DIRS.INFO The most relevant business & tech news

☆ Israel's limited attack on Iran was to send a message that it can penetrate Iranian defenses whenever it wants, experts say
▼ + stars: | 2024-04-19 | by ( Joshua Zitser | ) www.businessinsider.com time to read: +4 min

Israel carried out a limited military strike on Iranian soil on Friday morning. Analysts said the strike was likely a demonstration of Israel's capacity to reach Iranian nuclear sites. Two unnamed Israeli defense officials also told The New York Times that the Israeli military had mounted the attack. Related storyReports said that explosions were heard close to an Iranian military base near Isfahan, with Iranian state media outlet IRNA reporting that air defense systems had been activated. IAEA can confirm that there is no damage to #Iran’s nuclear sites.

Persons: Israel, —, IRNA, @rafaelmgrossi, Jonathan Conricus, they've, Richard Goldberg, Ahmad Haqtalab Organizations: Service, Washington Post, Post, New York Times, Nuclear Threat Initiative, International Atomic Energy Agency, IAEA, Israel Defense Forces, White House National Security Council, Iranian Revolutionary Guards Locations: Iran, Israel, Damascus, Iranian, Isfahan, Ifsahan, Jerusalem

☆ Thursday's rapid-fire: UAA, DG, HOOD, CAT, WSM
▼ + stars: | 2024-03-14 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThursday's rapid-fire: UAA, DG, HOOD, CAT, WSMJim Cramer looks at a slew of stocks in the news.

Persons: WSM Jim Cramer Organizations: DG, CAT, WSM

☆ Dollar General's brand is showing some cracks and may be a warning sign ahead of earnings
▼ + stars: | 2024-03-12 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +7 min

In collecting this data, the firm saw a deterioration in the Dollar General brand last year. As of Monday's close, Dollar General's stock is up more than 57% from a 52-week low of $101.09 reached in mid-October. Their research found that consumers felt the cleanliness of Dollar General's stores, a top five driver of satisfaction, lagged key peers Dollar Tree and Family Dollar, and fell 2% further in February. Until November, shoppers rated Family Dollar and Dollar General's product offerings more or less on a par with each other. In addition to Dollar General's own challenges, all dollar stores are likely being hurt by weaker spending among low income consumers.

Persons: Vasos, what's, Todd Vasos, Jeff Owen, Gordon Haskett, Chuck Grom, Grom, bode, Piper Sandler, Peter Keith, Keith, Morgan Stanley, Simeon Gutman, Gutman, Michael Lasser, Lasser, Matthew Boss, — CNBC's Michael Bloom Organizations: Dollar, DG, Occupational Safety, Health Administration, SNAP, UBS, JPMorgan

☆ Here are Tuesday's biggest analyst calls: Apple, Tesla, Coinbase, Sony, Oracle, FedEx, Nike, Carvana & more
▼ + stars: | 2024-03-12 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

"We initiate coverage on Regeneron with an Outperform rating and $1,125 price target." Canaccord reiterates MicroStrategy as buy Canaccord raised its price target on the crypto company to $1,810 per share from $975. "We are initiating coverage of The New York Times with a Buy rating and a $52 target price. "DG – Upgrading to Neutral Raising Price Target to $158." "We are initiating coverage of Central Garden & Pet ( CENT) with a BUY rating and $52 price target."

Persons: Bernstein, Morgan Stanley, Tesla, it's, optionality, Canaccord, Goldman Sachs, PDD, Goldman, Jefferies, underperform Jefferies, Raymond James, underperform Raymond James, Argus, Evercore, William Blair, Goldman Sacks Organizations: Citi, New York Times, Nike, JPMorgan, RBC, Bank of America, Apple, Oracle, Central, FedEx, Macquarie, Sony Locations: China

☆ Fintech Griffin just secured full regulatory approval. Here's the 12-slide pitch deck it used to raise $24 million as a fully-fledged bank.
▼ + stars: | 2024-03-11 | by ( Callum Burroughs | ) www.businessinsider.com time to read: +2 min

British banking-as-a-service fintech Griffin has raised new funding after receiving regulatory approval to be a fully operational bank. The market is god awful, so not having to do a down-round, with outside investors coming in, is the best outcome." Griffin has raised £19.1 million, around $24 million, in a funding round led by MassMutual Ventures, NordicNinja, and Breega, with participation from Notion Capital, EQT Ventures, DG Daiwa and CircleRock. "We are hiring, but unlike earlier rounds, we aren't going on a hiring blitz, as we did the hiring for this round before the round closed. We were about to be a fully operational bank, so we needed operations roles," Jarvis added.

