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BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
38.27% for Wk of Apr 18 2024 (Last week: 43.44%)

Market Recap:

• US stock futures down post-Meta Platforms earnings

• Dow, S&P 500, Nasdaq futures drop

• Meta plunges 15%, IBM falls 8% after earnings miss

• Today: Q1 GDP data, jobless claims watched Thursday

• Fed rate path influenced by data, futures suggest cut in Sept

• Earnings reports due from Caterpillar, Honeywell, Northrop Grumman, American Airlines, Comcast, Merck, Bristol-Myers Squibb

EARNINGS

What we’re watching this week:

• Today: American Airlines (AAL), Caterpillar (CAT), Hertz Global (HTZ), Roku (ROKU), Teladoc (TDOC)

  • Alphabet (GOOGL) - $1.89 EPS expected on $69.78B revenue

  • Microsoft (MSFT) - $2.82 EPS (+15.1% YoY) on $60.8B revenue (+14.9% YoY)

• Friday: AbbVie (ABBV), Chevron (CVX), Exxon Mobil (XOM)

Full earnings calendar here

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HEADLINES

Biden Signs Israel, Ukraine, TikTok Bill Into Law

US Chamber of Commerce, Business Groups Due FTC Over Noncompete Ban

• Wall St edges lower as rising yields overshadow upbeat corporate results (more)

• Tepid core capital goods orders point to weak business equipment spending (more)

• Caterpillar, Deere inventories in focus as machinery demand plateaus (more)

• Gold trades steady after a two-day decline (more)

• What happens now that Biden has signed the TikTok bill (more)

  • TikTok CEO expects to defeat US ban: 'We aren't going anywhere' (more)

• Non-competes: For traders, the FTC ban comes with big catches (more)

• Meta extends rout after revenue forecast disappoints (more)

• Ford tops first-quarter earnings estimates as commercial unit offsets EV losses (more)

• Boeing lost less revenue than expected amid safety crisis (more)

• Citi’s Fraser is wary of insurance giants’ role in private credit (more)

• Cisco says hackers subverted its security devices to spy on governments (more)

• Foot Locker debuts ‘store of the future’ as it looks to win back Wall Street’s confidence (more)

• NYCB faces tough choices on CRE loans, balance sheet diversification (more)

• KKR Raises $11B for its newest Global Infrastructure Fund (more)

DEALFLOW

M+A | Investments

• IBM to acquire HashiCorp in $6.4 Billion deal (more)

• Blackstone to buy Tropical Smoothie Cafe in $2B deal (more)

• Nvidia acquires AI workload management startup Run:ai for $700M (more)

• KKR considers $1 Billion acquisition of Healthium Medtech (more)

  • KKR shelves $10B Upfield sale after ADQ talks fall apart (more)

• BDT & MSD near sale of Marquette to Redwood Capital (more)

• Black Bay-backed Merichem Technologies buys CPI (more)

• Godspeed Capital acquires IDCUS (more)

• MassMutual invests in Apollo’s Atlas SP (more)

• Granite Creek invests in DCG (more)

• The Stephens Group invests in VisionSafe (more)

• KnowBe4, a provider of security awareness training and simulated phishing platform, acquires Egress Software Technologies, a company specializing in cloud email security (more)

• VisionSafe, a provider of an aircraft cockpit smoke displacement systems, received an investment from Stephens Group (more)

• IANS Research, a provider of independent research and advisory services for the information security industry, received a strategic investment from Apax Digital Funds (more)

VC

• Xaira Therapeutics, an integrated AI biotech company, launched with more than $1 Billion of committed capital (more)

• Endeavor BioMedicines, Inc., a clinical-stage biotech company, closed a $132.5M Series C financing (more)

• ThreatLocker, a global cybersecurity company that offers a Zero Trust endpoint security solution, raised $115M in Series D funding (more)

• Lumeris, a value-based care managed services operator for health systems and providers, raised $100M in equity growth funding (more)

• Midi Health, a virtual care clinic for women navigating menopause, raised additional $60M in Series B funding (more)

• Tines, a company specializing in smart and secure workflows, raised $50M in new funding, as an extension to its Series B (more)

• Nagomi Security, a proactive security and threat exposure management company, raised $30M in funding (more)

• FinQuery, a provider of AI-powered solutions to manage companies’ largest areas of spend, received a $25M minority investment (more)

• Nooks, an AI dialing & prospecting platform, raised $22M in Series A funding (more)

• Sublime Security, a provider of an AI-powered, programmable email security platform, raised $20M in Series A funding (more)

• BforeAI, a predictive security company, raised $15M in Series A funding (more)

• Dripos, a comprehensive software platform built specifically for coffee shops, raised $11M in Series A funding (more)

• Alaffia Health, a company specializing in generative AI for health plan claim operations, raised $10M in funding (more)

• RWX, a provider of a Continuous Integration and Continuous Delivery (CI/CD) platform, raised $7M in Seed funding (more)

• Amplifier Security, a provider of an automation and security copilot, raised $3.3M in funding (more)

• Aropha, a lab focused on advancing biodegradable material discovery through automation and AI predictive modeling, raised $1M in Seed funding round (more)

• Medical Informatics Engineering, a provider of health IT software and systems for the occupational health market, received an investment from Serent Capital (more)

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CRYPTO

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• Spot Bitcoin, Ether ETFs get official approval in Hong Kong; 'potential fee war' unfolding (more)

• FTX to auction off More Solana tokens this week (more)

• US seeks 3 years prison for Binance founder Zhao (more)

BULLISH BITES

👰🏻‍♀️ Trending: The rise of the ‘tradwife’ — why some women say they are opting out of work.

💻 Work smarter: Jeff Bezos isn’t a fan of ‘time blocking’ for productivity—here’s what he does instead.

🗝 World’s best: Michelin Guide awards its first Hotel Keys in the US.

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🚙 Next level: The Mercedes-Benz G-Class has gone electric.

DAILY SHARES

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