Nippon Steel weighing 'bold' change to US Steel buyout bid, government official says. (00:27) TSMC expects Q1 revenue near lower end of guidance due to earthquake in January. (01:29) Boeing plans to cut 400 employees from moon-rocket program. (02:35)Episode transcripts seekingalpha.com/wsb.Show links: Biggest stock movers Monday: BP, X, and moreDisney beginning to worry about costs of Disney vacations: reportHere's why one economist sees no Fed rate cuts this yearFed rate hike could come as early as June: Apollo’s chief economistFind out more about Seeking Alpha's Virtual Analyst Reports here.
Chapter 1: What are Nippon Steel's plans regarding US Steel's acquisition?
Nippon Steel is considering a bold change in plans from its previous approach of seeking to buy U.S. steel. According to Reuters, Japan's cabinet secretary said Monday that the revision would create a win-win situation for both Japan and the U.S. through significant investments and the production of high-quality products sought by the U.S. and global markets.
Chapter 2: How does the US government view Nippon Steel's actions?
President Trump said on Friday that Nippon Steel's buyout attempt of U.S. Steel would take the form of an investment instead of a purchase, although the Japanese steelmaker reportedly has not yet withdrawn its bid. The president also said on Sunday that no one can take a majority holding in U.S. Steel and that the U.S.
Chapter 3: What is the impact of tariffs on US Steel's market performance?
will impose 25% tariffs on all steel and aluminum imports on top of existing duties. with specifics to be announced today. U.S. Steel is up 7% in pre-market action after falling nearly 6% on Friday. Taiwan Semiconductor Manufacturing said it expects revenue for Q1 2025 to be closer to the lower end of the guidance range of $25 and $25.8 billion due to the earthquake that occurred in January.
Chapter 4: How has the earthquake affected TSMC's Q1 revenue expectations?
The chipmaker estimates losses from the earthquake to be about $161 million after insurance claims. The company maintains a Q1 gross profit margin between 57% and 59%. and an operating profit margin between 46.5% and 48.5%. TSMC said that it is working to recover the lost production and there is no change to its full-year outlook.
Chapter 5: What are TSMC's financial projections despite the earthquake's impact?
The company said in a statement that a certain number of wafers in process were impacted and had to be scrapped due to the earthquake and aftershocks. They added that there was no structural damage. The chipmaker reported consolidated January net revenue rose 5.4% from the previous month, climbing 35.9% year over year.
Chapter 6: How did TSMC's January performance compare to previous months?
Boeing over the weekend said it was cutting staff in its space launch system that is part of NASA's Artemis program to bring humans back to the moon for the first time in 50 years. The aviation giant said it expects to eliminate 400 jobs amid revisions to the program and its costs. Affected employees will receive 60-day notices of the involuntary layoffs in the coming weeks.
Artemis' launches were estimated to cost $93 billion through 2025. Of course, I have a look for you at what's trending on Seeking Alpha. Disney is reportedly beginning to worry about the cost of Disney vacations. We also have a look at why one economist sees no Fed rate cuts this year.
And keeping with the same topic of the Fed and rates, Apollo's chief economist said a Fed rate hike could come as early as June. On our Catalyst, watch for the day. Trading around DraftKings, Flutter Entertainment, and BetMGM could be impacted by the results of the Super Bowl and the implied hold rates for sportsbooks. And McDonald's will hold its earnings conference call.
Lamb Weston trades in tandem with McDonald's more than 80% of the time after earnings. Yum! Brands and Restaurant Brands International also have strong trading correlations with MCD following earnings. Now let's take a look at the markets today ahead of the opening bell. Dow S&P and Nasdaq futures are in the green. Crude oil is up 1.3% at $71 a barrel. Bitcoin is up 1% at $97,000.
In the world markets, the FTSE 100 is up 0.6% and the DAX is up 0.1%. BP is on our list of the biggest movers of the day pre-market. BP is up 7% following reports that activist investor Elliott Management has acquired a stake in the oil major. We first told you about this stake yesterday, Sunday, on Wall Street Brunch with Kim Kahn.
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That's it for today's Wall Street Breakfast. Thank you so much for listening. I'm Julie Morgan. Go out and make it a great day.
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