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Wall Street Breakfast Podcast: GameStop Adds eBay To Cart
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eBay (EBAY) rallies as GameStop (GME) launches bold $56B takeover attempt. (00:14) Spirit Airlines (FLYYQ) nears completion of passenger refunds after weekend shutdown. (01:22) A2 Milk (ACOPF) recalls U.S. infant formula batches after toxin detection. (02:49)
This is an abridged transcript.
GameStop (GME) has submitted a non-binding proposal to acquire 100% of eBay (EBAY) at $125 per share in cash and stock.
GameStop (GME), valued at nearly $12B, said Sunday it has built a 5% economic stake in eBay through derivatives and direct ownership of common shares.
eBay’s market cap stands at about $46B. The offer represents a 46% premium to eBay’s closing price on February 4, the day GameStop started accumulating its position in eBay (EBAY).
The proposed offer of $125 per share is comprised of 50% cash and 50% GameStop common stock.
The cash consideration is expected to be funded from a combination of (i) cash and liquid investments on GameStop’s balance sheet, which totaled ~$9.4B as of January 31, 2026, and (ii) third-party acquisition financing, in respect of which GameStop has received a highly-confident letter from TD Securities for up to $20B.
One topic that has been consistently trending this weekend is Spirit Airlines (FLYYQ).
A government bailout didn’t workout so the company officially began to wind down operations on Saturday, May 2.
Spirit’s (FLYYQ) collapse followed two bankruptcy filings in two years, repeated cost-cutting efforts and unsuccessful attempts to secure new financing. Rising jet fuel prices tied to the Iran conflict accelerated the carrier’s cash burn and helped force the shutdown.
All flights were cancelled and if you had a flight you were told not to go to the airport. If you were already at the airport, social media is full of videos showing stranded passengers scrambling trying to figure out what to do next.
You would think the story ends there because this isn’t the first airline to crumble. But it doesn’t.
Let’s buy spirit or Let’s buy spirit air started on social media when an aviation enthusiast Hunter Peterson proposed buying the company. He says it started as a joke but he may be on to something. So far, more than $88M has been pledged on the site.
Spirit Airlines (FLYYQ) said Sunday it has nearly finished issuing refunds to passengers and transporting crew members back to their home bases after halting operations over the weekend.
The carrier said most travelers who purchased tickets using credit or debit cards had received refunds by Saturday evening, with only a small share of transactions still being finalized.
Spirit (FLYYQ) also said the last remaining group of roughly 1,500 crew members made it back to their home base.
A New Zealand-based company is recalling certain infant formula products sold in the United States after batches were found to contain cereulide, a toxin associated with sudden nausea and vomiting.
a2 Milk (ACOPF) (ACOPY) said Monday in Wellington that three batches of a2 Platinum formula made for the U.S. market are affected. Manufacturer Synlait Milk identified the toxin, prompting the recall, which began May 1. The action applies only to the United States and does not affect China, the company’s largest and most profitable market.
The company said it has received no confirmed reports of infant illness or injuries linked to the affected product.
Shares of a2 Milk (ACOPF) (ACOPY) fell as much as 7.3% to NZ$8.25 in Wellington trading.
The recall covers three batches totaling 63,078 tins, of which an estimated 16,428 were sold to consumers.
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Stock index futures are mixed as investors continue to monitor any developments related to the U.S.-Iran conflict.
President Trump said the United States will begin helping some neutral vessels stranded in the Persian Gulf transit the Strait of Hormuz starting Monday.
Trump also said U.S. officials are holding “very positive discussions” with Iran that could result in something “very positive for all,” though he did not elaborate.
Crude oil is up 0.9% at $102. Bitcoin is up 1.5% at $79,000. Gold is down 0.7% at $4,580.
The FTSE 100 is down 0.1% and the DAX is little changed. China’s (SHCOMP) market closed for a holiday.
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Editor’s Note: This article discusses one or more securities that do not trade on a major U.S. exchange. Please be aware of the risks associated with these stocks.
