Wall Street Breakfast

WestRock (WRK) jumps on Smurfit Kappa (SMFTF) merger to create $20B packaging giant. (00:28) JPMorgan (JPM) CEO Jamie Dimon slams Basel III endgame proposal. (01:34) Paramount (PARA) parent strikes deal with lenders to refinance debt - report. (02:31)Episode transcripts seekingalpha.com/wsb.Sign up for our daily newsletter here and for full access to analyst ratings, stock quant scores, dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions.Show links:August CPI headline inflation to rise on oil surge, core CPI expected to recededStratasys rejects revised offer from 3D SystemsTesla, suppliers expected to invest $15B in Gigafactory Mexico - report

Leaks about strong IPO demand could be a bearish sign. (0:15) Citi opens catalyst watch on Microsoft (MSFT). (3:02) Meta (META) already aiming for more powerful AI model. (3:44)Episode transcripts seekingalpha.com/wsbSign up for our daily newsletter here and for full access to analyst ratings, stock quant scores, dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions.Show NotesInstacart aims for $7.8B valuation in IPOCopper bounces from three-week low as Chinese currency gains vs. dollarQualcomm pops as Apple extends chip supply agreement until 2026Barclays warns that a global slowdown is on the horizon

Alibaba (BABA) falls as ex-CEO Daniel Zhang unexpectedly quits cloud unit. (00:24) J.M. Smucker (SJM) nears deal to buy Hostess Brands (TWNK) - WSJ. (01:26) Tesla (TSLA) is a top pick at Morgan Stanley with Dojo called a $500B wildcard. (02:00)Episode transcripts seekingalpha.com/wsb.Sign up for our daily newsletter here and for full access to analyst ratings, stock quant scores, dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions.Show links:Biggest stock movers today: Tesla and Crinetics PharmaceuticalsFDIC says it could have done more to warn First Republic Bank of rate risksApple's big event may be 'quiet.' Why Wall Street thinks that's a good thingKenvue shares may gain after FDA comments in Tylenol-Autism warning label lawsuit

Chris DeMuth Jr. talks about investing in 2023, the current state of the market (0:30) and why he likes the energy sector, especially oil and gas (4:40). This is an abridged conversation from Seeking Alpha's recent Investing Experts podcast.Subscribe to Chris' investing group, Sifting The WorldShow links:Putting The G In ESG With GasLogChris DeMuth's State Of The Markets January 2023Sign up for our daily newsletter here and for full access to transcripts, analyst ratings, stock quant scores, dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions.

Labor pains: General Motors (GM) and Ford (F) fall after the UAW pushes back against offers. (00:29) Apple (AAPL) slips again on China worries; issue is 'way overblown,' analysts say. (02:01) SEC investigating Ryan Cohen's Bed Bath & Beyond trades - WSJ. (03:11)Episode transcripts seekingalpha.com/wsb.Sign up for our daily newsletter here and for full access to analyst ratings, stock quant scores, dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions.Show links:Biggest stock movers today: Smith & Wesson Brands, Hudson Pacific Properties and moreFederal Reserve likely has more work to do, Dallas Fed's Lorie Logan saysFederal Reserve's policy rate is in "a good place' right now, NY Fed's Williams saysFresh round of job cuts coming for Goldman Sachs underperformers

C3.ai (AI) says will not be profitable in Q4 of fiscal year 2024. (00:29) Alibaba (BABA), Baidu (BIDU), Tencent (TCEHY) top picks at CLSA as firm sees trio leading AI innovation. (01:33) AMC sees largest drop since 2021 on plan to sell up to 40M shares. (03:00)Episode transcripts seekingalpha.com/wsb.Sign up for our daily newsletter here and for full access to analyst ratings, stock quant scores, dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions.Show links:Biggest stock movers today: WestRock, BlackBerry, C3.ai and moreApple slips as China reportedly orders government agencies to stop using iPhonesU.S. Senate confirms Lisa Cook for full 14-year term as Federal Reserve GovernorSAP will acquire LeanIX, an architecture management softwareWestRock in talks to merge with Smurfit Kappa - WSJ

