At last, Smell-O-Vision is back. Sony dropped an immersive-gaming concept that'd let folks sniff PlayStation IP like "The Last of Us" in a giant cube. Eau de zombie, anyone? It wasn't a happy Friday: the S&P 500 erased its gains for the young year after Friday's blockbuster jobs report. The major US indexes fell ~1.5% as traders digested expectation-crushing December jobs growth, which also crushed rate-cut hopes. 🧠 QuizTok: Stop scrolling the (possible) season finale of TikTok to play this week's Snacks Seven quiz. For you, here's the first q: |
- Delta said it's giving up its loyalty-program partnership with which company? (Check your answer.)
|
|
|
#GRWM… to decide TikTok's future. On Friday, the US Supreme Court heard arguments over the TikTok ban-or-divest law, which could lead to the app's 170M American users losing For You Page access. The supremes' ruling, expected soon, will decide whether the popular app can be banned in the US on January 19, if Chinese parent ByteDance doesn't divest from it (spoiler: it has no plans to sell). If ByteDance doesn't ditch its controlling stake and the court doesn't halt the law, the app will effectively be blocked from US devices. App stores including Apple's and Google's would face huge fines if they offered TikTok or pushed app updates. |
- Comments: TikTok lawyers and creators have argued that the law violates free-speech rights. US Solicitor General Elizabeth Prelogar insisted that the app's Chinese ownership is a national-security risk that can be stemmed only by a ban or divestment.
- SCOTUS appeared to be leaning toward upholding the law. Though Justices Gorsuch and Kagan raised concerns that it could infringe on the First Amendment, most appeared to agree that the law was targeted at national security, not free speech.
- Trump card? POTUS-elect Trump — who backpedaled on his 2020 attempt to block TikTok by saying he'd try to save the app — made a controversial move by asking SCOTUS to pause the ban's deadline until he takes office on January 20.
|
When life gives you lemons… promote Lemon8. ByteDance has been pushing TikTok's sister app, Lemon8, for years. But as the Tik ban turned from a worst-case scenario to a very likely reality, the push has intensified. TikTok creators, some paid by ByteDance, have been urging followers to download the Instagram-like app. Last month, US page views for Lemon8 spiked to 5M. |
|
|
The Tik-conomy may have to migrate… From creators to companies, TikTok has become an entire economy. If the ban happens, users, creators, and brands will have to move to copycats like Meta's Insta Reels, YouTube's Shorts, Snap's Spotlight, and Lemon8. But Lemon8 may not be safe either because the ban-or-divest law could apply to all of ByteDance's apps. |
|
|
The Cure with a $75 Million PE Commitment |
Just what the doctor ordered… With three FDA clearances, 200,000+ human uses, a +$70 million dollar license deal1, and an expansion into the $15B+ eczema and toenail fungus market, Turn Therapeutics is on a mission to deliver life-changing advancements in advanced wound care, dermatology, and vaccine technologies.2 Hard launch… Turn Therapeutics started with one founder's mission to cure his own recurring infections. And today, the company he built on that cure just received a commitment from private equity group, Global Emerging Markets (GEM Global Yield LLC SCS), to purchase up to $75 million of its stock upon a future public listing.3 The Turn Therapeutics team is inviting all to invest in their innovative biotech company.4 This is a unique opportunity to be an early investor in a company that has the potential to change the course of healing for many. |
|
|
The Cure with a $75 Million PE Commitment |
Just what the doctor ordered… With three FDA clearances, 200,000+ human uses, a +$70 million dollar license deal1, and an expansion into the $15B+ eczema and toenail fungus market, Turn Therapeutics is on a mission to deliver life-changing advancements in advanced wound care, dermatology, and vaccine technologies.2 Hard launch… Turn Therapeutics started with one founder's mission to cure his own recurring infections. And today, the company he built on that cure just received a commitment from private equity group, Global Emerging Markets (GEM Global Yield LLC SCS), to purchase up to $75 million of its stock upon a future public listing.3 The Turn Therapeutics team is inviting all to invest in their innovative biotech company.4 This is a unique opportunity to be an early investor in a company that has the potential to change the course of healing for many. |
| |
