Sphere Entertainment Comes Full Circle

Premier live entertainment and media company Sphere Entertainment made headlines this weekend with the opening of its Las Vegas venue. 😮

The Sphere is a “next-generation entertainment medium” where people experience a fresh take on live entertainment in its dome-shaped arena with wall-to-wall video screens. And it debuted this weekend in Las Vegas with a performance from the rock band U2 on both Saturday and Sunday.

The solid opening weekend had investors feeling optimistic about the company’s plans to host future live concerts and sporting events. $SPHR shares soared 11.11% on a down day for the market, bringing the stock “full circle” back to its IPO price. 🔄

It’s been a rough ride for its investors, with three years of no returns. But who knows, maybe this can create some sustainable energy back into the stock. Time will tell, and we’ll certainly be entertained watching it either way. 👀

FanDuel Parent Lists On NYSE

The U.S. “degenerate economy” is getting its latest entrant, with FanDuel parent company Flutter Entertainment making its debut on the New York Stock Exchange (NYSE) today. 🤩

With that said, the company did not receive the traditional fanfare it would in a standard initial public offering (IPO). That’s because it was listed on the London Stock Exchange (LSE) in May 2019, and its American depository receipts (ADR) have traded over the counter under the ticker $PDYPY for years.

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Justice Department Targets UnitedHealth

With the upcoming presidential election looming, the current administration is itching to accomplish more before a potential shakeup. While antitrust regulators have had a field day with big tech, airlines, grocery chains, and others this year, they’re taking another look at UnitedHealth, especially given its recent cybersecurity issues. 🕵️‍♂️

The Justice Department is poking around to figure out the relationship between the company’s UnitedHealthcare insurance unit and its Optum health-services division. They’ve asked how UnitedHealth’s acquisitions of doctor groups might affect competitors and consumers. 🤔

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JetBlue Jumps As Icahn Accumulates

It’s been a rough few months for JetBlue shareholders after the airline’s merger with Spirit Airlines was blocked by U.S. regulators. However, the stock is popping after hours on news that a billionaire hedge fund manager is dumpster diving and sees value in the stock. 💸

Activist investor Carl Icahn reported a nearly 10% stake, which he’s accumulated on the belief that the stock is undervalued following its recent selloff. He’s already had discussions with the company regarding possibly attaining board representation.

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PayPal Pops Ahead Of Key Event

It’s been a rough few years for payment giant PayPal, with shares falling 85% peak-to-trough. Recently, the stock has begun to rebound with other beaten-down tech names but remains about 80% below all-time highs. In other words, it would need to nearly 5x its share price to reach those levels again. 📈

While that may seem a ways off, investors have recently pushed shares to their best three-day run since the end of 2022. That’s because the company promised to roll out new “customer-backed innovation” at an event next Thursday, with its new CEO Alex Chriss saying, “It is very clear what we need to do.”

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