BofA Bears

Bending Spoons, the company that owns AOL, has filed for an IPO on the Nasdaq, targeting a valuation of $20 billion to $22 billion, according to Bloomberg, a roughly 40% step up from its last private valuation of $14.5 billion in 2025. The Italian tech company, which in addition to AOL owns Vimeo, Evernote, and WeTransfer, has built its business around a playbook to acquire struggling subscription apps, cut headcount, and hand operations to engineers. In response, monthly active users have ballooned to 500 million from 111 million in December 2023, paying customers have tripled to 9 million, and Q1 2026 revenue hit $601 million, more than double the $259 million posted a year earlier. Q1 net income came in at $27.5 million after a $112 million loss in the same period last year. Goldman Sachs, JPMorgan and Allen & Co. are handling the underwriting.

Citi is planting its flag firmly in the bull camp, lifting its year-end S&P 500 target to 8,100 from 7,700, a call that implies more than 9.Citi is planting its flag firmly in the bull camp, lifting its year-end S&P 500 target to 8,100 from 7,700, a call that implies more than 9.5% upside from Friday’s close. Strategist Scott Chronert is projecting S&P 500 earnings of $350 per share in 2026, climbing to $400 in 2027, with the AI buildout serving as the primary engine behind the upgrade. “AI tailwinds are fueling an episodic fundamental surge across related sectors,” Chronert wrote. “We have high confidence in continued earnings beats through year-end.” The raised target puts Citi in line with the growing chorus of Wall Street firms betting that artificial intelligence spending will keep corporate profit growth running well ahead of broader economic headwinds.