Trending Market News

Etsy's stock surged 18% following the announcement that eBay will acquire Depop, Etsy's secondhand clothing marketplace, for approximately $1.2 billion in cash. The deal allows Etsy to divest a non-core asset while eBay expands its presence in the resale fashion market.

• eBay is paying approximately $1.2 billion in cash for Depop, a secondhand clothing marketplace
• Etsy shares jumped 18% on the news, indicating strong investor approval of the divestiture
• The acquisition allows eBay to strengthen its position in the growing secondhand fashion segment

EBay projected first-quarter revenue of $3 billion to $3.05 billion, significantly exceeding Wall Street's estimate of $2.80 billion. The stronger-than-expected forecast reflects the company's strategic focus on specialty categories including luxury goods and auto parts. Additionally, eBay announced plans to acquire fashion marketplace Depop from Etsy for nearly $1.2 billion in cash.

• Q1 revenue forecast of $3 billion to $3.05 billion beats analyst estimates of $2.80 billion by approximately 9%
• Company's focus on specialty categories like luxury goods and auto parts is helping it navigate challenging e-commerce market conditions
• eBay to acquire consumer-to-consumer fashion platform Depop from Etsy for approximately $1.2 billion in cash

Figma projected 2026 annual revenue of $1.36-$1.37 billion, exceeding Wall Street's $1.29 billion estimate, sending its shares higher. The design software company is leveraging AI capabilities to differentiate itself from competitor Adobe while expanding its user base. Fourth-quarter revenue of $303.8 million also beat analyst expectations of $293.2 million.

• Q4 revenue reached $303.8 million, surpassing estimates of $293.2 million, with adjusted earnings of 8 cents per share
• First-quarter 2026 revenue guidance of $315-$317 million significantly exceeds analyst expectations of $291.9 million
• Fourth-quarter operating expenses nearly tripled, largely due to accelerated stock-based compensation calculations following the company's July IPO

Morgan Stanley opened accounts for Jeffrey Epstein's trusts between 2015 and 2019, years after his 2008 sex offense conviction and during a period when other major banks were severing ties with him. Documents released by the U.S. Justice Department show the bank closed one account in 2017 but opened another in 2019, which was quickly shut down. The revelations add Morgan Stanley to the list of Wall Street institutions facing scrutiny over their relationships with the disgraced financier.

• Morgan Stanley opened an Epstein trust account in March 2019, two years after its risk officers had closed another Epstein account in 2017 and notified him of terminating their relationship
• The 2019 account opening occurred after years of heightened media scrutiny, including a 2016 lawsuit against Ghislaine Maxwell and investigative reporting by the Miami Herald in 2018
• Other major banks had already distanced themselves: JPMorgan terminated its relationship with Epstein in 2013, and Deutsche Bank notified him of account closures in December 2018

Australia's Telstra Group reported a 9.4% increase in half-year profit to A$1.12 billion ($788 million) for the six months ended December 31. The telecommunications company's growth was driven by steady mobile business performance and successful cost-cutting initiatives that improved its bottom line.

• Profit attributable rose to A$1.12 billion from A$1.03 billion in the same period last year
• Mobile business provided steady contributions supporting overall profit growth
• Cost-cutting initiatives were a key factor in boosting the company's profitability

Nestle is reviewing options to scale back its ice cream business, potentially reducing its stake in Froneri, a joint venture with PAI Partners valued at 15 billion euros. The Swiss food giant may also consider selling some remaining wholly-owned ice cream operations to the venture, though no final decision has been made.

• Froneri, which makes Haagen-Dazs and Rowntree's ice cream brands, was valued at 15 billion euros ($17.69 billion) in October following investment from Goldman Sachs and Abu Dhabi Investment Authority
• PAI Partners could increase its stake in Froneri if Nestle reduces its ownership in the joint venture
• The move comes as Froneri competes with Unilever's newly spun-off Magnum Ice Cream Company, which became a standalone business in a long-awaited separation

Goldman Sachs CEO David Solomon emphasized the critical need for a rule-based regulatory framework for cryptocurrency in the U.S., stating that those who expect to operate without rules should move to El Salvador. His comments came at a World Liberty Forum event hosted by the Trump family's crypto venture, as Congress works on crypto market structure legislation.

• Solomon stated Goldman is 'super-interested' in crypto-related business including digitization and tokenization, though these assets remain a small percentage of the firm's overall operations
• A Senate crypto bill creating national regulatory structure has stalled over disputes about whether digital asset companies can offer customer rewards on stablecoins, which banks oppose as competition
• Senator Moreno predicted the crypto legislation would pass by April, while Coinbase CEO Armstrong indicated a path forward for a 'win-win-win' outcome for crypto firms, banks, and consumers

Federal Reserve officials showed significant division at their January meeting over future interest rate policy, deciding to pause cuts after reducing rates by 0.75 percentage points in late 2024. While some members favor holding rates steady until inflation clearly declines toward the 2% target, others support further cuts if inflation cooperates, and a few even considered the possibility of rate hikes.

