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BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
45.90% for Wk of Mar 14 2024 (Last week: 51.73%)

Market Recap:

• Stock futures steady post winning day, eyes on Fed.

• Dow futures flat, S&P 500 dips 0.03%, Nasdaq up 0.05%.

• Dow soared 320 points, S&P rose 0.6%, Nasdaq gained 0.4%.

• Tech weakness sparks AI rally concerns, energy leads.

• Semiconductor stocks dip, MicroStrategy & Super Micro down.

• Fed likely to maintain rates, focus on dot plot.

• Micron Technology & General Mills earnings due todayday.

EARNINGS

What we’re watching this week:

• Today: General Mills (GIS)

  • Micron (MU) - anticipating a loss of $.26 per share (a vast improvement over its year-ago loss of $1.91 per share). Revenue forecast to arrive at $5.3Bn(+43.2% YoY)

• Thursday: Darden Restaurants (DRI), Lululemon Athletica (LULU)

  • FedEX (FDX) - earnings of $3.53 per share (+3.5% YoY) on revenue of $22.1B (-0.5% YoY)

  • Nike (NKE) - earnings of $.74 per share for Nike's fiscal Q3 (-6.3% YoY), on $12.3B revenue (-0.8% YoY)

Full earnings calendar here

HEADLINES

Nvidia CEO Wants Enterprise to Think ‘AI Factory,’ Not Data Center

Boeing Mulls Shedding Airbus Work in Potential Spirit Aero Deal

• Everything to expect from the Fed’s policy meeting today (more)

• Wall Street advances with Nvidia and Fed meeting in focus (more)

• Wall Street optimism on stocks is at its highest level since early 2022, BofA survey shows (more)

• Women’s household work to be added to US CPI consumption survey (more)

• Japan raises interest rates for first time in 17 years (more)

• Chinese banks hold lending rates as PBOC refrains from easing (more)

• Nvidia stock climbs as CFO says new chip to ship in 2024 (more)

• Microsoft taps DeepMind co-founder Suleyman to spearhead consumer AI push (more)

• SpaceX to sell satellite laser links that speed in-space communication to rivals (more)

• JetBlue to cut routes after weaker performance (more)

• BlackRock condemns Texas Fund’s divestment of $8.5B (more)

• George Lucas backs Disney board and CEO Bob Iger amid proxy battle (more)

• Nordstrom's founding family in new bid to take US retailer private (more)

• Unilever to spin off ice cream business, cut 7,500 jobs for cost savings (more)

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DEALFLOW

M+A | Investments

• Heritage Provider Network revives $7 Billion sale plans (more)

• Selena Gomez weighs sale of cosmetics brand valued at $2B (more)

• AstraZeneca bets on next-generation cancer therapy with $2B Fusion deal (more)

• Francisco Partners acquires Jama Software for $1.2B (more)

• Sycamore Partners explores bid for apparel maker Gildan Activewear (more)

• Boeing explores disposal of some defense assets amid crisis (more)

• Fixed satellite service provider Eutelsat agrees $500M partnership deal with Intelsat (more)

• Software provider HashiCorp said to weigh sale (more)

• Linden Capital Partners weighs sale of a minority stake (more)

• Francisco Partners, an investment firm that specializes in partnering with tech-enabled businesses, acquired Jama Software, a requirements management and traceability solution provider (more)

• Frazier Healthcare Partners, a healthcare-focused investment firm, acquired RevSpring, a provider of communication and payment solutions servicing healthcare/financial services, from GTCR (more)

• JumpCloud, a company helping IT teams and managed service providers, acquired Resmo, a provider of asset management and SaaS security solutions (more)

• ServiceNow (NOW), a digital workflow company, acquires 4Industry and EY Smart Daily management application to drive Innovation for smart industrial environments (more)

• XAlts invests in the Copia Group (more)

VC

• Ballistic Ventures, a venture capital firm dedicated to early-stage cybersecurity and cyber-related companies, closed its second fund, at $360M (more)

• Westbound Equity Partners, an early stage venture capital firm, closed its second fund, at $100M (more)

• BigID, an AI-augmented data security company, raised $60M in Growth funding (more)

• Carlsmed, an AI-enabled personalized surgery medtech company, raised $52.5M in Series C funding (more)

• FlexPoint, provider of a payments automation platform for managed service providers, raised $35M in funding (more)

• Sealed, a residential energy efficiency startup, raised $30M in funding (more)

• Superlinked, a provider of a solution for turning complex data into vector embeddings, raised $9.5M in seed funding (more)

• Cache, a brokerage specifically created for large stock positions, raised $8.5M in seed funding (more)

• OpenMeter, a provider of a data source platform for AI monetization, raised $3M in seed funding (more)

• Synch, a provider of an integrated Global Trade Management solution to unify company revenue stacks, raised $3M in Seed funding (more)

• ConKay Medical Systems, a medtech company, raised $1.8M in Seed funding (more)

CRYPTO

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• MicroStrategy, largest corporate holder of bitcoin, drops as much as 18% as cryptocurrency falls (more)

• Exchange investigates flash crash that sent Bitcoin to $8,900 (more)

• Ether ETFs likely won't get approved in may, Bloomberg analyst predicts (more)

• Sam Bankman-Fried says 50-year sentence only suitable for a ‘Super Villain’ (more)

BULLISH BITES

🤖 GTC 2024: Key takeaways from Nvidia's annual developer conference.

🎁 Pursuits: MacKenzie Scott donates $640 million to 361 nonprofits.

🚁 Futuristic: This electric aircraft CEO wants you to fly for the price of an Uber.

🏎 Next-level: Ferrari boss promises ‘emotion’ won’t be lost in EV engine roar.

🤯 Revealed: Nvidia’s secret weapon » *

DAILY SHARES

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