Checking the balance… JPMorgan Chase, Citigroup, Wells Fargo, Bank of America, Morgan Stanley, and Goldman Sachs are set to kick off Q4 earnings szn. They all topped estimates in October, even as they set aside more cash to cover losses from loan defaults. Meanwhile, rate cuts sparked dealmaking optimism: investment-banking revenues and profits surged at Morgan Stanley and Goldman as they underwrote more deals like mergers. Still, lower rates could hurt banks' net-interest income, a key profit driver. "Severance" RTO… The sci-fi show that makes work a waking nightmare is back — and S2's said to have cost Apple $20M+/episode (that beats "GoT"). "Severance" is one of Apple TV+'s few hits: it's estimated that the streamer's subscriber count falls behind rivals like Paramount+ and NBCUniversal's Peacock. Apple TV+ has grown its share of Apple's services revenue, which hit a record $25B in the most recent quarter. Still, Apple's said to be scaling back spend after pouring $20B into content that didn't move the needle much. |
Insurance inferno… Last week LA was battling several wildfires in which at least 16 people died and thousands of structures burned. Experts say insured losses could surpass $20B, making it the costliest blaze in US history. Even before this round of fires, insurance cos ditched high-risk areas in California and beyond. Last year State Farm pointed to risks from catastrophes after it axed policies for 72K CA homes and apartments. As the climate crisis intensifies, folks in the Golden State increasingly rely on its insurer of last resort, whose cash reserve is far smaller than the expected damages. Good news, bad news... The US labor market closed out 2024 with a boom, adding 256K jobs in December (100K more than expected). That's 2.2M jobs added on the year, in line with prepandemic numbers. Unemployment fell to 4.1%, and hourly wages climbed enough to mark a 3.9% hike from 2023. But those strong #s sent shivers through markets. Traders' hopes for another rate cut at the Fed's meeting this month appear dashed, and economists have lowered their expectations for further slashing. Bank of America said it now expects zero cuts this year. |
|
|
We watched 12 shows on 6 platforms to find out how much of your life you give up to save a few bucks each month. Read more. |
|
|
- Disney, Warner Bros. Discovery, and Fox scrapped plans to create a joint sports-streaming service days after Disney said it would acquire sports streamer FuboTV.
- Booze sellers may end up parched this Dry January as interest in sobriety spikes and sales of non-alcoholic alts from brands like Athletic Brewing pop.
- Crypto-tax rules are still evolving, and ongoing litigation plus an incoming crypto-friendly admin could upend them further.
|
|
|
- Monday: Monthly US federal budget. Earnings expected from KB Home
- Tuesday: Producer-price inflation data for December. Fed Beige Book
- Wednesday: Consumer-price inflation data for December. Earnings expected from Goldman Sachs, JPMorgan Chase, Citigroup, Wells Fargo, BlackRock, BNY, and Concentrix
- Thursday: Weekly jobless claims. Retail sales for December. Home-builder confidence index. Earnings expected from TSMC, UnitedHealth Group, Bank of America, Morgan Stanley, PNC Financial Services, Infosys, and JB Hunt Transport
- Friday: Industrial production and housing-starts data for December. Earnings expected from SLB, Truist Financial, and State Street
|
|
|
Authors of this Snacks own shares of: Apple, Alphabet, Comcast, Delta, Disney, Snap, Sony, and Warner Bros. Discovery |
Advertiser's disclosures:
1 Commercial License deal amount represents the total expected value upon full performance of the agreement. 2 The Company's Formula (Gx-03/Hexagen/Atopx) Has Received 510k Marketing Approval As A Medical Device Indicated For The Management Of Wounds, Burns, and Symptoms Related To Atopic Dermatitis/Eczema. The Company Is Pursuing New Drug Approval for this Formula For The Treatment of Moderate to Severe Eczema and Toenail Fungus. 3 A plan to publicly list the company's stock is no guarantee that an actual listing will occur. The PE commitment is contingent upon a future public listing. 4 Please read the offering circular and related risks at StartEngine's Turn Therapeutics webpage. This is a paid advertisement for Turn Therapeutics Regulation CF Offering. This Reg CF offering is made available through StartEngine Primary, LLC, member FINRA/SIPC. Investing in private company securities is not suitable for all investors because it is highly speculative and involves a high degree of risk. It should only be considered a long-term investment. You must be prepared to withstand a total loss of your investment. Private company securities are also highly illiquid, and there is no guarantee that a market will develop for such securities. |
|
|
Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate... See more |
|
|
|