Persons: fintech Griffin, Griffin, David Jarvis, Allen Rohner, Jarvis, We've Organizations: Business, Prudential, Authority, Financial, MassMutual Ventures, NordicNinja, Notion, EQT Ventures, DG Locations: London

☆ 4 economic reports the market cares about most next week, including a fresh look at inflation
▼ + stars: | 2024-03-09 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Within the Club, we heard this week from Foot Locker on Wednesday, then from Costco and Broadcom on Thursday. The big economic data drop of the week arrived Friday with February's nonfarm payrolls report . The center of attention is Tuesday's February consumer price index report . On Thursday, the February produce price index is due out. ET: Producer Price Index 8:30 a.m.

Persons: FactSet, Locker, Foot Locker, February's nonfarm, Jerome Powell, he's, we'll, MANU, LEN, Jim Cramer's, Jim Cramer, Jim, Mostafa Bassim Organizations: Nasdaq, Dow Jones Industrial, Costco, Broadcom, Commerce, Federal, PPI, Ballard Power Systems, Fortrea Holdings, Casey's, Vail Resorts, MTN, Daniels, Midland, Kohl's Corporation, Kanzhun, Game Technology, Manchester United, Blade Air Mobility, Clover Health, Beauty Health, Energy Vault Holdings, PHX Minerals, Guild Holdings, Finance, Heron Therapeutics, ZIM Integrated Shipping Services, Arcos Dorados Holdings, ARCO, Petco, Wellness Company, Farms, Sonoma, WSM, ESS Tech, DICK'S Sporting, Inc, Futu Holdings, Bear, Autolus Therapeutics, III Apparel, Solo Brands, Weibo Corporation, Embraer, CNBC, Washington DC, Anadolu, Getty Locations: U.S, Asana, ASAN, Williams, Washington, United States

☆ Retailers turn to an unlikely source to boost profits. Walmart shows how powerful this lever could be
▼ + stars: | 2024-03-05 | by ( Alex Harring | ) www.cnbc.com time to read: +9 min

There are three main routes through which retailers like Walmart benefit from advertising, Tarlowe said. The focus in retail advertising once transitioned from in-store to retailer websites with the e-commerce boom, Gutman said. Walmart: The pack leader With the deal, Walmart appears ahead of the retail pack, Gutman said. Connected TV is also just one part of a broader tide-change that's bolstering optimism on the stock, analysts told CNBC Pro. Other retail ideas Beyond Walmart, analysts said retailers need size and scale to perform well within off-site advertising.

Persons: Jefferies, Corey Tarlowe, Tarlowe, Morgan Stanley, Matt, Simeon Gutman, Gutman, it's, Roku, FactSet, Warren Buffett, Franklin Templeton, Dan Niles Organizations: Walmart, Intelligence, Retailers, Albertsons, CNBC, P Retail, Costco, Target, FactSet, TGT, Nvidia, & & , & & () Locations: Arkansas, Vizio

☆ The 'best' investment right now: Fund manager picks stocks with almost 15% total returns
▼ + stars: | 2024-02-26 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

Shares of oil giants and European infrastructure companies can act as a hedge against inflation while also delivering strong annual growth, according to fund manager Freddie Lait. Lait manages two funds — the Latitude Horizon Fund and the Latitude Global Fund — with more than $750 million of assets collectively and holds all three stocks in both funds. BP SHEL 1Y line The fund manager explained that with oil currently around $85 per barrel, and his assumption of $70-75 long-term, his oil and gas stock picks can generate nearly double-digit annual returns for shareholders. 'Phenomenally interesting' stock Beyond energy names, Lait said his favorite inflation-linked stock is Vinci which he described as "phenomenally interesting." The company operates a mix of toll roads and civil engineering projects with long-term inflation adjustment mechanisms.

