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US stocks end up as Fed, CPI loom large next week
By Sruthi Shankar, Shristi Achar A and David Carnevali (Reuters) - U.S. stocks closed up on Tuesday, helped by some advances in economically sensitive sectors, as investors awaited inflation data and the Federal... More
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- SEC has the edge over Coinbase (COIN) in the 'critical' crypto legal fight - analyst
- Unity's (U) deal to provide 3D apps for Apple’s Vision Pro seen by Wall Street as long term positive
- Mizuho: SEC's complaint against Binance puts a third of Coinbase sales at risk
- Boeing reveals new 787 manufacturing defect, sees no immediate safety issue
- EPAM Systems downgraded at several films after a surprise guidance cut
- Stellantis (STLA) and LG consider Ottawa's enriched subsidy offer as factory construction remains halted
- EPA to scrap proposed EV volumes from biofuel blending rule
- Tesla (TSLA) Model 3 now more affordable than Toyota Camry in California
- Oil prices ease as economic fears overshadow Saudi output cut
- Investors pull $780 million out of Binance in the wake of SEC lawsuit - Nansen
- Global EV penetration reaches 14% in April with promising uptick in May
- Apple, Mobileye and Exxon Mobil fall premarket; Thor Industries rises
- Ford (F) names Whirlpool's (WHR) Liz Door as new supply chain chief
- Ford (F) expands recall for 125K vehicles due to fire risk and engine failure
- Tingo Group (TIO) shares plunge following Hindenburg short report
- Morgan Stanley reiterates Overweight on Tesla (TSLA) as Model 3 qualifies for full $7500 tax credit
- BofA says clients net sellers of US equities for first time in 3 weeks
- Atlantic prefers FedEx (FDX) to UPS due to 'diverging medium term outlooks'
- AMC Networks (AMCX) downgraded at Morgan Stanley as cord-cutting trends worsen
- Molson Coors the 'clear beneficiary' following Bud Light saga
- Adobe Systems (ADBE) 'sets up for another quarter of consistent execution' - Barclays
- Goldman says a 140% YTD rally in this AI stock is 'overdone'
- GitLab stock jumps 26% on strong Q1 beat & guidance; Analysts bulled-up
- Xponential Fitness (XPOF) sees 'zero turbulence' from current macroeconomic environment
- Citi continues to favor growth over value
- Mobileye slips after Intel announces plans to sell $1.5 billion stake
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12 Wall Street analysts discuss Apple Vision Pro as 'hefty' price pushes shares lower
Apple (NASDAQ: AAPL) shares trade nearly 3% lower in pre-market Tuesday after the Cupertino-based company launched its much-anticipated mixed reality (MR) headset, which comes at a higher-than-expected price of... More
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Crypto exchange Coinbase (COIN) sinks as SEC sues for breaking US Securities rules
Shares in cryptocurrency exchange Coinbase (NASDAQ: COIN) fell sharply in early Tuesday trading after the company was sued by the Securities and Exchange Commission (SEC) for an... More
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Bitcoin slides to near 3-month lows after SEC sues Binance
Investing.com -- Bitcoin prices fell sharply to near three-month lows on Monday after U.S. regulators sued crypto exchange Binance and its head Changpeng Zhao over allegedly violating several instances of securities... More
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SEC sues Binance, Apple unveils Vision Pro headset - what's moving markets
Investing.com -- The U.S. SEC sues digital coin exchange Binance as the regulatory scrutiny on the cryptocurrency industry increases. Meanwhile, Apple unveils a new mixed reality headset that is being heralded as... More
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Apple (AAPL) should buy Disney (DIS) to drive adoption of Vision Pro - analyst
Needham & Company analyst Laura Martin once again pitched the idea of Apple (NASDAQ: AAPL) taking over Walt Disney (NYSE: DIS).Yesterday, Apple unveiled... More
Tuesday, June 06, 2023 4:41 PM EDT
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Latest StreetInsider Headlines
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- 04:35 PM Channel Key LLC Acquires Agency Client Assets of Kaspien, Inc.
