Washington pivots from mineral price floors in blow to mining sector - Reuters

Investing.com -- Brazilian fintech PicS NV, commonly known as PicPay, has raised $434 million in its U.S. initial public offering, pricing shares at the top of its marketed range at $19 each.

The digital bank, controlled by the billionaire Batista family, sold 22.86 million shares after initially offering them in a range of $16 to $19, according to reporting from Bloomberg, citing people familiar with the matter.

PicPay began as a digital wallet in 2012 and has since evolved into a full banking operation with approximately 67 million clients as of December. The Batista family, which also controls JBS NV, the world’s largest meat producer, acquired the company in 2015.

Financial results show PicPay’s growth trajectory, with the company reporting net income of 270.4 million reais ($52 million) on revenue of 7.26 billion reais for the nine months ending September 30. This represents significant growth compared to the same period a year earlier, when it posted net income of 150.8 million reais on revenue of 3.78 billion reais.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

After-hours movers:

Meta Platforms (META) rose 10% after publishing strong quarterly results and guidance, despite higher capex. Meta Platforms sees Q1 2026 revenue of $53.5-56.5 billion, versus the consensus of $51.27 billion.

Microsoft (MSFT) fell 4% despite strong EPS and revenue, after spending increased. Diluted earnings per share on a GAAP basis was $5.16 and increased 60%, and on a non-GAAP basis was $4.14 and increased 24% (up 21% in constant currency). Non-GAAP results exclude the impact from investments in OpenAI.

IBM (IBM) rose 8% after results beat consensus on the top and bottom line. IBM reported Q4 EPS of $4.52, $0.23 better than the analyst estimate of $4.29. Revenue for the quarter came in at $19.7 billion versus the consensus estimate of $19.22 billion.

ServiceNow (NOW) fell 6% despite solid results, amid ongoing concerns about AI impact on future performance. ServiceNow also announced a collaboration with Anthropic to integrate Claude AI models into its platform for application development and business processes

Las Vegas Sands (LVS) fell 10% despite beating estimates for Q4 EPS and revenue, due to lackluster Macao results. Macao adjusted property EBITDA was $608 million.

Joby Aviation (JOBY) fell 11% after it announced plans for $1 billion stock and convertible notes offerings.

United Rentals (URI) fell 6% after reporting disappointing quarterly results. United Rentals reported Q4 EPS of $11.09, $0.69 worse than the analysts’ estimate of $11.78. Revenue for the quarter came in at $4.21 billion versus the consensus estimate of $4.24 billion.

Investing.com -- Joby Aviation (NYSE:JOBY) stock fell 8% in after-hours trading on Wednesday following the electric air taxi developer’s announcement of plans to raise approximately $1 billion through concurrent offerings of convertible senior notes and common stock.

The California-based company, which is developing electric vertical takeoff and landing (eVTOL) aircraft for commercial passenger service, said it intends to offer convertible senior notes due 2032 and shares of its common stock in separate public offerings. The combined proceeds from both offerings are anticipated to reach $1 billion.

Alongside these offerings, Morgan Stanley plans to conduct a "delta offering" of borrowed Joby shares to facilitate hedging transactions by some investors in the notes. No new shares will be issued in this delta offering, and Joby will not receive any proceeds from it.

The electric air taxi developer noted that the note offering and common stock offering are being made separately, with neither contingent upon the completion of the other. However, the delta offering and note offering are contingent upon each other. The company also plans to grant the underwriters a 30-day option to purchase additional notes and common stock.

Joby is among several companies developing electric air taxis, aiming to revolutionize urban transportation with zero-emission aircraft capable of vertical takeoff and landing. The significant capital raise comes as the company continues to work toward commercial operations and regulatory certification of its aircraft.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Investing.com – U.S. stocks were mixed after the close on Wednesday, as gains in the Telecoms, Oil & Gas and Basic Materials sectors led shares higher while losses in the Consumer Services, Industrials and Healthcare sectors led shares lower.

