The Daily Business and Finance Show - Monday, 22 July 2024 We get our business and finance news from Seeking Alpha and you should too! Subscribe to Seeking Alpha Premium for more in-depth market news and help support this podcast. Free for 14-days!
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(upbeat music) Welcome to the Daily Business and Finance Show. CrowdStrike faces downgrades from Guggenheim and BTIG after a global outage while Sentinel-1 capitalizes on their stumble. Ethereum spot ETFs get the green light from the SEC and Woodside Energy announces a $1.2 billion acquisition of Driftwood LNG developer Tilarion. Medical properties tenant stewards secures buyers for two hospitals and major indices rise as Biden exits the presidential race. Hawaiian electric stock plummets emit unresolved fire settlements, Broadcom gains ground on Nvidia in chip sentiment according to city's latest survey and CrowdStrike's outage sparks concerns over windows perceived vulnerabilities. Stay tuned after this short ad break to learn more about these headlines. The IKEA Business Network is now open for small businesses and entrepreneurs. Join for free today to get access to interior design services to help you make the most of your workspace. Employee wellbeing benefits to help you and your people grow and amazing discounts on travel, insurance and IKEA purchases, deliveries and more. Take your small business to the next level when you sign up for the IKEA Business Network for free today by searching IKEA Business Network. CrowdStrike listed on the NASDAQ as CRWD dropped nearly 4% in pre-market trading after Guggenheim and BTIG downgraded the cybersecurity stock to neutral from buy. Analysts cited fallout from a recent global IT disruption and high valuation concerns. Despite impressive response efforts, new business signings may be affected short term. The US Securities and Exchange Commission has approved Exchange Traded Funds Holding Ethereum with trading set to start as soon as Tuesday. Ether's price dropped 1.7% to $3,450 on the news, reducing its year to date gain to 47%. This approval follows January's green light for Bitcoin ETFs. Woodside Energy announced it will acquired liquefied natural gas developer Telerian for $1.2 billion in cash, including debt. This acquisition positions Woodside as a global LNG powerhouse. The driftwood LNG project in Louisiana is fully permitted and under construction with significant progress already made. Medical properties trust's largest tenant, Steward Healthcare is selling two properties amid a Senate investigation. Waudley Regional Medical Center in Arkansas will go to Pafford Health Systems for $200,000. Glenwood Regional Medical Center in Louisiana will be sold to AHS South LLC for $500,000. Steward filed for bankruptcy on May 6th. On Monday, markets surged as President Joe Biden exited the presidential race. The tech heavy NASDAQ composite rose 1.5%, the S&P 500 gained 1%, and the Dow Jones Industrial Average increased by 0.3%. Tech and communication services led gains while energy lagged. Treasury yields saw minimal changes, with the US 10-year treasury yield up slightly to 4.25%. In other news, Warren Buffett's Berkshire Hathaway sold $1.48 billion in Bank of America shares, Verizon dropped 6% on mixed earnings, and Sentinel-1 jumped due to a Microsoft outage linked to CrowdStrike. Sentinel-1, a cybersecurity firm, saw its stock rise 8% on Monday after a Microsoft outage caused by a CrowdStrike update. Analysts Zachary Schneider noted increased interest in specialized vendors like Sentinel-1. The company's AI-driven singularity platform has gained praise and secured a deal with the Cybersecurity and Infrastructure Security Agency. Despite strong competition from CrowdStrike, Palo Alto Networks, and Microsoft, analysts rate Sentinel-1 as a buy. - Hawaiian electric shares fell 20% after missing the deadline to settle lawsuits over last year's Maui wildfires. The deadline has now been extended to Wednesday. Governor Josh Green criticized the proposed settlement, saying resources should go to affected families. Earlier, the stock had surged 37% on news of a tentative $4 billion settlement. - City analysts report Broadcom is gaining positive sentiment, catching up to NVIDIA due to new AI customers and VMware benefits. Investors favor NXP semiconductors and analog devices for inventory replenishment. Hedge funds are buying Texas Instruments expecting earnings upside while mutual funds await margin improvements. Concerns arise over potential cuts at advanced micro devices and microchip technology. Micron faces a negative outlook due to Samsung's expected increased capital expenditure. - Last week's global outage caused by a bad update from Cybersecurity from CrowdStrike had significant impacts and raised questions about vulnerabilities in Microsoft's Windows operating system. Analyst Tyler Ratkey noted limited financial impacts for Microsoft, but highlighted potential negative perceptions. The outage did not affect Apple computers or those running Linux. Thanks for tuning into the daily business and finance show. Stay informed, stay ahead, and we'll catch you in the next episode. Have a productive day. I'm Montgomery Jones. And I'm Amalia Duprey. Good night for now, until we cross paths again tomorrow. - This content is sourced from the Seeking Alpha website. So support our podcast by becoming a Seeking Alpha Premium subscriber. See the show notes page for links to sign up. This episode is produced by Classic Studios. This podcast provides information only and should not be construed as financial or business advice. Check out our other podcasts and our network at classicstudios.com. (upbeat music) (gentle music)
