💼 Capital One + Discover

Capital One is acquiring Discover Financial Services... your pre-market briefing inside →                                                                                                                                                                                                                                                                                                                                                                                                                 February 20, 2024 | [Read Online]( Good morning. The Fast Five → [Capital One]( is acquiring Discover Financial Services, tomorrow’s [Nvidia earnings]( a huge test for AI-led rally, Goldman lifts [S&P 500 target]( to 5,200, more Wall Street firms are [flip-flopping]( on climate, and [Zuck explains]( why tech companies are cutting jobs… Calendar: - Today: US leading economic indicators, 10:00a ET - WED, 2/21: Minutes of Fed’s January FOMC meeting, 2:00p ET Your 5-minute briefing for Tuesday, February 20: BEFORE THE OPEN As of market close 2/16/2024. Bitcoin as of 2/19/2024. Pre-Market: Market Recap: - S&P 500 futures flat after first losing week in over a month. - Nasdaq 100 futures near flat; Dow futures down 0.1%. - Last week, economic data raised Fed rate cut concerns. - Nasdaq fell over 1.3%; S&P 500 slipped about 0.4%; Dow lost 0.1%. - PPI data showed higher-than-expected wholesale prices. - Shortened trading week with focus on leading index and nonmanufacturing data. - Home Depot and Walmart earnings due before the bell; Palo Alto Networks after. EARNINGS What we’re watching this week: - Today: Caesars Entertainment (CZR), Palo Alto Networks (PANW), Teladoc (TDOC) - [Home Depot (HD)]( - expected: $2.77 per share (-16% YoY) on $34.6B revenue (-3.3% YoY) - [Walmart (WMT)]( - expected: $1.64 per share on $170.7B revenue (+4.0% YoY) - Wednesday: Etsy (ETSY) - [Nvidia (NVDA)]( - expected: $4.56 per share, up from 88 cents the year prior. Revenue is forecast to jump to $20.4B from last year's $6.1B. - Thursday: Intuit (INTU), Live Nation (LYV), Moderna (MRNA), Wayfair (W) - Friday: Warner Bros. Discovery (WBD) Full earnings calendar [here]( HEADLINES [Capital One Acquiring Discover Financial Services]( Purchase of credit-card lender may come as soon as this week. Deal would rank among year’s top acquisitions so far this year. [Nvidia Earnings Are Huge Test For AI-Led Market Rally]( Nvidia earnings Wednesday will be a critical test for the AI-led market rally. Nvidia earnings and guidance will have a big impact directly via NVDA stock. - Goldman lifts S&P 500 target to 5,200 on profit expansion ([more]() - Biden admin doubling down on gas car crackdown ([more]() - US to award $1.5B to GlobalFoundries in Chips Act grant ([more]() - Retirements spike again as stock market booms ([more]() - Magnificent 7 profits now exceed almost every country in the world ([more]() - Wall Street banks are trying everything in fight to win underwriting deals ([more]() - Cracks start to emerge in global central bank synchronicity ([more]() - Systemic risk concerns grow among money managers as real estate woes cause turmoil ([more]() - China boosts property funding with first cut in key loan rate since June ([more]() - France’s bulging pipeline keeps Paris bankers busy ([more]() - Wall Street firms are flip-flopping on climate ([more]() - Autoparts giant Forvia to cut 10000 jobs amid shift to EVs ([more]() - Nike to cut more than 1,500 jobs in a broad restructuring ([more]() - Zuckerberg explains why tech companies are cutting jobs ([more]() - Reddit signs AI content licensing deal ahead of IPO ([more]() TOGETHER WITH COINSMART Buying Bitcoin is quick and easy — [Buying Bitcoin is quick and easy with CoinSmart](— The world's most accessible crypto exchange. 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[Get Started]( ~ please support our sponsors ~ DEALFLOW M+A | Investments - US investor in talks with Superdry co-founder about a bid for the chain ([more]() - Polymetal International agrees to sell Russian assets in $3.69B deal ([more]() - Australia's Seven Group offers $1.2B for full control of Boral ([more]() - Turkey’s Peninsula and Denon merge to form investment bank ([more]() - Pipeline owner DT Midstream is evaluating M&A opportunities ([more]() - KKR leads financing for Clarience Technologies’ deal for Safe Fleet ([more]() - Uniti is in talks to merge with telecom provider Windstream ([more]() - Signal AI, a company specializing in reputation and risk intelligence, acquired Social 360, a reputation intelligence monitoring company ([more]() - Motorola Solutions (MSI), acquired Silent Sentinel, a provider of specialized, long-range cameras ([more]() - Avista Capital Partners buys Terrats Medical from Miura Partners ([more]() - WHP Global, Guess? acquire Rag & Bone ([more]() - General Atlantic, Stone Point purchase HireRight ([more]() - Constantia Flexibles buys 57 percent of shares of Aluflexpack ([more]() - Bridge growth-backed Synth buys proceed groups’ Rightsizer Software ([more]() VC - DataBank, a provider of enterprise-class edge colocation, interconnection, and managed cloud services, issued $456M of secured notes ([more]() - Overmoon, a provider of a tech-enabled vacation rental platform, raised $80M in Equity and Debt funding ([more]() - Flower Labs, a provider of an open-source framework and ecosystem to accelerate the mainstream adoption of federated and decentralized AI, raised $20M in Series A funding ([more]() - Rogo, a generative AI company for financial institutions, raised $7M in Seed funding ([more]() - BioNeex, a provider of a biopharmaceutical industry’s research and development business development platform, raised $500K in Seed funding ([more]() - Pivt, a NYC-based workforce relocation company, raised an undisclosed amount in funding ([more]() - Avatar Medical, a company providing a real-time solution for surgeons to engage with patients, raised €5M in Seed funding ([more]() Was this forwarded to you? [Get tomorrow’s briefing here]( » CRYPTO - Ether could be the next 'institutional darling,' Bernstein says ([more]() - Bitcoin steady over $52K;traders target $55K in short-term ([more]() - Japan moves to allow investment funds to hold crypto ([more]() BULLISH BITES 🎙 Interview: Figma’s CEO on life after the company’s [failed sale]( to Adobe. 👜 Crafting desire: How [Hermès]( sells "time". 🤖 AI boom: Tech leaders fled San Francisco during the pandemic. Now, [they’re coming back](. 🌠 Disney star turned space CEO: [Bridgit Mendler]( launches satellite data startup backed by major VCs. ✅ [Buying Bitcoin is quick and easy with CoinSmart](— Sign up with code: “getcrypto” and get $20 of BTC when you fund your account with a minimum of $100. DAILY SHARES [tw profile: The Maverick of Wall Street] The Maverick of Wall Street @TheMaverickWS [tw] Market Maker looking to collect $NVDA options premiums this week Feb 19, 2024 257 Likes 19 Retweets 23 Replies [tw profile: Ramp Capital] Ramp Capital @RampCapitalLLC [tw] VP of sales Back end developer Feb 19, 2024 290 Likes 11 Retweets 10 Replies [tw profile: Rupak] Rupak @ghose77 [tw] Boomer VC meeting founders… Feb 19, 2024 11 Likes 3 Retweets 0 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? 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