Before the Open (Sep 11-15)

Good morning. Happy Friday.

The Asian/Pacific markets were mostly up. Japan and the Philippines were weak, but China, Hong Kong, South Korea, Taiwan, Australia, Malaysia and Singapore did well. Europe, Africa and the Middle East are currently doing well. The UK, Poland, France, Germany, the UAE, Greecee, Finland, Switzerland, Hungary, Italy and Sweden are leading. Futures in the States point towards a slight down open for the cash market.

————— VIDEO: My Favorite Bottoming Pattern —————

The dollar is unchanged. Oil is up a small amount; copper is down. Gold and silver are up. Bonds are down.

Stories/News from Seeking Alpha…

Next stop

Oil prices have crossed $90 per barrel for the first time since November 2022, sending ripples through many parts of the economy. There are a variety of reasons for the upward climb, most notably the recent production cuts by Saudi Arabia and Russia, but the pace at which oil is ascending is becoming a bigger topic of discussion. After remaining below $80 per barrel for most of the year, WTI crude (CL1:COM) broke above that level in the summer – and has soared over 17% over the past three weeks – helping to raise costs on everything from transportation to manufacturing.

No peak yet: Resurgent energy prices are a particular headache for the Federal Reserve, which was recently celebrating some wins on the inflation front. In fact, U.S. consumer prices in August rose by their most in more than a year, driven by a nearly 11% increase in retail gasoline prices. A weakened Chinese economy was also thought to sap global oil demand, but supply appears to be the bigger problem, with oil and gas companies quick to point out the regulatory restrictions on their sector.

While releases from the Strategic Petroleum Reserve were commonplace in 2022, when Russia began its invasion of Ukraine, those drawdowns have brought SPR supplies to their lowest level in 40 years. If WTI crude would top $100 per barrel, the Biden administration would likely consider additional releases, but until then, there are some other options under consideration. Regular discussions are taking place with domestic producers and refiners, as well as international options like easing restrictions on exports from Iran or Venezuela.

SA commentary: “U.S. shale is running out of stream,” declared Investing Group author Leo Nelissen. “We’re not seeing peak oil but a significant decline in supply growth. Producers are seeing rapidly declining Tier 1 drilling reserves. They focus on free cash flow generation instead of production growth and reward investors through dividends and buybacks. They have learned their lesson – especially in an environment where new climate movements want to put big oil out of business.”

On strike

The United Auto Workers has gone on strike against the “Detroit Three” after employees’ four-year contracts with the companies expired at midnight. Around 13K auto workers went on strike at three factories owned by General Motors (GM), Ford (F) and Stellantis (STLA), marking the first ever simultaneous strike. The walkouts will halt production of popular vehicle models including Ford Bronco, Jeep Wrangler and GMC Canyon, sending shares of the Detroit Three into the red before the bell. SA analyst Doron Levin expects the companies and UAW to meet in the middle, but warned that “the latest spectacle of angry employees and frustrated executives provides a solid reason to avoid the Detroit industry.” (40 comments)

IPO exuberance

Arm Holdings (ARM) closed up nearly 25% on Thursday, reaching a valuation of nearly $68B, in a stellar trading debut that reignited IPO market hopes. Arm, majority-owned by Softbank (OTCPK:SFTBY), sold more than 95.5M shares in the biggest initial public offering of the year, while Softbank CEO Masayoshi Son said he intends to maintain his 90% stake for “as long as possible.” Not everyone is that confident. Investing Group Leader Stone Fox Capital warned that living up to lofty expectations following the hot IPO is nearly impossible, drawing comparisons to Rivian’s (RIVN) $12B IPO and the over 80% decline in stock price since its debut. (68 comments)

Possible sale

Media mogul Byron Allen made a $10B offer to Disney (DIS) to purchase the ABC TV network, local stations, as well as the FX and National Geographic cable channels. The news follows reports of Disney holding early talks to sell its ABC network and stations to broadcast group Nexstar Media (NXST). Allen is expected to work with banks and private equity firms to finance a potential deal, declaring intentions to acquire TV broadcast affiliates to boost his holdings in local broadcast networks. The latest offer comes after Allen, who owns the Weather Channel, reportedly bid for BET Media. (31 comments)

Today’s Economic Calendar
8:30 Empire State Mfg Survey
8:30 Import/Export Prices
9:15 Industrial Production
10:00 Consumer Sentiment
1:00 PM Baker Hughes Rig Count

What else is happening…

Staying resilient: Winners and losers from the August retail sales report.

