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☆ Jim Cramer adds three Bullpen stocks, including one that's a traffic cop for the internet
▼ + stars: | 2024-04-02 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

During our Investing Club Monthly Meeting last Wednesday, Jim Cramer announced three new additions to the Bullpen: Cloudflare , ServiceNow , and Nextracker . NET YTD mountain Cloudflare YTD The primary goal is reliability — making sure the website is managing traffic smoothly and, above all else, stays accessible. NOW YTD mountain ServiceNow YTD "They have become the great facilitator of much of the non-client facing AI at the enterprise and the government. NXT YTD mountain Nextracker YTD Previously this technology was considered too expensive, but Nextracker has been able to lower its costs to the point where it's now much more competitive. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, You've, Cloudflare, Matt Prince, Jim, he's, Cramer, ServiceNow, Nextracker, Goldman Sachs, Dan Shugar, Jim Cramer's Organizations: Nvidia, Accenture, NXT, Technologies, Barclays, Jim Cramer's Charitable, CNBC Locations: U.S, Nextracker

☆ 10 of our stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-01-27 | by ( Zev Fima | ) www.cnbc.com time to read: +16 min

All three major averages posted gains for the third consecutive week, lifted by solid quarterly earnings and positive economic data. Earnings season ramps up next week, with five of the Super Six mega-cap stocks delivering results. Employment numbers are the most important economic data, with Friday's January nonfarm payrolls report carrying the most weight. The January ISM Manufacturing report on Thursday and December's factory orders report Friday are expected to show the sector still in contraction mode. But earnings and commentary this week from peer Sartorious made us encouraged about a return to growth in 2024.

Persons: nonfarm, December's, Sartorious, We've, Stanley Black, Decker, We're, We'd, Royal Philips, Crane, Woodward, ServisFirst, Cadence Bancorporation, CADE, Johnson, Phillips, Avery Dennison, Columbus McKinnon, Robinson, SIRI, Cardinal Health, Parker, DOV, Pitney Bowes, Ferrari N.V, CSW, COLM, W.W, Grainger, Dwight Co, Jim Cramer's, Jim Cramer, Jim, Tim Cook, Justin Sullivan Organizations: Gross, Procter, Gamble, Gillette, Super, Consumer, JPM Healthcare, Amazon, Microsoft, Honeywell, Aerospace, Solutions, Apple Watch, Masimo, Vision Pro, Franklin Resources, Resource Partners, Bank of Marin Bancorp, Bank7 Corp, Pacific Premier Bancorp Inc, Provident Financial Holdings, Dynex, Cliffs Inc, Nucor Corp, Whirlpool Corp, F5 Networks, Capital Southwest Corp, Harbors Investment Corp, Crane Co, Payne, Equity, Heartland Financial, Cadence, FinWise Bancorp, Five Star Bancorp, PotlatchDeltic Corporation, Sanmina Corporation, Pfizer, General Motors Corp, United Parcel Service, JetBlue Airways Corporation, Smith Corp, Marathon Petroleum Corp, HCA Healthcare, Oshkosh Corporation, SYSCO Corp, Danaher Corp, Johnson Controls, M.D.C . Holdings, Commvault Systems Inc, Hope Bancorp, Hubbell Incorporated, Malibu Boats, Polaris Industries, Inc, Camden National Corp, Cambridge Bancorp, Microsoft Corp, Starbucks Corp, Devices, Electronic Arts Inc, Juniper Networks, Stryker Corp, Lending, Canadian, Canadian Pacific Kansas City Limited, Mondelez, Chubb Corporation, Modine Manufacturing, Partners, Management, Hawaiian Holdings, Manhattan Associates, Unum Group, UNM, Axos, Enova, Boston Properties, Boeing Co, Novo Nordisk, Mastercard Inc, Roper Technologies, Boston Scientific Corporation, MarketAxess Holdings, Fisher, Aptiv PLC, Hess Corp, Nasdaq, United Microelectronics Corp, Rockwell Automation, Teva Pharmaceutical Industries, Ltd, Avery, Avery Dennison Corp, Extreme Networks, Otis Worldwide Corporation, OTIS, Columbus, Columbus McKinnon Corp, Central Pacific Financial Corp, Brinker International, Fortive Corporation, Qualcomm, Technology, Metlife, Hanover Insurance, Barn Holdings, CONMED Corporation, DLH Holdings Corp, Meritage Homes Corporation, Honeywell International, Eaton Corp, Altria, Royal Caribbean Cruises Ltd, Merck, Co, Enterprise Products Partners, Dorian LPG, SiriusXM Holdings, Cardinal, Hannifin Corporation, Allegheny Technologies Incorporated, Tractor Supply Company, Trane Technologies, Dover Corp, Huntington Ingalls Industries, Brunswick Corporation, Dickinson, Canada Goose Holdings, Kirby Corp, WEC Energy Group, WestRock Company, Allegro MicroSystems, Ball Corporation, Broadridge Financial, BrightSphere Investment Group, CMS Energy Corp, Lancaster Colony Corp, Rogers Communications Inc, Sanofi, Apple, Atlassian Corporation, United States Steel Corp, Corp, Adtalem Global, Homes, DXC Technology Company, Eastman Chemical Company, Gen, Post Holdings, America, Columbia Sportswear Company, Exxon Mobil Corp, Chevron Corporation, Myers Squibb Co, CIGNA Corp, Regeneron Pharmaceuticals, Charter Communications, AON, Cboe, Dwight, Banco Santander, Jim Cramer's Charitable, CNBC, Apple Vision, Getty Locations: China, East, United States, Europe, Cleveland, Alexandria, California, Corning, Canadian Pacific, Teradyne, TER, Novo, Hanover, PBI, Skechers U.S.A, Bristol, Chile

