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Chapter 1: What is the significance of Danaher's $10B acquisition of Masimo?
Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. It's good to have you here on this Tuesday, February 17th. I'm Julie Morgan. Massimo is up 32% in pre-market action. Danaher is nearing a roughly $10 billion deal to acquire the medical technology firm.
The Financial Times reported, citing people familiar with the matter, that a deal could be announced as early as today, provided it does not hit any last-minute snags. The deal value represents a premium to its nearly $7 billion market cap at Friday's close. Massimo manufactures pulse oximeters, which measures blood oxygen levels.
Chapter 2: How is Elliott Investment Management influencing Norwegian Cruise Line?
The company has challenged Apple over breaching its patents in a long-running intellectual property dispute over the Apple Watch. The Massimo deal could be Danaher's biggest acquisition in more than half a decade. Massimo's stock has declined by 27% over the past year. Danaher is down 4% pre-market.
Chapter 3: What are the allegations against Costco regarding its rotisserie chicken?
Activist investor Elliott Investment Management has bought over a 10% stake in Norwegian Cruise Line Holdings, positioning it as one of the company's largest shareholders. The Wall Street Journal reported citing sources familiar with the matter, that Elliott intends to advocate for major operational and strategic changes to address underperformance.
The cruise company has fallen behind competitors, with its shares down nearly 4% year-to-date, compared to gains of 4.5% for Carnival and 15% for Royal Caribbean. Norwegian shares sank on week Q3 results and forecasts amid worrying cruise industry trends.
It's important to note that the company recently appointed a new CEO, the former CEO of Subway and Burger King, as president and CEO effective February 12th of this year, replacing Harry Sommer.
Chapter 4: What are the latest trends in the podcasting industry?
Costco is reportedly facing a new lawsuit over its rotisserie chicken. The proposed class action lawsuit filed on Thursday cited a December study from an animal rights nonprofit alleging that the company's Nebraska chicken processing plant, has ongoing salmonella contamination issues.
The complaint said that Costco's failure to control salmonella in its chicken supply is not a harmless technicality.
Chapter 5: How is Michael Saylor adapting his strategy for Bitcoin's volatility?
It poses a real danger to consumers and violates their trust. The plaintiff, Lisa Taylor of Afton, Missouri, said she routinely bought one or two rotisserie chickens a month at Costco warehouses in the St. Louis area and believes she overpaid because Costco did not disclose the contamination risk.
Costco said at its annual meeting last month that its rotisserie chicken sales top 157 million worldwide in 2025. The rotisserie chicken is one penny shy of five bucks. Now for a look at a few other articles that are trending.
Chapter 6: What economic indicators are being released today?
Apple is adding integrated video podcasts taking on Spotify and YouTube. Michael Saylor's strategy says it can weather a Bitcoin drop to $8,000 while covering debt. The Wall Street Journal is reporting that Goldman Sachs will drop its DEI criteria for its board. And SpaceX is reportedly competing in a Pentagon contest for autonomous drone tech. A few items on our Catalyst watch.
Sunoco Products Company will hold an Investor Day event in New York City. Radware will hold an Investor Day event also in New York City. And the three-day Barclays Industrial Select Conference will begin. Union Pacific, JetBlue Airways, Jacobs, and Canadian Pacific Kansas City are some of the notable companies participating. On Wall Street, Dow, S&P and Nasdaq futures are in the red.
Crude oil is down 0.5% at $63 a barrel. Bitcoin is down 1.3% at $67,000. Gold is down 1.2% at $49.28. The FTSE 100 is up 0.3% and the DAX is also up 0.3%. and the markets in China and Hong Kong were closed for the Lunar New Year holiday. Zim Integrated Shipping is on our list of the biggest movers of the day pre-market.
ZIM Zim is up 36% after Hapig Lloyd agreed to acquire the shipper for $35 per share in cash, a 58% premium that values the company at about $4.2 billion. And on today's economic calendar at 8.30 a.m., the Empire State Manufacturing Index and at 10 a.m., the Housing Market Index. That's it for today's Wall Street Breakfast. Thanks for listening.
To take full advantage of Seeking Alpha with coverage on significant stocks and ETFs, become a premium subscriber. Check out seekingalpha.com slash subscriptions. I'm your host, Julie Morgan. Go out and make it a great day.
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