{"id":73904,"date":"2024-03-04T09:07:59","date_gmt":"2024-03-04T14:07:59","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=73904"},"modified":"2024-03-04T09:07:59","modified_gmt":"2024-03-04T14:07:59","slug":"coffee-with-greta-digesting-the-rally","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2024\/03\/04\/coffee-with-greta-digesting-the-rally\/","title":{"rendered":"Coffee With Greta: Digesting The Rally"},"content":{"rendered":"

DJIA Futures: <\/b>-178 (-0.5%)<\/span><\/p>\n

SPX Futures: <\/b>-10 (-0.2%)<\/span><\/p>\n

NASDAQ Futures: <\/b>-1 (-0.01%)<\/span><\/p>\n

Good morning friends!<\/span><\/p>\n

Futures are slipping as traders digest last week\u2019s record-breaking run.<\/span><\/p>\n

Let\u2019s get right to it!<\/span><\/p>\n

Upcoming S&P 500 Members Rise<\/span><\/h2>\n

Super Micro Computer <\/b>(SMCI) shares are rallying 16.9% ahead of the open with <\/span>Deckers Outdoor <\/b>(DECK) up 4.5% after the S&P 500 announced Friday the two companies will join the blue-chip index later this month.\u00a0<\/span><\/p>\n

They will replace <\/span>Whirlpool <\/b>(WHR) and <\/span>Zions Bancorp <\/b>(ZION) as of the market open on March 18.\u00a0<\/span><\/p>\n

SMCI currently has a market cap of over $50 billion while DECK is valued at about $22 billion.\u00a0<\/span><\/p>\n

JetBlue, Spirit Ditch Merger Agreement<\/span><\/h2>\n

Spirit Airlines <\/b>(SAVE) shares are plunging 19.7% in premarket trade after announcing it is ending its agreement to merge with <\/span>JetBlue Airways <\/b>(JBLU).\u00a0<\/span><\/p>\n

JBLU shares are up 4.3%.\u00a0<\/span><\/p>\n

The airlines have decided to ditch the deal after losing a federal antitrust lawsuit that challenged it in January.\u00a0<\/span><\/p>\n

The companies appealed that decision soon after as required under the merger agreement but it was not expected to succeed.\u00a0<\/span><\/p>\n

In a note to staff, JetBlue\u2019s CEO said the merger was, \u201ca bold and courageous plan intended to shake up the industry status quo, and we were right to compete with Frontier and go for an opportunity that would have supercharged our growth and provided more opportunities for crewmembers.\u201d<\/span><\/p>\n

She added, \u201cHowever, with the ruling from the federal court and the Department of Justice\u2019s continued opposition, the probability of getting the green light to move forward with the merger anytime soon is extremely low.\u201d<\/span><\/p>\n

Investment Firms Increase Macy\u2019s Buyout Offer<\/span><\/h2>\n

Macy\u2019s <\/b>(M) shares are jumping 14.2% ahead of the open after Arkhouse Management and Brigade Capital Management increased their buyout offer for the department store chain.\u00a0<\/span><\/p>\n

The firms are now offering to acquire the M stock they do not already own for $24 per share vs the previous offer for $21 per share.\u00a0<\/span><\/p>\n

That represents a premium of about 33% to the closing price of $18.01 per share on Friday and values Macy\u2019s at $6.6 billion.\u00a0<\/span><\/p>\n

Arkhouse said, \u201cWe continue to offer the company an attractive alternative solution through a sale of the company at a substantial premium. This would provide Macy\u2019s stockholders with significant value and immediate liquidity.\u201d<\/span>
\n<\/span>
\n<\/span>Macy\u2019s said, \u201cThe Macy\u2019s Inc Board will carefully review and evaluate the latest proposal.\u201d<\/span><\/p>\n

Bitcoin Tops $65,000<\/span><\/h2>\n

Bitcoin is starting the new week higher, inching closer to its all-time high.\u00a0<\/span><\/p>\n

The cryptocurrency is currently up 4.1% at $65,334.82.<\/span><\/p>\n

It touched $65,658.10 earlier this morning, the highest level since November 2021.\u00a0<\/span><\/p>\n

Bitcoin gained 21% last week, marking its best week in nearly a year.\u00a0<\/span><\/p>\n

The coin hit an all-time high of $68,982.20 intraday in November 2021.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

DJIA Futures: -178 (-0.5%) SPX Futures: -10 (-0.2%) NASDAQ Futures: -1 (-0.01%) Good morning friends! Futures are slipping as traders digest last week\u2019s record-breaking run. Let\u2019s get right to it! Upcoming S&P 500 Members Rise Super Micro Computer (SMCI) shares are rallying 16.9% ahead of the open with Deckers Outdoor (DECK) up 4.5% after the S&P 500 announced Friday the two companies will join the blue-chip index later this month.\u00a0 They will replace Whirlpool (WHR) and Zions Bancorp (ZION) as of the market open on March 18.\u00a0 SMCI currently has a market cap of over $50 billion while DECK is valued at about $22 billion.\u00a0 JetBlue, Spirit Ditch Merger Agreement Spirit Airlines (SAVE) shares are plunging 19.7% in premarket trade after announcing it is ending its agreement to merge with JetBlue Airways (JBLU).\u00a0 JBLU shares are up 4.3%.\u00a0 The airlines have decided to ditch the deal after losing a federal antitrust lawsuit that challenged it in January.\u00a0 The companies appealed that decision soon after as required under the merger agreement but it was not expected to succeed.\u00a0 In a note to staff, JetBlue\u2019s CEO said the merger was, \u201ca bold and courageous plan intended to shake up the industry status quo, and we were right to compete with Frontier and go for an opportunity that would have supercharged our growth and provided more opportunities for crewmembers.\u201d She added, \u201cHowever, with the ruling from the federal court and the Department of Justice\u2019s continued opposition, the probability of getting the green light to move forward with the merger anytime soon is extremely low.\u201d Investment Firms Increase Macy\u2019s Buyout Offer Macy\u2019s (M) shares are jumping 14.2% ahead of the open after Arkhouse Management and Brigade Capital Management increased their buyout offer for the department store chain.\u00a0 The firms are now offering to acquire the M stock they do not already own for $24 per share vs the previous offer for $21 per share.\u00a0 That represents a premium of about 33% to the closing price of $18.01 per share on Friday and values Macy\u2019s at $6.6 billion.\u00a0 Arkhouse said, \u201cWe continue to offer the company an attractive alternative solution through a sale of the company at a substantial premium. This would provide Macy\u2019s stockholders with significant value and immediate liquidity.\u201d Macy\u2019s said, \u201cThe Macy\u2019s Inc Board will carefully review and evaluate the latest proposal.\u201d Bitcoin Tops $65,000 Bitcoin is starting the new week higher, inching closer to its all-time high.\u00a0 The cryptocurrency is currently up 4.1% at $65,334.82. It touched $65,658.10 earlier this morning, the highest level since November 2021.\u00a0 Bitcoin gained 21% last week, marking its best week in nearly a year.\u00a0 The coin hit an all-time high of $68,982.20 intraday in November 2021.\u00a0<\/p>\n","protected":false},"author":41,"featured_media":73907,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[739],"tags":[],"class_list":["post-73904","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-coffee-with-greta"],"_links":{"self":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/73904","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/users\/41"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/comments?post=73904"}],"version-history":[{"count":1,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/73904\/revisions"}],"predecessor-version":[{"id":73909,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/73904\/revisions\/73909"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/73907"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=73904"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=73904"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=73904"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}