MORNING NEWS

NextEra Energy agreed to buy Dominion Energy in a roughly $67 billion deal that would create the largest U.S. electricity producer and represent one of the biggest tie-ups of the year. The companies said Monday that they plan to combine in a mostly stock deal. NextEra is offering the equivalent of around $76 a share to Dominion shareholders, based on Friday’s closing stock prices. In addition, they will receive a one-time cash payment of $360 million once the deal closes, the companies said. Dominion Energy shares surged 12% to $68.88 shortly after the opening bell, while NextEra dropped 4% to $89.51.

LVMH Moët Hennessy Louis Vuitton agreed to sell the fashion brand Marc Jacobs to WHP Global and G-III Apparel Group in a $850 million deal. The two buyers agreed to pay $425 million each to buy the brand and split ownership 50/50, according to a Thursday filing. The deal would move designer Marc Jacobs’s brand away from the company behind Louis Vuitton, Dior and Fendi after nearly three decades at LVMH. G-III, which owns Karl Lagerfeld and dozens of licenses for several other fashion brands, would manage Marc Jacobs’s operating business, including direct-to-consumer and wholesale.

AI chip maker Cerebras priced its initial public offering far above expectations on Thursday, and the shares rose 68% from there on their first day of trading on the Nasdaq. Many investors clamoring to get a piece of the IPO received fewer shares than they wanted or nothing at all, forcing them to buy stock in the open market.

Zurich started 2026 on a growth path. The group saw particular expansion in property and casualty insurance. The company benefited from further rate increases, while initiatives to boost business in specialty insurance and with middle-market clients bore fruit. In the property and casualty segment, Zurich’s insurance revenue increased by 11 percent to $12.0 billion in the months of January through March, as the group announced on Wednesday. Meanwhile, gross premium volume jumped 17 percent to $15.6 billion. On a comparable basis, growth remained at 8 percent. In life insurance, gross premiums grew by 5 percent to $9.85 billion. On a comparable basis, however, there was a 5 percent decline.

The Italian regulatory authority AGCM has launched an investigation into the joint 5G rollout project between Telecom Italia Mobile (TIM) and Swisscom subsidiary Fastweb. The investigation aims to determine whether the collaboration impairs competition, according to the authority’s weekly bulletin released on Monday. TIM and Fastweb announced their collaboration on the 5G rollout earlier this year.

ABB announced today that it is investing around $200 million in its medium-voltage manufacturing capabilities across Europe over the next three years to expand production capacity, accelerate the transition to next-generation technologies for power distribution and strengthen supply for customers that are modernizing their power infrastructure. This includes utilities, industry, and rapidly growing data center markets. According to the International Energy Agency, electricity's share of final energy consumption is expected to rise from around 20 percent today to nearly 30 percent by 2030, highlighting the urgency and scale of grid expansion. This program builds on recent investments in ABB's UK and Hungary operations.

Airbnb raised its full-year outlook, as strong global travel demand helped offset an influx in cancellations around the Iran war. The short-term rental company said it now anticipates annual sales will increase by a low- to midteen percentage.

Wegovy maker Novo Nordisk lifted full-year guidance on surging demand for its new weight-loss pill. The Danish drugmaker said total prescriptions for the Wegovy pill reached around 1.3 million in the first quarter and now exceed 2 million since it launched.

Advanced Micro Devices logged higher profit and revenue in its latest quarter as its data center business continues to boost results. The chip maker posted a first-quarter profit of $1.38 billion, or 84 cents a share, compared with $709 million, or 44 cents a share, a year earlier. Adjusted earnings per share were $1.37, compared with estimates of $1.29 a share, according to analysts polled by FactSet. Revenue jumped 38% to $10.25 billion, compared with analyst estimates of $9.9 billion.

Chip startup Cerebras Systems will offer 28 million shares in its planned initial public offering at a price of $115 to $125 a share. The IPO would raise $3.5 billion at the upper end of the pricing range. Cerebras will grant the underwriters of the offering a 30-day option to purchase up to an additional 4.2 million shares. Morgan Stanley, Citigroup, Barclays, and UBS Investment Bank will act as lead book-running managers for the offering. Cerebras, a chip startup that makes processors customized for running advanced artificial-intelligence models, filed paperwork last month to go public.