● 기업 단신
Oak Street Health – Shares of Oak Street Health surged 36% after a Bloomberg report that CVS is exploring options to buy the health care company for more than $10 billion. CVS stock ticked down about 0.5% on the news.
Frontline –The shipping stock surged more than 24% in premarket trading after Frontline announced that it was terminating its combination with Euronav. Frontline CEO Lars Barstad said that both companies “are already enjoying economies of scale.”
CureVac – CureVac shares jumped 19% after the company said it plans further patient trials of its mRNA vaccines for Covid-19 and the flu. The company also announced that Sanofi veteran Alexander Zehnder will become CEO in April.
Boeing — The aerospace giant fell more than 2% after Morgan Stanley downgraded Boeing to equal weight from overweight, citing a lack of potential upside from current levels. “We see a balanced risk reward as the majority of the near- and medium-term positive catalysts for the stock have been realized,” Morgan Stanley said in a note.
Norwegian Cruise Line – Shares dropped 3.3% after a downgrade to underweight from equal weight by Morgan Stanley, which cited concerns over how overcapacity could hurt pricing power. Meanwhile, the firm upgraded competitor Royal Carribean, which added 0.3% in the premarket, to equal weight from underweight.
Coinbase – Coinbase shares last traded flat after rising slightly premarket on news that it plans to cut 20% of its workforce. The move marks the second major round of cuts as the company looks to trim costs after hitting expansion mode during the bull market.
Sotera Health – Shares soared more than 58% in the premarket after the company announced its subsidiaries came to agreements to settle more than 870 cases relating to the exposure of ethylene oxide, a carcinogen, from its Willowbrook facilities. Sotera agreed to pay $408 million and said the settlement is not an admission that the emissions posed a safety hazard.
Bumble — Bumble popped more than 2% after KeyBanc upgraded the dating app stock to overweight from sector weight, noting: “The competitive environment appears stable, and economic pressures are easing.”
Virgin Orbit — The company’s stock tumbled 19% after Virgin Orbit’s satellites launched from British soil fell short of their target orbit. “While we are very proud of the many things that we successfully achieved as part of this mission, we are mindful that we failed to provide our customers with the launch service they deserve,” CEO Dan Hart said.
● NFIB Small Business Optimism Index
● 장전 상황
Stock were little changed Tuesday as concern over higher rates lingered among traders.
The Dow Jones Industrial Average added 3 points, or near the flatline. The S&P 500 and Nasdaq Composite also both traded near flat.
Atlanta Fed President Raphael Bostic said Monday that interest rates should rise above 5% and stay there for a “long time.” Meanwhile, San Francisco Fed President Mary Daly said the central bank should continue raising rates, albeit at a slower pace. Treasury yields rose slightly on Tuesday.
Fed Chair Jerome Powell spoke Tuesday before the bell to the need for the central bank to stay politically independent while responding to inflation. Futures were little changed in response to his remarks.
Investors came into the new year worried that higher Fed rates could tip the economy into a recession.
● Powell stresses need for Fed’s political independence while tackling inflation
Fed Chairman Jerome Powell on Tuesday noted that stabilizing prices requires making tough decisions that can be unpopular politically.
In other remarks, the central bank leader said the Fed is “not, and will not be, a ‘climate policymaker.’”
The speech did not contain any direct clues about where policy is ahead for a Fed that raised interest rates seven times in 2022, for a total of 4.25 percentage points, and has indicated that more increases likely are on the way this year.
While criticism of Fed actions by elected leaders is often done in quieter tones, the Powell Fed has faced vocal opposition from both sides of the political aisle.
● Goldman laying off 3,200
Goldman Sachs is set to lay off up to 3,200 employees this week, a warning sign that Wall Street is preparing for leaner times this year. There’s a slight silver lining, though: Those 3,200 jobs represent about 6.5% of the big bank’s workforce, while Goldman was expected to cut up to 8% of its employees. Still, that doesn’t mean Goldman and Wall Street in general are done with layoffs. Banking executives want to see what happens in the first quarter, particularly whether the economy enters a recession. So more cuts could be on the way in February or March.
● The US Supreme Court allowed Meta to pursue a spyware lawsuit. The tech giant accused Israeli firm NSO Group of exploiting a bug in WhatsApp to install its Pegasus surveillance software.
● Virgin Orbit’s first UK rocket launch has failed. An anomaly prevented the rocket, the first to be launched from the UK, from reaching orbit.
● An AI is defending its first client in court. Chatbot DoNotPay will help argue a case against a speeding ticket.
* 필자의 생각: 법률서비스의 하향평준화가 오는 그날까!
