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☆ Stocks making the biggest moves midday: Digital World Acquisition Corp., Boeing, Disney and more
▼ + stars: | 2024-03-25 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

Masimo — The medical technology company climbed nearly 5%. Wells Fargo upgraded the stock to overweight from equal weight in light of the news. Super Micro Computer — The chip stock jumped nearly 10% after JPMorgan initiated coverage of the high-flying name. Foot Locker — Shares jumped 7% after Evercore upgraded shares to outperform from in line. Digital World Acquisition Corp. — The special purpose acquisition company leapt 26% after shareholders approved a merger with former President Donald Trump's social media company Trump Media & Technology Group, which owns Truth Social.

Persons: David Calhoun, Larry Kellner, Masimo, Wells Fargo, Samik Chatterjee, Chipmakers, Nelson Peltz's, Bob Iger, Evercore, Foot, Wedbush, GameStop's, Donald Trump's, Alex Harring, Jesse Pound, Hakyung Kim, Pia Singh, Sarah Min Organizations: Boeing, JPMorgan, Department of Energy, Semiconductor, Micron Technology, Nvidia, VanEck Semiconductor, Disney, Barclays, Fund Management, Mizuho, GameStop, Trump Media & Technology Group, Trump Media, United Airlines —, Reuters, U.S . Federal Aviation Administration, United Airlines Locations: Wells, Cleveland, Department of Energy . Cleveland, Ohio, Pennsylvania

☆ There will be record CEO turnover this year, says top PwC boss
▼ + stars: | 2024-01-18 | by ( Lakshmi Varanasi | Cadie Thompson | ) www.businessinsider.com time to read: +4 min

Expect to see a record rate of CEO turnover this year, PwC's Tim Ryan said at Davos. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . "We will see more turnover in the C-Suite in the next 12 months than we have ever," Tim Ryan, PwC senior partner, told Business Insider at the World Economic Forum in Davos , Switzerland this week. CEO turnover is already high. AdvertisementCorrection: Thursday, January 18, 2024 — This article has been updated to reflect Tim Ryan's current title, which is senior partner at PwC.

Persons: PwC's Tim Ryan, —, Tim Ryan, PwC, Ryan, you've, You've, isn't, Gray, Chris Licht, GameStop's Matthew Furlong, Jeff Shell, Ron Shaich, Tim Ryan's Organizations: Davos, Service, Economic, NBC, Economic Policy Institute, East Locations: Davos, Switzerland, PwC

☆ George Santos rode the meme stock wave, buying and selling Gamestop and AMC stocks like a WallStreetBets regular
▼ + stars: | 2023-11-16 | by ( Madison Hall | ) www.businessinsider.com time to read: +2 min

The House Ethics Committee released a report regarding its investigation into George Santos. Included in its hundreds of pages of evidence are documents showing stocks Santos once traded. It appears he bought and sold stocks of GameStop and AMC when it en vogue. Buried in "Exhibit 58" of the committee's "Appendix D Part 5" is a selection of tens of thousands of dollars worth of GameStop and AMC Entertainment stock trades Santos reported making in 2021. AdvertisementIn early 2021, hobby stock traders from the "WallStreetBets" subreddit purchased stocks in GameStop en masse after learning investors had begun to short it.

Persons: George Santos, —, Santos, It's, subreddit, Hermes Organizations: Santos, GameStop, AMC, Service, GOP Rep, House, AMC Entertainment Locations: Santos

☆ GameStop's survival demands 'extreme frugality,' CEO Ryan Cohen tells employees
▼ + stars: | 2023-09-28 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +4 min

Just hours after being named GameStop 's CEO, Ryan Cohen sent out a memo to employees Thursday that emphasized he will take dramatic steps to ensure the struggling video game retailer survives. I expect everyone to treat company money like their own and lead by example." Cohen, a billionaire activist investor and founder of direct-to-consumer pet food and supply retailer Chewy , was named the company's new leader Thursday morning. Cohen's CEO announcement previewed the company's emphasis on slashing costs: He will not receive a salary in his new role. I expect everyone to treat company money like their own and lead by example.

