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.
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Welcome to Seeking Alpha's Wall Street Breakfast, where we cover the top news for investors every morning. Good morning. It is so good to have you with us today on this Eagles Monday, February 10th. I'm Julie Morgan. Nippon Steel is considering changing its offer for U.S. Steel. TSM is updating its Q1 outlook, and Boeing is laying off workers in one program.
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.
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would take the form of an investment instead of a purchase, although the Japanese steelmaker reportedly has not yet withdrawn its bid.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.
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.
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.
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.
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.
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