Wall Street Breakfast

Faraday Future surges with CES reveal ahead

Faraday Future (FFIE) skyrockets with model reveals on tap for next week at CES. (00:29) Tempur Sealy (TPX) and Mattress Firm propose concessions to address FTC's opposition. (01:51) Tel Aviv (TVAVF) poised to switch to Monday-to-Friday trading week - report. (02:45)

Episode transcripts seekingalpha.com/wsb.

Show links:
Biggest stock movers Tuesday: VSTM, ACAD
Bill Ackman says common stocks of GSEs offer 'large asymmetric upside'
Trim the Mag 7 and invest in lower valuation dividend growth stocks – Miramar Capital
HIVE Digital relocates head office to U.S. for better ecosystem

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Duration:: 5m
Broadcast on:: 31 Dec 2024
Audio Format:: other

Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. Good morning on this final Tuesday of 2024, Tuesday, December 31st. I'm Julie Morgan. Faraday Future Skyrockets ahead of a big reveal. Tempere Sealy attempts to address concerns of the FTC and Tel Aviv looks to be making major changes in 2026. Faraday Future Intelligent Electric soared 78% on Monday on reports that the Faraday Future FX prototype car will be unveiled next week. The unveiling is expected at CES 2025 in Las Vegas on January 5th through 7th. The company is also expected to provide a strategy update at CES. In addition, the electric vehicle company announced that entrepreneur Luke Hans will take delivery of the first FF91 2.0 Futurist Alliance EV in 2025 during a delivery ceremony with executives. Hans was noted to have business interest spanning real estate, car rental, oil, pharmaceutical and film production with operations in China, Canada and the U.S. He was signed as a Faraday Future Developer Co-Creation Officer and is expected to play a key role in supporting the company's business development products sales and collaborative innovation efforts. Last week, Faraday Future secured approximately $30 million in cash financing commitments. The funds will be used to accelerate the company's growth and the development of Faraday X. FF's strategy of launching affordable high-performance AI EV-equipped vehicles. Pre-market FFIE is up 18%. Tempere Sealy International posted its largest one-day gain in over a month on Monday. TPX rose 3.5% as the company took steps to address the Federal Trade Commission's opposition to its $4 billion acquisition of mattress firm. According to Bloomberg, the two companies pledged to make more retail space available to rival mattress suppliers if the FTC approves the merger. Addressing concerns that a merger would create enormous power along the supply chain and give Tempere Sealy significant power over rival mattress manufacturers. The FTC wants to block the merger citing multiple deal documents that show Tempere Sealy's plans to limit rivals access to mattress firm and lose access to the single most important retail channel. A federal court's decision on the merger is expected by January 30th. Israel's finance minister said he'd approve the Tel Aviv stock exchange as moved to a Monday to Friday trading week, aligning it with international standards according to a media firm. The change expected to take effect at the beginning of 2026 will adjust the exchange as hours from his current Sunday to Thursday schedule. However, trading would conclude on Friday's at 2 p.m. local time to allow for the observation of the Jewish Sabbath at sunset. Reuters reported that the Israeli finance minister said that this move will make it easier for global investors to access the Israeli capital market. Invest in the market without unnecessary barriers and bolster the Israeli economy in the long term. Now let's take a look at what's trending on Seeking Alpha. Bill Ackman says common stocks of GSEs offer a large asymmetric upside. Miramar Capital says trim the max 7 and invest in lower valuation dividend growth stocks. And Hive Digital relocates its head office to the US for a better ecosystem. And of course we've made it to that time of the morning when we take a look at the markets ahead of the opening bell. Dow S&P and NASDAQ futures are in the green. Crude oil is up 0.6% at 71 dollars a barrel. Bitcoin is up 0.4% at 94,000. Acadia Pharmaceuticals is on our list of the biggest movers of the day pre-market. ACAD is up 8% after news that it will enter the S&P small cap 600. Acadia Pharmaceuticals will replace independent bank group and the S&P small cap 600 effective prior to the opening of trading on Friday January 3rd, 2025. On today's economic calendar at 9am the FHFA House Price Index. It's time to reimagine the way you invest with Seeking Alpha's virtual analyst reports. It's where AI meets human ingenuity and you get the best of both worlds with just one simple click. Find the virtual analyst report at the top of any stock symbol page with a quant rating that's more than 4,500 companies. And that's it for today's Wall Street Breakfast. Thank you so much for listening. I'm Julie Morgan. Go out and make it a great day. [Music]