💼 UPS cuts 12K

UPS cuts 12,000 jobs... your pre-market briefing inside →                                                                                                                                                                                                                                                                                                                                                                                                                 January 31, 2024 | [Read Online]( Good morning. The Fast Five → [UPS cuts 12,000 jobs](, [Judge voids]( Musk’s $55 Billion pay package, [Walmart]( announces 3-for-1 stock split, [consumer confidence]( hits highest level in 2+ years, and [PayPal]( to cut around 2,500 jobs… Calendar: - Today, 1/31: Fed interest-rate decision, 2:00p ET - Friday, 2/2: US unemployment rate, 8:30a ET Your 5-minute briefing for Wednesday, January 31: BEFORE THE OPEN As of market close 1/30/2024. Pre-Market: Market Recap: - S&P 500 ended flat; Dow notched seventh record. - Eyes on Fed's policy meeting for statement changes. - GM and F5 shares rose on strong earnings. - Sanmina's stock surged on impressive results. - Whirlpool outlook disappoints, shares drop. - JetBlue forecasts limited growth, higher costs. - Tech giants Microsoft and Alphabet to report. - Strong earnings season with most companies beating estimates. EARNINGS What we’re watching this week: - Today: Boeing (BA) - Thursday: Atlassian (TEAM), Honeywell (HON), Meta Platforms (META) - [Amazon (AMZN)]( - expected: $.80 per share. Revenue expected to rise 11.4% to $166.2B - [Apple (AAPL)]( - expected: $2.10 per share for Apple’s fiscal Q1 (+11.7%) on $117.9B revenue (+0.06% YoY) - Friday: Chevron (CVX), Exxon (XOM) Full earnings calendar [here]( HEADLINES [UPS is Cutting 12,000 Jobs]( UPS announced Tuesday that it will cut 12,000 jobs as part of a bid to save $1 billion costs. Managers and contractor positions will make up most of the layoffs. [Musk Judge Rules 'Unfathomable' $55B Pay Deal Made Tesla CEO Overpaid]( Process used to grant Musk record $55 billion ‘deeply flawed’. Musk says he wants bigger Tesla stake, funding to get to Mars. - IMF says global 'soft landing' in sight, lifts 2024 growth outlook ([more]() - Fed in a trust-but-verify moment as inflation falls ([more]() - US is shrinking T-Bill supply at just the right time for investors ([more]() - Consumer confidence hits highest level since December 2021 ([more]() - US home prices hit a new record high in November ([more]() - Evergrande is finished. China's property woes aren't. ([more]() - China merges hundreds of rural banks as financial risks mount ([more]() - Walmart announces 3-for-1 stock split as shares hover below all-time high ([more]() - United exec says loss of skills may have contributed to Boeing problems ([more]() - Toyota issues 'do not drive' warning to owners of 50,000 vehicles ([more]() - PayPal to cut around 2,500 jobs as rivals snag market ([more]() - CEOs from Meta, TikTok, Snap, X and Discord head to Congress for kids’ online safety hearing ([more]() - Goldman executive departure exposes weak bench ([more]() - ‘Big Short’ investor Steve Eisman shrugs off warnings on US Deficit, Stocks ([more]() - Billionaire Sternlicht sees $1 trillion loss in office values ([more]() - Scandal-hit trading desk turns into money spinner at Wells Fargo ([more]() - Tom Brady is merging his nutrition and apparel brands with training company Nobull ([more]() TOGETHER WITH IBD DIGITAL Experience IBD for just $1 — [Investor’s Business Daily]( has been helping people like you invest better for over 35 years. 