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Halftime Report
Stocks React to the Jobs and Inflation Data 12/8/23
Dec 8, 2023
Jenny Harrington and Steve Weiss debate on retail. Joe sells shares in JPMorgan, Uber, and Broadcom. Jim Lebenthal discusses Paramount’s pop on potential takeover.
45:46
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Quick takeaways
- The market's reaction to jobs and inflation data is being closely watched ahead of the next Fed meeting.
- Morgan Stanley downgraded Qualcomm and Lamb Research, indicating a shift in their views on the semiconductor industry.
Deep dives
Honeywell to Acquire Carrier's Security Business for $5 Billion
Honeywell has announced plans to acquire Carrier Global's security business for approximately $5 billion. This move will allow Carrier to focus on its HVAC growth and pay down debt with the proceeds. The deal values Carrier's security unit at a multiple of 17 times EBITDA, indicating that Carrier's valuation is below the market average. With solid earnings growth expected for Carrier in the coming years, this acquisition highlights the undervalued nature of the company.
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Discover
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