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☆ 'Someone played this beautifully': Why one expert is suspicious of the latest meme-stock revival
▼ + stars: | 2024-05-15 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

Deep out-of-the-money call options saw an explosion in trading volume just before the return of "Roaring Kitty." AdvertisementThe recent explosion in meme stocks like GameStop and AMC Entertainment looks suspicious, according to one market expert. Aside from the call options, GameStop stock has been gaining since late April, jumping about 60% from April 24 through March 10 despite no fundamental news on the company. "A suspicious person might wonder why 'Roaring Kitty' chose to return to social media today. The SEC filings in BBBY were boilerplate, and the social media post literally had no words.

Persons: Steve Sosnick, —, Sosnick, Kitty, Ryan Cohen, Cohen, it's Organizations: GameStop, Interactive, Service, AMC Entertainment, Interactive Brokers, Yahoo Finance, SEC Locations: Bath

☆ We're tapping our large cash pile to buy more of this newer portfolio stock
▼ + stars: | 2024-04-16 | by ( Jim Cramer | ) www.cnbc.com time to read: +3 min

Our purchase of Best Buy is part of our gradual scaling up in this newer position. We've been buying Best Buy in anticipation of a rebound in the PC market as pandemic-era purchases near their replacement or upgrade windows. In addition, Best Buy management increased the payout by 2.2% this year — a good sign of confidence in the company's future. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Jim Cramer's, Jim Cramer, We've, Jim Organizations: BBY, Coterra Energy, Constellation Brands, Morning, IDC, CNBC Locations: Treasuries

☆ Billionaire Ryan Cohen's 2022 purchase and abrupt sale of Bed Bath & Beyond shares are being investigated by the SEC, report says
▼ + stars: | 2023-09-08 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +2 min

Meme-stock investor Ryan Cohen's 2022 trades in Bed Bath and Beyond's stock are being probed by the SEC, per the WSJ. The billionaire took a $120 million position in BBBY stock in early 2022, but sold it abruptly five months later. Cohen, who also chairs video game retailer and fellow meme stock GameStop, scored a profit of almost $60 million following the sale, the WSJ reported. "So meme stock investors conceivably understood Cohen's tweet to mean that Cohen was confident in Bed Bath and that he was encouraging them to act." In April 2023, Bed Bath & Beyond filed for Chapter 11 bankruptcy and closed hundreds of stores across the US.

Persons: Ryan Cohen's, Cohen, Ryan, Trevor McFadden, Cohen didn't Organizations: SEC, Service, Bed, Securities and Exchange Commission, Wall Street, GameStop, CNBC, Washington DC Locations: Bed Bath, BBBY, Wall, Silicon, Bath

☆ Bed Bath & Beyond shareholders left holding 'worthless stock' as bankruptcy hearing approaches
▼ + stars: | 2023-08-28 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

Jakub Porzycki | Nurphoto | Getty ImagesBed Bath & Beyond shares continue to trade at enormous volumes even as the wildly popular meme stock appears weeks away from being declared worthless. It also plans to adopt the company's stock ticker and change the current OSTK with BBBY in the hope of capitalizing on the long-standing household name. In its SEC filing in April, the company cautioned that trading in its stock during the ongoing Chapter 11 cases was "highly speculative and poses substantial risks." The company's planned confirmation hearing will take place on Sep. 12, but there have been no positive catalysts to the recent purchases of the company's shares. This would suggest that the current vast swathes of investors trading in the company's stock may be doing so purely on doomed speculation, and will be left empty handed.

Persons: Jakub Porzycki, Ryan Cohen Organizations: Nurphoto, Nasdaq, Overstock, BBBY, SEC, GameStop Locations: Williston , Vermont

☆ Bed Bath & Beyond is back from the dead
▼ + stars: | 2023-08-01 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +3 min

Brought back to lifeJohnson promised newness blended with familiarity for Bed Bath & Beyond customers in the latest digital-only version of the retailer. “It will have the same great bed, bath and kitchen items but it will also have a much bigger beyond,” he said. Fans of Bed Bath & Beyond’s 20%-off a single item “Big Blue” coupon will be somewhat disappointed that it will not be resurrected. “I guess what I would say about the coupon is that if you like Bed Bath & Beyond coupons in the past, you will like new Bed Bath & Beyond mobile app we will be rolling out with launch in US,” said Johnson. Bed Bath & Beyond“We’ll still be offering coupons even if they’re not as large as the 20% coupon that people expected and frankly demanded from Bed Bath & Beyond,” said Johnson.