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Gallup finds AI not eliminating creative jobs despite exposure fears
Constellation Research founder R Ray Wang assesses Meta, Alphabet and Microsofts artificial intelligence spending on Varney & Co.
The rise of artificial intelligence (AI) has raised concerns about a potential negative impact on jobs in creative fields, but a new analysis finds that those jobs aren’t disappearing even as AI reshapes creative work.
A report by Gallup examined a study from the Journal of Cultural Economics, which found little evidence that generative AI has broadly reduced artists’ earnings based on data from the Gallup Workforce Panel and federal labor market data.
The analysis used a scoring system from a 2024 occupational exposure index to gauge how exposed a given job’s tasks are to generative AI – such as what tasks a large language model could plausibly perform or assist with.
Within artistic professions, exposure to AI varied widely. For example, music directors and composers had an exposure score of about 0.7, which implied that a substantial portion of their tasks involve composition or production that AI tools may help draft or modify; while special effects artists and animators had a score of 0.54 and disc jockeys, art directors and other producers and directors were around 0.5.
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The analysis found that AI isn’t causing the loss of artistic jobs, even as it factors into tasks for some roles. (recep-bg/Getty Images)
Among the artistic roles with less AI exposure were dancers, whose exposure score was about 0.04, while actors scored around 0.18, craft artists and choreographers were around 0.27 to 0.28. The primary work in these fields involves live presence, interpretation and physical skill that generative AI can’t easily substitute.
“The evidence does not show large negative effects when examining the impact of AI on jobs. Using employment and wage statistics from the Bureau of Labor Statistics between 2017 and 2024, earnings trends for artistic occupations with higher exposure to generative AI look broadly similar to those with lower exposure,” Gallup said. “The estimates are slightly positive, though they are not statistically distinguishable from zero.”
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Creative workers in some artistic professions are more exposed to AI tools than others. (Myung J. Chun / Los Angeles Times via Getty Images)
The report noted that data around employment patterns was more mixed, with some highly exposed artistic occupations experiencing weaker job growth in 2023 relative to those with less exposure.
“Even so, the differences are modest and far from the widespread job losses that discussions of AI and job displacement often assume,” Gallup noted.
Census Bureau data from the American Community Survey also showed that artists in more AI-exposed occupations saw a modest rise in earnings in 2023 that faded somewhat in 2024. Around that period, total hours worked rose more clearly starting in 2022 and remained elevated through 2024.
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AI tools can assist creative workers with certain tasks in the editing process, like editing audio or video. (FNC)
Data from Gallup’s Workplace Panel showed that employees in artistic occupations reported somewhat higher AI use than the overall workforce, with about one-in-four saying they use AI frequently as compared with about one-in-five workers in the broader economy. It also
“Artists are more likely than other workers to report using AI for idea generation and creative exploration. They also report using it to automate small tasks, consolidate information and support collaboration. Artists are, not surprisingly, less likely to use AI for operational tasks such as customer interaction or equipment management,” Gallup wrote.
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“These patterns suggest generative AI playing a role primarily in the early stages of creative work – helping artists experiment with ideas, iterate quickly and organize parts of the creative workflow. Generative AI could also enable artists to have more agency over their own careers by augmenting their ability to produce branding documents, craft outreach, and automate otherwise mundane tasks with travel and accommodation,” it added.
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Palace Announces Summer Baby for Royal Couple
LONDON — Buckingham Palace announced Monday that Princess Eugenie and her husband Jack Brooksbank are expecting their third child together, due this summer, delighting royal watchers and marking another joyful chapter for the extended Windsor family. The news comes as the 36-year-old princess, daughter of Prince Andrew and Sarah Ferguson, continues balancing public duties with private family life alongside her two young sons.
In an official statement, the Palace said: “Her Royal Highness Princess Eugenie and Mr Jack Brooksbank are very pleased to announce that they are expecting their third child together, due this summer. His Majesty The King has been informed and is delighted with the news.” The couple’s sons, August Philip Hawke Brooksbank, 5, and Ernest George Rupert Brooksbank, 2, are said to be “very excited” about welcoming a new sibling.
