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GameStop Shares Decline as CEO Ryan Cohen Weighs Dropping $56 Billion eBay Bid for Partnership

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Microsoft CEO Satya Nadella says the US tech giant plans to invest $3 billion in India on AI and cloud infrastructure over the next two years

NEW YORK — Shares of GameStop Corp. fell 1.86% to $18.47 in morning trading on Wednesday as investors digested reports that Chief Executive Ryan Cohen is considering withdrawing the company’s $56 billion takeover proposal for eBay Inc. in favor of a partnership or joint venture.

The stock traded lower after opening near recent levels, reflecting continued caution following a sharp drop earlier this month tied to a major debt-for-equity swap and ongoing uncertainty around the retailer’s ambitious acquisition strategy. GameStop, the specialty retailer of video games, collectibles and electronics, has seen its shares decline roughly 28% since it first floated the eBay bid in May.

According to people familiar with the matter reported by Bloomberg, Cohen is exploring an alternative structure that would let eBay use GameStop’s roughly 1,600 U.S. retail locations to expand its physical presence in high-margin categories such as trading cards and collectibles. GameStop, already one of eBay’s largest shareholders with a stake that has grown to about 9.75%, would seek board representation as part of any such arrangement. No final decision has been made, and other options remain under consideration.

The original non-binding proposal, valued at $125 per share in a mix of cash and GameStop stock, was rejected by eBay’s board, which described the offer as “neither credible nor attractive.” GameStop has continued to build its position in eBay through share purchases and options, making it the second-largest holder behind Vanguard Group funds.

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The potential shift comes after GameStop announced on August 3 that it had agreed to privately exchange approximately $1.4 billion aggregate principal amount of its outstanding 0.00% convertible senior notes due 2030 and 2032 for shares of its Class A common stock. The exchange, expected to close around September 23 subject to customary conditions, retires the debt without using cash and is expected to leave roughly $1.1 billion of the 2030 notes and $1.7 billion of the 2032 notes outstanding. Shares fell more than 12% on the day of the announcement amid dilution concerns and volume that exceeded 41 million shares.

GameStop has reported improving operational results even as the eBay pursuit has dominated headlines. In its first quarter of fiscal 2026, ended May 2, the company posted net sales of $835.3 million, up 14% from $732.4 million a year earlier. Collectibles revenue jumped 65% to $348.9 million and accounted for nearly 42% of total sales, offsetting declines in software and hardware. Net income reached a company-record $389.6 million, compared with $44.8 million in the year-ago period, aided by operating improvements, lower selling, general and administrative expenses, and significant non-operating gains including unrealized gains on eBay-related options and interest income. Adjusted net income was $179.3 million.

Management has guided for adjusted EBITDA in excess of $600 million for the full fiscal year, nearly double the $345.4 million reported in fiscal 2025. The board also authorized a new $2 billion share repurchase program running through June 2029. GameStop ended the quarter with a substantial liquidity position that included billions in cash, marketable securities and related assets.

At its July annual meeting, stockholders approved an amendment increasing the number of authorized Class A common shares to 2.5 billion, providing additional flexibility for potential transactions or equity issuances. The company has also expanded its delivery options through a partnership with Uber Eats, allowing customers to receive video games, collectibles and electronics on demand.

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Cohen, who has steered GameStop through aggressive cost-cutting and a pivot toward higher-margin collectibles since taking a larger leadership role, withdrew a proposed long-term performance award earlier this summer. The package, which could have been worth more than $35 billion upon hitting ambitious market-capitalization and profitability targets, was removed at his request so leadership could focus fully on operating performance and the eBay initiative. GameStop said at the time that Cohen wanted attention centered on those priorities.

The retailer continues to operate a reduced but still substantial store base that management views as a core logistics and fulfillment asset rather than a pure retail liability. International operations have been streamlined, including the earlier exit from Canada, while domestic stores remain central to the strategy.

Market reaction has been mixed. Some investors point to the improved profitability, cash position and collectibles momentum as evidence of a more sustainable business. Others remain focused on valuation, the potential dilution from the note exchange, and the gap between GameStop’s market capitalization of roughly $8.4 billion and the scale of the eBay proposal. Shares have traded in a 52-week range of approximately $18.55 to $28.10.

