MARKET RECAP → Stocks closed modestly higher on Tuesday as investors continue to cling on to record highs and digest the latest batch of company earnings. But the lingering question remains: when will the Fed cut interest rates, and how low will they go?
NEUMANN’S COMEBACK → ? Adam Neumann’s plot twist: from ousted CEO to potential savior, eyeing a WeWork buyback amidst bankruptcy drama—because who doesn’t love a good redemption arc in the corporate world?
PALANTIR SOARS→ ? Palantir’s stock rockets 30%+ after smashing Q4 expectations with its AI charm offensive, turning Wall Street skeptics into cautious cheerleaders.
DOCUSIGN DOWNSIZES→ ? In a bid for “efficiency,” DocuSign cuts 6% of its crew (440 jobs), sails through choppy market seas with a restructuring plan, and eyes a brighter horizon despite stalled acquisition talks—because sometimes, you have to trim the sails to catch the wind. |
|
|
| Sean Horgan Head of Investor Relations @ MoneyLion
$shorgan |
|
|
? Adam Neumann, ousted WeWork founder, is making moves to reacquire the now-bankrupt company he launched in 2010. Alongside his startup Flow and Dan Loeb’s Third Point fund, Neumann has shown “sincere interest” since December 2023 in buying WeWork and its leases or providing debtor-in-possession financing, despite being rebuffed in earlier attempts to secure up to $1 billion in financing in October 2022. ? WeWork’s advisors initially resisted Neumann’s overtures, suggesting instead that he provide debtor-in-possession financing rather than acquiring the company outright. This resistance highlights the complex dynamics between WeWork’s current leadership and Neumann, who left the company amid controversy over its governance and valuation in 2019.
? WeWork filed for bankruptcy in November 2023, marking a significant downturn for the company that had once been a darling of the tech and real estate sectors. Neumann’s attempt to buy back the company signals a potential return to the fray, despite the previous turmoil and investor skepticism that led to his departure. |
| |
|
? Palantir’s shares surged over 30% following a fourth-quarter earnings report that exceeded revenue expectations and showcased a robust demand for its AI products. The company reported a 20% revenue increase to $608.4 million, beating Wall Street’s forecast, and projected a slightly lower than expected revenue range for the next quarter, hinting at cautious optimism.
? Analysts have warmed up to Palantir, with Citi upgrading the stock to neutral from sell and doubling their target price, citing “breakthrough momentum” in commercial sectors. Despite some reservations about conservative guidance, the potential for new AI monetization and stronger U.S. government contracts in 2024 has balanced the outlook.
? The AI Platform (AIP) is hitting its stride, impressing analysts at Jefferies who now see Palantir at an “inflection point” due to the AIP’s rapid scaling and impact. Bank of America analysts also remain bullish, highlighting significant opportunities for Palantir’s software in government applications and the transformative potential of AI in data-driven decision-making. |
|
|
|
? DocuSign announced a 6% workforce reduction, impacting around 440 jobs, primarily within its sales and marketing teams. This move is part of a broader restructuring plan aimed at enhancing the company’s financial and operational efficiency. The layoffs come as the company seeks to navigate a challenging market landscape, with shares falling more than 6% following the announcement.
? The restructuring is expected to be largely complete by the end of the second fiscal quarter of 2025, with DocuSign expressing confidence in meeting or exceeding its fourth-quarter and fiscal 2024 guidance. This strategic pivot underscores the company’s commitment to long-term growth and stability, even as it faces immediate hurdles.
? Despite recent layoffs, DocuSign’s stock had previously surged on acquisition interest from Bain Capital and Hellman & Friedman. However, negotiations have reportedly stalled due to disagreements over the deal price, highlighting the volatile nature of the tech sector and the challenges companies face in securing stable futures. |
| |
|
EY announces alliance with MoneyLion to help banks accelerate their digital transformation and extend financial services (ML) Country singer Toby Keith dies at age 62 (CNBC)
Amid rocky FAFSA rollout, Education Department looks to smooth the so-far bumpy debut — ‘too little, too late,’ expert says (CNBC)
Nikki Haley requests Secret Service protection, citing rise in threats (CNBC) Honda recalls 750,000 U.S. vehicles over air bag defect (CNBC) Taylor Swift has bad blood with student tracking celebrity flights via public info (The Verge)
Snap plunges 30% on revenue miss and light guidance, as Middle East conflict creates ‘headwind’ (CNBC) | And if you want more, be sure to check out the MoneyLion blog for tips, hacks and all things money. (MoneyLife) |
|
|
Our Favorite Tools & Resources |
|
|
The Bull vs. Bear Merchandise Promotion is a limited time campaign that begins on December 1, 2023 at 12:00 AM ET and ends on the date that there are no more Rewards. This Promotion is available to any registered MoneyLion user who is a legal resident of the 50 United States or the District of Columbia and who has reached the age of majority in their state as of the beginning of the Promotional Period. See terms and conditions here.
|
|
|
|