Persons: Ryan Cohen, " Cohen, Cohen, Matt Furlong, Mike Recupero, Furlong, Ryan, CNBC's Gabrielle Fonrouge Organizations: GameStop, CNBC, RC Ventures Locations: Grapevine , Texas

GameStop said Thursday morning that billionaire activist investor Ryan Cohen would take over as the video game retailer's chief executive, chairman and president effective immediately — and he won't be collecting a salary. GameStop's board, with Cohen abstaining, unanimously voted to appoint the entrepreneur as the retailer's top executive on Wednesday. Cohen had previously held the title of executive chairman but will step down from the role upon his latest appointment, according to a securities filing. Cohen won't "receive any compensation" for his work, a news release said. The move comes more than three months after GameStop fired CEO Matthew Furlong, made Cohen executive chairman and appointed longtime company soldier Mark Robinson as its "principal executive officer" and general manager.

Persons: Ryan Cohen, Cohen, Matthew Furlong, Mark Robinson, Furlong, Diana Saadeh, Jajeh Organizations: GameStop

☆ GameStop names billionaire Ryan Cohen as CEO in turnaround push
▼ + stars: | 2023-09-28 | by ( ) www.reuters.com time to read: +2 min

Traders work under signage for GameStop Corp. (NYSE: GME) on the trading floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S., August 8, 2022. REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsSept 28 (Reuters) - GameStop (GME.N) on Thursday named billionaire Ryan Cohen as its CEO and chairman on Thursday, tightening the activist investor's grip on the ailing brick-and-mortar videogame retailer that he intends to turn around. Gamestop said he will relinquish that title and will not receive any compensation for his new roles. Cohen arrived at GameStop after building online pet products retailer Chewy into a powerhouse that he sold for $3.5 billion in 2017. The billionaire had initially tried to steer GameStop aggressively toward a more online-focused model as the chain, dependent on physical stores, looked to revive its business.

Persons: Andrew Kelly, Ryan Cohen, Cohen, Matt Furlong, Jenna Owens, Michael Recupero, Furlong, Aditya Soni, Arun Koyyur Organizations: GameStop Corp, New York Stock Exchange, REUTERS, GameStop, Gamestop, Bed, Nordstrom Locations: Manhattan , New York City, U.S, Bengaluru

REUTERS/Brendan McDermid Acquire Licensing RightsSept 6 (Reuters) - GameStop (GME.N) on Wednesday beat Wall Street estimates for quarterly revenue and posted a smaller-than-expected loss, buoyed by strong demand for videogames, collectibles and consoles. The company's shares rose nearly 6% in extended trading as the results indicated that efforts to boost its digital presence were paying off. Sales of software and collectibles contributed to about 49% of total revenue in the second quarter, the company said. Revenue rose about 2% to $1.16 billion for the quarter ended July 29, GameStop said, topping estimates of $1.14 billion, according to three analysts polled by LSEG. On an adjusted basis, GameStop lost 3 cents per share, compared with analysts' estimates of a loss of 14 cents.

Persons: Brendan McDermid, Ryan Cohen, John Oh, Akash Sriram, Sriraj Organizations: GameStop, New York Stock Exchange, REUTERS, Wednesday, Wall, Gamers, Activision, Arts, LSEG, Thomson Locations: New York City, U.S, Bengaluru

Here are some charts illustrating what has changed, and what has not, in meme stocks. Data from JPMorgan illustrate how quickly sentiment can turn among individual investors, who have been among the key drivers of moves in meme stocks. Retail investors sold a net $852 million in single stocks in the past week. The Roundhill MEME ETF (MEME.P), which tracks the performance of a basket of meme stocks, is down about 55% from where it started trading in December 2021, though up about 38% for the year. A quick rise, often followed by a rapid descent, is a fate common to meme stocks of both the past and present.

