📈 SBF: Guilty

☕️ Good Morning.

The Fast Five → Sam Bankman-Fried found guilty on all counts, Goldman promoted 608 to MD, Apple warned of a sluggish holiday quarter, FTC: Amazon made $1 billion via secret price raising algo and Wall Street titans fueled an Ivy League donor revolt.…

Here’s your 5-minute briefing for Friday:

BEFORE THE OPEN

MARKETS:

• Nasdaq 100 futures slip after Apple's quarterly results.

• Apple shares fall 3% due to weak revenue outlook.

• Square stock rises 13% on earnings beat and guidance raise.

• Thursday's regular session sees a broad stock rally.

• October jobs report's outcome could impact market momentum.

• Dow on pace for its best weekly performance since October 2022.

• Upcoming earnings reports include Church & Dwight, Dominion Energy, and Cardinal Health.

EARNINGS

• Full earnings calendar here

NEWS BRIEFING

GUILTY OF ALL CHARGES

FTC: Amazon Made $1 Billion Through Secret Price Raising Algorithm

• Goldman Sachs to promote 608 to managing director, down from 2021 (Read More)

• Apple warns of sluggish holiday quarter after China slowdown (Read More)

• CEO of the National Association of Realtors steps down early after commissions verdict (Read More)

• Amazon boosted junk ads, deleted messages to thwart antitrust probe, FTC says (Read More)

• Venture capital cools on supply-chain tech startups (Read More)

• Amazon founder Jeff Bezos is moving to Miami (Read More)

• Stellantis to give big raises, invest billions in UAW deal (Read More)

• Wall Street titans help to fuel Ivy League donor revolt (Read More)

• Amazon is closing style apparel stores as grocery push ramps up (Read More)

• Media stocks pop as Roku rally lifts the sector (Read More)

DEALFLOW

M&A / Investments

• The finance committee of Canada's House of Commons lower chamber asked Ottawa to reject Royal Bank of Canada's $9.8B acquisition of HSBC's domestic unit due to lack of competition in the financial sector (Read More)

• Theme park operators Cedar Fair and Six Flags Entertainment agreed to merge to create a combined company worth $8B, including debt (Read More)

• Siemens Healthineers is weighing options for its in-vitro diagnostics operations, which could fetch up to $8B in a sale (Read More)

• EQT resumed talks to acquire Global Switch Holdings in a deal that could value the data center company at ~$6.5B (Read More)

• Lloyds Banking Group rebuffed the latest $1.2B offer from Barclay family to reclaim British newspaper group, the Telegraph (Read More)

• TPG-backed hospital operator Columbia Asia and a consortium led by Affinity Partners emerged as the two shortlisted bidders for buying $1B Asia-focused private hospital group Ramsay Sime Darby Health Care (Read More)

• Manufacturer Fox Factory Holding will acquire American sports manufacturer Marucci Sports at a $572M EV (Read More)

• Zurich Insurance Group will purchase a 51% stake in Kotak Mahindra Bank's general insurance arm for ~$487M (Read More)

• Clean energy solutions company TransAlta will acquire power generator Heartland Generation from Energy Capital Partners in a $475M deal (Read More)

• Information management company Iron Mountain will acquire IT asset disposition service provider Regency Technologies for $200M (Read More)

CRYPTO

• Sam Bankman-Fried found guilty on all seven charges against him (Read More)

• PayPal received a subpoena from the SEC requesting documentation about its USD stablecoin (Read More)

BULLISH BITES

🦄 10 years since the term ‘unicorn’ was coined, we’ve almost come full circle

🐎 'The Hermès Game': how the luxury house is defying the slowdown

🚫 'Doritos Silent', or "the world's first AI-augmented snack," brings crunch cancellation technology to gamers

😩 HBO made employees create fake social media accounts to Hhrass TV critics? Absolutely insane

DAILY SHARES