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Faraday Future (FFIE) skyrockets with model reveals on tap for next week at CES. (00:29) Tempur Sealy (TPX) and Mattress Firm propose concessions to address FTC’s opposition. (01:51) Tel Aviv (OTCPK:TVAVF) poised to switch to Monday-to-Friday trading week – report. (02:45)
This is an abridged transcript of the podcast.
Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) soared 78% on Monday on reports that the Faraday Future FX prototype car will be unveiled next week.
The unveiling is expected at CES 2025 in Las Vegas on January 5-7. The company is also expected to provide a strategy update at CES.
In addition, the electric vehicle company announced that entrepreneur Luke Hans will take delivery of the first FF 91 2.0 Futurist Alliance EV in 2025 during a delivery ceremony with executives.
Hans was noted to have business interests spanning real estate, car rental, oil, pharmaceutical, and film production, with operations in China, Canada, and the U.S.
Hans was signed as a Faraday Future Developer Co-Creation Officer, and is expected to play a key role in supporting the company’s business development, product sales, and collaborative innovation efforts.
Last week, Faraday Future (FFIE) secured approximately $30 million in cash financing commitments. The funds will be used to accelerate the company’s growth and the development of Faraday X, FF’s strategy of launching affordable high performance AIEV equipped vehicles.
Premarket FFIE is up 18%.
Tempur Sealy International (NYSE:TPX) posted its largest one-day gain in over a month on Monday, rising 3.5% as the company took steps to address the Federal Trade Commission’s opposition to its $4 billion acquisition of Mattress Firm.
According to Bloomberg, the two companies pledged to make more retail space available to rival mattress suppliers if the FTC approves the merger, addressing concerns that a merger would create “enormous power” along the supply chain and give Tempur Sealy (TPX) “significant power” over rival mattress manufacturers.
The FTC wants to block the merger, citing “multiple deal documents” that show Tempur Sealy’s (TPX) plans to limit rivals’ access to Mattress Firm and lose access to the single most important retail channel.
A federal court’s decision on the merger is expected by January 30.
Israel’s finance minister said he’d approve the Tel Aviv Stock Exchange’s move to a Monday-to-Friday trading week, aligning it with international standards, according to a media report.
The change, expected to take effect at the beginning of 2026, will adjust the exchange’s hours from its current Sunday-to-Thursday schedule. However, trading would conclude on Fridays at 2 PM local time to allow for the observation of the Jewish sabbath at sunset.
“This move will make it easier for global investors to access the Israeli capital market, invest in our market without unnecessary barriers, and bolster the Israeli economy in the long term,” Israeli Finance Minister Bezalel Smotrich said in a statement, as reported by Reuters.
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Now let’s take a look at the markets as of 6 am. Ahead of the opening bell today, Dow, S&P and Nasdaq futures are in the green. Crude oil is up 0.6% at $71/barrel. Bitcoin is up 0.4 at $94,000.
In the world markets, the FTSE 100 is down 0.2% and the DAX is down 0.2%.
The biggest movers for the day premarket: ACADIA Pharmaceuticals (ACAD) is up 8% after news that it will enter the S&P SmallCap 600. Acadia Pharmaceuticals will replace Independent Bank Group (IBTX) in the S&P SmallCap 600 effective prior to the opening of trading on Friday, January 3, 2025.
On today’s economic calendar:
Editor’s Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.
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