- Another U.S. Investment – IBM has announced plans to invest $150 billion into the U.S. over the next five years, which includes a $30 billion investment in research and development for quantum computers (source: Reuters).
- Dominating DoorDash – DoorDash, a U.S.-based meal delivery service, has submitted a $3.6 billion buyout proposal for Deliveroo, a UK-based meal delivery company, causing Deliveroo’s share price to surge on Monday, April 28. (source: Bloomberg).
- Shrinking Manufacturing – During 2024, labor productivity decreased in 52 of the 86 four-digit NAICS manufacturing industries. The aerospace products and parts industry recorded the largest decline among industries with more than 350,000 workers at -7.0% (source: U.S. Bureau of Labor Statistics).
- Smile Settlement – Align Technology Inc., the maker of Invisalign, has agreed to a $31.75 million settlement to end claims about the company colluding to raise prices. This is the third attempt by Align Technology Inc. to settle the case (source: Bloomberg Law).
- Scrutinized Security – Following the murder of UnitedHealth executive Brian Thompson, over a dozen S&P 500 companies have flagged an increase in security risks. Companies like Walmart, American Express, Broadcom, and General Motors have all disclosed new or increasing security expenses from the previous year. Allied Universal, which serves more than 80% of Fortune 500 companies, said the number of customers requesting increased security efforts has risen 10 to 15 times over the past few months (source: Reuters).
- Unemployment Uptick – During 2024, 5.3% of families had an unemployed person, which is up from 4.8% in 2023. Of the reported 84.3 million families, 80.1% had at least one employed member during 2024 (source: U.S. Bureau of Labor Statistics).
- Sike – DHL has backtracked its pause on global shipments to the U.S. worth more than $800 after working to enhance its clearance capacity with U.S. authorities and the Department of Commerce (source: CNN).
- Banding Banks – Eastern Bank shares have entered a deal to acquire HarborOne Bancorp in a $490 million stock and cash deal. Similarly, Columbia Banking System will acquire Pacific Premier Bancorp in a $2 billion all-stock deal (source: Reuters).
- Social Media Side Effects – 48% of teens ages 13 to 17 believe that social media sites have a mostly negative effect on people their age. This is up from 32% in 2022. However, only 14% of teens think that social media negatively affects them personally (source: Pew Research Center).
This newsletter is provided for informational purposes only and does not constitute investment advice or a recommendation regarding any specific product or security. Past performance is not indicative of future results. You cannot invest directly in an index. All references to tax or legal matters are provided for informational purposes only. You should consult your legal or tax professional regarding your specific situation. All investing is subject to risk, including possible loss of principal.
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