- 04:35 PM Xenon Pharmaceuticals to Present at the Goldman Sachs 44th Annual Global Healthcare Conference
- 04:34 PM The Inner Circle Acknowledges, Craig Myatt as a Distinguished Professional for his contributions to the Military and Higher Education Fields
- 04:34 PM Western Gold Exploration Provides Corporate Update
- 04:33 PM Alliance Entertainment (AENT) Files for Share Offering, Intends to Uplist to Nasdaq
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13Fs
- Buffett's Berkshire adds more Occidental Petroleum (OXY) shares
- Capital One (COF) gains as Buffett's Berkshire shows new stake
- Bill Ackman's Pershing Square accumulates massive $1.2 billion position in Google
Accesswire
- Texas Capital Bank Hosts Community Fair in West Dallas
- Grid Dynamics Reiterates Second Quarter 2023 Outlook
- Peter Arnell: The Visionary Force Behind the Iconic Fontainebleau Brand
Analyst Comments
- Rosenblatt Starts Super Micro Computer (SMCI) at Buy, 'TAM is expected to exceed $178 billion by 2027'
- Benchmark Starts Integral Ad Science Holding Corp (IAS) at Hold, 'PE Overhang Suggests Opportunities Ahead to Buy Shares Lower'
- EPAM Systems downgraded at several films after a surprise guidance cut
Analyst PT Change
- Molson Coors the 'clear beneficiary' following Bud Light saga
- Microsoft (MSFT) PT Raised to $370 at CFRA
- Adobe Systems (ADBE) 'sets up for another quarter of consistent execution' - Barclays
Board Changes
- Freshpet (FRPT) Provides Update on 2023 Annual Meeting of Stockholders
- Digimarc Corporation (DMRC) Appoints LaShonda Anderson-Williams to its Board
- ESSA Pharma Inc. (EPIX) Appoints Lauren Merendino to its Board
Business Wire
- FCPT Announces Acquisition of a Fresenius Medical Care Property for $2.6 Million
- Reata Pharmaceuticals Announces Participation in the Goldman Sachs 44th Annual Global Healthcare Conference
- Johnson & Johnson to Host Investor Conference Call on Second-Quarter Results
Commodities
- Saudi cut unlikely to raise oil prices into high $80s/low $90s - Citi
- Oil jumps on big OPEC show, then sputters to meek finish
- Crude oil soars; Saudi production cut boosts sentiment
Corporate News
- Grid Dynamics Holdings (GDYN) Reaffirms Q2 Guidance
- Alliance Entertainment (AENT) Files for Share Offering, Intends to Uplist to Nasdaq
- Boeing reveals new 787 manufacturing defect, sees no immediate safety issue
Cryptocurrency
- Bitcoin surges 5.56% to $27,171
- Bitcoin Tops $27,000
- BTCS Inc. (BTCS) Addresses Recent SEC Action Against Coinbase and Clarifies its Non-Custodial Staking Operations
Dividends
- The Buckle (BKE) Declares $0.35 Quarterly Dividend; 4.4% Yield
- Hooker Furniture (HOFT) Declares $0.22 Quarterly Dividend; 5.5% Yield
- Douglas Dynamics (PLOW) Declares $0.295 Quarterly Dividend; 4% Yield
Downgrades
- AMC Networks (AMCX) downgraded at Morgan Stanley as cord-cutting trends worsen
- Goldman Sachs Downgrades Formosa Plastics Corp (1301:TT) to Sell
- Goldman Sachs Downgrades Oil & Natural Gas Corp Ltd. (ONGC:IN) to Neutral
Earnings
- Couchbase, Inc. (BASE) Tops Q1 EPS by 5c; Offers Guidance
- Dave & Buster's Entertainment (PLAY) Tops Q1 EPS by 18c
- Limoneira (LMNR) Tops Q2 EPS by 2c
Economic Data
- Durable Goods (Apr F) 1.1% vs 1.1% Prior, Ex-Trans -0.3% vs -0.2%
- ISM Services (May) 50.3 vs 52.4 Expected
- Factory Orders (Apr) 0.4% vs 0.8% Expected
Equity Offerings
- Alliance Entertainment (AENT) Files for Share Offering, Intends to Uplist to Nasdaq
- Socket Mobile (SCKT) Announces 1.19M Share Offering by Selling Stockholders
- Amcor plc (AMCR) Files Mixed Shelf
FDA
- Legend Biotech (LEGN) Announces Submission of Supplemental Application to the U.S. FDA for Expanded Use of CARVYKTI
- LianBio (LIAN) Reports Topline Results from Phase 2a Proof of Concept Trial Evaluating Infigratinib
- TransCode Therapeutics (RNAZ) Reports Positive Preclinical Results with TTX-MC138
Fed
- Persistently strong core inflation and a surprisingly resilient labor market will have the Fed hiking further - Citi
- Fed to skip hike in June, hop into long pause before jump to cuts: Morgan Stanley
- Fed Chair Powell to testify at US Senate June 22
Globe Newswire
- Xenon Pharmaceuticals to Present at the Goldman Sachs 44th Annual Global Healthcare Conference
- Interpublic Prices Offering of $300 Million Aggregate Principal Amount of Senior Notes
- Pasithea Therapeutics Confirms Receipt of Unsolicited Proposal from Lucy Scientific Discovery Inc.