Persons: Overstock.com, ” Jonathan Johnson, ”, Johnson, newness, Beyond.com, What’s, “, it’s, We’ll, Beyond’s Organizations: New, New York CNN, Bed, CNN, Beyond, US Locations: New York, ”, New Jersey

☆ SVB, BBBY, Lordstown lead list of US bankruptcies as companies fold up at the fastest pace since 2010
▼ + stars: | 2023-07-07 | by ( Joseph Wilkins | ) www.businessinsider.com time to read: +2 min

First-half US corporate bankruptcies surged to the highest level since 2010, data from S&P Global Market Intelligence shows. Almost 3,000 firms folded up in the last six months, a 68% jump from a year earlier, according to Epiq Bankruptcy. American businesses have come under increased stress after the Federal Reserve raised interest rates aggressively. Total company failures for the period surged 68% from a year earlier to almost 3,000, according to data provider Epiq Bankruptcy. Rising corporate bankruptcies are a worrying sign for the wider US economy, which is already under strain from the effects of the Fed's aggressive interest rate hikes.

Persons: —, David Rosenberg, Morgan Stanley, Mike Wilson, Gregg Morin Organizations: P Global Market Intelligence, Federal Reserve, Service, Valley, Bed, Lordstown Motors, Mediamath Holdings, Epiq, Business Development

☆ Bed Bath & Beyond went bankrupt and sold its brand. That hasn't stopped meme-stock fans from trading over $200 million of its shares in recent weeks.
▼ + stars: | 2023-07-05 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +2 min

Bed Bath & Beyond went bankrupt and sold its brand, but people are still placing bets on its stock. Investors have traded over $200 million worth of its likely worthless shares since early May. They've traded over $200 million worth of the homewares retailer's shares since early May, Yahoo Finance data shows, even though they're most likely worthless. Investors have traded an average of 24 million shares a day since then, per Yahoo Finance. Moreover, Overstock.com recently purchased BBBY's intellectual property for $22 million, and plans to rebrand itself under the Bed Bath & Beyond name.

Persons: —, They've, they're, Anthony Chukumba, that's, Overstock.com, Chukumba Organizations: Investors, Financial Times, Service, Yahoo Finance, New York Stock Exchange, Tesla, GameStop, Bed

☆ This map shows where Bed Bath & Beyond stores are being replaced by other retailers
▼ + stars: | 2023-06-29 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

"In aggregate the Bed Bath & Beyond locations were some of the best that I've seen become available. The leases are for both Bed Bath & Beyond and Buy Buy Baby locations. Leases for the Buy Buy Baby outposts could be clawed back depending on what happens at an auction for the chain's assets, Bed Bath said in a court filing. Bed Bath raked in $24.41 million in all from the lease auction. A portion of those proceeds will likely go to unpaid rents at the locations and the rest will go to Bed Bath to pay the retailer's many creditors.

Persons: BURL, Bill Read, Read, Macy's, Noble, they'd, weren't Organizations: Burlington Stores, Burlington, Specialists, Target, CNBC, Factory, Barnes, Bed Locations: Burlington, America, , Florida, Concord , North Carolina, Bed Bath, Bath

☆ Here are Friday's biggest analyst calls: Meta, Apple, Uber, Target, SoFi, Nike, Amazon, GM and more
▼ + stars: | 2023-06-23 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Friday's biggest calls on Wall Street: Morgan Stanley reiterates Apple as overweight Morgan Stanley said in a note Friday that it sees several reasons for share outperformance. Morgan Stanley upgrades Evotech to overweight from equal weight Morgan Stanley said the drug discovery and development company is well-positioned for artificial intelligence. As such we are upgrading to Market Perform with a $44 price target." Morgan Stanley reiterates Snowflake as overweight Morgan Stanley said it's bullish heading into the company's upcoming investor day. Barclays reiterates Uber as overweight Barclays raised its price target on Uber to $70 per share from $57 and says it's well-positioned.