Netflix and TKO Group Holdings said Tuesday that the streaming platform will air the WWE's flagship program Raw starting next year, in Netflix's first major foray into live sports. Netflix, which is trying to drive revenue by cutting down on subscription sharing and pushing viewers toward its ad-tier membership, has made few attempts at live programming in its history. With WWE permission, Netflix could even develop movies or series around WWE characters, one of the people said. For TKO, the parent company of WWE, striking a deal with Netflix brings WWE wrestling to about 250 million global subscribers. WWE President Nick Khan has had Netflix on his radar as a potential landing spot for Raw for several years.

Persons: Dwayne Johnson, Mark Shapiro, Rupert Murdoch, Nick Khan, Khan Organizations: Netflix, Raw, WWE, SmackDown, NXT, USA Network, ESPN, Turner, NFL, Fox Locations: U.S, Canada, America

☆ Goldman says this solar tech stock can surge nearly 50%
▼ + stars: | 2024-01-16 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +2 min

The investment bank initiated coverage of the solar technology company with a buy rating, simultaneously setting a 12-month price target of $62. Nextracker is the world's largest supplier of solar trackers, devices that optimize solar panels by tracking the sun's path. The company's shares have fallen nearly 10% in 2024 after Nextracker completed its spinoff from Flex on Jan. 2. "We note that the value of the credits [for solar trackers] are actually among the most lucrative across all solar components," wrote Goldman Sachs analyst Brian Lee. "The [total addressable market] for solar trackers globally amounts to approximately close to 5X the size of the U.S. market, with a penetration of ~20%-30% (vs. ~80% in the U.S.)."

Persons: Goldman Sachs, Nextracker, Goldman, Brian Lee, Lee, — CNBC's Michael Bloom Organizations: Nextracker, Flex, NXT Locations: U.S

☆ ASML blocked from shipping some of its critical chipmaking tools to China
▼ + stars: | 2024-01-02 | by ( Arjun Kharpal | ) www.cnbc.com time to read: +2 min

ASML sells lithography machines that are a key part of the chip manufacturing process. The NXT:2050i and NXT:2100i, which are caught up in the Dutch government's latest export curbs, are DUV lithography machines. The revocation of the shipping license comes after the U.S. government tightened export controls on advanced semiconductors and chipmaking tools to China in October, building on previous rules. ASML said it does not expect the revocation of its export license of U.S. export controls "to have a material impact on our financial outlook for 2023." The company has previously said it expects fourth-quarter net sales of between 6.7 billion euros and 7.1 billion euros ($7.34 billion and 7.78 billion).

