Key headlines from global financial media overnight and this morning include:
1. Tesla's weak delivery figures may become a persistent trend, with investors focusing on projects like Terafab. 2. SpaceX has confidentially submitted IPO documents, with a potential valuation exceeding $1.75 trillion. 3. Nike's stock plunged 15%, marking its worst single-day performance in about a year. 4. Eli Lilly's oral GLP-1 weight-loss drug received FDA approval, featuring once-daily dosing without dietary restrictions. 5. Oil prices retreated towards $100 per barrel after former President Trump suggested the conflict could end within weeks. 6. Iranian President Pezeshkian addressed the American people in an open letter, stating Iran has never initiated a war.
**Tesla's Weak Deliveries May Signal a New Normal; Investors Focus on Terafab and Other Projects** Despite Elon Musk's ambition to stake Tesla's future on artificial intelligence, he still relies on vehicle sales to fund these initiatives—and the automotive business is facing increasing challenges. Analysts estimate that Tesla delivered approximately 372,160 vehicles in the past three months. While this represents an 11% year-over-year increase, it remains on the lower end of the company's recent quarterly delivery figures. Sales early last year were hampered by multiple factors, including backlash surrounding Musk's role in the Trump administration and production halts related to the redesign of the best-selling Model Y.
**SpaceX Reportedly Files Confidential IPO Documents; Valuation Could Exceed $1.75 Trillion** According to informed sources, SpaceX, the rocket, satellite, and artificial intelligence company led by Elon Musk, has confidentially submitted documents for an initial public offering (IPO). Sources indicated that the company has filed registration statements with the U.S. Securities and Exchange Commission and could go public as early as June. This would position SpaceX as the first mega-IPO to debut, ahead of OpenAI and Anthropic PBC. The IPO could value SpaceX at over $1.75 trillion, sources added. The company previously acquired Musk's AI startup xAI, a transaction that valued the combined entity at $1.25 trillion.
**Nike Plummets 15%, Recording Worst Single-Day Performance in About a Year** Nike's stock is heading for its worst single-day drop in approximately a year after the athletic retailer issued a weak outlook. Shares of the Oregon-based company tumbled more than 15% in late trading. If sustained through the close, this would mark the steepest daily decline since early April 2025, when the stock fell 14.4%.
**Eli Lilly's Oral GLP-1 Weight-Loss Drug Receives FDA Approval; Once-Daily Dosing with No Dietary Limits** Eli Lilly's shares rose 4.15% during the session after the company announced FDA approval for Foundayo (orforglipron), a once-daily oral GLP-1 therapy for treating obesity or overweight adults with related conditions. This medication is the first oral tablet in its class that can be taken without food or water restrictions. It offers a convenience advantage over Novo Nordisk's oral semaglutide (the oral form of Wegovy), which requires strict administration conditions, including taking it on an empty stomach.
**Oil Prices Fall Towards $100 After Trump Suggests Conflict Could End in Weeks** International crude prices declined on Wednesday as investors weighed former President Donald Trump's statement that the conflict could be resolved within weeks, despite the Strait of Hormuz remaining largely closed. The May futures contract for West Texas Intermediate crude fell $1.26, or 1.24%, to settle at $100.12 per barrel, while the June Brent crude futures contract dropped $2.93, or 2.82%, trading around $101.04 per barrel. The global benchmark had surged over 60% last month, recording its strongest monthly gain since 1988. The May contract had settled about 5% higher on Tuesday at $118.35 per barrel.
**Iranian President Pezeshkian's Open Letter to the American People: Iran Has Never Initiated a War** Iranian President Masoud Pezeshkian issued an open letter to the American people on Wednesday, urging them to look beyond political rhetoric and reconsider Iran's past, present, and vision for the future—a future that should be defined not by confrontation, but by truth, dignity, and mutual understanding. He stated that in a world filled with conflicting narratives and deep geopolitical tensions, Iran-U.S. relations remain one of the most misunderstood bilateral relationships. Pezeshkian emphasized that throughout modern history, Iran has never chosen a path of aggression, expansion, colonization, or hegemony, nor has it ever initiated any war.
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