⛔ This Retailer Just Said NO To...?

Good morning. US stock futures rose in Monday morning trading as market indices climb to new all-time highs, and Wall Street looks ahead to various economic indicators.

🤖 Retail rebuff: Macy’s says “No” to takeover offer

📝 Our report: Retail giant Macy's took a glance at Arkhouse Management Co. and Brigade Capital Management's proposal to steal the retail spotlight, but decided it needed a bit more sparkle. The company announced it wasn’t interested in a bid from the pair of suitors, stating the takeover offer lacked “compelling value”.  

 🔑 Key points:

• The investors made a $5.8 billion, or $21 a share, offer for the company last month, with Arkhouse threatening to take its offer to shareholders if the department store chain doesn’t step up negotiations.

• In a statement, Macy’s board questioned the information provided by the pair of companies, stating that it failed to address concerns over their ability to finance the transaction.

• Macy’s has struggled to compete as shopper preference has shifted away from department stores, with online retailers making inroads in key merchandise categories such as apparel and home goods.

💡 So what: The decision by Macy’s to reject the takeover bid from Arkhouse Management and Brigade Capital Management could stem from various factors, such as Macy's belief that the offered price undervalues the company, concerns about the terms and conditions of the deal, or a belief that Macy's can create more value by remaining independent. Rejecting a takeover offer allows Macy's to maintain control over its business and strategic direction.

Monday - US Leading Economic Indicators

Tuesday - No Major Economic News

Wednesday - No Major Economic News.

Thursday - US GDP Q4

Friday - Personal Income, Personal Spending

 📈 Investing legend Benjamin Graham shares his investing tips!

🏠 Everything you need to know about first-time homebuyer loans!

💳 Credit-building tips for GenZs

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🛬 Airlines appeal ruling to block merger

WHAT: JetBlue and Spirit Airlines are teaming up for the ultimate rematch after a federal judge played referee and called a timeout on their merger dreams. The appeal came after U.S. District Judge William Young in Boston sided with the U.S. Department of Justice in holding that JetBlue's planned $3.8 billion acquisition of ultra-low-cost carrier Spirit was anticompetitive and would harm consumers.

WHY: The appeal continues the court fight to keep the merger alive, a deal Spirit needs as it faces financial difficulties, including the grounding of numerous jets due to a powdered-metal issue in its geared turbofan (GTF) engine.

🤖 Musk quashes report of company funding secured for AI startup

WHAT: Elon Musk just did a little dance with rumors, setting the record straight that the artificial intelligence fairy didn't sprinkle $500 million on his AI startup, xAI. "This is simply not accurate," Musk said in a reply to a user post about a Bloomberg article on the fundraising on social media platform X.

WHY: Musk launched xAI in July last year in response to Big Tech's AI efforts, which he has criticized for excessive censorship and a lack of adequate safety measures. Last December, Musk said his artificial intelligence company was not raising funds, a day after the startup filed with the U.S. securities regulator to raise up to $1 billion in an equity offering.

🚙 Waymo pushes harder into Cali market

WHAT: Waymo, Alphabet's self-driving startup, has just tossed its hat into the ring, applying for a permit to let its driverless wonders roam the bustling streets of Los Angeles. A license would allow Waymo, which operates extensively in San Francisco, to fully operate its fleet in Los Angeles, California's largest city, where it is now testing rides, allowing new rides only by invitation.

WHY: Waymo said this month it would begin testing its fully autonomous passenger cars without a human driver on freeways in Phoenix, Arizona, where it now offers rides in the metropolitan area. The company also aims to operate in Austin, Texas.

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