Producer prices rise more than expected; core PPI matches estimates.

AT&T (T) rises after backing up full-year guidance for free cash flow.

ECB hikes rate another 25 bps, trims economic growth projections.

Taiwan Semi (TSM) tells suppliers to delay chip gear deliveries.

Adobe (ADBE) shares little changed after quarterly earnings beat.

RTX’s talks with Saudi defense firm collapse amid security concerns.

Belgium to check Apple’s (AAPL) iPhone 12’s potential radiation risks.

Google (GOOG, GOOGL) reaches settlement over location privacy.

Tech rivals Microsoft (MSFT), Oracle (ORCL) expand cloud partnership.


Good morning. Happy Thursday.

The Asian/Pacific markets were mostly up. Japan, Hong Kong, South Korea, Taiwan, Singapore, Thailand and the Philippines did well; New Zealand was weak. Europe, Africa and the Middle East are currently doing well. The UK, Poland, South Africa, Finland, Norway, Portugal, Austria, Sweden and the Czech Republic are up; Turkey and Russia are down. Futures in the States point towards a positive open for the cash market.

————— VIDEO: My Favorite Bottoming Pattern —————

The dollar is up. Oil and copper are up. Gold and silver are down. Bonds are down.

Stories/News from Seeking Alpha…

Shut your engines

The auto sector is on watch as negotiations between the UAW union and Detroit carmakers – Ford (F), General Motors (GM) and Stellantis (STLA) – head down to the wire. Things have gone back and forth over the last several weeks, but they aren’t looking good ahead of today’s strike deadline at 11:59 p.m. ET. Contributing to the tensions has been the industry’s shift toward EVs, which has created new manufacturing dynamics – such as less of a need for engine and transmission plants, as well as new battery factories that are largely not unionized.

Defining moment: “To win, we’re likely going to have to take action,” UAW President Shawn Fain declared. “Just as we have approached our negotiations differently than we have in the past, we’re preparing to strike these companies in a way they’ve never seen before.” While the rhetoric remains charged, a targeted walkout is likely to first hit specific U.S. factories before an all-out strike envelops one or more companies, especially if it helps the UAW avoid distributing strike pay to its 146,000 members.

At issue are the terms surrounding new four-year labor contracts for Big Three auto workers. Demands range from higher wages, more paid time off, reduced workweeks, a return to traditional pensions, the elimination of wage classification tiers and a shift back towards cost-of-living adjustments. However, the two sides have grown increasingly skeptical of each other, trading accusations of “no genuine offers,” “negotiations in bad faith” and “not showing up to the bargaining table.”

Ripple effects: A 10-day strike could cost the U.S. economy $5.6B in gross domestic product, according to the Anderson Economic Group, and push the Michigan economy into a recession. The firm added that lost worker pay could be equal to $859M and lost automaker earnings could be $989M, while continuing to deplete dealership stock levels and impacting prices. A disruption could also deal a sizable economic blow to the broader auto network, like parts suppliers including Lear Corp. (LEA) and Magna International (MGA).

CPI recap

Retail inflation heated up again in August, with the Consumer Price Index rising 0.6% M/M and 3.7% Y/Y, fueled by higher gasoline and housing prices. Stock markets still largely cheered the data, though concerns over inflationary pressures remained. “The Fed’s rate-hike cycle most assuredly ended in July,” noted Investing Group Leader Lawrence Fuller as core figures signal that inflation is continuing to moderate. ING economists, however, expect the Fed to keep one further hike in their dot plot forecast until the end of 2023. (328 comments)

The right arm?

British chip designer Arm Holdings (ARM) has priced its initial public offering of 95.5M shares at $51 apiece, at the upper end of the expected range of $47-$51. This gives Arm, majority-owned by Softbank (OTCPK:SFTBY), a valuation of more than $54B. The IPO was oversubscribed by 10 times, with major companies such as Intel (INTC), Nvidia (NVDA) and Apple (AAPL) eyeing $735M of the float. SA analyst David Krejca believes the IPO price is very generous, saying long-run investors are better off waiting for lower prices, while Cavenagh Research said Arm’s leadership in the CPU industry and its AI involvement make it an attractive investment opportunity. Also see what WSB subscribers think about investing in IPOs before Arm begins trading today. (60 comments)

