Public Markets 8-Hour Briefing
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The S&P 500 dropped 1.2% in its worst week since June, reflecting broader market volatility. Entrata is working with Goldman Sachs and JPMorgan on an IPO, signaling continued M&A activity. Natural gas prices braced for a volatile Sunday open amid a blizzard warning, as reported by Investing.com News.
Corporate Moves & Legal
Centerview settled a lawsuit over analyst working hours, resolving a case that examined junior bankers' grueling schedules. Latham & Watkins poached two partners from rival Wachtell Lipton, highlighting intense legal talent wars, as noted in Financial Times Companies. Honeywell may walk away from its Johnson Matthey catalyst deal, according to Bloomberg Markets, while Bloomberg Markets reported similar developments.
Regulatory & Geopolitical
Trump demanded Netflix remove former Obama official Susan Rice from its board, escalating the streamer's bid for Warner's studios and HBO, per Wall Street Journal US Business. The Justice Department probed Netflix's power over filmmakers in its $72 billion Warner deal review, as detailed in Bloomberg Markets. Trump also targeted Netflix amid a $108B bidding war for Warner Bros. Discovery, per Investing.com News.
Economic Trends
The "AI scare trade" gripped US markets, with investors selling software firms over concerns about AI's impact, as Bloomberg Markets reported. The Biggest New Fans of 401(k)s Are Small Businesses gained access to retirement plans through pooled employer plans (PEPs), per Wall Street Journal Markets. Germany's recovery hung in the balance, with data expected to reveal if tariffs hampered its growth, per Bloomberg Markets.
Market Reactions
Crypto held steady amid inflation and geopolitical risks, per Investing.com News. Riskiest CLO Funds flashed warning signs as default fears spread, per Bloomberg Markets. JPMorgan closed Trump accounts following the Jan. 6 attack, per Investing.com News.