Thu.Jul 27, 2023

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What Has Changed In Public Finance Since June 1st?

H. Friedman Search

There was nothing magical about June 1 st. It was just an ordinary day, and I’m not even sure what day of the week it was. However, something in the world of public finance changed. Firms were ready to move again. I had noticed a hiatus in the hiring process up until then. Firms were moving slower, and not as excited about the marketplace. Then that changed, and I am pleased to announce that even though the perception is that firms are not hiring in public finance – that is not the case.

Finance 246
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Upgrade acquires travel-focused BNPL startup Uplift for a song

TechCrunch: M&A

Upgrade, a provider of personal credit lines and other consumer financial products, today announced that it’s agreed to acquire Uplift, the buy now, pay later (BNPL) vendor, for $100 million in cash and stock. It’s likely not the exit Uplift was hoping for — and a sign of serious consolidation in the BNPL space, which just a few years ago was booming, buoyed by pandemic-era spending habits.

Finance 245
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In with the Old, Out with the New: DOJ and FTC Issue Much-Anticipated Draft Merger Guidelines

JD Supra: Mergers

On July 19, the Federal Trade Commission (“FTC”) and the Department of Justice (“DOJ”) (collectively, the “Agencies”) published Draft Merger Guidelines. The Draft Merger Guidelines, if adopted, would replace both the Agencies’ 2010 Horizontal Merger Guidelines and the DOJ’s 2020 Vertical Merger Guidelines (which were rescinded by the FTC in 2021).

Mergers 130
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Trending M&A: Acqui-Hires

Deal Lawyers

In an acqui-hire, the buyer is primarily interested in the skills and expertise of key employees of the target, and not necessarily its products/services or assets.

M&A 100
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15 Modern Use Cases for Enterprise Business Intelligence

Large enterprises face unique challenges in optimizing their Business Intelligence (BI) output due to the sheer scale and complexity of their operations. Unlike smaller organizations, where basic BI features and simple dashboards might suffice, enterprises must manage vast amounts of data from diverse sources. What are the top modern BI use cases for enterprise businesses to help you get a leg up on the competition?

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DAMITT Q2 2023: When Avoiding Settlements, Does Merger Enforcement Settle for Less?

JD Supra: Mergers

All significant U.S. merger investigations concluded in either a complaint or an abandoned transaction. Three of four quarters over the last year have now concluded without any consent agreements, demonstrating the agencies’ continued hostility to remedies and settlements short of litigation. With more than 90 percent of significant investigations ending in a complaint or an abandonment, these are uncharted waters from a settlement perspective.

Mergers 130
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Network Resilience: Defending against sophisticated attacks targeting network infrastructure

Cisco: M&A

Earlier this year, we wrote about how Cisco Talos is seeing an increase in the rate of high-sophistication attacks on network infrastructure.

More Trending

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Here are Thursday's biggest analyst calls: Apple, Rivian, Roku, Meta, Coinbase, Carvana, Boeing and more

CNBC: Investing

Here are Thursday's biggest calls on Wall Street.

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FTC, DOJ Issue Updated Merger Guidelines

JD Supra: Mergers

Last week, the U.S. Federal Trade Commission (FTC) and Department of Justice (DOJ) proposed 13 new federal guidelines for mergers and acquisitions—the first comprehensive update to the guidelines in over a decade and the latest installment in the federal government’s efforts to curb anti-competitive behavior, including the increasingly scrutinized behavior of actors in digital markets.

Mergers 130
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Barclays says to buy this satellite stock, seeing 29% upside ahead

CNBC: Investing

Barclays upgraded satellite communications company Iridium to overweight Thursday, seeing 29% upside for the stock.

Stock 98
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[Video] Private Equity VS Real Estate Transactions | #6 What’s the Best Order to Sell?

JD Supra: Mergers

The million-dollar question is, which came first, the chicken or the egg? The practice sale or the real estate sale? An investment banker and a healthcare real estate advisor can agree that the most important thing a seller can do is plan ahead and be prepared for both types of transactions. Watch the final video in the series to learn how to take a deliberate approach to properly set up your assets, practice and real estate, to maximize their value in either scenario.

