📈 Trump Media stock reacts to debate

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Happy Friday!

We've got a juicy edition today! Trump Media jumps nearly 7% after Biden's lackluster debate performance, while Nike shares plunge 12%, plus tons more.

Grab your iced latte and let's get into it! ☕️👇️

Markets

📈 S&P 500 looks to Sign Off on Stellar 15% First-Half Rise
The S&P 500 inched up by 0.1% on Thursday, a small gain in the grand scheme. With one trading day left in the first half of the year, the index is on track for a robust 15% increase since January 2024.

🇯🇵 Japan signals it may prop up yen after currency falls to 38-year low 
Japan may intervene to support the yen after it hit a 38-year low against the US dollar. Finance Minister Shunichi Suzuki stated on Thursday that authorities will act as necessary to protect the economy.

🇺🇸 Trump Media stock jumps as poll shows former President won the debate
Shares in Trump Media & Technology Group Corp surged in premarket trading after CNN's flash poll revealed that the Republican candidate outperformed President Joe Biden in Thursday's debate. The stock jumped 6.8% before the market opened on Friday.

🏦 VanEck Files for Solana ETF, SOL Rises 8% 
VanEck has filed to sell shares in the first Solana (SOL) exchange-traded fund (ETF) registered in the U.S. Following this announcement, SOL's price has surged by nearly 8% as only the third Cryptocurrency to have an ETF filing.

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EARNINGS

Nike Plunges 12%

Nike's stock stumbled hard in after-hours trading on Thursday following a disappointing earnings report and bleak forward guidance. Shares plunged over 12% ahead of Friday’s opening bell as investors grew anxious about the sportswear giant's declining sales. Nike projected a 10% drop in sales for the current quarter.

The company slashed its full-year guidance and warned of weak sales in China and inconsistent consumer trends worldwide. The anticipated 10% first-quarter slump significantly underperformed analysts' expectations of a 3.2% drop, according to LSEG.

Looking ahead, Nike now predicts fiscal 2025 sales to decrease by mid-single digits, a stark contrast to analysts' forecasts of a 0.9% increase. Previously, Nike had expected sales growth.

Despite efforts to reignite growth, this year has been underwhelming for Nike’s stock. Morningstar equity analyst David Swartz remarked to Yahoo Finance that the sales numbers were "pretty weak," highlighting the main concern from the earnings release.

With these projections, investors fear that Nike might be slowly losing its once-dominant market position.

ACQUISITIONS

Nokia Steps Into the AI Arena

Nokia is set to acquire Infinera Corp in a deal valued at $2.3 billion, aiming to strengthen its optical network business, particularly in North America. Announced on Thursday, the acquisition price of $6.65 per share. Following the news, Infinera's shares surged nearly 22%.

Key details of the acquisition:

• Deal Value: $2.3 billion

• Price per Share: $6.65 (26.4% premium)

• Payment Structure: At least 70% in cash

This acquisition will propel Nokia to the second-largest vendor position in the optical networking market, securing a 20% market share, just behind Huawei. This move enables Nokia to cater more effectively to tech giants like Amazon, Alphabet, and Microsoft, who are heavily investing in new data centers to support the AI boom.

CEO Pekka Lundmark highlighted the strategic importance of the acquisition, stating, "AI is driving significant investments in data centres ... one of the key attractions of this acquisition is that it significantly increases our exposure to data centres."

Optical transport networks, which utilize glass cables to transmit digital signals, are critical for data centers as they enable seamless communication between electronic devices.

Last Editions Results

What’s Your Take on the Volkswagen-Rivian Partnership?

🟩🟩🟩🟩🟩🟩 🚀 This will revolutionize the EV market!

🟨🟨🟨⬜️⬜️⬜️ 🤔 Not convinced it will have a major impact...

🟨🟨🟨⬜️⬜️⬜️ 🙅‍♂️ Doesn't matter to my investing strategy.

NK - 🤔 Not Convinced - “While this joint venture will benefit both companies and a profit will be made. The EV market is already saturated and development is needed on a larger scale. The dependancy on specific natural resources for EV can significantly impact the growth potential in the short term 3-5 year planning stage.”

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