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☆ Ryan Cohen Takes Stake in Nordstrom
▼ + stars: | 2023-02-03 | by ( Lauren Thomas | ) www.wsj.com time to read: 1 min

Ryan Cohen, now one of Nordstrom Inc.’s largest nonfamily shareholders, wants to engage with company management about targeted changes to the board. Activist investor Ryan Cohen is amassing a sizable stake in Nordstrom Inc. and intends to urge the upscale department-store chain to make changes to its board following a steep share-price decline, according to people familiar with the matter. Mr. Cohen, known for helping ignite big rallies in so-called meme stocks including GameStop Corp., is one of the top-five nonfamily shareholders of Nordstrom, the people said.

☆ Cramer's lightning round: Stick with Netflix
▼ + stars: | 2023-02-02 | by ( Krystal Hur | ) www.cnbc.com time to read: 1 min

Stick with it." Loading chart...GE Healthcare Technologies Inc : "I like the stock. I say, stay along." Loading chart...DraftKings Inc : "Stock could come around, but it's got to be 50 states before we get there." Loading chart...Medtronic PLC : "Medtronic right now is not being run well.

☆ Analysis: AMC sets unusual shareholder vote for meme stock sale approval
▼ + stars: | 2023-02-01 | by ( Anirban Sen | ) www.reuters.com time to read: +5 min

loadingNow, AMC is asking shareholders for authorization to further increase its common stock count tenfold. Holders of the preferred stock will be allowed to vote on the matter alongside holders of common stock. "This increases the odds of (the new common stock authorization) passing this time," said Jacob Thomas, a professor of accounting and finance at Yale School of Management. "Given that meme stock speculators can drive prices far from fundamentals, it makes sense for a company like AMC to issue stock when management believes its own stock is overvalued," Harvey said. AMC said in the Jan. 26 filing that it is proposing the conversion of preferred stock to common stock to eliminate the trading discount.

☆ Activist Investor Ryan Cohen Takes Stake in Alibaba and Pushes for More Stock Buybacks
▼ + stars: | 2023-01-17 | by ( Lauren Thomas | ) www.wsj.com time to read: 1 min

Activist Ryan Cohen has a wide following among individual investors who often follow his lead. Activist investor Ryan Cohen has built a stake in Alibaba Group Holding Ltd. worth hundreds of millions of dollars and is privately pushing the Chinese e-commerce giant to accelerate and further boost its share-repurchase program, according to people familiar with the matter. Mr. Cohen, known as the meme-stock king for helping ignite explosive rallies in GameStop Corp. and others, built the stake in the second half of last year, the people said.

☆ Bed, Bath & Beyond rebounds in meme-stock rally
▼ + stars: | 2023-01-09 | by ( Stephen Culp | ) www.reuters.com time to read: +2 min

NEW YORK, Jan 9 (Reuters) - Shares of Bed, Bath & Beyond Inc (BBBY.O) rebounded sharply in high volume trading on Monday amid speculation by retail investors that the struggling home goods seller might be a potential acquisition target. As of mid-day, traders had exchanged $114 million worth of the Bed, Bath & Beyond's shares, nearly matching the company's entire stock market value of $157 million, according to Refinitiv data. Bed Bath & Beyond has struggled for years with shrinking sales as it competes against Amazon (AMZN.O) and other rivals, with investors pointing to problems including cluttered stores and an over-reliance on discount coupons. In a filing last week, Bed Bath & Beyond said it expected to show a net loss of $385.8 million for its fiscal quarter ending in November, including $100 million of impairment charges. Of the 13 analysts covering the company, three recommend "hold," eight rate the stock "sell," and two have "strong sell" recommendations.

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☆ Bed Bath & Beyond exploring options including bankruptcy, shares fall 13%
▼ + stars: | 2023-01-05 | by ( Jessica Dinapoli | Thomson Reuters | New York-Based Reporter Covering U.S. Consumer Products Spanning Paper Towels To Packaged Food | ) www.reuters.com time to read: +2 min

Jan 5 (Reuters) - Bed Bath & Beyond Inc (BBBY.O) on Thursday said it was exploring options including a bankruptcy filing to address the U.S. home goods retailer's plunging sales, dwindling cash and debt load, sending its shares tumbling. Bed Bath & Beyond's fortunes dwindled and its stock collapsed in value after it pursued a strategy focused on its own private-label goods. The company became a meme stock last year when its shares soared more than 400%. Activist investor Ryan Cohen, the chairman of GameStop Corp (GME.N), took a stake in Bed Bath & Beyond, which he later sold, sending shares crashing. Bed Bath & Beyond in its prior financial update in the fall said it had liquidity of $850 million but had burned through $325 million in the quarter.

