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'Work hard, stay loyal, and the system will reward you': the Boomer credo is a Gen X betrayal and a Millennial pipe dream

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Hundreds of Stanford students walked out of their grad ceremony to protest Google CEO’s commencement speech. It wasn’t all about AI

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'Work hard, stay loyal, and the system will reward you': the Boomer credo is a Gen X betrayal and a Millennial pipe dream

2

Current price of oil as of June 16, 2026

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Hundreds of Stanford students walked out of their grad ceremony to protest Google CEO’s commencement speech. It wasn’t all about AI
Features5 things

Detroit auto show and Obama on cybersecurity — 5 things to know today

By
Laura Lorenzetti
Laura Lorenzetti
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By
Laura Lorenzetti
Laura Lorenzetti
Down Arrow Button Icon
January 12, 2015, 8:25 AM ET
Photograph by Andrew Harrer — Bloomberg/Getty Images
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Good morning friends and Fortune readers.

Wall Street is having a good Monday morning. Stocks look set to move higher at the open after last week’s very volatile week — the Dow posted a triple-digit move in each of last week’s trading sessions. European indexes are higher, and Asian shares were mixed at the end of trading.

Here’s what you need to know to start your day.

1. Detroit auto show in high gear.

The annual Detroit auto show is in full swing today with presentations from the CEOs of top car companies, including Fiat Chrysler, GM (GM), Ford (F), Nissan and Tesla (TSLA). About 40 vehicle introductions are expected today, including some entirely new designs as well as variants of existing models. GM will reportedly reveal a new electric vehicle with a style and price-point that can compete with the forthcoming Tesla Model 3.
[fortune-brightcove videoid=3980141250001]

2. Big pharma buyouts.

Two pharmaceutical companies announced big acquisitions Sunday evening. Switzerland’s Roche will pay $1.03 billion for Foundation Medicine (FMI), a biotech company that matches cancer patients with the best treatments. Meanwhile, Ireland-based Shire doled out $5.2 billion to buy NPS (NPSP), a New Jersey-based drug maker that specializes in gastrointestinal diseases. It’s Shire’s first deal following its failed attempt to sell itself to AbbVie (ABBV) last year.

3. Goldman sees oil going even lower.

Goldman Sachs (GS) has released a report that predicts U.S. crude oil will fall to $39 a barrel and the global standard will drop as low as $43 in six months before prices bounce back toward the end of the year. Much of the decline in oil prices is due to increasing inventories over the first half of this year. The price of oil futures declined even further below $50 this morning.

4. Obama digs in on cybersecurity.

President Obama will discuss three new proposed laws today that seek to help protect consumer data and privacy in the digital age. The proposals include a regulation that would require companies to tell consumers within 30 days if their data have been compromised. Obama will present his proposal at the Federal Trade Commission at 11:55 a.m. ET today, though Congress would still need to approve any legislation.

5. Another earnings season kicks off.

Another earnings season kicks off later this afternoon when aluminum giant Alcoa (AA) issues is results for the fourth quarter of 2014. The company’s 2015 aluminum demand forecast is a must-watch and will provide a sneak peak into what businesses are expecting for this year’s economy. Analysts expect Alcoa’s earnings-per-share to reach 25 cents on sales of $6.05 billion. Earnings season will start to perk up later this week, on Wednesday morning, when JPMorgan (JPM) and Wells Fargo (WFC) report their fourth-quarter results.

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