Is This the Next Big Name in Tech?

Good morning. It's October 7th, and today we’ll look at Barnes Group’s acquisition by Apollo Global Management, Pfizer’s new activist investor, and a tiny lithium stock soaring nearly 35% after Rio Tinto’s move to acquire it.

Previous Close 📈

Stocks had a modestly positive last week, with the S&P 500, Nasdaq Composite, and Dow Jones all posting gains of 0.22%, 0.10%, and 0.09%, respectively.

Friday's stronger-than-expected jobs report fueled optimism that the Federal Reserve may achieve a "soft landing" for the U.S. economy, pushing the Dow to a record high and extending the major averages' winning streak to four weeks.

Futures

Futures are slightly lower today as Wall Street struggles to maintain momentum from Friday’s rally. S&P 500 futures are down 0.6%, Nasdaq 100 futures have dropped 0.8%, and Dow futures are off by 0.5%. Investors are bracing for the impact of the Federal Reserve meeting minutes, Consumer Price Index data, and rising geopolitical tensions.

Technology

Is This the Next Big Name in Tech? 60M+ in revenue and 45M+Users

This fast-growing tech company has seen an incredible 32,481% growth in just three years, with over $60M in revenue and 45M+ users.

Their innovative product allows users to earn and save while engaging in everyday activities like listening to music, playing games, and even charging their devices.

With shares currently priced at just $0.25 and with a market size that could be 10X bigger than Uber’s, this company is unlocking a new income-generating asset class for billions of consumers.

This is a unique opportunity to invest early before the rest of the market catches on.

Find out how you can get involved now!

What to Watch

Several important reports will be released at 8:30 a.m. Eastern today, including the U.S. Nonfarm Payroll data for September, the U.S. Unemployment Rate, U.S. Hourly Wages, and Year-Over-Year Hourly Wages.

Additionally, New York Fed President John Williams will give opening remarks at 9:00 a.m. Eastern, providing insights into the current labor market and economic conditions.

On the quarterly results front, Apogee Enterprises (NASDAQ: APOG) will announce its numbers today before the market opens.

Aerospace

Barnes Group to Go Private Following $3.6 Billion Acquisition by Apollo Funds

Aerospace parts manufacturer Barnes Group Inc. has entered into a definitive agreement to be acquired by Apollo Global Management in an all-cash deal valued at approximately $3.6 billion.

Under the terms, Barnes shareholders will receive $47.50 per share, representing a 22% premium over the company’s closing price on June 25, 2024.

The deal, unanimously approved by Barnes' Board of Directors, is expected to close before the end of the first quarter of 2025, pending shareholder and regulatory approval.

Once completed, Barnes will be delisted from the New York Stock Exchange and become a privately held company under the continued Barnes Group name.

Barnes CEO Thomas Hook praised Apollo’s track record of investments, stating that the acquisition will help accelerate Barnes' transformation and growth.

As a result of the pending acquisition, Barnes is suspending its 2024 financial guidance and will forgo its third-quarter earnings call scheduled for October 25, 2024.

Pharmaceuticals

Pfizer Faces Pressure for Change as Activist Starboard Value Invests $1 Billion Stake

Activist investor Starboard Value is taking a significant $1 billion stake in Pfizer Inc., aiming to push for a turnaround of the pharmaceutical giant, according to some reports.

Starboard has reportedly reached out to former Pfizer executives Ian Read and Frank D’Amelio to assist in its efforts. Both executives have expressed interest in supporting the push for change, though their exact roles remain unclear.

Read, Pfizer's CEO from 2010 to 2018, appointed current CEO Albert Bourla as his successor, while D’Amelio served as CFO until 2021.

Although Starboard's specific plans for Pfizer are not yet clear, the firm is said to be focused on addressing the frustrations of investors and analysts over the company’s ongoing post-pandemic struggles.

Pfizer’s stock has suffered, halving since its peak in December 2021, as demand for its COVED-19 products declined sharply after driving a revenue surge to $100 billion in 2022.

Wall Street remains skeptical of Pfizer's ability to pivot after the pandemic boom, despite its efforts to focus on cancer drugs, including the $43 billion acquisition of Seagen.

However, setbacks in obesity treatments and failed trials in other areas have continued to weigh on the company’s prospects. Recent acquisitions, including Global Blood Therapeutics and Biohaven, are viewed as delivering lackluster returns.

Starboard’s move comes as Pfizer embarks on a cost-cutting strategy to save $1.5 billion by 2027, but analysts warn that reversing the company’s course will take time.

Shares of Pfizer are rising by nearly 3.3% in premarket trading.

