The Simple Side's Morning Market Espresso
Monday, June 23: A shot of actionable financial news that doesn't break the bank.
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Index Futures Snapshot
Dow Futures: 42,539.00 (▲ 24.00 | +0.06%)
Fair Value: 42,507.85
Implied Open: ▲ 31.15
S&P 500 Futures: 6,026.75 (▲ 8.75 | +0.15%)
Fair Value: 6,018.19
Implied Open: ▲ 8.56
Nasdaq Futures: 21,885.00 (▲ 40.25 | +0.18%)
Fair Value: 21,840.59
Implied Open: ▲ 44.41
Major indices are looking at a positive open as headlines around fintech, crypto adoption, and AI partnerships continue to drive sentiment.
Top News & Movers
Wolfspeed (WOLF)
Filed for U.S. bankruptcy in a restructuring plan that will reduce debt by $4.6B (70%) and cut annual cash interest payments by 60%. Expected to emerge by Q3 2025.
Fiserv (FI)
Shares rose 7.1% premarket on news it will launch a stablecoin platform, connecting 10,000+ institutions and millions of merchants. Circle expected to partner.
Walmart (WMT)-backed PhonePe
Prepping for a $1.5B IPO in India at a $15B valuation. Filing expected in August.
Montage Technology
Planning a $1B IPO in Hong Kong to expand AI and cloud chip business beyond Shanghai listing.
Prosus (PROSY)
Missed estimates on EPS and revenue but doubled dividend to €0.20. Ecommerce revenue and adjusted EBIT showed strength.
Shift4 (FOUR)
Acquired Smartpay for NZ$296.4M (~$180M), a 46.5% premium. Expands distribution in Australia and New Zealand.
STERIS (STE)
Won a $450M U.S. Navy contract extension through 2030 for patient monitoring and capital equipment.
Ares Management (ARES)
Investing €2B for 20% of Plenitude, an energy transition firm. The deal values Plenitude at €12B+.
Sequans (SQNS)
Announced a $384M investment to launch a Bitcoin treasury initiative with Swan Bitcoin. Shares popped 17% premarket.
Estée Lauder (EL)
Upgraded to Buy at Deutsche Bank, which issued a Street-high $95 price target. Stock rose 2.4% premarket.
Li Auto (LI)
Shares jumped nearly 5% after filing for Li i6, a new 5-seat electric SUV launching in September.
American Healthcare REIT (AHTR)
Reinstated $0.25 dividend, payable July 18, signaling financial confidence.
Stellantis (STLA)
New CEO Antonio Filosa launched a leadership shake-up to streamline global operations.
Vertex (VRTX) & Ono Pharma
Signed exclusive deal to develop povetacicept in Japan/South Korea for B-cell mediated diseases.
Vision Marine (VMAR)
Acquired Florida-based Nautical Ventures to accelerate electric boat expansion.
HIVE Digital (HIVE)
Bought a 7.2MW data center in Toronto to support high-performance computing and AI ecosystem growth.
Galapagos (GLPGF)
Appointed Aaron Cox as CFO. He helped lead Horizon Therapeutics’ $28B Amgen buyout.
Hormel Foods (HRL)
Promoted John Ghingo to President and named Jeffrey Ettinger interim CEO amid strategic restructuring.
News Corp (NWSA)
Extended CEO Robert Thomson’s contract to 2030, citing record profitability under his leadership.
Regis (RGS)
Named Jim Lain interim CEO after Matthew Doctor’s departure. Lain has 10 years of tenure at Regis.
Fundamental & Technical Watchlist
Current Price: $163.38 | Change: +1.25%
Market Cap: $90.6B | Sector: Software
Technical Overview:
14-Day RSI: 41.33 – Nearing oversold territory
200-Day EMA: $187.50 – FI trades well below key trendlines
MACD: Below signal, bearish trend moderating
Recently bounced off long-term support near $160
Fundamental Note:
GF Score: 92. Circle stablecoin deal positions Fiserv as a key player in crypto infrastructure. Long-term growth tailwinds remain intact.
Range to Watch Today: $161.00 / $168.00
Breakout Target: $170.25
Short-Term Catalyst: Crypto narrative momentum
Current Price: $165.76 | Change: -0.94%
Market Cap: $36.2B | Sector: Asset Management
Technical Overview:
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