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☆ Retailers like Peloton and Saks keep paying vendors late, signaling possible 'financial distress'
▼ + stars: | 2024-04-04 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +13 min

To be sure, late payments don't always signal financial troubles. Creditsafe spokesperson Ragini Bhalla said payment data is only one factor the firm considers when assessing a company's financial health. Though the data "doesn't represent a company's total trading behavior, analysis has proven that it is hugely predictive of a company's financial health and creditworthiness," Bhalla said. "When the number of late payments increases like this, it's often indicative of financial challenges and poor cash flow forecasting," Creditsafe said. While Saks often made late payments last year, its on-time payments have dropped significantly since October 2023, the firm said.

Persons: Saul Loeb, Perry Mandarino, Mandarino, Creditsafe, Ragini Bhalla, Bhalla, Barry McCarthy, Simeon Siegel, Siegel, he's, Peloton's DPO, Marc Metrick, Metrick, Mark Still, Stewart Glendinning, Tim Baxter Organizations: Saks, Washington , D.C, AFP, Getty, Bed, RadioShack, CNBC, Retailers, Body, Body Works, Riley Securities, BMO Capital Markets, Business of Fashion, HBC, Express, Street, Creditsafe, Economic Security, IRS, New York Stock Exchange, Bath Locations: Washington ,, Express, Creditsafe, U.S

☆ Four reasons Walmart wants to buy smart TV maker Vizio
▼ + stars: | 2024-02-27 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +6 min

The retail giant announced last week that it plans to buy smart TV maker Vizio in a $2.3 billion deal. Here's a closer look at the major reasons Walmart wants to buy Vizio . Walmart can capitalize on Vizio's reachWhen shoppers think of Vizio, they likely envision store aisles filled with giant TVs. Walmart's in-house TV brand, Onn, currently has a licensing deal with smart TV competitor Roku . Plus, Walmart sees how much money its competitor, Amazon , makes from advertising — and wants to run the same play.

Persons: Joe Raedle, It's, Corey Tarlowe, Dan Day, Jefferies, Tarlowe, SmartCast, Kirby Grines, Vizio, Grines, Michael Morton, you've, That's, Morton Organizations: Walmart, Getty, Jefferies, Netflix, Hulu, Amazon, Riley Securities, Roku Locations: Hallandale Beach , Florida, Irvine , California, MoffettNathanson

UBS hiked its price target on Nvidia , citing an attractive valuation and strong demand for its chips. The firm upgraded shares to overweight from neutral and upped its target price by $17 to $68, which implies 24.3% potential upside. He upgraded shares to buy from neutral and increased his price target from £17 to £21. — Pia Singh 5:47 a.m.: UBS hikes Nvidia price target UBS is getting even more bullish on Nvidia ahead of the chipmaker's fiscal fourth-quarter earnings report. Despite the price target increase, Nvidia shares were down 1% in the premarket.

Persons: Riley Securities downgrades, Jeff Lick, Children's, Lick, — Pia Singh, Piper Sandler, Trimble, Clarke Jeffries, Mark Palmer, Palmer, Andrew Baum, Baum, GSK's, Timothy Arcuri, Arcuri, NVDA, Fred Imbert Organizations: CNBC, UBS, Nvidia, Citi, GSK, Riley Securities, Children's, Investment, Block Locations: Lick, Monday's, C2H

☆ Wall Street is barreling toward a big week ahead with megacap earnings, Fed meeting in focus
▼ + stars: | 2024-01-26 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

Wall Street is headed into the thick of earnings season, with results on deck from the bulk of the so-called Magnificent Seven names. On top of that, the Federal Reserve's latest monetary policy decision and the January jobs report will be in focus. Federal Reserve meeting Investors aren't anticipating much out of the Fed meeting next week. Market participants say recent reports show the trends have been going in the right direction, and Friday's report is expected to confirm the softening in the jobs market. Other significant earnings in the week ahead include Boeing , a major Dow component.