Jan 5 (Reuters) - Bed Bath & Beyond Inc (BBBY.O) on Thursday said it was exploring options including a bankruptcy filing to address the U.S. home goods retailer's plunging sales, dwindling cash and debt load, sending its shares tumbling. Bed Bath & Beyond said it expects to report a third-quarter loss of $385.5 million after sales plunged 33%. The stock was one of the most active on the Nasdaq, with nearly 9.4 million shares traded as of 09:37 ET. Bed Bath & Beyond's fortunes dwindled and its stock collapsed in value after it pursued a strategy focused on its own private-label goods. Activist investor Ryan Cohen, the chairman of GameStop Corp (GME.N), took a stake in Bed Bath & Beyond, which he later sold, sending shares crashing.

☆ GameStop's third quarter disappoints on lack of hit titles, inflation pinch
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +2 min

GameStop launched a digital wallet earlier this year to enable transactions in a marketplace it is building for gamers and others to buy, sell and trade non-fungible tokens, or NFTs. However, with crypto winter setting in and the value of cryptocurrencies plummeting, GameStop's digital wallet ambitions face a bleak future. GameStop posted revenue of $1.19 billion in the third quarter, missing estimates of $1.36 billion, according to Refinitiv IBES data. On an adjusted basis, the company lost 31 cents per share, compared with analysts' estimates of a loss of 28 cents per share. GameStop's expenses as a percentage of revenue was 32.7% in the quarter, down from 34.1% in the second quarter, as the company has tried to cut costs by reducing its workforce and shutting down stores.

☆ GameStop posts 9.4% fall in third-quarter revenue
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +1 min

Dec 7 (Reuters) - GameStop Corp (GME.N) posted a 9.4% fall in quarterly revenue on Wednesday as consumers cut back spending on discretionary items amid stubbornly high inflation. The company launched a digital wallet earlier this year to enable transactions in a marketplace it is building for gamers and others to buy, sell and trade non-fungible tokens, or NFTs. However, with crypto winter setting in and the value of cryptocurrencies plummeting, GameStop's digital wallet ambitions face a bleak future. GameStop's revenue in the third quarter fell to $1.19 billion from $1.30 billion a year earlier. Reporting by Eva Mathews in Bengaluru; Editing by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

☆ Futures fall on growing fears of recession
▼ + stars: | 2022-12-07 | by ( ) www.reuters.com time to read: +3 min

SummarySummary Companies Futures down: Dow 0.11%, S&P 0.21%, Nasdaq 0.30%Dec 7 (Reuters) - U.S. stock index futures edged lower on Wednesday after warnings of a looming recession from major Wall Street bankers offset optimism around the easing of China's strict zero-COVID rules. Fears of a recession due to the U.S. Federal Reserve's aggressive rate hikes to curb inflation pulled the S&P 500 (.SPX) lower for a fourth straight session on Tuesday, with all major Wall Street indexes closing down 1-2%. ET, Dow e-minis were down 36 points, or 0.11%, S&P 500 e-minis were down 8.25 points, or 0.21%, and Nasdaq 100 e-minis were down 34.75 points, or 0.3%. Among other stocks, GameStop Corp (GME.N) jumped 1.1% ahead of its third-quarter results where it is expected to report a 4.5% rise in revenue. Reporting by Shubham Batra and Ankika Biswas in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

"It's the recession fear that a lot of investors have ... the concern is that profits begin to drop more meaningfully in the recession." As of Dec. 2, analysts expected S&P 500 companies to report a drop of 0.6% in fourth-quarter earnings after posting a 4.4% rise in the third quarter, according to Refinitiv IBES data. ET, Dow e-minis were down 31 points, or 0.09%, S&P 500 e-minis were down 2 points, or 0.05%, and Nasdaq 100 e-minis were up 4.75 points, or 0.04%. Meanwhile, a Tuesday runoff election in Georgia between Democratic U.S. Among individual stocks, GameStop Corp (GME.N) rose 1.6% in premarket trading following a media report on layoffs.