Persons: ASML Organizations: Apple, NXT, U.S, U.S ., Dutch Ministry of Foreign Affairs, CNBC Locations: U.S, Veldhoven, Netherlands, China, Dutch

☆ ASML forced to suspend some China exports after US escalates tech battle
▼ + stars: | 2024-01-02 | by ( Diksha Madhok | ) edition.cnn.com time to read: +2 min

Editor’s Note: Sign up for CNN’s Meanwhile in China newsletter, which explores what you need to know about the country’s rise and how it impacts the world. CNN —ASML has been ordered by the Dutch government to restrict shipment of some of its chip-making equipment to China, the company said on Monday. For several years, the Dutch government has faced pressure from the United States to limit chip-related exports to China. ASML said when the rules were updated that due to “the length and complexity of the regulations, ASML will need to carefully assess any potential implications.”The updated export restrictions would affect between 10% and 15% of the firm’s sales to China, ASML Chief Executive Peter Wennink said during an earnings call in October. China reacted on Tuesday, by calling the US curbs “hegemonic” and “bullying.”These actions will “undermine the global semiconductor landscape,” Foreign Ministry spokesperson Wang Wenbin said.

Persons: CNN — ASML, ASML, Biden, Peter Wennink, ” ASML, Wang Wenbin Organizations: CNN, United, NXT, ASML, Foreign Locations: China, United States, Veldhoven, Netherlands

☆ UK retail sales slide again in October in new blow for economy
▼ + stars: | 2023-11-17 | by ( Andy Bruce | ) www.reuters.com time to read: +2 min

REUTERS/Phil Noble/File Photo Acquire Licensing RightsLONDON, Nov 17 (Reuters) - British retail sales volumes fell unexpectedly in October as stretched consumers stayed at home, official data showed on Friday in a new warning sign for the economy. Retail sales volumes dropped 0.3% month-on-month, following a revised 1.1% decline in September that was worse than first estimated, the Office for National Statistics said. Economists polled by Reuters had forecast that sales volumes would rise by 0.3% on the month in October. Overall the figures fitted with the darkening outlook for Britain's economy, with economic growth stagnant and strong price pressures now fading, albeit slowly. The figures also showed a small downward revision in retail sales for the third quarter.

Persons: Phil Noble, Spencer, James Davey, William James Our Organizations: Shoppers, REUTERS, National Statistics, Reuters, Investors, Bank of England, Retailers, Britain, Tesco, Thomson Locations: Altrincham, Britain

☆ At their annual mega-party, real estate agents on edge over the potential erosion of their commissions
▼ + stars: | 2023-11-16 | by ( Anna Bahney | Samantha Delouya | ) edition.cnn.com time to read: +10 min

Courtesy National Association of RealtorsKasper echoed those sentiments in a keynote address to agents at the convention on Tuesday, telling agents: “We will continue to listen closely to your feedback. Real estate agents generate about $100 billion in commissions a year, according to the Department of Justice. And about half of that, plaintiffs in the recent case argue, goes to buyers’ agents. Visitors at the National Association of Realtors convention on November 14 in Anaheim, California. She said that buyers’ agreements may have to have wording that says that if a seller doesn’t agree to pay the buyer’s agent commission, the buyer is on the hook for that money.

Persons: Keller Williams, Tracy Kasper, Berkshire Hathaway, Silverhawk, ”, ” Tracy Kasper, National Association of Realtors Kasper, Renée Roqué, Alexis McGee, “, Liu Guanguan, John Natale, Natale isn’t, Lynn Madison, Madison, Chuck Simons, “ It’s, Matt Troiani, Troiani, it’s, ” Troiani, ” ‘, Jim Flanagan, Flanagan, isn’t, Nate Johnson, haven’t, Johnson Organizations: California CNN, National Association of Realtors, NAR, of Justice, NXT, Department of Justice, China News Service, Social Media, Realtors, Coldwell, RedKey Realty Locations: Anaheim, California, Missouri, America, Texas, Berkshire, Boise , Idaho, Stevenson Ranch , California, San Mateo County , California, New Jersey, Anaheim , California, Illinois, Valencia , California, Ocean County , New Jersey, Flanagan’s, St, Louis , Missouri

☆ M&S echoes UK peers on early Christmas demand, Ahold looks to loyalty
▼ + stars: | 2023-11-08 | by ( James Davey | ) www.reuters.com time to read: +3 min

[1/2] A logo of food and clothes' retailer Marks and Spencer (M&S) is seen at a branch in London, Britain March 10, 2022. "We are definitely seeing good sales performance in our Christmas ranges," CEO Stuart Machin told reporters after M&S reported much better-than-expected first half results. BIGGER FAMILY CHRISTMASM&S's Machin said research showed about 20% of its customers wanted to stock up on Christmas food products "slightly earlier" this year, with most of those customers planning for a bigger family Christmas. Still, the retail bosses are hopeful of strong demand for food, drinks and presents from now until the end of December. Reporting by James Davey; Editing by Sarah Young, Kate Holton and Emelia Sithole-MatariseOur Standards: The Thomson Reuters Trust Principles.

