Company Overview - Compass is a leading global contract caterer, serving 5.5 billion meals annually across more than 25 countries, and is recognized as a well-managed business [2] - The company derives approximately 75% of its revenues in U.S. dollars, highlighting its international operations [4] Currency Change Announcement - Compass announced it will change the currency of its share trading from sterling to U.S. dollars effective April 1, 2024, to align its trading currency with its reporting currency, thereby reducing foreign exchange volatility [1] - This move is part of a broader trend among British companies, with many now reporting in currencies other than sterling [8] Industry Context - The change in trading currency follows a recent adjustment in FTSE Russell's membership rules, allowing companies trading in dollars or euros to be considered for inclusion in the FTSE U.K. Index Series [5] - Other major companies, such as InterContinental Hotels Group, have also adopted this practice, indicating a shift in how British firms operate in global markets [6] Historical Perspective - The trend of companies reporting in foreign currencies is not new, with major firms like HSBC, AstraZeneca, and Shell having transitioned to dollar reporting in recent years [8][11] - Historically, Avis Europe was an early adopter of non-sterling reporting, having faced challenges in the past when attempting to report in the European Currency Unit [9][10] Market Reactions - The announcement from Compass has sparked discussions about the potential for more U.K. companies to follow suit and possibly list on the New York Stock Exchange, reflecting a growing trend of British firms seeking to align with global financial practices [4][13]

Core Viewpoint - Over 1,400 Salesforce employees have expressed their concerns regarding the company's potential business dealings with the U.S. Immigration and Customs Enforcement (ICE), urging CEO Marc Benioff to cease all engagements with the agency [1][2]. Group 1: Employee Concerns - Employees are troubled by reports indicating that Salesforce is pitching AI technology to ICE to assist in hiring 10,000 new agents and managing tip-line reports [2]. - The letter from employees demands the cancellation of all active pitches to ICE and calls for a public statement against the presence of masked agents in U.S. cities [2]. - The letter highlights concerns that Salesforce's products may enable ICE to enhance its recruitment and operational capabilities [4]. Group 2: Context and Reactions - The employee letter follows incidents where ICE agents were involved in the deaths of U.S. citizens, raising ethical concerns about the agency's use of technology from companies like Salesforce [3]. - CEO Marc Benioff's recent comments about ICE at an employee gathering have drawn criticism from staff, further fueling discontent within the company [3]. - The letter also requests transparency regarding the services Salesforce provides to ICE and calls for a pause on any infrastructure or AI systems that could support ICE's operational scale-up [4]. Group 3: Company Performance and Market Reaction - Salesforce is facing challenges as its stock has declined approximately 27% in 2026, amid investor concerns about the impact of AI models on software company growth [5]. - Despite these challenges, Salesforce projected a growth rate of 9% to 10% for the current fiscal year, indicating a slight increase from previous periods [5].

Economic Overview - Chinese consumers are experiencing "luxury shame," reminiscent of the U.S. during the 2008-09 financial crisis, indicating a shift in consumer sentiment [1] - The consumer price index (CPI) rose by 0.2% year-on-year in January, below the expected 0.4% increase, following a 0.8% growth in December, which was the highest in nearly three years [2] - The producer price index (PPI) declined by 1.4% year-on-year, better than the expected 1.5% drop, and moderated from a 1.9% decline in December, indicating persistent deflationary pressures [3] Economic Growth and Challenges - China's economy grew by 5% last year, aligning with Beijing's official target, supported by resilient export growth to non-U.S. markets [4] - The country continues to face deflationary pressures post-pandemic, influenced by a prolonged property downturn and uncertain job-market prospects [4] - Authorities are addressing price wars across industries due to overcapacity, which has led to a surplus of goods and forced companies to reduce prices [4] Policy Responses - Top policymakers are expected to announce economic targets for the year at an upcoming parliamentary meeting [5] - The People's Bank of China has reiterated its commitment to "appropriately loose" monetary policies to support the economy and guide prices towards a reasonable recovery [5]

Group 1: Earnings Performance - Astera Labs reported fourth-quarter earnings that exceeded expectations on both revenue and net income, with revenue rising 92% year over year to $271 million, surpassing the expected $250 million [1][6] - The company achieved a net income of $45 million for the quarter, an 82% increase from $24.7 million the previous year [2] - Earnings per share were reported at 58 cents, compared to the expected 51 cents [6] Group 2: Future Outlook - Astera Labs anticipates first-quarter revenue to be between $286 million and $297 million, which is above Wall Street's expectation of $259 million [2] - The CEO highlighted that the company is positioned to benefit from the growing demand in the AI infrastructure space, particularly in connectivity solutions [3] Group 3: Strategic Developments - The company announced the appointment of Desmond Lynch as the new finance chief, effective March 2, while the current finance chief Mike Tate will transition to a strategic advisor role [3] - Astera Labs issued a new warrant for Amazon to purchase approximately $466 million in the company's stock, indicating strong investor interest [4] - The establishment of a new research and development center in Israel aims to tap into the local talent pool, addressing resource availability challenges [5] Group 4: Market Position - Astera Labs has established partnerships with major companies such as Nvidia, AMD, Intel, and Amazon, enhancing its market presence in the semiconductor industry [5] - The CEO noted that the shift in bottlenecks from compute to connectivity presents significant growth opportunities for the company [3]

