Oscar Health slips after announcing a $355 million convertible note offering

Oscar Health fell as much as 5.1% in premarket trading on Tuesday after the company announced it will terminate its revolving credit line with Wells Fargo thanks to a $355 million proposed private convertible note offering.

The company announced it will offer $355 million in 2.25% convertible senior subordinated notes maturing in 2030. Oscar said the raise will fund “general corporate purposes, including future expansion opportunities fueled by strategic AI and member experience initiatives as well as the potential extension of enhanced premium tax credits.”

Oscar, like many health insurance companies that offer government-sponsored plans, has had a tumultuous year amid rising costs. The company recently reiterated its full-year guidance after making a huge cut in July.

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Luke Kawa

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.

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

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 Warfield14m

Matt Phillips

30m

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

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

Nate Becker

50m

Trump is suing the NYT for $15 billion, which is way more than the entire company is worth

President Donald Trump says he’s suing The New York Times, alleging defamation and seeking a whopping $15 billion in damages. In case you’re curious, that sum outstrips the entire market cap of the NYT, which was $9.65 billion as of yesterday’s close. It’s multitudes higher than the $540 million of cash on the company’s balance sheet. And it’s roughly equivalent to the Times’ last 28 quarters of revenue combined.

If you’re wondering whether investors think the lawsuit will eventually wind up gutting the Times, it’s worth noting that NYT stock is down 1.8% in early trading, which shaves about $173 million off its market cap.

Thank goodness, because it would be really tough to lose one of the premier game companies in the US that also has a pretty kickass journalism side hustle.

Trump to bring $15 billion defamation and libel lawsuit against The New York Times | CNN Business

Thank goodness, because it would be really tough to lose one of the premier game companies in the US that also has a pretty kickass journalism side hustle.

Max Knoblauch

Dave & Buster’s tanks as same-store sales keep falling and profit plunges

Dave & Buster’s fell more than 18% in premarket trading on Tuesday, following the arcade and restaurant chain’s second-quarter earnings report after the bell on Monday.

The chain, which has struggled through a discretionary spending cutback by consumers and an industry-wide tariff hit on prizes, posted a 3% drop in same-store sales on the quarter. That’s D&B’s 10th straight quarter of declining same-store sales.

Dave & Buster’s posted adjusted earnings of $0.40 per share, well below analyst estimates of $0.92 per share. The company’s adjusted profit, $14.1 million, was down 69% from last year.

CEO Tarun Lal blamed too many promotions, a decline in TV ad spend, and an almost 80% pullback in new games for the poor performance. In the food division, Lal said the company “leaned too heavily on appetizers and shareables.”

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