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BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
50.00% for Wk of Mar 28 2024 (Last week: 43.20%)

Market Recap:

• Dow falls 1%, S&P 500 down 0.72%, Nasdaq 0.95%.

• Yields rise, dimming June rate cut hopes.

• Tesla drops 4.9% on disappointing deliveries.

• S&P 500 had best Q1 start since 2019, Nasdaq up 9%.

• Inflation data and strong economy spook markets.

• Regional Fed presidents expect rate cuts but not soon.

• Odds of June cut drop to 63% from 70%.

EARNINGS

What we’re watching this week:

• Today: Levi Strauss (LEVI)

• Thursday: Lindsay (LNN), Simply Good Foods (SMPL)

  • Lamb Weston (LW) - earnings of $1.46 per share for fiscal Q3. Revenue expected to rise 31% to $1.7 billion.

Full earnings calendar here

HEADLINES

Dow Falls Nearly 400 Points to Continue Second Quarter’s Weak Start

Disney Prevails Over Trian in Board Fight

• Biden, Xi Spoke by Phone About AI Risks, TikTok, Russia and Fentanyl (more)

• Biden's new green big rig standards could bankrupt small business (more)

• Rising Treasury yields pose a test for richly valued US stocks (more)

• Oil gains as market buffeted by supply worries (more)

• Asian shares fall as US yields hold near 4-month high, earthquake hits (more)

• Taiwan dollar optimism fades in options market as Fed bets shift (more)

• Health insurer stocks slide as final Medicare Advantage rates disappoint (more)

• Tesla quarterly deliveries decline for the first time in nearly four years (more)

• Intel shares fall after company reveals $7 billion operating loss in foundry business (more)

• Trump sues Truth Social co-founders to zero them out (more)

• Costco offering weight-loss subscriptions to members (more)

• GE’s final split cleaves a fallen corporate empire (more)

• IKEA Foundation backs emerging market EV push with $100 million grant (more)

• SoftBank-backed Window Maker to file for bankruptcy to cut debt (more)

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DEALFLOW

M+A | Investments

• Endeavor Group agrees to $13 Billion buyout from Silver Lake (more)

• Honeywell weighs sale of face mask unit amid fading post-pandemic demand (more)

• Cadent, a solutions provider for converged TV advertising, is to acquire AdTheorent, a pioneer delivering measurable value for programmatic advertisers, for $324M (more)

• Nucor Corporation acquired Southwest Data Products, Inc., a manufacturer of data center infrastructure, for $115M (more)

• Liberty Media Corporation acquired Dorna Sports, S.L., the exclusive commercial rights holder to the MotoGP™ World Championship, from Bridgepoint and Canada Pension Plan Investment Board (more)

• Remote, a leader in managing globally distributed workforces, acquired Easop, a compliance solution for businesses with international talent to grant and manage equity to their teams (more)

• Morgan Stanley Capital Partners buys Resource Innovations from BV (more)

• Maverix Medical, a lung cancer platform established by Ajax Health, KKR, and Hologic, Inc., acquired Cirrus Bio, a provider of multiomic solutions for the diagnosis of diseases (more)

• Noosa Labs buys Evalart (more)

• SLB acquires ChampionX (more)

• Harvest-backed Fortis buys print division of MASA (more)

• Gryphon-backed Shermco acquires Power Test (more)

• EQT purchases Avetta from WCAS (more)

• Clearwater Analytics acquires risk and performance analytics services from Wilshire (more)

• Trilantic-backed OLS purchases Willow Creek Landscape Supply (more)

• Monogram purchases majority stake in Tru Fragrance & Beauty (more)

• SunFireMatrix, Inc., a software services platform serving the insurance distribution and health plan markets, has been acquired by funds managed by KKR (more)

• CD&R buys Presidio from BC Partners (more)

• MidOcean Energy, a liquefied natural gas company, received an investment from Mitsubishi Corporation (more)

• Blue Sage Capital invests in American Alloy (more)

VC

• Brandtech Group, a generative AI marketing company, raised $115M in funding (more)

• Selux Diagnostics, Inc., a biotech startup whose mission is to combat superbug infections, raised an additional $48M in funding (more)

• ViaLase, Inc., a clinical-stage medical tech company focused on glaucoma treatment, closed $40M in Series C financing (more)

• InStride Health, a provider of specialty pediatric anxiety and OCD treatment, raised $30M in Series B funding (more)

• Seso, a provider of a workforce management platform for agriculture, raised $26M in funding (more)

• Xion, a blockchain purpose-built for mainstream adoption, raised $25M in funding (more)

• Modal, a skills development platform for data and analytics professionals, raised $25M in Series A funding (more)

• Melt Pharmaceuticals, a clinical‑stage pharmaceutical company, raised $24M in Series B Preferred Stock financing (more)

• EarliTec Diagnostics, a medical device company, raised $21.5M in Series B funding (more)

• Praia Health, a digital health company, raised $20M in Series A funding (more)

• BurnBot, a company providing mechanized vegetation management and fuel treatment solutions, raised $20M in Series A funding (more)

• Aidium, a provider of mortgage technology solutions, raised $19M in Series A funding (more)

• BioConsortia, Inc., an agricultural technology company, closed a $15M internal financing round (more)

• Proxima AI, a data intelligence software company, closed a $12M Series A funding (more)

• Float Health, a marketplace moving care that doesn’t need a hospital to the home, raised $10M in Series A funding (more)

• TechGrid, a company offering a business platform for technology service providers, raised $9.2M in Series A funding (more)

• Cyvl.ai, a company specializing in enterprise AI solutions for transportation infrastructure, raised $6M in funding (more)

• Quadratic Growth, a data science spreadsheet solution provider, raised $5.6M in seed funding (more)

• HealthArc, a company specializing in virtual healthcare, raised $5M in Growth funding (more)

• Juniper Biomedical, a medical device company, received $3M in funding (more)

• Goodbill, a startup that verifies that hospital bill is correct, raised $2M in funding (more)

• Siprocal, a provider of an advertising, marketing, and digital media platform, received growth capital from Solace Capital (more)

CRYPTO

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• Bitcoin drops over 5% as upbeat US factory data powers dollar index to nearly 5-month high (more)

• Tananbaum’s GoldenTree sells crypto subsidiary to Republic (more)

• Silk Road Bitcoin worth $2B moved by US government (more)

BULLISH BITES

🤑 Forbes billionaires: There are more than ever before – and they're wealthier.

📍 Navigation: Apple has patented a method to provide map directions based on the type of car you're driving.

👋 Did you get this? Hello to you as well, Starbucks.

🤖. Training ground: For data-guzzling AI companies, the internet is too small.

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DAILY SHARES

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