1 day ago
Regional banks are getting a boost as the AI gold rush spills out beyond Wall Street.
Activity among manufacturers, equipment suppliers, and other large and midsize firms that borrow from regional banks is heating up. That's adding to investor hopes that regional lenders with sizable commercial banking arms have another growth stream, even if they are largely sitting out of the data center financing boom.
The State Street SPDR S&P Regional Banking ETF (KRE) traded near a record high earlier this week. Since the start of the year, it has climbed 17%, outperforming major stock indexes.
Demand for commercial and industrial loans strengthened in the second quarter. A net 16.1% of banks reported higher demand from large and midsize companies, up from 4.8% in the previous quarter, according to the Federal Reserve's senior loan officer survey.
Bank loan officers said increased investment in plants and equipment and greater financing needs for inventories were among the reasons companies were borrowing more.
#regional #banking #midsize #financing
Activity among manufacturers, equipment suppliers, and other large and midsize firms that borrow from regional banks is heating up. That's adding to investor hopes that regional lenders with sizable commercial banking arms have another growth stream, even if they are largely sitting out of the data center financing boom.
The State Street SPDR S&P Regional Banking ETF (KRE) traded near a record high earlier this week. Since the start of the year, it has climbed 17%, outperforming major stock indexes.
Demand for commercial and industrial loans strengthened in the second quarter. A net 16.1% of banks reported higher demand from large and midsize companies, up from 4.8% in the previous quarter, according to the Federal Reserve's senior loan officer survey.
Bank loan officers said increased investment in plants and equipment and greater financing needs for inventories were among the reasons companies were borrowing more.
#regional #banking #midsize #financing
4 days ago
Finding a truck for less than $30,000 is nearly impossible in this market. Ford Motor on Thursday is betting that cash-strapped Americans will sign up to buy its all-new Fathom, an electric midsize pickup with a starting price of $28,350.
The company did not release photos or many details about the Fathom, but said it will be the first vehicle to be produced on its Universal Electric Vehicle Platform.
The truck will come with BlueCruise, Ford's hands-free highway driving ******* istant, and feature bi-directional power capability. There's a "frunk" in addition to the bed for added cargo flexibility and pre-orders start in early 2027. Owners will also be able to access Tesla's vast network of Superchargers for road trips and daily "fill-ups."
Ford's EV portfolio is currently limited to one model: the Mustang Mach-E SUV. In December of 2025, Ford decided to cease production of its full-size F-150 Lightning electric truck. Rave reviews from automotive journalists and the truck's ability to serve as a backup generator were not enough to sway consumers who balked at its high price.
Ford said the F-150 Lightning will eventually return as an EREV [Extended Range Electric Vehicle], meaning the truck's electric powertrain will be paired with a gasoline engine for a maximum range of 700 miles.
#range
The company did not release photos or many details about the Fathom, but said it will be the first vehicle to be produced on its Universal Electric Vehicle Platform.
The truck will come with BlueCruise, Ford's hands-free highway driving ******* istant, and feature bi-directional power capability. There's a "frunk" in addition to the bed for added cargo flexibility and pre-orders start in early 2027. Owners will also be able to access Tesla's vast network of Superchargers for road trips and daily "fill-ups."
Ford's EV portfolio is currently limited to one model: the Mustang Mach-E SUV. In December of 2025, Ford decided to cease production of its full-size F-150 Lightning electric truck. Rave reviews from automotive journalists and the truck's ability to serve as a backup generator were not enough to sway consumers who balked at its high price.
Ford said the F-150 Lightning will eventually return as an EREV [Extended Range Electric Vehicle], meaning the truck's electric powertrain will be paired with a gasoline engine for a maximum range of 700 miles.
#range
5 days ago
End-of-year bonuses for private equity professionals are likely to be higher at larger managers compared to midsized and small buyout shops, as banks' blowout earnings put pressure on PE firms to keep pace on pay, according to projections from compensation consultant Johnson ***** ociates.
Its Q2 year-end projections report, which predicts Wall Street end-of-year bonuses based on recent market trends, said that PE professionals at large buyout shops can expect bonuses anywhere from 2.5% to 7.5% higher than what they received in 2025. That's an improvement over the Q1 outlook of no change up to a 5% increase.
The jump is due, in part, to mounting competition for talent between PE firms and banks, said Alan Johnson, president and founder of Johnson ***** ociates. Private equity firms will likely offer stronger sweeteners to retain talent during a challenging period.
