Tag Archives: GameStop

GameStop is letting someone sell an NFT that references a 9/11 photo

Less than two weeks into its soft launch, GameStop’s NFT marketplace is already courting controversy. Among the NFTs listed on the platform is an artwork called “Falling Man” that was . There’s no mistaking it, the NFT references one of the most iconic photos of the early 21st century. “The Falling Man” is part of a series of images captured by Associated Press photojournalist Richard Drew on the morning of September 11th, 2001. Of the 2,753 people who died inside the World Trade Center and surrounding area that day, it’s estimated that at least 100 individuals fell to their death while the towers were still standing.

“This one probably fell from the MIR station,” says the NFT’s description, referencing Russia’s decommissioned space station. The artwork’s creator is selling two different versions of “Falling Man,” with the cheapest listed at 0.65 Ethereum or about $990. As Web3 is Going Great points out, GameStop operates a curated NFT marketplace. Artists must apply and pass a vetting process before they can list their tokens for sale. The company takes a 2.25 percent cut of sales. GameStop did not immediately respond to Engadget’s comment request.

Artistic theft is a major issue in the NFT space. On platforms like OpenSea where people can mint tokens for free, . While you could make the argument that “Falling Man” doesn’t fall into those categories and that artists should be free to reference past works and tragedies, it’s also true that this NFT trivializes the falling man’s fate, reducing his final moments into something to be sold for a profit.

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BioWare’s Anthem Now Costs One Penny At GameStop

If you’ve been holding out this long, maybe now’s the right time?
Image: EA / Kotaku / Tetra Images (Getty Images)

File this one under funny or sad. Or both. Anthem, BioWare’s doomed loot shooter from 2019 can now be purchased used for very cheap. Like one penny cheap if you’re in the right place. Or, if you’re like TikTok user ClockLava, you might just get it for free from a generous GameStop employee who spots you that single copper piece to save you the effort. Hey, the servers are still up for now…maybe there’s fun to be had?

If you aren’t familiar with the game, Anthem was BioWare’s attempt to catch some of that fire that has everyone jazzed about games like Destiny 2 or Warframe. It had a far flung sci-fi premise where you played as a “Javelin,” suited up in gear that turned you into Iron Man. The game unsurprisingly set you out to shoot stuff and collect all the armors and all the loots. Success for these kinds of games isn’t guaranteed. Destiny notoriously had a rough first impression, and Warframe took a while to rise above the status of “that neat free PS4 game.” Anthem lacked enough substance on release to earn its place for gamers following its tumultuous development, filled with conflicting visions for the title and tons of crunch to make up for poor plans and lost time.

Like many doomed-at-first games these days, it was assumed Anthem would have a glorious No Man’s Sky comeback. Or would at least try to. While work was being done to move the game in a better direction. EA killed the revival efforts and sentenced the game to slow death last year. So, it’s no surprise to see the game ending up on the bargain-of-bargains shelf.

As reported by Fanbyte, the discovery was a surprise to TikToker ClockLava. “So I just went to GameStop and they had Anthem for a fucking penny,” ClockLava opens their video with, as Star Wars’ “Duel of the Fates” appropriately blares in the background. At first, they expressed doubt that this was at all real: “When I went to buy this I was like ‘there’s no way this is actually a penny,’” but it seems, if the video is to be believed, that this is indeed what you may find in your average used bin of last gen titles.

ClockLava goes on to say that the GameStop employee who handled their “purchase,” said that game’s costing $0.01 are often bad. Sound logic. The employee then offered to buy the game for ClockLava before they could even fish out a penny from their purse. What a nice gesture! It’s worth noting that Anthem currently lists for as much as $59.99 on GameStop’s website, so this may only be a deal you can score based on your average GameStop’s used inventory.

Kotaku has reached out to GameStop for comment.