Persons: Freddie Lait, Lait, Vinci, Goldman Sachs Organizations: Latitude Investment Management, Shell, CNBC Pro, International Energy Agency, London Gatwick, Atlantic City International, Vinci Locations: Saudi Arabia's, Aramco, Burbank, United States

☆ Super Bowl 2024: Online superstore Temu doubles down with TV ad and $15 million in giveaways
▼ + stars: | 2024-02-12 | by ( Juliana Liu | ) edition.cnn.com time to read: +3 min

Hong Kong CNN —A year after making its advertising debut at the Super Bowl, Chinese-backed online shopping platform Temu is redoubling efforts in its most important market with a second ad on America’s biggest stage and $15 million in coupons and other giveaways. The Boston-based firm — owned by PDD (PDD), the group behind Chinese online shopping giant Pinduoduo — paid for three ads during the game and two after the game. Commercials for the 2024 Super Bowl sold for higher rates than for last year’s game, with a range of $6.5 million to $7 million per 30-second spot broadcast on TV channel CBS, two individuals familiar with this year’s advertising sales told CNN. “The commercial marks the highlight of a Super Bowl campaign that featured more than $15 million in coupons and giveaways,” Temu said in a statement. As a result, PDD’s market capitalization soared that month, eclipsing that of older e-commerce rival Alibaba (BABA) for the first time.

Persons: Hong Kong CNN —, ”, ” Temu, Seema Shah, ” Shah, “, Temu, spender, Earnest Analytics, PDD, Alibaba, Alibaba’s, Jack Ma Organizations: Hong Kong CNN, Super Bowl, PDD, CBS, CNN, Bowl, Amazon, Super, Facebook, Dollar Locations: China, Hong Kong, Boston, United States, United Kingdom, Mexico, Germany, Australia

☆ Past decade was the hottest on record as climate change ‘surged alarmingly,’ WMO reports
▼ + stars: | 2023-12-05 | by ( Laura Paddison | Brandon Miller | ) edition.cnn.com time to read: +4 min

CNN —The decade between 2011 and 2020 was the hottest on record for the planet’s land and oceans as the rate of climate change “surged alarmingly,” according to a new report from the World Meteorological Organization. This year is also expected to be the hottest year, after six straight months of record global temperatures. Scientists have said this year’s exceptional warmth is the result of the combined effects of El Niño and human-caused climate change, which is driven by planet-warming fossil fuel pollution. A separate analysis released Monday by the Global Carbon Project found that carbon pollution from fossil fuels is on track to set a new record in 2023 – 1.1% higher than 2022 levels. The WMO report comes partway through the UN-backed COP28 climate summit, on the day focused on energy and industry.

Persons: El, Petteri Taalas, ” Elena Manaenkova, Anupam Nath, –, ” Taalas, ”, Pierre Friedlingstein, Amy Cassidy Organizations: CNN, World Meteorological Organization, Global, Project, WMO, UN, EU, Copernicus, DG DEFIS, Reuters, El Niño, University of Exeter’s Global Systems Institute Locations: Dubai, India, China, US, EU, Mayong, Gauhati, Assam, Greater London, Antarctica, Paris, El, COP28

☆ Signs of a sector rotation — plus 2 more themes to watch in the stock market
▼ + stars: | 2023-12-02 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

Historically, November is the best month of the year for the stock market, and December is third, according to the Stock Trader's Almanac. Under the surface this week, we also saw signs of a possible market rotation in the works. Rotation watch : We must look to next week's trading for confirmation that we're in the grips of a rotation or simply a head fake. Signs of the former were on display this week as the two of the biggest sector winners of the year, communication services and technology , trailed the market. Jobs, jobs, jobs : The most important release of the week comes Friday in the form of the November nonfarm payrolls report.

Persons: Jerome Powell, That's, Locker, it's, Hock Tan, We'll, Joann, JOAN, JM Smucker, OLLI, Campbell Soup, Brown, Forman, LULU, Smith, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Wall, Dow, Nasdaq, Federal, Broadcom, Marvell Technology, Cisco Systems, VMWare, Club, PMI, Labor, Signet Jewelers, SIG, Brands, Toll, Thor Industries, Natural Foods, GameStop, Vail Resorts, MTN, Smith & Wesson, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Getty Locations: Asana, ASAN, New York City

☆ COP28 DG says we need negotiated outcome, action agenda to achieve Paris climate target
▼ + stars: | 2023-12-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailCOP28 DG says we need negotiated outcome, action agenda to achieve Paris climate targetCOP28 Director General Majid Al Sawadi discusses the announcement of the $30 billion Alterra fund and the agenda on the ground at the global climate change conference.