Oil jumps to 10-month high as Saudi Arabia, Russia prolong cuts in output. (00:31) Enbridge's (ENB) falls on deal to buy 3 utilities from Dominion (D) for $14B. (01:30) Kroger (KR), Albertsons (ACI) in talks to sell grocery stores to C&S Wholesalers - report. (02:03)Episode transcripts seekingalpha.com/wsb.Sign up for our daily newsletter here and for full access to analyst ratings, stock quant scores, dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions.Show links:Biggest stock movers today: Enbridge, AeroVironment and moreAbbott acquires Bigfoot Biomedical, furthers growth of personalized solutions for diabeticsFTC expected to file antitrust lawsuit against Amazon later this month - reportHealthcare services provider Syra downsizes proposed IPO to $6MZoom CEO says FTC should look into Teams bundling in US

AI to represent 11% of healthcare budgets in 2024 - Morgan Stanley. (00:33) Thoma Bravo in advanced talks to purchase NextGen Healthcare (NXGN)- report. (01:44) Nestle-partnered (NSRGY) weight loss capsule succeeds in pivotal trial. (02:15)Episode transcripts seekingalpha.com/wsb.Sign up for our daily newsletter here and for full access to analyst ratings, stock quant scores, dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions.Show links:IPO Roundup: Arm Holdings, Prospect Energy Holdings and moreLooking to stay in NYC for a visit? Good luck using AirbnbTrip.com Q2 topline shows a 180% jumpTesla's China-made EV sales surge in August

A rise in the unemployment rate with participation rising points to a looser labor market. (0:15) Stocks set to gain for the week after a down August where oil was a rare winner. (1:27)Episode transcripts seekingalpha.com/wsbSign up for our daily newsletter here and for full access to analyst ratings, stock quant scores, dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions.Show NotesWalgreens Boots CEO Rosalind Brewer resignsLi Auto deliveries rose 663.8% Y/Y in AugustNIO delivers 19,329 vehicles in August

23andMe (ME) rises on FDA clearance to report more genetic variants. (00:26) UPS offers some pilots an early retirement package. (01:12) Bernstein says reclassifying cannabis as Schedule III not preferred outcome. (01:47)Episode transcripts seekingalpha.com/wsb.Sign up for our daily newsletter here and for full access to analyst ratings, stock quant scores, dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions.Show links:Fresh stimulus from China to bolster crisis-hit property sectorAditxt stock drops 48% on $10M private placementLi Auto sales rose 663.8% Y/Y in AugustFord Motor offers UAW workers a 15% combined wage raise

The Fed tells some lenders to strengthen liquidity positions. (0:15) The FOMC's favorite inflation gauge ticks up year-on-year. (1:46) U.S. expands AI chip shipment curbs. (4:14)Episode transcripts seekingalpha.com/wsbSign up for our daily newsletter here and for full access to analyst ratings, stock quant scores, dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions.Show NotesCharts favor three heavily-shorted REITs - BTIGDiscounter pain: Dollar General peels off 14% after guidance cut; Dollar Tree and Five Below also fallPalantir dips after Morgan Stanley cuts rating

Salesforce (CRM) jumps as Q2 results top expectations, raises guidance. (00:31) CrowdStrike (CRWD) slips even as Q2 results surpass estimates, raises guidance. (01:28) Baidu (BIDU) among first companies to get China nod for AI models -report. (02:33)Episode transcripts seekingalpha.com/wsb.Sign up for our daily newsletter here and for full access to analyst ratings, stock quant scores, dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions.Show links:Biggest stock movers today: Salesforce, UBS, Okta and moreSam Bankman-Fried lawyers push for fraud trial delayToyota restarts Japan assembly lines after production system malfunctionTesla under DOJ investigation for building Musk a glass castleCannabis stocks rally amid reports DEA may reclassify drug as less risky

GDP and inflation are revised down, prompting more dovish bets. (0:15) ATM fees hit a new record. (3:05) Burger King’s Whopper will be on trial. (3:32)Episode transcripts seekingalpha.com/wsbSign up for our daily newsletter here and for full access to analyst ratings, stock quant scores, dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions.Show NotesQuits rate, not openings, hints at a peak in the business cycleU.S. airlines are expected to see record traffic over Labor Day weekendTexas Instruments falls as Bernstein downgrades on revenue, margin concerns

Grayscale wins court ruling over SEC's denial of Bitcoin ETF; Coinbase (COIN) jumps. (00:28) Hurricane Idalia may lift construction stocks in shorter term: Citibank. (01:58) Planet Fitness (PLNT) expands pricing pilot to more states. (03:06)Episode transcripts seekingalpha.com/wsb.Sign up for our daily newsletter here and for full access to analyst ratings, stock quant scores, dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions.Show links:Biggest stock movers today: Ambarella, HPQ, Box and moreJOLTS shows megacaps are still mega-dependent on the FedVinFast Auto plunges on market cap reality checkAmazon's CEO: Come back to the office or elseCatalyst Watch: Spotlight on Lululemon, drug pricing and the August jobs report