Casino hackers

Caesars Entertainment (CZR) is expected to disclose in a regulatory filing that it paid tens of millions of dollars to hackers who infiltrated the company’s systems in recent weeks and demanded a ransom. The group, known as Scatter Spider or UNC 3944, is experienced at social engineering tricks to gain access to corporate networks. A different hacking group is also believed to be responsible for the hacking incident that disrupted systems at MGM Resorts (MGM) this week, impacting everything from the casino floor to online bookings. Reports indicate the hackers impersonated an employee and gained access to MGM’s systems after a short phone call to its IT help desk. (17 comments)

Today’s Economic Calendar
8:30 Initial Jobless Claims
8:30 Producer Price Index
8:30 Retail Sales
10:00 Business Inventories
10:30 EIA Natural Gas Inventory
4:30 PM Fed Balance Sheet

What else is happening…

France orders Apple (AAPL) to stop iPhone 12 sales over high radiation.

Citigroup (C) realigns corporate structure to reduce management layers.

Netflix (NFLX) drops as ad tier not seen driving revenue in short term.

Senate AI summit gathers tech leaders for closed-door policy talks.

Curaleaf chairman sees DEA agreeing to reschedule marijuana.

Google (GOOG, GOOGL) lays off hundreds from recruiting team.

Visa (V) starts shareholder talks on exchange offer for class B shares.

Goldman (GS) fires transaction banking execs over compliance lapses.

Starbucks (SBUX) visionary Howard Schultz steps down from board.

FTX gets green light to sell its cryptocurrency holdings worth $3.4B.


Good morning. Happy Wednesday.

The Asian/Pacific markets were mostly weak. Taiwan and New Zealand did well, but Japan, China, Hong Kong, Australia, Thailand and the Philippines were weak. Europe, Africa and the Middle East are down big. Denmark, France, Germany, Russia, Greece, South Africa, Finland, Spain, the Netherlands, Italy, Austria and Sweden are all down big. Futures in the States point towards a down open for the cash market.

————— VIDEO: My Favorite Bottoming Pattern —————

The dollar is down. Oil is up; copper is unchnaged. Gold and silver are down. Bonds are down.

Stories/News from Seeking Alpha…

Inflation check

All eyes are turning to the Consumer Price Index report due later today, as traders hope for more clues on whether the Federal Reserve is done with its tightening cycle. The headline inflation rate has been steadily tracking downwards at around 2.5% in the past couple of months, bolstering expectations of a soft landing. However, the core figure remains elevated, because of which Fed officials are hesitant to declare victory in their fight to tame inflation.

Market expectations: Headline inflation is expected to rise 3.6% Y/Y in August, accelerating from 3.2% in July. However, the core number – excluding volatile food and energy prices – is expected to increase 4.4% Y/Y, easing from 4.7% in July. The Cleveland Fed Inflation Nowcast estimates an even bigger increase in headline inflation, to 3.8%, while core inflation is estimated to ramp up to 4.5%. On a month-over-month basis, CPI is widely expected to rise 0.6% in August from 0.2% in July, and core CPI is anticipated to scale 0.2% higher, the same increase it saw in the prior month.

Trouble spots: Kevin Rendino, CEO of 180 Degree Capital (TURN), expects the August report to show “a similar trend to what we’ve been seeing for over a year.” A major concern is rising crude prices, which have fueled concerns of inflation pressures continuing for longer than expected. While headline and core inflation have receded from their peaks of last summer, “some trouble spots remain,” said Bankrate Chief Financial Analyst Greg McBride, including shelter and automotive costs. Markets continue to expect the Fed to leave rates unchanged at its meeting next week, although there is still some uncertainty regarding the remaining meetings this year.

What to watch: Even as the equity market dreams about rate cuts, the bond market has accepted that inflation will likely be here for longer, Mott Capital Management’s Michael Kramer noted in The Inflation Nightmare May Come Back To Haunt The Market This Week. With oil and gasoline prices on the rise, “it serves as a reminder that the Fed may be slowing the pace of rate hikes, but unless the data starts to change materially, the Fed probably isn’t finished raising rates.” (3 comments)

iPhone 15

Apple (AAPL) failed to excite investors with its new iPhone 15 lineup and the next generation of Apple Watch operated by finger movements, with its shares ending 1.7% lower. While some analysts expected the iPhone 15 to be more expensive, Apple kept its price unchanged. Prior to the launch, SA analyst Michael McGrath had said price hikes would be a viable revenue-increasing strategy as iPhone sales saturate. The iPhone 15 includes “Dynamic Island” – an interface previously exclusive to iPhone 14 Pro and Pro Max – and the Pro version will feature the new A17 chip, which should upgrade the gaming experience. The Pro’s price was unchanged and Pro Max was raised to $1,199 from $1,099. All products now have USB-C charging ports in compliance with European law. (215 comments)

