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Weekly Recap: Oct 17, 2020
A note last updated by
on Oct 17, 2020
For the week ending October 17th, 2020, equity markets finished the week slightly higher amid hopes of a fiscal stimulus package.
Retail sales increased more than expected, while jobless claims came in about 10% higher than consensus estimates.
Perhaps the most colorful event of the week unfolded as Disney appears to have yielded to the demands of activist investor Third Point. The prior week, Third Point had written Disney a letter arguing to permanently cancel the dividend and reinvest the capital into its streaming content. A copy of Third Point's letter to Disney is available here.
On Monday, October 12th, Disney issued a press release announcing a strategic reorganization.
Other major events from the past week included:
$COP ConocoPhillips is Rumored to be in Talks to Buy $CXO Concho Resources
$FSLY Fastly Lowered Guidance, sending the stock down over
$NKLA Nikola CEO Hints at "Plan B" if $GM Deal Unravels
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