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[Try IBD now for just $1]( - please support our sponsors - DEALFLOW M+A | Investments - Nippon Steel says Japan's 3 megabanks plan $16 bln loan for U.S. Steel acquisition ([more]() - AEI buys industrial facility in Alabama ([more]() - BaseMap, Inc., a GPS hunting, outdoor planning and navigation app, acquired HuntScore, a provider of hunt planning tools and research analytics ([more]() - Accenture (ACN) has completed its acquisition of Navisite, a digital transformation and managed services provider ([more]() - Summit Partners acquires CollisionRight ([more]() - LPFC acquires Northpoint ([more]() - SER Capital Partners, an independent, middle-market private equity firm, received a strategic minority investment from Capricorn Investment Group’s Sustainable Investors Fund ([more]() - Arlington invests in Afton Scientific ([more]() - CollisionRight, a provider of automotive collision repair shops in the United States, received an investment from Summit Partners ([more]() VC - [Kore.ai](, an enterprise conversational and generative AI platform technology company, raised $150M in funding ([more]() - Cour Pharmaceuticals, a clinical-stage biotechnology company, raised approximately $105M Series A funding ([more]() - Inari, a SEEDesign™ company, closed a $103M funding round ([more]() - Portal, a company advancing financial self-sovereignty with technology for access to Bitcoin and diverse cryptocurrency markets, raised $34M in Seed funding ([more]() - Sema4.ai, a startup that brings open-source powered AI to mission-critical enterprise work, raised $30.5M in funding ([more]() - Boston Metal, a metals technology solutions company, raised $20M in Series C2 funding ([more]() - Crux, a sustainable finance technology company, announced today that it has raised $18.2 million in Series A funding ([more]() - Vital Interaction, a healthcare technology company, raised $15M in Series A funding ([more]() - Cultivo, a public benefit corporation that provides an AI-driven science and technology platform, raised $14M in Series A funding ([more]() - Wisedocs, a machine learning SaaS for medical record review, indexing, and summarization, raised $9.5M in Series A funding ([more]() - Roofer.com, a technology company in the roofing industry, raised $7.5M in Seed funding ([more]() - Haven Energy, a climate tech company providing home battery systems, raised $7M in Series A funding ([more]() - Audience Town, a consumer intelligence platform that has advanced data analytics and insights for the real estate industry, raised an additional round of funding of undisclosed amount ([more]() IPO - Blackstone's Aadhar Housing Finance targets $600M India IPO ([more]() Fundraising - Acadian Ventures, an early-stage venture capital firm specializing in the future of work, closed its second fund, at $30M ([more]() Was this briefing forwarded to you? [Sign Up Here]( CRYPTO - Ethereum ETF approval expected in May, standard chartered predicts ([more]() - Jack Dorsey's Block Inc. begins layoffs under previously disclosed plan to cut staff by 10% ([more]() - Vitalik Buterin says developers should 'tread carefully' mixing crypto and AI ([more]() BULLISH BITES 🏈 Worth it: [Super Bowl 58]( ticket prices are most expensive in history. Here's how much it costs. 🚀 Growth: The best [high-yield]( savings accounts. 🧵 Craftsman: Meet the Savile Row-trained [bespoke tailor]( cutting custom suits in N.Y.C.’s Chrysler building. 🤡 Overheard: Zoom [meetings are about to get weirder]( thanks to the Vision Pro. 📈 Experience IBD for just $1! Investor’s Business Daily has been helping people like you invest better for over 35 years. [Try IBD Digital now for one full month »]( (limited time) DAILY SHARES [tw profile: zerohedge] zerohedge @zerohedge [tw] UPS workers approve massive new labor deal with big raises: Aug 23, 2023 UPS to cut 12,000 positions: Jan 30, 2024 Jan 30, 2024 12.7K Likes 2.52K Retweets 421 Replies Know someone who would enjoy this? [CLICK TO SHARE]( What did you think about today's briefing? - [⭐️⭐️⭐️⭐️⭐️ Excellent, keep it comin'!]( - [⭐️⭐️⭐️⭐️ Good stuff]( - [⭐️⭐️⭐️ It was alright]( - [⭐️ Needs work]( Like what you see? [Get tomorrow’s briefing here]( Keep the curation going! 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