Business and Finance News - 11.13.24

A joint message from Skool Projekt and beehiiv

I was able to start my business because of beehiiv! It started as a simple newsletter and has grown into a small digital media company.

Ever thought about launching your own newsletter? Look no further than beehiiv—the ultimate platform for creating, growing, and monetizing your audience effortlessly! Whether you're a beginner or already have a thriving community, beehiiv equips you with everything you need to send stunning emails, track your progress, and build a loyal following.

Ready to get started? Sign up using my link to get 20% off for your first three months and take your newsletter game to the next level!

Elliott Management, holding a stake worth over $5 billion in Honeywell, is advocating for the company to split its Aerospace and Automation businesses, suggesting a potential 75% shareholder gain within two years. The activist investor believes Honeywell's current conglomerate structure has hindered its performance and argues that separating the businesses could unlock significant value. (CNBC)

*Elliott Management - Elliott Management is a global investment firm specializing in alternative investments, including hedge funds and private equity, with a focus on activist investing to influence corporate strategy and governance.

*Honeywell (HON) - Honeywell International Inc. is a multinational conglomerate that provides a wide range of products and services in aerospace, building technologies, performance materials, and safety solutions.

Meta announced it will offer ad-free subscriptions for Facebook and Instagram users in Europe at reduced rates and introduce a free option with less personalized ads in response to EU regulatory pressure. Meta maintains that personalized ads are crucial for sustaining free services but is adjusting its approach to align with EU data restrictions. (Axios)

*Meta Platforms (META) - Meta, formerly known as Facebook Inc., is a multinational technology conglomerate that operates a variety of social media platforms and technology products.

Shopify shares jumped 25% after the company reported higher-than-expected Q3 revenue of $2.16 billion and projected strong growth for the holiday quarter. Shopify attributed its success to an increase in large customer sign-ups, with GMV rising 24% year over year to $69.7 billion. (CNBC)

*Shopify (SHOP) - Shopify is a comprehensive e-commerce platform that enables individuals and businesses to create, manage, and grow their own online stores.

Boeing will provide Spirit AeroSystems with up to $350 million in advance payments to help the cash-strapped supplier manage financial challenges and maintain production rates. Spirit Aero, facing high inventory and increased costs from reduced Boeing deliveries, is expected to repay the funds by 2026. (Reuters)

*Boeing (BA) - Boeing is a leading American multinational corporation that designs, manufactures, and sells airplanes, rotorcraft, rockets, satellites, telecommunications equipment, and missiles worldwide.

*Spirit AeroSystems (SPR) - Spirit AeroSystems, Inc. is one of the largest and most prominent manufacturers of aerostructures for both commercial and defense aircraft.

Waymo has opened its fully autonomous robotaxi service to all users in Los Angeles through the Waymo One app, covering an 80-square-mile area including Hollywood and Westwood. The expansion follows a recent $5.6 billion investment from Alphabet, as Waymo competes with human-driven ride services like Uber and Lyft. (The Verge)

*Waymo (GOOGL) - Waymo is an autonomous driving technology company and a subsidiary of Alphabet Inc. It focuses on developing and deploying self-driving vehicle technology.

Here’s how the major indexes did yesterday:

• Dow Jones Industrial Average: 43,910.98 -382.15 (-0.86%)

• S&P 500: 5,983.99 -17.36 (-0.29%)

• Nasdaq Composite: 19,281.40 -17.36 (-0.09%)

• Russell 2000: 2,391.85 -43.13 (-1.77%)

Here’s how leading market ETFs did yesterday:

• SPDR S&P 500 ETF Trust (SPY): 596.90 -1.86 (-0.31%)

• iShares Core S&P 500 ETF (IVV): 599.75 -1.84 (-0.31%)

• Invesco QQQ Trust (QQQ): 512.91 -0.93 (-0.18%)

• Vanguard S&P 500 ETF (VOO): 548.75 -1.65 (-0.30%)

• Vanguard Total Stock Market ETF (VTI): 296.37 -1.17 (-0.39%)

Here’s how The Magnificent Seven did yesterday:

• Nvidia (NVDA) [3.638T]: 148.29 +3.03 (+2.09%)

• Apple (AAPL) [3.389T]: 224.23 UNCH (UNCH)

• Microsoft (MSFT) [3.145T]: 423.03 +5.02 (+1.20%)

• Alphabet (GOOGL) [2.223T]: 181.62 +1.27 (+0.70%)

• Amazon (AMZN) [2.197T]: 208.91 +2.07 (+1.00%)

• Meta Platforms (META) [1.476T]: 584.82 +1.65 (+0.28%)

• Tesla (TSLA) [1.054]: 328.49 -21.51 (-6.15%)

Here’s how the major cryptocurrencies did yesterday:

• Bitcoin (BTC): $88,474.63 (3:15PM PST on 11/12/24)

• Ethereum (ETH): $3,281.10 (3:15PM PST on 11/12/24)

• Solano (SOL): $214.61 (3:15PM PST on 11/12/24)