BEFORE THE OPEN

MARKETS:

• Stock futures rise with optimism about Fed halting rate hikes.

• Dow futures up 34 points (0.1%), S&P 500 and Nasdaq 100 futures also gain 0.1%.

• Las Vegas Sands shares fall 4% as largest shareholder plans $2 billion share sale; NetApp surges 11% on strong earnings.

• Regular trading sees modest gains: S&P 500 up 0.1%, Nasdaq Composite adds 0.3%, Dow inches 0.2% higher.

• Fed Governor Waller's comments boost confidence in inflation control.

• Fed funds futures hint at possible rate cut next spring.

• Wednesday highlights: Q3 GDP data, October wholesale inventories; earnings from Hormel Foods, Dollar Tree, and Salesforce.

EARNINGS

Here’s what we’re watching this week:

• Today: Snowflake (SNOW)

  • Dollar Tree (DLTR) - expected: $1.01 per share (down -15.8% YOY) on $7.4 billion revenue (+6.7% YoY)

  • Salesforce (CRM) - expected: $2.06 per share (+47.1% YoY) on $8.7 billion revenue (+11.5% YoY)

• Thursday:

  • Ulta Beauty (ULTA) - expected: $4.96 per share (-7.7% YoY) on $2.5 billion revenue (+6.0% YoY)
    

• Full earnings calendar here

NEWS BRIEFING

Charlie Munger, Investing Genius and Warren Buffett's Right-Hand Man, Dies at Age 99

‘Stop the Price Gouging’: Biden Hits Corporations Over High Consumer Costs

• Treasury yields inch higher as investors consider economic outlook (more)

• Harvard, Penn, MIT presidents called before Congress on Antisemitism (more)

  • Wealthy Jewish families are rejecting the Ivy League for ‘Plan B’ schools (more)

• SEC's in-house enforcement powers at risk in US Supreme Court case (more)

• 2024 election to boost dollar on trade-war tension, JPMorgan says (more)

• Bill Ackman bets Fed will cut interest rates as soon as first quarter (more)

• US consumer confidence increased in November (more)

• UBS Chair Kelleher warns bubble is forming in private credit (more)

• UK regulators say Adobe’s $20 billion Figma acquisition could harm competition (more)

• U.S. home prices climb for seven month in a row to a record high, Case-Shiller says (more)

• Wall Street banks are poaching Goldman’s AI talent (more)

• Amazon announces new AI chip as it deepens Nvidia relationship (more)

  • Amazon wants businesses to use its palm-scanning tech to let employees into the office (more)

  • Amazon Introduces Q, an A.I. Chatbot for companies (more)

• The 2024 IPO cohort is coming into focus as Shein, Reddit prep to go public (more)

• Musk’s cybertruck os already a production nightmare for Tesla (more)

• Apple is trying to unwind its Goldman Sachs credit card partnership (more)

• AI tools such as ChatGPT are generating a mammoth increase in malicious phishing emails (more)

TOGETHER WITH COINSMART

Buy Bitcoin in minutes

Buying Bitcoin is quick and easy with CoinSmart- The world's most accessible crypto exchange.

• Designed for beginners, built for experts

• Instant verification, 24/7 support

• Fully registered, safe and secure

- Please support our sponsors -

DEALFLOW

• Mark Cuban is selling his majority stake in the Dallas Mavericks to the Adelson family (more)

• Lineage Logistics eyes over $30 billion valuation in IPO (more)

• Tower Arch Capital, an investment firm, closed off Tower Arch Partners III, LP and its parallel investment entity, with $750M of capital commitments (more)

• New Heritage Capital, a private equity firm, closed its fourth fund, at $438m in total capital commitments (more)

• Aro Biotherapeutics, a clinical stage biotechnology company, raised $41.5M in Series B funding (more)

• Second Front Systems, a public-benefit software company accelerating the delivery of mission-critical software solutions to the government, raised $40M in Series B funding (more)

• CapitalOS, a fintech company providing a spend management infrastructure for B2B platforms, raised $39M in funding (more)

• Pika, provider of an AI video platform, raised $35M in Series A funding (more)

• PlayGround, provider of a healthcare fintech payments platform, raised $19.7M in Series A funding (more)

• Hang, provider of a direct-to-consumer sports platform, raised $9.2M Series A funding (more)

• CoordinateHQ, a project management system for client service organizations, raised $5.5M in Seed funding (more)

• Prelude, provider of an AI-powered supply chain solution for cannabis ecosystem, raised $5.2M in Seed funding (more)

• Vimcal, provider of a calendar app calendar designed for remote workers, raised $4.5M in Seed funding (more)

• PlantSwitch, a bioplastics manufacturing company, received $2M from NexPoint (more)

• Intrigue Media, a daily geopolitical briefing company, raised $1.75m in funding (more)

• Rad, a provider of a video streaming platform for Web 3, raised an undisclosed amount in additional funding (more)

M & A:

• KKR acquired Potter Global Technologies, a manufacturer of fire and life safety equipment, from Gryphon Investors (more)

• Research Solutions (NASDAQ: RSSS), a company providing cloud-based workflow solutions, acquired scite, a search and discovery platform (more)

• Cyara, an AI-powered customer experience (CX) assurance platform provider, acquired QBox, a conversational AI testing company (more)

• Accenture (NYSE: ACN) acquired Incapsulate, a digital transformation consulting firm - and Ocelot Consulting, a cloud consultancy

• AIP-backed Waste Eliminator acquires North Georgia Roll Off (more)

• Season Health buys Wellory Assets (more)

• PE-backed Unlock Health acquires SPM Group (more)

• WILsquare Capital buys Automotive Color & Supply (more)

Was this briefing forwarded to you?  (Sign up here.)

CRYPTO

• Block CEO Jack Dorsey leads $6.2 million investment round in decentralized Bitcoin mining pool (more)

• Crypto shorts got it wrong on Binance (more)

• U.S. treatment of CZ, Binance is 'absurd:' Arthur Hayes (more)

BULLISH BITES

🩸 New blood: 30 under 30 venture capital 2024: young investors backing next-gen startups.

🔥 ’Bout time: Why 2024 could be a hot year for startup founders.

🙏 Breakthrough: The CRISPR era is here.

🧑‍🎤. Warped: Can you really put punk in a museum?

📚 Must-read: Poor Charlie’s Almanack: The Essential Wit and Wisdom of Charles T. Munger

DAILY SHARES

Like what you see? Get tomorrow’s briefing here

Keep the curation going! Buy the team a coffee ☕️

Have a comment or suggestion? We’d love to hear it!
Send us your message -mb