Notes
QUICK MARKET SUMMARY:
Energy, Industrials, Materials:
🔸 James Hardie ( $JHX.AX) to buy AZEK for $8.75B; AZEK shareholders get $56.88/share.
🔸 FedEx ( $FDX) upgraded to Buy at Jefferies; price target cut to $275.
🔸 Japan's steel output fell 8.5% YoY in Feb, lowest since July 2020.
Financials:
🔸 Ally Financial ( $ALLY) on 90-day catalyst watch at Citigroup.
🔸 Bitcoin up 3% to ~$88K; crypto firms return to India.
🔸 Fifth Third ( $FITB) files mixed shelf offering.
🔸 IRS expects $500B revenue loss as taxpayers skip filings.
Healthcare:
🔸 Bayer ( $BAYRY) ordered to pay $2.1B over Roundup cancer case; plans appeal.
🔸 TOMS Capital pushes for changes at Kenvue ( $KVUE).
🔸 23andMe ( $ME) files for Chapter 11; CEO Anne Wojcicki resigns.
Tech, Media, Telecom:
🔸 Ant Group uses Chinese chips for AI training, cutting costs 20%.
🔸 Super Micro ( $SMCI) downgraded to Sell at Goldman; target cut to $32.