Persons: Russell, we've, Shannon Saccocia, Jonathan Krinsky, Tesla, that'll, Hogan, you've, John Bailer, Jerome Powell, Tony Welch, Welch, FactSet Organizations: Microsoft, Nvidia, Dow Jones Industrial, Nasdaq, Dow, JPMorgan, Riley Securities, Newton Investment Management, Fed, PCE, Boeing, Alaska Airlines, Dallas, Whirlpool, Petroleum, United Parcel Service, General Motors, Pfizer, Devices, ADP, ECI Civilian Workers, Chicago PMI, Mastercard, Qualcomm, Labor, PMI, Manufacturing, Apple, Chevron, Exxon Mobil Locations: Thursday's, nonfarm payrolls, Chicago, Royal Caribbean, Michigan

☆ Stocks making the biggest moves after hours: Discover, Alcoa, Talos Energy and more
▼ + stars: | 2024-01-17 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Discover Financial Services — Shares dropped nearly 7% after Discover Financial Services reported fourth-quarter results. The financial services company reported quarterly revenue of $4.20 billion that topped estimates of $4.10 billion, according to analysts polled by LSEG. Alcoa — Shares dropped nearly 3% after the aluminum producer reported fourth-quarter results. Alcoa posted a narrower-than-expected adjusted loss of 56 cents per share, compared to an expected loss of 86 cents per share, according to analysts polled by LSEG. Talos Energy — Shares of the oil and gas company dropped 5% after Talos Energy issued fourth-quarter revenue guidance in the range of $380 million to $395 million, compared to the $393.5 million expected by analysts polled by FactSet.

Persons: Fuller — H.B, Fuller Organizations: Discover Financial, Discover Financial Services, LSEG, Alcoa —, Alcoa, Talos Energy, FactSet, QuarterNorth Energy, Riley Securities Locations: LSEG .

☆ Novavax's updated Covid vaccine can still catch up to Pfizer, Moderna shots this fall
▼ + stars: | 2023-10-07 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +6 min

The biotech company is banking on sales of its updated Covid vaccine — its only commercially available product — and a broad cost-cutting push to help it stay afloat. Novavax's shot fends off the virus with protein-based technology, a decades-old method used in routine vaccinations against hepatitis B and shingles. The federal government shifted Covid vaccine distribution and coverage to the private market for the first time this fall. A sign advertises COVID-19 (coronavirus) vaccine shots at a Walgreens Pharmacy in Somerville, Massachusetts, August 14, 2023. Some pharmacies, like Walgreens , also appear to be resolving supply disruptions, which left many stores without any new Covid shots for patients to receive.

Persons: Patrick Van Katwijk, Novavax, aren't, Mayank Mamtani, fends, Silvia Taylor, Taylor, Novavax's, Mamtani, Hannah Beier, Jefferies, Roger Song, Brian Snyder, Biden Organizations: Dutch Health Service Organization, Getty, Pfizer, Moderna, Drug Administration, Riley Securities, CNBC, Covid, FDA, Bloomberg, Insurance, Walgreens, Reuters Locations: The Hague, Netherlands, U.S, Schwenksville , Pennsylvania, Somerville , Massachusetts

☆ Movie theater shares pop after writers, studios reach tentative labor deal
▼ + stars: | 2023-09-25 | by ( Drew Richardson | ) www.cnbc.com time to read: +3 min

Movie theater shares popped Monday following news of a tentative labor deal between the Writers Guild of America and the Alliance of Motion Picture and Television Producers. Extremely good news that progress is being made," AMC CEO Adam Aron said Sunday in a post on X, the site formerly known as Twitter. Shares of AMC were up roughly 7% Monday. The Screen Actors Guild – American Federation of Television and Radio Artists is still on strike after failure to reach a labor agreement with AMPTP. The summer season saw a 19% year-over-year increase, due in large part to the success of "Barbie" and "Oppenheimer."

Persons: Adam Aron, it's, Kraven, Hunter, Oppenheimer, Eric Wold, AFTRA, — CNBC's Sarah Whitten Organizations: AMC, Regal Cinemas, Writers Guild of America, Alliance, Television Producers, Twitter, Disney, Comcast, Warner Bros, Discovery, Hollywood, – American Federation of Television, Radio Artists, AMPTP, SAG, Riley Securities, WGA, Netflix, CNBC Locations: Square , New York, NBCUniversal

☆ AMC shares slide 20% after theater chain announces plan to sell additional stock
▼ + stars: | 2023-09-06 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Shares of AMC Entertainment fell sharply in early trading Wednesday after the theater chain said in a filing that it plans to sell up to 40 million new shares to raise cash. AMC was widely expected to sell additional shares after the successful conversion of the preferred APE shares into AMC common stock in August. The theater chain sold millions of shares of common stock in recent years after becoming one of the so-called meme stocks popular with retail traders. The company issued the preferred APE shares as part of a strategy to change its corporate voting structure and get shareholder approval to sell additional common stock. AMC said in the filing Wednesday that it will sell the new shares through "at-the-market" offerings, without a specific time frame.

