Joby Aviation Raises $1 Billion, Niger Uranium Threatened, US Stock Fundamentals, and Global Market News

EXCERPT: This week, Joby Aviation announced a $1 billion fundraising round, while Niger's capital came perilously close to a uranium stockpile. US stock fundamentals showed mixed results, and Indonesian stocks fell following MSCI's investability concerns. Apollo, Ares, and Zijin Mining made significant moves in the private debt and mining sectors. In other news, SEB reported lending profit, Advantest surged on earnings, IBM posted strong revenue, and Trump's Penn Station renovation faced funding challenges.

CONTENT:

Joby Aviation, an innovative air taxi company, recently announced its intentions to raise $1 billion through the sale of shares and convertible bonds. This capital infusion will help Joby Aviation double its production capacity by 2027 (Source 1). However, the peace and security of nuclear energy production were disrupted when attackers came dangerously close to a uranium stockpile in Niger's capital (Source 2).

The fundamentals of US stocks have been a topic of debate lately, with Citi's Chief Investment Officer, Kate Moore, expressing optimism during an interview on Bloomberg (Source 4). In contrast, US earnings have been underwhelming, with the fewest positive surprises in a year, leading to sharp negative stock reactions (Source 5). Indonesian stocks extended their losses due to investability concerns following MSCI's warning (Source 6).

In the private debt sector, Apollo's credit funds led a $1.6 billion financing to support the merger of Suave Brands Company and Elida Beauty (Source 8). Ares Management also made headlines with its $1.5 billion convertible bond offering as gold prices surged (Source 9). Zijin Mining Group, a leading mining company, is seeking $1.5 billion in convertible bonds to capitalize on the gold market's strong performance (Source 9).

Swedish lender SEB reported a lending profit that met estimates, with fee and commission business helping offset the impact of lower interest rates (Source 10). Advantest Corp. shares jumped as much as 14% after the company beat earnings estimates and raised its forecast (Source 12). IBM reported quarterly sales that topped analysts' estimates, driven by strong growth in its software unit (Source 13).

Trump's administration put Amtrak in charge of overhauling Manhattan's Penn Station, and the organization is seeking funding from New Jersey and New York for the renovation (Source 14). Octopus Energy Group, a UK company, is entering a strategic partnership to build a power trading platform in China (Source 15).

Pictet Wealth Management advised investors to reduce their exposure to US equities as the dollar's slide boosts the appeal of stocks in Europe and other regions (Source 16). RAC, a breakdown cover and car insurance company, is reportedly close to selecting banks to lead its initial public offering in London (Source 17). Nigeria aims to more than double bilateral trade with Turkey to $5 billion through a joint committee (Source 18).

Regenxbio, a gene therapy company, faced a setback when US regulators placed a hold on its clinical trials due to the discovery of a brain tumor in a participant (Source 19). MMC Norilsk Nickel, Russia's top mining company, expects platinum and palladium output to decline this year due to lower ore grades (Source 20).

Sources:

1. Bloomberg, Joby Aviation Seeks to Raise $1 Billion Via Stock, Convertible
2. Bloomberg, Niger Assault Endangers Uranium Sourced From Orano’s Site
3. Trillions, How to Invest in a Company Before It Goes Public
4. Bloomberg, Citi 'Really Constructive' on US Stocks, CIO Kate Moore Says
5. Bloomberg, Weakest Profit Surprises in a Year Spur Punishing Stock Reaction
6. Bloomberg, Indonesian Stocks Extend Fall After MSCI Warns on Investability
7. Bloomberg, Apollo’s Slok Expects US Economy to Grow More Than Expected
8. Bloomberg, Ares Inks $1.6 Billion Private Loan to Support Evermark Deal
9. Bloomberg, Zijin Mining Seeks $1.5 Billion From Convertible Bonds as Gold Surges
10. Bloomberg, SEB Lending Profit Meets Estimates as Fees Offset Low Rates
11. Bloomberg, Advantest’s Nikkei 225 Weight Cut Looms After 15% Rally
12. Bloomberg, Advantest Surges After Raising Forecast on Strong Earnings
13. Bloomberg, IBM Posts Revenue That Tops Estimates on Software Gains
14. Bloomberg, Trump’s Penn Station Revamp Heads for Funding Fight With States
15. Bloomberg, UK’s Octopus Energy to Enter China With Power Trading Platform
16. Bloomberg, Pictet Wealth Says ‘Less US, More of the Rest’ as Dollar Falters
17. Bloomberg, Breakdown Cover Firm RAC Poised to Pick Banks for London IPO
18. Bloomberg, Nigeria Aims to More Than Double Trade With Turkey to $5 Billion
19. Bloomberg, Regenxbio Plummets After Brain Tumor Found in Trial Participant
20. Bloomberg, Russia’s Nornickel Sees Lower Palladium Output as Grades Decline