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Yahoo
40 minutes ago
- Business
- Yahoo
Citigroup Sees Bigger IPOs as Private Deals Bulk Up Valuations
(Bloomberg) -- A wave of big initial public offerings is building as emerging growth companies stay private for longer and bulk up their valuations through secondary stock sales. Philadelphia Transit System Votes to Cut Service by 45%, Hike Fares US Renters Face Storm of Rising Costs Squeezed by Crowds, the Roads of Central Park Are Being Reimagined Mapping the Architectural History of New York's Chinatown Sprawl Is Still Not the Answer 'I don't know if it's here forever, but I think you are winding up a coil,' said John Collmer, global head of private placements at Citigroup Inc. 'You are creating this massive backlog of quality companies that will go public.' The shift is being bolstered by institutional investors who are increasingly eager to invest in late-stage companies that could go public in the next three years, Collmer said in an interview on the sidelines of the bank's Private Company Growth Conference in New York this week. This explains why private placements are on the rise in 2025 following a slump that began in 2022 when the Federal Reserve raised interest rates. As developing technologies become increasingly prominent, investors are scurrying for exposure to those sectors that aren't well represented in public markets — yet. 'Fifteen years ago, people wanted to invest in Uber because you couldn't get it in the public market,' Collmer said. 'Today they are looking for the artificial intelligence, robotics and defense technologies companies that they can't get in the public market. They tend to be big industries that are being disrupted and the disruptors are in the private market.' Take for instance Elon Musk's SpaceX, along with OpenAI, Stripe and Databricks Inc., all of which have turned to private secondary sales to provide liquidity to investors, including employees. That market has expanded to around $60 billion, up from $50 billion last year, according to a report released by research firm Pitchbook last month. New York-based Ramp Business Corp. recently revealed that new and existing investors had purchased $150 million of shares from employees and early investors at a price valuing the fintech startup at $13 billion. IPO Uptick Coming Despite the growth in private secondary sales, companies will eventually see the benefit of going public, according to Cully Davis, Citigroup's head of growth equity. Davis said there's at least one sign that there could be an uptick in the number of growth IPOs: A flurry of publicly traded tech companies, including some new ones, are selling zero-coupon convertible bonds to raise money. 'When that market starts to open up, and it has opened up dramatically in the last month and a half, those are really positive signals,' he added. From an M&A perspective, an IPO also has its advantages. 'It's quite helpful for a company to have a legitimate publicly traded security that is liquid and that is independently valued and allows them to pursue acquisitions with confidence and with a currency that has real value,' he said. which is a Citigroup client, is focused on growth for now while keeping its options open. The AI software firm was valued at nearly $800 million in 2023 after a capital infusion of $150 million from a group of investors that include Nvidia Corp. 'We are figuring out what's the right path of growth, whether it's through an incremental acquisition or, at the right point, looking at an IPO,' said DK Sharma, chief operating officer. 'But right now, we're focused on getting the appropriate muscles for growing big time on top of our momentum today. America's Top Consumer-Sentiment Economist Is Worried How to Steal a House Inside Gap's Last-Ditch, Tariff-Addled Turnaround Push Luxury Counterfeiters Keep Outsmarting the Makers of $10,000 Handbags Apple Test-Drives Big-Screen Movie Strategy With F1 ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Sport
- Yahoo
Mets Announce Roster Move After Suffering Major Loss
Mets Announce Roster Move After Suffering Major Loss originally appeared on Athlon Sports. It's only June, but the New York Mets have shown that they can thrive in the face of adversity. They are in first place despite starting pitchers Kodai Senga (hamstring), Tylor Megill (elbow), Sean Manaea (oblique), and now Griffin Canning (Achilles) all being on the IL. Advertisement The latter hurler suffered his injury in the third inning of Thursday's 4-0 win over the Atlanta Braves, and he'll miss the rest of the season. Right-hander Clay Holmes and southpaw David Peterson are currently their only healthy starters that have played the full season. Right-hander Frankie Montas made his first start of the year on Tuesday after rehabbing a lat strain. New York made a roster move before Friday's bout with the Pittsburgh Pirates, via The New York Post's Mike Puma. New York Mets pitcher Griffin Canning (46).Lucas Boland-Imagn Images "Griffin Canning has been placed on the 60 day IL with a ruptured Achillies and Blade Tidwell is recalled," he reported. "Also, Jared Young was optioned to Syracuse with Mark Vientos returning." Advertisement Tidwell is 0-1 with a 9.82 ERA over two starts this season. The Mets drafted the 24-year-old rookie No. 52 overall in 2022. New York is a half-game ahead of the Philadelphia Phillies atop the NL East and is 3-7 in its last two games. It will square off with a last-place Pirates team on the road over the weekend before returning home to host the Milwaukee Brewers and New York Yankees. Peterson (5-3, 2.98 ERA) will start on Friday for New York against Pittsburgh right-hander Mitch Keller (1-10, 4.02 ERA). Related: Mets Make Griffin Canning Announcement After Leaving Braves Game Related: Mets' Carlos Mendoza Reveals Terrible Griffin Canning News This story was originally reported by Athlon Sports on Jun 27, 2025, where it first appeared.
