1. Asian Traders to Follow Cautious Wall Street Tone: Markets Wrap

    (Bloomberg) — Asian shares opened mixed Tuesday after US equities fell as the market pulled back from record levels. The yen strengthened on stronger-than-expected Japanese inflation data. Australian and South Korean stocks traded lower while Japanese shares had a slight advance early Tuesday. Futures for Hong Kong equities were slightly higher and those for US benchmarks.

  2. Japan’s Inflation Tops Forecasts, Supporting BOJ Rate Hike Bets

    (Bloomberg) — Japan’s benchmark inflation gauge topped estimates in January, supporting the case for the Bank of Japan to continue moving toward ending its negative interest rate policy. Consumer prices excluding fresh food rose 2% from a year ago, exceeding the consensus estimate of 1.9% and in line with the BOJ’s inflation target, figures from the internal affairs ministry Tuesday exceeded a consensus estimate of 1.9%.

  3. Disney Shuffles Film Leadership with Bailey Stepping Down

    (Bloomberg) — Walt Disney Co. is overhauling some of the leadership at its troubled movie division, replacing an executive who oversaw a string of disappointments with the head of Searchlight Pictures, the art-house film unit behind such critical successes as Poor Things. Sean Bailey, the longtime president of film production for Disney’s namesake studio, is being replaced by David Greenbaum, the company said Monday in a statement.

  4. Biden Hopes Gaza Cease-Fire Starts as Soon as Next Monday

    (Bloomberg) — President Joe Biden expressed hope negotiators would secure a temporary pause in the fighting between Israel and Hamas in the Gaza Strip, describing the talks as “close” and saying that a cease-fire could start as soon as next Monday. “My national security adviser tells me that they’re close, they’re close, they’re not done yet.

  5. Ukraine, Gaza Polarize G-20 as Global Money Chiefs Seek Sidestep

    (Bloomberg) — The world’s top economic policymakers figure they’ll have to steer clear of two conflicts convulsing global politics — the wars in Ukraine and Gaza — to make progress on anything else at this week’s G-20 summit in Brazil. There’s plenty more to talk about. The host nation is pushing ambitious plans on inequality and climate change. Finance ministers are keen to address trade and corporate taxation.

  6. Trump’s Favorability Rating Reaches Highest Since 2022

    (Bloomberg) — The average favorable rating for Donald Trump hit its highest level since before the 2022 midterm elections, as the former president marches toward a likely November rematch against a less popular Joe Biden. The RealClearPolitics average of polls shows 42% of voters say they have a favorable opinion of Trump, up from an all-time low of 36% in December 2022.

  7. Longtime Biden Aide Dalton to Leave White House for Apple

    (Bloomberg) — White House deputy press secretary Olivia Dalton, a longtime aide to President Joe Biden, is leaving her post for a role at Apple Inc., according to people familiar with the matter. Dalton will take on a communications job at the tech giant, the people said, speaking on condition of anonymity to discuss the move. Dalton didn’t respond to emails and text messages seeking comment.

  8. Hedge Fund Carlson Shrinks to One Office After Assets Fall 90%

    (Bloomberg) — Carlson Capital is shuttering its London office as part of a restructuring after the hedge fund’s assets dropped 90% to about $1 billion since 2016. The Dallas-based investment firm applied to cancel its authorization with the UK regulator Financial Conduct Authority, meaning it plans to stop doing business there within six months.

  9. Japan’s Second Transition Bond May See Tepid Demand on BOJ Risk

    (Bloomberg) — Japan will sell sovereign transition bonds for the second time on Tuesday, but investor demand may lag the debut deal as central bank officials send more signals that an interest-rate hike is coming. The finance ministry is planning to price about ¥800 billion ($5.3 billion) of five-year notes that fund efforts to reduce carbon emissions in industries at 12:35 p.m.

  10. Zoom Video Communications Inc’s shares were up 8% in extended trading after the video-conferencing software company provided a stronger-than-expected outlook.

    The company reported fourth quarter adjusted earnings per share of $1.42, beating estimates of $1.15. The full year earnings are expected to be between $4.85 and $4.88 per share, beating estimates of $4.71 per share. The management has also authorized a stock repurchase programme of up to $1.5 billion. The company announced its commitment to democratize artificial intelligence accessibility and intends to introduce new features on its platforms.

  11. Expedia Group Inc’s shares fell 0.99% after the company announced plans to eliminate around 9% of its workforce after announcing a leadership transition earlier this month.

    The Seattle-based company will reduce around 1,500 jobs across the globe so as to invest in core strategic areas for growth. Earlier this month, the company reported a downbeat holiday result and a weaker-than-expected outlook for the current quarter. However, the company is prioritizing boosting sales after spending the past two years on technical upgrades and revamping of its loyalty programme.

  12. Nestle shares fall 1.5% after Stifel cut its recommendation on the Swiss food maker to hold from buy. “The magic is gone,” analysts said, citing waning performance and little confidence it will improve in the short term.

    Analyst Pascal Boll (PT set to CHF106 from CHF125) sees more value elsewhere in staples. Underwhelming 4Q report adds to list of shortcomings. Mentions write-offs of Palforcia and Freshly, the investigations around Buitoni and mineral water in France, and the IT integration issues at NHS.

  13. Domino’s Pizza rises as much as 9.8% to the highest intraday since January 2022, after posting 4Q same-store sales growth for domestic stores and profits that topped estimates.

    The board approved a 25% increase in quarterly dividend and an additional $1b share repurchase program. FOURTH QUARTER RESULTS: Total domestic stores comp sales growth +2.8%, estimate +2.2%; Domestic franchise comparable sales growth +2.6%, estimate +2.11%; Domestic co-owned comparable sales growth +5.9%, estimate +2.56%; International same store sales growth of 0.1%; EPS $4.48 vs. $4.43 y/y, est. $4.38; Revenue $1.40 billion, +0.8% y/y, estimate.

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