Business and Finance News - 10.10.24

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!

Shares of 7-Eleven's owner, Seven & i Holdings, rose after receiving a new takeover offer from Canadian rival Alimentation Couche-Tard, reportedly valuing the firm at over $47 billion, about 20% higher than a previous bid. Seven & i confirmed the approach but has not engaged in discussions since the offer. (BBC)

*7-Eleven (SVNDY) - 7-Eleven, a subsidiary of Seven & I Holdings Co., Ltd., is a global chain of convenience stores that offers a wide range of products, including snacks, beverages, groceries, and basic household items. Known for its 24-hour service, the company provides quick and easy access to essentials for customers.

Boeing withdrew its latest offer to striking machinists, including a 30% pay raise, after negotiations broke down, citing that further talks "do not make sense." The strike, now in its fourth week with 33,000 workers involved, is expected to cost Boeing around $50 million in daily cash burn and impact GDP growth. (Quartz)

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

CVS and UnitedHealth Group have requested that FTC Chair Lina Khan and two other commissioners recuse themselves from the agency’s lawsuit, accusing them of bias in a case regarding inflated insulin prices. The companies argue the commissioners have made prejudgments against pharmacy benefit managers, citing past public statements critical of their practices. (Quartz)

*CVS (CVS) - CVS Health is a healthcare company that operates retail pharmacy chains, including CVS Pharmacy, and provides healthcare services like prescription drug coverage, walk-in medical clinics, and telehealth.

*UnitedHealth Group (UNH) - UnitedHealth Group is a diversified health care company that provides health insurance and related services through its divisions, UnitedHealthcare and Optum.

Disneyland is raising prices on certain tickets, with demand-based tiers increasing between $7 and $12, while the base entry price remains at $104. Additionally, the Magic Key annual pass prices will rise between 6% and 20%, depending on the pass type, with increases ranging from $100 to $125. (CNBC)

*Disneyland (DIS) - Disneyland is a theme park and resort that offers a variety of entertainment experiences, including rides, attractions, shows, and character meet-and-greets, designed to bring Disney's stories and characters to life.

Rio Tinto announced it will acquire U.S. lithium producer Arcadium for $6.7 billion in an all-cash deal, offering $5.85 per share, a 90% premium to Arcadium’s October 4 closing price. The acquisition will position Rio Tinto as a major player in the lithium market, essential for the global energy transition. (CNBC)

*Arcadium (ALTM) - Arcadium Lithium is a leading global producer of lithium chemicals. The company focuses on producing lithium hydroxide and lithium carbonate, key components for electric vehicle batteries and energy storage systems.

*Rio Tinto (RIO) - Rio Tinto is a global mining company that produces essential minerals and metals such as iron ore, aluminum, copper, and diamonds.

Here’s how the major indexes did yesterday:

• Dow Jones Industrial Average: 42,512.00 +431.63 (+1.03%)

• S&P 500: 5,792.04 +40.91 (+0.71%)

• Nasdaq Composite: 18,291.62 +108.70 (+0.60%)

• Russell 2000: 2,200.59 +5.60 (+0.26%)

Here’s how leading market ETFs did yesterday:

• SPDR S&P 500 ETF Trust (SPY): 577.14 +3.97 (+0.69%)

• iShares Core S&P 500 ETF (IVV): 579.85 +3.91 (+0.68%)

• Invesco QQQ Trust (QQQ): 493.15 +3.85 (+0.79%)

• Vanguard S&P 500 ETF (VOO): 530.45 +3.60 (+0.68%)

• Vanguard Total Stock Market ETF (VTI): 284.50 +1.97 (+0.70%)

Here’s how The Magnificent Seven did yesterday:

• Apple (AAPL) [3.52T]: 229.54 +3.77 (+1.67%)

• Nvidia (NVDA) [3.268T]: 132.65 -0.24 (-0.18%)

• Microsoft (MSFT) [3.103T]: 417.46 +2.75 (+0.66%)

• Alphabet (GOOGL) [2.02T]: 161.86 -2.52 (-1.53%)

• Amazon (AMZN) [1.927T]: 185.17 +2.45 (+1.34%)

• Meta Platforms (META) [1.498T]: 590.51 -2.38 (-0.40%)

• Tesla (TSLA) [768.75B]: 241.05 -3.45 (-1.41%)

Here’s how the major cryptocurrencies did yesterday:

• Bitcoin (BTC): $60,885.95 (9:45PM PST on 10/9/24)

• Ethereum (ETH): $2,396.05 (9:45PM PST on 10/9/24)

• Solano (SOL):$140.04 (9:45PM PST on 10/9/24)