EV maker NIO feels the pinch of lower prices on margins. (0:15) Job openings drop to lowest level in more than 2 years. (1;28) The first 10 Medicare Part D drugs chosen for price negotiations. (3:36)Episode transcripts seekingalpha.com/wsbSign up for our daily newsletter here and for full access to analyst ratings, stock quant scores, dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions.Show NotesNIO in charts: Q2 deliveries disappoint amid shift in market preference to Sedans from SUVsJefferies picks a baker's dozen of top small and midcap stocksAT&T, Verizon get rating upgrades at CitiBest Buy gains after posting better-than-feared Q2 earnings report

American Airlines (AAL) is hit with the largest fine ever for breaking tarmac delay rules. (00:27) Toyota (TM) halts production at all factories in Japan. (01:17) Amazon (AMZN) hikes free shipping minimum to $35 to match Walmart's (WMT) requirement. (02:36)Episode transcripts seekingalpha.com/wsb.Sign up for our daily newsletter here and for full access to analyst ratings, stock quant scores, dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions.Show links:Biggest stock movers today: Jackson Financial, UP Fintech and moreMeta, Google, others said to meet with Sen. Schumer on AI next monthSummer of strikes: Why is labor rising across the U.S.?3M board approves $6B settlement for combat earplugsCatalyst Watch: Spotlight on Lululemon, drug pricing and the August jobs report

Property developer China Evergrande loses 80% of its value as it resumes trading. (0:15) Under Armour (UAA) gets a vote of confidence. (2:05) Danaher to pay $5.7B for UK’s Abcam. (2:56)Episode transcripts seekingalpha.com/wsbSign up for our daily newsletter here and for full access to analyst ratings, stock quant scores, dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions.Show NotesHedge and mutual funds rotate from tech; see the stocks they love and shunKimco to acquire RPT REalty in $2B all-stock dealMongoDB rises as Citi expects 'more impressive' results than competition

XPeng (XPEV) enters a strategic partnership with DiDi Global (DIDIY) that includes buying its smart car arm. (00:30) 3M (MMM) agrees to pay more than $5.5B in settlement over military earplugs - report. (01:29) Jabil (JBL) to sell China manufacturing business in $2.2B deal. (02:26)Episode transcripts seekingalpha.com/wsb.Sign up for our daily newsletter here and for full access to analyst ratings, stock quant scores, dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions.Show links:Biggest stock movers today: XPeng, VinFast and moreRaimondo in China to discuss U.S.-Sino bilateral relationshipDatabricks in discussions to raise funds at $43B valuation - reportWall Street lists potential targets for Medicare drug price negotiationsCatalyst Watch: Spotlight on Lululemon, drug pricing and the August jobs report

Catalyst watch for the week of August 27. Seeking Alpha Senior Executive Editor Kim Khan on the core PCE price index and the August jobs report. (00:22) Julie gives a brief earnings preview of CrowdStrike (CRWD) and Salesforce (CRM). (03:05) Kim also shares insight behind the euphoria fading following Nvidia’s (NVDA) second-quarter results and guidance. (04:32)Episode transcripts seekingalpha.com/wsb.Sign up for our daily newsletter here and for full access to analyst ratings, stock quant scores, dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions.Show links:Catalyst Watch: Spotlight on Lululemon, drug pricing and the August jobs reportFederal Reserve is prepared to hike rates more if needed: Powell at Jackson HoleNvidia: Quick Takes On Monstrous Q2 2024 Earnings BeatCrowdStrike checks 'solid,' Q2 results may show seasonality: BarclaysSalesforce checks show 'stable to improving' demand, Wells Fargo says

Jay Powell plays it safe, leading to large swings in stocks. (0:15) Investors ramp up bets against Disney as it hits 9-year low. (2:21) The S&P is flashing a correction signal not seen since the early 2003s. (3:51)Episode transcripts seekingalpha.com/wsbSign up for our daily newsletter here and for full access to analyst ratings, stock quant scores, dividend grades, subscribe to Seeking Alpha Premium at seekingalpha.com/subscriptions.Show NotesSix countries invited to join BRICS, including Saudi ArabiaNetflix rises as Loop Capital upgrades on valuation, improving fundamentalsMeta launches AI model for coding