Welcome back to Markets Desk, here's what's moving the tape this afternoon.
Berkshire Hathaway made its boldest portfolio statement yet under new CEO Greg Abel, more than tripling its stake in Alphabet and deploying over two point six billion dollars into Delta Air Lines. At the same time, Abel cut positions in Visa, Mastercard, Amazon, and United Healthcare, signaling a meaningful shift in the conglomerate's strategic direction from its Buffett era.
Turning to utilities, NextEra Energy and Dominion Energy are in active talks to combine in what would create a roughly four hundred billion dollar American utility giant. The driver here is surging electricity demand tied to data center buildout, and a deal of this scale would reshape the regulated power landscape significantly, drawing immediate scrutiny from both investors and regulators.
And the IPO market is bracing for its biggest moment in years. SpaceX is said to be planning a public filing as soon as Wednesday, with formal marketing potentially beginning June fourth, pricing around June eleventh, and a listing targeted for June twelfth. If that timeline holds, Elon Musk's rocket and satellite company would become one of the most consequential public offerings in a generation.
That's the tape. Markets Desk, signing off the floor.
