GameStop! Well! Yes! This is the point! Of everything! Like: You do good business stuff; Your stock goes up; Now your stock is worth a lot of money; You use your valuable stock to buy things — executive talent, other companies — that help you do more good business stuff. A virtuous and self-reinforcing cycle. Step 2 is not, perhaps, the most important part of all of this, but it’s not the least im...
GameStop! Well! Yes! This is the point! Of everything! Like: You do good business stuff; Your stock goes up; Now your stock is worth a lot of money; You use your valuable stock to buy things — executive talent, other companies — that help you do more good business stuff. A virtuous and self-reinforcing cycle. Step 2 is not, perhaps, the most important part of all of this, but it’s not the least important either. At some point in early 2021 the mad scientists at GameStop Corp. realized, somewhat to their own chagrin, that their stock was going up quite a lot for reasons of its own. At first, they were terrified by this dark magic and declined to use it. Later, they tentatively started to use their stock-price powers to, like, hire Amazon.com executives . I am sure that I have somewhere joked that they would eventually use their stock to buy Amazon itself. They’re not quite there yet but man we are getting closer : GameStop Corp. is proposing to buy eBay Inc. for about $56 billion in cash and stock, a bold attempt by Ryan Cohen to take over a storied e-commerce name several times larger. The gaming retail chain offered $125 per share in cash and stock for the online marketplace, or about a 20% premium to its Friday close. GameStop, which built a roughly 5% stake in eBay, said it’s secured an initial, non-binding “highly confident letter” from TD Bank to provide about $20 billion of debt financing. In a memo to investors Sunday, Cohen’s company pledged to find some $2 billion of annual savings within 12 months of closing. … The takeover bid follows the surprising ascent of GameStop, a chain of video game outlets that shrank its brick-and-mortar footprint after gamers increasingly bought software in digital stores. In 2021, it became the center of a retail-investor frenzy. … Cohen is now proposing to take over a company roughly four times larger than the retail chain he operates. GameStop had a market value of $12 billion as of Friday. EBay was much bigger at around $46...
STORY: Amazon.com is elbowing its way into the business of UPS and FedEx. The company is giving other businesses access to its supply chain network that has powered the e-commerce giant’s operation for decades. Its so-called "Amazon Supply Chain Services" will allow companies across industries such as retail, healthcare and manufacturing to use Amazon’s freight network spanning ocean, road, rail a...
STORY: Amazon.com is elbowing its way into the business of UPS and FedEx. The company is giving other businesses access to its supply chain network that has powered the e-commerce giant’s operation for decades. Its so-called "Amazon Supply Chain Services" will allow companies across industries such as retail, healthcare and manufacturing to use Amazon’s freight network spanning ocean, road, rail and air to move, store and deliver everything from raw materials to final products. Amazon’s stock rose as much as almost 3% Monday morning while UPS fell as much as 10% and FedEx dropped more than 9%. With a fleet of more than 100 cargo planes, behind only FedEx and UPS, along with a vast network of warehouses and sorting hubs, Amazon's move could make it a key logistics player and intensify competition on pricing and speed. One analyst told Reuters quote, “For UPS and FedEx, this is not immediate disruption, but it is a structural warning shot, especially in e-commerce-heavy lanes where Amazon already has density, data and delivery-speed advantages." Amazon will allow businesses to take advantage of its speedy two-to-five-day delivery timelines, as well as warehousing and inventory forecasting capabilities. It has already signed up Procter & Gamble, 3M and American Eagle Outfitters.
New Jersey State Police say a United Airlines passenger jet struck a light pole and damaged a truck as it was coming in for a landing at Newark Liberty International Airport on Sunday. (Image credit: Kena Betancur)
New Jersey State Police say a United Airlines passenger jet struck a light pole and damaged a truck as it was coming in for a landing at Newark Liberty International Airport on Sunday. (Image credit: Kena Betancur)
Khanchit Khirisutchalual/iStock via Getty Images Key Takeaways Markets: The first quarter of 2026 was characterized by elevated geopolitical risk and accelerating AI-driven disruption across the software sector and its incumbent business models. The period was shaped by a series of international developments, including the capture and indictment of Nicolás Maduro, escalating diplomatic tensions be...
Khanchit Khirisutchalual/iStock via Getty Images Key Takeaways Markets: The first quarter of 2026 was characterized by elevated geopolitical risk and accelerating AI-driven disruption across the software sector and its incumbent business models. The period was shaped by a series of international developments, including the capture and indictment of Nicolás Maduro, escalating diplomatic tensions between the US and European NATO allies over Greenland, and a US-Israeli military operation against Iran. Contributors: Security selection contributed to performance. Detractors: Sector positioning was a slight detractor from performance. Outlook: Geopolitical tensions remain a defining feature of the outlook, with the Middle East conflict introducing ongoing uncertainty and contributing to oil price volatility as supply routes face occasional disruption. Even with these pressures, the global economic backdrop is gradually improving as fiscal support, easier financial conditions and moderating inflation help strengthen the 2026 outlook. Performance Review The portfolios slightly outperformed the benchmark (gross of fees, underperformed net of fees). Duration and yield-curve positioning were neutral for performance over the quarter. Sector positioning was a slight detractor due to an overweight to investment-grade credit. Security selection was beneficial to performance due to a higher-quality tilt compared to the benchmark. Outlook In the US, policy tailwinds and deregulation continue to support activity despite signs of softer labor conditions. Europe and the United Kingdom face trade and labor-market challenges but easing inflation and selective fiscal measures offer stabilization. China's recovery remains policy-driven amid structural constraints, while Japan's persistent inflation supports further policy normalization. Credit markets remain supported by strong fundamentals and healthy demand, with issuance elevated by AI-related capex, M&A and refinancing needs. Average a...
