Offshore
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App Economy Insights
📊 4 of the Magnificent 7 report this week:
$AAPL $META $MSFT $TSLA
What do you expect? https://t.co/AMIXrWDFz1
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📊 4 of the Magnificent 7 report this week:
$AAPL $META $MSFT $TSLA
What do you expect? https://t.co/AMIXrWDFz1
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Offshore
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InsideArbitrage
Activist Ancora to Push U.S. Steel $X to Drop Merger With Nippon Steel, Oust CEO - WSJ
✴️Ancora Holdings is preparing to wage a proxy battle at U.S. Steel and wants the company to turn the page from its failed marriage with Nippon Steel.
✴️Ancora intends to rally shareholders around a plan to oust U.S. Steel’s chief executive and drop litigation to salvage a merger with the Japanese steelmaker.
✴️The firm isn’t interested in pursuing a sale of U.S. Steel to another party.
✴️Ancora has nominated nine director candidates to U.S. Steel’s 12-person board, including former Stelco CEO Alan Kestenbaum. Stelco was acquired by Cleveland-Cliffs $CLF last year.
✴️Ancora believes U.S. Steel let shareholders down by selling to a foreign buyer rather than a domestic suitor and pursuing litigation rather than prioritizing financial and operational fixes.
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Activist Ancora to Push U.S. Steel $X to Drop Merger With Nippon Steel, Oust CEO - WSJ
✴️Ancora Holdings is preparing to wage a proxy battle at U.S. Steel and wants the company to turn the page from its failed marriage with Nippon Steel.
✴️Ancora intends to rally shareholders around a plan to oust U.S. Steel’s chief executive and drop litigation to salvage a merger with the Japanese steelmaker.
✴️The firm isn’t interested in pursuing a sale of U.S. Steel to another party.
✴️Ancora has nominated nine director candidates to U.S. Steel’s 12-person board, including former Stelco CEO Alan Kestenbaum. Stelco was acquired by Cleveland-Cliffs $CLF last year.
✴️Ancora believes U.S. Steel let shareholders down by selling to a foreign buyer rather than a domestic suitor and pursuing litigation rather than prioritizing financial and operational fixes.
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Offshore
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InsideArbitrage
Building-Products Distributor QXO $QXO Launching Hostile Bid for Beacon $BECN - WSJ
✴️QXO is preparing to take its all-cash offer to acquire Beacon Roofing Supply directly to shareholders after being rebuffed several times.
✴️QXO is planning to launch a hostile bid for Beacon as soon as Monday.
✴️It will offer to buy all shares outstanding of Beacon for $124.25 per share, the same price it previously proposed. That would value Beacon at $7.7 billion, or roughly $11 billion including debt.
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Building-Products Distributor QXO $QXO Launching Hostile Bid for Beacon $BECN - WSJ
✴️QXO is preparing to take its all-cash offer to acquire Beacon Roofing Supply directly to shareholders after being rebuffed several times.
✴️QXO is planning to launch a hostile bid for Beacon as soon as Monday.
✴️It will offer to buy all shares outstanding of Beacon for $124.25 per share, the same price it previously proposed. That would value Beacon at $7.7 billion, or roughly $11 billion including debt.
Beacon Roofing Supply $BECN has started soliciting interest from potential buyers as it looks to fend off an $11 billion takeover bid from rival QXO $QXO, Bloomberg reports.
Beacon is seeking to gauge interest from strategic and private equity suitors after QXO’s unsolicited approach was revealed this month. tweet
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InsideArbitrage
Source Capital $SOR Proposes Merger With 180 Degree Capital $TURN -
💰The proposal involves 180 Degree merging into Source in an all-stock transaction, valuing 180 Degree at 101% of its net asset value per share.
💰Source is being advised by First Pacific Advisors and has assembled a team of advisors, including Akin Gump Strauss Hauer & Feld as legal counsel.
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Source Capital $SOR Proposes Merger With 180 Degree Capital $TURN -
💰The proposal involves 180 Degree merging into Source in an all-stock transaction, valuing 180 Degree at 101% of its net asset value per share.
