Unusual Whales

Sports Illustrated’s publisher lays off entire staff

The information, initially disclosed by Front Office Sports, emerged within a day of The Arena Group, the publisher, revealing a substantial reduction in its workforce, affecting 100 employees. Arena attributed the layoffs to extensive debt management and recent missed payments, describing the move as part of cost-cutting measures to implement

Biden administration to forgive $4.9 billion in student debt for 73,600 borrowers

Biden administration to forgive $4.9 billion in student debt for 73,600 borrowers, per CNBC. The alleviation comes as a result of corrective measures undertaken by the U.S. Department of Education to address issues within its income-driven repayment plans and the Public Service Loan Forgiveness program. U.S.

A grand jury has indicted actor Alec Baldwin on manslaughter in the fatal 2021 shooting on his movie set "Rust"

Although not financially related, a grand jury has indicted actor Alec Baldwin on manslaughter in the fatal 2021 shooting on his movie set "Rust". Prosecutors presented the case before a Santa Fe grand jury this week, led by special prosecutors who initiated proceedings after receiving a new analysis

Walmart, $WMT, is raising averge store manager wages from $117,000 to $128,000, with store manager bonusus could now be up to 200% base pay

Walmart, $WMT, is raising averge store manager wages from $117,000 to $128,000, with store manager bonusus could now be up to 200% base pay, per Reuters. In addition to implementing a 9% salary increase, Walmart has announced a "redesign" of its bonus program for managers. The

Macy’s, $M, to cut about 2,350 jobs, 13%, and close five stores

Macy's is set to eliminate around 2,350 positions, encompassing roles in its corporate office and stores, as part of a strategic shift to adapt to evolving consumer and market demands. The decision aims to streamline the company, with affected employees being notified on Thursday and the last

The US national office vacancy rate is at an all time at 19.6%

The US national office vacancy rate is at an all time at 19.6%, per Moody's. US office vacancies nationwide hit a record high in the fourth quarter of last year, per Axios. San Francisco metro area had the most office square feet vacated in the US in

Fewer than half of all boomers have saved enough for retirement; their kids are going to pay the price

Fewer than half of all boomers have saved enough for retirement; their kids are going to pay the price, per BI. 56 million Americans over 65 make up just 17% of the US population, but they hold more than half of America's wealth, at $96.4 trillion, per

Home prices are rising faster and faster each month, fueled by a decline in mortgage rates

Home prices are rising faster and faster each month, fueled by a decline in mortgage rates, per CNBC. At the national level, home prices experienced a notable 5.2% surge in November compared to the same month the previous year, as reported by analytics firm CoreLogic. This reflects an increase

Americans are sour on Biden's handling of the economy; the media may be to blame

Americans are sour on Biden's handling of the economy. The media may be to blame, per NPR. Public sentiment toward Biden's economic management has soured, and some attribute this shift to media coverage. Despite employment staying below 4% for an exceptional two-year period and wage increases

56 million Americans over 65 make up just 17% of the US population, but they hold more than half of America's wealth, at $96.4 trillion

56 million Americans over 65 make up just 17% of the US population, but they hold more than half of America's wealth, at $96.4 trillion, per the Fed. However, there's a flaw in the narrative of a rosy boomer retirement: Many older Americans are not

56 million Americans have been in credit card debt for at least a year

56 million Americans have been in credit card debt for at least a year, per CNBC. In fact, as of November, 49% of credit cardholders are maintaining a balance from one month to the next, as per a recent Bankrate survey. This marks an increase from 31% in 2021 and

Reddit has drawn up detailed plans to launch its IPO in March

Reddit has drawn up detailed plans to launch its IPO in March, per Reuters. It would mark the inaugural IPO of a major social media company since Pinterest's introduction in 2019, and Reddit and its counterparts are contending fiercely for advertising revenue against competitors such as TikTok and

David Portnoy invested in Save, it crashed 30%

David Portnoy of Barstool Sports announced his investment in Spirit (Save) airlines at 855 am PST this morning. One minute later, the WSJ announced SAVE was restructuring, causing his investment to drop 30% and dropping. He quoted and said "diamond hands" in response to the fall. You can

