Wall Street Breakfast

Biden poised to block US Steel deal: report

Biden to block U.S. Steel's sale to Japan's Nippon - reports. (00:26) Gannett (GCI), Reuters (TRI) to bundle content for US regional, local outlets. (01:32) Samsung smart refrigerators can now order groceries through Instacart (CART). (02:35)

Episode transcripts seekingalpha.com/wsb.

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Duration:: 5m
Broadcast on:: 03 Jan 2025
Audio Format:: other

Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. Good morning! Today is Friday, January 3rd. I'm Julie Morgan. What is the status of the U.S. Steel Deal? Gannett and Reuters are offering their services, and there's yet another way to make sure you never have to leave home to go grocery shopping again. President Biden is expected to block the U.S. Steel Nippon Steel Deal as early as today. The Washington Post first reported on the matter, citing two unnamed sources who did not have permission to speak on the topic. We told you last week here on Wall Street Breakfast that the Committee on Foreign Investment in the United States deadlocked on its review of the $14.1 billion acquisition, which referred the decision to President Biden. McSiphias warned that the acquisition of U.S. Steel could lead to a decline in domestic steel production that will pose a threat to the national security of the United States. This prompted Nippon Steel to propose allowing the U.S. government to veto any reduction, a U.S. Steel's production capacity and a last-ditch effort to save the proposed takeover by the Japanese company. However, the United Steel Workers Union fired back, saying the latest offer is a long shot that fails to commit to maintaining future production. Biden has maintained that U.S. Steel should remain domestically owned and operated. Gannett, the largest local newspaper operator in the U.S. and global newswire Reuters will launch a content bundle aimed at U.S. regional and local media outlets. The new bundle that will be available in Q1 will be sold by Reuters, and Gannett will get a slice of the sales revenue. The company said in a joint statement that customers will have access to national and international coverage, which will be combined with Gannett's national coverage from USA Today and its local news coverage from its more than 200 newspapers in the U.S. Reuters is a unit of Thomson Reuters. ticker symbol, T.R.I. Reimagine the way you invest with Seeking Alpha's virtual analyst reports, an AI-powered tool that consolidates and synthesizes crowd-sourced analysis and quant ratings from the Seeking Alpha platform. Find our virtual analyst reports at the top of any stock symbol page with a quant rating. It's where AI meets human ingenuity, and you get the best of both worlds with just one simple click. And the future is here. This tells me that we could all be the Jetsons. Samsung has made it even easier to replenish your refrigerator through a multi-year collaboration with Maple Bear, more commonly known as Instacart, by integrating Samsung's food recognition technology with Instacart's product matching capabilities. The collaboration will be available on 2025 Samsung bespoke refrigerator models with different types of screens and AI vision inside, which will enable consumers to not only manage their food inventory, but enable replenishment through Instacart directly from the refrigerator. The new functionality will also be available to existing AI family hub plus units through an over-the-network software update in 2025. See, I told you we're all the Jetsons, or we could be. Now let's take a look at what's trending on Seeking Alpha. Tesla's China sales hit a record high level in December. It's time for a data check. Pizza stocks often heat up when cold weather slams the U.S. and bulls versus bears. Is the Schwab U.S. dividend equity ETF a good investment? On our catalyst watch for the day, Mayor Tichomes will begin trading on a split-adjusted basis following the company's two-for-one stock split. And Nvidia and AMD could see some extra attention by investors looking to get ahead of keynote presentations by the company's CEOs at CES next week. Now, for a look at the markets today ahead of the opening bell, Dow S&P and NASDAQ features are in the green. Crude oil is down 0.4% at $72 a barrel. Bitcoin is down 0.2% at $96,000. In the world markets, the FTSE 100 is flat, and the DAX is down 0.6%. And the market in Japan is still closed for holiday. Supercom is on our list of the biggest movers of the day pre-market. SPCB is up 8% after surging 59% in the previous session. The momentum follows the announcement of two new contracts with key agencies in Kentucky. On today's economic calendar, at 10am, the Fed's Thomas Barkin will speak before the Maryland Bankers Association first Friday economic outlook forum. That's it for today's Wall Street Breakfast. Thanks so much for listening. I'm Julie Morgan. Go out and have a great weekend. [MUSIC PLAYING] [BLANK_AUDIO]