What we’re reading (7/21)
“Options Trader Bets On A Huge Rebound For Nordstrom” (CNBC). “Nordstrom may have lost more than 3% in Monday’s washout — but that price action emboldened, rather than deterred — at least one options trader to make a very bullish bet on the retailer’s stock. As of Monday’s close, Nordstrom had lost 13% in the last week of trading. This trader looks to be betting that the bottom is in, and that the stock could jump as much as 34% by August expiration.”
“Why The Markets Worry About The Delta Variant” (DealBook). “Last week, analysts at Goldman Sachs told clients that the potential economic impact of the Delta variant of the coronavirus would be “modest.” Even if that turns out to be the case, investors look nervous as infections spread because of the highly contagious strain. Yesterday [Monday], the S&P 500 recorded its steepest one-day drop since May and European stocks had their worst day of the year.”
“Now Hiring: White Castle—Four Years After You Applied” (Wall Street Journal). “When Abigail Ezzell applied for a server position at Cracker Barrel, she was in high school. She was in college when she finally heard back. The email landed last month, three years after she submitted it. ‘It was like, hey, Abigail, so glad to see you applied! They gave me a date and time to come in for an interview,’ says Ms. Ezzell, 20. When Ms. Ezzell applied, she had been looking for an after-school job in Mount Airy, N.C. She’s now living in San Francisco, where she’s an undergraduate studying political science. ‘I definitely did not email them back,’ she says. Cracker Barrel declined to comment.”
“Comcast, ViacomCBS Rumors Said To Include Talk Of Something Bigger” (Forbes). “Executives for ViacomCBS and Comcast Corp. have been holding discussions that some interpret as laying the groundwork for something bigger. Speculation about a potential deal has been brewing since before this month’s Allen & Co. retreat for tech and media moguls in Sun Valley, Idaho, where ViacomCBS Chairwoman Shari Redstone and Comcast CEO Brian Roberts were among the notable attendees. Both companies have been under pressure to achieve greater scale, as competitors have struck major deals to propel their streaming services.”
“Haiti vs. the Dominican Republic: Why The Big Divergence?” (Noahpinion). “The countries of Haiti and the Dominican Republic together form the island of Hispaniola in the Caribbean. Haiti comprises roughly the western third of the island, while the D.R. makes up the eastern two-thirds. The economic divergence between these two countries is one of the most remarkable in the world, perhaps surpassed only by North and South Korea. As recently as 1960, the two countries had similar standards of living. Today, the D.R., by some measures, is eight times as rich as Haiti, while Haiti’s standard of living hasn’t advanced at all since 1950.”