Persons: Morgan Stanley, Apple, Stephens, KeyBanc, Wells, Armour, Wells Fargo, JPMorgan Chase, Valvoline, underperform SVB, Wayfair, Snowflake, it's, Uber, Roth, Bernstein, Jefferies Organizations: Deutsche Bank, Nike, Sovos Brands, UAA, Outsized NA, JPMorgan, Global Products, Securities, Bed, Barclays, Amazon, Citi, General Motors Locations: China, Italian, downgrades, EBITDA

☆ 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

☆ Gamestop fires CEO as Q1 earnings released
▼ + stars: | 2023-06-07 | by ( Samantha Delouya | ) edition.cnn.com time to read: +2 min

CNN —GameStop fired its CEO, Matt Furlong, and elevated Ryan Cohen to executive chairman, the company announced on Wednesday. GameStop (GME) also reported a net loss of $50.5 million, compared to a net loss of $157.9 million in the first quarter of 2022. The loss comes just a few months after GameStop (GME) reported its first quarterly profit in two years. Shares of GameStop tumbled nearly 20% in after-hours trading on the news of the company’s financial results and C-suite shakeup. During this period, GameStop’s stock surged to an all-time intraday high of $483, before falling.

Persons: Matt Furlong, Ryan Cohen, Furlong, Dean Lewins, Chewy, ”, ’ Organizations: CNN, GameStop, Securities and Exchange Commission, GameStop’s, Bed, AMC Entertainment

☆ Buy Buy Baby draws sale interest in Bed Bath & Beyond bankruptcy, one bidder looks to save stores
▼ + stars: | 2023-06-02 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +7 min

A Buy Buy Baby store in the Brooklyn borough of New York, US, on Monday, Feb. 6, 2023. That's where Buy Buy Baby – and its long-held name recognition – would come in. "We have tremendous trust with new and expecting parents but Buy Buy Baby is much better known with kind of that older generation," she said. The crown jewel of Bed Bath & BeyondThis is not the first time Buy Buy Baby has seen sale interest. Buy Buy Baby has remained a bright spot in Bed Bath & Beyond's otherwise dismal earnings reports in recent years.

Persons: Stephanie Keith, Natalie Gordon, It's, Gordon, Babylist, it's, –, Ryan Cohen, Chewy, Cohen Organizations: Bloomberg, Getty, Bed, CNBC, Capital Advisors, GameStop, & $ Locations: Brooklyn, New York, Bed Bath, Beverly Hills , California, Bath

☆ Big Lots says its decision to accept Bed Bath & Beyond coupons is drawing more 'dislocated' shoppers to the struggling discount retailer
▼ + stars: | 2023-05-26 | by ( Ben Tobin | ) www.businessinsider.com time to read: +2 min

Big Lots is one of many retailers that have accepted Bed Bath & Beyond coupons at their stores. Big Lots president and CEO Bruce Thorn said the retailer is trying to pick up 'dislocated' BBBY customers. For Big Lots, a discount furniture and home decor retail chain that's been wrestling with its own financial problems, Bed Bath & Beyond's pain has been its gain, per Big Lots executives. He said Big Lots also plans to focus on "other companies that unfortunately have gone out of business." The Container Store, JoAnn, and Sur La Table have also been accepting Bed Bath & Beyond coupons in hoping to attract new customers.

☆ Bank of America details 3 retail stocks that have more than 20% upside as they benefit from mass closures of Bed Bath & Beyond stores
▼ + stars: | 2023-05-04 | by ( Laila Maidan | ) www.businessinsider.com time to read: +3 min

Bed Bath & Beyond is closing hundreds of stores this year after filing for bankruptcy. Another 360 Bed Bath & Beyond locations and 120 buybuy Baby locations are set to shutter their doors by the end of June. BoA expects these hot spots to be gobbled up by off-price retailers that have near-term plans to expand. TJX's HomeGoods subsidiary is a runner-up, with only 38% of BBBY stores being within a one-mile radius and 52% within two miles. Off-price retailers' store proximity to Bed Bath & Beyond store locations.

