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Bobby Kotick Comments On Activision Deal – InsideArbitrage Friday Wrap

  • May 12, 2023

FRIDAY WRAP

Our list of curated tweets for the current week

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Special Situations

$CTIC YES!!! Swedish Orphan Biovitrum AB agreed to buy US biotech CTI BioPharma Corp.


$CTIC makes acquisition #4 for 2023.


Franchise Group $FRG to be acquired by members of the senior management team of Franchise Group


Syneos Health confirmed our @business M&A scoop this morning


$COOP $HMPT Mr. Cooper Group to Acquire Home Point Capital for $324 Million in Cash


Canadian-led consortium plans to bid for Teck Resources’ coal business


On Saturday, Warren Buffett was asked about Microsoft's proposed $68.7 billion acquisition of Activision Blizzard


FTC chief Khan denies ‘outsourcing’ Microsoft merger fight to Europe


HEXO Corp. Announces Receipt of Interim Order in Respect of Arrangement With Tilray Brands, Inc.


Some perspective on the pending acquisition of $TA by $BP


China's #SAMR always takes 13-15 months on deals like this.


Long May 25 $FHN notes. 14% YTM vs pre-deal cancellation 7%.


Will you be having the chicken or the beef?


Vitru Announces 500K Share Buyback Program


$OEC Orion Engineered Carbons’ Board of Directors Authorizes New Share Repurchase Program


Devon Energy beats by $0.14, reports revs in-line, increases share-repurchase authorization by 50%


Hilton Grand Vacations stock rises after new share repurchase program, representing 11% of market cap


Comparing FCF growth to FCF per share growth reveals the effect of buybacks / SBC on growth.


Investing

Companies in the S&P 500 energy sector are trading at roughly 10 times projected earnings over the next 12 months.


The five mega-cap tech stocks have accounted for 89% of the S&P 500 YTD price return.


How Buffett does an FDIC-backed deal


Shares of Warren Buffet’s beloved Japanese trading houses reached record levels this week after announcing earnings and buybacks


$IAC just bought $104mm more of $TURO at an implied EV of $2.3bn


Block acquiring Tidal made no sense to me


$PYPL PayPal likes merchants to use branded checkout


 

Saw this chart in an EquityZen email pitching Stripe at $54 billion


Console, games and the new Mario movie, $NTDOY winning on multiple fronts.


$NTDOY remains utterly dominant in game sales with 13 of the top 16 game spots.


Excited to announce that I’ve hired a new CEO for X/Twitter. She will be starting in ~6 weeks!


NBCUniversal’s head of advertising Linda Yaccarino is in talks to become the new CEO of Twitter

 


Earnings

Disney+ has lost 4 million subscribers in Q2 2023.


Iger “is essentially daring DeSantis to sacrifice thousands of jobs and billions in future tax revenue for his state on the altar of his own personal political ambitions


A surprising lack of macro commentary on the $DIS call.


The S&P 500 seems stuck in this 3,800-4,200 range.


Catalent $CTLT delays Q3 third results & conference call


$AAPL Q2


Airbnb Q1 Earnings

 


Some thoughts on the $ABNB result.


$MCHP hiked dividends for the 77th consecutive quarter (!)


The U.S. Economy

Bank stocks haven't exactly been stellar performers over the years, but both regional banks and the largest money center banks are back below their pre-financial crisis highs.


18 Biggest Bank Failures


Initial jobless claims rose sharply to +264k, well above most forecasts.


40% of the #CPI basket (by weight) is in outright deflation.


CPI Core coming came out at 5.5%.


Inflation remains well above the Fed’s 2% target.


He owns restaurants. He knows what he's talking about.