The S&P 500 futures dropped 21 points, Nasdaq 100 futures fell 82 points, and Dow Jones Industrial Average futures decreased by 135 points, each showing a 0.3% decline. The fall is influenced by a drop in mega-cap stocks and a rise in yields. The 10-year yield increased to 4.60%, while the 2-year yield remained at 4.33%.
Today's economic focus includes the advance reading of Wholesale Inventories and Retail Inventories for November, set for release at 8:30 ET.
Some key stock movements:
- Walt Disney (DIS, Financial): Stock at 112.28, down 0.27, a decrease of 0.2%.
- Netflix (NFLX, Financial): Stock at 919.97, down 4.17, a decrease of 0.5%.
- Estee Lauder (EL, Financial): Stock at 74.64, down 0.36, a decrease of 0.5%. Initiated with a Market Perform rating and a target of $82.
- Tencent Music (TME, Financial): Stock at 12.05, up 0.13, an increase of 1.1%. Upgraded to Buy from Hold.
The economic data to watch today includes advance readings on Wholesale Inventories and Retail Inventories for November.
Today's News
BioNTech (BNTX, Financial) announced two significant agreements totaling over $1 billion to resolve royalty and other claims related to its COVID-19 vaccine sales. The agreements involve payments to the National Institutes of Health and the University of Pennsylvania. This settlement includes a $750 million payment to NIH, with Pfizer (PFE, Financial) reimbursing $364.5 million in royalties. A new licensing deal with NIH will also entail additional royalties from 2024.
My Size (MYSZ, Financial) saw a substantial pre-market surge of 86.49% following its optimistic 2025 revenue guidance. The company projects a $15 million revenue, surpassing the $10.50 million consensus, driven by technological advancements and market expansion in Europe. My Size also anticipates 2024 revenue growth of 23% year-over-year, with expectations of further operational cost savings to support strategic investments.
American Battery Technology (ABAT, Financial) shares rose by 18.15% after entering a securities purchase agreement with institutional investors. The deal involves the sale of shares and warrants at $2.65 per share, expected to close by December 2024. The company aims to raise $10 million in gross proceeds from this offering.
UnitedHealth Group (UNH, Financial) and Amedisys (AMED, Financial) have agreed to waive their rights to terminate their merger agreement, potentially delaying the transaction until late next year. The $3.3 billion acquisition faces regulatory challenges, including a lawsuit from the U.S. Department of Justice. The waiver will remain effective until a final court order or December 2025.
Samsung Electronics (SSNLF, Financial) is reportedly planning to reorganize its supply chain for advanced semiconductor packaging. This strategic move aims to enhance its competitiveness in packaging technologies, crucial for high-performance semiconductors like High Bandwidth Memory. Samsung is reviewing its current supply chain and considering new suppliers for materials and equipment.
Microsoft (MSFT, Financial) reiterated its partnership with OpenAI while exploring in-house and non-OpenAI AI models for its Copilot products. The company emphasizes its ability to customize OpenAI's models for integration into its products, indicating a flexible approach to its AI strategy.
Netflix (NFLX, Financial) and Disney's (DIS, Financial) sports channels experienced record viewership on Christmas Day, driven by NBA games. The Lakers vs. Warriors matchup attracted 7.76 million viewers, marking the most-watched NBA game on Christmas Day in five years. ESPN's (DIS, Financial) viewership increased by 4% this season, maintaining its position as a top cable network among viewers under 50.
GuruFocus Stock Analysis
- Apple Joins Google's Antitrust Battle Over Online Search by ShantiPutri
- Merger Drama: UnitedHealth-Amedisys Waive Termination Rights, Face DOJ Hurdles with Extended Deal by Muslim Farooque
- Beyond OpenAI: Microsoft's Bold Move to Revolutionize Copilot with Diverse AI Models by Muslim Farooque
- Tesla's Valuation Hits New Limits but Remains Worth Holding by Oliver Rodzianko
- Dow Steadies, But Bond Market Screams Warning: What Investors Need to Know Now by Khac Phu Nguyen