Princess Eugenie shared the happy news on her personal Instagram account with a sweet family photo showing her two boys holding up a sonogram image. She captioned it simply: “Baby Brooksbank due 2026!” followed by a string of red heart emojis and a baby emoji. The post quickly went viral, amassing hundreds of thousands of likes and congratulatory comments from fans and fellow royals within hours of its publication.
The announcement marks the latest addition to King Charles III’s growing roster of grandchildren. The new baby will be 15th in line to the British throne and the King’s 15th great-grandchild. Sources close to the family say the pregnancy has progressed smoothly so far, with Eugenie feeling well and excited to expand her young family. The couple, who married in a private ceremony at St. George’s Chapel in Windsor in 2018, have maintained a relatively low public profile while focusing on raising their children away from intense media scrutiny.
Eugenie, known for her philanthropy and work with organizations supporting children and the arts, has spoken openly in the past about the joys and challenges of motherhood. Friends describe her as a devoted parent who prioritizes family time at their home in Portugal and the UK. Jack Brooksbank, a wine merchant and brand ambassador, has been equally hands-on with their two boys, often sharing glimpses of family adventures on social media.
The timing of the announcement coincides with a period of relative stability for the royal family following recent health challenges for senior members. King Charles and Queen Camilla are said to be thrilled, as are the Duchess of York and Prince Andrew, who maintain a close relationship with their daughter. Public reaction has been overwhelmingly positive, with many praising Eugenie’s warmth and accessibility compared to more senior royals.
Royal commentators note that Eugenie’s growing family further cements her role as a modern working royal who balances public service with private happiness. Unlike some of her cousins, she has carved out a life that includes charitable work, business interests and family without the full weight of senior royal responsibilities. Her openness about mental health and motherhood has resonated with many young women navigating similar life stages.
The couple’s two sons have occasionally appeared in family photos and at low-key royal events. August, born in 2021, and Ernest, born in 2023, are already showing distinct personalities, with Eugenie often describing them as energetic and curious. The new arrival, expected in the warmer months, will complete their young family and likely bring more joyful family moments shared selectively with the public.
This pregnancy comes after Eugenie’s previous births, both of which were announced in similarly understated fashion. The couple has consistently chosen privacy for their children while still allowing fans occasional glimpses into their lives. Supporters appreciate this balanced approach, which contrasts with the more intense media attention faced by other royal parents.
As summer approaches, anticipation will build for the new royal baby’s arrival. While details about the due date, gender (if known) and birth plans remain private, the family is expected to share limited updates when appropriate. In the meantime, well-wishers from around the world continue sending congratulations and positive messages to the growing Brooksbank household.
The news provides a welcome moment of celebration for the royal family and the British public amid ongoing global headlines. Princess Eugenie’s expanding family reflects the next generation of younger royals building their own legacies while honoring tradition. For Eugenie and Jack, it marks another chapter of love, growth and new beginnings in their shared journey.
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United soars into premium travel
United Airlines is making a decisive bet on the future of air travel based on premium seats, champagne flutes and loyalty.
United Airlines chief executive Scott Kirby recently revealed a sweeping cabin overhaul following which nearly half the seats on some long-haul aircraft will be dedicated to higher-yield passengers: a striking shift that underscores how sharply the economics of flying are changing.
At the centre of the strategy is a reimagined Boeing 787-9 configured with up to 99 premium seats: far beyond what United has historically offered, and a clear signal that the airline sees its future not in filling planes, but in filling them profitably.
The world’s largest airline, United Airlines is a partner airline with Virgin Australia and operates from Melbourne, Sydney and Brisbane, with Virgin code-sharing on its flights.
United will add more than 250 aircraft over the next two years to further modernise its fleet, introduce new aircraft variants, create a new experience for transcontinental travellers, and roll out new onboard products for every customer: reinforcing its position as a leading premium airline.
In a major move, United is bringing widebody-style experiences to its new narrowbody aircraft: the new ‘Coastliner’ Airbus A321 and A321XLR (the same model that Qantas is adding to its fleet).
