DAILY UPDATE: Apollo, Constellation Energy & the US Health System as S&P 500 Hits New High

Posted on September 24, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

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Private equity giant Apollo has offered an investment of up to $5 billion in Intel, a sign of support for its comeback efforts, according to Bloomberg.

Stat: 9 out of 10. That’s where the US healthcare system ranked on efficiency among 10 high-income countries. (Axios)

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What’s up

  • Intel is suddenly looking like the belle of the ball. Shares rose 3.30% after Apollo Global Management reportedly offered to make an investment of up to $5 billion, even as Qualcomm hints it wants to acquire the old school tech giant.
  • Palantir surged 2.02% during its first day of trading on the S&P 500, in spite of a downgrade from a Raymond James analyst.
  • Southwest Airlines ascended 2.03% after management told employees that “tough decisions” lie ahead, implying forthcoming job cuts as the company focuses on profitability.
  • Boeing popped 1.96% on hopes that a labor dispute will be over soon after the company issued its “final” offer to striking machinists, including a 30% raise over the next four years.
  • Tesla revved 4.93% higher thanks to an analyst upgrade from Barclays focused on higher delivery expectations and near-term catalysts like the upcoming Robotaxi event.

What’s down

  • General Motors sank 1.70% after receiving an analyst downgrade from Bernstein citing “earnings headwinds.”
  • Ulta Beauty fell 2.03% thanks to an analyst downgrade from the folks at TD Cowen, who don’t like the rising costs the makeup company will have to pay to stay competitive.
  • Trump Media & Technology Group tumbled to a new all-time low, falling 10.33% as worries arise that former President Donald Trump will sell a portion of his stake in the social media company.

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Here’s where the major benchmarks ended:

  • The S&P 500® index (SPX) added 16.02 points (0.28%) to 5,718.57; the Dow Jones Industrial Average® ($DJI) increased 61.29 points (0.15%) to 42,124.65; the NASDAQ Composite® ($COMP) rose 25.94 points (0.14%) to 17,974.27.
  • The 10-year Treasury note yield (TNX)added one basis point to 3.74%.
  • The CBOE Volatility Index® (VIX) fell to 15.82, closing at another new low for September.

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Stat: $1.6 billion. That’s how much Constellation Energy is investing in reopening facilities at nuclear power plant Three Mile Island. The company is restarting the infamous plant to sell power to Microsoft data centers. (CNBC)

Visualize: How private equity tangled banks in a web of debt, from the Financial Times.

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MOON: Investing for the Risk Tolerant Physician?

Posted on February 26, 2024 by Dr. David Edward Marcinko MBA MEd CMP™

PRIVATIZING OUTER SPACE

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Did you know that NASA remains laser-focused on getting humans back on the moon with its Artemis program. But with a budget one-tenth the size it was at the height of the Apollo program, the space agency is turning to the private sector to make it to the Moon, again.

IM’s Odysseus mission is part of the NASA Commercial Lunar Payload Services (CLPS), an initiative that partners the agency with private companies, allowing NASA to send data-collecting instruments to the moon aboard private spacecraft while spending significantly less money than if it had to send its own.

  • NASA paid $118 million to Intuitive Machines for Odysseus to take six high-tech research machines to the moon.
  • According to Thomas Zurbuchen, who led the creation of the CLPS program, this type of mission could cost half a billion to a billion dollars if led by NASA.

In December, India landed a spacecraft on the moon’s south pole for $75 million—less than the reported budget of Madame Web. But the trend of cheaper missions also means a higher likelihood of failure. Last month, the Peregrine lander from Astrobotic Technology—another company working with NASA via the CLPS initiative—failed to reach the moon after a fuel leak.

The company’s stock struggled after going public a year ago, but excitement around Odysseus made that a thing of the past: It has soared 300% since last month.

UPDATE: Shares of Intuitive Machines slumped 38% in post-market trading on Friday after the company said its moon lander Odysseus had “tipped over” sideways when the spacecraft descended on the lunar surface a day earlier.

Odysseus is “aliv

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