If you’re one who keeps an eye on sales and great used deals, you might be familiar with Anthem’s plummeting prices. Just two weeks ago, Reddit user Spider-Man_Fan posted a screenshot of their score: count ‘em, that’s 37 (in a row) copies of Anthem, most of which are sealed, marked at $0.01 on their receipt, and add up to a total cost of $0.41 after tax. You’d lose money by not buying it!

They gotta be worth something some day, right?
Screenshot: Spider-Man_Fan / Kotaku

Here’s what’s really sad about this: If you ever worked at a GameStop, you might be familiar with the term “pennying out.” It refers to the final stop before a product gets trashed. Literally. In the garbage. For those in the know, it’s a great way to pick up random collector’s editions of games and other random products that just faded the fuck away. I myself have hardcover copies of guides for The Witcher 3 and Metal Gear Solid V that each cost literally a penny.

Before Anthem’s plummet to a penny for a used copy, it wasn’t uncommon to see the average question on r/AnthemTheGame concerning whether it was at least “two dollars fun” when it was hovering around that price. From my personal experience, it’s been a game that’s frequently been the subject of random texts from people I don’t talk to much, usually with a picture of Anthem’s box in a store somewhere listed for like four bucks with the question: “worth it?” Mass Effect: Andromeda is usually the follow up text to that. Ouch, BioWare.

So. Is Anthem worth a penny? Like most, I acquired it somehow, at some point, and have played it once or twice. I feel some urge to jump in to at least see everything before EA and BioWare inevitably pull the network cables from their servers, but honestly, given the absolute shitshow that was that game and that game’s development, I dunno, maybe a penny is a bit too much. I’ll wait for the next sale.

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Tesla, Netflix earnings, GameStop stock split, existing home sales top week ahead

Investors are in for a slew of major corporate earnings this week along with fresh housing and manufacturing data. 

A better-than-expected retail sales report helped power stocks to gains on Friday with the Dow Jones Industrial Average rising 2.1%, while the S&P added 1.9% and Nasdaq Composite jumped 1.8%. Despite the rally, all three of the benchmarks fell for the week after consumer and producer prices climbed to fresh highs.

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 31288.26 +658.09 +2.15%
SP500 S&P 500 3863.16 +72.78 +1.92%
I:COMP NASDAQ COMPOSITE INDEX 11452.421129 +201.24 +1.79%

FOX Business takes a look at the upcoming events that are likely to move financial markets in the coming days. 

COPPER PRICES SINK, FLASHING ANOTHER RECESSION WARNING

Monday 7/18

Kicking off the week for earnings will be Bank of America, Charles Schwab, Goldman Sachs, Prologis and Synchrony Financial before the market open. IBM will take the earnings spotlight after the bell. 

Ticker Security Last Change Change %
BAC BANK OF AMERICA CORP. 32.25 +2.12 +7.04%
SCHW THE CHARLES SCHWAB CORP. 62.18 +1.61 +2.66%
GS THE GOLDMAN SACHS GROUP INC. 293.87 +12.28 +4.36%
PLD PROLOGIS INC. 121.01 +2.88 +2.44%
SYF SYNCHRONY FINANCIAL 31.39 +1.41 +4.70%
IBM INTERNATIONAL BUSINESS MACHINES CORP. 139.92 +0.86 +0.62%

As for economic data, investors will be focusing on the NAHB housing market index.

Ticker Security Last Change Change %
BA THE BOEING CO. 147.74 +0.59 +0.40%

Also on Tuesday, Boeing will show off its newest versions of the 737 Max and 777X during the Farnborough International airshow. 

Tuesday 7/19

On Tuesday, Ally Financial, Citizens Financial Group, Halliburton, Hasbro, Johnson & Johnson, Lockheed Martin and ManpowerGroup will deliver quarterly earnings results before the market open. 

