Wall Street Breakfast ServiceNow eyes biggest deal
Mar 10, 2025
ServiceNow is on the brink of its biggest acquisition yet, eyeing a $3 billion deal with Moveworks. The S&P 500 welcomes new players like DoorDash and Williams-Sonoma while political shifts are afoot with Mark Carney potentially replacing Justin Trudeau in Canada. Meanwhile, Taiwan Semiconductor showcases impressive revenue growth, and India's Sun Pharma makes headlines with a $355 million acquisition. Discussing innovation, Peng is also looking to bring flying cars and humanoid robots to production by 2026!
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ServiceNow's Major AI Acquisition
- ServiceNow is close to acquiring MoveWorks, an AI firm, for nearly $3 billion, marking its biggest deal yet.
- MoveWorks serves 350+ enterprises and surpassed $100 million in annual recurring revenue recently.
S&P 500 Index Changes
- DoorDash, TKO, Williams-Sonoma, and Expand Energy will join the S&P 500 on March 24.
- Several companies, including Borg Warner and FMC, will be removed from the index.
Mark Carney's Political Rise
- Mark Carney, former Bank of Canada and Bank of England governor, is elected leader of Canada's Labour Party.
- He will succeed Justin Trudeau and could become prime minister by late October election.