GameStop’s next scheduled earnings report is expected in early September for the second quarter. Until then, attention is likely to remain on any further clarity regarding the eBay relationship and the impact of the convertible-note exchange once the share-issuance details are finalized based on a volume-weighted average price reference period that began in early August.

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The company has not issued an immediate public comment on the latest partnership discussions. As of the latest available filings and statements, GameStop maintains that its priority remains strengthening its core operations while evaluating strategic opportunities that could leverage its retail footprint and customer base in the growing collectibles and entertainment categories.

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Kulicke and Soffa: AI Packaging Is Creating A New Growth Engine

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Kulicke and Soffa: AI Packaging Is Creating A New Growth Engine

Kulicke and Soffa: AI Packaging Is Creating A New Growth Engine

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Obama Presidential Center Releasing New Museum Tickets Wednesday After Months-Long Sellout

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Former U.S. President Barack Obama

CHICAGO — The Obama Foundation will release a new batch of tickets to the Obama Presidential Center’s museum Wednesday, giving hopeful visitors another shot at admission after the museum’s initial ticket allotment sold out well into next year amid overwhelming demand.

Tickets to the museum, located on the center’s campus in the Woodlawn and Jackson Park area on Chicago’s South Side, are currently sold out through the end of 2026. The Obama Foundation will release a new round of tickets at 10 a.m. Central time Wednesday, covering select visitor dates running through January 3, 2027. The foundation has said it plans to continue releasing additional tickets on the second Wednesday of each month going forward, giving prospective visitors a recurring, predictable window to try to secure a spot.

In an announcement email sent to prospective visitors last month, the Obama Center warned that demand for the new batch of tickets was likely to be intense. “We expect high demand for tickets, and you may experience a wait when purchasing your Museum tickets,” the center said in the message, adding that visitors’ place in the online queue would be preserved even amid a potentially long wait. The foundation has advised ticket buyers to have a few backup dates in mind when purchasing, since their first-choice date may already be sold out by the time they reach the front of the queue.

Museum tickets range in price from $15 to $30. While admission to the museum itself requires a ticket, large portions of the broader Obama Presidential Center campus remain free and open to the public without any ticket required, including the Forum event space, the Home Court athletic facility, and a branch of the Chicago Public Library, all located on the center’s grounds. The museum itself sits within a four-story building on the center’s 19.3-acre campus in historic Jackson Park.

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The Obama Presidential Center’s museum officially opened to the public on June 19, 2026, following a star-studded grand opening celebration that drew significant national attention. Former first lady Michelle Obama spoke at the opening, delivering remarks that reportedly moved much of the crowd, including former President Barack Obama himself, to tears. The Obama Foundation has estimated the roughly $850 million campus could draw approximately 1 million visitors annually once fully operational, a figure that has already been reflected in the intensity of demand for museum tickets since the center’s opening.

Valerie Jarrett, chief executive officer of The Obama Foundation, described the center’s mission in a statement issued around the time of its opening. “We built the Obama Presidential Center to be a place where people,” Jarrett said, framing the campus as a space designed to bring together visitors from a wide range of backgrounds, offer inspiration, and send people away motivated to make a difference in their own communities.

Ticket access to the museum has followed a tiered release structure since the center’s opening. Founding Members of The Obama Foundation, who support the organization through ongoing membership contributions, receive exclusive early access to purchase tickets ahead of each public release, receiving a private, non-transferable presale link via email before tickets become available more broadly. Illinois residents also receive a standing benefit unavailable to out-of-state visitors: free museum admission every Tuesday, provided they reserve a Tuesday time slot in advance and can show proof of Illinois residency upon arrival.

According to the Obama Foundation, museum tickets are generally made available for visit dates roughly six months in the future, with additional dates opening up incrementally as each monthly release occurs. The foundation has cautioned that tickets are intended strictly for personal use and may not be resold or transferred through third-party platforms such as Facebook Marketplace, a policy aimed at preventing scalping given the sustained high demand for admission since the museum’s debut.

