🏢 Is A WeWork Revival About To Happen?

Good morning. US stock futures rose in Tuesday morning trading as investors awaited the release of more economic data.

🏢 WeWork co-founder offers $500 million buyout offer  

📝 Our report: Adam Neumann, the mastermind behind WeWork's rollercoaster saga, is throwing his hat back in the ring! Rumor has it he's putting up a cool $500 million to snatch back the reins of the once high-flying, now bankruptcy-battered company.  

 🔑 Key points:

• Neumann, previously WeWork’s chief executive officer, and other investors including Dan Loeb’s Third Point were exploring an offer to buy WeWork out of bankruptcy, Bloomberg reported last month.

• According to the Wall Street Journal, a representative for Neumann’s real estate company, Flow, confirmed that a bid was submitted, saying it exceeded the amount of $500 million first reported by the Journal.

• WeWork said in an emailed statement that it remains focused on emerging from Chapter 11 bankruptcy protection in the second quarter as a “financially strong and profitable company.”

💡 So what: Adam Neumann's bid to buy back WeWork could potentially signal a significant shift in the company's direction. Given Neumann's history with WeWork, his return as an owner could bring about changes in leadership, strategy, and culture within the company. However, it's important to note that such a move could also face challenges and skepticism, considering the controversies surrounding Neumann's previous tenure at WeWork, including the company's failed IPO attempt and subsequent financial woes. Ultimately, the implications of Neumann's bid would depend on various factors, including the acceptance of his offer by relevant stakeholders and the execution of any potential restructuring plans.

Tuesday - Consumer Confidence

Wednesday - Fed Governor Christopher Waller Speaks

Thursday - US GDP

Friday - Fed Chair Jerome Powell Speaks

 📈These are the world’s most valuable companies

🧑‍💼 What are “ghost” jobs?

💳 Your guide to the most popular credit cards — and how to use them

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🛫 Boeing CEO announces departure plans

WHAT: Boeing's CEO, Dave Calhoun, is set to step down at the end of 2024, signaling a significant shake-up in the company's leadership. Boeing’s production problems have delayed deliveries of new planes to customers and hampered growth plans. CEOs of some of the company’s largest customers, including United Airlines, Southwest Airlines and American Airlines have publicly complained about the delays.

WHY: The departures come as airlines and regulators have been increasing calls for major changes at the company after a host of quality and manufacturing flaws on Boeing planes.

⚡ FDA proposes ban on shock devices

WHAT: Looks like the FDA is taking a stand against shocking behavior—literally! They're proposing to ban those electrical stimulation devices that claim to stop self-injury or aggressive acts. The health regulator said these devices present an unreasonable and substantial risk of illness or injury that cannot be corrected or eliminated through new or updated device labeling.

WHY: Electrical stimulation devices administer electrical shocks through electrodes attached to the skin to deter self-injurious or aggressive behavior. This is the second time the FDA has proposed a ban of these devices. Its first ban in 2020 was challenged in court and annulled, the agency said.

📱 Trump’s social media company hits public market

WHAT: Get ready to hit the digital streets because Trump Media & Technology Group, home to the Truth Social platform, is about to make its grand entrance onto the Nasdaq stock market. Shareholders of Digital World Acquisition Corp., a publicly traded shell company, approved a deal to merge with the Trump’s media business, paving the way for the company to go public.

WHY: Truth Social launched in February 2022, one year after Trump was banned from major social platforms including Facebook and X, formerly Twitter, following the Jan. 6 insurrection at the U.S. Capitol. He’s since been reinstated to both but has stuck with Truth Social.

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