BEFORE THE OPEN

MARKETS:

• Nasdaq fell 1.04% Tuesday on Oracle's disappointing results

• S&P 500 dropped 0.57%, Dow down 0.05%

• Oracle's worst day since 2002, plunging 13.5%

• Apple shares -1.7% post-new iPhone launch; Adobe down 4% before earnings

• U.S. crude at highest since Nov., settling at $88.84, boosting energy stocks

• Chevron and Exxon Mobil up 1.9% and 2.9%

• Focus on inflation data: CPI (Wed.) and PPI (Thur.)

• European Central Bank to announce rates Thursday

EARNINGS

Here’s what we’re watching this week:

• Thursday: Adobe (ADBE)

• Full earnings calendar here

NEWS BRIEFING

Trial Day 1: Google Says It’s No. 1 Search Tool Because Users Prefer It to Rivals

Apple Event Finale: Gen Z Superstar Olivia Rodrigo Drops New Music Video Shot on iPhone 15

• Why is the US suing Google for antitrust violations? (more)

  • Quotes from first day of US v Google trial (more)

• Apple’s iPhone reveals are often a dip buyer’s dream (more)

  • Apple unveils new iPhone with titanium case, USB-C, camera improvements - holds line on prices (more)

  • Apple calls new smartwatch its first carbon neutral product (more)

• The biggest US trading partner is no longer China, it's Mexico (more)

• Wall Street sees potential UAW strikes as manageable, with upsides (more)

• Arm’s CEO is pitching a made-for-you chip strategy ahead of IPO (more)

• 2024 election ad spending likely to top $10 billion, with TV getting the biggest share (more)

• Walmart sees ‘pretty good’ holiday season with US shoppers holding up (more)

• 10-minute electric vehicle charging batteries enter mass production (more)

• Hedge fund boss calls hydrogen bets ‘complete waste of time’ (more)

• Bankers scrap for a piece of $3.1 Billion gas station deal (more)

• Target strikes deal with jeweler Kendra Scott as it gets ready for holiday season (more)

• Fanatics hires former Opendoor executive to run $5 billion sports merchandise business Ian Thomas (more)

• Amazon, Target furniture supplier goes bankrupt, citing inflation (more)

• Airlines, suppliers set to take a hit from RTX's jet engine issues (more)

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DEALFLOW

• Birkenstock files for IPO in further boost to US market (more)

• Chevron buys world's biggest hydrogen storage plant in Utah (more)

• Smurfit Kappa strikes $11B WestRock deal to create packaging leader (more)

• Australian pension fund to invest $1.6B in data center firm (more)

• TSMC to invest up to $100M in Arm Holdings' IPO (more)

• Biggest Saudi airline to list 30% stake in cargo firm IPO (more)

• H.I.G. raises $6B for its latest leveraged buyout fund (more)

• First Solar, Longroad Energy extend solar panel supply deal (more)

• China's ENN Natural Gas to sell coal miner for $915M to focus on main business (more)

• Vitol selling $459M worth of shares in Australia's Viva Energy (more)

• BV Investment Partners, a private equity firm focused on the tech-enabled business services, software and IT services sectors, closed BV Investment Partners Fund XI, at $1.75 Billion (more)

• Ascend Elements, a manufacturer of sustainable, engineered battery materials for electric vehicles, raised $542M in funding (more)

• Mighty Buildings, a company specializing in 3D printing construction technology, raised $52M in funding (more)

• SQream, a data and analytics accelerator company, raised $45M in Series C funding (more)

• Elsa, a company leveraging machine learning and speech recognition technology to teach English, raised $23M in Series C funding (more)

• CertifID, a wire fraud protection company, raised $20M in Series B funding (more)

• Treasury4, a provider of an enterprise software platform focused on treasury data, raised $20M in Series A funding (more)

• Bold, a healthy aging platform, raised $17M in Series A funding (more)

• BioLamina, a company specializing in the development and commercialization of recombinant proteins, raised €17M in funding (more)

• Optera, a company providing ESG and carbon management software, raised $12M in Series A funding (more)

• Spiritus, a climate tech company, raised $11M in Series A funding (more)

• Site Technologies, an innovator in asset management and data analytics technology utilizing artificial intelligence and advanced imagery capturing technologies, closed a $10M Series A funding round (more)

• Usage.AI, a leader in identifying cloud savings, raised $9M in funding (more)

• Gable.ai, a provider of a collaboration platform that allows developers to build and manage data assets, raised $7M in Seed funding (more)

• The Bettering Company, a luxury cannabis edibles brand, raised $6.7M in funding (more)

• Lumber, a creator of a workforce management platform for construction, raised $5.5M in Seed funding (more)

• Gem Specialty Health, Inc., a nationwide digital specialty care clinic, raised a seed financing round (more)

• Sparta Biomedical, a medical technology company, raised an undisclosed amount in convertible funding (more)

• Renibus Therapeutics, a clinical-stage biopharmaceutical company, raised an undisclosed amount in Series B extension (more)

M & A:

• Ithaca Energy acquires Shell's stake in UK Cambo field (more)

• Capgemini, a business and technology transformation services company, acquired the Financial Crime Compliance (FCC) division of Exiger, a SaaS company working for corporations, government agencies and banks supply chains (more)

• Bacardi purchases Ilegal Mezcal (more)

• OneDigital buys Triad Financial Advisors (more)

• Gordon Brothers acquires Durkin Group (more)

• Cetera acquires Avantax (more)

CRYPTO

• Binance US CEO departs as Crypto platform cuts third of staff (more)

• Fear of FTX-spurred Crypto crash is overblown, analysts say (more)

• Coinbase paves way for big institutions to do more with Web3, DeFi, NFTs (more)

• ‘Cryptoqueen’ sidekick gets 20 years for $4 billion ponzi (more)

BULLISH BITES

📱 The Science and History of the iPhone Screen
In 2007, one conversation convinced Steve Jobs to pick Corning and Gorilla Glass for the iPhone → Trung

📕 Nine Wild Details from Walter Isaacson’s New Elon Musk Biography → Platformer

🎓 Best U.S. Colleges 2024 - WSJ / College Pulse Rankings → WSJ

DAILY SHARES

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