☆ Carl Icahn holds short position in GameStop - Bloomberg News
▼ + stars: | 2022-11-21 | by ( Reuters Staff | ) www.reuters.com time to read: +1 min

(Reuters) - Activist investor Carl Icahn has a sizeable short position in video game retailer GameStop Corp, Bloomberg News reported on Monday, citing sources familiar with the matter. FILE PHOTO: Billionaire activist-investor Carl Icahn gives an interview on Fox Business Network's Neil Cavuto show in New York, U.S. on February 11, 2014. Icahn began shorting the stock around January 2021, the report added but did not provide details of the size of Icahn’s position. Short interest in GameStop’s stock is very high, with 17.53% of the company’s outstanding shares shorted as of Oct. 31, according to Refinitiv data. The retailer executed a four-for-one stock split this year, the stock rose a split-adjusted high of over $120 in Jan. 2021.

loadingIn a follow-up tweet, FTX said subsidiaries LedgerX LLC, FTX Digital Markets, FTX Australia Pte Ltd, FTX Capital Markets, Embed Financial Technologies and Embed Clearing were not included in the Chapter 11 filings. People familiar with the matter told Reuters at least $1 billion of customer funds have vanished from FTX. The nine days of turmoil hit already-struggling cryptocurrency markets, sending bitcoin to two-year lows . Its CEO Brian Armstrong told CNBC crypto markets need regulation to avoid more washouts like FTX. This is the primary way financial markets could suffer, as it may have further minor implications for portfolio shocks in a volatile macro regime."

☆ Late Bed Bath & Beyond CFO Dropped From Shareholder Suit
▼ + stars: | 2022-11-02 | by ( Jennifer Williams-Alvarez | ) www.wsj.com time to read: +5 min

Gone are claims from the original 24-page complaint that Mr. Arnal and Mr. Cohen colluded to boost the company’s share price. Bed Bath & Beyond has said the lawsuit was without merit. Bed Bath & Beyond and Mr. Cohen, along with JP Morgan Securities LLC, are still named as defendants in the suit, which seeks class-action status. Bed Bath & Beyond shares traded around $4.05 on Wednesday, down more than 70% since the beginning of the year. Mr. Toll said he hadn’t heard from Bed Bath & Beyond or Mr. Arnal’s estate leading up to the filing of the amended complaint.

☆ Late Bed Bath & Beyond CFO Dropped From Suit Alleging Collusion With Ryan Cohen
▼ + stars: | 2022-11-02 | by ( Jennifer Williams-Alvarez | ) www.wsj.com time to read: +5 min

“There’s plenty of grief in his family, and us making it even worse didn’t seem worth it,” Mr. Toll said. Gone are claims from the original 24-page complaint that Mr. Arnal and Mr. Cohen colluded to boost the company’s share price. Bed Bath & Beyond and Mr. Cohen, along with JP Morgan Securities LLC, are still named as defendants in the suit, which seeks class-action status. Mr. Cohen unloaded his entire stake in Bed Bath & Beyond in mid-August. Bed Bath & Beyond shares traded around $4.05 on Wednesday, down more than 70% since the beginning of the year.

☆ Meme stock rally could be sign that investor appetite for risk is returning
▼ + stars: | 2022-10-31 | by ( David Randall | ) www.reuters.com time to read: +3 min

The stock's Monday volume, which stood at over 10 million shares after the close, far exceeded the 506,000 shares investors have shorted, he said. "There is no way today’s price move is due to a short squeeze, it is virtually all long buying pressure," Dusaniwsky said. Many meme stocks have been pounded this year as the Federal Reserve tightens monetary policy, sapping investors’ appetite for risk. Shares of GameStop Corp (GME.N), which put meme stocks into the spotlight with its epic rally in 2021, are down 24% for the year to date while AMC Entertainment Holdings Inc (AMC.N) has fallen 60%. "If that’s the case that would further tamp down Treasury yields and create a tailwind for equities."

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