☕️ Good Morning.
The Fast Five → Fed holds rates but warns higher for longer, Klaviyo marks third biggest US IPO in a week, even Airbnb properties getting a checkmark, Cathie Wood avoided the Arm frenzy, and remember LimeWire? It’s back…
Here’s your MarketBriefing for Thursday:
BEFORE THE OPEN
As of market close 9/20/2023.
MARKETS:
Stock futures near flat line after Fed's projections
Dow futures down 0.04%, S&P 500 futures down 0.1%, Nasdaq 100 futures down 0.2%
FedEx gains 5% with strong earnings; KB Home falls 2% despite beating expectations
Klaviyo slips after public market debut
Previous session ended on a bearish note after Fed's rate hike expectations
Thursday: Weekly jobless claims and existing home sales data on the calendar
EARNINGS
Today: Darden Restaurants (DRL)
NEWS BRIEFING
Email software firm closes debut at $9.9 billion valuation. Founder Bialecki’s fortune rises to $3.4 billion with IPO.
Airbnb says it has removed 59,000 fake listings and prevented another 157,000 from joining the platform this year.
Wall Street closes lower after Fed holds rates steady, warns of higher for longer (more)
Powell says soft-landing not baseline, but it's sure in the forecast (more)
Biden launches paid program for 20,000 young people to train for green jobs (more)
FTC names three Amazon executives in amended complaint over ‘deceptive’ Prime processes (more)
MSCI’s China gauge set for 10-month low as pessimism persists (more)
Michael Bloomberg pumps $500 million into bid to close all US coal plants (more)
The childcare industry is on the cusp of a crisis (more)
Striking writers, Hollywood studios to meet again Thursday (more)
Ark CEO Cathie Wood says she avoided the Arm IPO frenzy (more)
Huawei unit ships Chinese-made surveillance chips in fresh comeback sign (more)
Tesla supplier Hota to build first US factory in New Mexico (more)
Walmart opens a pet center with veterinary care and grooming as it signals bigger ambitions (more)
Amazon plays catch-up with Alexa generative AI, shows off new, refreshed hardware (more)
SpaceX countersues Justice Department, seeking to dismiss hiring discrimination case (more)
LimeWire is back — but this time, it's all about AI (more)
Why is Y Combinator so defensive lately? (more)
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DEALFLOW
Goldman raises $14 billion for private equity secondaries fund (more)
Textron announces option to sell up to 1,500 Cessna Citation aircraft to NetJets (more)
Kioxia’s banks prep $14 billion loan for Western Digital merger
(more)
Stada owners near hiring of banks for sale or IPO (more)
Aria Growth Partners invests in LesserEvil (more)
Gemspring acquires ClearCompany (more)
Lindsay Goldberg purchases Kleinfelder Group (more)
Proteus buys CSSI (more)
NFP acquires Divergent Wealth Advisors (more)
TA-backed Netrisk Group combines businesses with Bauer Media Group (more)
Mapbox, a provider of a location platform empowering navigation for Toyota, General Motors, and BMW, received a $280M investment from Softbank (more)
Kyros, a provider of a technology platform offering Substance Use Disorder (SUD) recovery services, raised $10.5M in funding (more)
Vero Technologies, a provider of a wholesale financing technology and loan servicing platform, raised $8.5M in Series A funding (more)
Yotta Energy, a provider of solar+storage solutions, raised $8M in funding (more)
Afterparty, a provider of a platform empowering creators with the tools and technology for personal fan connections and monetization, raised $5M in funding (more)
Aspinity, a Pittsburgh, PA-based provider of near-zero power AI solutions, raised $5M in Series B funding (more)
Net At Work, a provider of a digital operations platform and technology solutions for small-to-medium sized businesses, received a growth investment from Lovell Minnick Partners (more)
M & A:
Cathie Wood's ARK lands on European shores with Rize ETF acquisition (more)
Bird Global (NYSE:BRDS), an environmentally friendly electric transportation company, acquired Skinny Labs, Inc., (doing business as Spin), a shared electric bike and scooter operator, from Tier Mobility (more)
Akeneo, a product experience (PX) company and provider of product information management (PIM) solutions, acquired Unifai, provider of an artificial intelligence (AI) data platform (more)
Gigster, a provider of a custom software development platform, acquired CodersRank, a developer of a ranking SaaS platform (more)
Acceldata, an enterprise data observability company, acquired Bewgle, a provider of an artificial intelligence platform (more)
indie Semiconductors (Nasdaq: INDI), an autotech solutions provider, acquired Exalos, a photonics company, specializing in the design of optical semiconductors (more)
CRYPTO
Citigroup debuts token service in latest foray into digital assets (more)
New York cracks down on Crypto coin listings with fresh guidance (more)
U.S. SEC’s Crypto Enforcement Chief warns more charges coming to exchanges, DeFi (more)
OPNX’s $30 million Hodlnaut bid spurned due to ‘illiquid’ token (more)
BULLISH BITES
👧🏻 ’Betweened’ Wants to Teach Kids How to Use Social Media, Not Shut Them Out of It
Instead of adding parental controls to an already existing platform, Betweened is designed for kids → TechCrunch
🚛 America’s Happiest Workers Run a Chain of Truck Stops
Love’s Travel Stops & Country Stores topped a worker wellbeing survey, besting better-known employers like IBM, Disney and Apple → Bloomberg
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