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.

Bulls say this is a sure sign that the stock is undervalued and only has more upside from here. But bears pushed back, pointing to Icahn Enterprise’s own floundering stock price as evidence of poor management ability. They also noted that Icahn’s last foray into the airline industry, during the late 1980s, resulted in TWA being taken private and eventually filing for bankruptcy. ⚔️

With new CEO Joanna Geraghty taking the helm today, it’s clear she’s got a lot of work ahead of her to appease Icahn, shareholders, and many other stakeholders who have been left feeling uneasy by the last few years’ performance. We wish her the best in her new endeavor. 🫡

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Trouble Continues For Telecoms

We last talked about Telecom stocks about six months ago, when their stocks came under significant pressure due to slowing growth, competition concerns, and regulatory issues. We then discussed them in October when investors dumped defensive stocks for higher-yielding treasuries with no risk.

Prices have since rebounded sharply with the broader market as investors priced in Fed rate cuts this year. However, Verizon was back in the news today for a not-so-great reason. Let’s dig in. 👇

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Epic Wins A “Victory Royale” Against Google

It’s been three years since Fornite-maker Epic Games sued Apple and Google for allegedly running illegal app store monopolies. And despite losing a similar battle against Apple, the game-maker has secured a win against Google. 🏆

The jury in Epic v. Google delivered its unanimous decision after just a few hours of deliberation. They found a few key things:

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AT&T Suffers Major Outage

Those who work at AT&T today did not have a great day, but those who use their services had a pretty good excuse to chill out at work today. That’s because the telecom giant experienced a nationwide cellphone outage that impacted tens of thousands of its customers today. 📵

While the nation’s largest carrier said it restored wireless service to all impacted customers by midday, no reason has been given for the outages. With T-Mobile and Verizon’s networks unaffected, regulators quickly questioned whether AT&T experienced a hack or other cyberattack. 📡

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Chinese Smartphone Maker Unveils EV

Chinese smartphone giant Xiaomi is entering the highly competitive electric vehicle (EV) market, revealing its first electric car this weekend. 👀

The consumer electronics company unveiled its SU7 sedan, which it says it spent more than $1.4 billion to develop. The vehicle is set to roll out in China next year and is attempting to do something Faraday Future and other competitors have failed to do: create a software-focused vehicle that matches the technology people find in their phones to what’s happening in their cars. 

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