Story of the Week GameStop raises $933M from stock sale GameStop said it had raised $933.4 million from a stock sale. The video game retailer said earlier this month it intended to sell up to 45 million shares of its common stock through an at-the-market offering, according to a filing with the U.S Securities and Exchange Commission. It sold […]
Story of the Week GameStop short sellers lost almost $1 billion in monster rally The jaw-dropping rally in GameStop on May 13 caused losses approaching $1billion for short sellers, according to data from S3 Partners. With GameStop soaring 74%, short-selling hedge funds suffered a mark-to-market loss of $838 million in the brick-and-mortar video game retailer, […]
Story of the Week Weekly jobless claims jump to 231,000, the highest since August Initial filings for unemployment benefits have hit their highest level since late August 2023, a potential sign that an otherwise robust labor market is changing. Jobless claims totaled a seasonally adjusted 231,000 for the week ending on May 4, up 22,000 […]
Story of the Week Job Growth Slows in April as Unemployment Rises and Wage Growth Moderates The long-awaited cooling in the labor market may have begun in April, as payrolls climbed by a weaker-than-expected 175,000, while the unemployment rate ticked up slightly to 3.9%. Wage growth also slowed, a sign that the Federal Reserve is […]
Story of the Week FTC sues to block Coach parent Tapestry’s acquisition of Capri Holdings The U.S. Federal Trade Commission has sued to block the $8.5 billion acquisition of Capri Holdings by Coach and Kate Spade’s parent company, Tapestry. The move by regulators brings at least a temporary halt to a deal that would marry […]