Ticker Security Last Change Change %
ALLY ALLY FINANCIAL INC. 34.43 +1.29 +3.89%
CFG CITIZENS FINANCIAL GROUP INC. (RHODE ISLAND) 36.80 +1.87 +5.35%
HAL HALLIBURTON CO. 27.86 +0.52 +1.90%
HAS HASBRO INC. 79.21 -0.18 -0.23%
JNJ JOHNSON & JOHNSON 178.23 +2.55 +1.45%
LMT LOCKHEED MARTIN CORP. 398.38 -1.93 -0.48%
MAN MANPOWERGROUP INC. 76.48 +1.09 +1.45%

Stocks to watch for earnings after the bell on Tuesday include Cal-Maine, Interactive Brokers, JB Hunt Transport and Netflix.

Ticker Security Last Change Change %
CALM CAL-MAINE FOODS INC. 53.03 -0.14 -0.26%
IBKR INTERACTIVE BROKERS GROUP INC. 54.81 +1.42 +2.66%
JBHT J.B. HUNT TRANSPORT SERVICES INC. 167.58 +2.03 +1.23%
NFLX NETFLIX INC. 189.11 +14.33 +8.20%

On the economic data front, investors will take in building permits and housing starts. 

Tuesday also marks the start of Goldman Sachs’ two-day Small Business Summit, which will bring together more than 2,500 small business owners from across the country. 

Tuesday’s speakers will include former New York City mayor and Bloomberg L.P. co-founder and CEO Michael Bloomberg, Berkshire Hathaway chairman and CEO Warren Buffett, Goop CEO and founder Gwyneth Paltrow and Senators Ben Cardin, Krysten Sinema, Tim Scott and Marco Rubio. 

CITI FORECASTS HISTORIC 100-BASIS POINT FED RATE HIKE AFTER INFLATION SHOCKER

Wednesday 7/20

Earnings on the docket for Wednesday include Abbott Labs, Biogen, M&T Bank and Nasdaq Inc. before the market open. 

Ticker Security Last Change Change %
ABT ABBOTT LABORATORIES 108.82 +3.11 +2.94%
BIIB BIOGEN INC. 217.01 +2.74 +1.28%
MTB M&T BANK CORP. 156.21 +5.64 +3.75%
NDAQ NASDAQ INC. 157.07 +3.55 +2.31%

Meanwhile, Alcoa, CSX, Equifax and Tesla will deliver quarterly earnings results after the bell. 

Ticker Security Last Change Change %
AA ALCOA CORP. 43.06 +2.25 +5.51%
CSX CSX CORP. 28.86 +0.68 +2.41%
EFX EQUIFAX INC. 192.42 +3.00 +1.58%
TSLA TESLA INC. 720.20 +5.26 +0.74%

Wednesday’s economic data will include existing home sales, weekly mortgage applications and the Energy Information Administration’s weekly crude stocks. 

Ticker Security Last Change Change %
SWBI SMITH & WESSON BRANDS 13.15 +0.15 +1.15%
RGR STURM RUGER & CO. INC. 62.85 +0.37 +0.59%

On Capitol Hill, the chief executives of Daniel Defense, Smith and Wesson and Strum Ruger have been invited to testify before the House Oversight Committee at a hearing on the topic of gun violence. The House Workforce Protections Subcommittee will also hold a hearing on assessing the H2 visa program’s impact on workers.

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Thursday 7/21

Thursday will mark the busiest day for earnings with American Airlines, AT&T, AutoNation, Blackstone, DR Horton, Danaher, Domino’s Pizza and United Airlines among the companies reporting before the market open.

Ticker Security Last Change Change %
AAL AMERICAN AIRLINES GROUP INC. 14.47 +0.22 +1.54%
T AT&T INC. 20.57 +0.24 +1.18%
AN AUTONATION INC. 114.46 +2.83 +2.54%
BX BLACKSTONE 93.00 +3.37 +3.76%
DHI D.R. HORTON INC. 73.46 +0.82 +1.13%
DHR DANAHER CORP. 255.78 +7.72 +3.11%
DPZ DOMINO’S PIZZA INC. 406.60 +7.45 +1.87%
UAL UNITED AIRLINES HOLDINGS INC. 38.78 +0.93 +2.46%

Companies on deck for earnings after the bell will include Boston Beer, Capital One Financial, Mattel, Snap and Tenet Healthcare.

