Walmart Truckers Getting IB Analyst Salary

Walmart is offering IB starting salaries to new truckers, Ketanji Brown Jackson was confirmed as the first black woman to the Supreme Court, Congress passed a ban on Russian oil and gas imports, and US jobless claims hit the lowest level in decades.

Litquidity Capital
April 08, 2022

Together with

Good Morning,

Walmart is offering IB analyst salaries to new truckers, Ketanji Brown Jackson was confirmed as the first black woman to the Supreme Court, Congress passed a ban on Russian oil & gas imports, and US jobless claims hit the lowest level in decades.

Quick shoutout to today's sponsor, Shift 4. They're currently raising $20M in crypto to donate to non-profits. More info below. 

It's Friday, celebrate accordingly and have a great weekend! 🤝

Let's dive in.

Before The Bell

As of 4/7/2022 market close.

If you want to learn more about crypto trading strategies and the world of DeFi, check out our Foot Guns newsletter.

Markets

  • US stocks rebounded on Thursday coming off of back-to-back losing sessions, as investors continued to digest the Fed’s accelerated balance sheet reduction
  • Initial jobless claims data fell last week to a 54-year low
  • Developments from the Russia-Ukraine war continue to drive markets as well, with Ukraine asking NATO for more weapons, the US and EU weighing a ban on Russian coal, and the Senate passing a bill banning Russian oil and gas imports
  • Crude oil fluctuated as the International Energy Agency announced they'll be adding 240M barrels of oil to the global supply given Russia's war in Ukraine
  • Coal stocks gained as the EU agreed to ban coal imports from Moscow

Earnings

  • Nothing new to watch, as big corporate earnings kickoff next week
  • Full calendar here

Headline Roundup

  • Ketanji Brown Jackson confirmed as first black woman on the Supreme Court (WSJ)
  • Congress passes ban on Russian oil and gas imports (CNBC)
  • Fire at Puerto Rico power plant plunges island into darkness (BBG)
  • WHO is preparing for possible chemical attacks in Ukraine war (BBG)
  • Morgan Stanley co-head of technology ECM exits for Vista Equity Partners (BBG)
  • Tencent closes game streaming site after Beijing blocks merger (BBG)
  • US jobless claims fall to 166K, lowest level since 1968 (WSJ)
  • Shell warns of up to $5B hit from Russia exit (WSJ)
  • Ukraine calls for more arms, tougher sanctions to fend off Russia in Donbas (WSJ)
  • Walmart offers $110K starting pay to lure truck drivers (WSJ)
  • Chase Bank partners with EVgo to add EV charging stations at 50 US branches (CNBC)
  • Manhattan DA says Trump criminal investigation continues despite two prosecutors quitting (CNBC)

A Message From Shift4

Shift4 (NYSE: FOUR) is boldly redefining commerce by simplifying complex payments ecosystems across the world. As the leader in integrated payments and commerce technology, Shift4 powers billions of transactions annually for hundreds of thousands of businesses in virtually every industry – including hotels, restaurants, stadiums, casinos, retail, nonprofit, e-commerce and more.

The company recently expanded into the cryptocurrency space with the acquisition of The Giving Block, the leading crypto donation platform. To celebrate, Shift4 launched “Caring with Crypto” – a $20M fundraising campaign for nonprofits on the platform, with Shift4’s CEO matching $10M in donations. You can visit thegivingblock.com/caringwithcrypto for more information about this initiative or to donate.

Learn more about Shift4 at shift4.com.

Deal Flow

M&A / Investments

  • Brookfield Business Partners agreed to buy automotive software maker CDK Global in a $6.4B deal, taking the company private (RT)
  • Berkshire Hathaway agreed to buy a $4.2B+ stake in computer company HP (BBG)
  • Oil tanker companies Frontline and Euronav are considering a potential $4.2B+ merger that would create the world’s biggest tanker fleet (BBG)
  • GIP and Brookfield Asset Management have made non-binding bids for highway and airport group Atlantia, potentially going up against Blackstone (BBG)
  • British online gambling firm 888 will buy William Hill’s international assets from Caesars Entertainment for ~$2.9B (Caesars purchased these assets for $4B in 2020) (RT)
  • Payments provider Bolt Financial agreed to buy crypto infrastructure payments firm Wyre in a $1.5B deal (​​BBG)
  • Macquarie is exploring the sale of a portion of its stake in Maryland Express Lanes, a project designed to reduce congestion across key traffic arteries in the US state, which is valued at ~$1.25B (BBG)
  • WindAcre Partnership, the shareholder opposing the takeover of TV-ratings firm Nielsen by a Brookfield- and Elliot-led consortium, offered to support the deal if offered ~$1.1B in additional equity (BBG)
  • Israeli energy conglomerate Delek’s North Sea subsidiary Ithaca agreed to buy Siccar Point Energy for $1.1B (RT)
  • Pfizer agreed to buy ReViral, who manufactures experimental drugs against respiratory syncytial virus, in an up to $525M deal (RT)

