⏱Not one, but two Unicorns?
90 Second News Issue #42
Happy Monday everyone! It’s going to be a good week, so go ahead and grab that coffee and get prepared to kill it!
As the Senate sessions closed last night, lawmakers appeared to be zeroing in on a new Covid relief bill that would allow Americans to receive up to $300 more in unemployment benefits per week. Unfortunately though, it does not include any plans for a direct payment at this point in time. The total package would be worth roughly $908 billion dollars, in between the $500 million number the Republicans were looking for, and the $2.2 trillion number that the Democrats were hoping for.
With companies like FedEx limiting packages for certain retailers, online shipping companies have begun to gear up for the rush. Experts have estimated that in the next month over 7.2 million packages will be shipped every single day. In an effort to get ahead of the curve, Amazon, who has hired over 275k people since the start of the year, will hire an additional 100k seasonal workers.
This is a big week in the stock market, as two different unicorns (a privately held company valued at more than $1bn) will be going public. DoorDash will be debuting on the NYSE on December 9th under the ticker $DASH for $90-$95 a share, and a valuation of $35bn. Airbnb will follow one day later under the ticker $ABNB for $44 to $50 a share, and a valuation of $35bn as well.
1:05- High stakes... chicken?
Chick-Fil-A, the largest US based chicken chain, filed a lawsuit on Friday accusing its poultry producers of price fixing. In the documents filed with a federal court in Illinois, Chick-Fil-A is alleging that Tyson Foods ($TSN), Pilgrim’s Pride ($PPC), Sanderson Farms ($SAFM), and Perdue Farms all collaborated together in an effort to reduce production and drive up prices. They’re not the first to sue those companies either, as corporations such as Kroger, Walmart, and Albertsons have all filed similar lawsuits.
1:27- Espresso style story
The NBA and the NBA Players association have agreed to suspend random marijunaa drug tests during the 2020-21 season. We’re sure JR Smith is happy about that one.
Have a great rest of your day, and we’ll see you tomorrow bright and early!
-The 90 Second News Team
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