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BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
↓40.54% for Wk of August 08 2024

Market Wrap:

• S&P futures up 0.16%, Nasdaq 100 up 0.28%, Dow up 0.1%

• Paramount Global rose 5% on strong earnings; E.l.f. Beauty down 10% on cautious outlook

• S&P +2.3%, Dow +683 points (+1.8%), Nasdaq +2.87%

• Rebound followed earlier sell-off on weak payrolls, Fed rate worries, yen trade unwind

• Investors bought the dip, seeing it as a healthy correction

• Indexes still down for the week: S&P -0.5%, Nasdaq/Dow -0.7%

EARNINGS

No stocks on our watch list today. Full earnings calendar here.

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HEADLINES

Wall Street Rallies to Its Best Day Since 2022

Paramount to Lay Off 15% of Staff Amid Brutal Period in Media

• US initial jobless claims decline by most in nearly a year (more)

• Mortgage rates in plunge to the lowest level since may 2023 (more)

• Oil poised for weekly gain with eyes on Middle East, equities (more)

• Asian shares set to end brutal week on a high, yen under pressure (more)

• Nasdaq considers stricter delisting rules for penny stocks (more)

• Wall St bonus watcher says some payouts will jump up to 35% (more)

• Private equity builds $722B war chest in hunt for deals (more)

• BlackRock plans new ETFs to ride - or dodge - biggest tech firms (more)

• Pressure mounts on Warner Bros. CEO to deliver value for shareholders

• Cathie Wood buys $28 million of battered tech stock (more)

• Palantir jumps 11% on Microsoft partnership to sell AI to U.S. defense, intel agencies (more)

• Private credit boxed out of M&A deals by banks as lending battle escalates (more)

DEALFLOW

M+A | Investments

• Les Schwab Tire's owner explores sale valuing it at over $7 billion (more)

• CVC, ADIA to buy Hargreaves Lansdown in £5.4B deal (more)

• Box, an intelligent content cloud company, acquired Alphamoon Technology, an AI-powered, intelligent document processing technology company (more)

• Epilog Partners, a provider of a private equity platform for healthcare’s complexity, acquired Care Connectors Medical Group, an on-demand platform for value-based care (more)

• GrubMarket, a tech-enabled food eCommerce company, acquired Good Eggs, an online grocery service renowned for its commitment to sustainability, local sourcing, and high-quality food (more)

• Kronologic, a customer engagement and AI schedule platform, was acquired by East11 Ventures (more)

• MPAY, payroll and human capital management solutions, acquired Southland Data Processing, a payroll solutions company (more)

• SoundHound AI, a voice artificial intelligence company, acquired Amelia, an enterprise AI software company (more)

• SurgNet Health Partners, Inc., an ambulatory surgery center development and management company, acquired Tuscaloosa Endoscopy Center, a provider of gastrointestinal diagnostic and therapeutic endoscopic procedures (more)

• ZipRecruiter, an online employment marketplace, acquired Breakroom, an employer review platform (more)

• Cresso Health, a tech-enabled provider of sales and marketing solutions for health insurance carriers, received an investment from Cypress Ridge Capital (more)

VC

• CarbonQuest, a distributed carbon capture tech provider, raised an undisclosed amount in Series A funding (more)

• Flyr, a technology company for the travel industry, raised $295M in funding (more)

• CloudPay, an independent provider of global payroll and payment solutions, raised $120M in funding (more)

• IDRx, a clinical-stage biopharma company, raised $120M in Series B funding (more)

• Rewest, a provider of an automation platform for managed service providers, raised $45M in funding (more)

• Cents, a provider of an all-in-one business management platform for laundry businesses, raised $40M in Series B funding (more)

• Level AI, an LLM-native customer experience intelligence automation space, raised $39.4M in Series C funding (more)

• Syso Technologies, a market operator of renewable energy and battery storage assets, raised $14.5M in Series B funding (more)

• Plonts, a plant-based foods company, raised $12M in Seed funding (more)

• Chariot, a payments company dedicated to Donor Advised Fund giving, raised $11M in funding (more)

• Seven Starling, a virtual provider of women's behavioral health services, raised $10.9M in Series A funding (more)

• Feeling Great, a provider of newly launched app called the Feeling Great app, raised $8M in Seed funding (more)

• InventWood, a company transforming wood into superwood building products, raised $8M in funding (more)

• 375ai, a decentralized data intelligence network, raised $5M in Seed funding (more)

• Chaiz, a comparison marketplace for extended car warranties, raised $3.7M in Seed funding (more)

• AmorSui, a modern personal protective equipment brand, raised $3.5M in Seed funding (more)

• Terrantic, a platform for the food supply chain, raised $3.5M in Seed funding (more)

• Bardeen, AI agents that automate repetitive knowledge work using a natural language interface, raised $3M in funding (more)

• Prana Thoracic, a medtech startup specializing in lung cancer intervention, raised $3M in Series A extension (more)

• BrandRank.AI, a company specializing in generative AI-based brand search analytics, raised $1.2M in Seed and Angel funding (more)

CRYPTO

• Crypto executives clash with Democratic leaders in heated Zoom meeting (more)

• Bitcoin nears $60K as crypto bounce accelerates (more)

• FTX, Alameda ordered to pay $12.7B to creditors by US Judge (more)

BULLISH BITES

🚨 Whitney Tilson: “Get out of cash before the Fed's next meeting” *

📊 Pursuits: Activist investor who took on Apple, Exxon readies his next act.

👋 Layoff Wave: A comprehensive list of 2024 tech layoffs.

🏊🏻‍♀️ Fun Fact: The Olympic pool for diving and water polo gets its heat from data centers.

👜 Inside Look: Inside Nicolas Ghesquière’s triumphant first decade at Louis Vuitton.

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