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📈 This “AI convergence” could send NVIDIA even higher »
A message from Behind The Markets

BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
↑51.61% for Wk of August 22 2024

Market Wrap:

• Stock futures flat as Nvidia's earnings loom.

• Nordstrom +7%, Ambarella jumps 20%, PVH -7% after hours.

• S&P, Nasdaq +0.2%; Nvidia gained 1.5%, Dow hits another record.

• Nvidia's earnings key for tech and AI trade outlook.

• Focus on Nvidia’s Blackwell chips and AI demand.

EARNINGS

Here’s what we’re watching this week:

• Today: Abercrombie & Fitch (ANF), CrowdStrike (CRWD), Kohl's (KSS)

  • Nvidia (NVDA) - earnings of $.57 per share (lower than Q1 due to the 10-for-1 stock split) on $25.6B revenue, nearly double the $13.5B it reported in the year-ago period.

  • Salesforce (CRM) - earnings of $2.36 per share (+11.5% YoY) on $9.2B revenue (-3.8% YoY)

• Thursday: American Eagle (AEO), Dollar General (DG), Gap (GAP), Lululemon (LULU)

  •  Ulta Beauty (ULTA) - earnings of $5.52 per share (-8.3% YoY) on $2.6B revenue (+4% YoY)

Full earnings calendar here.

HEADLINES

NFL Ushers in New Era by Allowing Private Equity Ownership

Zuckerberg Says White House ‘Pressured’ Meta to ‘Censor’ Covid-19 Content

• Consumers more upbeat on economy, inflation in August (more)

• House prices fall on monthly basis in June (more)

• US awards $52M in grants to boost EV charging network (more)

• Oil prices fall 2% on economic worries, technical decline (more)

• Grains futures climb as weather brings worsening crop conditions (more)

• Investors brace for US junk debt’s last gasp before election (more)

• Nvidia aims for "show stopper" in highly anticipated earnings report (more)

• Eli Lilly lowering prices for weight loss drug by half (more)

• Apple enters content partnership with India's Bharti Airtel (more)

• Shares of Temu parent company PDD plunge 29% (more)

• Intel board member quit after differences over chipmaker's revival plan (more)

• Kroger and Albertsons megamerger gets its day in court (more)

• US companies tweak diversity policies as challenges mount (more)

TOGETHER WITH 1440

DEALFLOW

M+A | Investments

• Exxon seeks to sell conventional Permian assets for $1 bln (more)

• Blackstone to seek a $5.5B loan for AirTrunk bid (more)

• Chatterjee Group seeks Indian state oil firms’ partnership for $10B project (more)

• Principle Health Systems, a provider of mobile lab services to long-term care facilities, acquired BioStat Imaging, a mobile imaging provider (more)

• Hibu, a tech-enabled digital marketing solutions to SMB’s across the US, completed the acquisition of RevLocal, a digital marketing partner to SMBs and multi-location brands across the US (more)

• Lightcast, a provider of labor market data, analytics, and expert guidance, acquired Stratigens, a talent intelligence provider (more)

• Ripple Operations, a maritime software company, acquired AdonisHR, a Norwegian provider of crew management and payroll software for the maritime industry (more)

VC

• Navigator Medicines, a biotech company, raised $100M in Series A funding (more)

• Supio, a purpose-built AI platform for personal injury and mass tort plaintiff law firms, raised $25M in Series A funding (more)

• Tilt, a platform for leave management solutions, raised $15M in Series B funding (more)

• Planera, a provider of a construction CPM scheduling and planning solution, raised $13.5M in Series A funding (more)

• Diakonos Oncology Corp., a clinical-stage immuno-oncology company, raised $11.4M in Seed funding (more)

• pgEdge, a company that distributes PostgreSQL, raised $10M in funding (more)

• Linker Finance, a platform for community banks and their digital banking experience, raised $3.7M in Seed funding (more)

• Diakonos Oncology Corp., a clinical-stage immuno-oncology company, raised $11.4M in Seed funding (more)

• eXeX, a med tech company utilizing AI to optimize surgical procedures, raised $5.8M in Seed funding (more)

• Echelon, developer of a decentralized lending protocol, raised $3.5M in seed funding (more)

• Fleet, a commuter benefits mgnt platform, raised $2.5M in Seed funding (more)

• Katara, AI-agent workflow tools for DevX teams, raised $2.2M in Seed funding (more)

CRYPTO

• Treasury will define US crypto policy — eventually (more)

• Trump releases fourth drop of his NFT trading cards (more)

• Bitcoin slides below $62K as consolidation drags on (more)

BULLISH BITES

📈 AI’s Big Pivot: A massive $1 Trillion AI superproject is underway *

🏈 Pursuits: NFL’s Kelce brothers sign $100M podcast deal With Amazon.

🛥 Shipwreck: Captain of Mike Lynch’s yacht under investigation.

🍼 Falling: Maternity wards are disappearing in rural and urban America.

🍹 Top Shelf: The US Open’s $10M signature cocktail got a price hike this year.

DAILY SHARE

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