On June 9, I’m launching a weekly newsletter at Bloomberg News, focusing on CFOs and business through the lens of corporate finance. Bloomberg’s CFO Briefing will hone in on corporate finance and other topics that matter to executives, including technology, geopolitics and economics, harvesting Bloomberg Terminal data. It will also serve as a launchpad for offerings for TV, radio, podcast and events at a later point in time.
Nvidia Leads Companies Minting Money as Interest Earned From Cash Surges
With interest rates at more than decade-highs, corporate finance chiefs are finding that money can indeed beget money.
Billionaire-Led QXO Hires Barclays Banker as First Finance Chief
QXO Inc., the new company of trucking billionaire Brad Jacobs, hired a Wall Street banker to run its finances as it gets closer to becoming a publicly-traded business.
S&P 500 Companies Boost Profit by Stripping More Items From Earnings
Large US companies are bolstering their adjusted earnings per share by excluding items such as litigation expenses and amortization of intangible assets from their net income, even as regulators scrutinize such practices, a new analysis finds.
ExxonMobil’s Formula for M&A Success: 1 + 1 = 3
“When we think about M&A, we need one and one to equal three.” ExxonMobil CFO Kathryn Mikells talked me through the oil giant’s outlook for deals and how to achieve $2 billion in synergies a year.
More Companies Are Selling Shares to Help Cut Debt
More firms are going public to raise capital for debt reduction. Companies completed $28.5 billion of IPOs in the year through April citing debt repayment as one of the uses of proceeds, an increase of 56% from the prior 12 months, data compiled by Bloomberg show.
US Companies Have $1.76 Trillion Opportunity to Free Up Cash
With rates expected to stay high for a while, corporate finance chiefs have a strong incentive to skip debt markets and free up more of their companies’ cash instead. And it turns out, they have plenty of it.
Zoom Still Open to Five9-Style M&A, Says CFO Steckelberg
It’s been roughly two-and-a-half years since Zoom’s shareholders rejected the nearly $15 billion takeover of call-center provider Five9. Now, Zoom is reopening the door to larger deals, CFO Kelly Steckelberg tells Bloomberg News.
Honeywell CFO Greg Lewis Talks Asset Sales, Avoiding Tiny M&A
Honeywell has been busy striking deals. CFO Greg Lewis said the conglomerate wants to pursue additional acquisitions while also shedding some assets, as about 10% of the portfolio don’t fit its strategy.
Carrier CFO Goris Talks Divestments, Debt and Buybacks
Carrier in April 2023 agreed to spend more than $10 billion to acquire Germany’s Viessmann Climate Solutions business and launched a revamp of its portfolio, which included selling its security business to Honeywell. Here’s how CFO Patrick Goris thinks about the current shape of the business and the potential for share repurchases.