Yahoo
an hour ago
- Sport
- Yahoo
Yankees' Clark Schmidt ‘can't describe that feeling' after shutting down Orioles
The post Yankees' Clark Schmidt 'can't describe that feeling' after shutting down Orioles appeared first on ClutchPoints. Aaron Boone and the New York Yankees entered Saturday's game against the Baltimore Orioles looking for revenge. The Orioles defeated them 5-3 at Yankee Stadium in the opening game of their weekend series. After an abysmal offensive stretch, New York is in desperate need of as much help as their pitchers can give them. Advertisement Luckily for the Yankees, Saturday's starter came through in a big way. New York starting pitcher Clarke Schmidt refused to let the Baltimore offense get going on on Saturday. He and JT Brubaker combined to shut the Orioles' offense down, allowing just one hit throughout the game. Boone's offense also showed up for the first time in a while, hitting four home runs en route to a 9-0 win. Despite a good display from the Yankees' lineup, Schmidt and Brubaker were the real heroes. Schmidt left his start to a standing ovation from fans who watched him pitch seven innings without allowing a hit. After the game, Schmidt spoke to YES Network reporters about his reaction to receiving so much love from the fanbase. 'Hearing the crowd after I came out in the seventh(inning), I really appreciate that,' Schmidt said. 'I feel that energy and words can't describe that feeling. When you're leaving and you're getting a standing ovation, especially in (Yankee) Stadium, you feel like all eyes are on you. It's just a really good feeling.' Advertisement Schmidt and Brubaker were dominant as a pair, allowing only four base runners throughout the entire game. The 29-year-old starter attributed a lot of his success to how he approached the game. 'I was very present day,' Schmidt said about his mindset during his start. 'I was very focused on executing pitches, very focused on attacking guys, and it really showed.' Schmidt's recent tear on the mound is a welcome sight for Boone. The Yankees started the season without Gerrit Cole thanks to injury. Despite losing their ace before the season started, New York is still near the top of the standings. Even though they are not at full strength in their starting rotation, Schmidt's emergence gives his manager three arms he can trust. The win on Saturday brings the Yankees to 44-32 on the season. After leading the American League East by a wide margin for the majority of the season, New York's rough stretch has opened the door for others. Advertisement Despite the Yankees' struggles over the last two weeks, Schmidt's performance gives his team hope. If they can mimic what they did on Saturday moving forward, the sky's the limit. However, a combined no-hitter is plenty of reason to celebrate in the meantime. Related: Yankees lose no-hitter 1 batter after Clarke Schmidt's exit Related: Yankees' Aaron Boone drops Luis Gil injury timeline
Yahoo
an hour ago
- Sport
- Yahoo
MLB Power rankings, Vol. 15: Panic time for Yankees and Mets?