Persons: Brendan McDermid, Marco Iachini, Vanda's, Iachini, Jonathan Krinsky, Tupperware, Saqib Iqbal Ahmed, Laura Matthews, Ira Iosebashvili, Jamie Freed Organizations: New York Stock Exchange, REUTERS, GameStop, Tupperware Brands, Corp, JPMorgan, Vanda Research, Retail, Global, Reuters, AMC Entertainment, Thomson Locations: New York City, U.S

☆ CNBC Daily Open: How quickly prospects change
▼ + stars: | 2023-06-08 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +4 min

Kevin Mazur | Getty Images Entertainment | Getty ImagesThis report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. U.S. Treasury Secretary Janet Yellen told CNBC she wouldn't be surprised if more banks start to consolidate, given the increased pressures on the banking system. The bottom lineProspects — for both firms and markets — changed as quickly and suddenly as the haze engulfed New York. Smaller companies are more sensitive to economic conditions because they tend not to have the financial heft to defy a downturn.

Persons: Chris Licht, Kevin Mazur, Janet Yellen, wouldn't, Yellen, Elon Musk, Licht's, Donald Trump, Matthew Furlong, Ryan Cohen, Cohen, GameStop's, Russell, That's, LPL, Quincy Krosby Organizations: CNN Worldwide, Warner Bros, Madison, Garden, Getty, CNBC, Dow Jones, Treasury, Millionaires, CNBC Millionaire Survey, Warner Bros Discovery, CNN, GameStop, Big Tech, Microsoft, Google, Nvidia, Qualcomm, Nasdaq Locations: New York City, U.S, Mongolia, New York

☆ CNBC Daily Open: Winds of change are blowing, but the haze remains
▼ + stars: | 2023-06-08 | by ( Yeo Boon Ping | ) www.cnbc.com time to read: +1 min

This report is from today's CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Chris Licht relinquished his position as CNN's CEO and left the company, Warner Bros Discovery, the parent company of CNN, said Wednesday morning. So it was perhaps not surprising that investors were relieved by his departure, as indicated by the 8.43% jump in Warner Bros ' shares. Cohen is known as "the god figure of the meme-stock community," a Reddit user, who preferred to be anonymous for fear of retaliation, told CNBC.

Persons: Chris Licht, Licht's, Donald Trump, Matthew Furlong, Ryan Cohen, Cohen, GameStop's Organizations: Penn, Empire, CNBC, Warner Bros Discovery, CNN, Warner Bros, GameStop Locations: New York City, New York

☆ GameStop fires CEO and names Ryan Cohen as executive chairman
▼ + stars: | 2023-06-08 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGameStop fires CEO and names Ryan Cohen as executive chairmanCNBC's Melissa Lee and Steve Kovach join 'Power Lunch' to discuss Ryan Cohen stepping in as Gamestop's executive chairman.

Persons: Ryan Cohen, CNBC's Melissa Lee, Steve Kovach Organizations: GameStop

☆ How GameStop's Ryan Cohen became the 'meme king'
▼ + stars: | 2023-06-07 | by ( Amanda Winograd | ) www.cnbc.com time to read: +2 min

"I'm worried that when they see someone talking about how Ryan Cohen isn't god and their conspiracy theories aren't correct, they will see a target that needs to be taken down for the better good. And on this spectrum of delusion — because you must be delusional to believe in these conspiracy theories — there will be people on the extreme end of that delusion." The conspiracy theories Evan refers to can be traced to the beginning of the meme-stock movement in 2021 and to GameStop, the original meme stock. Prior to jumping into GameStop, Cohen had co-founded pet food retailer Chewy and then became an activist investor. Cohen "came across that he was on the side of retail investors," said Arfan, a Reddit user who invested in GameStop at the time.

Persons: Chewy, Ryan Cohen, Evan, I'm, Brandon, Cohen Organizations: GameStop, CNBC

☆ Ryan Cohen 'doesn't have the first clue' how to turn GameStop around, says Wedbush's Michael Pachter
▼ + stars: | 2023-06-07 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailRyan Cohen 'doesn't have the first clue' how to turn GameStop around, says Wedbush's Michael PachterMichael Pachter, Wedbush Securities, joins 'Closing Bell Overtime' to breakdown what GameStop's leadership shake up means for the future of the company.