These are United’s first narrowbodies with the new elevated interior. They feature an all-aisleaccess lie-flat seat suite dubbed ‘United Polaris’ (business class), which is available on international routes.
United has 100 of these new aircraft coming into its fleet to replace 40 older, less-efficient Boeing 757s.
The Coastliner will have a specially designed livery and fly exclusively between United’s US west coast hubs in San Francisco and Los Angeles, and Newark-New York in the east. It will introduce the United Polaris cabin experience to domestic travellers.
United’s A321XLR gives travellers access to 32 premium seats – 16 more than the 757 it replaces – and will start flying later this year.
United’s new 787-9 with the elevated interior will fly internationally, starting on April 22.
These aircraft include the airline’s new United Polaris studio: lie-flat, all-aisle-access seats that are 25 per cent larger than standard United Polaris seats. They include privacy doors, an ottoman for companions on some seats, exclusive meal service with wine pairings and caviar, new amenity kits with retail-size offerings, wireless charging, Bluetooth connectivity, and a 27-inch 4K OLED seatback screen (the largest among US airlines).
The announcement expands on the ambitious ‘United next’ growth strategy announced in 2021. Since that time, United has: added 22 Boeing 787 Dreamliners, 237 Boeing 737 MAX aircraft and 67 Airbus A321neos; completed 70 per cent of its plan to retrofit its mainline narrowbody fleet; replaced more than 100 regional jets with larger mainline aircraft; increased premium seats per North American departure by 40 per cent; and hired more than 60,000 people.
“For more than a decade, we’ve invested billions of dollars in our product, service and technology as part of our plan to be the best brand-loyal airline in the world, and the result is that more and more customers are choosing to fly with us every day,” Mr Kirby said at the announcement.
“Today we accelerate our plans and elevate our offerings to the next level, creating an even more consistent premium onboard experience for every customer and delivering value across every cabin of service.”
The airline’s executive vice-president and chief commercial officer, Andrew Nocella, said the upgrades provided more choice for passengers.
“These new planes and products not only complement our fleet and network plans, but they also give our customers more premium amenity and seat choices, whether they bought a basic economy ticket to fly from Chicago to Fort Wayne or are flying Polaris between San Francisco and Singapore,” he said.
“United is setting the pace and innovating for our customers at a scope and scale unheard of in aviation history. And we’re not taking our foot off the gas.”
In another example of its push into premium products, the airline has announced that it has licensed Air New Zealand’s Skycouch, which it will market as the United Relax Row.
The concept turns a set of three economy seats into a couch or bed, creating a far more comfortable option for customers travelling in the economy cabin on long-haul flights.
United is the first North American airline to offer the seating option and holds North American exclusivity on the design.
The new dedicated row of three seats is outfitted with individually adjustable leg rests that fold up at a 90-degree angle to create room to sleep, stretch out or watch a movie.
The United Relax Row is ideal for families travelling with small children, solo travellers, and couples who want a little extra comfort.
Passengers travelling in United Relax Row will receive additional amenities for their flight, including a custom-fitted mattress pad, a specially sized plush blanket, two additional pillows, as well as a plush toy and children’s travel kit for families.
United expects its Relax Row to launch in 2027 and plans to offer it on more than 200 Boeing 787 and 777 widebody aircraft by 2030.
The seats will be located between economy and premium plus seating, and United will offer up to 12 Relax Row sections on each aircraft.
United has 1,075 aircraft in its mainline fleet and 623 on order.
The airline is also investing in future aircraft concepts. These include options to purchase 100 eVTOL (electric vertical take-off and landing) aircraft from Archer Aviation and 200 from Eve Air Mobility, a division of Embraer.
The airline has also committed to purchasing 100 ES-30 electric turboprop regional aircraft from Heart Aerospace, with options for up to 50 more.
At the other end of the market, it has committed to purchasing 15 Boom Overture 60-passenger supersonic aircraft, with options for up to 35 more.
However, its most ambitious move is a bold step towards reshaping the future of air travel, with a major investment in JetZero’s blended wing body (BWB) aircraft.