The post MLB Power rankings, Vol. 15: Panic time for Yankees and Mets? appeared first on ClutchPoints. The 2025 MLB Power Rankings are back after another thrilling week on the diamond. Rafael Devers faced off against the Boston Red Sox for the first time, a heat wave sent balls flying out of Wrigley Field, and Shohei Ohtani was back on the mound. Advertisement But the MLB Power Rankings are headlined by the New York Yankees and New York Mets, who have Big Apple baseball fans panicked about a June swoon. How do the rankings shake out this week? #1: Los Angeles Dodgers (-) Kiyoshi Mio-USA TODAY Sports He's pitching again. A year without it makes it even more surreal that Shohei Ohtani, the guy who invented the 50/50 club, also pitches. He's made two starts, throwing one inning in each, with the intent of ramping up as the summer wears on. The Los Angeles Dodgers took three of four from the San Diego Padres, with a hit-by-pitch controversy to boot, and took two of three from the Washington Nationals. In those seven games, Ohtani had eight RBIs and pitched two innings. They have opened a 3.5-game lead in the NL West with a road trip to Colorado and Kansas City coming next. #2: Philadelphia Phillies (+1) The Philadelphia Phillies took three of four from the Miami Marlins and two of three from the Mets to take the lead in the NL East. They are 47-31, a game above the Mets, and 9-3 in their last 12 games. Advertisement After slipping in the MLB Power Rankings in May, they have gotten back on track of late. Nick Castellanos hit .360 with four RBIs, including a homer against the Mets on Friday, to lead the way offensively. The Phillies look to stay hot against the Astros and Braves on the road this week. #3: New York Mets (-1) The Mets have lost eight of their last nine games with only a Saturday win over the Phillies saving them from an epic slide. They have squandered what was a 5.5-game lead in just 10 days. They were swept by the Atlanta Braves before losing the two games in Philadelphia. Young catcher Francisco Alvarez was sent down to the minors amid a miserable slump. He has a .652 OPS in 35 games this season compared to .710 in 100 games last year. But good news, Mark Vientos is raking on his rehab assignment and could come back soon. The Mets have to get back on track with four games against the Braves and three against the Pirates this week. #4: Chicago Cubs (-) The Chicago Cubs had an opportunity to rise in the MLB Power Rankings with the Mets' struggling this week. But Chicago split two games with the Milwaukee Brewers and lost a series to the Seattle Mariners, so they stay at four. Their offense was far from the problem with 27 runs in the five games. Advertisement But they could not contain Cal Raleigh and the Mariners' offense. Their starting pitching got tattooed, with Jamison Taillon allowing five runs in four innings and Colin Rea allowing seven runs in 5.1 innings. They hit the road for three-game sets against the St. Louis Cardinals and Houston Astros this week. #5: Detroit Tigers (-) David Reginek-USA TODAY Sports The Detroit Tigers keep their spot as the top American League team in the MLB Power Rankings despite a 3-3 week. They took two of three from the Pittsburgh Pirates before losing two of three against the Tampa Bay Rays. Riley Greene was a bright spot, going 11-for-23 with 10 RBIs in the six games this week. Tarik Skubal was solid in his start, allowing two runs in 5.2 innings against the Pirates on Thursday. The Tigers host the Athletics and the Minnesota Twins for three games each this week. #6: San Francisco Giants (-) The San Francisco Giants welcomed in the Boston Red Sox for what would usually be a regular interleague matchup. But Rafael Devers was playing just his second series with the Giants after nearly a decade in Boston. Advertisement Devers is hitting .217 with three RBIs as a Giant so far, but those numbers should improve. The team went 3-3 in their first week with their new designated hitter. They are hoping for better than that this week against the Marlins and White Sox. #7: Houston Astros (+1) The Houston Astros move up a spot after splitting four games with the Athletics and taking a series from the Los Angeles Angels. Those are the wins that kept them comfortably ahead of the Mariners this week in the AL West. Josh Hader closed out Sunday's win against the Angels, continuing his perfect season with 18 saves in 18 opportunities. Mauricio Dubon's two homers helped bring that game home. His heating up would be huge for Houston's infield. This