Apple Engineers Got PAID

The S&P 500 did not break all-time high number 69. Can we finish the year without hitting 70? We hope so. The CDC cut the covid isolation period from 10 to 5 days. The Nasdaq is on pace to underperform the S&P 500 for the first time in six years. Apple is offering $180k bonuses to keep Meta from poaching its engineers (so y'all should probably ask for a raise too). We lost a coaching, broadcasting, and video game legend with the passing of John Madden yesterday.

By Litquidity Capital Dec 29, 2021

Together with

Good morning,

The S&P 500 did not break all-time high number 69. Can we finish the year without hitting 70? We hope so. The CDC cut the covid isolation period from 10 to 5 days. The Nasdaq is on pace to underperform the S&P 500 for the first time in six years. Apple is offering $180k bonuses to keep Meta from poaching its engineers (so y'all should probably ask for a raise too). We lost a coaching, broadcasting, and video game legend with the passing of John Madden yesterday.

Last hump day of the year, let's finish the week out strong 🤝

Before The Bell

As of 12/28/2021 market close.

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Markets

  • US equity markets showed mixed signals yesterday with the S&P retreating from its intraday high while the Dow closed in the green for the fifth straight session
  • Omicron continues to dominate headlines as investors digest news about continued spread and new data being released, meanwhile the CDC cut its recommended isolation time in half earlier this week
  • Most of Monday’s moves were reversed yesterday, as travel stocks and airlines rebounded while Covid drug makers and chip stocks closed in the red

Earnings

  • What we’re watching today: FuelCell Energy
  • Full calendar here

Headline Roundup

  • Former Democratic Senate majority Leader Harry Reid dies at 82 (BBG)
  • Biden considering former Fed governor and Treasury official Sarah Bloom Raskin for Fed board seat (WSJ)
  • South African study finds omicron infection protects against delta and could displace it (CNBC)
  • Nasdaq poised to underperform S&P for first time since 2016 (CNBC)
  • Omicron has lower US hospitalization rate than prior Covid waves (BBG)
  • Apple aims to prevent defections to Meta with rare $180K bonuses for top talent (BBG)
  • Cuomo won’t face charges over harassment, Westchester D.A. says (BBG)
  • Portugal posts record number of daily new Covid cases (BBG)
  • Hall of Fame NFL coach and ‘Madden’ video game namesake John Madden passes away at 85 (NYT)
  • 2021's top 10 enterprise M&A deals reached $121B (TC)

A Message From The Know

If you love Litquidity (you’re reading this, so we’ll assume you do), you value news that’s crisp and to the point. 

The Know is a newsletter that delivers a new take on politics: it’s easy-to-digest, straightforward, and nonpartisan. They use primary source data and a no-nonsense tone to deliver objective political news, in five minutes or less, every afternoon.

Their GIF game is a bonus. Check it out here (it’s free).

Deal Flow

M&A

  • Darling Ingredients, a sustainable food processing firm, agreed to buy Valley Proteins, a startup focused on collection and recycling of waste, for $1.1B all-cash (RT)
  • Oak Hill Advisors agreed to buy a controlling interest in 110 North Wacker Drive, a 55-story office tower in Chicago, at a $1B valuation (WSJ)
  • Italy regional utility A2A agreed to buy a majority stake in north-eastern peer Volta Green Energy (RT)
  • Solar and power-storage company SunPower is in advanced discussion to sell its commercial- and industrial-solutions business (BBG)
  • Biotech company Aditxt agreed to buy drugmaker AiPharma (BW)
  • Martin Resource Management Corporation, a provider of marketing and distribution services for fuel oil, asphalt, and diesel, agreed to buy petroleum company Martin Midstream Partners (BW)

VC

  • Indian D2C business scaling startup GlobalBees raised a $110M Series B at a $1.1B+ valuation led by Premji Invest (TC)
  • Metaverse avatar platform Ready Player Me raised a $13M Series A led by Taavet+Sten (VB)
  • Digital health startup DiRx raised a $10M Series A (BW)
  • B2B blockchain based fund transfer startup Almond Finance raised a $2M seed round led by Morningside Group (VC)

SPAC

  • Tech-focused holding company Multiply Group will add an additional $75M PIPE investment into CC Neuberger Principal Holdings II (PRN)

House Keeping Items

  • CALLING ALL ABSOLUTE UNITS: we've got a handful of 2XL Litquidity Bond Fleece Vests left in stock. Big fellas can cop em right here.
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  • If you're a brand looking to advertise on this newsletter, fill out this form and we'll circle back with y'all in the new year.

The Hiring Block

If you're looking to break into finance, lateral, or move out, check out our job board on Pallet, where we curate highly relevant roles for you. We've got 50+ jobs spanning IB, S&T, VC, tech, private equity, DeFi, crypto, CorpDev and more. We sift through all the noise on LinkedIn, Indeed, Monster, etc. so you don't have to.

If you're looking to hire candidates and want to post a job, all you have to do is hit "+ Hire Talent" on the top right of the job board. If you want the role to be featured on Exec Sum, check out our "Featured" and "Premium" tiers.

Meme Cleanser

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