M&A

October 14, 2021

Some Biiiig Money for Macy’s

Department store Macy’s is valued at over $7 billion, but one activist investor thinks Macy’s could be worth a lot more… contingent upon one little thing.

In a letter to Macy’s management, Jana Partners says that spinning off Macy’s e-commerce business could bode well for the department store. Macy’s online biz could get attention from firms that are interested in investing in a spinoff. 💰 💰

The company’s e-commerce sales are expected to be worth more than the company’s entire market capitalization this year, landing somewhere above $8.3 billion. According to CNBC, those figures have nearly doubled over the last four years.

Those hefty figures (and the sweet, sweet appeal of the words “tech” and “e-commerce” among investors 😋) could earn Macy’s a $14 billion valuation for its online business. In other words: Macy’s online biz alone could be worth 2x the value of the whole company right now. Crazy, right?!

Related Articles

Related Articles

Chinese Smartphone Maker Unveils EV

December 28, 2023

Guess this will be a “wait and see” kind of situation, but Jana is picking up stock here. $M was up 2.85% today.

Learn More About...

You Might Also Enjoy

Policy

January 3, 2024

New Year, Same POTential

Cannabis stocks had another rough year in 2024, failing to make any meaningful progress or participate in the broader stock market’s rally. But, like all beaten-down industries, they occasionally pop back in the news like they did today. 📰

In late August, the industry’s biggest names and ETFs began rallying after a top official at the Department of Health and Human Services (HHS) wrote to Drug Enforcement Agency (DEA) Administrator Anne Milgram. In it, the official called for marijuana to be reclassified as a Schedule III drug under the Controlled Substances Act. 

Read It

Earnings

December 21, 2023

C-Letter Companies’ Great Day

It’s a slower week in the markets, so it was slightly interesting that all of today’s top earnings movers seemed to start with the letter C. Let’s quickly recap their results. 👍

First up is Carnival Cruises, which reported another quarter of record results. The company’s adjusted loss per share of $0.07 beat expectations for a $0.13 loss, while a revenue jump of 40.60% to $5.397 billion topped the expected $5.295 billion. That was driven by a 54.70% increase in passenger-ticket revenue ($35.10 billion) and a 20.10% jump in other revenue ($1.886 billion). 🛳️

Read It

Earnings

January 4, 2024

Self-Driving Vehicle Problems Mount

It’s been a rough time for the self-driving vehicle industry, with issues around GM’s Cruise unit renewing the regulatory spotlight on the space in late 2023. Unfortunately for investors betting on a quick turnaround, self-driving technology company Mobileye Global warned that it may take longer than anticipated. ⚠️

The company said its results this year will be impacted by customers clearing excess inventory for their books before placing new orders. It provided a preliminary 2024 operating loss between $378 and $468 million, much more significant than its preliminary 2023 operating loss of $33 to $39 million. Its 2024 revenue forecast of $1.83 to $1.96 billion also fell short of the $2.58 billion consensus view. 📊

Read It

More in   M&A

View All

M&A

January 10, 2023

AI Is 2023’s New Buzzword

While 2022 was the year of Web3, many are noticing the sharp shift to artificial intelligence (AI) among companies and individuals alike. 🤖

Feeding that feeling is Microsoft’s potential $10 billion investment in ChatGPT-owner OpenAI, which values the company at $29 billion. Microsoft had previously invested $1 billion in the Elon Musk and Sam Altman-founded company in 2019. Its cloud services arm also provides OpenAI’s computing power.

Read It

M&A

June 27, 2022

FTX Goes Shopping Amid Market Turmoil

This article’s GIF essentially represents FTX Founder and CEO Sam Bankman-Fried pulling up to every struggling company right now. 😏

The highly-capitalized crypto exchange has been on a shopping spree amid the market turmoil, providing cash-strapped firms with a lifeline…for a price. 🏷️

Read It

M&A

January 22, 2024

Just Another M&A Monday

Mondays have been full of mergers and acquisitions activity this year, and today was no different. So, let’s quickly recap some of the biggest deals. 📝

Sunoco is buying NuStar Energy in a deal valued at $7.3 billion, including debt. The equity portion of the deal comes up to $2.99 billion, with NuStar’s shareholders each receiving 0.40 shares of Sunoco for each share they held, representing a roughly 32% premium. The oil distribution giant is acquiring the fuels storage and pipeline operator to diversify its core business beyond motor fuel distribution. ⛽

Read It

M&A

May 5, 2022

Peloton Searches for Its Knight in Shining Armor

After a punishing year for the at-home fitness company Peloton, the company is reportedly looking to sell nearly a fifth of its business in an effort to absolve themselves of near-term financial headwinds.

According to the Wall Street Journal, the company is perusing the catalog of industry giants and private equity firms alike in their search. Such a deal might not pan out, but new money might help the downtrodden pandemic-era giant find its way in a post-pandemic world.

Read It