VC

  • Fetch Rewards, a consumer rewards app, raised $240M in debt / equity at a $2.5B+ valuation led by Hamilton Lane (PRN)
  • LogicSource, a provider of procurement services and tech solutions, raised $180M in funding from FTV Capital (PRN)
  • Jüsto, a LatAm online grocer, raised a $152M Series B led by General Atlantic (BW)
  • Metaverse technology company Improbable raised $150M in funding led by a16z and Softbank Vision Fund 2 (BW)
  • VPN provider NordVPN raised a $100M round at a $1.6B valuation led by Novator (TC)
  • AI-powered disease detection and care coordination platform Viz.ai raised a $100M Series D at a $1.2B valuation led by Tiger Global and Insight Partners (BW)
  • Web3 blockchain security startup CertiK raised an $88M Series B-3 at a $2B valuation led by Insight Partners, Tiger Global, and Advent International (TC)
  • SamCart, a creator economy e-commerce platform, raised an $82M Series B led by Eldridge (BW)
  • Built Robotics, a startup building autonomous construction robots, raised a $64M Series C led by Tiger Global (PRN)
  • Lilt, a business-focused AI translation platform, raised a $55M Series C led by Four Rivers (TC)
  • Eleanor Health, an addiction and mental health care provider, raised a $50M Series C led by General Catalyst (BW)
  • OpenPhone, a startup providing phone services via a smartphone app, raised a $40M Series B led by Tiger Global (TC)
  • Cloud-enabled investor engagement platform InvestorFlow raised a $30M Series A led by Ambina Partners (BW)
  • e-Zinc, a startup building zinc-air batteries with long term storage, raised a $25M Series A led by Anzu Partners (BW)
  • The Parentinc, a Singapore-based startup that runs a parenting community and D2C product line, raised a $22M round led by East Ventures (TC)
  • LTZ Therapeutics, an immunotherapy-focused biotech company, raised a $17M pre-Series A led by K2 Venture Partners (PRN)
  • Esports earnings platform Community Gaming raised a $16M Series A led by SoftBank (PRN)
  • Digital life insurance platform Covr Financial Technologies raised a $15M Series B led by Stone Point Ventures (PRN)
  • Dyte, a startup helping developers build better video calls, raised an $11.6M seed round led by Unbound, Surge, Nexus Venture Partners, and angels (TC)
  • Peeba, a startup aiming to digitize Asia’s B2B wholesale market, raised a $4.2M seed round led by Headline Ventures (TC)

IPO / Direct Listings / Issuances / Block Trades

  • CI Financial is planning to spin off and publicly list its US wealth management arm which has $133B in AUM (pro-forma for a string of 30+ acquisitions its made since 2020) (BBG)
  • Vietnamese EV maker VinFast filed for a US IPO that could raise ~$2B (BBG)
  • Saudi oilfield-services company Arabian Drilling hired banks for its planned IPO at a potential $1.4B valuation (BBG)
  • China’s largest tire maker ZC Rubber is considering raising up to $1B in a Shanghai IPO (BBG)
  • Israel is planning an IPO of 40% of Israel Postal Co. in Tel Aviv by end of year (BBG)

Fundraising

  • Growth equity firm Lead Edge Capital raised a $1.95B Fund VI (TC)
  • Early-stage VC firm Imaginary Ventures raised a $500M Fund III (BW)

Crypto Corner

  • Mexican billionaire Ricado Salinas says his liquid portfolio is 60% Bitcoin (DC)
  • Robinhood to use Lightning Network for bitcoin transactions (DC)
  • Robinhood rolls out crypto wallet to 2M users (BBG)
  • Treasury Secretary Janet Yellen calls crypto ‘transformative’ in wide-ranging speech (CD)

Exec's Picks

  • Doorvest helps you generate passive income remotely by facilitating the purchase of a single-family rental entirely online. They’ll also manage the property, making owning rentals as easy as owning a stock. Only in this case, you own the whole home! Get started today

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 40+ 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.

Meme Cleanser

Catch the latest episode of our Big Swinging Decks podcast, presented by CoinFLEX.US, on Spotify and Apple Music 🤝 

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