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BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
↓ 43.17% for Wk of July 25 2024 (Last week: 52.75%)

Market Recap:

• Stock futures flat; key earnings and Fed meeting ahead.

• Merck, Pfizer, PayPal, P&G, JetBlue report earnings before the bell.

• Microsoft, AMD, Starbucks report after the close.

• 40% of S&P 500 companies have reported; 79% beat earnings.

• Fed's policy meeting starts Tuesday; possible rate cut signals.

• 100% chance of a September rate cut priced in.

EARNINGS

Here’s what we’re watching:

• Today: Advanced Micro Devices (AMD), JetBlue Airways (JBLU), Live Nation (LYV), PayPal Holdings (PYPL), Restaurant Brands (QSR), SoFi Technologies (SOFI), Starbucks (SBUX)

  • Microsoft (MSFT) - earnings to be up 8.9% YoY, while revenue is forecast to rise 14.5% to $64.4B

  • Procter & Gamble (PG) - earnings of $1.37 per share, flat on a year-over-year basis, on $20.8B revenue (+1% YoY)

• Wednesday: Arm Holdings (ARM), Boeing (BA), Carvana (CVNA), DuPont (DD), eBay (EBAY), Etsy (ETSY), Marriott (MAR), Meta Platforms (META)

• Thursday: Amazon (AMZN), DoorDash (DASH), DraftKings (DKNG), Hershey Foods (HSY), Intel (INTC), Moderna (MRNA), Roblox (RBLX), Roku (ROKU), Sirius XM (SIRI), Twilio (TWLO), Wayfair (W), Wendy's (WEN)

  • Apple (AAPL) - earnings of $1.34 per share (+13.6% YoY) on $84.4B revenue (+10.4% YoY)

Full earnings calendar here.

HEADLINES

Nvidia Unveils AI Advancements that Go Beyond Chips

McDonald’s Revenue Miss Estimates as Global Consumer Pullback Worsens

• Fed expected to keep interest rates steady but to tee up September cut (more)

• Stock turbulence throws spotlight on Big Tech's valuations (more)

• Broader rotation tries to stick this time (more)

• Dollar rebounds as markets await FOMC directions (more)

• US buys 4.65M barrels for emergency oil stockpile (more)

• IPO market to slow after Lineage, with quiet summer ahead (more)

• Traders fret as 32-hr Central Bank spree hangs over market (more)

• Delta hires David Boies to seek damages from CrowdStrike, Microsoft after outage (more)

• Apple AI models were trained on Google’s custom chips (more)

• Ford, GM, Stellantis face a daunting second half of 2024 (more)

• Temu and Shein’s soaring popularity has Wall Street eyeing China’s influence on tech earnings (more)

• Short seller Andrew Left surrenders on securities fraud charges in L.A., due in court (more)

A Massive $1 Trillion AI
Superproject is Underway

AI is growing exponentially. That means thousands of existing facilities are now obsolete.

New billion-dollar mega complexes are rising in their place.

They’re six times more powerful.

And Nvidia, the hottest company in the world, is playing a vital role in their production.

But they’re not alone …

Nvidia needs a critical group of Silent Partners to help get the job done.

Click here to discover these key companies behind this $1 trillion Superproject

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DEALFLOW

M+A | Investments

• Baupost opts out of IPO for Bill Ackman’s Pershing Square Fund (more)

• Hewlett Packard set for EU nod for $14B Juniper deal (more)

• Vital Energy, Northern Oil and Gas buy Point Energy shale assets for $1.1B (more)

• Sixth Street inks $5.1B take-private purchase of insurer Enstar (more)

• ACA Group, a compliance solutions provider to the financial services industry, acquired Encore Compliance, an AI compliance software company (more)

• Agilent Technologies Inc. acquired Sigsense Technologies, a startup using AI and monitoring to optimize lab operations (more)

• Deepnote, an AI-powered data workspace, acquired Hyperquery, a competitor in the data science and analytics space (more)

• MiQ, a global programmatic media partner, acquires Pathlabs, a Media Partner providing end-to-end digital media execution services to independent agencies (more)

• 1970 Group, a specialized risk financing provider to the insurance industry, credit support, and risk management, received a growth investment from Bain Capital Insurance (more)

• Chekable, a developer of an AI solution for patent professionals, received an investment from NEC X (more)

• Clearly, a Kyiv, Ukraine-based psychological startup, secured non-dilutive funding from Google for Startups Ukraine Support Fund (more)

• OnSight Technology, advanced solar monitoring and inspection, received a strategic investment from Convective Capital (more)

• SePRO Corporation, a specialty environmental restoration company focused on water quality, received an investment from Stanley Capital Partners and Goldman Sachs Alternatives (more)

VC

• Altana, a provider of a value chain management system, raised $200M in Series C funding (more)

• Astranis, a geostationary satellite maker, raised $200M in Series D funding (more)

• Spear Bio Inc., a biotech company enabling the measurement of protein molecules, closed a $45M Series A financing (more)

• Oats Overnight, a high-protein oatmeal brand, raised $35M in Series B funding (more)

• unspun, a 3D weaving technology company, raised $32M in Series B funding (more)

• ReviR Therapeutics, an AI-enabled biotech company developing small molecule RNA modulators for neurogenetic diseases, closed a $30M Series A financing (more)

• Trio Mobil, a provider of AI and IoT solutions for workplace safety and efficiency, raised $26.5M in growth financing (more)

• Rillet, an automation-first ERP specifically built for high-growth companies, raised $13.5M in funding (more)

• ZeroTier, a network security startup, raised $13.5M in Series A funding (more)

• Mezo, Thesis's permissionless Bitcoin Economic Layer, raised $7.5m in strategic funding (more)

• Wed Society, a wedding industry franchise, closed its Series A funding round, at a $5.75M valuation (more)

• Axle Automation, Inc., a provider of AI-powered solutions for compliance teams, closed its $2.5M seed funding round (more)

• Helpt, a technical and customer service solution provider, raised $850K in seed funding (more)

CRYPTO

• Bitcoin tumbles below $67K as US gov’t moves $2B of 'Silk Road' tokens (more)

• Cantor Fitzgerald to launch Bitcoin financing endeavor (more)

• The clock has ticked on Bitcoin's post halving surge, 100 days after the latest quadrennial halving (more)

BULLISH BITES

🧐 VP as VC: The Wall Street Journal digs into JD Vance's career as a VC.

🚨 Next in AI: He called Nvidia at $8. Here’s his next pick… *

🚀 Stock watch: The tiny firm behind "Quantum AI Disruption *

🏎 Defying odds: Lamborghini’s winning formula is defying an auto industry slump.

📈 Hedging a bet: Former hedge fund manager publicly issues a new prediction *

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