|  | *past 24-hour performance |
| | Penn ditches Barstool for ESPN: Disney (DIS) in a major about-face regarding gambling, announced a betting joint venture between ESPN and casino operator PENN Entertainment (PENN), which soon will rebrand its Barstool Sportsbook to ESPN Bet. (Axios)
No more China deals: The U.S. is set to ban PE and VC investments in some Chinese technology companies under an executive order the Biden administration will release today. (Bloomberg)
Americans’ credit-card debt just hit $1 trillion: Americans’ collective credit-card bill rose to $1.03 trillion from $986 billion in Q2, according to the household debt report released by the Federal Reserve Bank of NY. (CNN)
New lending by mortgage REITs has dried up: Companies like Starwood Property Trust (STWD) are slowing mortgage lending in an effort to protect their finances from defaults, which have grown more common. (WSJ)
Weight-loss drug frenzy continues: Shares of Eli Lilly (LLY) and Novo Nordisk (NVO) both soared to record highs yesterday, as sales increased of Eli Lilly’s Mounjaro and as Novo Nordisk reported a promising clinical trial of its drug Wegovy. (Forbes)
Anheuser offloads 8 beers: Canadian cannabis producer Tilray Brands (TLRY) is adding to its alcohol portfolio with the acquisition of 8 beverage brands from Anheuser-Busch (BUD). (Yahoo)
SEC hates private chats: U.S. regulators announced a combined $549 million in penalties against major banks (mainly Wells Fargo) that failed to maintain electronic records of employee communications. (CNBC)
Paramount jumps on streaming progress: Paramount (PARA) reported an addition of 700k subscribers to Paramount+ in Q2 following its June Showtime integration, bringing its total to 61 million. (TechCrunch)
ADT doing everything to pay down debt: Security firm ADT (ADT) will sell its commercial security, fire and life safety unit to private equity firm GTCR for $1.6 billion; will use proceeds to cut debt. (Reuters)
Dish might re-buy EchoSTar: Dish Network (DISH) is proposing to buy EchoStar, the satellite network operator it once owned, in an all-stock deal valued at about $4 billion. (CNBC)
WeWork said it could go bankrupt. The coworking company that was valued at $47 billion just four years ago warned there was “substantial doubt about our ability to continue as a going concern.” (CNBC)
| | | | In partnership with VinoVest
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| | Playing inflation (Part II): As the price of oil contInues to rise we looked to one of our go-to analysts to review the "picks and shovels" of the industry. Inside, Kuppy revisits one of his favorite plays against today’s ransack inflation. Read more » | Farewell to the I-bond frenzy: Since the yield on Series I savings bonds dropped in May, investors have redeemed about $800 million worth of the securities, more than in all of 2021. That’s a big change from last year, when Americans piled into I bonds to shield their savings from inflation. Read more » | The risks hidden in public pension funds: Attracted by promises of high returns, many public pension funds have been loading up on private equity but may not fully appreciate the dangers. Read more » |
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| | The fed hits 3,000% Inflation (AIER) Are you smarter than a scammer? Play this game (Washington Post) China bans negative economic commentary, mentions of "Deflation" (ZeroHedge) Poland to send 2,000 troops to reinforce Belarus border (Reuters) The $10 billion man: How Nike lost Lionel Messi to Adidas for a 'few hundreds bucks of tracksuits' (Inc)
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| |  | Charlie Bilello @charliebilello |  |
| At $46,229, the average transaction price for a new car in the US is now over $11k higher than the average price from three years ago. That's a 31% increase. |  | | | Aug 7, 2023 | | |  | | | 1.02K Likes 318 Retweets 72 Replies |
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