Persons: Marks, Spencer, Toby Melville, Ahold, Stuart Machin, S's Machin, I'm, Machin, James Davey, Sarah Young, Kate Holton, Emelia Organizations: REUTERS, Major, British Retail Consortium, Marks, Tesco, Accenture, Deloitte, PwC, Thomson Locations: London, Britain, Europe, United States

☆ Here are the top 5 ‘best in class’ stocks coming out of earnings, Bank of America says
▼ + stars: | 2023-11-04 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Analysts at Bank of America unveiled a slew of stocks this week that they say are firing on all cylinders as earnings season wraps up. "SLB looks best positioned for strong earnings growth and multiple expansion with strengthening [free cash flow] in 2024-25," Pant wrote. SLB - buy rating "Current cycle is to SLB's advantages in technology & INTL. KLA Corporation - buy rating Resilient growth, best in class cash flow generation, reiterate Buy. Nextracker - buy rating Three earnings post IPO comes with three sequential beat & raise events & we believe there is room for several more.

Persons: Saurabh Pant, Pant, Julien Dumoulin, Smith, Nextracker, Vivek Arya, Arya, SLB Organizations: Bank of America, CNBC, General Dynamics, Ford, KLA Corporation, drillers, NXT, KLA Corp, Dynamics, Aero Locations: Nextracker, Pant

☆ Higher rates are killing the clean energy stocks — BofA says these are worth buying
▼ + stars: | 2023-10-05 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

There's still value to be found among renewable energy stocks despite a rout, according to Bank of America. Leading renewable stock NextEra Energy Partners trimmed its growth forecast earlier this week, sparking a sell-off in the cleantech sector that has lasted for several days. Its stock tumbled about 27% so far this week, while its parent NextEra Energy is down 15% during the same period. BofA analyst Julien Dumoulin-Smith said the event has caused a "collapse in confidence" in NextEra and stoked fears that higher rates will dampen demand for renewable energy projects. ConEd stock has slipped about 12% from the start of the year, while shares of Array are down nearly 2%.

Persons: Julien Dumoulin, Smith, BofA, ConEd, — CNBC's Michael Bloom Organizations: Bank of America, Energy Partners, Energy, PPA, Utilities, NextEra Energy, Technologies, Consolidated Edison, NXT, ConEd Locations: NextEra, Dumoulin

☆ Here are Wednesday's biggest analyst calls: Meta, Tesla, Nvidia, Apple, Sunrun, Alphabet, Snowflake & more
▼ + stars: | 2023-10-04 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

UBS initiates Fiverr as buy UBS said the Israeli online marketplace company has "significant upside." UBS upgrades Fluor to buy from hold UBS said the construction and engineering stock is underappreciated. Bank of America upgrades Orange to buy from underperform Bank of America double upgraded the European telco company and says it has upside potential. Bank of America reiterates Blackrock as buy Bank of America said the asset management company is well positioned. Mizuho reiterates Nvidia as buy Mizuho added the stock to its top picks list and says it's an AI winner.

Persons: Morgan Stanley, Tesla, it's, underappreciate FLR, TD Cowen, Key, Goldman Sachs, Goldman, Oppenheimer, Mizuho, Coinbase, Bernstein, PTON Organizations: US, UBS, Americas Corp, Bank of America, underperform Bank of America, Tech, of America, Apple, JPMorgan, Netflix, ARM, " Bank of America, Blackrock, Nvidia, Mizuho, NOVA Locations: Argentina, Argentine, Orange, 3Q23, 4Q23

☆ UK retailers demand government action on rising crime
▼ + stars: | 2023-09-30 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Peter Nicholls/File Photo Acquire Licensing RightsLONDON, Oct 1 (Reuters) - Some 88 UK retail leaders, including the bosses of Tesco (TSCO.L), Sainsbury's (SBRY.L) and Marks & Spencer (MKS.L), have signed a letter to interior minister Suella Braverman, demanding action over rising rates of retail crime. Rising crime is increasingly becoming a political issue in Britain ahead of an expected national election in 2024. It also put the scale of retail theft at 953 million pounds ($1.2 billion), despite over 700 million pounds in crime prevention spending by retailers. This would require police forces to record all incidents of retail crime. The industry also wants greater prioritisation of retail crime by police forces across the UK.

