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Woke Developer Bungie Apologizes To Gamers...But Not Really
The mass conservative boycott against woke companies and far-left content has been wildly successful. While the political left has repeatedly attempted such boycotts and "cancellations" over the years, not one has ever been as effective as the "Chud" revolution against woke media.
It took a few years (along with a slowdown in outside funding from ESG programs and venture capital), but some of the biggest corporations in the world have been forced to acknowledge that ideological content just isn't working. The much vaunted "modern audience" that progressive stalwarts bragged about failed to materialize. It was always a myth. It never existed.
These businesses killed their own bottom line and alienated long-time customers in the name of a bizarre cult religion representing a small portion of the global population. And even more embarrassing for companies like Bungie, those weirdos don't spend much money on video games anyway.
The Bungie game studio achieved widespread acclaim with early installments of the Halo series, a direct competitor to Call Of Duty. But, around 2014-2016, something changed. The company started listening to the Twitter mob (a leftist echo chamber) and began hiring clucking broods of woke developers.
Bungie integrated LGBT, DEI and feminist propaganda into their games. Their senior narrative designer publicly defended the notorious Sweet Baby Inc., a woke consultation group known for "terrorizing" gaming companies into injecting woke content into their products. Though, there is no direct evidence that Sweet Baby Inc. ever consulted for Bungie.
To summarize the attitude of these people: They insist that they be able to "see themselves" in every media product, to the detriment of everyone else.
The homosexual fantasies and trans delusions of developers were forced into character stories and designs. The women got uglier and more masculine. The men were more feminine and fruity. Characters that were never gay were retconned and turned gay. The minority pie chart was on full display and white straight men were quickly phased out.
Bungie's Destiny 2 ultimately collapsed and Marathon was a disaster for the studio leading to mass player walkouts. Sony took a $765M impairment on Bungie in FY2025, tied to Destiny 2’s slide and Marathon’s launch quarter (That is the company admitting the portfolio is worth a lot less than they paid).
Finally, this week, the truth came out - Bungie is facing disaster, so much so that they posted a video "apologizing" to their gamer customers.
However, veiled in a flurry of corporate-speak is a refusal to admit what the real problem is; the real reason why they failed. At no point does Bungie admit that their company was destroyed by woke ideology. At no point do they admit "Get Woke, Go Broke" was right all along.
Instead, they pretend to offer an olive branch while barrelling ahead with games like Marathon that are already catastrophic failures. Games that no one wants to play and will never want to play. They say they want to listen to their customers, but not really. Their customers are telling them to cleanse the company of wokeness, but they won't even acknowledge that wokeness is the original source of the problem.
We have seen this time and time again with desperate media companies seeking a reprieve from the boycotts; they beg the audience to come back, they might even fire a bunch of their activist employees, but they never admit that progressive cultism poisoned their relationship with their customers.
Until these companies are willing to do this, there is really no reason to give them another chance. Until they face the truth and renounce the woke cult, it is perhaps better if they are allowed to die so they can be replaced by someone better.
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Canada's Oil Patch On Track For Biggest M&A Wave In A Decade
Authored by Alex Kimani via OilPrice.com,
Nearly a decade ago, the Canadian Oil Patch recorded a major asset sale and consolidation wave as oil majors exited the oil sands in favor of higher margins in U.S. shale oil as well as environmental concerns amid the ESG investing craze.
To wit, Shell Plc (NYSE:SHEL) sold the majority of its oil sands interests to Canadian Natural Resources Ltd. (NYSE:CNQ) in 2017 a transaction valued at roughly $11.1 billion CAD ($8.5 billion USD), while Cenovus Energy (NYSE:CVE) acquired most of ConocoPhillips' (NYSE:COP) Canadian assets for C$17.7 billion (approximately US$13.2 billion). And now a similar dynamic is unfolding across Canada's energy sector: Canada's oil patch has recorded over $30 billion in mergers and acquisitions so far in the current year, with Wall Street projecting that this year's final tally will surpass the $53 billion recorded in 2017. However, this year's M&A wave is fundamentally different from its 2017 peer since it's mainly being driven by high oil and asset prices amid the Middle East conflict rather than a desperate attempt to dispose off distressed assets, "Whereas recently, we've seen a lot of clients merging from positions of strength, because it's the best outcome for shareholders at the time," Raj Singh, CEO at Calgary-based Fuelled Inc., told the Financial Post. "That's a healthier dynamic, and it tends to produce more durable combinations."