Ticker Security Last Change Change %
SAM BOSTON BEER CO. INC. 321.93 +1.75 +0.55%
COF CAPITAL ONE FINANCIAL CORP. 108.79 +5.36 +5.18%
MAT MATTEL INC. 21.63 -0.07 -0.32%
SNAP SNAP INC. 13.65 +0.48 +3.64%
THC TENET HEALTHCARE CORP. 55.55 +2.12 +3.97%

Investors will also digest the Conference Board’s index of leading economic indicators, the Philadelphia Federal Reserve’s manufacturing index and the latest in continuing and initial jobless claims. Europe’s central bank will also release its decision on interest rates. 

Friday 7/22

Wrapping up the week for earnings will be American Express, Cleveland-Cliffs, HCA Healthcare, NextEra Energy, Regions Financial, Roper Technologies, Schlumberger and Verizon before the market open.

Ticker Security Last Change Change %
AXP AMERICAN EXPRESS CO. 142.48 +6.00 +4.40%
CLF CLEVELAND-CLIFFS INC. 14.99 +0.47 +3.24%
HCA HCA HEALTHCARE INC. 171.61 +4.12 +2.46%
NEE NEXTERA ENERGY INC. 78.71 -1.42 -1.77%
RF REGIONS FINANCIAL CORP. 19.19 +0.95 +5.21%
ROP ROPER TECHNOLOGIES INC. 395.15 +7.01 +1.81%
SLB SCHLUMBERGER NV 32.30 +0.97 +3.10%
VZ VERIZON COMMUNICATIONS INC. 51.02 +0.53 +1.05%

GameStop shares will also trade for the first time following the video game retailer’s 4-for-1 stock split.

Ticker Security Last Change Change %
GME GAMESTOP CORP. 141.64 +5.44 +3.99%

Stockholders of record at the close of business on July 18, 2022, will receive a dividend of three additional shares of GameStop’s class A common stock for each share they own. The stock dividend will be distributed after the close of trading on July 21, 2022. 

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GameStop CFO is leaving the company, retailer announces layoffs

A screen displays the logo and trading information for GameStop on the floor of the New York Stock Exchange (NYSE) March 29, 2022.

Brendan McDermid | Reuters

GameStop said Thursday its Chief Financial Officer, Mike Recupero, is leaving the company and that it will make staff cuts across departments as part of an effort to turn around the videogame retailer and drive growth.

CEO Matt Furlong announced the changes in a memo to employees, which was obtained by CNBC. Diana Jajeh, the company’s chief accounting officer, will become CFO.

In the memo, Furlong said the company has to take bold steps as it invests in its digital future.

“This means eliminating excess costs and operating with an intense owner’s mentality,” he said. “Everyone in the organization must become even more hands-on and embrace a heightened level of accountability for results.”

Shares of the company fell more than 6% in extended trading after gaining more than 15% during the regular session.

Here’s the full memo:

All,

Change will be a constant as we evolve our commerce business and launch new products through our blockchain group. After investing heavily in personnel, technology, inventory and supply chain infrastructure over the past 18 months, our focus is on achieving sustained profitability. This means eliminating excess costs and operating with an intense owner’s mentality. Everyone in the organization must become even more hands-on and embrace a heightened level of accountability for results.

With that said, I’m getting in touch today to share three organizational updates:

1.  After making more than 600 corporate hires in 2021 and the first half of 2022, we have a stronger understanding of our transformation needs. This has positioned us to right-size headcount across several corporate departments. Today, we’re making a number of reductions to help us keep things simple and operate nimbly with the right talent in place.

