In today’s briefing:
- [Quiddity Index Jun25] S&P500/600 Jun25 Rebal: Final Predictions APP and IBKR
- US – China: Restrictions on Semiconductors Are Getting Worse
- Circle Internet Group (CRCL): Wall Street Pounces on Stable Coin Powerhouse, IPO Pops 235%
- AMD Just Made a Big Move in AI and Co-Packaged Optics: Here’s What Investors Need to Know!
- Zscaler’s $675 Million Acquisition Of Red Canary—Here’s How It Could Reshape Cybersecurity & The $5 Billion SOC Race!
- Eli Lilly’s Bold Move: Can the SiteOne Acquisition Knock Vertex Off Its Pain Drug Throne?
- Check Point Makes A Bold Bet with Veriti: Can Preemptive Security Reinvent Cyber Risk Management?
- Global Macro Outlook (June): From Rally to Reversal? Macro Trends Shift as June Unfolds
- Is OGE Energy Powering America’s Next Boomtowns with Unstoppable Customer Growth?
- Motorola Just Spent $4.4 Billion On Battlefield-Grade Wireless Networks— Inside The Silvus Technologies Power Play!
[Quiddity Index Jun25] S&P500/600 Jun25 Rebal: Final Predictions APP and IBKR
- The S&P 500 index tracks the 500 largest names listed in the US and it is one of the most highly-tracked indices in the world.
- The rankings used for the June 2025 index rebal event will be based on yesterday’s (4th June 2025) opening prices. The announcement will be after the close on Friday.
- In this insight, we take a look at our final expectations for ADDs/DELs (along with a tracker of all live spinoff/M&A events which affect the index the next two quarters).
US – China: Restrictions on Semiconductors Are Getting Worse
- Nvidia H20 sales to China were barred last month. Nvidia first mentioned designing a new China-specific chip. Maybe not: it looks very difficult to work around the updated US limits
- Semiconductor design software was barred last week. Synopsys suspended its guidance. My industry checks suggests that the ban applies to Xiaomi (ie the new smartphone chip) and to Lenovo.
- Hanmi Semi stopped shipping TC Bonder to Chinese clients. This is critical to make HBM memory that goes into AI processors.
Circle Internet Group (CRCL): Wall Street Pounces on Stable Coin Powerhouse, IPO Pops 235%
- Circle Internet Group, Inc. priced 34.0mm shares at $31.00 ($3 Above the Upwardly-Revised $27-$28 range) and opened at $69.00 for a gain of 123% at first trade.
- The IPO traded violently higher with a top-tick of $103.75 for a gain of 235%. The stock closed at $83.23 or 168.5% above issue on day one.
- Circle is a “one-of-a-kind” industry and one that does not have other public companies to compare to. This could mean that more “fireworks” are in store for the short term.
AMD Just Made a Big Move in AI and Co-Packaged Optics: Here’s What Investors Need to Know!
- In a strategic move underscoring its ambitions in AI infrastructure and next-gen interconnects, AMD recently acquired Silicon Valley-based Enosemi, a startup specializing in photonic integrated circuits.
- The acquisition is part of AMD’s broader effort to catch up with competitors like Nvidia, Intel, and Broadcom in the co-packaged optics (CPO) space, a technology increasingly viewed as essential for building high-bandwidth, energy-efficient AI systems.
- Enosemi, founded in 2023 by semiconductor engineers Ari Novack and Matthew Streshinsky, had previously collaborated with AMD on photonics development and brings with it a small but elite team of PhD-level engineers.
Zscaler’s $675 Million Acquisition Of Red Canary—Here’s How It Could Reshape Cybersecurity & The $5 Billion SOC Race!
- Zscaler, a major force in cloud-based cybersecurity, has officially signed a definitive agreement to acquire Red Canary, a recognized leader in Managed Detection and Response (MDR), in a strategic push to redefine security operations through AI and data integration.
- The acquisition, expected to close in August 2025, marks Zscaler’s second major deal in the past 18 months after acquiring Avalor, a security data fabric provider.
- Red Canary brings more than $140 million in annual recurring revenue (ARR), a seasoned MDR go-to-market team, and agentic AI workflows already deployed in production.
Eli Lilly’s Bold Move: Can the SiteOne Acquisition Knock Vertex Off Its Pain Drug Throne?
- Eli Lilly and Company has made a decisive move to expand its footprint in neuroscience and pain management by announcing its acquisition of SiteOne Therapeutics, a clinical-stage biotech focused on developing non-opioid pain treatments.
- The deal, valued at up to $1 billion including milestones, centers around STC-004, a Phase 2-ready NaV1.8 inhibitor that could become a next generation oral pain medication.
- The acquisition underscores Lilly’s broader ambition to lead in addiction-free, chronic pain solutions at a time when regulatory and societal pressures around opioid misuse continue to rise.
Check Point Makes A Bold Bet with Veriti: Can Preemptive Security Reinvent Cyber Risk Management?
- In a strategic move that signals a shift toward automated, prevention-first cybersecurity, Check Point Software Technologies has announced its acquisition of Veriti Cybersecurity, a pioneering Israeli startup specializing in preemptive threat exposure management.
- The transaction, valued at over $100 million, is expected to close by the end of Q2 2025 and marks the first major acquisition under new CEO Nadav Zafrir.
- The deal comes at a time when Check Point is pushing hard on its hybrid mesh architecture vision and doubling down on its Infinity Platform to unify security across endpoints, cloud, and networks.
Global Macro Outlook (June): From Rally to Reversal? Macro Trends Shift as June Unfolds
- Most major indices extended their April rally through May, but seasonal patterns suggest caution from here.
- Implied volatility declined across most markets, but remains above historical medians in several key regions.
- Vol premium analysis highlights a few standouts where short vol has historically outperformed.
Is OGE Energy Powering America’s Next Boomtowns with Unstoppable Customer Growth?
- OGE Energy Corp reported consolidated first-quarter earnings of $0.31 per diluted share, driven predominantly by Oklahoma Gas and Electric Company (OG&E), which contributed $0.35 per share.
- A loss of $0.04 per share from the holding company slightly offset this performance.
- The top-line performance was supported by strong operational metrics and increased demand for electric services, reporting an 8% increase in demand year-over year in key residential and commercial sectors.
Motorola Just Spent $4.4 Billion On Battlefield-Grade Wireless Networks— Inside The Silvus Technologies Power Play!
- Motorola Solutions has made its boldest move in years with the $4.4 billion acquisition of Silvus Technologies, a Los Angeles-based company specializing in software-defined mobile ad hoc networks (MANETs) for mission-critical communications.
- The deal, announced on May 27, 2025, marks a significant strategic pivot as Motorola deepens its focus beyond mission-critical voice and expands aggressively into high-bandwidth, infrastructure-less communications that support video, sensors, and autonomous systems in contested environments.
- Silvus’ technology, already battle proven in the Ukraine conflict and widely adopted by U.S. and allied militaries, enables real-time decentralized communications across hundreds of connected nodes.
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