Good morning, you're tuned in to Markets Desk.
GameStop's Ryan Cohen made a bold swing at eBay with a fifty-six billion dollar takeover bid, and eBay swatted it away without hesitation, calling the offer neither credible nor attractive. Analysts are asking the same question — how exactly does a video game retailer finance a deal of that magnitude, and what's the strategic logic? The market is skeptical, and eBay appears unbothered.
Shifting to the telehealth space, Hims and Hers dropped sixteen percent after posting a first-quarter loss and issuing guidance that fell short of expectations. The company had struck a deal with Novo Nordisk in March to distribute Wegovy through its platform, but that partnership hasn't been enough to reassure investors worried about the path to profitability in a crowded GLP-one market.
On the macro front, President Trump is heading to Beijing for a meeting with President Xi, and he's bringing Elon Musk and Tim Cook along for the ride. After more than a year of escalating tariff tensions following Liberation Day, the White House appears to be shifting toward engagement, using the weight of American commerce as a diplomatic calling card heading into what could be a consequential summit.
That's the tape. Markets Desk, signing off the floor.
