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📈 PE Crisis
Bitcoin surges past $50K for the first time in two years, private equity returns plunge to global financial crisis levels, JetBlue stock jumps after Carl Icahn reports 10% stake,Temu spent millions on six Super Bowl ads trying to win back shoppers, and Uber/Lyft/Doordash drivers to strike on Valentine’s Day for fair pay...
Good morning.
The Fast Five → Bitcoin surges past $50K for the first time in two years, private equity returns plunge to global financial crisis levels, JetBlue stock jumps after Carl Icahn reports 10% stake, Temu spends millions on six Super Bowl ads trying to win back shoppers, and Uber/Lyft/Doordash drivers to strike on Valentine’s Day for fair pay…
Calendar:
Today: Consumer Price Index (CPI), 8:30a ET
Friday, 2/16: Producer Price Index (PPI), 8:30a ET
Your 5-minute briefing for Tuesday, February 13:
BEFORE THE OPEN
As of market close 2/12/2024.
PRE-MARKET
 |  |
MARKETS
US stocks closed mixed, with the Dow hitting a new high, as investors awaited fresh CPI data and digested corporate earnings
The Dow rose 0.33%, while the Nasdaq fell 0.3%
European stocks rose ahead of Tuesday’s US inflation data
Bitcoin prices reached $50,000 for the first time since 2021 thanks to ETF demand
Bitcoin is poised for its seventh straight daily gain, its longest streak since January 2023
EARNINGS
What we're watching this week:
Today: Airbnb, Shopify, Coca-Cola, Datadog
Wednesday: Sony, Cisco Systems, Kraft Heinz
Thursday: Coinbase, DraftKings, John Deere, Applied Materials
Friday: Cinemark
Full calendar here
NEWS BRIEFING
Distributions as percent of net asset value fall to 11.2%. Tough M&A, IPO markets impede PE exits, weighing on returns.
US CPI data to show disinflation handoff from goods and services (link)
JetBlue stock jumps after Carl Icahn reports 9.91% stake (link)
Temu spent millions on six Super Bowl ads as it tries to win back US shoppers (link)
Uber, Lyft, DoorDash drivers to strike on Valentine's Day for fair pay (link)
Nvidia overtakes Amazon in market value (link)
X hopes to lure creators, take on YouTube with new ad targeting (link)
Great inflation hedge unwind sees TIPS ETFs lose $43B (link)
Microsoft’s AI growth is helping its cloud business weaken Amazon’s lead (link)
Raising trillions of dollars might be the easy part of Altman’s chip plan (link)
Bolt, once worth $11B, slashes share price 97% in buyback (link)
Arm holdings extends blistering rally in wake of earnings (link)
US shale production growth seen sputtering after last year’s boom (link)
Spirit Airlines uncertainty has some pilots dusting off their resumes (link)
Cash-flush buyers dip into distressed commercial real estate (link)
Jeff Bezos will save over $600M in taxes by moving to Miami (link)
AI is starting to threaten white-collar jobs, few industries are immune (link)
CRYPTO
BULLISH BITES
🏈 Super Bowl ads recap: DoorDash, DunKings, Beyoncé and the most-talked about commercials.
👍 Approved: A new dating app for people with good to excellent credit.
🧸 Pillow fight: Warren Buffett's Squishmallows sues Build-A-Bear over 'knockoff' toy line.
🏰 Mega-listing: The most expensive home for sale in the US goes up for $295 million in Naples, Florida.
DAILY SHARES
This is how the personal trainer at Equinox be spotting your girl while you grind on excel spreadsheets, resize logos on powerpoint, and order dinner to the office every night
— litquidity (@litcapital)
8:30 PM • Feb 12, 2024
Keep the curation going! Buy the team a coffee ☕️