Inside Arbitrage Friday Wrap – Hard Landing In Housing Has Begun

  • January 20, 2023

FRIDAY WRAP

Our list of curated tweets for the current week

Housing

The only chart that matters for the housing market in 2023.


Housing starts and permits keep declining at roughly the same pace we've seen over the last year and now about 25% below peak.


Homebuyers are canceling purchases at levels that exceed what we saw in 2008.


Which housing markets in developed economies are most vulnerable to price declines?


Special Situations

NI to explore options including sale amid interest from Emerson Electric


I can’t, in 10 years of covering M&A, think of another example of a buyer going hostile a couple of days after a company says it’s for sale.


NCTA Offers Edits for Standard General-Tegna Deal Conditions


Albertsons $ACI gets green light to pay $6.85/share special dividend!


$MSFT $ATVI Microsoft is expected to receive an EU antitrust warning about its $69 billion acquisition of Activision Blizzard


When in­sid­ers who are sell­ing reg­u­larly stop…it can def­i­nitely be a green flag, play­ing into the idea of a com­pany work­ing on a pos­si­ble deal.


Will stock buybacks remain strong in 2023?


$BABA GameStop Chairman Ryan Cohen discloses a stake.


The Wendy’s Corp. $WEN approved a new $500 million share repurchase authorization representing around 10% of its market cap at announcement


Dropbox $DBX President Timothy Young announced his resignation, effective February 1, 2023.


C-Suite Transitions – Elizabeth Spaulding Steps Down as CEO of Stitch Fix $SFIX


Investing

2022 was the worst


Not investing is risky:


For the first time since 2018, larger hedge funds, including those focused on quant, macro and arbitrage strategies, outperformed their smaller rivals


Davos 2023: Goldman Sachs CEO concerned about debt ceiling


$ARKK - Greenlight's David Einhorn scored in 2022 by shorting ‘bubble stocks’


I am surprised @MetaAI didnt release a ChatGPT-like system earlier, given the access to rich data, relevant use cases and the potential benefit to its ecosystem. Did Meta miss a big opportunity here?


Microsoft, $MSFT, will add OpenAI's ChatGPT bot to its Azure cloud service, per Bloomberg.


$MSFT just announced plans to lay off 10,000 employees in response to the macro headwinds.


Wayfair Inc. is preparing to lay off more than 1,000 workers


Amazon discontinues their effective altruism charity. $500 million dollars with an average of $230 per donation due to the many charities involved.


FTX's new CEO said he's looking at restarting the bankrupt crypto exchange as he works to return money to customers and creditors


Car loans - $SYF $COF $UPST (over 50% loans to Auto) and variety of banks


@elonmusk could have avoided this $TSLA lawsuit with better punctuation