💼 Intel jumps, Boeing freezes

PLUS: Larry Ellison dethrones Jeff Bezos -your pre-market briefing inside...                                                                                                                                                                                                                                                                                                                                                                                                                 September 17, 2024 | [Listen Online]( | [Read Online]( In partnership with Good morning. The Fast Five → [Intel shares jump]( on chip deal with Amazon and Biden [awarding]( Intel up to $3 billion, [Boeing freezes hiring]( in sweeping cost cuts during strike, [Sam Altman departs]( OpenAI’s safety committee, and [Larry Ellison dethrones]( Jeff Bezos as world’s second-richest man… 🚨 Dylan Jovine's Urgent Briefing: [4 Cracks in the US Economy »]( * A message from Dylan Jovine Calendar: (all times ET) - Full calendar [here]( - Today: US retail sales, 8:30 am Business inventories, 10:00 am - Tomorrow: FOMC interest-rate decision, 2:00 pm Fed Chair Powell press conference, 2:30 pm Your 5-minute briefing for Tuesday, September 17: BEFORE THE OPEN As of market close 9/16/2024. Pre-Market: US Investor % Bullish Sentiment: ↓ 39.80% for Week of September 12 2024 Last week: 45.33%. Updates every Friday. Market Wrap: - Stock futures flat ahead of retail sales data and Fed meeting. - Intel shares up 8% on foundry plans, $3B CHIPS Act funding. - Dow hit record high, S&P up, Nasdaq down as Apple, chips fell. - August retail sales key for Fed rate cut; expect 0.2% decline. - 67% chance of a 50 basis point Fed cut; market split on cut size. EARNINGS Here’s what we’re watching this week: - Wednesday: - [General Mills (GIS)]( - earnings of $1.05 per share (-3.7% YoY) on $4.8B revenue (-2% YoY) - Thursday: Cracker Barrel ([CBRL](), Darden Restaurants ([DRI]() - [FedEx (FDX)]( - earnings of $4.85 per share (+6.6% YoY) on $22B revenue (+3.8% YoY) - [Lennar (LEN)]( - earnings of $3.63 per share (-6.2% YoY) on $9.2B revenue (+8.4% YoY) Full earnings calendar [here](. HEADLINES [Intel Shares Jump on Chip Deal with Amazon]( The announcement came after Intel said yesterday it would receive up to $3 billion in funding under the CHIPS and Science Act to manufacture chips for the military. [Boeing Freezes Hiring in Sweeping Cost Cuts as Strike Enters Fifth Day]( More than 33,000 Boeing workers went on strike last week after rejecting a tentative contract the company had negotiated with their unions. - Biden administration awards Intel up to $3 billion under the CHIPS Act ([more]() - Dollar pinned down by 50 bp Fed cut bets ([more]() - Investors turned more bearish on oil last week than ever ([more]() - Yen's big week begins ([more]() - Strike could cost Boeing $100M -plus in daily revenue ([more]() - Sam Altman departs OpenAI’s safety committee ([more]() - Citigroup strips COO of responsibility after $136 Million fine ([more]() - Microsoft approves new $60B share buyback program ([more]() - Apple releases iOS 18, but it doesn’t include Apple Intelligence ([more]() - Starbucks No. America head retires after five months in the role ([more]() - Larry Ellison becomes world’s second-richest man, dethroning Jeff Bezos as Oracle stock surges ([more]() - 23andMe settles class-action breach lawsuit for $30M ([more]() Together with 1440 The Daily Newsletter for Intellectually Curious Readers - We scour 100+ sources daily - Read by CEOs, scientists, business owners and more - 3.5 million subscribers [Sign up today!]( DEALFLOW M+A | Investments - Vista, Blackstone nearing $8-billion deal to buy Smartsheet ([more]() - Kohlberg & Company, a NYC PE firm specializing in middle market investing, closed on $4.3B for Kohlberg Investors X ([more]() - CACI to acquire Azure Summit Technology, for $1.275B ([more]() - Citigroup sells trust services unit to JTC for $80M ([more]() - CapitaLand in talks to acquire stake in Fosun’s Club Med ([more]() - Central Pacific nears deal for Hawaiian Electric’s Bank ([more]() - The Hackett Group (HCKT), a Gen AI strategic consultancy advisory firm, acquired LeewayHertz, provider of advanced Gen AI solutions ([more]() - Canto, digital asset management software, acquired Image Relay, SaaS solutions that unite digital asset and product information management ([more]() - Datassential, a food and beverage intelligence platform, received an investment of undisclosed amount ([more]() - Saber Interactive, an interactive entertainment and video game development company, raised an investment from Aleph Capital Partners and Crestview Partners ([more]() - Shenandoah, a provider of underground infrastructure services, received an investment from Genx360 Capital Partners ([more]() VC - VFN Holdings, a fiber infrastructure operator and broadband internet provider, raised $80M in Equity funding ([more]() - ONL Therapeutics closes $65M Series D financing ([more]() - Wealth.com, an end-to-end estate planning platform, raised $30M in Series A funding ([more]() - Slingshot Aerospace receives $30M in growth capital from Trinity Capital ([more]() - TeamBridge, a Workforce OS company empowering hourly workforces, raised $28M in Series B funding ([more]() - Ledgebrook, an InsurTech company, raised $17M in Series B funding ([more]() - Supermaven, an AI-powered code completion tool provider, raised $12M in Series A funding ([more]() - c/side, a cybersecurity company securing vulnerable browser-side third-party scripts, raised $6M in Seed funding ([more]() - Two Boxes, a proven logistics solution provider, raised $5.3M in funding ([more]() CRYPTO - Bitcoin slips to $58K as Fed faces split rate cut expectations ([more]() - Crypto spending on 2024 election hits $190M, led by Winklevoss twins ([more]() - New details of Trump family crypto project released, including who can buy in ([more]() BULLISH BITES 🚨 Ignore the Media: [Jovine predicts imminent market crash]( * ⚖️ Messy: Murdoch [succession drama]( plays out in closed court in Reno. 🤑 Take Rate: How Google [got away with]( charging publishers more than anyone else. 🎟 Supply-Demand: Oasis, Ticketmaster and the price of economic ignorance. 👮🏻‍♂️ Forget Butlers: Private security is now [the ultimate]( service for the ultra-wealthy. DAILY SHARE [tw profile: sophie] sophie @netcapgirl [tw] “the market will regulate itself” the market: 9:49 PM • Sep 16, 2024 522 Likes 21 Retweets 26 Replies [tw profile: Dr. Parik Patel, BA, CFA, ACCA Esq.] Dr. Parik Patel, BA, CFA, ACCA Esq. @ParikPatelCFA [tw] Isaac Newton was 23 years old when he invented calculus and discovered gravity You are 46 years old and stare at charts of dog themed cryptocurrencies all day 3:11 PM • Sep 16, 2024 1.18K Likes 62 Retweets 86 Replies What did you think about today's briefing? - [⭐️⭐️⭐️⭐️⭐️ Excellent, keep it comin'!]( - [⭐️⭐️⭐️⭐️ Good stuff]( - [⭐️⭐️⭐️ It was alright]( - [⭐️ Needs work]( Have a comment or suggestion? 💌 [Send us a message](mailto:feedback@marketbriefing.com) [ADVERTISE]( | [SUBSCRIBE]( *from our sponsor Disclaimer: Market Briefing© is a news publisher. All statements and expressions herein are the sole opinions of the authors or paid advertisers. 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