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February 2, 2023
Apple, Amazon, and Google experienced sharp runups ahead of their after-hours earnings reports. Optimism about the economy and Fed had already boosted tech stocks, but Meta’s upside surprise fueled the narrative that these three would also beat.
What ultimately resulted was some lackluster action after the bell. Let’s break it all down. 📝
February 3, 2023
Two weeks ago, we covered the news that activist investor Ryan Cohen had taken a stake in Alibaba, pushing for more share buybacks. But, we noted at the time, it might’ve been more difficult for him to enact meaningful change at a firm that size. And apparently, it seems he might be coming around to that thesis as well. 🤷
That’s because today, it came to light that the GameStop Chairman had bought a significant stake in department store retailer Nordstrom. His purchase makes him one of the company’s top five nonfamily shareholders, and he’s looking to use his influence to shake up the retailer’s board of directions. 👨💼