 | *past 24-hour performance |
| | Disney caught by surprise: Activist investor Nelson Peltz has amassed a $2.5 billion stake in Walt Disney (DIS) and is preparing to make a second run at pressuring the company to grant him with board seats (Variety)
Mack Trucks strike: 4,000 UAW workers at Mack Trucks, whose parent company is Volvo Trucks (VLVLY), went on strike after 73% voted against a tentative 5-year contract (AP)
Defense stocks soar: On the heels of the new war in the Middle East, defense stocks Northrop Grumman (NOC), L3Harris (LHX), Huntington Ingalls (HII), Lockheed Martin (LMT) and General Dynamics (GD) rounded out the top five gainers on the S&P 500 (Bloomberg)
Oil steadied: Oil held on to its biggest jump in 6 months as Israel said its retaliation for attacks by militant group Hamas over the weekend had “only started,” increasing the prospect of fresh instability in the region as the fighting enters its fourth day (Bloomberg)
Tourism stocks stumble: The travel sector was by far the weakest segment in the S&P 500 on Monday after Israel was attacked by terror group Hamas. Global markets reacted as airlines faced service disruptions and a surge in oil prices threatened travel profit margins (Barron’s)
Truist eyes $10B insurance exit: Regional bank Truist (TFC) is in talks to sell its giant insurance brokerage to PE firm Stone Point for about $10 billion, an early consequence of new, tighter regulations meant to avoid another run of bank failures (Semafor)
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| | On stock drawdowns and how to handle them: Drawdowns are part of the life of every investor. Invariably, if you own a stock for a long time, you are going to have to sit through several. Read more » | Putting a value on the Birkenstock IPO: “The value that I estimate for Birkenstock, with my inputs on growth, profitability and risk, is about €8.38 billion, about 10% less than the rumored offering pricing. It is, in my view, a reach at €45 or €50 per share, but if the market turns sour, and the stock drops to below €40, I would be a buyer.” Read more » |
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| | The Owner of the NYSE wants to expedite your mortgage (WSJ) The $650m+ Spirit Halloween business (SatPost) Lawmakers shift gears on TikTok ban (Politico) RFK Jr. to run as independent in 2024, ditching Democratic primary bid (Axios)
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| |  | The Kobeissi Letter @KobeissiLetter |  |
| Fantastic graphic showing that a record 447,000 Americans are now working 2 full-time jobs. Meanwhile, part-time employment has jumped by nearly 1.2 MILLION since June. The number of Americans working 2 full-time jobs is now ~33% higher than it was in 2008. Americans are… twitter.com/i/web/status/1… |  | | | Oct 9, 2023 | | |  | | | 1.99K Likes 619 Retweets 120 Replies |
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