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Toyota just became $JOBY Aviation’s biggest shareholder with a 15.3% stake after investing $250M—the first half of a $500M commitment. The move brings Toyota’s total funding in the eVTOL maker to $894M, as Joby targets commercial air taxi service in Dubai by early 2026. - BBG https://t.co/RVRdGZ9rpI
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Eli Lilly $LLY is buying SiteOne Therapeutics for up to $1B to expand into non-opioid pain treatment. The deal gives Lilly access to STC-004, a Nav1.8 inhibitor aimed at chronic pain—part of its broader push beyond obesity and into safer pain therapies.
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Stifel Maintains Buy Rating on $OKTA, Raises PT to $130 from $120

Analyst comments: "Okta delivered a solid F1Q26 print, with all key metrics above guidance and/or Stifel/street estimates. That said, shares traded off 12%+ in after-hours given the cRPO beat (cRPO grew 14%-Y/Y, above guidance of 12%-Y/Y) was below some whisper numbers (we heard 15%-16% Y/Y), along with the fact that F2Q26 cRPO guidance was modestly below consensus (but in line with our forecast), as well as higher short interest and strong YTD performance (+59% YTD vs. Nasdaq [-0.6%]). In terms of fundamentals, there were a number of bright spots including: 1) early signs that Okta's GTM changes are progressing, 2) improving Auth0 and new logo traction, and 3) continued momentum across newer products, etc. Regarding the macro/guidance, management notes of no impacts in the April quarter (and early May), but is baking in additional conservatism to guidance (e.g., FY26 top-line guidance was reaffirmed; profitability goes higher but by less than the beat)."

Analyst: Adam Borg
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The EU 🇪🇺 is planning to urge member states to cut water use by 10% by 2030, per the FT. The first-ever efficiency target comes amid worsening droughts and groundwater depletion, with southern Europe at particular risk. Leaks still waste about 25% of the EU's water supply.
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TSMC & ASE are facing growing shortages of key AI packaging materials, per local reports. Japanese suppliers like Asahi Kasei & Mitsubishi Gas are struggling to keep up with surging demand. Asahi is tightening PSPI supply, while BT resin delays now stretch 4–5 months. (@dnystedt)
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Robinhood $HOOD is rolling out its desktop trading platform, Robinhood Legend, to UK users starting Wednesday. https://t.co/VaBn7jZakL
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Moody’s U.S. 🇺🇸 downgrade has triggered Hong Kong’s 🇭🇰 10% cap on Treasuries for MPF pension funds, per Reuters. The regulator is urging managers to prep compliance plans and rebalance portfolios.
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Vail Resorts $MTN CEO Kirsten Lynch has stepped down, with Executive Chair Rob Katz returning as chief executive. Katz, who led the company from 2006 to 2021, takes over as skier visits dip 3.1% YTD. Vail reaffirmed its FY25 EBITDA outlook, expecting results in the lower half of its March forecast.
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SHEIN TARGETS HONG KONG IPO AFTER UK PLANS STALL — Reuters reports Shein is now aiming to file a draft prospectus in Hong Kong within weeks after failing to secure Chinese regulatory approval for a London listing. The fast-fashion giant still hopes to go public this year.
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EXXON IN TALKS TO SELL MOST OF ITS FRENCH BUSINESS — $XOM has entered exclusive talks to offload its 82.89% stake in Esso SAF to North Atlantic France SAS. The deal, expected to close in Q4 pending approvals, marks another step in Exxon’s broader exit from France.
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Ahead of WWDC, Apple $AAPL says it stopped $2B in fraudulent transactions, rejected 1.7M risky apps, and shut down 146K dev accounts last year
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A record 71% of EU firms say China’s weakening economy is their biggest challenge, ahead of US-China tensions (47%), per EU Chamber survey. Only 12% expect profitability to improve, and 73% say doing business got harder. https://t.co/HP7XIRFTuS
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TAIWAN REVISES 2025 GDP FORECAST TO +3.10% FROM +3.14%; TAIWAN PRELIM 1Q GDP RISES 5.48% Y/Y; EST. +5.40%
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SAUDI AI GIANT HUMAIN TO LAUNCH $10B VC FUND — Backed by the $940B Public Investment Fund, Saudi Arabia’s new AI firm Humain is in talks with OpenAI, xAI, and A16Z, per FT. It’s targeting 7% of global model training by 2030 and has inked $23B in deals with $NVDA, $AMD, AWS, and $QCOM.
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WMO says there’s an 80% chance the world sees another record hot year by 2030, with at least one year likely to top 2024 — the hottest on record. Temps are projected to run 1.2°C to 1.9°C above pre-industrial levels, raising risks of extreme weather and economic disruption. https://t.co/ExDitkk6IS
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One in five CEOs at top 50 carmakers stepped down over the past year, as EV disruption, Chinese competition, and tariff risks shake up the industry, per FT. CEO turnover now outpaces other sectors, with Stellantis, Volvo, Nissan, and Lucid all making leadership changes. https://t.co/oNSpt5jvMD
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Apple's $AAPL iPhone shipments from India to the US jumped 76% in April to 3 million units, while shipments from China dropped 76% to just 900,000, per Omdia via CNBC.
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