The “Big Two” proxy advisors are losing their grip on Wall Street’s biggest voting blocks. Wells Fargo’s Wealth & Investment Management unit ($2.5 trillion AUM) announced Wednesday it is launching an internal proxy voting service, effectively severing ties with ISS (Institutional Shareholder Services). The move aligns the bank with a growing trend of major asset...
The man behind Keytruda is back to ring the bell. Eikon Therapeutics, led by former Merck research chief Roger Perlmutter, has set terms for its Nasdaq debut (“EIKN”). The company is targeting a valuation of $908 million, seeking to raise up to $317.7 million as the biotech IPO window creaks open in early 2026. 🔬...
The race for regional scale continues, and Texas remains the hottest battleground. Prosperity Bancshares (PB) has agreed to acquire rival Stellar Bancorp (STEL) in a cash-and-stock deal valued at $2 billion. The transaction combines two Houston heavyweights to create the second-largest Texas-headquartered bank by deposits. 💰 THE DEAL METRICS: 🗺️ THE STRATEGY: This is a...
The “ValueAct School” of activism is making a move in the cloud sector. Fivespan Partners, an activist firm founded by former ValueAct partners, has disclosed a 6.2% stake in Appian (APPN) via a 13-D filing. The firm intends to engage with management on strategy as the cloud computing company struggles with a collapsing share price....
The retail trading herd has found a new favorite, and it isn’t Nvidia. According to Vanda Research, retail appetite for silver has officially overtaken the technology sector. On Monday alone, individual investors net bought $171 million of the iShares Silver Trust (SLV)—nearly double the peak ($93M) seen during the infamous 2021 “Silver Squeeze.” 🚀 THE...