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BEFORE THE OPEN

Pre-Market:

US Investor % Bullish Sentiment:
38.27% for Wk of Apr 18 2024 (Last week: 43.44%)

Market Recap:

• S&P 500 futures up 0.1%, Nasdaq 100 futures surge 0.4%.

• Tesla rises 10% on "affordable" EV plan, misses Q4 forecast.

• Visa, Texas Instruments soar 2% and 6% on robust earnings.

• Over 75% of S&P 500 beat estimates in earnings.

• Markets extend gains; Dow up nearly 0.7%.

• Today: Boeing, Hasbro, Meta Platforms, Ford, Chipotle, IBM.

• Investors await morning durable goods data.

EARNINGS

What we’re watching this week:

• Today: AT&T (T), Ford Motor (F), Lennox International (LII)

  • Meta Platforms (META) - $4.31 EPS expected on revenue of $36.1B (+26.1% YoY)

• Thursday: American Airlines (AAL), Caterpillar (CAT), Hertz Global (HTZ), Roku (ROKU), Teladoc (TDOC)

  • Alphabet (GOOGL) - $1.89 EPS expected on $69.78B revenue

  • Microsoft (MSFT) - $2.82 EPS (+15.1% YoY) on $60.8B revenue (+14.9% YoY)

• Friday: AbbVie (ABBV), Chevron (CVX), Exxon Mobil (XOM)

Full earnings calendar here

A MESSAGE FROM BEHIND THE MARKETS

HEADLINES

Tesla Speeds Plan for Cheaper Cars by 2025, Calming Fears Over Strategy

FTC Votes to Ban Noncompete Agreements

• Senate advances long-awaited aid for Israel, Ukraine, Taiwan, and TikTok bill (more)

  • ByteDance, TikTok shelled out $7 million on lobbying and ads to combat potential US ban (more)

• Millions more salaried workers will be eligible for overtime pay under final Biden administration rule (more)

• Labor Department issues rule to crack down on bad retirement savings advice (more)

• Gold’s record-setting rally may have its roots in Chinese frenzy (more)

• ‘Chaotic era’ for Asian currencies: Bank of America not bullish on any of them (more)

• More than one in five cars sold in 2024 will be electric (more)

• Tesla to cut more than 6,000 jobs in Texas, California (more)

• Apple sends invites to May 7 launch event, new iPads expected (more)

• Amazon steps up grocery delivery war with Walmart, Target (more)

• Walmart-backed fintech One introduces buy now, pay later as it prepares bigger push into lending (more)

• Perplexity is raising $250M+ at a $2.5B-$3B valuation for its AI search platform (more)

• Billionaire donors rethink Columbia University support amid pro-Palestinian protests (more)

DEALFLOW

M+A | Investments

• JD Sports to buy US rival Hibbett in $1.08B sportswear retail deal (more)

• Boeing, Spirit agree $425M deal to address supplier's issues (more)

• IBM is in advanced talks to acquire software provider HashiCorp (more)

• Ithaca Energy snaps up Eni's UK assets in $940M North Sea deal (more)

• Germany's RTL acquires Nickelodeon rights for children's TV network (more)

• Infinite Reality buys drone racing league for $250 Million (more)

• Allfunds abandons talks about potential sale (more)

• CVC explores options for Italy's Recordati (more)

• Planoly, a social media management platform for creators and small businesses, acquired Snipfeed, a provider of a monetization tool for social media (more)

• Betterment, an independent digital investment advisor in the US, announced an agreement with Goldman Sachs to acquire Marcus Invest’s digital investing accounts (more)

• Thunes, a global cross-border payments company, acquired Tilia LLC, a provider of a payments platform (more)

• Cognitus, a software solutions provider and digital transformation business, received a growth investment from Siguler Guff & Company and Haven Capital Partners (more)

VC

• Main Street Capital Corporation (MAIN), an investment firm, announced that since year-end it has invested a total of $36.6M in five existing lower middle market portfolio companies (more)

• Outpost, a provider of a network of managed semi-truck parking facilities, raised $12.5M in Series A funding (more)

• 401GO, a retirement plan provider for employers, raised $12M in Series A funding (more)

• HighByte, an industrial software company, raised $12M in Series A funding (more)

• Summer Health, a digital health company offering 24/7 pediatric support to parents, raised $11.65M in Series A Funding (more)

• Prophet Security, a company that helps security operations by automating response process for alerts, raised $11M in Seed funding (more)

• Nominal, a company specializing in creating end-to-end data analysis solutions for industrial engineering teams, raised $7.5M in Seed and $20M in Series A funding rounds (more)

• Prime intellect, a provider of an open and decentralized AI platform and protocol enabling access, raised $5.5M in Seed funding (more)

• Red Arrow Therapeutics Inc., a developer of pH-sensing nanomedicine drug delivery technologies, closed a $4.5M Seed Extension round (more)

• Bump, a provider of a wealthtech and financing platform for creators, raised $3M in Seed funding (more)

• Sustain Exchange, LLC, a startup focused on creating positive change in transactions while aligning with the 17 UN Sustainable Development Goals, closed a $2M seed funding round (more)

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CRYPTO

Powered by MILKROAD - Get smarter about crypto in 5 min.

• Hedge funds are succumbing to mind-boggling returns of memecoins (more)

• Do Kwon, Terraform Labs should get $5.3B fine, SEC tells court (more)

• Jack Dorsey’s Block finishes development of Bitcoin mining chip (more)

• Hong Kong Crypto ETF launches will test ambition to be digital-asset hub (more)

BULLISH BITES

📅 Tax tip: Here’s what to do if you missed the federal tax deadline.

⚖️ Uphill battle: WeWork founder Neumann wants bankruptcy court's help in bid to repurchase company.

💵 Invest Smarter: Get your investing edge with Al-powered emerging trends and social sentiment analysis. Save up to 69% for a limited time » *

🤔 Moving on: Has everyone already forgotten about the Apple Vision Pro?

📧 Agree? Email isn’t just annoying to Gen Z—it’s stressing them out.

DAILY SHARES

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