Diamonds and Dogs

6/14/22

FedEx (FDX) rises on activist involvement. The delivery firm is jumping 13% after hiking their dividend 53% and adding three directors to its board in an agreement with activist investor DE Shaw. FedEx would focus on shareholder returns and would tie executive compensation to those returns.

Cryptocurrency market taking a hit as the value of all digital coins fell below $1 trillion for the first time since Feb. 2021. Bitcoin is down over 2% today and down 50% year to date. Coinbase (COIN) is down 3% today on a downgrade at JPMorgan due to concerns of falling revenue from less trading. Coinbase stock is down 85% since the November highs of last year.

 

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