Persons: COP28, Majid Al Sawadi Locations: Paris

WILL SHOPPERS FIND BLACK FRIDAY DEALS THIS YEAR? HOW MUCH ARE SHOPPERS EXPECTED TO SPEND? Spending online during Black Friday is expected to rise 5.7% to roughly $9.6 billion, according to Adobe. WHAT ARE RETAILERS DOING TO ATTRACT HOLIDAY SHOPPERS? Macy's CEO Jeff Gennette on Thursday said the competitive landscape has shifted to Black Friday deals prior to Black Friday.

Persons: Marcus Collins, Collins, Jane Hali, Max, Lancome mascaras, Bobbi Brown concealers, Dana Telsey, Leonardo Fernandez Viloria, David Bujnicki, Kimco, Jeff Gennette, Mattel, Steve Totzke, Juveria Tabassum, Savyata Mishra, Richa Naidu, Helen Reid, Herbert Lash, Josie Kao Organizations: Retailers, Department, Ross School of Business, University of Michigan, Dollar, Walmart, Associates, Nordstrom, Adobe Analytics, Electronics, Mastercard, National Retail Federation, Telsey Advisory, Sensormatic Solutions, U.S, Black, REUTERS, Adobe, Labor, Kimco Realty Corp, Consumers, Deloitte, Reuters, Thomson Locations: U.S, Europe, Philadelphia, China, United States, Caracas, Venezuela, Panama, Israel, Sixth, Washington, Germany, India, Spain, United Kingdom, Bengaluru, London

☆ Want to pick a winning retail stock this holiday season? Watch for discounts and deflation
▼ + stars: | 2023-11-22 | by ( Christina Cheddar Berk | In | ) www.cnbc.com time to read: +9 min

However, he added, they remain more upbeat compared with last holiday season and should spend more on gifts this year. According to FactSet, analysts anticipate there could be upside of more than 20% ahead, based on average price targets. The e-commerce giant is JPMorgan analyst Doug Anmuth's top pick for the holiday season. "We project US e-comm penetration at 23.4% of adj retail sales this holiday season, +90bps above the 22.5% in 2022," he said. "We think beauty has the potential to be a relevant gifting solution for cash-strapped consumers during the upcoming Holiday season," he said.

Persons: Chad Lusk, Alvarez, Lusk, Martis, LSEG, Inna Kuznetsova, Doug Anmuth's, Doug McMillon, Krisztina Katai, Katai, Michael Lasser, Ulta, Lasser, ToolsGroup's Kuznetsova, Marsal's Lusk, Michael Bloom Organizations: Shoppers, CNBC, Walmart, Target, Retailers, Centric Market Intelligence, Amazon, LSEG, JPMorgan, Deutsche Bank, Costco, UBS, Fed, Black Locations: Lusk, Ulta, Wayfair, Williams, Sonoma

[1/4] Consumers struggle to enter a store to buy shoes in a store at a shopping center during Black Friday sales, in Caracas, Venezuela November 25, 2022. WILL SHOPPERS FIND BLACK FRIDAY DEALS THIS YEAR? HOW MUCH ARE SHOPPERS EXPECTED TO SPEND? Spending online during Black Friday is expected to rise 5.7% to roughly $9.6 billion, according to Adobe Analytics. Macy's CEO Jeff Gennette on Thursday said the competitive landscape has shifted to Black Friday deals prior to Black Friday.

