Robbin The HOOD

By Litquidity Capital Nov 9, 2021

Together with

Good morning,

Robinhood got hacked, J Pow is on the hot seat as Biden interviews other Fed Chair candidates, stocks closed at ATHs yet again. LitCap Yolo Fund has been having itself a good last 30 days, as it's now up double-digits YTD. Hopefully Karl can pull some cats out of the bag and outperform the three major indexes before year end. 

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Now that we've got that out of the way, let's dive in.

Before The Bell

As of 11/8/2021

Markets

  • Another day, another session closing at ATHs for all three major indexes
  • Major winners in equities were the industrials and materials sectors, as companies in those industries will be the ones benefiting most from the $1T infrastructure bill that the House passed and sent to Biden on Friday
  • Investors will be watching the PPI (Producer Price Index) and CPI (Consumer Price Index) data which will be released today and tomorrow, respectively, for a fresh inflationary gauge

Earnings

  • PayPal reported a higher-than-expected Q3 EPS, and shares rose as much as 6% AH yesterday even though the company missed on revenue and dimmed its FY outlook (CNBC)
  • AMC posted beats on both Q3 EPS (narrower-than-expected loss) and revenue, riding the reopening wave fueled by an ‘appealing film slate’ and rising vaccination rates (IBD)
  • What we’re watching today: Palantir, Coinbase
  • Full calendar here

Headline Roundup

  • Tesla falls as Twitter users back Musk selling 10% of his stake (BBG)
  • Fed’s Randal Quarles (Vice Chairman for bank supervision) to resign at end of year (WSJ)
  • Manufacturers expect infrastructure projects to boost sales and ease transport snarls (WSJ)
  • Fed Governor Lael Brainard was interviewed by Biden for Fed Chair as search heats up (BBG)
  • China to issue licenses for education companies to resume after-school tutoring (WSJ)
  • Chinese automaker Geely launches electric truck, its rival to Tesla’s semi (CNBC)
  • DraftKings, FanDuel, among winners for New York sports betting licenses (BBG)
  • Does Elon Musk have paper hands? (ES)

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Deal Flow

M&A

  • US-based satellite and land-based communications services company Viasat agreed to buy British rival Inmarsat in a $7.3B cash / stock deal (RT)
  • Medical equipment maker Coloplast agreed to buy laryngectomy specialist Atos Medical in a $2.5B deal (RT)
  • A JV between affiliates of Highgate and Cerberus Capital Management agreed to buy La Quinta Hotels owner CorePoint Lodging in a ~$1.5B deal (BBG)
  • Happiest Baby, the maker of popular “smart” crib Snoo, is exploring a sale at a potential $1B valuation (BBG)
  • KKR is in talks to buy Telecom Italia’s network unit as part of one of the strategic options for the former Italian phone monopoly (BBG)
  • Packaged food maker TreeHouse Foods is exploring options including a sale or divestment of a unit after activist investor Jana Partners said they were undervalued (RT)
  • Spanish residential RE developer Neinor Homes is in negotiations to buy rival Via Celere (RT)

VC

  • Earth observation startup HawkEye 360 raised a $145M Series D led by Insight Partners and Seraphim Space Investment Trust (TC)
  • Ecommerce aggregator Razor Group raised a $125M Series B at a $1B+ valuation from 468 Capital, Fortress Investment Group, and more (TC)
  • JUMO, a startup offering financial services to entrepreneurs in emerging markets, raised a $120M round at a $400M valuation led by Fidelity (TC)
  • Indian car-sharing marketplace Zoomcar raised a $92M round led by SternAegis (TC)
  • ML operations tools startup Landing AI raised a $57M Series A led by McRock Capital (TC)
  • Blockchain startup Matter Labs raised a $50M Series B led by a16z Crypto (TC)
  • Swimm, an Israeli startup helping dev teams manage documentation, raised a $27.6M Series A led by Insight Partners and Dawn Capital (TC)
  • Instant booking app FunNow raised a $15M Series B led by Perfect Hexagon Commodity & Investment Bank and Ascendo Ventures (TC)
  • Crypto compliance SaaS startup Notabene raised a $10.2M Series A led by F-Prime Capital and Jump Capital (TC)
  • Precise location tech startup Point One Navigation raised a $10M Series A led by UP Partners (TC)
  • For Them, a startup building wellness products for the queer community, raised a $2M pre-seed round led by Resolute Ventures (TC)
  • Sneaker fit startup Neatsy.ai raised a $1M seed round from Cabra VC, Flyer One VC, and others (TC)

IPO / Direct Listings / Issuances / Block Trades

  • Chinese EV maker Leapmotor picked China International Capital, Citigroup, and JPMorgan to work on its planned $1B+ Hong Kong IPO (BBG)
  • Property and casualty insurer Definity Financial is seeking to raise $1B in an IPO (BBG)

SPAC

  • Digital World Acquisition Corp, the SPAC tied to Donald Trump’s new media venture, has begun scheduling meetings with prospective investors for a PIPE transaction to support its merger with Trump Media & Technology (BBG)

Debt

  • Indian online education provider Byju more than doubled the target size of its term loan B to $1.2B from the $500M previously sought after receiving strong demand from global investors including Blackstone, Fidelity, and GIC; the TL is priced at L+550 (BBG)

Exec's Picks

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