2. We’re going to be making a significant investment in our Store Leaders and field employees, who play a critical role fulfilling the needs of our customers. These individuals are, in many respects, the heart of GameStop. We’ll be sharing details regarding this investment in the coming weeks.

3. Mike Recupero, who has served as our Chief Financial Officer since last June, is departing. Diana Jajeh, who has been our Chief Accounting Officer and possesses strong institutional knowledge of the business, has been appointed Chief Financial Officer.

These changes will enable us to operate in a profitable manner as we execute against our strategy of pursuing sales growth in our commerce business and launching new products that empower customers within the digital asset and web3 gaming verticals. I’m confident in the team we have in place going forward, and thank you again for your continued dedication and focus.

Regards,
Matt

This is breaking news. Please check back for updates.

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Meme stock GameStop jumps on share split bandwagon

Signage is seen at a GameStop in Manhattan, New York, U.S., December 7, 2021. REUTERS/Andrew Kelly

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July 6 (Reuters) – GameStop Corp’s (GME.N) board has approved a four-for-one stock split that will make it more affordable for investors to own shares of the video-game retailer at the center of last year’s “meme stock” trading frenzy.

Shares of the company shot up 5.8% to $124.49 in extended trading on Wednesday after the announcement.

Several major U.S. companies have opted for stock splits over the past two years, including Apple (AAPL.O), Tesla (TSLA.O) and Amazon.com (AMZN.O).

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A stock split makes shares more affordable for individual investors by lowering the price without affecting the company’s valuation.

Shares of GameStop skyrocketed more than 680% in 2021 thanks to retail traders on social media platforms such as Reddit who snapped up heavily shorted stocks in a bid to squeeze out hedge funds betting against them.

“GameStop management knows that they have a 100% retail shareholder base and so, they are catering to them,” said Wedbush Securities analyst Michael Pachter.

“It (the stock split) is also a distraction because the NFT market is dead, and that was the last thing that they did that tried to get people excited.”

This year, the video-game retailer’s shares have wound down roughly 20% as the Ukraine crisis and fears of a global recession clouded sentiment.

The company said in March it would seek shareholder approval for the split which would increase its outstanding Class A common shares to 1 billion from 300 million.

Under the split, shareholders will receive a stock dividend of three additional shares of GameStop’s Class A common stock for each share held. read more

The dividend will be distributed after markets close on July 21.

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Reporting by Chavi Mehta in Bengaluru; Editing by Devika Syamnath

Our Standards: The Thomson Reuters Trust Principles.

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Employees Scrambled to Keep Robinhood Afloat in January 2021 Meme-Stock Frenzy, House Report Finds

Robinhood Markets struggled to handle huge volumes of stock trading and sparred with its principal customer, market maker Citadel Securities, during the week in January 2021 when meme stocks exploded, according to a report from the Democratic staff of the House Financial Services Committee.

The committee held hearings in February 2021, questioning the chief executives of Robinhood and Citadel Securities, as well as meme-stock hero Keith Gill and Gabe Plotkin, the hedge-fund manager who lost billions betting against GameStop and other hot stocks. The staff reviewed tens of thousands of pages of internal documents, including pointed communications inside and between the companies.

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The Incredible Gamestop Pro Days Sale Starts Now: The Best Deals on Consoles, Video Games, Electronics, and More

The Gamestop Pro Days Sale has commenced and there are plenty of outstanding deals that are well worth your time to peruse. Score significant discounts on video games and consoles as well as plenty of electronics and peripherals that you might be surprised Gamestop even sells in the first place. You’ll need a Gamestop Pro membership to take advantage of most of these deals. Fortunately, the membership alone is totally worth it, especially since you essentially get back the $14.99 in costs to sign up anyways, plus change.