Persons: Leonardo Fernandez Viloria, Marcus Collins, Collins, Dana Telsey, Jane Hali, Max, Lancome mascaras, Bobbi Brown concealers, Jeff Gennette, Mattel, Steve Totzke, Juveria Tabassum, Savyata Mishra, Richa Naidu, Helen Reid, Josie Kao Organizations: Black, REUTERS, Retailers, Department, Ross School of Business, University of Michigan, Labor, National Retail Federation, Telsey Advisory, Sensormatic Solutions, U.S, Adobe Analytics, Dollar, Walmart, Associates, Nordstrom, Adobe, Consumers, Deloitte, Electronics, Mastercard, Reuters, Thomson Locations: Caracas, Venezuela, U.S, Europe, Philadelphia, Panama, United States, United Kingdom, China, Bengaluru, London

LSEG Workspace, a financial news and data platform, calculated inventory turnover ratios of 30 major U.S. retailers for Reuters. "I am relatively pessimistic about the holiday season," said Gerald Storch, retail consultant and former Target vice chairman and ex-CEO of Hudson's Bay. Department stores' holiday season is "likely not going to be that strong," said David Swartz, a Morningstar analyst. Reuters Graphics Reuters GraphicsTo be sure, inventory turnover is not the only metric Wall Street investors use to judge retailers' inventory levels. Some are already slashing prices and dangling discounts to clear excess inventory before Black Friday, the start of holiday shopping season.

Persons: King, King of Prussia, Sarah Silbiger, Gerald Storch, Jeff Bornino, David Swartz, Ulta, pare, Jason Benowitz, Joseph Feldman, Jane Hali, Nordstrom, Brian Mulberry, Savyata Mishra, Ananya Mariam Rajesh, Richa Naidu, Siddharth Cavale, Aishwarya Venugopal, Rod Nickel Organizations: REUTERS, Dollar, Walmart, Reuters, North America, Kroger, Department, Morningstar, TJX Companies, Dick's Sporting, Reuters Graphics Reuters, Roosevelt, Telsey Advisory, Research, Associates, Nordstrom, Zacks Investment Management, Thomson Locations: King of, King, King of Prussia , Pennsylvania, U.S, Hudson's, North

☆ AirFrance-KLM invests in DG Fuels' US sustainable fuel production plant
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +1 min

Nov 10 (Reuters) - French-Dutch airline AirFrance-KLM (AIRF.PA) has made a $4.7 million investment in DG Fuels' Sustainable Aviation Fuel (SAF) production plant in the U.S. state of Louisiana, a step towards its 10% SAF incorportation target for 2030. "Air France-KLM acquired an option to purchase up to 25 million gallons / 75,000 tons of SAF annually over a multi-year period beginning in 2029," the group said in a press release on Friday. Sustainable aviation fuels, which use waste such as cooking oils and have either net-zero CO2 emissions or lower CO2 emissions than kerosene, a fossil fuel, are seen as an option to curb air travel's carbon footprint. The European Union has adopted rules requiring flights departing from EU airports to carry a progressively increasing amount of SAF, starting from 2% of total fuel in 2025. Reporting by Stéphanie Hamel; Editing by Kirsten DonovanOur Standards: The Thomson Reuters Trust Principles.

Persons: Stéphanie Hamel, Kirsten Donovan Organizations: AirFrance, KLM, DG Fuels, Aviation Fuel, SAF, France, European, Thomson Locations: U.S ., Louisiana

☆ A bearish bet on a dollar store stock that keeps hitting resistance
▼ + stars: | 2023-10-31 | by ( Nishant Pant | ) www.cnbc.com time to read: +4 min

A bearish bet on Dollar General using Options Spreads Dollar General (DG) has been stuck in a bear trend since November 2022. And although DG has experienced some upward momentum since mid-October, this upward momentum is now facing resistance once again at the 50-day average. Starting on 10/26, RSI has changed direction and is pointing down, indicating that the stock is losing its upward momentum. DMI (Directional Movement Index): a) When the DI+ (green line) is above DI- (red line), the stock is in an uptrend. DG YTD mountain Dollar General, YTD If DG is trading at 119 or below on expiration date, this trade will double my money.

Persons: Nishant Organizations: RSI, DI, DG, ½, YTD

Wall Street's three major indexes opened higher but lost ground after a preliminary reading on U.S. consumer sentiment showed a sharp fall in October. The moves in bonds, equities and oil reflect worries about deteriorating consumer sentiment, the global economy and geopolitical conflict, she added. However, for the week the S&P 500 registered a 0.45% gain for its second weekly advance in a row. The S&P 500 Banks index (.SPXBK) pared gains as the day wore on to close up 0.6% after rising as much as 3.4% to a three-week high. The S&P 500 posted 12 new 52-week highs and 20 new lows; the Nasdaq Composite recorded 28 new highs and 335 new lows.