• The Fed held its benchmark rate at 3.5%-3.75% after three consecutive cuts in September, October, and December 2024, with officials split between prioritizing inflation control versus labor market support
• Key voting members including Lorie Logan (Dallas) and Beth Hammack (Cleveland) favor an indefinite hold on rate changes due to persistent inflation concerns, while some officials like Christopher Waller and Stephen Miran voted for another quarter-point cut
• Futures markets currently expect the next rate cut in June with another in September or October, though inflation remains around 3% (above the Fed's 2% target) and the unemployment rate sits at 4.3%

An arbitrator has upheld Air Canada's offer of over 20% wage increases for flight attendants over four years, ending a dispute that resulted in a four-day strike in 2025. The decision favors the airline over cabin crew members who argued the raises were insufficient to cover rising living costs in expensive cities like Toronto.

• Arbitrator Paula Knopf ruled the wage rates were within the normative range for the sector and must be considered alongside other improvements to working conditions
• Flight attendants will now receive ground pay for pre-flight work such as boarding passengers, a practice Delta Air Lines pioneered in 2022
• Wage rates for Air Canada's budget carrier Rouge were increased to match comparable Canadian airlines, addressing pay disparity concerns

U.S. refiners Phillips 66 and Citgo are seeking to purchase heavy crude directly from Venezuela's PDVSA starting in April, bypassing trading houses and Chevron to maximize profits. This follows a general license issued by the Trump administration in late January that broadened oil export authorizations from Venezuela. The shift could expand Venezuelan oil trade to $5 billion over the next few months, though challenges remain around compliance and banking support.

• Phillips 66 previously bought Venezuelan oil from Vitol at about $9 per barrel below Brent; Valero plans direct purchases later in 2025 after assessing loading infrastructure
• Venezuelan crude prices have eased to $10 per barrel below Brent as more oil shifts from China to the U.S. Gulf Coast, down from $6-$7.50 below Brent last month
• Direct purchases face hurdles as PDVSA requires individual licenses or OFAC clearance for cargo lifts, and many U.S. banks remain reluctant to finance Venezuelan oil transactions despite the general license

A coalition of investors, including major public pension funds, is urging Starbucks shareholders to vote against reelecting two board directors at the March 25 annual meeting. The action stems from concerns over the company's handling of prolonged labor disputes with unionized baristas and the elimination of its Environmental, Partner, and Community Impact Committee. The investors warn that without improved labor relations, CEO Brian Niccol's turnaround efforts may be jeopardized.

• The investor group is targeting lead independent director Jorgen Vig Knudstorp and governance committee chair Beth Ford amid ongoing union negotiations following the company's longest-ever work stoppage late last year.
• Starbucks Workers United has been pressing for better staffing, more predictable schedules, and higher pay, creating a high-profile test for CEO Brian Niccol's revival strategy.
• The company responded by stating hourly partners earn an average of $30 per hour with benefits for those working just 20 hours weekly, while reallocating the eliminated committee's responsibilities across the board.

Billionaire Les Wexner, Jeffrey Epstein's closest known associate and primary benefactor, is being deposed by Congress behind closed doors in Ohio. The deposition follows the Department of Justice's recent release of millions of additional Epstein-related files and focuses on the financial relationship between the retail mogul and the convicted sex offender. Wexner, who has not been charged with any crime, previously gave Epstein power of attorney over his finances.

• Wexner was Epstein's only publicly known client and primary source of wealth, including funding for Epstein's plane, island, homes, and cash assets
• The House Oversight Committee's investigation centers on understanding 'the money' and why Wexner provided such extensive financial support to Epstein, which remains unclear
• Wexner had given Epstein, a former high school math teacher, power of attorney over his finances decades ago; after Epstein's 2019 arrest and suicide, Wexner claimed to have been 'taken advantage of'

Microsoft has committed to maintaining 100% renewable energy matching for all its electricity needs after achieving this goal for the first time in 2024, despite ongoing AI-driven data center expansion. The company contracted 40 gigawatts of new renewable energy through power purchase agreements, with 19 GW already supplied and the remainder coming over five years across 26 countries. Microsoft plans $50 billion in investments by 2030 for AI and cloud infrastructure expansion, particularly in the Global South.

• Microsoft contracted 40 GW of new renewable energy through long-term power purchase agreements, with 19 GW already delivered to grids and the rest arriving over the next five years across 26 countries
• The company plans $50 billion in investments by 2030 to expand AI infrastructure globally, particularly in developing nations, while maintaining its 100% renewable energy matching target through 2030 when it aims to become carbon negative
• In Ireland, where data centers consumed 22% of total power in 2024, Microsoft plans to resume stalled data center projects following government policy changes requiring new facilities to meet 80% of demand from additional renewable sources

Johnson & Johnson announced a $1 billion investment to build a new cell therapy manufacturing facility in Pennsylvania, creating over 4,000 construction jobs and 500 permanent positions. This expansion is part of J&J's larger commitment announced in March 2024 to invest billions in U.S. manufacturing through early 2029, driven by President Trump's tariff threats and policies favoring domestic production.