Gamestop PowerUp Pro Membership Required

The Gamestop PowerUp Pro membership is required. It’s only $14.99 for your first year and you do get a lot of benefits like a $10 rewards card you can use on your next purchase, an extra $5 monthly reward, 2% cash back in rewards, exclusive discounts, and more.

The Best Gamestop Pro Days Deals

No membership required

For those of you who don’t want to sign up for the Gamestop Pro membership, there are still some excellent non-exclusive deals you can score. The Seagate and WD hard drive deals, in particular, are far and away better than any deal you’ll find at other vendors at the moment.

WD Black P10 Game Drive 5TB USB 3.0 2.5″ Portable Hard Drive

WD Black P10 Game Drive 2TB USB 3.0 2.5″ Portable Hard Drive

WD Black 10TB 3.5″ Internal SATA Gaming Hard Drive

Netgear Nighthawk XR1000 AX5400 WiFi 6 Gaming Router

Seagate FireCuda 8TB Gaming Hub USB 3.0 External Hard Drive

Seagate FireCuda 2TB Gaming USB 3.0 Portable Hard Drive

Pokemon Brilliant Diamond (Switch)

PNY GeForce RTX 3080 10GB XLR8 Gaming REVEL EPIC-X RGB Video Card

The Best Gamestop Pro Days Deals

Membership required

Score some hot deals on the Xbox Series S and Nintendo Switch OLED consoles, Switch games, Pokemon TCG and Magic The Gathering card packs, and more.

Nintendo Switch OLED with White Joy-Con (Refurbished)

Xbox Series S with Halo Infinite and $25 Gamestop Gift Card

Mouse automatically added to cart

Yeti Blackout USB Microphone with Bonus Logitech G502 Hero Wired Gaming Mouse

Xbox Elite Wireless Controller Series 2 (Refurbished)

Super Mario Party (Switch)

WarioWare Get It Together (Switch)

Hasbro Marvel Legends Series The Infinity Saga Avengers: Endgame Iron Man Nano Gauntlet

Pokemon Trading Card Game: Sword and Shield-Astral Radiance Elite Trainer Box

Pokemon Trading Card Game: Sword and Shield Darkness Ablaze Elite Trainer Box

Pokemon: Trading Card Game Sword and Shield Vivid Voltage Elite Trainer Box

Pokemon Trading Card Game Shining Fates Elite Trainer Box

PS5 DualSense Contorller (Pre-Owned)

Magic: The Gathering Streets of New Capenna Draft Boosters Full Box

Magic: The Gathering Streets of New Capenna Bundle

Pandemic: Legacy Season 0 Board Game

Carcassonne Big Box Board Game

Log into Pro account to see price

Pokemon Snorlax Sleeping Bag

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GameStop quarterly revenue beats estimates on higher demand for video games

People walk by a GameStop in Manhattan, New York, U.S., December 7, 2021. REUTERS/Andrew Kelly

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June 1 (Reuters) – GameStop Corp (GME.N) reported first-quarter revenue that exceeded market expectations on Wednesday, as the video game retailer pivots toward a more online-focused model amid increasing competition from large retailers such as Walmart Inc (WMT.N) and Amazon.com Inc (AMZN.O).

Store closures during the COVID-19 pandemic affected GameStop’s physical retail business, for which it is primarily known. The company has been bolstering its online sales capabilities as shopping trends towards e-commerce accelerated during the pandemic.

The company’s shares soared 687% last year as it was at the center of a battle between retail investors coordinating on online forums and Wall Street hedge funds that had taken short positions in GameStop, in what is called a “short-squeeze”.

Net sales were $1.38 billion in the quarter ended April 30, above analysts’ average estimate of $1.32 billion, according to Refinitiv data.

Net loss widened to $157.9 million, or $2.08 per share, for the first quarter, from $66.8 million, or $1.01 per share, a year earlier.

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Reporting by Akash Sriram in Bengaluru; Editing by Krishna Chandra Eluri

Our Standards: The Thomson Reuters Trust Principles.