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Beyond the museum itself, the Obama Presidential Center campus continues to host a rotating slate of public programming, much of it free and accessible without a museum ticket. Upcoming events at the center include a screening of the animated film “Encanto,” a conversation among chefs and food industry leaders exploring how food reflects American cultural history, and a comedy event featuring Bill Nye, Keegan-Michael Key and Sophie Shrand scheduled for August 28. The center’s calendar of public programs has continued expanding in the months since its opening, part of a broader effort to establish the campus as an active civic and cultural gathering space beyond its role as a presidential museum.

The Obama Presidential Center differs from traditional presidential libraries in that it does not house official presidential records, which instead remain digitized and accessible through the National Archives and Records Administration. Instead, the center has been designed to function as a museum, public campus and community space centered on Obama’s presidency and broader themes of civic engagement, with the surrounding free amenities intended to draw sustained foot traffic from the local Woodlawn and South Side community regardless of museum ticket availability.

With demand for museum admission continuing to outpace available ticket supply months after opening, prospective visitors hoping to secure a spot for a fall or winter visit are being encouraged to log on promptly when Wednesday’s 10 a.m. release begins, given how quickly previous ticket batches have been claimed since the museum first opened its doors in June.

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McDonald’s adds Red Bull as it expands US beverage lineup nationwide

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McDonald's adds Red Bull as it expands US beverage lineup nationwide

McDonald’s is moving into energy drinks, teaming with Red Bull as the fast-food giant expands its beverage lineup while working to drive more customers to its U.S. restaurants.

Starting Aug. 17, participating McDonald’s restaurants nationwide will sell the Red Bull Dragonberry Energizer, marking the company’s entry into the energy drink category.

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The drink combines Red Bull with blue raspberry syrup and freeze-dried dragonfruit. Customers can substitute Red Bull Zero for a reduced-sugar version or purchase an 8.4-ounce can of Red Bull separately.

The beverage expansion comes as McDonald’s works to improve customer traffic after its U.S. business delivered slower-than-expected sales growth during the second quarter.

MCDONALD’S SAYS US SALES SLOWED AFTER VALUE DEAL PUSH FELL SHORT

McDonald’s Red Bull Dragonberry Energizer displayed between Red Bull and Red Bull Zero cans

McDonald’s is adding Red Bull to its U.S. menu with the new Red Bull Dragonberry Energizer starting Aug. 17. (McDonald’s / Unknown)

Comparable sales in the U.S., McDonald’s largest market, increased 0.8% during the quarter, below the 1.06% growth analysts surveyed by LSEG had expected. U.S. comparable sales grew 2.5% a year earlier.

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CEO Chris Kempczinski said execution problems, including inconsistent promotion of value offerings and reduced use of digital deals, contributed to weaker customer traffic.

“We don’t have a strategy problem. We simply didn’t execute at the level we needed to in the second quarter,” Kempczinski said.

McDonald’s CFO Ian Borden said the company planned to use more national digital offers and personalized promotions to “reenergize our high-frequency customers.”

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McDonald’s crafted sodas and specialty drinks displayed in McCafé cups

McDonald’s is expanding its beverage lineup with new crafted sodas and other specialty drinks at participating U.S. restaurants. (McDonald’s )

The Red Bull rollout builds on McDonald’s expansion of its core beverage lineup with crafted sodas and Refreshers.

“We’ve seen growing enthusiasm for our crafted sodas and refreshers as fans look for more variety and options to fit every occasion,” Alyssa Buetikofer, chief marketing and customer experience officer for McDonald’s USA, said. “They loved the Red Bull Dragonberry Energizer when we first tested it in the U.S., so we’re excited to give fans nationwide the energy they’ve been craving with Red Bull. And we’re just getting started.”

McDonald’s is also expanding its crafted soda lineup with a Vanilla Swirl, which combines vanilla flavor and cold foam with a choice of Coca-Cola, Diet Coke or Coke Zero Sugar.

Other offerings will vary by location and include Orange Dream with Fanta and reduced-sugar crafted sodas made with Diet Dr Pepper, Dr Pepper Zero Sugar and Sprite Zero Sugar.

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Ticker Security Last Change Change %
MCD MCDONALD’S CORP. 275.70 +1.55 +0.57%

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Both McDonald’s Refreshers and Red Bull Energizers contain caffeine, according to the company.

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STAAR Surgical Company (STAA) Q2 2026 Earnings Call Transcript

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OneWater Marine Inc. (ONEW) Q1 2026 Earnings Call Transcript