"Banks and private equity compete for talent, and as the banks do better, there's going to be a bit of a drag-on effect to private equity," Johnson said.
Investment banks are having a great year. Goldman Sachs and JPMorganChase both reported strong Q2 results, with Goldman's earnings per share nearly doubling year-over-year to $20.98 and JPMorgan's net income up 41% to $21.2 billion. The surge was driven by an uptick in M&A volume and a handful of mega-transactions, such as the record-breaking ***** eX IPO that Goldman led in June.
#year #johnson #Equity #goldman
Its Q2 year-end projections report, which predicts Wall Street end-of-year bonuses based on recent market trends, said that PE professionals at large buyout shops can expect bonuses anywhere from 2.5% to 7.5% higher than what they received in 2025. That's an improvement over the Q1 outlook of no change up to a 5% increase.
The jump is due, in part, to mounting competition for talent between PE firms and banks, said Alan Johnson, president and founder of Johnson ***** ociates. Private equity firms will likely offer stronger sweeteners to retain talent during a challenging period.
"Banks and private equity compete for talent, and as the banks do better, there's going to be a bit of a drag-on effect to private equity," Johnson said.
Investment banks are having a great year. Goldman Sachs and JPMorganChase both reported strong Q2 results, with Goldman's earnings per share nearly doubling year-over-year to $20.98 and JPMorgan's net income up 41% to $21.2 billion. The surge was driven by an uptick in M&A volume and a handful of mega-transactions, such as the record-breaking ***** eX IPO that Goldman led in June.
#year #johnson #Equity #goldman
14 days ago
A decade ago, Seattle was the poster child of American tech prosperity. Amazon and Microsoft had turned a midsize Pacific Northwest city into a magnet for engineers, executives, and capital, adding roughly 40,000 jobs per year at the peak of the boom, according to the Puget Sound Regional Council.
Today, more than one-third of downtown Seattle's office **** e sits empty, its job postings have collapsed faster than almost any other U.S. metro, and even Starbucks—the coffee giant founded in the city in 1971—is shifting jobs south to Nashville, as it commits to a $100 million, 2,000-person new footprint in Music City. The story of Seattle's reversal unfolds in three overlapping arcs: an office market in free fall, a labor market that has gone from boom to bust, and a policy environment that has made survival harder for the small businesses left behind.
Seattle's downtown office vacancy rate hit 35.6% in the fourth quarter of 2025, up from 32.3% a year earlier, according to Cushman & Wakefield data. That marks a stunning reversal from the pre-pandemic era: As recently as early 2025, the central business district's availability rate—offices with departures pending—and vacancy rate were already hitting all-time highs based on CoStar data stretching back to 1982.
Some brokers put the number even higher, with Colliers reporting vacancy touching 39.1% in late 2024 as remote work, tech layoffs, and cautious leasing decisions compounded. Office building values in the district have plunged sharply as a result, with landlords struggling to fill **** e abandoned by major tenants.
The office crisis is inseparable from a broader collapse in hiring. Seattle metro job postings fell 35% between February 2020 and October 2025, the second-steepest drop of any major U.S. metro after San Francisco's 37% decline, according to Axios's **** ysis of Indeed data.
#city
Today, more than one-third of downtown Seattle's office **** e sits empty, its job postings have collapsed faster than almost any other U.S. metro, and even Starbucks—the coffee giant founded in the city in 1971—is shifting jobs south to Nashville, as it commits to a $100 million, 2,000-person new footprint in Music City. The story of Seattle's reversal unfolds in three overlapping arcs: an office market in free fall, a labor market that has gone from boom to bust, and a policy environment that has made survival harder for the small businesses left behind.
Seattle's downtown office vacancy rate hit 35.6% in the fourth quarter of 2025, up from 32.3% a year earlier, according to Cushman & Wakefield data. That marks a stunning reversal from the pre-pandemic era: As recently as early 2025, the central business district's availability rate—offices with departures pending—and vacancy rate were already hitting all-time highs based on CoStar data stretching back to 1982.
Some brokers put the number even higher, with Colliers reporting vacancy touching 39.1% in late 2024 as remote work, tech layoffs, and cautious leasing decisions compounded. Office building values in the district have plunged sharply as a result, with landlords struggling to fill **** e abandoned by major tenants.
The office crisis is inseparable from a broader collapse in hiring. Seattle metro job postings fell 35% between February 2020 and October 2025, the second-steepest drop of any major U.S. metro after San Francisco's 37% decline, according to Axios's **** ysis of Indeed data.