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Top 3 Banking Secrets to Stay Relevant with Gen Z Consumers

Speaker: Brian Muse-McKenney, Chief Revenue Officer & Matt Simester, Cards and Payments Expert

In today’s world of social media, dating apps, and remote work, businesses risk becoming irrelevant (or getting "ghosted") if they fail to meet the evolving needs of Gen Z consumers. Credit cards with flexible payment options, especially for young adults with little-to-no credit history, are a particularly important and valuable solution for this generation.

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This stock could benefit from a Mexican steel tariff, Morgan Stanley says

CNBC: Investing

The firm said the company could be helped if the U.S. adds a fee to steel imports from Mexico.

Stock 98
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Letters of Intent – Negotiating the Framework of Your Transaction

JD Supra: Mergers

In our last installment, we discussed some of the initial steps involved in the process of selling a dental practice, including preparing your practice for sale and finding a potential suitor. Specifically, we described ways in which sellers can find potential buyers and work with advisors and brokers to evaluate the best fit. In this installment, we will be focusing on letters of intent which typically come after you have found a potential suitor.

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This under-the-radar Nvidia derivative play is up nearly 60% this week

CNBC: Investing

Investors on the hunt for under-the-radar ways to play the booming artificial intelligence theme may want to take a look at this Nvidia derivative

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Phantom Equity to the Rescue

JD Supra: Mergers

A Summary of HControl Holdings LLC, et al. v. Antin Infrastructure Partners. Defined terms are the battlefield for lawyers. Some terms are well trodden, while others are not. A recent case in the Delaware Court of Chancery underscores that even ostensibly innocuous terms can pack a punch.

Equities 130
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Enhance Customer Value: Unleash Your Data’s Potential

The complexity of financial data, the need for real-time insight, and the demand for user-friendly visualizations can seem daunting when it comes to analytics - but there is an easier way. With Logi Symphony, we aim to turn these challenges into opportunities. Our platform empowers you to seamlessly integrate advanced data analytics, generative AI, data visualization, and pixel-perfect reporting into your applications, transforming raw data into actionable insights.

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Private equity giant KKR's antidote to worker discontent — employee stock ownership programs

CNBC: Investing

Pete Stavros, co-head of global private equity at KKR, is a key champion of instilling employee stock ownership programs in all the companies the firm buys.

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FTC and DOJ Propose Major Overhaul of Merger Guidelines

JD Supra: Mergers

On July 19, 2023, the Federal Trade Commission (FTC) and the Department of Justice Antitrust Division (DOJ) (collectively, the Agencies) issued revised Merger Guidelines (Proposed Guidelines) that if adopted would lead to increased antitrust scrutiny of proposed transactions. The Proposed Guidelines contain significant changes from the current version of the Guidelines, which were issued in 2010, and follow on the heels of the Agencies' June 29, 2023 rulemaking which proposes sweeping changes to

Mergers 130
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Broadcom, Lowe's and more: CNBC's 'Halftime Report' traders answer your questions

CNBC: Investing

"Ask Halftime" traders answer your questions about individual stocks and exchange-traded funds.

Funds 98
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Sabadell doubles Q2 net profit, lifts guidance for 2023

Global Banking & Finance

Sabadell doubles Q2 net profit, lifts guidance for 2023 By Jesús Aguado MADRID (Reuters) -Higher margins helped Spain’s Sabadell double net profit in the second quarter, beating market expectations and prompting the bank to lift its guidance for overall lending income and profitability in 2023.

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Predictions You Can Rely On: How Data Drives Successful Financial Forecasting

Speaker: Robbie Bhathal, Founder & CEO, and Matthew Acalin, Head of Credit Intelligence

In today's volatile financial environment, how confident are you in your company’s financial forecasting? To get the most accurate cash predictions that will lead to long-term financial survival, real-time data is critical. Innovative cash management strategies can lead to better credit opportunities, more sustainable growth, and long-term financial prosperity.

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This under-the-radar biotech could be the next way to play the obesity drug boom

CNBC: Investing

Piper Sandler initiated the stock at overweight and set a $58 price target, which implies nearly 64% upside.