Guidance
- Couchbase, Inc. (BASE) Tops Q1 EPS by 5c; Offers Guidance
- Grid Dynamics Holdings (GDYN) Reaffirms Q2 Guidance
- Yext, Inc. (YEXT) Tops Q1 EPS by 4c, Offers Guidance
Hedge Funds
- Univar (UNVR) Stockholders Approve Acquisition by Apollo Funds
- Sequoia Capital's China business to become separate entity
- Freshpet (FRPT) Provides Update on 2023 Annual Meeting of Stockholders
Insiders' Blog
- 7 Things to Know About Allbirds' (BIRD) Upcoming $2 Billion IPO
- HireRight (HRT) IPO: 9 Things to Know About the Upcoming Offering
- Udemy (UDMY) IPO: 7 Things to Know About Upcoming $4 Billion IPO
IPOs
- Alliance Entertainment (AENT) Files for Share Offering, Intends to Uplist to Nasdaq
- FAT Brands (FAT) to Take Twin Peaks Public
- Cava Group goes ahead with IPO plans
Market Check
- Bitcoin Tops $27,000
- S&P 500 struggles for direction as regional banks rebound, but health care weighs
- U.S. stocks head lower as investors weigh chances of Fed rate hike
Mergers and Acquisitions
- Pasithea Therapeutics (KTTA) Confirms Receipt of Unsolicited Proposal from Lucy Scientific Discovery (LSDI)
- Univar (UNVR) Stockholders Approve Acquisition by Apollo Funds
- Apple buys AR headset startup Mira - The Verge
New Coverage
- Rosenblatt Starts Super Micro Computer (SMCI) at Buy, 'TAM is expected to exceed $178 billion by 2027'
- Rosenblatt Starts Super Micro Computer (SMCI) at Buy, 'TAM is expected to exceed $178 billion by 2027'
- Benchmark Starts Integral Ad Science Holding Corp (IAS) at Hold, 'PE Overhang Suggests Opportunities Ahead to Buy Shares Lower'
Newsfile
- Western Gold Exploration Provides Corporate Update
- Kiora Pharmaceuticals Announces Closing of $6.3 Million Underwritten Public Offering and Full Exercise of Over-Allotment Option
- Telo Genomics Announces Private Placement Increased to $2,766,375 from Previously Announced Private Placement of $2,000,000
Press Releases
- Texas Capital Bank Hosts Community Fair in West Dallas
- SaverOne Expands Relationship with Isuzu Importer to Israel: Additional 40 Installations of Driver Distraction Prevention Solution Ordered for Isuzu Trucks
- FCPT Announces Acquisition of a Fresenius Medical Care Property for $2.6 Million
Private Company News
- Subway Sale Process Goes To Second Round - WSJ
- Musk cut 80% of Twitter's staff, has no one in mind to replace him as CEO
- AI chatbot Character.AI, with no revenue, raises $150 million led by Andreessen Horowitz
PRNewswire
- SaverOne Expands Relationship with Isuzu Importer to Israel: Additional 40 Installations of Driver Distraction Prevention Solution Ordered for Isuzu Trucks
- ACC Honors Companies for Efforts to Advance Sustainability with its 2023 Sustainability Leadership Awards
- Channel Key LLC Acquires Agency Client Assets of Kaspien, Inc.
Reuters
- EU's Breton cites telcos' investment gap for Big Tech network fee push
- Bitcoin surges 5.56% to $27,171
- Alternative asset specialist Beneficient set to complete $3.3 billion SPAC merger
SEC Filings
- Form 144 FLEX LTD. Filed by: OFFER DAVID SCOTT
- Form 4 DANA INC For: Jun 02 Filed by: ICAHN BRETT
- Form 4 DANA INC For: Jun 02 Filed by: Hu Gaoxiang