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Jobs report, GameStop earnings, home prices top week ahead

Though the New York Stock Exchange will be closed Monday in observance of the Memorial Day holiday, investors will still have another jam-packed week of corporate earnings and key economic data related to housing, manufacturing and jobs.   

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 33212.96 +575.77 +1.76%
SP500 S&P 500 4158.24 +100.40 +2.47%
I:COMP NASDAQ COMPOSITE INDEX 12131.131075 +390.48 +3.33%

FOX Business takes a look at upcoming events likely to move financial markets in the coming days. 

Tuesday 5/31

Kicking off the week for earnings will be HP, Salesforce and Victoria’s Secret after the bell. 

Ticker Security Last Change Change %
HPQ HP INC. 38.78 +2.02 +5.48%
CRM SALESFORCE INC. 165.10 +2.64 +1.63%
VSCO VICTORIA’S SECRET & CO. 42.67 -1.88 -4.22%

Investors will also take in the Case-Shiller home price index, the Federal Housing Finance Agency’s monthly home price index and consumer confidence.

Ticker Security Last Change Change %
ABNB AIRBNB INC. 120.50 +6.20 +5.42%

Also on Tuesday, Airbnb will end COVID-related refunds.

BANK OF AMERICA CEO: US CONSUMER IN ‘VERY GOOD SHAPE’, MAKES FED’S JOB ‘TOUGHER’

Wednesday 6/1

The earnings parade will continue Tuesday with Capri Holdings, Hovnanian and Vera Bradley reporting before the market open and Chewy, GameStop, Hewlett-Packard Enterprise, NetApp and PVH Corp delivering results after the bell.  

Ticker Security Last Change Change %
CPRI CAPRI HOLDINGS LTD. 47.58 +1.68 +3.66%
HOV HOVNANIAN ENTERPRISES 50.47 +3.18 +6.72%
VRA VERA BRADLEY INC. 6.56 +0.01 +0.15%
CHWY CHEWY INC. 27.11 +1.57 +6.15%
GME GAMESTOP CORP. 136.89 +8.31 +6.46%
HPE HEWLETT PACKARD ENTERPRISE CO. 15.79 +0.65 +4.26%
NTAP NETAPP INC. 73.05 +2.56 +3.63%
PVH PVH CORP. 70.70 +0.74 +1.06%

On the economic data front, investors will digest the Federal Reserve’s Beige Book, construction spending, vehicle sales, the ISM manufacturing PMI and weekly mortgage applications. The Federal Reserve is also expected to start reducing its balance sheet.

In addition, New York Fed President John Williams will deliver opening remarks before the bank and the Columbia University School of International and Public Affairs’ Monetary Policy Implementation and Digital Innovation workshop. 

St. Louis Fed President James Bullard will also give a presentation on the U.S. economy and monetary policy before a hybrid Economic Club of Memphis event.

Ticker Security Last Change Change %
RBAC REDBALL ACQUISITION CORP. 10.07 +0.87 +9.46%
ORCL ORACLE CORP. 72.78 +1.12 +1.56%
CERN CERNER CORP. 94.68 +0.13 +0.14%

Other notable events include a shareholder vote on SeatGeek’s $1.35 billion merger with special purpose acquisition company RedBall, the end of the Russian central bank’s ban on short selling, a decision from the European Commission on Oracle’s $23.8 billion acquisition of Cerner and the Bank of Canada’s decision on interest rates. 

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Thursday 6/2

Wrapping up the week for earnings will be Designer Brands, Duluth Holdings, Hormel Foods, Lands’ End and Toro before the market open and Broadcom, Cooper Companies, CrowdStrike Holdings, lululemon athletica and Okta after the bell. 