week, the Astros host the Phillies and the Cubs. #8: New York Yankees (-1) The Yankees only drop a spot after a miserable stretch ended this week. They lost a series to the Red Sox over Father's Day Weekend, dropped three of four to the Angels, and then lost the first game to the Baltimore Orioles. But their offense came alive over the weekend, outscoring Baltimore 13-2 to take the series. Advertisement Jazz Chisholm scored a run and knocked in the game-winning run in the eighth inning to clinch the series win. They still have the AL East lead, but the Yankees need to get hot again. They visit the Cincinnati Reds before welcoming in the Athletics over the weekend. #9: San Diego Padres (-) The Padres lost three games to the Dodgers and took two from the Kansas City Royals, finishing the week at 3-4. They went through all of the hit-by-pitch drama with the Dodgers, losing manager Mike Shildt for one game and closer Robert Suarez for three games. San Diego has gone 2-5 against LA in June, digging a deep NL West hole. Jose Iglesias finished a three-RBI day with a walk-off on Sunday in a 3-2 win. The Padres need to kick it into gear to catch the Dodgers, but they are sitting comfortably at nine. This week, they host the Washington Nationals and visit the Reds. #10: Seattle Mariners (+2) Kirby Lee-USA TODAY Sports The Mariners missed the playoffs last year because their offense fell apart down the stretch. Cal Raleigh is trying to make sure that doesn't happen this year. His four-homer series at Wrigley brought him to 31 long balls on the season, the best in baseball. Advertisement Their pitching struggled at points, including a tough Sunday start from Logan Gilbert. They started the week losing a series to the Red Sox, but the Wrigley win bumps them up. They need to stay hot with the road trip continuing in Minnesota and Texas. #11: Texas Rangers (-1) The Texas Rangers were swept by the Royals before taking two of three from the Pirates over the weekend. They avoided Paul Skenes, which helped them win that series and helped the offense come alive. Texas scored 12 runs in the three games of that series after scoring just five in three games against Kansas City. The Astros keep winning, so Texas has to kick it up a gear before this season slips away. They visit the Baltimore Orioles before hosting the Mariners in a big weekend series. #12: Milwaukee Brewers (+2) The Brewers split two games with the Cubs and swept the Minnesota Twins to stay as one of the hottest teams in baseball. They are 8-3 in their last 11, 13-7 in June, and are just 3.5 games back in the NL Central. Jacob Misiorowski has been sensational in his first two starts, carrying a no-hitter through five again. Advertisement He allowed the first earned run of his career in his 11th inning. That should help Milwaukee's pitching concerns as the summer heats up. The Brewers host the Pirates and Rockies this week, so they have an opportunity to string together more wins. #13: Toronto Blue Jays (-2) The Toronto Blue Jays were flying high coming into the week and kept it rolling with two wins over the Arizona Diamondbacks. But they lost a chance at a sweep and then lost a series to the Chicago White Sox. The biggest difference between the series was Vladimir Guerrero Jr, who had six hits against Arizona and one against the White Sox. They are only four games behind the Yankees in the AL East and firmly in a Wild Card spot. They hit the road this week for series against the Cleveland Guardians and Red Sox. #14: Arizona Diamondbacks (+1) The Diamondbacks lost that series to the Blue Jays but did take two of three from the Rockies to salvage the week. With all of their issues this year, the Snakes are just 3.5 games out of the final Wild Card spot. There may be too many teams to jump, but Arizona is hanging around for now. Advertisement Their trade deadline pieces have been a big conversation topic, and Eugenio Suarez made that even louder with his 300th career homer this week. Next, the Diamondbacks visit the White Sox and host the Miami Marlins. #15: Atlanta Braves (-2) Charles LeClaire-USA TODAY Sports The Braves did sweep the Mets this week, but they lost a series to the Marlins to drop them in the MLB Power Rankings. They need to win every series against non-playoff teams to become a playoff team themselves. Losing those two games to Miami put them seven games out of the final Wild Card spot. And now, Chris Sale is on the injured list with a fractured rib. Their pitching staff gets even thinner with another injury. The