Past due and bankruptcy documents on a wooden table
Banking

Parker files Chapter 7 after Avalara deal collapse; $58m equity wiped

The e-commerce credit card startup shut down on 4 May after acquisition talks with tax-software firm Avalara collapsed. The Chapter 7 filing lists $50m to $100m in both assets and liabilities.

Naomi Voss4 min read

Latest

Cerebras Systems stock ticker display at Nasdaq MarketSite
Stocks

Cerebras Surges 68% in Nasdaq Debut After $5.55 Billion IPO

Cerebras Systems closed at $311.07 after surging 68% in its Nasdaq debut, raising $5.55 billion in the largest US tech IPO since Uber.

Avery Lin
TSMC semiconductor chip fabrication facility
Stocks

TSMC (TSM) posts 58% profit jump as AI chip orders push Q1 revenue to NT$1.13tn record

TSMC posted net income of NT$572.48 billion, a 58.3% year-on-year surge, as AI chip demand drove revenue to a fourth consecutive record.

Avery Lin
Michael Burry and MercadoLibre stock chart
Stocks

Burry buys MercadoLibre in the $1,600s after post-earnings drop

Michael Burry bought a full position in MercadoLibre after the stock fell 13% on a Q1 margin miss, betting his IV15 framework will prove right over a 15-year horizon.

Avery Lin
Person holding a smartphone and credit card for an online payment, representing digital finance and fintech
Banking

Affirm Targets Bank Charter With $350M Nevada Capital Pledge

Affirm outlined plans at its 12 May investor forum to inject $350 million into a Nevada-chartered industrial bank, aiming to lower funding costs and recapture fees paid to partner banks. The move puts the buy-now-pay-later firm at the centre of a growing push by fintechs to secure ILC charters.

Naomi Voss
CFTC headquarters building with agency seal
Regulation

CFTC Issues Blanket No-Action Letter on Prediction Market Data Reporting

The CFTC issued Letter No. 26-14 on Tuesday, granting 19 prediction market platforms — including Polymarket US and Kalshi — relief from swap data reporting obligations, as the agency presses its jurisdictional claim against five state-level gambling regulators.

Tomás Iglesias
Modern glass facade of urban office building under clear blue sky
Deals

Real Brokerage acquires RE/MAX for $880M in stock-and-cash deal

The Real Brokerage agreed to acquire RE/MAX Holdings for $880 million, forming a combined real estate platform with 180,000+ agents across 120-plus countries.

Naomi Voss
US Treasury Department facade with columns and American flag at dusk in Washington DC
Regulation

SEC, CFTC align on six enforcement fronts

SEC and CFTC launched coordination across six regulatory fronts to eliminate duplicative enforcement, CFTC Chair Michael Selig said.

Tomás Iglesias
Cisco Systems headquarters in San Jose, California
Stocks

Cisco (CSCO) surges 17% on Q3 beat as AI orders double to $9bn

Cisco shares jumped 17% in extended trading after the networking giant beat Q3 estimates, raised its AI infrastructure orders forecast to $9bn from $5bn, and unveiled a $1bn restructuring that will cut nearly 4,000 positions.

Avery Lin
Aerial view of a brightly lit industrial refinery at night in Rosemount, MN.
Commodities

PDBC Commodity ETF Surges 50% on Crude's Run to 98th Percentile

The Invesco PDBC commodity ETF has returned 50% over twelve months as crude oil climbed to the 98th percentile of its historical range. The rally, concentrated in energy futures, raises the question of whether the gains can hold.

Reza Najjar