At the close in NYSE, the Dow Jones Industrial Average added 0.02%, while the S&P 500 index lost 0.01%, and the NASDAQ Composite index added 0.17%.

The best performers of the session on the Dow Jones Industrial Average were Unitedhealth Group (NYSE:UNH), which rose 4.00% or 11.32 points to trade at 294.02 at the close. Meanwhile, NVIDIA Corporation (NASDAQ:NVDA) added 1.59% or 3.00 points to end at 191.52 and Johnson & Johnson (NYSE:JNJ) was up 1.46% or 3.28 points to 227.72 in late trade.

The worst performers of the session were Amgen Inc (NASDAQ:AMGN), which fell 2.59% or 9.10 points to trade at 342.22 at the close. Honeywell International Inc (NASDAQ:HON) declined 1.93% or 4.27 points to end at 216.64 and Nike Inc (NYSE:NKE) was down 1.35% or 0.85 points to 62.24.

The top performers on the S&P 500 were Seagate Technology PLC (NASDAQ:STX) which rose 19.14% to 442.93, Intel Corporation (NASDAQ:INTC) which was up 10.99% to settle at 48.76 and Western Digital Corporation (NASDAQ:WDC) which gained 10.70% to close at 279.69.

The worst performers were Amphenol Corporation (NYSE:APH) which was down 12.19% to 145.99 in late trade, Axon Enterprise Inc (NASDAQ:AXON) which lost 9.89% to settle at 549.86 and Skyworks Solutions Inc (NASDAQ:SWKS) which was down 7.94% to 55.28 at the close.

The top performers on the NASDAQ Composite were Tian Ruixiang Holdings Ltd (NASDAQ:TIRX) which rose 311.21% to 1.32, ENvue Medical Inc (NASDAQ:FEED) which was up 119.87% to settle at 2.31 and Linkers Industries Ltd (NASDAQ:LNKS) which gained 60.35% to close at 0.77.

The worst performers were CalciMedica Inc (NASDAQ:CALC) which was down 75.35% to 1.25 in late trade, Masonglory Ltd (NASDAQ:MSGY) which lost 67.25% to settle at 2.05 and FAT Brands Inc (NASDAQ:FATBB) which was down 38.61% to 0.62 at the close.

Falling stocks outnumbered advancing ones on the New York Stock Exchange by 1634 to 1103 and 96 ended unchanged; on the Nasdaq Stock Exchange, 2287 fell and 1082 advanced, while 175 ended unchanged.

Shares in Seagate Technology PLC (NASDAQ:STX) rose to all time highs; rising 19.14% or 71.17 to 442.93. Shares in Western Digital Corporation (NASDAQ:WDC) rose to all time highs; gaining 10.70% or 27.03 to 279.69. Shares in Johnson & Johnson (NYSE:JNJ) rose to all time highs; rising 1.46% or 3.28 to 227.72. Shares in CalciMedica Inc (NASDAQ:CALC) fell to all time lows; falling 75.35% or 3.82 to 1.25. Shares in FAT Brands Inc (NASDAQ:FATBB) fell to all time lows; losing 38.61% or 0.39 to 0.62.

The CBOE Volatility Index, which measures the implied volatility of S&P 500 options, was up 0.18% to 16.38.

Gold Futures for April delivery was up 5.80% or 297.20 to $5,417.80 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in March rose 1.84% or 1.15 to hit $63.54 a barrel, while the April Brent oil contract rose 1.58% or 1.05 to trade at $67.64 a barrel.

EUR/USD was down 0.81% to 1.19, while USD/JPY rose 0.79% to 153.45.

The US Dollar Index Futures was up 0.14% at 96.19.

Investing.com – Canada stocks were higher after the close on Wednesday, as gains in the Materials, Energy and IT sectors led shares higher.