So far, this year's key highlight has been Shell's takeover of Arc Resources for $16.4 billion as the Dutch major looks to boost its depleted energy reserves, secure low-cost production and insulate its global liquefied natural gas (LNG) supply chain from the Middle Eastern fallout. Prior to the acquisition, Shell faced an existential threat, with an estimated reserve life of just 5.3 years - well below the 10-year industry benchmark for European supermajors. ARC Resources immediately adds 370,000 barrels of oil equivalent per day (boe/d) to Shell's output, improving its projected annual production growth rate from 1% to roughly 4% through 2030.
To sweeten the deal further, ARC Resources is a premier, pure-play producer in Western Canada's natural-gas-heavy Montney Basin, while Shell owns a 40% operating stake in the massive LNG Canada export facility in British Columbia. By absorbing ARC, Shell effectively integrates its supply chain, securing the upstream gas needed to feed LNG Canada and paving the way to greenlight a Phase 2 expansion that could double the facility's size. Finally, whereas ARC is heavily focused on natural gas, roughly 40% of its output (and 70% of its underlying economic value) comes from high-margin oil and condensate liquids, with the asset mix increasing Shell's exposure to low-cost, long-duration liquids.
In yet another high-dollar deal, Tamarack Valley Energy Ltd. (OTCPK:TNEYF) and Headwater Exploration Inc. (OTCPK:CDDRF) recently announced a definitive agreement to merge in an all-stock transaction valued at C$10 billion ($7.25 billion). The combined company expects production exceeding 80,000 barrels of oil equivalent per day (boe/d), making it the largest publicly traded pure-play Clearwater oil producer. Tamarack has already secured 25,000 barrels per day of Trans Mountain pipeline capacity starting in Q1 2027 that will allow the company to access West Coast markets, alongside long-term access to Cushing, Oklahoma, via the proposed South Bow Prairie Connector.
And just last week, American institutional private equity firm Carlyle expanded its Canadian energy footprint by forming a new entity, Avenrock Energy, to acquire Calgary-based private operator Parallax Energy Operating Inc. from Carnelian Energy Capital. Although details of the deal were not divulged, analysts believe the transaction cost hovers around $1 billion. That marked the private equity giant's second multi-billion-dollar scale push into Alberta's energy sector within a 12-month window after it acquired Kiwetinohk Energy Corp. in October for approximately $1.4 billion.
Parallax holds a 75% working interest across roughly 300,000 gross acres situated in Alberta's highly coveted East Shale Duvernay formation and gross production of 20,000 barrels of oil equivalent per day (boepd), weighted heavily toward high-value light oil and natural gas liquids (NGLs). Carlyle aims to leverage the Parallax infrastructure as a launchpad to scale an expansive Western Canadian light oil platform.
And, the energy experts are saying we are likely to see more deals like these before the year closes, "Inflation and commodity pricing have simply made producing assets very attractive right now," Singh told the Financial Post. "When corporate development teams run the numbers today, acquisitions look appealing and can pull forward returns for shareholders."
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"Moving The Goalposts": BofA Downgrades Nike, Slashes Target As Turnaround Story Delayed
Nike shares fell 2% in New York premarket trading after BofA retail analyst Lorraine Hutchinson downgraded the world's largest athletic footwear and apparel company, warning that its "turnaround is taking longer" than expected. With shares trading at 2014 levels, the downgrade adds new woes to a recovery story that might not materialize until 2028.
In the report published earlier today, titled "Moving the goalposts," Hutchinson downgraded Nike to "Underperform" from "Neutral" and cut her price target to $30 from $47, implying 17% downside from Thursday's close of $35.99.
Hutchinson now expects a sales decline through 2027, abandoning her earlier call for a 1H27 recovery and pushing the turnaround into 2028. She cut fiscal 2027 and 2028 earnings estimates by 11% and 12%, respectively. Her 2027 forecast of $1.43 a share sits roughly 14% below Visible Alpha consensus.