Persons: Ryan Cohen, doesn't, Wedbush's Michael Pachter Michael Pachter Organizations: GameStop, Wedbush Securities Locations: Wedbush

☆ GameStop fires CEO, names Ryan Cohen executive chairman
▼ + stars: | 2023-06-07 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +1 min

GameStop fired its CEO Matthew Furlong and appointed its board chairman Ryan Cohen as executive chairman effective immediately, the company announced Wednesday. It said Cohen will be in charge of capital allocation and overseeing management. The decision to part ways with Furlong comes just months after GameStop reported its first quarterly profit in two years while he was at the helm. Shares of GameStop dropped more than 17% in extended trading after news of the termination was released. In GameStop's fiscal first quarter that ended April 29, GameStop reported revenue of $1.24 billion, down from $1.38 billion in the year ago period.

Persons: Matthew Furlong, Ryan Cohen, Cohen, Furlong Organizations: GameStop

☆ GameStop's Strategy
▼ + stars: | 2023-06-02 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailGameStop's StrategyGameStop will report quarterly earnings on Wednesday, June 7. Find out how the company – under chairman Ryan Cohen – has been handling its earnings calls a bit differently than traditional Wall Street. Watch Making of the Meme King on Tuesday, June 6 at 10pm ET on CNBC.

Persons: Ryan Cohen – Organizations: GameStop, CNBC

☆ Recasting the upcoming GameStop movie: Here's who should play Ken Griffin, Steve Cohen, and the rest of the gang
▼ + stars: | 2023-04-27 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

Wall Street is getting the Hollywood treatment again. - Paul Giamatti as AMC's Adam Aron (This guy knows his way around Wall Street.) For more on the upcoming GameStop movie, including who is set to play the "pot-smoking retail trader," click here. Here's why the rest of Wall Street might be motivated to help First Republic. Meet the new generation of the ultra-rich on Wall Street.

☆ GameStop's surprise profit triggers short squeeze, meme stocks rally
▼ + stars: | 2023-03-22 | by ( Medha Singh | ) www.reuters.com time to read: +3 min

AMC and GameStop were at the heart of a meme-stock frenzy in 2021 driven by small investors coordinating on social media. Among other highly shorted meme stocks, Koss Corp (KOSS.O) climbed 9.5%, Bed Bath & Beyond (BBBY.O) reversed course to slip 1.3%, while the Roundhill MEME ETF (MEME.P) rose 4.2%. "Luckily, this go around is not due to meme investors, but an actual tangible fundamental event," said David Wagner, portfolio manager at Aptus Capital Advisors. SOURING SHORT BETSWhen there is a rush of demand from short sellers looking to exit their bearish bets amid a rise in a stock's price, it pushes prices even higher, resulting in a short squeeze. Another favorite among retail investors - Carvana Co (CVNA.N) - jumped 22% after the used-car retailer said it expects a smaller core loss in the current quarter.

☆ Meme stock GameStop surges nearly 50% after it posted a surprise profit for the first time in 2 years
▼ + stars: | 2023-03-22 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

GameStop reported a surprise profit in the fourth quarter of 2022, boosting its share price. GameStop's share price surged nearly 50% in after-hours trade on Tuesday. GameStop skyrocketed in popularity in 2021 as investors used the WallStreetBets subreddit to pump so-called meme stocks. GameStop skyrocketed in popularity in 2021 as retail investors used the WallStreetBets subreddit to identify and pump the so-called meme stocks. GameStop share prices have come off since then but remain volatile.

☆ Don't chase meme stock GameStop here, says Jefferies
▼ + stars: | 2023-03-22 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

GameStop posted its first profitable quarter in two years, but the video game retailer still faces fundamental headwinds within its core business that will weigh on its stock, according to Jefferies. GME YTD mountain GameStop shares rallied Wednesday. Jefferies said software sales have been hurt by "the continued shift towards digital downloads and a lighter holiday release slate." And with 22.1% of GameStop's stock float being sold short, the short interest also could be boosting the share price Wednesday. When a stock is sold short , an investor borrows the shares with the hope the price will fall.

The retailer had been working to steer itself back to profitability, and got there in part by cutting costs. Selling, general and administrative expenses came in at $453.4 million for the quarter, or 20.4% of sales, compared to $538.9 million, or 23.9% of sales, in the year-earlier period. GameStop did not provide financial guidance and has not done so since the early days of the pandemic. For the quarter ended Jan. 28 , net sales dropped slightly to $2.23 billion from $2.25 billion in last year's fourth quarter. "GameStop is a much healthier business today than it was at the start of 2021," he said.