Stock 98
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Cisco Catalyst SD-WAN is Integrated with Microsoft Sentinel

Cisco: M&A

The momentum of the Cisco and Microsoft collaboration only continues to increase.

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Wall Street analysts become even more bullish on Meta after its latest earnings report

CNBC: Investing

Analysts on some of Wall Street's biggest firms raised their price targets on Meta shares.

IT 98
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E.C.B. Raises Rates Again, Citing ‘Too High’ Inflation

The New York Times: Banking

“We have an open mind,” the bank’s president said after raising interest rates for a ninth consecutive time.

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Deliver Mission Critical Insights in Real Time with Data & Analytics

In the fast-moving manufacturing sector, delivering mission-critical data insights to empower your end users or customers can be a challenge. Traditional BI tools can be cumbersome and difficult to integrate - but it doesn't have to be this way. Logi Symphony offers a powerful and user-friendly solution, allowing you to seamlessly embed self-service analytics, generative AI, data visualization, and pixel-perfect reporting directly into your applications.

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Sell Carvana after the stock's monster move this year, Morgan Stanley says

CNBC: Investing

Analyst Adam Jonas downgraded shares to underweight from equal weight in a Wednesday note.

Stock 98
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Mediobanca to launch new $223 million buyback after record year

Global Banking & Finance

Mediobanca to launch new $223 million buyback after record year MILAN (Reuters) – Italy’s Mediobanca said on Thursday it would buy back its own shares for around 200 million euros ($223 million) in its new fiscal year after closing the previous one with record revenues and profits.

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Bill Miller, who once beat the market for 15 straight years, redefines value investing

CNBC: Investing

Miller, a value investor known for once beating the market for 15 years in a row, is also well recognized as an early investor in bitcoin and Amazon.

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BNP Paribas reports overall revenue increase in Q2, despite slowdown in FICC

The TRADE

BNP Paribas saw a 3.3% increase in its overall revenue in the second quarter of 2023 compared to Q2 2022, despite a dip in its corporate and institutional performance and global markets results. Revenue for the corporate and institutional banking area were down 2.3% overall this quarter compared to Q2 2022, with a noted decrease in fixed income currencies and commodities (FICC) revenues attributed to “the normalisation of the activity in a less buoyant environment, particularly in fixed-income a

Bank 98
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Using Data & Analytics for Improving Healthcare Innovation and Outcomes

In the rapidly evolving healthcare industry, delivering data insights to end users or customers can be a significant challenge for product managers, product owners, and application team developers. The complexity of healthcare data, the need for real-time analytics, and the demand for user-friendly interfaces can often seem overwhelming. But with Logi Symphony, these challenges become opportunities.

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With rate increases, private equity loses some appetite for acquisitions

Private Equity Info

The number of private equity platform acquisitions and add-on acquisitions dropped significantly in 2023, showing the broad industry impact of recent Federal Reserve rate increases and other macroeconomic trends.

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EDF swings to profit thanks to price increases

Global Banking & Finance

EDF swings to profit thanks to price increases PARIS (Reuters) – French nuclear power giant EDF swung to profit in the first half of the year, rebounding from a record loss in 2022 thanks to higher electricity prices and nuclear reactor output. Net income was 5.8 billion euros ($6.

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Creating Economic Impact Through Digital Innovation and Industry Collaboration

Cisco: M&A

Visiting Scandinavia and many of its institutions is like opening a window into the future, particularly when it relates to sustainability, energy, healthcare, digital innovation and start-ups.

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Reels, ads and cost cutting propel Meta's stock to 17-month high. How the pros are playing it

CNBC: Investing

Pros on CNBC discussed Meta after the company beat Q2 earnings and revenue estimates, hitting levels not seen since early last year.

IT 98
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Navigating the Future: Generative AI, Application Analytics, and Data

Generative AI is upending the way product developers & end-users alike are interacting with data. Despite the potential of AI, many are left with questions about the future of product development: How will AI impact my business and contribute to its success? What can product managers and developers expect in the future with the widespread adoption of AI?