☆ Factbox: Tech firms, Wall Street lead job cuts in Corporate America
▼ + stars: | 2023-05-02 | by ( ) www.reuters.com time to read: +8 min

read moreSpotify Technology SA (SPOT.N):Music streaming service Spotify is cutting 6% of its workforce, or roughly 600 roles. read moreMicrosoft Corp (MSFT.O):The U.S. tech giant said it would cut 10,000 jobs by the end of the third quarter of fiscal 2023. Workday Inc (WDAY.O):The software company will cut roughly 500 jobs, or 3% of its workforce, citing a challenging macroeconomic environment. Morgan Stanley (MS.N):The Wall Street powerhouse is planning to cut about 3,000 jobs in the second quarter, Reuters reported. MANUFACTURING SECTOR3M Co (MMM.N):The industrial conglomerate said it would cut 2,500 manufacturing jobs after reporting a lower profit.

☆ Off-price retailers to get cheap inventory and real estate from Bed Bath & Beyond's bust, BofA says
▼ + stars: | 2023-05-02 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

When Bed Bath & Beyond shuts its doors for good, certain retailers should benefit from both the real estate and inventory opportunities, Bank of America wrote in a note Tuesday. Bed Bath & Beyond will close its remaining 360 namesake and 120 Buy Buy Baby locations by June 30 after filing for Chapter 11 bankruptcy protection last week. In addition, its assortment of home decor and baby products could flow through to off-price retailers at significant discounts, she noted. Bed Bath & Beyond vendors will also likely redirect products to off-price retailers as a way to diversify the business without seeing a drop in sales, she added. She estimated TJX could see a 1% sales lift if it can capture 5% to 10% of Bed Bath & Beyond's sales.

☆ Bride had her wedding dress held 'hostage' in a billing dispute between Bed Bath & Beyond and preservation company
▼ + stars: | 2023-04-29 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +4 min

Last week, Bed Bath & Beyond (BBBY) announced it was planning to liquidate its inventory and go out of business. After reading good reviews about Houston-based Memories Gown Preservation, she decided to order the $120 kit through Bed Bath & Beyond. “I knew I wouldn’t look good in a white wedding dress,” she said. The MemoriesGP website still advertises Bed Bath & Beyond as an authorized dealer and as a registry option. “We take concerns raised by our customers very seriously,” Bed Bath & Beyond said.

☆ Bed Bath & Beyond shares sink 47% in Frankfurt after filing for bankruptcy protection
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: 1 min

LONDON, April 24 (Reuters) - Bed Bath & Beyond Inc (BBBY.O) Frankfurt-listed shares fell 47% on Monday after the U.S. home goods retailer filed for bankruptcy protection. Bed Bath & Beyond Inc filed for Chapter 11 bankruptcy protection on Sunday after it failed to secure funds to stay afloat, and has begun a liquidation sale. Reporting by Joice Alves; Editing by Amanda CooperOur Standards: The Thomson Reuters Trust Principles.

☆ Here are the biggest winners from Bed Bath & Beyond's bankruptcy filing
▼ + stars: | 2023-04-24 | by ( Michelle Fox | ) www.cnbc.com time to read: +3 min

Bed Bath & Beyond filed for Chapter 11 bankruptcy protection on Sunday after failing to raise enough money to stay in business. The company is asking a New Jersey bankruptcy court permission to auction its namesake and Buy Buy Baby brands. "Comments from BBBY suggest that if a buyer of the company does not emerge, management plans to gradually wind down operations. The company currently operates 360 namesake locations and 120 Buy Buy Baby stores. "We are hard-pressed to envision Wayfair shares moving appreciably higher until the company's business model showcases improved, broad-based fundamental momentum.

☆ Futures slip as investors brace for tech earnings, economic data
▼ + stars: | 2023-04-24 | by ( ) www.reuters.com time to read: +2 min

Market heavyweights including Alphabet Inc (GOOGL.O), Microsoft Corp (MSFT.O), Amazon.com Inc (AMZN.O) and Meta Platforms Inc (META.O), whose shares have supported markets this year, are scheduled to report results this week. Whether the rally continues could depend on the companies beating already-lowered first-quarter estimates. Of the 88 S&P 500 companies that reported results through Friday, nearly 76% beat analysts' first-quarter profit estimates, as per Refinitiv IBES data, above the long-term average of 66.3%. ET, Dow e-minis were down 80 points, or 0.24%, S&P 500 e-minis were down 9 points, or 0.22%, and Nasdaq 100 e-minis were down 19.5 points, or 0.15%. The regional bank, whose shares have sunk 88% this year triggered by the U.S. banking crisis, is set to report results after market closes on Monday.