At the close in Toronto, the S&P/TSX Composite added 0.24% to hit a new all time high.

The best performers of the session on the S&P/TSX Composite were Energy Fuels Inc. (TSX:EFR), which rose 14.48% or 4.75 points to trade at 37.55 at the close. Meanwhile, Denison Mines Corp (TSX:DML) added 8.97% or 0.48 points to end at 5.83 and NexGen Energy Ltd. (TSX:NXE) was up 8.53% or 1.48 points to 18.84 in late trade.

The worst performers of the session were Aritzia Inc (TSX:ATZ), which fell 6.21% or 7.15 points to trade at 107.94 at the close. Curaleaf Holdings Inc (TSX:CURA) declined 5.99% or 0.20 points to end at 3.14 and Lithium Americas Corp (TSX:LAC) was down 4.69% or 0.40 points to 8.13.

Rising stocks outnumbered declining ones on the Toronto Stock Exchange by 491 to 475 and 76 ended unchanged.

Shares in Energy Fuels Inc. (TSX:EFR) rose to 5-year highs; gaining 14.48% or 4.75 to 37.55. Shares in Denison Mines Corp (TSX:DML) rose to 5-year highs; rising 8.97% or 0.48 to 5.83. Shares in NexGen Energy Ltd. (TSX:NXE) rose to all time highs; up 8.53% or 1.48 to 18.84.

The S&P/TSX 60 VIX, which measures the implied volatility of S&P/TSX Composite options, was down 2.36% to 14.90.

Gold Futures for April delivery was up 5.75% or 294.24 to $5,414.84 a troy ounce. Elsewhere in commodities trading, Crude oil for delivery in March rose 1.80% or 1.12 to hit $63.51 a barrel, while the April Brent oil contract rose 1.53% or 1.02 to trade at $67.61 a barrel.

CAD/USD was unchanged 0.23% to 0.74, while CAD/EUR rose 0.99% to 0.62.

The US Dollar Index Futures was up 0.14% at 96.19.

Investing.com – Colombia stocks were higher after the close on Wednesday, as gains in the Industrials, Services and Agriculture sectors led shares higher.

At the close in Colombia, the COLCAP added 0.41%.

The best performers of the session on the COLCAP were Bolsa De Valores De Colombia (BVC:BVC), which rose 9.40% or 1,440.00 points to trade at 16,760.00 at the close. Meanwhile, Grupo Aval Acciones y Valores SA Pref (BVC:GAA_p) added 5.96% or 54.00 points to end at 960.00 and Banco Davivienda Pf (BVC:DVI_p) was up 3.62% or 980.00 points to 28,020.00 in late trade.

The worst performers of the session were Bancolombia Pf (BVC:BIC_p1), which fell 2.06% or 1,600.00 points to trade at 76,200.00 at the close. Interconnection Electric SA ESP (BVC:ISA) declined 1.64% or 540.00 points to end at 32,340.00 and Organizacion Terpel SA (BVC:TPL) was down 1.48% or 300.00 points to 20,000.00.

Rising stocks outnumbered declining ones on the Colombia Stock Exchange by 1 to 0.

Shares in Bolsa De Valores De Colombia (BVC:BVC) rose to 5-year highs; up 9.40% or 1,440.00 to 16,760.00. Shares in Grupo Aval Acciones y Valores SA Pref (BVC:GAA_p) rose to 3-years highs; rising 5.96% or 54.00 to 960.00.

US coffee C for March delivery was down 4.42% or 16.25 to $351.00 . Elsewhere in commodities trading, US cocoa for delivery in March fell 6.47% or 287.00 to hit $4,146.00 , while the April Gold Futures contract rose 5.89% or 301.59 to trade at $5,422.19 a troy ounce.

USD/COP was up 1.60% to 3,680.00, while BRL/COP rose 1.33% to 708.31.

The US Dollar Index Futures was up 0.13% at 96.18.