This next-generation design promises not only dramatic fuel efficiency gains but also a transformative flying experience for passengers.
The agreement includes the potential to order up to 100 of JetZero’s BWB aircraft, with an option for another 100, contingent on key development milestones, including the successful flight of a full-scale demonstrator (expected in 2027).
If the technology delivers as envisioned, it could mark one of the most significant advances in commercial aviation in decades.
Unlike traditional aircraft, JetZero’s blended wing body design fuses the fuselage and wings into a single aerodynamic form. This innovation allows the aircraft to generate lift across its entire wingspan while significantly reducing drag, potentially slashing fuel burn by up to 50 per cent per passenger mile compared to similarly sized jets.
For United, the potential payoff is enormous: lower carbon emissions, reduced operating costs, and a leap forward in customer comfort.
The JetZero Z4 aircraft, designed to seat 250 passengers, runs on conventional jet fuel but will be capable of using sustainable aviation fuel blends.
The US Air Force has also recognised JetZero’s promise, awarding the company a $US235 million contract in 2023 to accelerate development of its full-scale demonstrator.
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Currently leading research at Leverage Shares, I have longstanding professional experience with financial markets. All views are my own, and I can assure you that I smile sometimes. M.S.F, M.B.A., IIT Chicago.My investment style is purely agnostic, informed by facts and highly data-driven. I consider macroeconomics to assess strategic/sector viability for long-term investments, business line item trends for company/stock viability and market data trends for tactical/investment decisions. Asia (India, China, et al) is an area of deep interest. On asianomics.substack.com, I do deep dives on businesses, narratives, economic trends and developments in the region and also publish the fullness of the rationale behind my proffered commentary that appear in media publications all over the world. There’s no subscription cost. Note: Leverage Shares is an ETP provider that offers daily-rebalanced products in leveraged, unleveraged, inverse and inverse leveraged factors. The company holds both long and short positions in a number of stocks (some of which might get a mention in some articles) in order to construct its products. Please consider risk factors carefully before investing in them.
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Stock Futures Drop on Report of Iran Attack on US Warship
Stocks were to drop on Monday after Iranian state media said missiles had hit a U.S. warship in the Strait of Hormuz, stoking fears that the war in the Middle East could escalate again.
Futures tracking the Dow Jones Industrial Average slumped 194 points, or 0.4%. S&P 500 futures fell 0.1% and contracts tied to the tech-heavy Nasdaq 100 were broadly flat.
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Ratos AB (publ) (RTOBF) Q1 2026 Earnings Call Transcript
Operator
Welcome to Rato’s Q1 Earnings Call 2026. [Operator Instructions]
Now I will hand the conference over to CEO, Gustaf Salford; and CFO and IR, Anna Vilogorac. Please go ahead.
Gustaf Salford
President & CEO
Good morning, everyone, and thank you for joining us today. I will begin with a brief overview of the quarter, and then Anna will go through the financials in more detail.
Overall, we delivered solid growth in what continues to be a mixed market environment. Net sales increased by 3.4% and adjusted EBITA came in at SEK 460 million (sic) [ SEK 417 million, ] corresponding to a margin of 9.3% and EBITA growth of 21%. Adjusted earnings per share was SEK 0.67, an increase of 81% compared to last year.
We had a strong start of the year in our industrial product companies. Diab and HL Display both posted healthy growth. On the industrial services side, the quarter was more challenging. Both Knightec Group and Aleido faced softer demand and tougher market conditions.
Our results for the quarter was negatively impacted by 2 main factors: First, lower volumes and gross margins among our technical consulting businesses. And secondly, at Speed, we continue to invest in automation to increase capacity and efficiency over time, which temporarily affected profitability as we absorb these investments.
