Fly Intel: Top five weekend stock stories

Catch up on the weekend’s top five stories with this list compiled by The Fly: 1. Donerail Group is close to reaching a settlement with Turtle Beach (HEAR) that will give the activist investment firm representatives on the U.S. gaming gear company’s board of directors, Reuters’ Svea Herbst-Bayliss reported, citing people familiar with the matter. Donerail, which has beneficial ownership of 7.4% of Turtle Beach’s outstanding shares, has criticized the maker of gaming headsets and controllers for operational missteps and has been pushing the company to sell itself. Turtle Beach maintains it has been doing its best to find a buyer at an attractive price, the author noted. Turtle Beach has agreed to add three Donerail nominees to its board, expanding it from six to nine directors, the sources said. One director is expected to retire at the annual meeting next month. 2. In a tweet, Elon Musk said that, “Twitter legal just called to complain that I violated their NDA by revealing the bot check sample size is 100! This actually happened.” The executive had tweeted on Friday that his $44B cash deal to take Twitter (TWTR) private was “temporary on hold” while he awaited data on the proportion of its fake accounts. 3. It has been just over three months since activist investment firm Blackwells Capital targeted Peloton Interactive (PTON), and the case for change, including a sale of the company, may have only grown stronger, Carleton English wrote in this week’s edition of Barron’s. Peloton’s stock plunged 8% this past week after fiscal third quarter earnings and forward guidance came in below Wall Street expectations. The weak results-coupled with Peloton’s plans to borrow $750 million in a balance-sheet-saving move-came three weeks after Blackwells reiterated its calls for Peloton to sell itself, the author noted. Now, any potential buyer would be able to scoop up the company at an even deeper discount: Its shares have lost about half their value since Blackwells’ stake was made public on Jan. 23, the publication added. 4. Marvel Studios and Disney’s (DIS) “Doctor Strange in the Multiverse of Madness” won this weekend’s domestic box office with another $61M from 4,534 locations for a 10-day domestic total of $291.9M. The movie starring Benedict Cumberbatch ended its second weekend with almost $700M in global ticket sales. 5. Shell (SHEL), Citizens Financial (CFG), and Western Digital (WDC) saw positive mentions in this week’s edition of Barron’s.

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