Persons: Brendan McDermid, Wells, Wall, Dow, Israel, Lauren Goodwin, Goodwin, Patrick Harker, Todd Vasos, Jeff Owen, advancers, Sinéad Carew, Shashwat Chauhan, Ankika Biswas, Shounak Dasgupta, Anil D'Silva, Shinjini Ganguli, Richard Chang Organizations: New York Stock Exchange, REUTERS, JPMorgan, Dow, Nasdaq, The United Nations, Treasury, New York Life Investments, Dow Jones, JPMorgan Chase, Citigroup, Federal Reserve Bank of Philadelphia, BlackRock, Dollar, Boeing, NYSE, Thomson Locations: New York City, U.S, Wells Fargo, Gaza, Israel, BLK.N, Bengaluru

REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsSummaryCompanies Wells Fargo gains as Q3 profit risesJPMorgan Q3 profit rises on interest income boostBlackRock reports Q3 profit growthUnitedHealth gains on Q3 profit beatFutures: Dow flat, S&P down 0.18%, Nasdaq down 0.43%Oct 13 (Reuters) - Futures tracking Wall Street's main indexes fell on Friday as investors assessed earnings from big U.S. banks, while Treasury yields eased following a spike in the previous session. JPMorgan Chase(JPM.N), the biggest U.S. bank, posted a jump in third-quarter profit as higher interest rates boosted its income from loans. BlackRock (BLK.N) reported a 13% rise in third-quarter profit on a rebound in markets. UnitedHealth (UNH.N) advanced 2.5% after beating third-quarter profit estimates, helped by lower-than-expected medical costs for the healthcare conglomerate. Traders put the chance of interest rates remaining unchanged in November and December at around 92% and around 69%, respectively, according to CME's FedWatch tool.

Persons: Brendan McDermid, JPMorgan Chase, Wells Fargo, Rob Swanke, Patrick Harker, Susan Collins, Todd Vasos, Jeffery Owen, Shashwat Chauhan, Ankika Biswas, Saumyadeb Organizations: New York Stock Exchange, REUTERS, Companies Wells, JPMorgan, BlackRock, Dow, Nasdaq, U.S, Citigroup, Commonwealth Financial Network, Fed Bank of Philadelphia, Federal Reserve Bank of Boston, Traders, University of Michigan's, Dow e, Investors, Hamas, Exxon Mobil, Chevron, Callon Petroleum, Occidental Petroleum, Dollar, Boeing, Thomson Locations: New York City, U.S, BLK.N, Israel, Gaza City, Bengaluru

☆ Futures edge lower ahead of big bank earnings
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +3 min

SummaryCompanies Futures down: Dow 0.02%, S&P 0.11%, Nasdaq 0.25%Oct 13 (Reuters) - Futures tracking Wall Street's main stock indexes edged lower on Friday as investors looked ahead to earnings reports from big U.S. banks, while Treasury yields eased after a spike in the previous session. JPMorgan Chase (JPM.N), Wells Fargo (WFC.N) and Citigroup (C.N) are scheduled to report quarterly numbers before the opening bell. Asset manager BlackRock (BLK.N), health insurer UnitedHealth Group (UNH.N) and regional lender PNC Financial (PNC.N) are also slated to report earnings. Remarks from Fed Bank of Philadelphia President Patrick Harker, a voting member on the rate-setting Federal Open Market Committee (FOMC) this year, would also be on investors' radar during the day. On the data front, a preliminary estimate of the University of Michigan's October Consumer Sentiment Index is due at 10 a.m.

Persons: JPMorgan Chase, Rob Swanke, Patrick Harker, Susan Collins, Todd Vasos, Jeffery Owen, Shashwat Chauhan, Saumyadeb Organizations: Dow, Nasdaq, JPMorgan, Citigroup, BlackRock, UnitedHealth, PNC Financial, Commonwealth Financial Network, Fed Bank of New, Fed Bank of Philadelphia, Market, Federal Reserve Bank of Boston, Traders, Treasury, University of Michigan's, Dow e, Hamas, Thomson Locations: Wells Fargo, Fed Bank of New York, U.S, Israel, Gaza City, Bengaluru

☆ Dollar General bets on old boss’s old magic
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +2 min

