Since my last article on B2W Companhia Digital (BTOOY), the stock increased by 28.84%. During the same period, the S&P 500 increased by 5.67%, and [[EWZ]], which holds B2W in its portfolio, increased by 10.6%. A decent alpha was achieved no matter how you look at it. Since then, several important events have occurred. B2W signed two partnerships, one with Arcos Dourados Comércio de Alimentos Ltda ("McDonald's Brasil") (ARCO), and the other with Ancar Ivanhoe Shopping Centers S.A. Also, B2W is currently studying the possibility of a capital increase by private