#city
1 month ago
BILL Holdings, Inc. (NYSE:BILL) is one of the 10 Best Stocks to Buy in Glen Kacher's Light Street Portfolio.
On June 22, 2026, TD Cowen initiated coverage of BILL Holdings, Inc. (NYSE:BILL) with a Buy rating. The firm has set a price target of $43 on the stock. According to TD Cowen's research note, the firm views the company as a leading vendor of accounting management solutions, including accounts payable, accounts receivable, and expense management for small businesses. Pointing out that improving fundamentals and execution warrant multiple expansion, the firm expects a steadier upward momentum for the shares. TD Cowen believes these positive factors will overcome muted investor sentiment following a 40% year-to-date decline.
In contrast, earlier this month, on June 10, 2026, Truist downgraded the rating on BILL Holdings, Inc. (NYSE:BILL) from Buy to Hold. The firm held a price target of $35 on the stock, down from $45. Truist believes that an acquisition of BILL Holdings, Inc. (NYSE:BILL) is increasingly unlikely due to AI-driven uncertainty. The ***** yst notes its positive catalyst path is less clear, with core revenue growth likely to decline to low-teens next year during intensifying competition.
Founded in 2006, BILL Holdings, Inc. (NYSE:BILL) is a leading provider of cloud-based software that automates financial operations for small and midsize businesses (SMEs). Headquartered in California, the company's platform streamlines accounts payable, accounts receivable, and spend management.
While we acknowledge the potential of BILL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
On June 22, 2026, TD Cowen initiated coverage of BILL Holdings, Inc. (NYSE:BILL) with a Buy rating. The firm has set a price target of $43 on the stock. According to TD Cowen's research note, the firm views the company as a leading vendor of accounting management solutions, including accounts payable, accounts receivable, and expense management for small businesses. Pointing out that improving fundamentals and execution warrant multiple expansion, the firm expects a steadier upward momentum for the shares. TD Cowen believes these positive factors will overcome muted investor sentiment following a 40% year-to-date decline.
In contrast, earlier this month, on June 10, 2026, Truist downgraded the rating on BILL Holdings, Inc. (NYSE:BILL) from Buy to Hold. The firm held a price target of $35 on the stock, down from $45. Truist believes that an acquisition of BILL Holdings, Inc. (NYSE:BILL) is increasingly unlikely due to AI-driven uncertainty. The ***** yst notes its positive catalyst path is less clear, with core revenue growth likely to decline to low-teens next year during intensifying competition.
Founded in 2006, BILL Holdings, Inc. (NYSE:BILL) is a leading provider of cloud-based software that automates financial operations for small and midsize businesses (SMEs). Headquartered in California, the company's platform streamlines accounts payable, accounts receivable, and spend management.
While we acknowledge the potential of BILL as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
1 month ago
Shares of Rivian Automotive (NASDAQ: RIVN) jumped on Thursday after the automaker boosted its full-year vehicle delivery target.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Rivian produced 12,613 vehicles and delivered 12,194 in the quarter ended June 30. That was well above the company's forecast of 9,000 to 11,000 vehicle deliveries.
The electric vehicle (EV) manufacturer said the "robust growth" in sales of its battery-powered delivery vans and R1 pickup trucks, combined with the launch of its R2 midsize SUV, drove the gains.
These results and encouraging ongoing sales and production trends prompted Rivian to lift its 2026 full-year delivery target to between 65,000 and 70,000 vehicles, up from a prior estimate of 62,000 to 67,000.
Missed Nvidia in 2009? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia. For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue »
Rivian produced 12,613 vehicles and delivered 12,194 in the quarter ended June 30. That was well above the company's forecast of 9,000 to 11,000 vehicle deliveries.
The electric vehicle (EV) manufacturer said the "robust growth" in sales of its battery-powered delivery vans and R1 pickup trucks, combined with the launch of its R2 midsize SUV, drove the gains.
These results and encouraging ongoing sales and production trends prompted Rivian to lift its 2026 full-year delivery target to between 65,000 and 70,000 vehicles, up from a prior estimate of 62,000 to 67,000.
1 month ago
New signals showing the health of the private credit market emerged in the second quarter of 2026, indicating a changed landscape as lenders and investors alike reassessed their exposure to the alternative ***** et class and once-favored sectors.