She added color:
Risks are rising, downgrading to Underperform
We see downside risk to EPS estimates and valuation as Nike's innovation continues to be overshadowed by a pressured classics business, while category and macro pressures build. We are cutting F27E/F28E EPS by 11%/12%; we now expect negative sales growth through F27E versus our prior view of a Spring inflection. Our F27E EPS is 14% below VA consensus. The dividend payout ratio is over 100% and, as a result, we are reducing our income rating to 8 (same/lower) from 7 (same/higher). Our $30 PO (was $47) is based on a 16x P/E (was 22x), now aligned with the peer average.
Wholesale momentum should slow as sell-through lags
NA wholesale has been an area of strength, growing 14% in F26 vs. flat total sales growth. In some instances, sell-through is lagging sell-in due to declines in classic styles and new launches that are missing expectations. This puts forward order books at risk as retailers become less willing to make a bet on newness until success is proven. We see progress slowing in 2Q as the business laps 24% growth, and remaining challenged in 2H as the current issues pressure Spring orders. We model NA wholesale sales declines beginning in 2Q through the rest of F27.
China reset faces a tougher demand backdrop
China is in flux, and Nike's reduction in partner online sales will likely cause promotional pressure through 2Q. After that, Nike is expected to present the brand more cohesively online. Competition is intense; the quest for newness is higher than ever, and we see risk that sales decline at least through F27. BofA's Luxury Goods team's China fieldtrip takeaways included weak sports demand, with product newness not resonating, moderation of running outperformance, and excess inventory driven by low demand.
Despite Nike's 44% year-to-date bear market, Hutchinson said it's "unlikely that the stock will hold a premium multiple in the face of further EPS cuts. We see some green shoots on product innovation, but those have been dwarfed by weaker larger casual categories."
She added, "We think the multiple could compress as the turn is pushed to F28."
According to Bloomberg data, there are 15 "Buy" ratings, 25 "Neutral" ratings and 7 "Sell" ratings on the stock, with a 12-month price target of $46.10.
The stock is already down 80% from its 2021 high of $177. Where stabilization occurs and halts the vicious bear market remains to be seen, but it could materialize next year as Wall Street analysts see a turnaround ahead. Yet BofA analysts have pushed that expectation back to 2028.
Tyler Durden Fri, 09/25/2026 - 13:35Suspected US Drone Strike Kills Alleged Al-Qaeda Member In Yemen
Authored by Dave DeCamp via AntiWar.com,
A suspected US drone strike hit a vehicle carrying two alleged al-Qaeda members in Yemen's southeastern Hadramout province on Tuesday, China's Xinhua news agency has reported.
A local security source told the news agency that one of the men in the vehicle was killed while the other was wounded. So far, there's been no confirmation of the strike from the US, but the US hasn't officially acknowledged an airstrike against Yemen's al-Qaeda affiliate, known as al-Qaeda in the Arabian Peninsula (AQAP) since 2020, even though it has continued the drone war.
Earlier this year, the Yemen Data Project reported that from January 2025 to March 2026, it found 21 reports of US drone strikes in Yemen through an investigation of open-source material, attacks that were separate from the US bombing campaign against Ansar Allah, also known as the Houthis, that took place last year.
The report of a US drone strike in southeast Yemen comes as fighting continues to rage in western Yemen between Ansar Allah and Saudi-backed forces since the war reignited back in July due to Saudi airstrikes on the Sanaa International Airport. The US is backing Saudi Arabia's airstrikes with targeting and intelligence support, as it did during the war from 2015 to 2022.
US weapons sold to Saudi Arabia and the UAE throughout the conflict ended up in the hands of militants linked to AQAP, according to a 2019 report from CNN, and the coalition was known to recruit al-Qaeda fighters in southern Yemen to fight against Ansar Allah, also known as the Houthis.
Ansar Allah is known to be a fierce enemy of al-Qaeda, and before the US supported the Saudi-led coalition's intervention in Yemen in 2015, the US was cooperating with Ansar Allah and sharing intelligence with the group as part of its strategy against AQAP.
Tyler Durden Fri, 09/25/2026 - 13:20