Surprise exit

BP (BP) CEO Bernard Looney has resigned with immediate effect after admitting he was “not fully transparent” about detailing past personal relationships with colleagues, sending its shares down 1.3%. BP CFO Murray Auchincloss will serve as interim CEO. The oil and gas giant’s board began reviewing allegations about such relationships in May, and no breach of the company’s code of conduct was found. However, “further allegations of a similar nature” recently surfaced and the probe remains ongoing. Looney, who took over the company in 2020, had laid out ambitious plans for BP to cut emissions. His exit has sparked uncertainty over these plans. (38 comments)

Tracking emissions

California legislators have passed a first-of-its-kind bill that will require large companies operating in the state to disclose all emissions tied to their operations and supply chain. The state senate approved the bill, sending it to Governor Gavin Newsom, who will decide on signing it by October 14. The bill, aimed at businesses with $1B or more in annual revenue, will require companies to report a wide range of emissions, including Scope 3 emissions, which opponents said would be nearly impossible to measure accurately. The California bill was supported by several big companies, including Apple (AAPL) and Google (GOOG, GOOGL), but was fiercely opposed by the state’s Chamber of Commerce. (126 comments)

Today’s Economic Calendar
7:00 MBA Mortgage Applications
8:30 Consumer Price Index
10:00 Atlanta Fed’s Business Inflation Expectations
10:30 EIA Petroleum Inventories
1:00 PM Results of $20B, 30-Year Bond Auction
2:00 PM Treasury Statement

What else is happening…

CDC recommends updated COVID shots for fall/winter virus season.

DOJ: Google (GOOG, GOOGL) pays $10B yearly to maintain monopoly.

T-Mobile to buy 5G airwaves from Comcast (CMCSA) for up to $3.3B.

Amazon (AMZN) to hike wages for third-party contract delivery drivers.

More job cuts likely at Wells Fargo (WFC) as bank improves efficiency.

These over-the-counter cold remedies could be pulled after FDA vote.

Binance.US chief Brian Shroder quits, over 100 employees laid off.

Rocket Lab (RKLB) declines after founder files to sell $22M in shares.

German sandal maker Birkenstock, backed by LVMH, files for U.S. IPO.

The GameStop (GME) meme stock frenzy of 2021 hits the big screen.


Good morning. Happy Tuesday.

The Asian/Pacific markets leaned down. Japan and Taiwan did well; Hong Kong, South Korea, India and Indonesia were weak. Europe, Africa and the Middle East are mixed. Russia, Switzerland, Spain and Israel are up; Germany, South Africa, Finland, Hungary, the Netherlands and Saudi Arabia are down. Futures in the States point towards a down open for the cash market.

————— BLOG: Random Musings about the Current Market —————

The dollar is up. Oil is up; copper is down. Gold and silver are down. Bonds are up.

Stories/News from Seeking Alpha…

Game of monopoly

The biggest antitrust trial of the modern digital era lands in court today as the U.S. Department of Justice faces Google (GOOG, GOOGL) in a lengthy showdown over its dominance in online search. The suit is a holdover from the Trump administration, which took an activist regulatory approach against Big Tech that has continued under President Biden. The coming trial is expected to last two months (before any appeals), but Alphabet also faces litigation over competitive practices in Europe, as well as a separate challenge in the U.S. over its advertising technology business.

The plaintiff: The DOJ will argue that Google did not cement its monopoly through innovations, but rather via exclusive contracts and deals that made it the default search engine on phones and internet browsers. Those “bad acts” and “illegal means” made it extremely difficult or impossible for any rivals to thrive, and cut off the routes its competitors could take to get in front of consumers. Exclusionary provisions are even said to be behind Google owning 90% of the search traffic on the web, with its contracts helping it achieve that dominant position.