The war in Iran stymied hopes for a return of M&A and buyout activity that seemed to be taking shape in late 2025. This development compounded existing negativity for private credit in the wake of a rough start to 2026, after the release of Anthropic's Claude Cowork fueled a global sell-off of publicly traded software and IT companies and raised concerns about business models of software-as-a-service companies.
Matt Harvey, head of middle-market direct lending for PGIM's private capital business, said that prior to the US attack on Iran, reduced uncertainty over tariff policy had led to a burst of direct-lending activity, which amounted to "pent-up demand." For PGIM, Q4 2025 was the firm's busiest quarter on record. PGIM's direct lending business focuses on "real economy" borrowers, such as food and beverage; consumer services that are staples, such as home repairs; value-add industrial services and products, such as distribution logistics; and certain areas of healthcare. The business has little exposure to software. PGIM focuses on midsize companies generating EBITDA of $25-75 million.
"Valuations are starting to become a little more realistic," Harvey said. "Our pipeline has never been fuller on deals ready to go."
Pricing on a typical non-sponsored loan financing is approximately S+500, with 40-50% loan-to-value, 4x leverage, 60% equity, and 1-2 covenants, according to Harvey. This spread is wider than it was a year ago, he said.
The war in Iran stymied hopes for a return of M&A and buyout activity that seemed to be taking shape in late 2025. This development compounded existing negativity for private credit in the wake of a rough start to 2026, after the release of Anthropic's Claude Cowork fueled a global sell-off of publicly traded software and IT companies and raised concerns about business models of software-as-a-service companies.
Matt Harvey, head of middle-market direct lending for PGIM's private capital business, said that prior to the US attack on Iran, reduced uncertainty over tariff policy had led to a burst of direct-lending activity, which amounted to "pent-up demand." For PGIM, Q4 2025 was the firm's busiest quarter on record. PGIM's direct lending business focuses on "real economy" borrowers, such as food and beverage; consumer services that are staples, such as home repairs; value-add industrial services and products, such as distribution logistics; and certain areas of healthcare. The business has little exposure to software. PGIM focuses on midsize companies generating EBITDA of $25-75 million.
"Valuations are starting to become a little more realistic," Harvey said. "Our pipeline has never been fuller on deals ready to go."
Pricing on a typical non-sponsored loan financing is approximately S+500, with 40-50% loan-to-value, 4x leverage, 60% equity, and 1-2 covenants, according to Harvey. This spread is wider than it was a year ago, he said.
2 months ago
Shipping a product people love and running a company that makes money are two different jobs. One earns applause. The other earns a line on the balance sheet, and the two rarely arrive in the same week.
Rivian spent years selling the idea that it could become the next great American carmaker. Its trucks won awards. Its brand built a following most legacy automakers would envy. Amazon (AMZN) placed a large delivery van order and an early equity bet. For a company that has never posted an annual profit, the entire story rested on one promise, that a cheaper, higher volume vehicle would finally turn all that attention into earnings.
That vehicle is the R2, a midsize sport utility vehicle (SUV) built around a promised base price near $45,000 that began reaching buyers in June 2026. It is the most important launch Rivian has ever attempted. Which is what makes the timing of the next move so jarring.
Rivian laid off hundreds of workers on Tuesday, June 16, roughly one week after the first R2 deliveries. The cuts touched less than 2% of its workforce and fell mostly on service and customer teams. Rivian said it had "restructured a handful of teams" as it works to scale the business profitably, according to CNBC.
The size of the cut is small. The signal is not. Rivian employed 15,232 people at the end of last year, so less than 2% works out to up to roughly 300 jobs, according to Electrek.
Rivian spent years selling the idea that it could become the next great American carmaker. Its trucks won awards. Its brand built a following most legacy automakers would envy. Amazon (AMZN) placed a large delivery van order and an early equity bet. For a company that has never posted an annual profit, the entire story rested on one promise, that a cheaper, higher volume vehicle would finally turn all that attention into earnings.
That vehicle is the R2, a midsize sport utility vehicle (SUV) built around a promised base price near $45,000 that began reaching buyers in June 2026. It is the most important launch Rivian has ever attempted. Which is what makes the timing of the next move so jarring.
Rivian laid off hundreds of workers on Tuesday, June 16, roughly one week after the first R2 deliveries. The cuts touched less than 2% of its workforce and fell mostly on service and customer teams. Rivian said it had "restructured a handful of teams" as it works to scale the business profitably, according to CNBC.
The size of the cut is small. The signal is not. Rivian employed 15,232 people at the end of last year, so less than 2% works out to up to roughly 300 jobs, according to Electrek.
