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- Toyota Shoots for the Stars
Hello, Cash Nutters!
Here’s what’s Nutting today:
🚀 Toyota is shooting for the stars (literally) with a bold space venture.
🛡️ The US blacklists Tencent and CATL amid growing tech tensions.
💊 Walgreens surprises Wall Street with a healthy dose of optimism.
🔥 Wildfires rage on in LA, with devastating economic losses.
Plus, we've got a full round-up in Other News, from Macy’s store closures to BYD’s global EV push.
🚀 Toyota's Next Stop? Outer Space!
“From roads to rockets, Toyota’s journey takes a cosmic leap.”
Toyota, the automotive giant, is accelerating into the space industry. Teaming up with Japanese startup Interstellar Technologies Inc. (IST), Toyota is ready to apply its legendary mass-production magic to rocketry. At CES 2025, its subsidiary, Woven by Toyota, announced a ¥7 billion ($44.4 million) investment to revolutionize the high-cost, low-scale world of space launches.
Why it matters:
While competitors like Volkswagen are facing layoffs and cost cuts to save €4 billion, Toyota is aiming for the stars—literally. The automaker’s pivot includes partnerships with JAXA for lunar rovers and ambitions to bring down rocketry costs with automotive-style manufacturing techniques. With this bold move, Toyota hopes to disrupt a market dominated by SpaceX, Blue Origin, and NASA.
Bigger Picture:
Toyota's foray into space isn’t just a whim. Woven by Toyota—a tech and mobility innovator—is now 100% Toyota-owned and building futuristic projects like the Woven City smart town. While skeptics question whether an automaker can dominate space, Toyota’s track record suggests it might just pull it off.
🛡️ US Blacklists Tencent & CATL Amid Rising Tech Tensions
"Tech war: The US targets Chinese titans."
The US Department of Defense has turned up the heat on China by blacklisting tech juggernauts Tencent and CATL, Tesla’s top battery supplier. Accused of aligning with Beijing’s military strategies, these firms now face operational restrictions in the US.
What’s Happening:
The Pentagon’s designation reflects escalating tech decoupling between the US and China. By targeting Tencent, known for gaming and WeChat, and CATL, a leader in EV batteries, the US sends a strong message about its stance on tech and defense.
The Fallout:
Tencent and CATL deny the allegations and are preparing legal battles. For Tesla and other global players, this move tightens supply chains, complicates partnerships, and raises geopolitical stakes. It's another chess move in a game where both nations are vying for tech dominance.
💊 Walgreens’ Turnaround? A Dose of Optimism
"A healthier outlook for Walgreens after tough times."
Walgreens Boots Alliance surprised Wall Street with a strong Q1 earnings report, posting adjusted earnings of $0.51 per share—smashing expectations of $0.37.
Behind the Numbers:
Sales: U.S. retail pharmacy sales hit $30.9 billion, exceeding the $29.1 billion forecast.
Challenges: Despite these gains, Walgreens reported a net loss of $0.31 per share due to store closures and restructuring.
Future Outlook: The company’s cost-cutting efforts ($1 billion) and store closures (1,200+ locations) are part of CEO Tim Wentworth’s revival strategy.
Investors seem convinced; shares rose 10% in premarket trading. Rumors of a potential sale to Sycamore Partners are swirling, but Walgreens remains tight-lipped.
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In Other News…
🛍️ JCPenney Joins Forces: Partnering with SPARC, JCPenney is co-launching Catalyst Brands, aiming to revitalize legacy brands like Forever 21 and Brooks Brothers.
💸 Quantum Computing Crash: Nvidia’s Jensen Huang warned about the long timeline for quantum computing profitability, wiping out $8B in sector market cap in a single day.
🌡️ China’s Inflation Hits Near-Zero: December's economic slowdown raises concerns about potential deflation, despite government efforts to boost spending.
🏠 Mortgage Rates Keep Climbing: The 30-year fixed mortgage rate approaches 7% for the fourth consecutive week, driven by higher bond yields and economic uncertainty.
🔥 LA Wildfires Rage On: With four blazes and over 2,000 structures destroyed, the economic toll has climbed to $20 billion, making this one of California’s costliest disasters.
🛍️ Macy’s Shutters 66 Stores: Macy’s plans to close dozens of locations to streamline operations and focus on digital growth, part of a larger cost-cutting strategy.
🚗 BYD Goes Global: China’s largest EV maker shipped 5,000 new energy vehicles to Europe, signaling its aggressive push into international markets.
🤖 Sam Altman Denies Allegations: OpenAI CEO Sam Altman refuted allegations of sexual abuse made by his estranged sister, calling them “entirely untrue” in a joint family statement.
📈 Jefferies Signals Wall Street Revival: Investment bank Jefferies tripled its quarterly profit as investment banking fees surged 73% and advisory revenue nearly doubled, marking a comeback after two years of sluggish dealmaking.
🚘 Rolls-Royce Bets on Bespoke: Luxury carmaker Rolls-Royce invested $370M in expanding its UK factory, meeting soaring demand for customized cars as bespoke content per vehicle grew 10% annually in 2024.
💻 Microsoft Tightens Up: Less than 1% of its workforce faces cuts as part of performance reviews, but with a $3T market cap, Microsoft isn’t feeling the pinch.
💡What else are we reading and seeing?
Indian companies are going public at record rates, and the hot IPO streak is expected to continue this year
694 companies filed for bankruptcy last year, the highest level of closures since 2010. Why?
Amazon’s advertising business is one of the company’s fastest-growing segments, which is why the online retailer is doubling down.
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