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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Microsoft Corporation    MSFT

MICROSOFT CORPORATION

(MSFT)
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Microsoft : GameStop plans to elect activist investor Cohen as chairman

04/08/2021 | 08:28am EDT
FILE PHOTO: A person walks past a GameStop in New York

(Reuters) - GameStop Corp, which has been part of a recent Reddit-driven trading frenzy, said on Thursday it intends to elect activist investor Ryan Cohen as chairman, putting him in the driver's seat as he looks to transform the videogame retailer.

Since Chewy co-founder Cohen joined GameStop's board in January, he has been pushing towards transformation of the brick-and-mortar retailer into an e-commerce firm that can take on big-box retailers such as Target Corp and technology firms such as Microsoft Corp.

The company also said on Thursday it was nominating six people, including Cohen, to stand for election to its board at the annual meeting of stockholders on June 9.

Shares of GameStop were up over 3% in premarket trading, snapping a three-day losing streak.

The announcement comes after GameStop on Monday increased the value of the new stock it may sell to $1 billion from $100 million, as it seeks to capitalize on a surge in its shares from the Reddit-driven rally.

The GameStop stock has rampaged over 900% higher since January in highly volatile trading as amateur investors organized on social media sites such as Reddit staged a stubborn buying spree, winning out over Wall Street hedge funds that had shorted its shares.

The board nominations also include Larry Cheng, co-founder and managing partner of investment firm Volition Capital and Yang Xu, who is the senior vice president of global finance and treasury at the Kraft Heinz Co.

Separately, GameStop said in a regulatory filing that Kurtis Wolf resigned from the company's board.

His resignation was not a result of any disagreement with the company on any matters related to its operations, GameStop said.

(Reporting by Akanksha Rana in Bengaluru; Editing by Maju Samuel)


© Reuters 2021
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Financials (USD)
Sales 2021 164 B - -
Net income 2021 55 912 M - -
Net cash 2021 78 333 M - -
P/E ratio 2021 34,8x
Yield 2021 0,86%
Capitalization 1 930 B 1 930 B -
EV / Sales 2021 11,3x
EV / Sales 2022 10,1x
Nbr of Employees 163 000
Free-Float 99,9%
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Technical analysis trends MICROSOFT CORPORATION
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 41
Average target price 275,97 $
Last Close Price 255,85 $
Spread / Highest target 23,1%
Spread / Average Target 7,86%
Spread / Lowest Target -14,0%
EPS Revisions
Managers and Directors
NameTitle
Satya Nadella Chief Executive Officer & Non-Independent Director
Bradford L. Smith President & Chief Legal Officer
Amy E. Hood Chief Financial Officer & Executive Vice President
John Wendell Thompson Independent Chairman
James Kevin Scott Chief Technology Officer & Executive VP
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