billion IPO that instantly turned it into one of the biggest public companies in the world. Early indications of buying interest on Nasdaq pointed to a roughly 30% jump from the shares' offering price of $135. The stock is expected to officially start trading later Friday under the ticker SPCX. Campbell Harvey, Professor of Finance at Duke University's Fuqua School of Business, breaks down why the SpaceX IPO could expose major flaws in index construction, passive fund buying and market structure, with a tiny float and accelerated benchmark inclusion set to intensify demand.

US Energy Secretary Chris Wright said roughly 7 million barrels of daily oil and fuel shipments are flowing through the Strait of Hormuz, or about half of the volumes stranded at the start of the Iran war. Wright spoke Friday with Annmarie Hordern during the Bloomberg Energy Security Executive Briefing in Houston.

Stuart Kaiser, head of equity trading strategy at Citi, sees some market friction amid a "broad-based demand for capital" across initial public offerings, secondary stock sales and bonds markets.

Matt Kennedy, Senior IPO Market Strategist at Renaissance Capital, expects SpaceX to more than triple revenue in the next two years. He speaks before SpaceX begins trading for the first time on "Bloomberg Surveillance."