Persons: Peter Nicholls, Spencer, Suella Braverman, “, Helen Dickinson, John Lewis, James Davey, Alison Williams Organizations: REUTERS, Tesco, Industry, British Retail Consortium, Conservative, John, John Lewis Partnership, Waitrose, Aldi, Thomson Locations: Weybridge, Britain, Manchester

In the past year, clothing retailers have sought to clear excess stock that had piled up due to a shift in consumer demand to essentials from discretionary items like clothing. But with fourth-quarter temperatures expected to start off warm, according to weather tracking firm Weather Trends International, stores carrying winter styles and gear could find themselves loaded with inventory at the end of the season. European company Pepco Group (PCOP.WA) also noted that the landing of its autumn and winter clothing inventory had coincided with persistent record-warm weather in its core Central and Eastern European markets. In the United States, temperatures could rise by 2 to 12 degrees Fahrenheit on average in the October-December period compared with last year, according to Weather Trends International. Abercrombie & Fitch (ANF.N) also said there was strong demand for "seasonless products" in the second quarter, particularly in the men's category, as customers picked out year-round clothing items and styles.

Persons: Helena Helmersson, Andy Bond, Bill Kirk, Clodagh, David Swartz, Robert Woods, Kristen D'Arcy, Abercrombie, Simon Wolfson, Ananya Mariam Rajesh, James Davey, Helen Reid, Matthew Lewis Organizations: Reuters, Pepco, Amazon.com, REUTERS, Walmart, Dick's Sporting, Costco Wholesale, Morningstar Research, Vision Brands, Fitch, Thomson Locations: United States, Europe, Cos, Eastern, Grafton, Dublin, Ireland, outerwear, Bengaluru, London

☆ British retail sales grow in August after washout in July
▼ + stars: | 2023-09-22 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Phil Noble/File Photo Acquire Licensing RightsLONDON, Sept 22 (Reuters) - British retail sales partially recovered in August after a rainy July washout, official figures showed on Friday, adding to signs that the country's consumers were mostly coping with the cost-of-living squeeze. Sales volumes rose by 0.4% on a month-on-month basis after a sharp 1.1% fall in July, the Office for National Statistics said. "These were partially offset by internet sales, which dropped slightly as some people returned to shopping in person following a very wet July. However, August's data represented the sixth time so far in 2023 that sales volumes rose on a month-to-month basis, suggesting resilience in consumer demand. Retail sales volumes were 1.4% lower than a year earlier, the ONS said, compared with economists' forecasts for a 1.2% decline.

Persons: Phil Noble, Heather Bovill, GfK, BoE, William Schomberg, James Davey, William James, Christina Fincher Organizations: REUTERS, National Statistics, Reuters, Office, Bank of England, British Foods, Thomson Locations: Altrincham, Britain

☆ WWE to bring back 'SmackDown' to NBCUniversal's USA Network
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +1 min

Apr 2, 2023; Inglewood, CA, USA; L to R; Solo Sikoa and Roman Reigns and Paul Heyman and during Wrestlemania Night 2 at SoFi Stadium. Mandatory Credit: Joe Camporeale-USA TODAY Sports/File Photo Acquire Licensing RightsSept 21 (Reuters) - WWE's "Friday Night SmackDown" will be back on USA Network late next year, after the wrestling company struck a new partnership deal with Comcast's (CMCSA.O) NBCUniversal to air more shows. WWE, part of TKO Group (TKO.N), will also produce four primetime specials per year for NBC as part of the five-year deal. "With Friday nights on USA, primetime specials on NBC, and the WWE hub on Peacock, we'll continue to use the power of our portfolio to super-serve this passionate fanbase," NBCUniversal Entertainment Chairman Frances Berwick said. USA Network is currently home to "WWE NXT" and "WWE Raw".

