MSFT Moons, DXCM Pops, and BA Gets Stood Up at the China Dance
While markets posted their worst day since March, a billionaire activist and a hedge fund legend quietly made their moves
Ticker Ratings
Let's cut through the macro doom spiral for a second. Yes, the 30-year Treasury topped 5.1%, the S&P 500 dropped 1.2%, and your portfolio probably looked like a Nicolas Cage movie this week. But while everyone was catastrophizing, two very sharp people were quietly buying.
$MSFT surged ~3.9% — its biggest intraday gain in a month — after Bill Ackman's Pershing Square disclosed a new stake, citing Azure demand and Microsoft 365's stranglehold on enterprise software. Hard to argue with that thesis. Meanwhile, $DXCM ripped ~7.8% after Elliott Management took an activist stake and secured two board seats — Elliott doing Elliott things, basically printing alpha by showing up with a clipboard and a stern look.
Then there's $BA, which somehow managed to turn a diplomatic summit into a worse news day — China's jet order came in smaller than expected, with zero firm commitments, and Melius Research is already saying China isn't even that critical a market anymore. Getting ghosted by an entire nation hits different.