Ticker Security Last Change Change %
DBI DESIGNER BRANDS INC. 15.84 +0.20 +1.28%
DLTH DULUTH HOLDINGS INC 12.51 +0.66 +5.57%
HRL HORMEL FOODS CORP. 48.65 +0.23 +0.48%
LE LANDS END 11.87 +0.27 +2.33%
TTC THE TORO CO. 82.66 +1.75 +2.16%
AVGO BROADCOM INC. 583.28 +32.62 +5.92%
COO THE COOPER COS. INC. 351.90 +8.04 +2.34%
CRWD CROWDSTRIKE HOLDINGS INC. 166.82 +10.98 +7.05%
LULU LULULEMON ATHLETICA INC. 293.65 +6.17 +2.15%
OKTA OKTA INC. 86.06 +4.85 +5.97%

In other market news, Didi Global is expected to formally submit its delisting notice with the Securities and Exchange Commission. Thursday also marks the agency’s deadline to decide whether to approve or disapprove a rule change allowing shares of One River Carbon Neutral Bitcoin Trust to be listed on the New York Stock Exchange Arca.

Ticker Security Last Change Change %
DIDI DIDI GLOBAL INC 2.01 +0.16 +8.65%

As for economic data, investors will be watching the ADP employment report, factory orders, labor costs, productivity, the latest in initial and continuing jobless claims and the Energy Information Administration’s weekly crude stocks. 

Cleveland Fed President Loretta Mester will also speak on the economic outlook via video conference before the Philadelphia Council for Business Economics Meeting, and OPEC and non-OPEC members will hold their monthly ministerial meeting related to crude oil production. 

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Friday 6/3

Finishing out the week will be the May jobs report and the ISM non-manufacturing PMI. 

Friday also marks the deadline for the Biden administration to provide an in-person briefing on its efforts to improve the quality and timeliness of federal critical mineral permitting processes. 

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GameStop PS5 restock sold out — where to find inventory next

Update: GameStop is now sold out of consoles. Make sure to follow our PS5 restock guide for news of the next drop. 

Last month GameStop started experimenting with weekend PS5 restocks. And it would appear the retailer was pleased with the results, as it will be holding another one today (May 28) right in the midst of its Memorial Day sales. 

Details of this GameStop PS5 stock drop come via Matt Swider (opens in new tab) of The Shortcut (opens in new tab). Matt is one of the most well-respected stock trackers around with highly dependable sources at practically every major retailer. He’s been able to confirm via his GameStop contacts that the retailer will be holding an in-store PS5 restock this weekend. 

This in-store restock event will begin from the opening time of each individual store (which could be as early as 8 a.m. local time). Matt has been able to confirm that only the PS5 Disc console will be available during this drop and on average each location will have around eight consoles available for sale — although, some larger stores are expected to have more. 

Additionally, this PS5 restock will require you to be a PowerUp Reward Pro member. GameStop has gated all of its next-gen console restocks behind its premium membership program since early 2021, and we expect the retailer to continue this practice for the foreseeable future. You can get signed up below ahead of its next PS5 restock this weekend.

GameStop is also notorious for selling its allocation of PS5 consoles in pre-built bundles and this restock will continue that trend. There will be three bundles available during this in-store event. The cheapest will cost $718 while the other two will cost $812. All three come with a PS5 Disc console, an additional DualSense controller, and a copy of Gran Turismo 7, as well as additional items that differ depending on the bundle. 

The $718 package includes a physical copy of Ratchet & Clank Rift Apart and a $25 PlayStation Network gift card. Whereas the $812 bundles both come with an official Sony Pulse 3D Wireless Headset and then either a copy of MLB The Show 22 or Ghost of Tsushima: Director’s Cut. While none of these bundles are the cheapest way to score a PS5, at least GameStop always charges the combined retail price of the items, so you’re not getting price gouged. 

If you’d rather purchase your console online or don’t want to stretch your budget to cover a pricey GameStop bundle, be sure to check our PS5 restock hub. This comprehensive guide is updated daily with the latest updates across all major retailers.

PS5 restock tracker — stores to check



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