The defendant: Google lawyers will maintain that contracts struck with the likes of Apple (NASDAQ:AAPL), Samsung (OTCPK:SSNLF), Firefox and Verizon (NYSE:VZ) are not exclusive and haven’t prevented people from searching out other search engines. They’ll also argue that its product provides a better experience, while zooming in on specific definitions and taking a broader outlook on web traffic. For example, there are many places where searches are conducted, like on the platforms of Amazon (AMZN) and Meta (META), with those companies also paying close attention to the courtroom battle.

What to watch: The trial will determine whether the U.S. government can bring a successful monopoly case against Big Tech, after previous failures with IBM (IBM) (dismissed in 1982) and Microsoft (MSFT) (settled in 2002). However, even if the government wins this time around, a breakup or divestitures are not expected, but rather remedies that can include absolving Google’s exclusive search deals. Any decision will also have an impact on the future of innovation, including how much data can be collected in the coming age of artificial intelligence and other new technologies.

Packaging giant

WestRock (WRK), one of the largest containerboard producers, and Europe’s Smurfit Kappa (OTCPK:SMFTF) have signed a definitive agreement to create a $20B packaging giant. News of the deal overnight saw WestRock climb 8% before the bell, while Smurfit’s London-listed shares declined 9%. Despite the companies touting the benefits of the deal, Jefferies had warned of “limited synergies” to having a global footprint in the paper packaging industry and West Monroe’s Randal Kenworthy called the tie-up a “distraction”. However, SA analyst Mare Evidence Lab views the deal as positive, given that WestRock’s fundamentals are under pressure.

Capital rules

JPMorgan Chase (JPM) CEO Jamie Dimon has once again slammed U.S. regulators’ proposal for higher capital requirements for banks, calling it “hugely disappointing” as it could force borrowers to pay more for loans and may curtail lending by banks. The higher capital rule is part of the “Basel III endgame” reforms proposed by regulators in July. Dimon is not the only one on Wall Street unhappy with the proposal, as other bank CEOs have also echoed his views, as well as some Federal Reserve governors. Take a look at how banks would be impacted by the new regulation. (2 comments)

Turning point?

The International Energy Agency has forecast that demand for coal, natural gas, and oil will likely peak before 2030, because of the ongoing shift to renewable power and wider electric vehicle adoption. “We are witnessing the beginning of the end of the fossil fuel era, and we have to prepare ourselves for the next era,” declared Fatih Birol, IEA executive director. Reasons for the new developments include “renewables increasingly outmatching gas for producing electricity, the rise of heat pumps and Europe’s accelerated shift away from gas following Russia’s invasion of Ukraine.” Birol also noted China’s moves to encourage clean energy use, but called on governments to implement “stronger and faster” policies. (4 comments)

Today’s Economic Calendar
6:00 NFIB Small Business Optimism Index
1:00 PM Results of $35B, 10-Year Note Auction

What else is happening…

WSB survey results: It might not be the time to invest in IPOs.

Disney (DIS), Charter (CHTR) ink carriage deal to end blackout.

Qualcomm (QCOM) pops as Apple (AAPL) extends chip supply deal.

Cannabis stocks keep rallying amid positive news on regulatory front.

Experts fear auto workers’ strike could be worse than 2019 walkout.

RTX (RTX) declines on profit warning from jet-engine checks.

Lithium Americas’ volcano project may be biggest deposit ever found.

Tesla (TSLA) leads S&P 500 Index (SP500) as AI premium plays in.

Oracle (ORCL) misses on Q1 sales; cloud revenue slows sequentially.

FDA greenlights Moderna (MRNA), Pfizer (PFE) updated COVID shots.

G20 summit yields pledge to support tripling of renewables, little else.


Good morning. Happy Monday. Hope you had a good weekend.

The Asian/Pacific markets were mixed. China, India, Australia and Indonesia posted gains; Hong Kong, Taiwan, New Zealand and Thailand posted losses. Europe, Africa and the Middle East are mostly up. Germany, South Africa, Finland, Norway, Hungary, the Netherlands, Italy, Israel and Saudi Arabia are leading. Futures in the States point towards a moderate gap up open for the cash market.

————— BLOG: Random Musings about the Current Market —————

The dollar is down. Oil is down; copper is up. Gold and silver are up. Bonds are down.

Stories/News from Seeking Alpha…

IPO appetite

Investors this week will get to see how hungry the market is for new IPOs. Chip designer Arm Holdings (ARM) is set to price its offering on Wednesday, and begin trading on Thursday, in what is poised to become the biggest initial public offering for all of 2023. The mega deal will likely raise $4.7B at a $50.8B market cap, topping the $4.4B listing of Johnson & Johnson consumer health spinoff Kenvue (KVUE) in July, and marking the largest U.S. IPO since EV maker Rivian (RIVN) in November 2021.

