US futures sink after Trump targets allies with tariff threat over Greenland

💊 GSK to buy RAPT Therapeutics (RAPT) in $2.2 billion deal for promising food allergy therapy. RAPT stock surges in Pre-Market.

Britain’s GSK will acquire RAPT Therapeutics in a $2.2 billion deal, securing global rights to the US firm’s experimental food allergy drug ozureprubart for its respiratory and immunology portfolio.

The acquisition marks GSK’s first major deal under new CEO Luke Miels, as the company navigates US tariffs and looks to offset revenue declines from several top-selling drugs going off patent.

RAPT stock was up 60% in Pre-Market at time of going to press. Yahoo Finance reports.


🚆 Union Pacific and Norfolk Southern merger filing rejected by US regulator as incomplete

The proposed merger between Union Pacific and Norfolk Southern was sent back by the US Surface Transportation Board, which said the application was incomplete.

The regulator said the December filing lacked required information, including projections of future market share and the merger’s impact on competition.

While the railroad companies provided market-share data from 2023, the board said they did not include forward-looking projections showing expected traffic growth, diversions, and other market changes that could result from the merger. MarketScreener reports.


🧴 Betterware de Mexico to acquire Tupperware’s Latin America assets for $250 million

Betterware de Mexico said Monday it has signed an agreement to acquire Tupperware’s operating assets in Latin America, primarily in Mexico and Brazil, for $250 million.

Based on the company’s own estimates and due diligence, the implied acquisition multiples are expected to contribute roughly $0.58 per share to earnings, representing immediate earnings accretion of about 40% per share.

The debt taken on to finance the deal is likely to raise leverage to an estimated 1.9 times net debt to EBITDA in 2025, but the company said it does not expect the transaction to affect its current dividend policy. MarketScreener reports.


🏭 Micron breaks ground on $100bn megafab project in the US

Micron Technology has begun construction on its $100 billion memory manufacturing facility in Onondaga County, New York.

The site, planned to host up to four fabrication plants, is set to become the largest semiconductor complex in the United States.

The project is expected to create around 50,000 jobs statewide.

Company executives, including chairman, president, and CEO Sanjay Mehrotra, were joined at the groundbreaking by federal, state, and local officials, along with representatives from customers, suppliers, academic institutions, and community organisations. Yahoo Finance reports.


💵 Treasury yields rise to four-month highs after Japan selloff

Treasury yields climbed to their highest levels in more than four months as a sharp selloff in Japanese bonds spilled over into global debt markets.

Longer maturities led the move, with US 30-year yields rising nine basis points to 4.93% and 10-year yields up seven basis points to 4.29%, the highest levels since early September.

Trading resumed after a US holiday on Monday, with investors reacting to the plunge in Japanese bonds and rising tensions between Europe and the United States over control of Greenland. Yahoo Finance reports.


🤖 Inventec says decision on Nvidia’s H200 chip sales appears stuck on China’s side

Taiwanese server maker Inventec said on Tuesday that a decision on whether Nvidia will be able to sell its H200 artificial intelligence chip in China appears to be stalled on the China side.

The United States formally approved the chip for export to China last week, subject to certain conditions.

Reuters reported that Chinese customs authorities have told customs agents the H200 chip is not permitted to enter China, though it remains unclear whether this reflects a formal ban or a temporary measure. Yahoo Finance reports.


🔐 AlphaTON Capital (ATON) signs agreement to launch privacy-preserving AI agents for Telegram users. Stock climbs 35% in Pre-Market.

AlphaTON Capital announced a definitive agreement with the Midnight Foundation to bring fully privacy-preserving AI agents to the Telegram ecosystem, targeting nearly one billion monthly active users.

The partnership marks a first-to-market integration of a zero-knowledge blockchain with the TON ecosystem, enabling enhanced privacy and security for AI-driven applications.

Combined with AlphaTON’s recent deployment of infrastructure for Telegram’s privacy-centric Cocoon AI, the agreement positions the company to deliver vertically integrated, privacy-preserving AI products at global scale. Globe Newswire reports.

*Estimate and Actual numbers represent Earnings Per Share in US Dollars


SPWR: Complete Solaria
Q4 2025
Before Market Open
Estimate: -0.150
Actual: N/A

FAST: Fastenal
Q4 2025
Before Market Open
Estimate: 0.260
Actual: N/A

NFLX: Netflix
Q4 2025
After Market Close
Estimate: 0.550
Actual: N/A

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– Howard Marks

Sourced in: Howard Marks Memos – Oaktree Capital.

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