💰Source is being advised by First Pacific Advisors and has assembled a team of advisors, including Akin Gump Strauss Hauer & Feld as legal counsel.
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Stock Analysis Compilation
Platinium AM on Fanuc $6954 JP
Thesis: Fanuc is poised for growth as the US market prepares for a significant increase in manufacturing automation investments, driven by advancements in AI-capable robotics and supportive government policies.
(Extract from their Q4 letter) https://t.co/z9klZmyTHk
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Platinium AM on Fanuc $6954 JP
Thesis: Fanuc is poised for growth as the US market prepares for a significant increase in manufacturing automation investments, driven by advancements in AI-capable robotics and supportive government policies.
(Extract from their Q4 letter) https://t.co/z9klZmyTHk
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AkhenOsiris
Chanos has entered the chat! 😂
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Chanos has entered the chat! 😂
One of the great myths of the Dot.com Bubble was that Internet traffic was doubling every three months. It was still growing 100% every year, but not 1,000%. This miscalculation had huge implications for telecom capex going forward. - James Chanostweet
AkhenOsiris
Zuck: My earnings call is before yours Jensen! This DeepShit Chinese bullshit is overshadowing a good qtr.
Jensen: Ok, hear me out...Llama is open source...so is DeepShit...and it's doing some incredible stuff with much lower cost, so tell them you are going to copy their shit and it is extremely bullish for Meta, as FCF gonna ramp like a motherfucker.
Zuck: That is fucking awesome, ok, I'm going to pound FCF and cost discipline down their damn throats. But one thing...that means I am buying less of your GPUs no?
Jensen: Yes, I am fucked! But I have a few more weeks to figure out how to sell our inferencing capabilities and how Agents and Physical AI like robots are basically here (even though they aren't).
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Zuck: My earnings call is before yours Jensen! This DeepShit Chinese bullshit is overshadowing a good qtr.
Jensen: Ok, hear me out...Llama is open source...so is DeepShit...and it's doing some incredible stuff with much lower cost, so tell them you are going to copy their shit and it is extremely bullish for Meta, as FCF gonna ramp like a motherfucker.
Zuck: That is fucking awesome, ok, I'm going to pound FCF and cost discipline down their damn throats. But one thing...that means I am buying less of your GPUs no?
Jensen: Yes, I am fucked! But I have a few more weeks to figure out how to sell our inferencing capabilities and how Agents and Physical AI like robots are basically here (even though they aren't).
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AkhenOsiris
Some of the hilarity with this headline:
- Government cannot be happy with this
- Unlike TikTok, nothing to ban here, open source and all over the world now
- Furthermore, banning isn't the answer anyways. Copying is.
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Some of the hilarity with this headline:
- Government cannot be happy with this
- Unlike TikTok, nothing to ban here, open source and all over the world now
- Furthermore, banning isn't the answer anyways. Copying is.
JUST IN: Chinese AI platform DeepSeek overtakes ChatGPT on Apple's app download rankings in the US - The Spectator Indextweet
AkhenOsiris
My dad is confused, "why is it bad for the market that DeepSeek is making it cheaper to run AI?"
I asked him if he understood why certain stocks go down when "Amazon your margin is my opportunity" enters a market. He said of course I do.
The tantrum tonight is about margins for semi infra. Warranted? Maybe. If compute explodes (as you'd expect), maybe not? Maybe NVDA GM has peaked?
Regardless, markets always shoot first and rationality returns later. The fact that megacap earnings calls start this week, hopefully provides some clarity.
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My dad is confused, "why is it bad for the market that DeepSeek is making it cheaper to run AI?"
I asked him if he understood why certain stocks go down when "Amazon your margin is my opportunity" enters a market. He said of course I do.
The tantrum tonight is about margins for semi infra. Warranted? Maybe. If compute explodes (as you'd expect), maybe not? Maybe NVDA GM has peaked?
Regardless, markets always shoot first and rationality returns later. The fact that megacap earnings calls start this week, hopefully provides some clarity.
tweet