Police are looking for in relation to a fatal shooting on Ponsonby Road

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Stuff can reveal the man police are looking for in relation to a fatal shooting on Ponsonby Road is Auckland local, Hone Kay-Selwyn, Disney Pares Streaming Losses, Takes Hit From India Deal, Next few months will be ‘critical’ for economy says Westpac NZ CEO.

Let's jump in.

Before The Bell

Markets

• Stocks advanced Monday, with Wall Street building on the previous session’s strong gains as traders lifted Federal Reserve rate cut expectations. (CNBC).

• Asia-Pacific markets climbed on Tuesday, extending gains from the previous session, as Wall Street rose overnight on expectations that the Federal Reserve will cut interest rates. (CNBC).

• Stocks traded higher on Monday, extending last week's gains, as a weaker-than-expected U.S. jobs report boosted prospects for an interest-rate cut from the Federal Reserve. (Barrons).

• Trust funds supporting Social Security and Medicare benefits for U.S. seniors showed slight improvement as stronger-than-forecast economic growth and productivity has boosted revenue collections, according to trustees' reports released by the U.S. Treasury on Monday. (Reuters).

• U.S. stocks closed higher Monday as the market looks to build on two consecutive weeks of gains amid hopes that the Federal Reserve could soon be in a position to cut interest rates. (Investopedia).

Earnings and Data

• With 80% of the companies in the S&P 500 done reporting, the benchmark index is pacing for 5% growth in first quarter earnings per share, per FactSet. This is the biggest year-over-year increase since the second quarter of 2022. (Yahoo).

• ANZ handed investors a A$2 billion buyback as first-half earnings missed estimates. The bank’s cash profit fell 7% to A$3.55 billion in the six months to March 31 from a year earlier, short of the A$3.63 billion average projection in a Bloomberg survey of analysts. (Bloomberg).

• Disney (DIS) is set to report earnings Tuesday for its second quarter of fiscal 2024 before the opening bell, with investors likely to be watching for streaming subscriber growth as the company works toward profitability in its streaming business. (Investopedia).

News Summary

• Stuff can reveal the man police are looking for in relation to a fatal shooting on Ponsonby Road is Auckland local, Hone Kay-Selwyn. (Stuff).

• The Ministry of Foreign Affairs and Trade says it is performing a “fundamental reset” of multi million dollar information technology project as a leaked report finds it has significant issues, including high staff turnover and relationship breakdowns. (Stuff).

• Next few months will be ‘critical’ for economy says Westpac NZ CEO. (Herald).

• After a desperate search for two Aussie brothers missing on a surf holiday in Mexico with an American friend, the families have been given the worst news. (NCA).

• The 2024 Met Gala has wrapped up after countless celebrities from Zendaya to the Kardashians took to the green carpet at the Metropolitan Museum of Art in New York decked out in their floral best, according to the dress code “The Garden of Time”. (Herald).

• Erin Patterson, 49, is facing three murder charges and two counts of attempted murder over the fatal beef Wellington meal in July last year, she has always maintained her innocence. (BBC).

• An accused serial killer in Canada, who police believed disposed of his victims by dumping some of them in landfills, has admitted to killing four indigenous women, with his lawyers arguing a mental disorder meant he was not criminally responsible for the crimes. (Guardian).

• Lando Norris finishes first after long road to top of F1, the McLaren driver’s maiden win in Miami underlined his world championship potential after a 19-year journey. (Guardian).

• Donald Trump has been given his starkest warning yet by the judge in his New York hush money trial that he could be thrown in jail if he keeps breaking a court-imposed gag order. (NCA).

Deal Flow

Investments / M&A

• US utility Allete goes private in $6.2 billion deal. (Reuters).

VC & Fundraising

• Steve Wozniak's space data start-up, Privateer, has raised $56.5 million and also acquired the analytics firm Orbital Insight, a merger that will add mapping and intelligence services to Privateer's space data offerings. (Reuters).

• Self-Driving Car Start-up Wayve Raises More Than $1 Billion From Investors Including SoftBank, Nvidia. (WSJ).

Equity Raises

• Group Holdings reported a 4% fall in interim profit, but boosted its dividend by almost 2.5% and announced a share buyback as its capital position remained strong. (WSJ).

Debt

• Disney Pares Streaming Losses, Takes Hit From India Deal. (WSJ).

Daily Picks

• Erin Patterson, 49, is facing three murder charges and two counts of attempted murder over the fatal beef Wellington meal in July last year, she has always maintained her innocence. (BBC).

• Lando Norris finishes first after long road to top of F1, the McLaren driver’s maiden win in Miami underlined his world championship potential after a 19-year journey. (Guardian).

• Donald Trump has been given his starkest warning yet by the judge in his New York hush money trial that he could be thrown in jail if he keeps breaking a court-imposed gag order. (NCA).

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