☆ Bed Bath & Beyond files for bankruptcy protection after long struggle, begins liquidation sale
▼ + stars: | 2023-04-23 | by ( ) www.reuters.com time to read: +2 min

April 23 - Bed Bath & Beyond Inc (BBBY.O) filed for Chapter 11 bankruptcy protection on Sunday after the home goods retailer failed to secure funds to stay afloat, and has begun a liquidation sale. In February, the embattled retailer had planned to raise around $1 billion through the offering of preferred stock and warrants to avoid bankruptcy. But Bed Bath terminated the deal in late March and announced plans to sell $300 million worth of its shares, warning it might have to file for bankruptcy if it could not secure the funds. In February, according to a court filing, Bed Bath & Beyond's Canadian operations were going out of business. The Canadian division, which operates 54 Bed Bath & Beyond stores and 11 buybuy BABY stores, is insolvent, the filing posted on the website of consultancy Alvarez & Marsal showed.

☆ Bed Bath & Beyond's rocky ride to bankruptcy filing
▼ + stars: | 2023-04-23 | by ( ) www.reuters.com time to read: 1 min

[1/3] A shopping cart is seen at a Bed Bath & Beyond store in Manhattan, New York City, U.S., June 29, 2022. REUTERS/Andrew Kelly//File PhotoApril 20 (Reuters) - Bed Bath & Beyond Inc (BBBY.O) filed for Chapter 11 bankruptcy protection on Sunday after the home goods retailer failed to secure funds to stay afloat. In March, the company said it would sell $300 million worth of its shares to raise more capital and might have to file for bankruptcy if it failed to secure the funds. Here's a look at some of the major developments at the retailer over the past year:Reporting by Granth Vanaik and Ananya Mariam Rajesh in Bengaluru; Editing by Shinjini Ganguli, Subhranshu Sahu and Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

☆ Jim Cramer: This is what I learned from the real first week of earnings season
▼ + stars: | 2023-04-23 | by ( Jim Cramer | ) www.cnbc.com time to read: +10 min

"Simply stated we're in a freight recession." That line, uttered last Monday by Shelley Simpson, president of J.B. Hunt (JBHT), the fourth-largest trucking company in the United States, was the most memorable of the real first week of earnings season. If so, it would know that we're dealing with much more than a freight recession. It's not enough to offset the immense deflationary pressure emanating from the regional banks and the freight recession described by J.B. Hunt. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Organizations: & $

☆ Bed Bath & Beyond files for bankruptcy
▼ + stars: | 2023-04-23 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +9 min

Chris Hammons unloads a bag of items she purchased at a Bed Bath & Beyond store in Dallas, Texas September 23, 2009. In its bankruptcy filing, Bed Bath & Beyond said it had $5.2 billion in debt and assets of just $4.4 billion. Discount chains such as HomeGoods and TJ Maxx have also undercut Bed Bath & Beyond’s prices. Without the differentiators of the lowest prices or widest selection, Bed Bath & Beyond’s sales stagnated from 2012 to 2019. And Bed Bath & Beyond is the latest retail chain to file for bankruptcy this year.

Organizations: & $

☆ Bed Bath & Beyond considers asset sales, Sixth Street bankruptcy loan - Bloomberg News
▼ + stars: | 2023-04-22 | by ( ) www.reuters.com time to read: +1 min

April 21 (Reuters) - Bed Bath & Beyond Inc (BBBY.O) is considering sales of assets and intellectual property as part of a potential bankruptcy filing that could come as soon as this weekend, Bloomberg News reported, citing people with knowledge of the situation. The home goods retailer is also looking to secure funding from U.S.-based investment firm Sixth Street Partners to support its operations through Chapter 11 proceedings but the plans could still change, Bloomberg News reported on Friday. Bed Bath and Beyond did not respond to a request for comment, while Sixth Street Partners declined to comment. In January, Reuters reported that the embattled retailer was negotiating a loan to help it navigate bankruptcy proceedings, with Sixth Street in talks to provide some funding. The investment firm loaned Bed Bath & Beyond $375 million in 2022.

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