NEW YORK, Oct 13 (Reuters Breakingviews) - Dollar General (DG.N) is reaching back to happier days. In that time, shares plummeted 60%, compared to rival Dollar Tree’s (DLTR.O) gentler decline of roughly a fifth. Meanwhile, Dollar General has repeatedly missed analyst expectations as net profit margin fell from nearly 7% to estimates of 3% for this quarter, according to LSEG. Under his previous stint from 2015 until 2022, shares returned an annualized 19%, beating Dollar Tree, Walmart (WMT.N) and Big Lots (BIG.N). Dollar General faces plenty of challenges shared by all retailers, from rising wages to shifting consumer spending.

Persons: Todd Vasos, Jeff Owen, Vasos, Walt Disney, Bob Iger, Howard Schultz, outperforming, doesn’t, Jennifer Saba, Larry Fink, Uncle Sam, Jonathan Guilford, Sharon Lam Organizations: Reuters, Walmart, Walt, Starbucks, X, Infosys, Thomson Locations: Europe

☆ Buy this beaten-down discount retailer after a major leadership change, Gordon Haskett says
▼ + stars: | 2023-10-13 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Dollar General 's latest leadership change could help re-stabilize the company and put it on track toward growth again, according to research firm Gordon Haskett. Analyst Chuck Grom upgraded shares to buy from hold in a Friday note. He also established a price target to $140, which implies shares could rally 37% over the next 12 months. Following Thursday's close, Dollar General announced former CEO Todd Vasos would be returning and replacing Jeff Owen as chief executive, effective immediately. "Taking these factors into consideration, we think Dollar General should undertake a significant margin re-set in 2024 to pave the way for a return to both comp and EBIT dollar growth in FY25 (and beyond).

Persons: Gordon Haskett, Chuck Grom, Thursday's, Todd Vasos, Jeff Owen, Owen, Grom, Vasos, — CNBC's Michael Bloom Organizations: Dollar General, DG

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. JPMorgan Chase (JPM.N), Wells Fargo (WFC.N) and Citigroup (C.N) rose between 3% and 5% after trouncing quarterly profit estimates as they benefited from higher interest rates. The S&P 500 Banks index (.SPXBK) gained 3.2%, hitting a three-week high. Options traders are bracing for larger-than-usual post-earnings stock price swings for some U.S. banks, despite signs of cooling volatility in broader markets, options data showed. The energy sector (.SPNY) tracked a more than 3% jump in crude prices and led the gains among S&P 500 sectors.

Persons: Brendan McDermid, Wells, JPMorgan Chase, Wells Fargo, Stuart Cole, Cole, Patrick Harker, Investors, Todd Vasos, Jeffery Owen, Shashwat Chauhan, Ankika Biswas, Saumyadeb Chakrabarty, Shounak Dasgupta, Anil D'Silva Organizations: New York Stock Exchange, REUTERS, Companies JPMorgan, Citigroup, Dow, Nasdaq, JPMorgan, Citi, Equiti, BlackRock, Federal Reserve Bank of Philadelphia, Dow Jones, Hamas, Dollar, Boeing, NYSE, Thomson Locations: New York City, U.S, Wells Fargo, Israel, Gaza City, Bengaluru

☆ Dollar General reappoints former CEO Vasos for second stint, cuts FY23 view
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +2 min

A view of a fresh food aisle at a Dollar General store in Norridge, Chicago, U.S., August 24, 2021. With Vasos' appointment, Dollar General hopes "to restore stability and confidence" in the company, whose stock has lost more than half its value so far this year. But for now, the company trimmed its annual sales and profit estimates for a third time, just over a month after it forecast a steep drop in annual profit and missed market expectations for second-quarter results. Vasos "is acutely aware of the challenges facing our business and the industry more broadly" Dollar General said, adding his appointment was effective immediately. It tightened the range of its annual net sales growth outlook to 1.5% to 2.5%, from a prior range of 1.3% to 3.3% growth.

Persons: Richa Naidu, Todd Vasos, Jeffery Owen, Vasos, Savyata Mishra, Maju Samuel, Shinjini Organizations: REUTERS, Thomson Locations: Norridge , Chicago, U.S, Bengaluru

Search resuls for: "DG"

25 mentions found