The Simple Side's Morning Market Espresso
Wednesday, July 9: A shot of actionable financial news that doesn't break the bank.
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Market Overview
S&P 500: 6,285.75 (▲ 0.22%)
Dow: 44,640.00 (▲ 0.29%)
Nasdaq: 22,937.75 (▲ 0.18%)
Key Indicators
10-Year Treasury: 4.42% (▲ 1.05%)
VIX: 16.81 (▼ 4.22%)
Gold: $3,302.20 (▼ 0.22%)
Oil: $68.39 (▲ 0.16%)
Bitcoin: $108,964.83 (▲ 0.73%)
Top News & Movers
Merck (MRK)
Announced a $10 billion acquisition of Verona Pharma (VRNA) at $107 per ADS—a 23% premium. The deal expands Merck's chronic respiratory treatment pipeline and is expected to close in Q4.
Jeff Bezos / Amazon (AMZN)
Sold $666M in Amazon stock as part of a planned divestiture. Despite the sale, Bezos retains nearly $200B worth of AMZN shares.
Starbucks (SBUX)
Valuation of its China business hits $10B amid bidding from KKR (KKR) and Centurium Capital. China accounts for 8% of global revenue but faces increased competition.
Aehr Test Systems (AEHR)
AI chip burn-in services now make up 35% of revenue. Despite a drop in total sales, management sees long-term demand growth in semiconductor testing.
Eli Lilly (LLY)
Got FDA approval for a new label on Alzheimer’s drug Kisunla—offering a dose schedule that cuts adverse events by 41%.
Johnson & Johnson (JNJ)
Secured a U.S. court win protecting Invega Sustenna from generic competition, defending over $3B in revenue.
Cogent Biosciences (COGT)
Raised $200M via public offering to fund development and commercialization of bezuclastinib.
Kura Sushi (KRUS)
Guided for 20% unit growth and $281M in FY25 sales, fueled by new marketing campaigns and branded IP.
Apple (AAPL)
Reportedly in talks to acquire U.S. Formula 1 broadcast rights as ESPN’s deal expires after the 2025 season.
Renault (RNSDF)
Searching for interim CEO as Luca de Meo exits to run Kering. Internal candidates are being evaluated.
Gray Media (GTN)
Priced a $900M note offering at 9.625% to refinance existing debt and support operations.
Birks Group (BGI)
Acquired European Boutique for C$9M and signed a licensing deal for Diamonds Direct®, supported by a C$13.5M term loan.
Alvotech (ALVO)
Acquired Ivers-Lee Group to improve assembly and packaging capacity ahead of new biosimilar launches.
Azelis (AZLGF)
Bought an Italian raw materials distributor to broaden its chemical product reach in southern Europe.
Fundamental & Technical Watchlist
Price: $210.01 | Sector: Hardware | Market Cap: $3.1T
Technical View:
RSI(14): 60.08 – Neutral with bullish lean
Sitting near 20-day and 50-day EMAs, showing balanced momentum
Support: $206 | Resistance: $214
MACD flat – watch for bullish crossover confirmation
Daily Target: If $211 breaks with volume, potential for $214 retest
Fundamental View:
GF Score of 95. Apple is leveraging brand power and ecosystem growth. Its interest in F1 media rights may add to its expanding service revenue.
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