📈 SEC X-files

☕️ Good morning.

The Fast Five → Global economy set for its worst half decade of growth in 30 years, SEC X account compromised falsely saying Bitcoin ETFs approved, Boeing’s CEO admits ‘our mistake’ after incidents, Morgan Stanley displaces Citigroup as least-loved bank stock, and BlackRock cuts 3% of workforce — just one of many companies…

Your 5-minute briefing for Wednesday:

BEFORE THE OPEN

PRE-MARKET

MARKETS

• US stocks mostly closed down, but the indices were supported be a positive day from tech

• The Dow led indices with a 0.42% decline, while the Nasdaq rose 0.09%

• Asian stocks mostly rose, with Japan’s Nikkei rising 1.16% to a 33-year high thanks to positive Japanese inflation data

EARNINGS

• What we're watching this week:

  • Thursday: Infosys

  • Friday: JPMorgan Chase, Bank of America, Citigroup, Wells Fargo, United Health, BlackRock, Delta Air Lines

• Full calendar here

NEWS BRIEFING

DAVOS 2024: Global Economy Set for Its Worst Half Decade of Growth in 30 Years, World Bank Says

BlackRock Cuts 3% of Global Workforce, Citing Dramatic Industry Shifts

• Boeing latest:

  • Door bolts in focus after airlines find loose parts (link)

  • CEO admits ‘our mistake’ after 737 Max door blowout (link)

  • New US FAA administrator to testify before Congress amid Boeing scrutiny (link)

  • Also — Boeing hits 2023 jet delivery goal in blockbuster sales year (link)

• Morgan Stanley displaces Citigroup as least-loved big bank stock (link)

• SEC X account compromised to falsely say Bitcoin ETFs approved (link)

• Finra calls AI 'Emerging risk’ in annual regulatory report (link)

• Australia’s top underwriting UBC looks beyond IPOs after 2023 low (link)

• Grifols denies Gotham claims as short seller triggers 26% rout (link)

• Honda teases new EVs with futuristic ‘Space-Hub’ and ‘Saloon’ concept cars (link)

• Trump’s presidential immunity appeal meets judges’ skepticism (link)

• Swiss pharma giants plot different paths for next blockbuster drugs (link)

• Bill Ackman backs bid by dissidents for Harvard board seats (link)

• Intel challenges Nvidia, Qualcomm with ‘AI PC’ chips for cars (link)

• Apple veteran Saori Casey leaving to become Sonos finance chief (link)

• Article on Ackman’s wife triggers tensions between Business Insider and owner (link)

• Match Group names new Tinder CEO after reports of activist stake (link)

• Boeing to revise 737 MAX 9 inspection instructions as planes remain grounded (link)

CRYPTO

• Bitcoin derivative traders bet billions on Bitcoin’s ETF future (link)

• The SEC’s official X account was compromised, leading to a false tweet stating that the SEC had approved spot-Bitcoin ETFs (link)

• Investment manager Valkyrie is 95% sure Bitcoin ETFs will begin trading on Thursday (link)

You Can Sponsor this Newsletter details here.​

BULLISH BITES

🥊 Outspoken: Bill Ackman’s latest fight turns personal, again.

😘 Refresh: Miller Lite takes beer breath to a new minty level.

🤖 FOMO: So you want to build a startup off OpenAI? Start here.

💃 Super-droid: AI threatens to push human fashion models right out of the picture.

FEATURED TRADES

$ACR: Trading at massive discount to $25 book value

Acres Commercial Realty Corp is a commercial real estate bridge lender focusing on lending to multi-family properties as well as a mix of office, hotel, and retail. It is associated with Oaktree, a distressed specialist, and is known for operating without paying dividends, allowing flexibility for credit management or share repurchases.

Ticker: ACR | Price: $9.70 | Price Target: $25 (+158%) | Timeframe: N/A

🏠 Real Estate | 🏦 Lender | 📈 Bullish Idea

Read the full article here. Read time: 1 min

DAILY SHARES

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