Author: Lewis
Links: October 24, 2024
Three years in, Fox Weather is attracting viewers — and proving the doubters wrong Keurig Dr Pepper to Buy Energy-Drink Maker Ghost for Over $1 Billion Continuing Jobless Claims Jump To 3 Year Highs
Intuit draws more attention to their CEO’s bad interview by demanding The Verge edit it
There’s a writeup on Tech Dirt which talks about how Intuit’s management lacks any understanding of the Streisand Effect when it attracted more attention to an interview with their CEO, Sasan Goodarzi, gave to The Verge. Intuit’s communications department turned what would have been a short, terse exchange in an otherwise cupcake interview into a much more interesting story by de...
Morning links:
Boeing Posts $6 Billion Loss Ahead of Strike Vote <WSJ> North Dakota voters could end property taxes — and pour ‘gas on the spark’ of a growing tax revolt <Marketwatch> U.S. Dollar Dominates Global Payment Network SWIFT <Statista> Restaurant Bankruptcies Piling Up, TGI Fridays May Be Next <ZeroHedge>
HelloFreefall
Sponsoring every podcast in existence must not be what it used to be. Shares of meal kit delivery service HelloFresh have shed 42% of their value on a weak 2024 forecast and the retraction of its 2025 targets. Deutsche Bank calls the report “disappointing” while UBS bemoans that the guidance is “far worse” than anticipated. This caps off a disastrous two-year period where t...
Evening links: March 7, 2024
Sargento recalls nearly a dozen brands of shredded cheese over listeria fears <CBS News> Someone’s buying votes in Disney’s ugly proxy fight <Morning Brew> Voyager 1 may have died… <NY Times> Why Costco is selling gold bars and silver coins <CNN> Podcast advertising mainstay, Harry’s Inc. has filed for an IPO <Yahoo>
The cover of Kara Swisher’s new book gives me secondhand embarrassment
I’m judging a book by its cover, and wouldn’t be caught dead with the hardcover. But the reviews are unsurprisingly glowing: Kara Swisher takes on the “boy-kings” of big tech in “Burn Book” <Axios> Kara Swisher once again punctures the puffed-up egos of Silicon Valley <Washington Post> … except for the NY Times which calls it “underwhelming....
Victoria’s Secret plunges 30% on falling sales guidance
Crotchless panties anyone? Apparently not as Victoria’s Secret is in freefall after projecting lower revenues next year. This coming off a year where same-store sales already saw a 6% drop so with over $3 billion in debt, we can understand why the street is hitting the panic button. But hey, maybe AI will turn things around!
Vice Media pulls plug on employee town hall meeting after onslaught of “thumbs down” emojis
The embattled “news organization” was holding a town hall where chief content officer Cory Haik was giving an update on a recent round of layoffs when the angry “thumbs down” emotes started flooding the stream from disgruntled employees. That’s when CEO Bruce Dixon cut in–while Haik was still talking–to say “It’s impossible to ignore the emojis...
Mnuchin & Liberty Strategic Capital come to the rescue of NYCB
The news on NYCB just keeps coming today, and it appears as if it’s fundraising round was successful. The cash-strapped bank has just issued a press release and it appears Steve Mnuchin and a consortium consisting of Liberty Strategic Capital, Hudson Bay Capital and Reverence Capital Partners has come to the rescue with a $1bil cash infusion. Some terms of the deal include: Sh...
CNBC Talking Head Jenny Harrington is holding the bag on NYCB losses
Jenny Van Leeuwen Harrington, CEO of Gilman Hill Asset Management and frequent CNBC contributor, owns up to holding on to her NYCB stock, which is in free-fall today and down ~60% over the last week. Here’s the video: She calls the management team “arrogant” and excoriates regulators on allowing the merger with Signature Bank. She claims that she’s reduced it to a small pos...
BowFlex can’t handle the weight
BowFlex is filing for bankruptcy with $140mm in assets and $125.9mm in debt. The home workout equipment maker has said that it has a bid of $37.5 million from Johnson Health Tech which will enable it to continue operating in the interim.
NYCB stock tanks after WSJ report
The WSJ is reporting that New York Community Bancorp (NYCB) is on a desperate quest for equity capital as it battles to regain investor confidence amidst a backdrop of escalating troubles. The once-reliable regional bank is now grappling with a mix of challenges, including real-estate loan losses, and a drastic 70% fall in its stock price since January. The crisis at NYCB took center stage when it...