Cloud inference platform DeepInfra closes a $107 million in Series B funding round, backed by the likes of Nvidia and Samsung, as it aims to tackle bottlenecks in AI compute. DeepInfra CEO Nikola Borisov speaks with Caroline Hyde on “Bloomberg Tech.” (Source: Bloomberg)
Cloud inference platform DeepInfra closes a $107 million in Series B funding round, backed by the likes of Nvidia and Samsung, as it aims to tackle bottlenecks in AI compute. DeepInfra CEO Nikola Borisov speaks with Caroline Hyde on “Bloomberg Tech.” (Source: Bloomberg)
Amazon on Monday took another step to turn its vast logistics network into a revenue-generating machine — a familiar move that is boosting investor confidence in the stock and hitting shares of its competitors. Amazon unveiled what it calls Amazon Supply Chain Services (ASCS), giving businesses access to its full suite of freight, distribution, fulfillment, and parcel shipping capabilities. The of...
Amazon on Monday took another step to turn its vast logistics network into a revenue-generating machine — a familiar move that is boosting investor confidence in the stock and hitting shares of its competitors. Amazon unveiled what it calls Amazon Supply Chain Services (ASCS), giving businesses access to its full suite of freight, distribution, fulfillment, and parcel shipping capabilities. The offering expands its third-party logistics reach beyond its marketplace sellers to companies across industries, including healthcare, manufacturing, and retail. Among the first to sign up for ASCS are major brands, including Club name Procter & Gamble , 3M , Lands' End , and American Eagle Outfitters , underscoring the growing appeal of Amazon's logistics infrastructure. "It's a no-brainer for Amazon to do this. There's nobody as good as Amazon at supply chain," D.A. Davidson Gil Luria told CNBC in an interview Monday. He framed the launch as "an extension beyond retailers to any company with any type of good or product or input that they need to transport." It's a strategy that Wall Street is likening to how the company's cloud business, Amazon Web Services, evolved. Amazon initially built a cloud platform out of necessity for internal use. It was only later that it grew into Amazon Web Services, which was launched in March 2006. Now the biggest cloud in the world, AWS reported last week that revenue growth re-accelerated to 28% in the first quarter to $37.59 billion. Monday's supply chain move comes as confidence in Amazon's broader businesses continues to build. "Amazon is a more confident Amazon than I've ever heard," Jim Cramer said during Monday's Morning Meeting . He added, "I am very proud that this is our largest position" in the Club portfolio. "There's a lot of things going right, including the semi business, the food business, and the entertainment business. All three are on fire," he concluded. Amazon rose as much as 3% on Monday, hitting another intraday all-tim...
Investors holding $1.8 billion of bonds to finance Brightline West , a high-speed rail line between Southern California and Las Vegas, are asserting more control of the project after giving the railroad three more months to inject capital. Bondholders agreed to extend a deadline for the Fortress Investment Group -backed company to contribute equity to Aug. 1, according to a securities filing dated...
Investors holding $1.8 billion of bonds to finance Brightline West , a high-speed rail line between Southern California and Las Vegas, are asserting more control of the project after giving the railroad three more months to inject capital. Bondholders agreed to extend a deadline for the Fortress Investment Group -backed company to contribute equity to Aug. 1, according to a securities filing dated Friday. The railroad missed an end of March deadline to raise $400 million in capital to continue construction. Brightline West will be allowed access to $50 million from a restricted account to continue building the 218-mile line. In exchange, the train operator is granting holders of the 2025B bond series 69.7 million in new warrants, which along with existing warrants, give the bondholders the right to acquire up to 49.9% of the holding company’s equity. Bondholders also negotiated the right to attend meetings with the US Department of Transportation regarding Brightline West’s $6 billion application for a federal loan, which is critical to financing the project. An independent cash manager, RPA Advisors , was also appointed to approve project spending. The price tag of the build-out has far outstripped early cost estimates, swelling by some 35% to $21.5 billion. Brightline West has committed to raising some $5.5 billion in equity financing for the project and a $6 billion bank facility.
Police are searching for at least four individuals responsible for ‘terrifying signals of hatred and threats of violence’ Sign up for the Breaking News US email to get newsletter alerts in your inbox Several synagogues and homes in the New York borough of Queens were vandalized overnight Monday with swastikas, according to the city council speaker. On Monday, Julie Menin, along with other city cou...
Police are searching for at least four individuals responsible for ‘terrifying signals of hatred and threats of violence’ Sign up for the Breaking News US email to get newsletter alerts in your inbox Several synagogues and homes in the New York borough of Queens were vandalized overnight Monday with swastikas, according to the city council speaker. On Monday, Julie Menin, along with other city council members including Lynn Schulman and Phil Wong, visited Congregation Machane Chodosh, one of the sites targeted in Forest Hills. Continue reading...
Quantum computers can perform certain tasks much faster than their classical counterparts, but they're still larger, pricier, and less accurate for most applications. Yet over the next decade, smaller, cheaper, and more scalable quantum processing units (QPUs) could drive the development of more accurate quantum systems. From 2026 to 2034, Fortune Business Insights expects the quantum computing ma...
Quantum computers can perform certain tasks much faster than their classical counterparts, but they're still larger, pricier, and less accurate for most applications. Yet over the next decade, smaller, cheaper, and more scalable quantum processing units (QPUs) could drive the development of more accurate quantum systems. From 2026 to 2034, Fortune Business Insights expects the quantum computing market to expand at a 30.6% CAGR. Therefore, it could still be a great time to invest in some of the early movers in this nascent industry. Conservative investors should check out IBM (NYSE: IBM) as a quantum play, while more daring investors can take a closer look at IonQ (NYSE: IONQ) . Image source: Getty Images. Continue reading