Core Insights - The Federal Communications Commission (FCC) has approved Amazon's request to deploy an additional 4,500 satellites, increasing its planned constellation to approximately 7,700 low Earth orbit satellites to compete with SpaceX [1][3] Group 1: Satellite Deployment - Amazon has launched over 150 satellites since April using various rocket providers, aiming to provide satellite internet through its service called Leo later this year [2] - The next generation of satellites will operate at altitudes of about 400 miles, supporting more frequency bands and extending geographic coverage [3] - Amazon is required to launch 50% of the approved satellites by February 10, 2032, and the remaining by February 10, 2035 [3] Group 2: Project Challenges - Amazon is facing a deadline to deploy 1,600 first-generation satellites by July 2026 but has requested an extension to July 2028 due to delays, including a shortage of rockets [4] - The company claims it is producing satellites faster than competitors can launch them, having invested $10 billion in the project [5] Group 3: Financial Outlook - Amazon expects to spend an additional $1 billion on the Leo constellation this year, with over 20 launches planned in 2026 and more than 30 in 2027 [6] - The next Leo mission is scheduled for Thursday, with an Arianespace rocket set to launch 32 satellites into orbit [6]

Core Viewpoint - The FDA's refusal to review Moderna's application for its experimental flu shot, mRNA-1010, reflects a tightening of vaccine regulations influenced by the Trump administration, despite no identified safety or efficacy issues with the vaccine [1][2][4]. Group 1: FDA's Decision and Moderna's Response - The FDA's decision is inconsistent with prior feedback received by Moderna before the application submission and phase three trials [2]. - Moderna has requested a meeting with the FDA to clarify the path forward regarding the application [2]. - The FDA objected to the study design of the clinical trial, which was previously approved, without citing specific safety or efficacy concerns [2][4]. Group 2: Clinical Trial and Regulatory Context - Moderna's flu shot demonstrated positive phase three data last year, achieving all trial goals, and is considered crucial for developing a combination vaccine for influenza and Covid-19 [3]. - The FDA criticized Moderna's choice to compare its vaccine to a standard approved flu shot, stating it did not meet the definition of an "adequate and well-controlled" trial [5]. - Moderna disputes the FDA's reasoning, asserting that existing FDA rules do not mandate the use of the most advanced vaccine as a comparator in clinical studies [5]. Group 3: Future Expectations and Leadership Comments - Moderna anticipates that the earliest approval for its flu shot could occur in late 2026 or late 2027, pending regulatory reviews in multiple regions [6]. - The CEO of Moderna expressed that the FDA's decision does not align with the goal of enhancing U.S. leadership in innovative medicine development [6].

Core Insights - Lyft's stock fell 15% in after-hours trading following disappointing fourth-quarter results [1] - Revenue increased by 3% year-over-year, with bookings rising 19% to $5.07 billion, aligning with Wall Street estimates [1] - Net income reached approximately $2.76 billion, translating to $6.72 per share [1] Financial Performance - Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) are projected to be between $120 million and $140 million for the current quarter, below analysts' expectations of $139.8 million [2] - Revenue for the fourth quarter was reported at $1.59 billion, compared to the expected $1.76 billion [5] Operational Metrics - Active riders totaled 29.2 million, falling short of the StreetAccount estimate of 29.5 million [3] - Total rides amounted to 243.5 million, which was below the FactSet estimate of 256.6 million [3] Strategic Initiatives - The board approved up to $1 billion in additional share buybacks, indicating a commitment to returning value to shareholders [4] Market Context - Recent legislation in California that reduced insurance costs contributed to lower rideshare prices, which the company believes will eventually drive increased demand [2][3]

Core Viewpoint - Ford Motor is expected to report a decline in revenue and adjusted earnings per share for the fourth quarter and year-end results, reflecting challenges in its business operations [2][3]. Financial Performance - The anticipated results indicate a 6.8% decline in revenue compared to the previous year, with adjusted earnings per share expected to fall by more than 50% [2]. - For the fourth quarter of 2024, Ford's automotive revenue is projected to be $44.9 billion, with a net income of $1.8 billion, translating to 45 cents per share, and adjusted earnings before interest and taxes of $2.1 billion, or 39 cents per share adjusted EPS [2]. Special Items and Charges - Ford's fourth-quarter results will include significant one-time charges, such as $600 million related to adjustments in postretirement benefits and a majority of $19.5 billion associated with restructuring its business priorities and reducing investments in all-electric vehicles [3]. - Automakers typically exclude these "special items" from adjusted financial results to provide a clearer view of ongoing business operations [3]. Business Outlook - Investors are keenly awaiting updates on Ford's business plans and forecasts for 2026, as well as production updates for its F-Series pickup trucks, particularly following a supplier fire that has affected operations [4].

A 'now hiring' sign is displayed in a business's window in Manhattan on Jan. 9, 2026, in New York City.Spencer Platt | Getty ImagesThe jobs report Wednesday could resemble a big nothing, in more ways than one.Economists expect that January's nonfarm payrolls report will show growth that was nil or not much better during the month. On top of that, annual revisions also could reveal that the U.S. economy going back to early 2024 had generated few if any net jobs, casting further doubt on the health of the lab ...

A multibillion-dollar crypto asset manager cites several reasons for the bitcoin plunge, but he's listing "the four-year cycle" as the No. 1 downward catalyst.According to Matt Hougan, chief investment officer at Bitwise Asset Management, it's a phenomenon that's happened three other times in the crypto market."People are looking for one thing to blame for the current retracement in bitcoin. But there is not any one thing to blame," he told "ETF Edge" on Monday.Hougan contends investors have been favoring o ...