Pelot-oh-nooo

Peloton got absolutely clapped after reporting earnings.

By Litquidity Capital Nov 5, 2021

Together with

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Happy Friday,

Peloton got absolutely clapped after reporting earnings. Moderna held the "clapped crown" during the day until Peloton reported after the close and ripped if off their head. 

We've got a hot jobs report drop this AM. The results will drive US markets today. 

In case you missed it, we're giving away tickets to the "Big Football Game" LIV in LA this upcoming Feb. All you have to do is follow the instructions here

We've also got the long-awaited buy side comp survey results right here. Thanks all for your input. If you want to add your data to the list, pls follow instructions in the link. 

Let's get y'all paid 🤝.

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Before The Bell

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As of 11/4/21 close.

Click here to download the Iris Social Stock app and see the LitCap Yolo Fund's portfolio holdings.

If you want to learn more about crypto trading strategies, check out our Foot Guns newsletter.

Markets

  • Another day another… ATH. The S&P 500 and Nasdaq continued their positive trajectory and closed at new ATHs after stronger-than-expected economic data and the Fed’s patience on raising interest rates boosted confidence in investors
  • The Dow closed just short of its record
  • First-time jobless claims fell to another pandemic low last week, beating analysts’ estimates with 269K (vs. 275K expected)
  • October’s job report drops today and economists are expecting 450K jobs added
  • This will be the first full month of hiring following the expiration of federal enhanced unemployment benefits

Earnings

  • Peloton shares fell 24%, posting weakening sales growth, wider-than-expected losses in Q1, and a discounted FY outlook amid lower demand for their equipment and ongoing supply chain challenges (CNBC)
  • Moderna shares fell 16%+ in early trading yesterday after posting worse-than-expected revenue and earnings numbers paired with a discounted FY vaccine sales forecast, citing production issues as the major impact (CNBC)
  • Square reported lower-than-expected revenue after bringing in lower cryptocurrency revenue than what analysts expected (MW)
  • Uber slightly beat revenue expectations, driven by its delivery arm which continued to outperform their ride-hailing business, and reported wider-than-expected losses, mostly due to a drop in the value of its investment holdings, particularly in Didi (CNBC)
  • What we’re watching today: Coinbase, DraftKings
  • Full calendar here

Headline Roundup

  • White House sets Jan. 4 shots-or-tests deadline for US workers (BBG)
  • UK regulator is first to approve Merck’s Covid-19 pill (BBG)
  • Leukemia-causing Benzene found in underarm sprays (BBG)
  • Google invests $1B in exchange giant CME, strikes cloud deal (WSJ)
  • Hertz will have to wait for Teslas, just like other buyers (WSJ)
  • Nikola expecs $125M SEC penalty under proposed resolution (CNBC)
  • Wingstop CEO encouraged that chicken wing prices are falling from Covid peak (CNBC)
  • AT&T, Verizon to delay 5G rollout over FAA’s airplane safety concerns (WSJ)

A Message From La Aurora

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‘Tis the season...

Fall is here (and it came in hot last week) and the holidays are around the corner.

But we’re talking about a different season: the season of indulgence.

You’ve been grinding ever since the world opened back up, and as we wind down 2021, you deserve to kick back and relax with a premium cigar from La Aurora.

A cigar can elevate the vibe at any occasion and the folks at La Aurora have set the standard for premium craftsmanship since 1903, featuring masterful blends, impeccable construction, and meticulous attention to detail.

Getting together with your family and friends this year? You can impress them with high-quality Dominican cigars after dinner...or, if you’re like most families and don’t get along, it’s your perfect excuse to sneak away and enjoy your own.

Whether you’re a beginner or an aficionado, La Aurora has the right cigar for you (as long as you are over 21!). Its online marketplace can help you pick out a cigar you will love based on your taste preferences in just five quick questions.

