- Exec Sum
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- Page 29
Archive
Microsoft's Gaming Cuts
The US GDP grew by 3.3% last quarter, Jamie Dimon is shaking up JPM’s leadership team, Tesla erased $80B in market cap after Musk’s sales warning, Microsoft cut 1,900 jobs in gaming, China may have more stimulus coming, and Aramco is searching for deals in Asia.
SPACs Under Scrutiny
The SEC is cracking down on SPAC sponsors, the S&P hit another record-high close, Tesla is projecting slower growth in 2024, Bank of Canada is expected to hold rates steady, the FAA halted Boeing 737 Max production expansion, HPE was hacked by the same Russian group who hacked Microsoft, and Chipotle wants to bring in new workers for burrito season.
Netflix's Big Wrestling Bet
Magnificent Seven stocks are hot again, Apple dialed back its driverless car ambitions, Netflix acquired WWE’s rights, Trump beat Haley in New Hampshire, Chinese property developers are resorting to bizarre marketing tactics, and airlines are souring on Boeing.
Dow 38,000
The Dow hit 38,000, China is weighing a massive stock market rescue package, the EU is upgrading its economic security, US debt hit a record high, Facebook has made a major change after years of PR disasters, humans are still cheaper than AI for most jobs, and Canada is capping international student permits.
Meta Nears $1 Trillion
Risky companies have access to cheap debt, Meta’s stock price hit an all-time high, Terraform Labs filed for bankruptcy protection, Europe is navigating a post-energy crisis world, ocean shipping rates are surging, and Ron DeSantis ended his 2024 presidential campaign.
Zuck Loves Nvidia
Zuck is spending billions on Nvidia AI chips, Tesla will showcase its Cybertruck on its China tour, Macy’s is cutting jobs, Google is investing heavily in a new UK data center, drugmakers are raising prices on Ozempic and similar drugs, and India is puting its best foot forward at Davos.
Harvard's Apology Tour
Spirit is in a tough spot after the failed JetBlue buyout, Sheryl Sandberg left Meta’s board, Apple is banned from selling watches in the US with a blood oxygen sensor, election-year messaging will drive consumer trends, CNN’s newest boss is shaking up their news operations, and Harvard is trying to smooth over relations with Silicon Valley.
RIP Drizly
Japan’s market has been doing well, Uber is closing Drizly, China’s population dropped for a second year, the bill for a record amount of commercial real estate debt is coming due, emerging markets are off to their worst start since 2016, and JPMorgan has to pay an $18M fine for whistleblower protection violations.
Hertz's Tesla Deal Was a Dud
Google is cutting 100s of engineering jobs, large PE backers want their money back, Hertz is selling 1/3 of its EV fleet, JPM saw a record $30B of private debt change hands, Pixar is cutting jobs, inflation numbers came in hot in December, and Airbus jet order demand soared after Boeing’s latest incident.
The EU Is Probing Microsoft
Analysts aren’t bullish about Morgan Stanley and Citi’s stock, Finra calls AI an ‘emerging risk,’ Australia’s UBC is looking beyond IPOs after a slow 2023, Ackman is backing a bid by dissidents for Harvard board seats, Apple’s Saori Casey was named Sonos’ finance chief, and the EU is launching a competition probe into Microsoft’s OpenAI investment.