Google-Backed Software Firm Motive Technologies Details IPO Plans 2026 is shaping up to be a busy year for tech IPOs. Add Motive Technologies to the list. The AI-enabled fleet management software firm filed its Form S-1 registration statement with the Securities and Exchange Commission on Tuesday, saying it had applied to list on the New York Stock Exchange under the symbol "MTVE." Tech firms expected to file for IPOs next year include OpenAI, SpaceX, and Anthropic. San Francisco-based Motive, whose Series F convertible preferred stock owners include Alphabet's (GOOGL) Google Ventures, said revenue for the nine months through Sept. 30 rose 22% year-over-year to $327 million.

"Since January 1, 2023, we estimate that our platform helped prevent over 170,000 accidents, saved 1,500 lives, and in 2024, delivered over $175 million in fuel and fraud savings to our customers," the filing said. "On average, customers that used our AI Dashcam reduced collisions by 80%."

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Shares of Dynamax Are Up Nearly 40% Today. Here's Why The Stock Is Flying

Shares of Dynavax Technologies (DVAX) skyrocketed after French drugmaker Sanofi (SNY) said it would buy the biopharmaceutical firm for $2.2 billion to expand its Hepatitis B offerings and enter the shingles vaccine market. Sanofi said it would be paying Dynavax investors $15.50 per share in cash, a 39% premium to its closing price yesterday. Dynavax shares were recently trading just a few cents below Sanofi's price for its shares. The transaction is expected to close in the first quarter of next year. Dynavax currently has regulatory approval for its Heplisav-B Hepatitis B shot, a two-dose regimen for adults given over a month’s time. It also is in a Phase 1/2 trial of a shingles treatment called Z-1018, and has other candidates in the works. Sheldon Cooper / SOPA Images / LightRocket via Getty Images Thomas Triomphe, executive vice president of vaccines at Sanofi, said the additions of Heplisav-B and Z-1018 “bring new options to our portfolio and underscore our commitment to providing vaccine protection across the lifespan.” Sanofi said there is an “unmet need” for Hepatitis B and shingles treatments, as nearly 100 million people in the U.S. who were born before 1991 are unvaccinated. Dynavax CEO Ryan Spencer said the deal "will provide the global scale and expertise needed to maximize the impact of our vaccine portfolio." Shares of Dynavax have spent most of 2025 in negative territory, but with today’s gains they’re now up about 19% year-to-date. -Bill McColl

A Software Stock Is Joining a MidCap Index. Its 2025 Climb Is Continuing

Shares of UiPath rose Wednesday on news that the business software company will join the S&P MidCap 400 Index. S&P Dow Jones Indices said UiPath (PATH) would become part of the index prior to the opening of trading on Friday. It will replace Synovus Financial (SYN), which is being acquired by Pinnacle Financial Partners (PNFP) in a deal expected to close soon. S&P Dow Jones also said that Versant Media Group (VSNTV), a spinoff of media giant Comcast (CMCSA) would replace Brandywine Realty Trust (BDN) in the S&P SmallCap 600 Index ahead of the open on Jan. 6. The spinoff is anticipated to be completed a day earlier. UiPath has seen its shares rise some 30% in 2025. Thomas Fuller / SOPA Images / LightRocket via Getty Images Comcast is set to remain in the S&P 500 Index. A number of updates to the makeup of the S&P 500 have recently been announced. Inclusion in an index can be beneficial to a stock, because it becomes exposed to more potential investors and allows it to be included in funds that track those indices. UiPath shares were up some 5% in recent trading. They have added about 30% of their value this year. -Bill McColl

Nike Leads Dow After Apple CEO Cook Buys Shares Apple (AAPL) CEO Tim Cook evidently is confident that Nike (NKE) shares can make a comeback. A regulatory filing revealed that Cook bought nearly $3 million worth of Nike stock on Monday, acquiring 50,000 shares at a weighted average price of $58.97. Nike shares jumped in response, rising more than 4% to pace Dow advancers Wednesday. Even with today's surge, Nike shares have lost about 20% of their value this year.

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BP to Sell 65% in Castrol Business Oil giant BP (BP) agreed to sell a 65% stake in its Castrol lubricants business to investment firm Stonepeak. BP is to take in about $6 billion for the sale, which is expected to be completed by the end of 2026. The move is part of the oil company’s efforts to focus its business on oil production after its shift to more renewable energy delivery proved unpopular with investors. Igor Golovniov / SOPA Images / LightRocket via Getty Images "The sale marks an important milestone in the ongoing delivery of our reset strategy," said BP interim CEO Carol Howle. Meg O’Neill will become the company's CEO in April. U.S.-listed shares of BP edged 0.3% lower before the opening bell. -Terry Lane

Even Santa Isn't Immune to Today's Tough Job Market

Having a real beard is worth an extra $9 an hour for people who work as Santas, an analysis of job postings found.

Demand for Santas with real beards has surged over the past three years, and their pay has gone up accordingly, even as the overall number of Santa jobs has declined, according to a report Tuesday by Revelio Labs, a data analytics company. Pay advertised for real Santas with real beards averaged $30.84 an hour compared to $21.83 for those who must don false whiskers. Marcus Ubungen / Los Angeles Times via Getty Images Revelio created the report by analyzing job postings on professional networking websites.

In some ways, the trend among Santas mirrors the trajectory of the overall job market: there are fewer jobs available, while workers with in-demand skills are commanding higher salaries. Read the full article here. -Diccon Hyatt

Michael Saylor Has a New Story to Tell. Strategy 'Goes Beyond Bitcoin Exposure'

Bitcoin crusader and Strategy front-man Michael Saylor has a new story to tell about his company. Some experts think it could help revive the company's beleaguered stock. For years, the company and its shares attracted a loyal following as a bitcoin proxy. Lately, though, they have lost some luster: As spot bitcoin funds got bigger and crypto businesses proliferated on major exchanges, giving traders more ways to play crypto, the stock started to slide and investors fretted that the company would be driven to sell its bitcoin for the first time. Pullbacks in crypto markets and worries that the stock could be removed from some indexes have Strategy—and Saylor—under some fire. Strategy, once mainly an enterprise software company, has under Michael Saylor's guidance become a bitcoin play. Jason C. Andrew / Bloomberg via Getty Images So what's their move? Saylor, the company's executive chairman, has revamped his pitch about the company, which he now calls a "capital markets platform." That might help revive a stock down more than 45% year-to-date, far further than the roughly 6% drop in bitcoin over the same period. "What we’re building goes beyond bitcoin exposure," Saylor told Investopedia Monday. "It’s a capital markets platform: Digital Money built on Digital Credit, secured by Digital Capital. That’s not something an ETF or a fund structure can replicate." Read the full article here. -Crystal Kim

Will the Santa Claus Rally Deliver This Winter—and Lift Stocks in 2026?

If Santa delivers this Christmas, investors could be cheering through 2026. The so-called Santa Claus rally describes the historical tendency for stocks to rise over the final five trading days of December and the first two trading days of the new year—in this season's case meaning the period from Christmas Eve through Monday, Jan. 5. Historically, the rally range has been good for stocks. Its average gains have been around 1.3% over that seven-day stretch since 1950—not a huge pop, perhaps, but still better than the 0.2% average return notched over "typical" 7-day periods, according to Invesco research. The "Santa Claus Rally" period is generally associated with year-end stock gains. Spencer Platt / Getty Images Why does this happen? Some attribute it to the generally festive atmosphere, while others suspect a lack of liquidity that allows retail investors to take the wheel from institutions and professionals who step away for the holiday. Read the full article here. -Crystal Kim