Morning News Call

TOP NEWS

• US judge temporarily blocks Pentagon's blacklisting of Anthropic.
• Oaktree private credit fund faced a surge in redemptions.
• Pernod Ricard tie-up with Jack Daniel's maker Brown-Forman would test family influence.
• China's top chipmaker (SMIC) supplied chipmaking tech to Iran military, US officials say.
• Netflix raises subscription prices across all plans in the U.S.

BEFORE THE BELL

• U.S. stock index futures: Muted as investors assessed Middle East de-escalation.
• Dollar: Headed toward strongest monthly gain in nearly a year.
• 10-year U.S. Treasury: Yields rose to highest level since July.
• Oil: Prices edged up but on track for weekly decline.
• Gold: Prices rose but headed for fourth straight weekly decline due to inflation concerns.
• European shares: Fell in a broad selloff due to Middle East war and inflation risks.
• Nikkei: Ended lower.
• Chinese stocks: Closed higher after strong industrial profit data.

STOCKS TO WATCH

• Brown-Forman Corp & Pernod Ricard SA: Pernod Ricard shares recovered after confirming tie-up talks with Brown-Forman; analysts see strategic sense but question value creation.
• GlobalFoundries Inc: Sued Tower Semiconductor for patent infringement related to chip manufacturing.
• JPMorgan Chase & Co: Filed for a private credit fund with quarterly redemption options amid industry withdrawal pressures.
• Meta Platforms Inc, Nvidia Corp & Roblox Corp: Sued by a digital artist for alleged misuse of 3D models to train AI systems.
• Netflix Inc: Increased prices on all U.S. subscription plans.
• Novartis AG: To acquire Excellergy for up to $2 billion, its second major acquisition in weeks, to strengthen immunology presence.
• Rivian Automotive Inc: Volkswagen's software partnership with Rivian passed a key milestone, advancing Rivian's funding.
• Super Micro Computer Inc: Chinese universities, including military-linked ones, bought servers with restricted AI chips.
• Unilever PLC: Sued for defamation by former Ben & Jerry's board chair over her support for Palestinian rights.
• United Airlines Holdings Inc: FAA investigating a close call between a United jet and an Army Black Hawk helicopter.
• Venture Global Inc: Reached agreement with Edison to settle a long-running LNG arbitration dispute.

INSIGHT

• Traders face sleepless nights and market volatility due to the Iran war.

ANALYSTS' RECOMMENDATION

• Cintas Corp: Jefferies cuts target price to $200 from $210, citing weaker profit margins.
• Venture Global Inc: JPMorgan raises target price to $19 from $11, citing updated commodity assumptions and new contracts.