• The Pennsylvania facility will produce cell therapies for cancer, immune disorders, and neurological diseases, expanding capacity beyond J&J's currently approved cell therapy Carvykti for multiple myeloma
• J&J's investment follows the U.S. government's October imposition of tariffs on branded drugs, with exemptions for producers already building U.S. plants
• The company already operates 10 facilities in Pennsylvania with an estimated $10 billion annual economic impact and announced a separate North Carolina plant as part of its multi-billion dollar U.S. expansion

Drug distributor Cencora is merging its MWI Animal Health unit with privately held Covetrus in a $3.5 billion deal to create a combined animal-health distribution and technology company. Cencora will receive $3.5 billion in total consideration while retaining a 34.3% non-controlling stake in the merged business.

• Cencora will receive $1.25 billion cash at closing, $800 million in preferred equity, and $1.45 billion in common equity, while keeping a minority stake of 34.3%
• The deal is subject to regulatory approvals and is not expected to close before September 2026, the end of Cencora's fiscal year 2026
• Cencora reaffirmed its fiscal 2026 outlook, indicating the transaction will not impact its current financial projections

Moderna announced that the U.S. Food and Drug Administration has accepted its application to review the company's influenza vaccine candidate. This marks a significant regulatory milestone for Moderna as it seeks to expand its vaccine portfolio beyond COVID-19. The acceptance initiates the formal FDA review process for potential approval.

• The FDA has begun its formal review of Moderna's flu vaccine candidate following application acceptance
• This represents Moderna's effort to diversify its vaccine offerings beyond its COVID-19 mRNA vaccine platform
• FDA acceptance is a procedural step that allows the agency to conduct a full evaluation for potential market authorization

Uber Technologies announced a $100 million investment to build autonomous vehicle charging infrastructure, focusing on DC fast charging stations at depots and pit stops in priority cities. The expansion supports Uber's strategic push to scale self-driving operations across its ride-hailing platform, where it partners with over 20 autonomous vehicle firms including Waymo and WeRide.

• Charging rollout begins in U.S. cities including Bay Area, Los Angeles, and Dallas, with partnerships including EVgo, Electra, Hubber, and Ionity to deploy hundreds of new chargers globally
• Uber currently offers robotaxis in four U.S. cities plus Dubai, Abu Dhabi, and Riyadh, positioning autonomous vehicles as a key strategic priority to compete with Tesla and other rivals
• The company is committing capital directly to vehicle partners to secure early supply and accelerate deployments, leveraging what it calls a 'structural advantage' on its platform

Western Digital announced it will sell a $3.17 billion stake in flash memory maker SanDisk, offloading over 5.8 million shares. The offering is priced at approximately a 7.7% discount to SanDisk's previous closing price of $590.59. This represents a significant divestment by Western Digital, a hard disk drive manufacturer, from its position in the flash memory company.

• Western Digital will sell over 5.8 million shares of SanDisk valued at $3.17 billion
• The offering is priced at a 7.7% discount to SanDisk's last closing price of $590.59
• The deal marks a major stake sale by hard disk drive maker Western Digital in the flash memory manufacturer

Tesla avoided a 30-day suspension of its dealer and manufacturer licenses in California after ceasing to use the term 'autopilot' in its marketing within the state. The California DMV had accused Tesla of misleading advertising since 2022 regarding its driver-assistance features. This development comes as Tesla and other EV makers face declining demand following the expiration of tax credits.

• The California DMV accused Tesla in 2022 of false advertising by using 'autopilot' and 'Full Self-Driving' terms, later narrowing focus to 'autopilot' after Tesla clarified FSD requires driver supervision
• California is Tesla's largest U.S. market, making the threatened suspension particularly significant for the company's operations
• Tesla CEO Elon Musk has shifted company focus toward robotaxis with self-driving technology and humanoid robots amid broader EV demand challenges

YouTube experienced a significant outage on Tuesday affecting over 320,000 users in the United States, according to outage tracking website Downdetector. The Alphabet-owned platform saw peak incident reports of 321,958 at 8:18 p.m. ET, with related services YouTube TV and Google also experiencing disruptions. Google did not immediately respond to requests for comment about the outage.

• YouTube had 321,958 reported incidents at peak, while YouTube TV recorded 8,923 reports and Google had 2,694 reports
• The outage affected Alphabet-owned services broadly, suggesting a potential infrastructure issue impacting multiple Google properties
• Downdetector tracks outages by aggregating status reports from multiple sources to measure the scale of service disruptions