The Week Ahead

Transaction Updates, PLUS Bumble's Founder Makes a Wild Claim.

Author

HY Harry
May 12, 2024

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The week ahead of us 🔍

Upcoming Earnings: The pace of earnings is slowing down, as peak earnings is behind us.

  • Tuesday: Home Depot, Alibaba, Sony, On Holding,

  • Wednesday: Cisco, Dynatrace, Monday.com, ViaSat, B. Riley

  • Thursday: Walmart, Applied Materials, Deere, National Grid, Ross Stores, Baidu, Take-Two Interactive, Advanced Drainage Systems, DXC, Doximity, Under Armour, Canada Goose

Headlines 🔍

  • Jim Simons, the founder of quantitative-focused hedge fund Renaissance Technologies passed away at age 86. Simons is considered the OG “quant” and had a great quote below:

  • Bumble founder Whitney Wolfe Herd confused the hell out of everyone by saying the future of dating is having your AI date other people's AI and recommend the best matches for you to meet. The video is here. The audience appropriately laughed at her. Pretty saw I already saw this episode of Black Mirror….

  • Ever wonder why NYC weekends have worse weather than during the weekday? Well the answer is apparently Climate Change

  • Apple and OpenAI are nearing a deal to bring Chat GPT to ios18

  • ‘Big Short’ trader Danny Moses is still betting against Tesla, says core business is ‘falling apart’

  • Sweetgreen had solid earnings. They reported SSS growth of 5% and raised their full year revenue guide to $660mm-$675mm. They also launched steak dishes, which people seem to be loving thus far.

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Transactions: M&A 💭 

Whitehead Alenia Sistemi Subacquei, designer and manufacturer of advanced systems to support underwater surveillance, has reached a definitive agreement to be acquired for $444.24M by Fincantieri (MIL: FCT). Rothschild & Co, and UBS advised on the sale.

T-Mobile US (NAS: TMUS) Has Reached a definitive agreement to acquire the Operations and Wireless Spectrum Licenses of UScellular (NYS: USM) for $2.0B.

Roberto Coin, manufacturer of fine jewelry, was acquired for $130.00M by The Watches of Switzerland Group (LON: WOSG).

KP Global Investment, provider of investment services, has reached a definitive agreement to be acquired for $151.00M by Ding Shun Investments.

Jeonju Paper, manufacturer of paper-making raw materials, was acquired for $494.9B by SeAH Group. Mirae Asset Securities advised on the sale.

Royalty Pharma (NAS: RPRX) has entered into a definitive agreement to acquire Frexalimab of ImmunNext for $525.00M.

AGS (NYS: AGS), designer and supplier of gaming products, has entered a definitive agreement to be acquired for $1.1B by Brightstar Capital Partners. Macquarie Capital advised on the sale.

Piedmont Bank, provider of personal and commercial banking services, has reached a definitive agreement to be acquired for $267.00M by United Bank (NAS: UBSI). Burke Stelling Group advised on the sale.

Transactions: Private Placements 💭

Holistic AI raised $200.00M through a combination of convertible debt and equity at a pre-money valuation $170.00M. Accel, UiPath, Eric Schmidt, and Wendy Schmidt participated in the round.

Bluejay Therapeutics, developer of therapeutic medicines, has raised $182.00M of Series C venture funding led by Frazier Lifesciences Acquisitions.

Attovia, developer of biotherapeutics, has raised $105.00M of Series B venture funding led by The Goldman Sachs Group.

Noteworthy Chart 🧭

Best of YouTube ⌚️

Why Fast Food has gotten so expensive from CNBC.

People have been complaining lately about value meals are literally costing $10, $12, or even more! Shortly after this video was posted, news broke that McDonald’s is working on trying to create a $5 value meal again.

Odds of the Week 🍒 

Kalshi traders are betting on whether ChatGPT-5 will be released this year or not.

Meme Cleanser 😆 

Until next time!