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BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
38.49% for Wk of Apr 25 2024 (Last week: 32.13%)

Market Recap:

• U.S. stock futures flatline after Dow's four-day rise.

• Dow up 0.02%, S&P 500 0.01%, Nasdaq 100 down 0.03%.

• Monday: Dow climbed 0.5%, S&P 500 1%, Nasdaq 1.2%.

• Friday's jobs report eases economic overheating concerns.

• Hopes for Fed rate cuts remain amidst conflicting inflation data.

• Focus on Disney, UBS, BP, and Kenvu earnings reports.

EARNINGS

What we’re watching this week:

• Today: Robot (IRBT), Lyft (LYFT), Twilio (TWLO), ZoomInfo (ZI)

  • Walt Disney (DIS) - expect $1.10 EPS (+18.3% YoY), on $22.1B revenue (+1.4% YoY)

  • Reddit (RDDT) - expect $8.71 EPS loss on $212.8M revenue

• Wednesday: Airbnb (ABNB), AMC Entertainment (AMC), Anheuser-Busch (BUD), Duolingo (DUOL), Instacart (CART), Klaviyo (KVYO), News Corp (NWSA), Robinhood (HOOD), Uber Technologies (UBER)

  • Arm Holdings (ARM) - expect revenue improvement of +6.6% to $878.2M and +$.30 EPS

• Thursday: Roblox (RBLX), Tapestry (TPR), Warner Bros. Discovery (WBD)

Full earnings calendar here

HEADLINES

S&P 500 Is Now on Track for Biggest Run This Year

At $2 Million Per Minute, Treasuries Mint Cash Like Never Before

• Wall Street closes higher for third session on rate cut optimism (more)

• Strong economy extends Medicare fund viability to 2036 (more)

• US financial regulators restart work on long-delayed compensation rules (more)

• US financial markets watchdog to collect data on bilateral repo (more)

• Emerging-market currencies extend their steepest rally this year (more)

• FAA opens probe into Boeing Dreamliner inspections, records (more)

• Tesla lays off more staff in software, service teams (more)

• Jack Dorsey leaves BlueSky board, touts 'freedom technology' of X and Nostr (more)

• Microsoft readies new AI model to compete with Google, OpenAI (more)

• Apple working on AI chips for data centers (more)

• Nio on track to unveil its first mass-market car in May (more)

• Nvidia is missing link in a strong season of AI earnings reports (more)

• Private credit to face shakeup if economy slows (more)

• A blockbuster Wall Street trial begins (more)

DEALFLOW

M+A | Investments

• Wozniak's space firm, Privateer, buys Orbital Insight, raises $56.5 million (more)

• BofA, BNP poised to win lead roles on $20B Sanofi Spinoff (more)

• EU clears $14.9B purchase of US Steel by Japan's Nippon (more)

• Whataburger jumps back into loan market with $2.7B deal (more)

• Wall Street banks reportedly sound out buyers for Subway Sandwich chain deal (more)

• KKR to acquire medical device maker Healthium from Apax (more)

• Blue Owl nearing deal to buy Linden Capital Partners stake (more)

• EQT purchases Perficient for $3B (more)

• GIP, CPPIB to buy US utility owner Allete for $3.9B (more)

• Grovecourt-backed TMC acquires Lincks (more)

• Shutterstock, a platform offering content for brands, digital media and marketing companies, acquired Envato Pty Ltd., a company specializing in digital creative assets, for $245M (more)

• Beacon EmbeddedWorks, a discoverIE Group company and global provider of embedded electronics, acquires Diamond Technologies, Inc., a provider of customized solutions for data collection (more)

• Hexaware Technologies, a leading global provider of digital solutions, today announced the acquisition of Softcrylic, a data consulting firm (more)

• ISSQUARED Inc., an IT and cybersecurity provider for businesses, acquired CCT Technologies, a company delivering high-quality IT solutions (more)

• L2 Capital buys Kosmos Q (more)

• MAI buys Harbor Wealth Management (more)

• Clearlake, Francisco Partners acquire Synopsys’ Software Integrity business (more)

• JR Technologies, an aerostream order-based travel supplier, merges with Thomalex, a provider of IT infrastructure services (more)

• Guardian Dentistry Partners, a dental partnership network, received an investment from Morgan Stanley Private Credit (more)

VC

• Zanskar Geothermal & Minerals, a geothermal exploration company, closed a $30M funding round (more)

• Stella Automative AI, a provider of automotive artificial intelligence technology, raised $19.7M in Series A funding (more)

• Anetac, a startup protecting companies from blind spots of service accounts in hybrid environments, raised $16M in funding (more)

• OverT Bio, a company working to enable the curative potential of cell therapies in solid tumors, raised $16M in Seed funding (more)

• Opmed.ai, a provider of an AI optimization platform for healthcare, raised $15M in Series A funding (more)

• Nanochon, an orthopedic device biotech company, raised $4M in its series seed prime fundraising round (more)

• Alphastream, a company which specializes in private credit analysis, raised an undisclosed amount in Seed funding (more)

• Flossy, a dental care company, raised an undisclosed amount in funding (more)

Any news or data you wish was included in your briefing?
…just hit reply and tell us!

CRYPTO

• Robinhood Crypto gets Wells notice from US SEC (more)

• India central bank to make its digital currency available offline (more)

• Crypto now has a 'Neighborhood Watch' to guard against hacks (more)

• Chris Dixon’s campaign to overhaul crypto’s grifty reputation (more)

BULLISH BITES

🍎 Today: Apple's "Let Loose" iPad event is happening - here’s what to expect.

🤑 Queue up: Scott Galloway snags a new finance podcast. A successful serial entrepreneur and NYU professor, Scott just released a new book (currently #1) The Algebra of Wealth

🍳 Napkin plan: Nvidia’s CEO co-founded his $2 trillion company at a Denny’s breakfast booth.

⌚️ Grandmaster: Sylvester Stallone to auction $2.5 million Patek Philippe in Sotheby’s trove.

🏋🏼‍♂️ High-end health: Equinox launches $40,000 membership to slow down aging.

DAILY SHARES

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