Braves visit the Mets for four before hosting the Phillies. By the end of that, Atlanta could be way out of it or all the way back in. #16: Tampa Bay Rays (-) The Rays had a solid week but did not have a lot of space to go up in the MLB Power Rankings. They split four games with the Orioles and took two from the Tigers, moving to 43-35. That is just 2.5 games behind the Yankees and three games clear of the final Wild Card spot. Advertisement Jonathan Aranda has continued his hot season, currently sporting an eight-game hit streak and had an .858 OPS with two RBIs in the last two series. They looked like they were out of it when they were 21-26 on May 19. Since then, they are 22-9. They hit the road for sets against the Royals and Orioles this week. #17: Cleveland Guardians (-) The Guardians won both of their series this week, taking two of three from the Giants and Athletics. They held Rafael Devers at bay in his San Francisco debut and snagged two from the slumping A's. Kyle Manzardo has been solid for Cleveland when he plays, hitting .357 in five games this week. His lefty swing has been a great change of pace for the Guardians recently, especially with Carlos Santana's .430 OPS in June. The Guardians can soar in the MLB Power Rankings with home sets against the Blue Jays and Cardinals. #18: St Louis Cardinals (-) The Cardinals got hot this week, sweeping the White Sox and taking two of three from the Reds. Yohel Pozo hit a walk-off single in the 11th inning on Saturday, clinching a series win. Advertisement That embodies the Cardinals' season: a lot of younger players without marquee names getting it done. Nolan Arenado is helping, too, with a .300 average and .991 OPS this week. The Cardinals are just a game behind the Brewers for the last NL Wild Card spot. They host the Cubs for four and visit the Guardians for three. #19: Cincinnati Reds (+1) The Reds move up a spot after a 3-3 week that featured a series win over the Twins. They dealt with some incredible heat that had Elly De La Cruz getting sick just before hitting homers. The Reds are firmly in the middle tier of the National League and have the talent to steal a postseason spot. They could also be sellers at the trade deadline with Nick Martinez in a contract year. Anything is possible for the Reds this season, with pressure mounting as De La Cruz gets closer to free agency. Cincy hosts the Yankees and Padres this week. #20: Boston Red Sox (-1) John Jones-USA TODAY Sports The Red Sox went out west for the week, snagging a series from the Mariners and losing a series to the Giants. They sent Kristian Campbell down to AAA after a miserable stretch on both offense and defense. Since the beginning of May, he is hitting .159 with a .465 OPS and has been dreadful at second base. Advertisement Marcelo Mayer and Roman Anthony remain with the big club, looking to usher Boston into a new era. The conversation about the Red Sox was about the future this week after trading Rafael Devers. It will continue to be future-oriented unless they get scorching hot or make a big deadline deal. Boston finishes their trip in Anaheim before hosting Toronto. #21: Kansas City Royals (+1) The Royals move up a spot after sweeping the Rangers, even after losing two of three to the Padres. While they can't seem to stay above .500, they are far from out of it in the American League. Seth Lugo put together two amazing starts, allowing two earned runs in 12.1 innings and striking out 18. Bobby Witt Jr. hit .375 with a 1.173 OPS this week, continuing a stellar season at shortstop. The Royals are not on the playoff trajectory they were on last year, but they are getting excellent performances from their best players. This week, they host the Rays and Dodgers. #22: Los Angeles Angels (+2) The Angels move up in the MLB Power Rankings after taking a series from the Yankees. They shut out the Bronx Bombers in the first two games and snagged an impressive win in Game 3. But they could not complete the sweep and then lost two of three to the Astros. Advertisement The Angels are 37-40 and, even with Mike Trout heating up, don't have the firepower to get wicked hot. That's what they would need to truly compete for the postseason. They host the Red Sox and Nationals, looking to prove that wrong. #23: Baltimore Orioles (-) The Baltimore Orioles split a series with the Rays and lost a series to the Yankees to stop their momentum in the MLB Power Rankings. Even with a decent run of late, they are way behind in the playoff race and running out of time. They had