Persons: Sikoa, Paul Heyman, Joe Camporeale, we'll, Frances Berwick, Samrhitha, Saumyadeb Chakrabarty, Anil D'Silva Organizations: USA Network, WWE, NBC, Thomson Locations: Inglewood , CA, USA, SoFi, Bengaluru

☆ UK stocks open lower after Fed's hawkish stance; BoE on watch
▼ + stars: | 2023-09-21 | by ( ) www.reuters.com time to read: +2 min

The London Stock Exchange Group offices are seen in the City of London, Britain, December 29, 2017. The blue-chip FTSE 100 index (.FTSE) was down 0.5% by 0710 GMT, while mid-cap stocks (.FTMC) dipped 0.4%. The Fed held its interest rates steady on Wednesday, but stiffened a hawkish monetary policy stance that its officials increasingly believe can succeed in combating inflation. Asian stocks tracked the lacklustre mood in U.S. peers on Wednesday after the Fed revised its economic projections. JD Sports Fashion (JD.L) climbed nearly 6% to the top of FTSE 100 after the sportswear retailer forecast a higher annual profit.

Persons: Toby Melville, BoE, Siddarth, Sherry Jacob, Phillips Organizations: London Stock Exchange Group, City of, REUTERS, Treasury, Federal Reserve, Bank of, Fed, Bank of England, Thomson Locations: City, City of London, Britain, London, Bengaluru

☆ Citadel is rebuilding a core tech platform to transform how the hedge fund uses data. 2 tech leaders take us inside the multi-year project.
▼ + stars: | 2023-08-22 | by ( Bianca Chan | ) www.businessinsider.com time to read: +6 min

Citadel is completely rebuilding a new platform for all of the hedge fund's reference data. The platform is currently being rolled out and will let the fund move into new asset classes faster. Now, the migration to a new reference-data platform is underway. With the new solution, Citadel says, it will be able to move into new asset classes much faster. With the new platform, Citadel can respond when new asset classes come into the market.

Persons: Rituraj Deb Nath, Deb Nath, Robert Tan, Tan, It's, Goldman Sachs, There's Organizations: Citadel, Citadel Securities, Google, Bank of America

Official data showed sales volumes last month were 1.2% lower than in June. Food stores sales volumes fell by a monthly 2.6% while non-food stores sales volumes fell by 1.7%. However, July's data represented only the second time that sales volumes fell on a month-to-month basis so far in 2023, suggesting resilience in consumer demand. Market research firm GfK reported last month that consumer confidence fell in July for the first time since January. Retail sales volumes were 3.2% lower than a year earlier, the ONS said, compared with economists' forecasts for a 2.1% decline.

Persons: Sterling, Heather Bovill, Ruth Gregory, GfK, Samuel Tombs, BoE, Tombs, Spencer, James Davey, Kate Holton, Susan Fenton Organizations: Reuters, Office, National Statistics, Department, Bank of England, Capital Economics, Macroeconomics, Thomson

☆ Britain's M&S raises profit outlook after strong trading
▼ + stars: | 2023-08-15 | by ( James Davey | ) www.reuters.com time to read: +3 min

[1/2] A Marks and Spencer logo is seen on an advertisement outside of a store in London, Britain, May 23, 2018. The 139-year old group, whose shares have risen 66% so far this year, said it now expected profit growth in its full 2023-24 year, having previously forecast a small decline. Clothing group Next (NXT.L) upgraded its profit forecast earlier this month, lifting it for the second time in three months. M&S said in the first 19 weeks of the year like-for-like food sales grew over 11%, while clothing & home sales were up over 6% on the same basis. Clive Black at Shore Capital, the house broker, said sentiment around M&S had taken a long time to improve after other turnarounds failed to materialise, but he lifted his profit outlook by 9%.