Favorable investment? Arm’s IPO will mark the second time the company has gone public, with the firm’s first listing taking place in 1998, before SoftBank (OTCPK:SFTBY) bought it for $32B in 2016. Nvidia (NVDA), which has ridden the AI chip frenzy wave, also previously tried to buy Arm for $66B before getting the thumbs-down from regulators. Arm currently “estimates that approximately 70% of the world’s population uses Arm-based products” – including those used in smartphones, PCs, cars, servers, and networking equipment – and expects its market to grow by nearly 7% a year to reach around $247B by the end of 2025.

“We’re seeing some signs of life,” declared Nelson Griggs, President of Capital Access Platforms at Nasdaq. “For the first time in 18 months, we’re seeing significant institutional activity… We’re having a pickup in M&A, which gives a floor to valuations… and we are very active in pitching as companies test the waters.” For those looking for exposure to the broader IPO market, the Renaissance IPO ETF (IPO) has returned 36% this year, more than double the 16% gain of the S&P 500.

What to watch: If the Arm IPO does well, it could be the deal that breaks the recent IPO logjam, leading to a gradual pickup for the rest of the year and a normalized IPO market in 2024. However, it may have the opposite effect if it flops or is overvalued. Arm’s IPO will also be a barometer of the sentiment surrounding computer chips, big data and artificial intelligence, as well as investor opinions on risk factors like exposure to China and open-source architecture groups. Take the WSB survey.

All in on AI

As the artificial intelligence race intensifies, Meta Platforms (META) is reportedly developing a new AI model aimed to be as strong as OpenAI’s latest ChatGPT version called GPT-4. The new model will also be more powerful than Llama 2, with training for the open-source AI model – developed by Meta’s top-level AI product group – expected to start in early 2024. The news comes ahead of Congressional hearings this week on AI, as U.S. lawmakers seek to understand the technology. While Meta’s AI offerings have improved its monetization, SA analyst Juxtaposed Ideas warned that AI-related capex could reverse the company’s Year Of Efficiency. (1 comment)

Twinkie time

J.M. Smucker (SJM) is nearing a deal to buy Hostess Brands (TWNK) for around $4B that could be announced as soon as today. The company is said to have prevailed in a heated bidding competition with Cheerios parent General Mills (GIS), while Mondelez (MDLZ) and PepsiCo (PEP) had also expressed interest. Hostess shares have more than doubled over the past five years, far outpacing the S&P 500 and other big food companies. The Twinkies maker has had a bit of a checkered past though, twice filing for bankruptcy, before it was acquired for $410M by Apollo Global (APO) and C. Dean Metropoulos in 2014. Hostess returned to the stock market in 2016 through a SPAC deal. (6 comments)

Looking good

Treasury Secretary Janet Yellen is more confident of the U.S. economy achieving a soft landing, after recent data showed a steady cooling of inflation and an increase in jobseekers. “Every measure of inflation is on the road down,” Yellen said in an interview en route back from attending the G20 summit in New Delhi. Note that while the headline monthly inflation rate has been at ~2.5% in the past couple of months, other measures that strip out volatile food and energy prices remain elevated. Even so, economists are revising their calls for a U.S. recession, including Goldman Sachs. “With the Federal Reserve’s rate-hike cycle likely concluded and the disinflationary trend intact, a soft landing is looking more probable with each passing month,” added SA Investing Group Leader Lawrence Fuller. (4 comments)

Today’s Economic Calendar
1:00 PM Results of $44B, 3-Year Note Auction

What else is happening…

Alibaba (BABA) falls as outgoing CEO unexpectedly quits cloud unit.

Student loan payments are back. Starbucks, other chains beware.

Kenvue (KVUE) may gain after FDA comments in Tylenol lawsuit.

Nikola (NKLA) CEO in hot seat this week after electric truck fires.

Uber (UBER) to add handyman service in possible expansion.

Walmart (WMT) explores buying majority stake in ChenMed.

Tesla (TSLA) is a top pick at Morgan Stanley on Dojo upside.

Argentina plays a part in recent week’s financial gainers, losers.

Chevron seeks halt to Australia LNG strike with tribunal appeal.

This analyst sees Lilly – Novo duopoly in weight loss drug market.


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