an opportunity to take a series from the Yankees but blew a lead late in Sunday's game. Adley Rutschman has hit the injured list, marking the 21st unique player to spend time there for Baltimore this season. #24: Minnesota Twins (-3) The Twins are big losers in the MLB Power Rankings this week, going 1-5 to drop to 37-40. While that is a disappointing record for Minnesota, it gets even worse when you remember they had a 13-game winning streak earlier this year. They are 24-40 outside of those games, which is dreadful. Advertisement They are 3-13 in their last 16 and tumbling out of playoff contention. Byron Buxton is healthy and raking, with a 1.215 OPS and 17 RBIs in June. But there are not many other positives to take from Minnesota so far. They host the Mariners and visit the Tigers this week. #25: Athletics (-) Peter Aiken-USA TODAY Sports The Athletics split four games with the Astros and lost a series to the Guardians to continue their epic slide. They are 9-12 in June, a significant increase from their 7-21 record in May. Their offense has been solid, with Nick Kurtz joining the group of solid hitters, but pitching continues to be a problem. Luis Severino has a 6.00 ERA in 24 innings in June, continuing a disappointing season for the new ace of the staff. The problems start there and will likely continue as long as they play in Sacramento. The Athletics hit the road for sets against the Tigers and Yankees this week. #26: Washington Nationals (-) The Nationals ended an 11-game losing streak and avoided a sweep when they beat the Rockies on Thursday. Then they went out west and lost a series to the Dodgers. With solid young players on the team, the Nationals are building for the future. Advertisement Fans should not be bothered by a low ranking in the MLB Power Rankings. They should be fired up about James Wood, who has an .867 OPS in 20 games this June. Washington has only won four of those games. The Nationals finish out their road trip against the Padres and Angels. #27: Pittsburgh Pirates (-) The Pirates lost the first two games to the Tigers before avoiding a sweep in Game 3 and repeated that formula against the Rangers. They won their Paul Skenes start this week, winning 8-4 in extras after the ace went six innings and allowed two runs. The Pirates' offense continues to put up dreadful numbers with the second-worst OPS of any team in the majors, ahead of only the White Sox. The season is slipping away, and they look to save it against the Brewers and Mets. #28: Miami Marlins (-) The Marlins lost three of four to the Phillies and took two of three against the Braves this week. They aren't going to secure a playoff spot in the deep National League, but they are winning some games. Advertisement Sandy Alcantara has been great in his last four starts with a 2.74 ERA and a 2-1 record. That could mean a big return coming for the Marlins at the trade deadline or in the offseason. Otherwise, it is a bleak future for Miami this season. They play the Giants and Diamondbacks on a West Coast road trip this week. #29: Chicago White Sox (-) The White Sox got swept by the Cardinals but bounced back with a series win over the Blue Jays over the weekend. Their first win over Toronto ended an eight-game losing streak, which is their second such streak of the season. They are on pace for 52 wins, which would be a drastic improvement over last year. But they could be massive sellers at the MLB trade deadline and end up back in the 40s. Could Luis Robert and Andrew Benintendi be on the way out? The White Sox play the Diamondbacks and Giants at home this week. #30: Colorado Rockies (-) Dale Zanine-USA TODAY Sports The Rockies are hot! They are 5-3 in their last eight games and won their second series of the season by beating the Nationals. They are 18-60 and still on pace to smash the 2024 White Sox's record of 121 losses. Advertisement While the Rockies continue losing games, they are looking ahead to the trade deadline. Could they sell off everyone? Or are they so bad that they do not have valuable pieces? This week, they host the Dodgers and visit the Brewers. Related: MLB rumors: Yankees, Giants monitoring Pirates for trade Related: MLB rumors: Cubs among 5 other teams Red Sox talked Rafael Devers trade with before Giants deal
CNN
an hour ago
- Politics
- CNN
Eric Adams denies rumored deal with Trump over dropped ‘bogus charges'
CNN's Jake Tapper speaks with New York Mayor Eric Adams (D) about his 2025 re-election bid as an Independent and whether he made a deal with Donald Trump.
