James poses with his new e-bike outside a GameStop store (GameStop)

One mother’s LinkedIn post inspired GameStop CEO Ryan Cohen to give a surprise gift to a new employee

The GameStop CEO gave James, a teenage employee an Irving, Texas, an e-bike so he could get to work easier.

Take a look at GameStop’s expense control in the Ryan Cohen era and you’d be forgiven for thinking he’s a leader singularly focused on putting the video games and collectibles retailer back on a path to sustained operational success. And on that front, he’s made massive progress: as of Q2, GameStop has strung together five consecutive quarters of positive operating cash flows for the first time in its history.

But it turns out the CEO has a bit of a soft spot for employees who go the extra mile. Or in this case, the extra two miles.

Mara Nichols gushed on LinkedIn about her teenage son James, a GameStop employee in Irving, Texas, who “walked 2 miles in pouring rain to work a 2 hour shift” in his first week on the job. A single mom, Mara said that James’ commitment to his new job made her proud of the lessons she’d instilled in her children.

“I never made any statements about doing such a thing. He was there when I walked in the rain to and from work. He was there when I showed up when others quit,” she wrote. “He is now at work showing me that my example made the lasting impact over my words.”

She probably could never have guessed who else would be inspired by her son’s example: Ryan Cohen.

“I saw the post and liked what his mother had to say so I contacted them,” said Cohen, who called James to thank him for his work ethic and told him he was giving him an e-bike to get to work easier.

“I was so surprised, and I thought it was a joke. I just couldn’t believe it!” James said in a message sent to Sherwood News. “This made me feel even better about working for GameStop. The atmosphere is so nostalgic for the memories I have had here growing up.”

James, who recently purchased a PS5, enjoys playing co-op games like “Gears of War” and “Borderlands” with his brother in his spare time.

Earlier this year, GameStop auctioned off items including a Nintendo Switch 2 that had been damaged when an employee punctured the screen by stapling the receipt to the box during early days of the console’s release — with the offer to add Cohen’s underwear to the collection, as well — for $250,000 to raise money for Children’s Miracle Network Hospitals.

Luke Kawa

57m

Plug Power jumps on elevated call demand

Plug Power is up today amid a wave of bullish options action.

As of 11:40 a.m. ET, 28,819 calls have traded, nearly double the 20-day average of 14,527.

The two contracts seeing the most activity are calls with a strike price of $2 that expire on October 17 and on this Friday.

The put/call ratio is below 0.13 as of 11:40 a.m., versus a 20-day average of 0.32.

Nia Warfield

Warner Bros. Discovery dips after TD Cowen downgrade cools deal frenzy

Warner Bros. Discovery shares were down over 8% after TD Cowen downgraded the stock from “buy” to “hold,” even as it kept its $14 price target.

The dip comes on the heels of a sharp rally sparked by reports that Paramount Skydance may bid for the media giant. TD says that while a successful bid could send WBD north of $20, the current risk-reward feels lopsided. If nothing materializes, shares could slip back toward $11 to $12.

Analysts noted that much of the upside from deal chatter is already priced in. TD also flagged limited potential buyers if Paramount Skydance fell though and the lack of concrete details around a bid. In short: the rumor mill has been driving the stock, but fundamentals haven’t clearly caught up.

Reaction has been mixed: last week, Wells Fargo reiterated an equal-weight rating on the stock and hiked its price target to $14 from $13.

Even with today’s dip, WBD shares are still up 67% year to date.

J. Edward Moreno

Hims falls after FDA posts warning letter

The agency’s letter took issue with the claims made in Hims’ marketing materials.

Ralph Lauren falls as Wall Street digests the luxury brand’s modest growth plans

The high-end retailer delivered a solid revenue outlook, but warned that tariffs and inflation could squeeze margins.

Nia Warfield2h

Matt Phillips

Rocket Lab slammed after announcing share sale plans

When the market is throwing cheap cash at you, take it.

That’s essentially what Rocket Lab said it’s going to do by announcing an at-the-market share offering of up to $750 million in securities, hammering its stock price in early trading.

In an at-the-market offering, companies can sell shares directly into the market, effectively diluting existing shareholders, which explains the price move.

While the drop is likely painful for some shareholders who got into the stock only recently, selling shares is a pretty logical way for a company to, literally, capitalize on the market enthusiasm that has sent the stock up more than 600% over the last 12 months.

Rocket Lab said it intends to use the proceeds from the share sale for general corporate and working capital purposes. It also said it may use some of the money to pay the cash portion of the $75 million purchase price for German laser communications company Mynaric, a deal announced back in March, if that acquisition is finalized. (Mynaric was operating under the German version of bankruptcy protection at the time, making the acquisition somewhat complicated.)

“Pending these uses, we may invest the net proceeds from this offering in short-term, interest-bearing instruments. Accordingly, we will retain broad discretion over the use of these proceeds,” the company said.

SEC Filing | Rocket Lab Corporation