BizToc
📰 BizToc.com Hourly News Flash

1) US Economy Flexing Muscles —

No rate cuts expected in 2024 as the robust US economy displays impressive strength. #RateCuts
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👉🏻 For more, visit biztoc.com and never miss a beat in the world of business news.
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4) Super Micro's S&P 500 Debut —

Super Micro's shares skyrocket as it's set to join the S&P 500 index after a remarkable 20-fold increase in stock price over two years. #SuperMicroSP500
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3) Fast-Food Price Wars —

Wendy's experimental surge pricing faces tough competition as rivals like Burger King and Chili's heat up the fast-food battlefield. #WendysPricing
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2) Biden Averts Government Closure —

With a signature, President Biden signs off on short-term spending bill, dodging a partial government shutdown and securing operations. #ShutdownAverted
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📰 BizToc.com Hourly News Flash

1) Waymo Expands Robotaxi Empire —

California greenlights Waymo's driverless robotaxis in San Francisco and Los Angeles, signaling a shift in urban transportation. #WaymoExpansion
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👉🏻 For more, visit biztoc.com and never miss a beat in the world of business news.
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4) Ideological Extremes Undermine Society —

A piercing editorial warns that unbridled ideology, regardless of political stripes, can morph into a pathological force, threatening societal balance. #SocietalHealth
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3) Car Sales Signal Robust Economy —

A 5.4% surge in car sales indicates economic vibrancy amid broader market concerns, pointing to underlying consumer confidence. #ConsumerConfidence
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2) California Greenlights Waymo Robotaxis —

Waymo gets the nod from California to roll out driverless robotaxi services, potentially revolutionizing urban transit in the Peninsula and LA. #AutonomousVehicles
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BizToc
📰 BizToc.com Hourly News Flash

1) S&P 500 Welcomes Super Micro & Deckers Outdoor —

In a notable index shake-up, tech firm Super Micro and footwear company Deckers Outdoor ascend to the S&P 500, promising fresh investor interest. #IndexRebalance
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Hidden Value Gems
Interesting study showing that the merger of equals often leads to poor results for shareholders:

✅"Following the announcement of a merger of equals, the stock price of the average acquirer lags behind industry peers by more than 7 percentage points cumulatively over the following two years."

✅"It is twice as likely a so-called value stock — one trading at a low valuation compared with its assets or fundamental performance — will target a merger of equals than a growth stock that has earnings above the market average."

✅"Lower quality companies — which we define on a range of factors such as dividend payments, profitability and credit risk metrics — tend to engage more in mergers of equals, with only 40 companies we rank as high quality involved in the past 20 years."

✅"If the initial market reaction to the announcement is poor in the first week, the stock of the merged company suffers another 10 percentage points of underperformance against its industry group on average over the next two years."

via @FT
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Hidden Value Gems
Some dose of optimism:

"February was the 7th strongest on record since World War II. In previous years since 1945 when the market was up at least 6% in the first two months, it gained an average of 11.9% through the remainder of the year."

- Birinyi Associates
h/t @SamanthaMcLemor
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