>>> Weekend Reading Summary

Weekend Reading Summary
Macro Related:
  • The U.S., Iran, and mediators are discussing terms of a 45-day ceasefire agreement, which could lead to the end of the war, but sources say chances of reaching a deal are "slim." (USO, SPY, XLE). Axios
  • President Trump, in an interview, says there is a "good chance" a deal with Iran could be reached by tomorrow, but if no deal is reached, the U.S. "will blow up everything" in Iran (see 6:01). Axios
  • Iran shot down a U.S. fighter jet and attacked oil and gas infrastructure in Gulf states. Bloomberg
  • Iraq oil tankers can now cross through the Strait of Hormuz because of an Iranian exemption. Bloomberg
  • The two crew members from the shot down a F-15 fighter jet were rescued. Axios
  • Judge rejects DOJ bid to reinstate subpoenas in Fed case. Axios
  • President Trump is considering removing Commerce Secretary Howard Lutnick and Labor Secretary Lori Chavez-DeRemer. Politico
Stock Specific:
  • Cautious views on SPHR, CZR, WYNN, MGM. Barron's
  • Positive view on Lennar (LEN). Barron's
  • Class 5-8 truck orders increased 126% yr/yr in March (IYT, JBHT, WERN, PCAR, CMI). Act Research
  • Paramount Skydance (PSKY) President Jeff Shell is in negotiations to exit the company. Status
  • Oil companies are showing interest in deepwater field stake (TTE, SHEL). Reuters
  • House Speaker Mike Johnson will not hold vote on DHS funding until Senate makes progress on funding immigration enforcement through reconciliation, which could take two weeks (UAL, AAL, DAL, LUV, JBLU, ULCC). Axios
  • Blackstone (BX) aiming to purchase a stake in Rowan Digital Infrastructure. The Information
  • Five EU nations want windfall energy tax on energy companies (BP, SHEL). Reuters
  • The Iran war is helping chemical makers (DOW, LYB). WSJ
  • Striking JBS (JBS) workers returned to work and will resume talks in Colorado. Reuters
  • Pepsi (PEP) and Diageo (DEO) dropped sponsorships of the Wireless Festival. WSJ
  • Paramount (PSKY) in discussions to get equity commitments from Saudi wealth funds for the Warner Brothers (WBD) deal. WSJ
  • Super Mario Galaxy Movie earned $372.5 mln worldwide (NTDOY, CMCSA). Hollywood Reporter
  • SMFG (SMFG) and Nippon Life are in discussions to set up a private credit fund. Bloomberg