markets

Nate Becker9/16/25

Trump is suing the NYT for $15 billion, which is way more than the entire company is worth

President Donald Trump says he’s suing The New York Times, alleging defamation and seeking a whopping $15 billion in damages. In case you’re curious, that sum outstrips the entire market cap of the NYT, which was $9.65 billion as of yesterday’s close. It’s multitudes higher than the $540 million of cash on the company’s balance sheet. And it’s roughly equivalent to the Times’ last 28 quarters of revenue combined.

If you’re wondering whether investors think the lawsuit will eventually wind up gutting the Times, it’s worth noting that NYT stock is down 1.8% in early trading, which shaves about $173 million off its market cap.

Thank goodness, because it would be really tough to lose one of the premier game companies in the US that also has a pretty kickass journalism side hustle.

Trump to bring $15 billion defamation and libel lawsuit against The New York Times | CNN Business

Trump to bring $15 billion defamation and libel lawsuit against The New York Times | CNN Business

If you’re wondering whether investors think the lawsuit will eventually wind up gutting the Times, it’s worth noting that NYT stock is down 1.8% in early trading, which shaves about $173 million off its market cap.

Thank goodness, because it would be really tough to lose one of the premier game companies in the US that also has a pretty kickass journalism side hustle.

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General Fusion CEO Greg Twinney spoke with Sherwood News from the Nasdaq during the stock’s first day of trading.

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J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

US job growth falls far short of estimates in June; unemployment rate unexpectedly dips to 4.2%

Job growth was 57,000. Analysts foresaw job growth of 113,000; prediction markets were more optimistic, looking for job growth above 125,000 but below 150,000.

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Meta surges on report it’s starting a cloud business to sell excess AI compute

The story of the hyperscalers in 2026 has largely been “the beatings will continue until the cash flow outlook improves;” this could help change the story for Meta. Or not.

Meta CEO Mark Zuckerberg visits U.S. Capitol for Senate meetings

markets

Paige Oamek6/30/26

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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