Deal Flow

M&A

  • Swiss drugmaker Roche agreed to buy rival Novartis’s ~⅓ stake in their company for $20.7B (CNBC)
  • Two former Walt Disney executives (Kevin Mayer and Tom Staggs) agreed to acquire Moonbug Entertainment, a company behind popular YouTube children’s channels, for ~$3B; the two former execs are financing the deal with money from Blackstone and debt (BBG)
  • Carlyle is in advanced talks to buy ~50% of medical device manufacturing company Resonetics at a $2.3B valuation (BBG)
  • Southwestern Energy agreed to buy natural gas producer GEP Haynesville for ~$1.85B (BBG)
  • The owners of Indonesian herbal remedies manufacturer PT Deltomed Laboratories are exploring a sale of the firm, in a potential $500M deal (BBG)
  • Carlyle approached the UK’s Metro Bank about a possible takeover (RT)
  • E-mobility company Bedeo agreed to buy UK startup Protean, which makes in-wheel motor technology used in EVs, from China Evergrande Group’s automotive unit (BBG)
  • BP is in talks to buy JX Nippon’s stake in the North Sea Andrew Area oil & gas fields, reversing an earlier plan to sell its own holding (BBG)
  • MGM Resorts is putting The Mirage in Las Vegas up for sale (BBG)
  • Fried chicken chain Jollibee agreed to buy a 51% stake in bubble tea company Milkshop International for $12.8M (BBG)

VC

  • Mythical Games, an NFT based game studio, raised a $150M Series C led by a16z (TC)
  • Reltio, a cloud native SaaS data platform, raised $120M in funding from Brighton Park (BW
  • The Sandbox, a Hong Kong-based gaming platform utilizing NFTs to build virtual worlds, raised $93M led by SoftBank Vision Fund 2 (RT)
  • Fountain, a startup helping companies hire hourly workers, raised an $85M Series C led by SoftBank (TC)
  • Sama, a provider of high quality training data for machine learning models, raised a $70M Series B led by CDPQ (TC)
  • PubNub, a platform that provides an API to power messaging and data updates for apps, raised a $65M Series E led by Raine Group (TC)
  • Sustainable omega-3 acid producer AlgiSys raised a $45M Series B led by Peakstone Securities (BW)
  • Babylist, a startup helping parents buy products for a baby’s arrival, raised a $40M Series C led by Norwest Venture Partners (BW)
  • Renter and landlord fintech company Obligo raised a $35M Series B led by 83North (BW)
  • Modern turnkey asset management program GeoWealth raised a $19M Series B led by Kayne Anderson Capital Advisors (BW)
  • Propelo, an analytics platform for data generated by DevOps tools, raised a $12M Series A led by Decibel Partners (TC)
  • AI observability platform WhyLabs raised a $10M Series A co-led by Defy Partners and AI Fund (TC)

IPO / Direct Listings / Issuances / Block Trades

  • Saudi Arabian stock exchange Tadawul won regulators’ approval to list a 30% stake in an IPO (BBG)
  • MTN Group, Africa’s largest mobile-phone operator, plans to sell $244M worth of shares in their Nigeria unit, continuing a plan to dispose of assets and pay down debt (BBG)
  • Software provider HashiCorp filed for a US IPO (BBG)
  • European online DIY marketplace ManoMano is considering an IPO (BBG)

SPAC

  • Online broker TradeStation agreed to merge with Quantum FinTech Acquisition Corp in a $1.43B deal (RT)

Debt

  • Ford plans to repurchase up to $5B of high-yield bonds as part of a plan to restructure its balance sheet and reduce liabilities taken on due to the pandemic (CNBC)

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The Hiring Block

If you're looking to break into finance, lateral, or move out, check out our Litquidity Search Partners job board right here. We've got 80+ jobs spanning IB, S&T, VC, tech, private equity, DeFi, CorpDev and more. 

If you're looking to hire candidates and want to post a job, all you have to do is hit submit on the job board.

Meme Cleanser

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