â¦and itâs off to the races in Louisville (Chartr x Snacks) Sponsored by Last week's market moves Dow Jones 38,240 (+0.67%) S&P 500 5,100 (+2.67%) Nasdaq 15,928 (+4.23%) Bitcoin $64,026 (-0.01%) Dow Jones 38,240 (+0.67%) S&P 500 5,100 (+2.67%) Nasdaq 15,928 (+4.23%) Bitcoin $64,026 (-0.01%) Hey Snackers, So long, White Claw: the drink of the summer is Chartreuse, a nearly neon-green herbal liqueur made by monks in the French Alps. Last year sales hit their [highest numbers]( since the 1800s. Vintage. Markets ended an earnings-heavy last week in the green, even after the latest US GDP #s revealed inflation-slowed economic growth. This week, the Fedâs largely expected to keep interest rates the same when it meets Wednesday. VOID [The FTC bans noncompetes in a power move that could change labor lawmaking]( Tearinâ up contracts⦠The FTC [banned]( noncompete agreements last week. (FYI: a noncompete is a contract that keeps employees from joining rival companies.) The next day, the Chamber of Commerce and biz groups repping [AmEx](, [JPMorgan](, [Walmart](, and other corporations sued to block the rule. At stake: the FTCâs rule could cancel 30M noncompetes four months from now, though bankers and some senior execs would be exempt. The FTC says the contracts stifle wage growth by preventing job-hopping â and banning them could lift workersâ earnings by $400B+ over the next decade. - Pinky swear: Businesses argue noncompetes protect their intellectual property, trade secrets, hot-sauce recipes⦠basically anything confidential that gives them an edge.
- 50-nifty: A handful of states including California already donât enforce the contracts. A ban in New York (Wall Streetâs known for its noncompetes) passed but was vetoed. Beyond Wall Street⦠Nearly one in five American workers is under a noncompete. Higher-paying careers including salespeople, engineers, and doctors often require the agreement. But the list goes on to restaurant staff, power washers, cosmetologists, and other workers who make lower wages and donât know biz-specific trade secrets. - Side door: The ban may also apply, on a case-by-case basis, to â[stay or pay](â clauses that require employees to pay a lump sum if they quit before a specified time. Experts say a third of US workers are now under stay-or-pay clauses. THE TAKEAWAY The Khanconomy has big ambitions⦠For FTC Chair Lina Khan, this ban is a power move that could bust down the door for more pro-labor, economy-wide laws. Khanâs FTC has gone after big biz in courts, pursuing antitrust cases against the likes of [Amazon]( and [Microsoft](. But its track record for wins has been spotty, and Khanâs said courts are slow and timid. Ergo this noncompete ban, the first time the agencyâs made a regulation to tackle corporate competition in over a half-century. Sponsored by RAD AI â
LIMITED TIME: The AI investment for Clued-in Tech Execs Invest today! Right now, new AI tech and noise is hitting the market daily. Theyâre not all created equal⦠but execs from Google and Meta have opted to [invest in RAD AI](, an AI tech that has attracted over 7500+* investors - So why the buzz? ð±[RADâs artificial intelligence]( is poised to disrupt the massive MarTech industry - thatâs $633B and growing. ð² The company has landed clients like Hasbro and Skechers for a reason - results and the benefit [RAD AI]( deliversâ and clued-in investors see the potential. ð¥RAD AI is designed to attract quality clients with influence â and then expand it. So far, RAD AI has achieved 3.5X ROI across various clients, campaigns, and marketing channels. ð¼ RAD is a SaaS-focused model designed to retain enterprise clients for multi-year commitments â and it does. Booked revenue is up nearly 3X over the previous 12 months. So far, RAD AI has raised $27M+ from investors. We mentioned exec investors from Google, and Meta above - Other backers include The Adobe Fund for Design, execs from Amazon, and VCs like Fidelity Ventures. With over 7500+* investors, this is your last chance to invest at this round's valuation. [Closes today, April 29 - get in now!](** Sponsored by RAD AI â
LIMITED TIME: The AI investment for Clued-in Tech Execs Invest today! Right now, new AI tech and noise is hitting the market daily. Theyâre not all created equal⦠but execs from Google and Meta have opted to [invest in RAD AI](, an AI tech that has attracted over 7500+* investors - So why the buzz? ð±[RADâs artificial intelligence]( is poised to disrupt the massive MarTech industry - thatâs $633B and growing. ð² The company has landed clients like Hasbro and Skechers for a reason - results and the benefit [RAD AI]( deliversâ and clued-in investors see the potential. ð¥RAD AI is designed to attract quality clients with influence â and then expand it. So far, RAD AI has achieved 3.5X ROI across various clients, campaigns, and marketing channels. ð¼ RAD is a SaaS-focused model designed to retain enterprise clients for multi-year commitments â and it does. Booked revenue is up nearly 3X over the previous 12 months. So far, RAD AI has raised $27M+ from investors. We mentioned exec investors from Google, and Meta above - Other backers include The Adobe Fund for Design, execs from