Weekend Reading Summary
Macro Related:
- Israel launched preemptive strike against Hezbollah targets in southern Lebanon and Hezbollah fired rockets in response (EIS, USO, XLE). CNN
- Israel and Hezbollah signal willingness to avoid wider conflict. WSJ
- President Biden is expected to announce steep tariff increases on certain imports from China this week (FXI). Reuters
Stock Specific:
- Positive views on GM and IAC. Barron's
- Positive views on HON, JCI, ITW, EMR, CHRW, CAT, AOS. Barron's
- Positive and cautious view on how Harris administration could impact markets. Barron's
- Mixed views on robotaxi competition (TSLA, UBER, GM). Barron's
- Elliott considers bid for Citgo (USO, XLE). Bloomberg
- Seattle airport was impacted by cyberattacks (JETS, UAL, AAL, DAL, JBLU, SAVE, HA, LUV). Seattle News
- Apple (AAPL) considers moving into robotics industry (IRBT). Bloomberg
- A fire occurred at a Rivian (RIVN) plant parking lot. Reuters
- Lululemon (LULU) having success with less expensive versions of premium products. WSJ
- Nestle (NSRGY) aiming to keep its Health Science business. Reuters
- Johnson & Johnson (JNJ) in discussions with holdouts regarding talc settlement. Reuters
- Unilever (UN, UL) mulling sale of Kate Somerville brand. Sky News
- Telegram CEO Pavel Durov was detained by French authorities (META, SNAP). WSJ
- Edgar Bronfman wants to partner Paramount (PARA) with Amazon (AMZN) and Apple (AAPL). Bloomberg
- IBM (IBM) tells employees it's closing its China R&D division. WSJ
- Didi Global (DIDAY) in discussions to sell its smart driving and cockpit assets. Reuters
- Analysts expect strong cash flows in defense sector (LMT, NOC, GD, LHX). FT
- Former President Trump says he doesn't think Tesla (TSLA) CEO Elon Musk will have time to be in his cabinet. CNBC
- World Health Organization regulations are slowing release of Mpox vaccines (SIGA, GOVX, AEMD, INO, CMRX, TNXP, CODX, VRAX, BVNRY, BNTX). NY Times