Can Match Reignite Tinder?

Every day, we handpick the 5 Top Stories stock market investors need to know. In 5 minutes, you’ll learn the stocks, CEOs, and money managers moving markets.

Ocado Pops on Drop in Losses

The Ocado [OCDO:L] share price climbed nearly 20% Tuesday morning in London, after the firm announced it had significantly narrowed pretax loss to £154m for the first half of the year, surpassing analyst expectations. Despite earlier setbacks due to key customer delays, the robotic warehouse provider reported improving cash flow. Founded by ex-Goldman Sachs bankers, Ocado aims to lead in automated warehousing for global supermarkets.

Can Match Set Fire to Tinder?

Shares in online-dating company Match [MTCH] climbed as much as 8.6% after hours on Monday, following news that activist investor Starboard Value has built a 6.6% position in the stock, the Wall Street Journal reported. Starboard said in a letter that it would encourage the Tinder parent to explore a sale if it is unable to turn its fortunes around. The company — which also offers dating apps Hinge and OkCupid — has seen revenue slow as a result of weaker user spending. 

Slack Hack at Disney

Content from Walt Disney’s [DIS] internal Slack system has been leaked online by hacking group NullBulge, which released details of ad campaigns, studio technology and details about unreleased projects going back to at least 2019, the Wall Street Journal reported. Slack is owned by Salesforce [CRM]. Elsewhere in cybersecurity, US drugstore chain Rite Aid [RADCQ] said customer data was accessed by an unknown third party on 6 June.

Musk Backs Trump

On Monday Elon Musk posted on X that Tesla’s [TSLA] hotly anticipated robotaxi event, originally scheduled for 8 August, had been postponed until October, after he requested “an important design change to the front”. Musk also said he would put $45m per month towards a new super political-action committee, called America PAC, backing former President Donald Trump. Other members include Palantir [PLTR] Co-founder Joe Lonsdale and the Winklevoss twins.

Trump Media Climbs Post-Shooting

The company behind Truth Social-owner Trump Media [DJT] opened the week 70% higher following an assassination attempt at the former president’s rally in the swing state of Pennsylvania on Saturday. Bitcoin also rose 5% to $63,204, buoying other crypto-related stocks. Another Trump presidency would likely lead to tax cuts and looser regulation in key areas, crypto among them, and markets are seemingly pricing in the possibility.