Strong quarterly results from an animal health company set a positive tone, while progress in cancer drug development added another layer of encouraging news from the biotech space.
On the other side, continued weakness in technology shares created pressure, reflecting ongoing challenges for growth-oriented names.
Money Keeps Flowing (Sponsored)
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Markets
Wall Street fell sharply today as tech names extended losses on heavy AI spending concerns, highlighted by Alphabet's massive $185B 2026 capex plan and Qualcomm's weak guidance due to memory chip shortages. Meanwhile, soft labor market data fueled recession fears.
DJIA [-1.20%]
S&P 500 [-1.23%]
Nasdaq [-1.59%]
Russell 2k [-2.00%]
Private Equity
KKR’s $1.4 Billion Bet on Scarcity, Media, and Fans
KKR (NYSE: KKR) is acquiring Arctos in a $1.4 billion deal, deepening its exposure to professional sports ownership and related media assets. The move targets a corner of alternatives built on scarcity, global demand, and long-term revenue visibility.
Arctos specializes in minority stakes in major sports franchises, an area that has attracted institutional capital as leagues expand media rights, global reach, and direct-to-consumer engagement.
Scarcity Does the Heavy Lifting
Unlike traditional buyouts, sports franchises offer a limited supply and persistent demand. Cash flows are long dated, pricing power tends to track inflation, and cultural relevance keeps valuations supported even in tougher markets.
What this means for you is a clearer signal of how private equity is evolving, with KKR leaning into assets that behave differently across cycles. It is a shift toward diversification that is driven by cash flow resilience, not just deal volume.
The Real Test
The upside now depends on integration. KKR brings scale, structuring expertise, and global capital, while Arctos brings deep league relationships and hard-to-replicate domain knowledge.
Done right, Arctos becomes a foundation for broader bets across sports, media, and entertainment convergence. In a market where traditional deals are under pressure, KKR is signaling where you should look for the next leg of durable alternative growth.
Artificial Intelligence
CXApp Wants AI Living Inside Your Office
CXApp (NASDAQ: CXAI) is partnering with TouchSource to embed AI directly into commercial buildings across the U.S. The deal connects CXApp’s agentic AI with TouchSource’s network of more than 11,000 digital directories and wayfinding systems in offices and mixed-use properties.
The result is AI that does not just live inside apps; it lives inside the building itself, guiding people through spaces in real time.
Buildings Start Talking Back
Instead of treating offices as static boxes, CXApp is turning them into interactive environments. Visitors can navigate floors, find services, and get help on site, while employees can connect tasks, spaces, and people without friction.
If you are watching how workplace tech is evolving, this is AI becoming part of the physical experience, not just background software.
Real Estate Meets Intelligence
For enterprises and landlords, the integration links workplace software with on-site infrastructure. Scheduling, navigation, facilities, and visitor experience can all run through a single intelligence layer.
Strategically, this pushes CXApp beyond HR and IT and deeper into facilities management and proptech. As companies rethink the role of offices in a hybrid work world, CXApp is betting that visibility matters.
For you, this is where the next wave of AI stops being abstract and starts becoming real. It also signals that you may soon expect buildings to guide, respond, and adapt just like apps do today.
Structural Edge (Sponsored)
For decades, one type of investment was reserved for the ultra-wealthy.
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Healthcare
Hims Tests the Limits of Obesity Care
Hims & Hers (NYSE: HIMS) is expanding its obesity strategy with a compounded oral weight loss option modeled on branded GLP-1 therapies. The appeal is obvious. Oral treatments pull in patients who avoid injections or cannot afford branded drugs, widening access fast.
That fits Hims’ access first playbook and deepens engagement across its platform. In consumer healthcare, you often see scale driven by access first, refinement later, and this move follows that pattern.
The Gray Zone Gets Crowded
The upside comes with complexity. Compounded drugs operate in a legal and regulatory gray area tied to personalization, supply limits, and shifting interpretations. That creates uncertainty around how long products can stay available at scale without intervention from regulators or branded players like Novo Nordisk.
Manufacturing adds pressure. Oral GLP-1 formats require higher doses than injectables, raising questions around capacity, cost control, and consistency as demand grows.
Execution Is the Filter
As obesity care moves mainstream, scrutiny around safety, labeling, and outcomes will intensify. Any stumble risks drawing attention not just to one product, but to the broader compounded care model Hims relies on.
If you care about durability, this phase tests whether Hims can balance speed with discipline. Pull it off, and it strengthens its case as a long-term obesity platform. Miss, you start to see the limits of how far access alone can take the model.
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Top Winners and Losers
Phibro Animal Health Corporation [PAHC] $50.03 (+22.02%)
Phibro climbed after posting quarterly earnings and revenue that beat expectations, highlighting strong growth in its animal health and nutrition business.
McKesson Corporation [MCK] $958.37 (+16.59%)
McKesson rose after reporting quarterly earnings and revenue that edged past expectations, reflecting steady demand in pharmaceutical distribution.
Transcode Therapeutics Inc [RNAZ] $9.97 (+16.20%)
TransCode surged after announcing an FDA IND amendment submission for a Phase 2 trial of its lead RNA-based cancer therapy in colorectal cancer.
Geospace Technologies Corporation [GEOS] $9.36 (-41.50%)
Geospace fell after reporting a sharp drop in quarterly revenue and swinging to a net loss, reflecting a tougher operating environment and slower demand.
TG-17 Inc [OBAI] $20.32 (-38.42%)
TG-17, which operates as Our Bond, has continued to decline since its Wednesday debut on Nasdaq amid broader weakness in technology stocks, with AI-related names under pressure.
Fluence Energy Inc [FLNC] $18.93 (-34.72%)
Fluence Energy slid as disappointing earnings and weaker-than-expected sales raised concerns about near-term performance in the energy storage business.
Poll: What’s the most financially dangerous “small”
Defensive Demand (Sponsored)
Foreign powers are challenging the dollar while global tensions continue to rise.
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Everything Else
Wall Street sank deeper as Alphabet’s spending plans and Qualcomm’s outlook fed a broader unwind in tech.
Waymo is pushing into Sacramento and heading back to Boston, steadily widening its autonomous footprint one city at a time.
U.S. software names were mixed after a brutal selloff, with AI disruption fears still hanging over the sector.
Peloton got hit hard after a weak holiday showing, reminding investors how fragile the turnaround still is.
Crypto exchange Gemini is preparing layoffs and pulling back from Europe and Australia, a retrenchment move as conditions tighten.
Bitcoin slipped below $67,000 as selling pressure built, and doubts resurfaced about what the asset is really for in stressed markets.
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— Adam G.
Elite Trade Club
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