Databricks is buying database startup Neon for $1 billion. The...
Databricks is buying database startup Neon for $1 billion. The data analytics company’s big purchase of the startup appears to be all about AI agents, autonomous bots that the tech world believes are about to be as ubiquitous as Stanley cups. “Pretty much every customer we have is super excited and wants to leverage agents,” Databricks CEO Ali Ghodsi told the Wall Street Journal, adding that to do what companies want, they need to be hooked up to databases, and that’s where Neon comes in. The company offers a cloud-based database platform, and Databricks is planning for that to connect with the data it stores for companies to help AI agents do their thing.
Ukraine and Russia are scheduled to hold peace talks in Turkey today, but even figuring out who would attend them has been contentious.
eToro soared nearly 29% following its Nasdaq debut, giving investors new hope for IPOs.
Badar Khan Suri, a postdoctoral scholar at Georgetown University who was arrested amid the Trump administration’s crackdown on foreign students, was released after a judge ruled that his detention was in violation of his constitutional rights to free speech and due process.
US-China tariff pause no silver bullet for energy trade
The US-China 90-day tariff...
The US-China 90-day tariff truce offers short-term relief but is unlikely to revive Chinese imports of American crude oil, liquefied natural gas and coal, which have plummeted amid ongoing trade tensions, writes Clyde Russell. With US energy products still uncompetitive at China's reduced 10% tariff, any revival in energy trade will likely hinge on future negotiations. However, past deals suggest lofty commitments may fall short of real deliveries again, Russell asserts.
Dow books back-to-back drop, S&P and Nasdaq end higher as Treasury yields pop
U.S. stocks closed mostly higher on Wednesday, although...
U.S. stocks closed mostly higher on Wednesday, although the blue-chip Dow sealed back-to-back drops while longer-term Treasury yields kept marching higher.
According to Dow Jones Market Data, the 10-year Treasury yield rose to 4.529% on Wednesday, climbing for a fifth straight session and touching its highest level since Feb. 12.
The Dow Jones Industrial Average fell 89.37 points, or 0.2%, ending at 42,051.06.
The S&P 500 gained 6.03 points, or 0.1%, finishing at 5,892.58.
The Nasdaq Composite rose 136.72 points, or 0.7%, closing at 19,146.81.
Higher bond yields can pressure stocks by keeping borrowing costs elevated, crimping consumer spending and potentially eroding future earnings power.
Oil prices eased on Wednesday after government data showed U.S. crude...
Oil prices eased on Wednesday after government data showed U.S. crude oil stockpiles rose unexpectedly last week, prompting investor concerns of excess supplies.
Brent crude futures settled down 54 cents, or around 0.81%, to $66.09 a barrel. U.S. West Texas Intermediate crude slipped 52 cents, or 0.82%, to $63.15.
Both benchmarks traded close to their highest in two weeks in the previous session, lifted by a temporary cut in U.S.-China tariffs.
The benchmarks fell after data from the Energy Information Administration showed crude stockpiles rose by 3.5 million barrels to 441.8 million barrels last week.
TXO Acquires White Rock's Williston Assets for $350MM
TXO Partners LP has agreed to acquire producing assets in the Elm Coulee...
TXO Partners LP has agreed to acquire producing assets in the Elm Coulee Field of the Williston Basin from White Rock Energy, a Quantum Capital Group portfolio company.
The total cash consideration for TXO is approximately $350 million, of which $70 million will be deferred and payable a year after the deal’s closing, according to a May 13 press release.
The release stated that the transaction is expected to add approximately 6,800 boe/d (~93% liquids) to TXO’s footprint and proved developed reserves of approximately 25 MMboe.
The transaction is expected to close in the third quarter of 2025.
The agreement was signed in partnership with North Hudson Resource Partners, whose affiliates will acquire a 30% non-operated interest in the White Rock assets for approximately $125 million.
The total consideration for White Rock’s Elm Coulee assets is $475 million, according to the release.