The IRS and the US Treasury have said businesses do not have to report payments of $10K or more in digital assets until both agencies have issued proposed regulations

The IRS and the US Treasury have said businesses do not have to report payments of $10K or more in digital assets until both agencies have issued proposed regulations, per FOX. This update follows a prior announcement from the agencies, which clarified that businesses are not currently required to report

Executives remain committed to DEI — diversity, equity and inclusion — despite a rising backlash against it

Executives remain committed to DEI — diversity, equity and inclusion — despite a rising backlash against it, per Axios. However, just as many executives (59%) observed an increased backlash toward DEI programming following the U.S. Supreme Court's rejection of race-based admissions policies last June, according to Littler. Moreover, nearly

93% of U.S. households' stock market wealth is held by the top 10%

93% of U.S. households' stock market wealth is held by the top 10%, per Axios. The wealthiest individuals in the United States currently possess an unprecedented share of the stock market, with the top 10% holding a record 93% of US equities, as per data from the Federal

US office vacancies nationwide hit a record high in the fourth quarter of last year

US office vacancies nationwide hit a record high in the fourth quarter of last year, per Axios. San Francisco metro area had the most office square feet vacated in the US in 2023, per Axios. In San Francisco, the current vacant office space surpasses the equivalent of more than 20

San Francisco metro area had the most office square feet vacated in the US in 2023

San Francisco metro area had the most office square feet vacated in the US in 2023, per Axios. In San Francisco, the current vacant office space surpasses the equivalent of more than 20 Salesforce Towers, as per preliminary data from real estate firm CBRE. In the fourth quarter, 35.9%

Many Americans are "consuming in denial"

Many Americans are "consuming in denial" — continuing to spend and run up credit card bills even though they're short on cash — and that "they're looking to deflect some of the blame" to leaders in government, per Axios. Meanwhile, this month, the overall

99% of Americans live near a Mexican restaurant

99% of Americans live near a Mexican restaurant, per Axios. The prevalence of Mexican cuisine in the United States has reached a point where an astounding 99 percent of Americans live in close proximity to a Mexican restaurant, according to an analysis by the Pew Research Center. Drawing on data

Jamie Dimon, CEO of $JPM, has said “I don't like how Trump said things, but he wasn't wrong about those critical issues"

Jamie Dimon, CEO of $JPM, has said “I don't like how Trump said things, but he wasn't wrong about those critical issues. That's why they're voting for him. People should be more respectful of our fellow citizens. I think this negative talk

Apple, $AAPL, must stop selling watches with blood oxygen feature after U.S. Appeals Court reinstates ban on Jan 18

Apple, $AAPL, must stop selling watches with blood oxygen feature after U.S. Appeals Court reinstates ban on Jan 18, per Bloomberg. Wednesday's court order didn't make a definitive ruling on Apple's attempt to overturn the U.S. International Trade Commission's ban

US Navy Seals boarded a boat heading for Yemen and seized Iranian-made missile components and other weaponry bound for Houthi forces

US Navy Seals boarded a boat heading for Yemen and seized Iranian-made missile components and other weaponry bound for Houthi forces, per the Guardian. Per CNN: https://www.cnn.com/2024/01/16/politics/us-raid-iran-houthis/index.html#:~:text=Washington%20CNN%20%E2%80%94-,The%20US%20Navy%20seized%20Iranian%2Dmade%

The stock market could soar as much as 30% next year as expectations grow for the Fed to slash rates and inflation to drop 'like a rock'

The stock market could soar as much as 30% next year as expectations grow for the Fed to slash rates and inflation to drop 'like a rock,' Fundstrat's Tom Lee has said per BI. According to Tom Lee of Fundstrat, there is a possibility that the

Mark Zuckerberg of $META has said he's raising cattle on beer and macadamia nuts to "create some of the highest quality beef in the world"

Mark Zuckerberg of $META has said he's raising cattle on beer and macadamia nuts to "create some of the highest quality beef in the world," per CNBC. Meta CEO Mark Zuckerberg revealed on Tuesday that he is engaged in cattle farming at his Hawaiian ranch, sharing