Persons: Marks, Spencer, Toby Melville, Stuart Machin, Clive Black, James Davey, Yadarisa, Rashmi Aich, Kate Holton, David Evans Organizations: REUTERS, Marks, Shore Capital, Thomson Locations: London, Britain, Bengaluru

☆ Ken Griffin's Citadel is rebuilding one of its most critical platforms. Here's an inside look at the project.
▼ + stars: | 2023-07-06 | by ( Bianca Chan | ) www.businessinsider.com time to read: +6 min

The platform is currently being rolled out and will let the fund move into new asset classes faster. Now, the migration to a new reference-data platform is underway. With the new solution, Citadel says, it will be able to move into new asset classes much faster. With the new platform, Citadel can respond when new asset classes come into the market, like cryptocurrencies or collectibles. "It's critical for our systems to accommodate growth in various asset classes and support the ever-increasing crossover between them," Tan said.

Persons: Rituraj Deb Nath, Deb Nath, Robert Tan, Tan, It's, Goldman Sachs, There's Organizations: Citadel, Citadel Securities, Google, Bank of America

☆ Exclusive: US, Dutch set to hit China's chipmakers with one-two punch
▼ + stars: | 2023-06-29 | by ( Karen Freifeld | ) www.reuters.com time to read: +4 min

ASML said in March it expects the Dutch regulations to affect its TWINSCAN NXT:2000i and more sophisticated models. But the company's older DUV models, like one called the TWINSCAN NXT:1980Di, could also be kept from about six Chinese facilities by the U.S. The new Dutch regulations will not take effect immediately, sources said, with one person expecting the effective date to be September, two months after publication. ASML is Europe's largest chip equipment company due to its dominance in lithography, one of the central steps in the computer chip making process. Other companies that could be impacted by the new Dutch rules include atomic layer deposition firm ASM International.

Persons: Liu Pengyu, ASML, Karen Freifeld, Toby Sterling, Anna Driver, Stephen Coates Organizations: . Commerce Department, Lam Research, Materials, Embassy, Nikon Corp, Tokyo Electron, U.S, SMIC, International, Thomson Locations: United States, Netherlands, U.S, China, Washington, Japan, ASML'S, Almere, Amsterdam

☆ U.S., Dutch set to hit China's chipmakers with one-two punch
▼ + stars: | 2023-06-29 | by ( ) www.cnbc.com time to read: +4 min

Japan, home to chip equipment makers Nikon and Tokyo Electron , has since adopted rules to restrict exports of 23 types of semiconductor manufacturing equipment that will take effect July 23. ASML said in March it expects the Dutch regulations to affect its TWINSCAN NXT:2000i and more sophisticated models. But the company's older DUV models, like one called the TWINSCAN NXT:1980Di, could also be kept from about six Chinese facilities by the U.S. The new Dutch regulations will not take effect immediately, sources said, with one person expecting the effective date to be September, two months after publication. ASML is Europe's largest chip equipment company due to its dominance in lithography, one of the central steps in the computer chip making process.

Persons: Mark Rutte, Joe Biden, Liu Pengyu, ASML Organizations: . Commerce Department, Lam Research, Materials, Embassy, Nikon, Tokyo, U.S, SMIC, International Locations: Netherlands, U.S, China, United States, Washington, Japan, ASML'S, Almere

☆ Ending the retailers’ crisis has a high price tag
▼ + stars: | 2023-05-02 | by ( Aimee Donnellan | ) www.reuters.com time to read: +5 min

BARCELONA, May 2 (Reuters Breakingviews) - High-street retailers are facing a heavy bill to weather the cost-of-living crisis. The cost of heating stores and staff requests for pay rises are squeezing operating margins at top players like H&M (HMb.ST) and Next (NXT.L). Shrinking disposable income is making it hard for these retailers to boost sales to protect margins. Most bricks-and-mortar retailers trade on higher multiples than they did before the war in Ukraine sparked soaring inflation. But that leaves a squeezed middle of retailers like H&M exposed to the brunt of the retail crisis.

Despite a rebound in fundraising and block trading activity, year-to-date IPO volumes came in at their lowest level since 2019. Equity capital markets (ECM) advisers, however, are optimistic of a recovery in listing activity in the latter part of the year. In the United States, IPO volumes jumped more than 50% from the fourth quarter of 2022, but were still 11% down from the same period last year. IPOs briefly flickered back to life in February, as companies including solar tech firm Nextracker (NXT.O) and Chinese sensor maker Hesai Group (HSAI.O) pushed ahead with their listings. RECOVERY DELAYEDIn Europe, investment bankers said the market volatility spurred by the banking crisis is likely to affect the pipeline of deals.

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