During the quarter, we also launched our strategy, Ratos 2030. The strategy reflects a clear direction. Ratos is returning to its roots as a focused
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New Mexico Cartel Theories and Family Drama Claims Swirl as Search Hits Month 4
TUCSON, Ariz. — As the search for 84-year-old Nancy Guthrie entered its fourth month on Monday, May 4, 2026, fresh online rumors linking her abduction to Mexican cartels, possible family connections and staged elements have intensified public speculation, even as authorities maintain the investigation remains active with no named suspects or arrests. The mother of “Today” show co-host Savannah Guthrie was taken from her Catalina Foothills home on the night of Jan. 31 in what investigators describe as a targeted kidnapping, with blood spatter, a tampered doorbell camera and her pacemaker disconnecting shortly after 2:30 a.m. providing key early evidence.
Pima County Sheriff’s Department and FBI officials continue analyzing DNA samples, including potentially critical new material recovered from the home, while reviewing more than 30,000 tips. Savannah Guthrie has publicly stated she believes at least two ransom notes are genuine, though many others have been dismissed as hoaxes. The family’s $1 million reward remains active alongside a $50,000 federal offer, yet no verifiable proof of life has emerged in recent communications.
Online speculation has exploded in recent weeks. Some true-crime forums and social media accounts claim connections to Mexican cartels operating near the Arizona border, citing the proximity to Sonora and unverified notes mentioning sightings in Mexico. Others allege internal family drama or a staged disappearance for financial gain, prompting strong pushback from Savannah Guthrie and law enforcement. Sheriff Chris Nanos has repeatedly cleared all immediate family members as suspects, describing them as cooperative victims.
Former FBI agents and profilers have weighed in publicly. Some suggest a straightforward ransom motive with possible cross-border elements, while others caution against unverified theories that could hinder the probe. One circulating rumor points to a masked intruder seen on footage and alleged prior incidents around the home, fueling speculation of planned targeting rather than random crime. Authorities have not confirmed these details but continue examining surveillance from earlier dates.
Savannah Guthrie returned to the “Today” show in early April after taking time away, using her platform to urge focus on credible tips and reject conspiracy narratives. In interviews, she expressed both hope for her mother’s safe return and acknowledgment of the grim reality after three months. The emotional toll on the family remains evident as they balance public appeals with private grief.
Forensic developments include ongoing FBI laboratory testing of additional DNA, such as hair samples from inside the home. Earlier glove DNA led to a dead end, belonging to an unrelated person. Ransom communications have included cryptocurrency demands, with some notes providing details that investigators initially lacked, lending them partial credibility according to Savannah.
The case has drawn intense national and international attention, with rumors amplified by true-crime podcasts, YouTube channels and social media. Claims of family involvement or staged elements have been particularly persistent online, despite official denials. Ed Smart, father of Elizabeth Smart, recently warned against such speculation, emphasizing its potential harm to the investigation and family.
Community members in the affluent Catalina Foothills area express ongoing concern and vigilance. Nancy Guthrie was remembered as an independent widow who lived in the same home for decades. Her pacemaker data and signs of forced entry, including a propped-open back door, convinced authorities she did not leave voluntarily.
As the fourth month begins, the sheriff’s department renewed its plea for information, stressing the case is still active. No shift to cold-case status has occurred, with resources dedicated to digital evidence, vehicle sightings and potential cross-border links. The FBI’s involvement underscores the seriousness, with coordination for possible international elements.
Legal and profiling experts offer varied perspectives. Some see financial motivation as most likely, while others note the targeted nature and lack of immediate ransom success could indicate more complex motives. The volume of false leads and hoaxes has complicated progress, with one man already charged in connection with a fake ransom text.
The Guthrie family continues balancing hope with realism. Savannah has spoken of a possible “miraculous homecoming” while acknowledging the difficult passage of time. Public support remains strong, with many following developments closely and sharing verified information channels.
Nancy Guthrie’s disappearance highlights vulnerabilities for elderly residents and the challenges of high-profile abduction cases. Massive public interest generates helpful tips alongside distracting rumors and unverified claims. Authorities urge caution and focus on credible leads to avoid hindering the investigation.
As May progresses, forensic results and new tips could provide breakthroughs. For now, the case of Nancy Guthrie remains one of 2026’s most perplexing mysteries, with rumors filling the void left by limited official updates. The family and investigators continue their quiet determination, hoping for resolution in what has become a deeply personal and public ordeal.
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