Energy

Chevron Offloads Alberta Oil Sands and Shale Stakes in $6.5B Deal

Chevron Corp. is selling its stakes in several oil sands and shale assets to Canadian Natural Resources Ltd. for $6.5 billion in cash. The sale includes Chevron's 20% interest in the Athabasca Oil Sands Project and a 70% stake in the Duvernay shale, both located in Alberta, Canada.

The transaction is set to close in the fourth quarter of 2024, pending regulatory approval, with an effective date of September 1.

The move is part of Chevron's broader strategy to concentrate on other global projects, particularly its operations in the U.S. Permian Basin and Kazakhstan’s Tengiz field, where a $48.5 billion expansion project is nearing completion.

The sale follows Chevron's recent $53 billion acquisition of Hess Corp., aimed at expanding its presence in Guyana, a key exploration hot spot.

Canada’s oil sands industry has undergone significant changes, particularly after the expansion of the Trans Mountain pipeline, which has opened new markets in Asia.

This has allowed Canada to reduce its reliance on U.S. pipelines and refiners, shipping millions of barrels of crude to countries like China, India, South Korea, and Brunei.

Gold

This Small-Cap Stock Could Be the Next Big Winner

Gold is hitting record highs, surging past US$2,600 per ounce, and smart investors are preparing for what could be an unprecedented bull run.

This small-cap gold stock, trading around US$0.25 per share, has already confirmed over 4 million ounces of gold in its U.S. flagship project, and it's set to drill for even more high-grade reserves.

With the strongest gold bull market in years, the potential for explosive gains in the small-cap space is real.

This company is positioned to capitalize on the rising gold prices and is backed by an experienced team with a track record of delivering shareholder value.

Don’t miss out on this opportunity—get all the details in the FREE report and position yourself ahead of the next big move in gold.

Arcadium Lithium PLC [ALTM] - Last Close: $3.08

Arcadium Lithium's stock is surging nearly 35% in premarket trading.

This rally comes after news that Rio Tinto is looking to acquire a stake in the company.

The deal, if completed, would bolster Rio Tinto's position as one of the top global lithium suppliers.

Arcadium Lithium, formed through the merger of Allkem and Livent, has experienced a significant drop in share value this year due to declining lithium prices, largely driven by oversupply from China.

However, Rio Tinto is betting on a recovery in lithium prices, making Arcadium an attractive acquisition target.

Aditxt Inc. [ADTX] - Last Close: $1.60

Aditxt is up 10% before the opening bell today.

The company recently updated its strategic plans for 2024 year-end.

This included news on its acquisition targets, Evofem Biosciences and Appili Therapeutics, which reported revenue of $7.8 million in the first half of 2024.

Appili also received a significant funding commitment from the U.S. Department of Defense.

The company is working to close acquisitions of Evofem and Appili, which will require approximately $21 million in cash.

Additionally, Aditxt is making efforts to clean up its balance sheet and secure capital through a shelf registration statement covering the sale of up to $100 million in securities.

Duckhorn Portfolio [NAPA] - Last Close: $5.40

Duckhorn Portfolio shares are soaring 101% in premarket trading.

The company will be acquired by Butterfly Equity in an all-cash deal valued at $1.95 billion.

Under the agreement, Duckhorn shareholders will receive $11.10 per share, representing a significant 65.3% premium over the company's 90-day average share price.

This acquisition will turn Duckhorn into a privately held company.

The deal, expected to close this winter, has been unanimously approved by Duckhorn’s Board of Directors and is subject to regulatory and shareholder approval.

The Future of Smartphones

Disruptive Tech Stock With 32,481% Growth in 3 Years

This fast-rising tech company is shaking up the smartphone industry, allowing users to earn and save money while performing daily activities like streaming music and playing games.

With over 45 million users and $60M+ in revenue, it’s making waves in the tech world.

Shares are currently available at just $0.25, offering investors a rare chance to buy in early.

With its rapid growth and innovative business model, this company is poised for massive expansion, and the market is just starting to take notice.

Don’t miss out on this opportunity—act now before the stock takes off.

Learn more about this high-upside investment today!

Everything Else

• Equinor strengthened its position in renewable energy by purchasing a 9.8% stake in Orsted.

• Traders brace for a shift in monetary policy as key U.S. yields hit 4%.

• FalconX targets acquisitions amid rising costs and anticipated consolidation in the digital asset sector.

• A court upheld LME's decision to annul $12 billion in nickel trades, rejecting Elliott's lawsuit.

• AstraZeneca invested $100 million upfront in a cholesterol drug from CSPC Pharmaceutical to enhance its cardiovascular pipeline.

• Biotech Firm CAMP4 Therapeutics targets up to $80 million in IPO proceeds as it seeks a Nasdaq listing.

That’s all for today. Thank you for reading. If you have any feedback, please reply to this email.

Best Regards,

— Adam Garcia
Elite Trade Club

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