Calendar:

• Friday, 2/16: Producer Price Index (PPI), 8:30a ET

BEFORE THE OPEN

Pre-Market:

Market Recap:

• U.S. stock futures flat after Dow's largest drop since March 2023

• Dow down 0.04%, S&P 500 up 0.02%, Nasdaq rises 0.07%

• Lyft shares jump 16% on strong Q4 earnings; Airbnb slips 4%

• Tuesday's losses driven by hotter-than-expected CPI

• Fed rate cut now seen in second half of 2024: Terry Sandven

• Today: Listening for comments from Chicago Fed President Austan Goolsbee

• Earnings: Generac, Kraft Heinz report AM; Cisco, Occidental Petroleum after close

EARNINGS

What we’re watching this week:

• Today: Twilio (TWLO)

  • Cisco Systems (CSCO) - expected: $.84 per share (-4.5% YoY) on $12.7B revenue (-6.6% YoY)

• Thursday: DoorDash (DASH), PENN Entertainment (PENN), Roku (ROKU)

  • Coinbase Global (COIN) - expected: $.04 per share on $820.3M revenue (+30.4% YoY)

  • DraftKings (DKNG) - expected: $.08 per share on $1.2B revenue (+45.2% YoY)

Full earnings calendar here

HEADLINES

Wall Street Falls as Hot Inflation Data Dampens Early Rate-Cut Hopes

Nvidia is Now Worth More than Amazon Thanks to the AI Chip Boom

• House Republicans impeach Homeland Security Secretary Mayorkas (more)

• Prices rose more than expected in January as inflation won’t go away (more)

  • Here’s the inflation breakdown for January 2024 in one chart (more)

• Bullish investors drop recession calls for first time since April 2022 (more)

• Big Oil’s endgame: get bigger (more)

• Commercial-property loans coming due in US jump to $929B (more)

• StanChart weighs break up of corporate, investment bank (more)

• Lyft corrects earnings margin gain to 50 basis points from 500 (more)

• Airbnb sees Q1 revenue above Street estimates on strong international travel (more)

• Paramount Global to cut 800 jobs in drive to boost profitability (more)

• Instacart to lay off 7% of workforce as part of restructuring (more)

• Boeing orders, deliveries dry up in January as plane-maker grapples with latest Max crisis (more)

• Bezos sells $4 billion of Amazon stock in four trading days (more)

• Valentine’s Day chocolate prices highest in years amid cocoa shortage (more)

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DEALFLOW

M+A | Investments

• Ascent Technologies, a provider of AI-enabled compliance automation solutions for financial services, acquired Waymark, a provider of horizon scanning and compliance management (more)

• Sixth Street invests in Blue Stream (more)

• GTCR-backed Foundation Source acquires PG Calc (more)

• GCP-backed Data Leadership Platform purchases Data Society (more)

• Transom buys Webasto Charging Solutions (more)

• ADC Aerospace acquires CRC (more)

• Nautic Partners buys Angels of Care (more)

• Exponential Markets, a fintech startup providing financial instruments for financial protection for participants in a variety of asset classes, received a strategic investment from Citi (more)

• CTC Global, a company specializing in engineering and manufacturing advanced conductor cores for high-voltage transmission cables, received a strategic investment from Endeavour Capital and Greenbelt Capital Partners (more)

• Timoneer Strategic Partners buys Solid Restoration (more)

• Bain Capital Real Estate, Cherry Tree Capital Partners form JV (more)

• Boyne Capital forms Pinnacle Home Improvement Group (more)

VC

• BioAge Labs, a clinical-stage biotech company developing novel therapies for obesity and metabolic diseases, raised $170M in Series D funding (more)

• ProfoundBio, a clinical-stage biotechnology company developing novel antibody-drug conjugate therapeutics for patients with cancer, raised $112M in Series B funding (more)

• Antithesis, the platform revolutionizing how software is tested and debugged, launched out of stealth today and announced $47M in seed funding (more)

• Skylo Technologies, a direct-to-device satellite connectivity service provider, raised $37M in funding (more)

• Meter today announced $35M in funding that will be used to further propel growth and development across the company (more)

• Sudo Biosciences, a biopharmaceutical company committed to designing and developing precision TYK2 inhibitors, raised additional $30M in Series B funding (more)

• Marqo, a vector search company, raised $12.5M in Series A funding (more)

• Quilter, an AI company building generative circuit board design software, raised $10M in Series A funding (more)

• Rimere, a climate solutions company with proprietary plasma technology, raised $10M in funding (more)

• Camus Energy, a provider of a grid orchestration platform, raised $10M in Series A extension (more)

• Document Crunch, a provider on AI-powered contract platform, raised $9M in Series A funding (more)

• Groover, the innovative music promotion platform, announces today an $8 million Series A funding round (more)

• Anatomy Financial announces a $7.6M funding round (more)

• Seal Security, a cybersecurity startup leveraging large language models to increase that increases their patching capacity, raised $7.4M in Seed funding (more)

• Odyssey, an energy drink company, raised $6M in funding (more)

• PatientFi today announces the closing of a significant growth equity financing (more)

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CRYPTO

• Bitcoin drops 2% on hotter-than-expected US inflation (more)

• Bitcoin options show traders setting sights on new record high (more)

• Robinhood's higher crypto revenue could be positive for Coinbase earnings (more)

BULLISH BITES

🤑 Short list: The 50 hottest Fintech startups of 2024.

🧠 Personalized: ChatGPT is getting ‘memory’ to remember who you are and what you like.

💥 Obliterated: How Silicon Valley tech bros ruined media.

👔 White-collar threat: AI is coming for the higher-ups in the corporate office—and few industries are immune.

📈 Fast Money: Learn to mimic Pete Najarian's step-by-step process for finding and trading Unusual Option Activity. Make his gameplan part of your strategy—start here »

DAILY SHARES

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