BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
51.73% for Wk of Mar 07 2024 (Last week: 46.50%)

Market Recap:

• Stock futures steady Tuesday night after S&P 500 hits new high

• Dow futures down 10 points, S&P 500, Nasdaq 100 flat

• Markets rally Tuesday despite mild inflation rise in Feb

• Nvidia stock up 7%, key indicator in broadening market

• Dollar Tree reports this morning, Lennar after close

EARNINGS

What we’re watching this week:

• Today: Lennar LEN, Williams-Sonoma (WSM)

  • Dollar Tree (DLTR) - earnings of $2.65 per share (+29.9% YoY) on $8.7B in revenue (+12.3% YoY)

• Thursday: Dick's Sporting Goods (DKS), Ulta Beauty (ULTA)

  • Adobe (ADBE) - earnings of $4.38 per share (+15.3% YoY) on $5.1B in revenue (+10.3%)

Full earnings calendar here

HEADLINES

Boeing Max Crisis Forces Airlines to Cut Flights, Pause Hiring, CEOs say

Stock Traders Bracing for Worst Shrug Off Hot Inflation Data

• Inflation picks up to 3.2%, slightly hotter than expected (more)

• Here’s the inflation breakdown for February 2024 (more)

• Inverted yield curve no longer reliable recession flag, strategists say (more)

• Gasoline, shelter costs boost US prices; inflation still slowing (more)

• Voters blame businesses more than Biden for sticky inflation (more)

• US budget gap hits $828B in five months on interest costs (more)

• IBM is slashing jobs in marketing and communications (more)

• CVC’s beauty chain Douglas sets terms for $991M IPO (more)

• Goldman Sachs seeks to expand private credit portfolio to $300 billion in five years (more)

• Boeing whistleblower found dead of apparent suicide (more)

• Intel survived bid to halt millions in sales to China's Huawei, sources say (more)

• Thomson Reuters has $8 Billion war chest for AI-focused deals (more)

• Most subscription mobile apps don’t make money, new report shows (more)

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DEALFLOW

M+A | Investments

• ArcelorMittal to buy 28.4% stake in Vallourec for about $1B (more)

• Hg said to kick off $1 bln sale of Telematics firm track unit (more)

• Scholastic to buy kids’ content Studio 9 Story for $185M (more)

• Immedica’s owners consider sale of Swedish pharma firm (more)

• National Bank of Canada weighs options for Cambodian unit (more)

• KKR to invest $400M in Philippine telecoms tower business (more)

• Civo, a pure-play cloud-native service provider, acquired Kubefirst, an open-source GitOps platform for Kubernetes, from Kubeshop (more)

• Linden Capital Partners purchases Alcresta (more)

• BlackRock buys portfolio of solar energy and solar plus storage projects from Excelsior (more)

VC

• Applied Intuition, a vehicle software supplier for automotive, trucking, construction, and other industries, raised $250M in Series E funding, at $6B valuation (more)

• LactaLogics, a company specializing in human milk-based nutrition, raised $92M in funding (more)

• Bear Robotics, a company specializing in service robotics and artificial intelligence solutions, raised $60M in Series C funding (more)

• Eclipse Labs, a software firm contributing to the development of the first Ethereum layer-2 using the Solana Virtual Machine, raised $50M in Series A funding (more)

• Ocient, a data analytics software solutions company, raised $49.4M in funding (more)

• Empathy, a company providing a support system for loss, raised $47M in Series B funding (more)

• CodeMatrix, a company providing an AI solution for healthcare revenue management, raised $40M in Series B funding (more)

• Nanonets, a provider of an AI-based workflow automation platform for business processes, raised $29M in Series B funding (more)

• Quaise Energy, a terawatt-scale geothermal company, raised $21M in Series A1 funding (more)

• Adaptive ML, a startup enabling companies to improve generative AI models on users’ interactions, raised $20M in seed funding (more)

• Tavus, a generative AI video research company, raised $18M in Series A funding (more)

• Axion Ray, a provider of an AI-powered observability command center, raised $12.5M in Series A funding (more)

• Prescient AI, a company specializing in AI media measurement and optimization, raised $10M in Series A funding (more)

• Pienso, a company offering an interactive AI platform to turn text data into insights, raised $10M in new funding (more)

• Loop, a SaaS provider enabling restaurants to maximize their third-party delivery service profitability, raised $6M in Seed funding (more)

• Foundation Health, a healthcare technology company, raised $6M in Seed funding (more)

• Legends, a provider of a confidence-training platform for kids, raised $6M in Seed funding (more)

• Milu Health, a health tech company using AI for cost savings in healthcare, raised $4.8M in Seed funding (more)

CRYPTO

• Ethereum software upgrade is all about cost cutting this time (more)

• Coinbase Global plans to offer $1 Billion in convertible notes (more)

BULLISH BITES

💄 Criminal: Inside the organized crime rings plaguing retailers including Ulta, T.J. Maxx and Walgreens.

🛑 Roadblock: A top auto safety group tested 14 partial automated systems — only one passed.

🏆 Pay to play: Dating apps have hit a wall. Can they turn things around?

 🚙 Toys: Electric broncos.

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DAILY SHARES

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