[1/2] A screen displays the logo and trading information for GameStop on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 29, 2022. REUTERS/Brendan McDermidMarch 21 (Reuters) - GameStop Corp (GME.N) on Tuesday posted a surprise profit for the fourth quarter, its first since early 2021, as lower costs and job cuts padded the videogame retailer's bottom line, sending its shares nearly 50% higher in extended trading. The retailer posted an adjusted profit of 16 cents per share, compared with Wall Street expectations for a loss of 13 cents. The so-called "meme stock", which is the top trending ticker on retail trader forum Stocktwits, has declined 4% this year. Net profit for the quarter ended Jan. 29 was $48.2 million, compared with a loss of $147.50 million a year earlier.

☆ Wall Street watchdog set to adopt rules aimed at GameStop-type risk
▼ + stars: | 2023-02-15 | by ( Douglas Gillison | ) www.reuters.com time to read: +2 min

The U.S. Securities and Exchange Commission (SEC) was also due to vote on whether to propose changing rules protecting client assets held by investment managers. Trade groups have broadly welcomed the commission's proposal to cut the so-called settlement cycle to a single business day from two, six years after an earlier SEC rule shortened the period from three days. GameStop's share price tanked after its earlier volatility resulted in a multi-billion-dollar margin call on trading platform operators such as Robinhood Markets Inc (HOOD.O). A shorter settlement cycle should see fewer defaults and thus help cut margin deposit costs, thereby reducing the chances of such a scenario recurring, according to the SEC. Reporting by Douglas Gillison; Editing by Megan Davies and Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.

☆ Ray Dalio's hedge fund nearly tripled its GameStop and AMC bets last quarter, while Bill Miller dumped Bed Bath & Beyond stock
▼ + stars: | 2023-02-14 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

The hedge fund nearly tripled its stake in the video-game retailer and the movie-theater chain. Meanwhile, Bill Miller's fund sold all of its remaining shares in Bed, Bath & Beyond. Dalio's Bridgewater Associates fund boosted its bets on GameStop and AMC Entertainment, while Miller Value Partners exited its Bed Bath & Beyond wager. Similarly, AMC shares surged from about $2 to over $59 during the first six months of 2021. For its part, Bed Bath & Beyond shares soared from under $4 in April 2020, to over $35 by January 2021.

Organizations: & $

☆ Investor Ryan Cohen builds Alibaba stake, pushes for more share buybacks
▼ + stars: | 2023-01-16 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +4 min

Jan 16 (Reuters) - Billionaire investor Ryan Cohen has built a stake in China's Alibaba Group (9988.HK) worth hundreds of millions of dollars and is pushing the e-commerce giant to increase and speed up share buybacks, people familiar with the matter said on Monday. In his communications, Cohen told Alibaba he thought the company could reach double-digit sales growth and nearly 20% free cashflow growth over the coming five years, according to the sources. Cohen felt the company's shares were undervalued at the time, according to the people, who declined to be identified because the investment is private. The people said that Cohen is eager to have a collaborative, long-term relationship with Alibaba and that he has praised management's capabilities. Over roughly the same period, Alibaba has steadily escalated its share buyback program.

☆ Exclusive: Hestia seeks to take control of Pitney Bowes board, oust CEO
▼ + stars: | 2022-12-12 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

Hestia, which scored big gains on a bet on GameStop (GME.N), plans to nominate more than five candidates for election to the nine-person board of Pitney Bowes early next year. Marc Lautenbach has been CEO of Pitney Bowes for a decade and Michael Roth, the chair, has served on the board since 1995. A representative for Pitney Bowes was not immediately available for comment. read moreWolf suggested that the Pitney Bowes board consider selling the company's Global Ecommerce segment if its results did not improve, Reuters reported. Hestia believes Pitney Bowes should focus on cash-generating segments such as Presort Services, its mail aggregation business, and SendTech Solutions, its postal-meter business.

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