Amazon, and VCs like Fidelity Ventures. With over 7500+* investors, this is your last chance to invest at this round's valuation. [Closes today, April 29 - get in now!](** EVENTS Coming Up This Week Fancy hats and mint juleps⦠Hundreds of thousands of horse-racing fans will head to Louisville this weekend to watch the 150th Kentucky Derby. This yearâs âRun for the Rosesâ is already boosting biz. [Airbnb]( said searches for Louisville stays during Derby week were up 30% from last year, and the cityâs airport expects a record number of fliers. Last week, Derby parent [Churchill Downs]( said its Q1 revenue jumped 6% to an all-time high of over $590M thanks partly to record sports betting. Churchill said tickets to the Derby-versary have seen unprecedented demand. Bruised apple⦠Apple lost its spot as Chinaâs #1 smartphone last month, after iPhone sales sank 19% in Q1. FYI: iPhones make up over half of the tech giantâs revenue and China is Appleâs third-biggest market. Sales have slipped as China-based rivals like Huawei and Honor bite into market share. Apple and Amazon are the latest of the âMag 7â (which include [Google](, [Meta](, Microsoft, [Tesla](, and [Nvidia]() to report this week. So far, only Tesla has missed earnings estimates, and analysts expect the groupâs profits to jump 38% for Q1. ZOOM OUT Stories We're Watching Laborâs potential âMaydayâ⦠International Workersâ Day is Wednesday, and US labor has somethinâ to celebrate. This month, [Volkswagen]( became the first non-Big 3 automaker in the South to unionize while âSesame Streetâ writers scored a new deal, averting a strike. Workers are continuing wins from last year, when 100K+ workers unionized with help from the National Labor Relations Board, a 20-year+ high. But a Supreme Court case between the board and [Starbucks]( (which reports tomorrow) could shift the momentum: Starbs is seeking to limit the agencyâs powers. Googleâs rot problem⦠Googleâs core product â search â has come under fire as critics say its once streamlined design has become bloated under ads and spam. Researchers found itâs become less-user friendly, weighed down by lower-quality top results as netizens learn to game the system â issues that could compound as GenAI spreads across the web. Ed Zitron [dove into]( how Googleâs efforts to please Wall Street pushed out a staffer who helped build the search engine. The result: allowing the foundation of the modern internet to become a worse product. What else we're Snackin' - [Glitch](: [TSMC]( the top chipmaker, has gotten billions from the Biden admin to ramp up semiconductor facilities in Phoenix. But clashing work ethics â and tensions between US and Taiwanese workers â have reportedly led to production delays.
- [Flight](: Luxury air-taxi biz [Blade]( has become more of an ambulance than a fancy ride to the airport. Last year over half of its revenue came from delivering hearts, livers, and lungs around the US.
- [ESGone](: Withdrawals from ESG (environmental, social, governance) funds hit their worst-ever level in Q1 as US clients pulled out ~$9B. Poor returns in industries like wind and solar have hurt sustainable investments. Snack Fact of the Day [About a quarter of US adults 50+ have no retirement savings]( This Week Monday: International Dance Day. Earnings expected from Dominoâs, Royal Philips, Paramount Global, and NXP Semiconductors Tuesday: Binance founder Changpeng Zhao expected to be sentenced. February US house-price index. April consumer-confidence index. Asian Pacific American Heritage Month begins. Earnings expected from 3M, PayPal, Eli Lilly, McDonaldâs, Enterprise Products Partners, Coca-Cola, SiriusXM, Marathon Petroleum, Archer Daniels Midland, Stellantis, HSBC, GE HealthCare, Amazon, Advanced Micro Devices, Supermicro, Starbucks, Pinterest, Caesars Entertainment, and Mondelez Wednesday: Fed interest-rate decision. Job openings. Earnings expected from eBay, Pfizer, CVS, Mastercard, Norwegian Cruise Line, Kraft Heinz, Marriott, Estée Lauder, ADP, Garmin, GlaxoSmithKline, DuPont, Yum Brands, and DoorDash Thursday: Weekly jobless claims. Earnings expected from Apple, US Steel, Kellanova, Amgen, Shell, ConocoPhillips, Cigna, and Wendyâs Friday: April jobs data. World Press Freedom Day. Earnings expected from Cheniere Energy, Hershey, and FuboTV Authors of this Snacks own shares of Apple, Kraft Heinz, Norwegian Cruise Line, and Microsoft Advertiserâs Disclosure: *The 7500+ individual investors is as of 04/22/24. **This is a paid advertisement for RAD AIâs Regulation CF offering. Please read the offering circular and related risks at [invest.radintel.ai](. Equity crowdfunding investments in private placements, and start-up investments in particular, are speculative and illiquid. They involve a high degree of risk and those investors who cannot afford to lose their entire investment should not invest in start-ups. [Instagram]( [Twitter]( [Sherwood Logo](sherwood.news) Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... [See more]( [Sherwood Terms and Conditions]( [Our Editorial Standards]( [Contact Us](mailto:hellosnacks@sherwood.news) [Advertise With Us](mailto:advertising@sherwoodmedia.com) [Unsubscribe]( [Privacy Policy](