Persons: Goldman Sachs, Taylor Swift Organizations: AMC Entertainment, AMC, Citigroup, Barclays, Riley Securities Locations: U.S, Hollywood

☆ Buy this chip stock to ride a 'wave of AI-led growth,' according to B. Riley Securities
▼ + stars: | 2023-08-18 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Marvell Technology could win big in the next "wave of AI-led growth," according to B. Riley Securities. Analyst Craig Ellis upgraded shares to a buy from neutral rating as enterprise spending reaccelerates and inventory-related headwinds begin to ease. Shares of Marvell are up more than 55% this year as investors buy into the AI trade, and more gains could come. To be sure, some headwinds loom ahead in what B. Riley views as a "still-volatile market." This includes potentially weak server and storage spending within enterprise markets despite some signs of moderation, Ellis said.

Persons: Craig Ellis, Ellis, Riley, — CNBC's Michael Bloom Organizations: Marvell Technology, Riley Securities, Marvell

☆ Here are Friday's biggest analyst calls: CVS, Hawaiian Electric, Peloton, Aflac and more
▼ + stars: | 2023-08-18 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Here are Friday's biggest calls on Wall Street: Edward Jones downgrades CVS to hold from buy Edward Jones expressed concern over the company losing part of its Blue Shield of California pharmacy benefit manager contract. TD Cowen initiates Dynatrace at outperform TD Cowen said checks were strong and there's reasons to be excited about the tech company. TD Cowen initiates Datadog at outperform TD Cowen said the software company has strong management and ways to differentiate itself from competitors. Bank of America reiterates Peloton as buy Bank of America kept its bullish rating ahead of the fitness stock's earnings report. Morgan Stanley downgrades Aflac to equal weight from overweight Morgan Stanley said the insurance stock's strong earnings and capital have been hampered by challenges within sales and persistence.

Persons: Edward Jones, TD Cowen, Cowen, Wells, Wells Fargo, Morgan Stanley downgrades Aflac, Morgan Stanley, Riley, there's Organizations: CVS, JPMorgan, Bank of America, Barclays downgrades Keysight Technologies, Barclays, Citi, Materials, Riley Securities, Marvell Technology, MRVL Locations: California

☆ Covid vaccine maker Novavax sees a pathway to survival – but it won’t be easy
▼ + stars: | 2023-06-14 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +10 min

Jakub Porzycki | NurPhoto | Getty ImagesNovavax has a clear message for Wall Street: The cash-strapped Covid vaccine maker sees a pathway to survival. The 36-year-old company will continue to rely on its protein-based Covid vaccine – its only commercially available product – for most of its revenue this year. Once the U.S. government's supply of free Covid vaccines runs out, all three companies will sell updated shots directly to health-care providers. A health worker prepares a dose of the Novavax vaccine as the Dutch Health Service Organization starts with the Novavax vaccination program on March 21, 2022 in The Hague, Netherlands. But Taylor emphasized that the plan will help Novavax refocus on its top priority: delivering an updated vaccine in the coming months.

Persons: Jakub Porzycki, Novavax, Covid, Cowen, Brendan Smith, John Jacobs, Smith, that's, Silvia Taylor, Taylor, Jefferies, Roger Song, Patrick Van Katwijk, Mayank Mamtani, let's, Mamtani, Let's, Song, Ding Genhou Organizations: NurPhoto, Getty, Pfizer, Moderna, CNBC, Food and Drug Administration, World Health Organization, FDA, Dutch Health Service Organization, Riley Securities, U.S, Centers for Disease Control, CDC, Reuters, Visual China Locations: Krakow, Poland, Maryland, U.S, The Hague, Netherlands, Moderna, Geneva, Hohhot, Inner Mongolia Autonomous Region, China

☆ Stocks making the biggest moves midday: Apple, Tesla, Netflix, Bed Bath & Beyond & more
▼ + stars: | 2023-04-13 | by ( Brian Evans | ) www.cnbc.com time to read: +3 min

The Wall Street firm anticipates U.S. retail sales could be down close to 20%. The Wall Street firm said growth in the drugs has "significantly outperformed" its expectations. Alibaba — Shares of the Chinese e-commerce giant rose 2%, rebounding from a near 6% selloff in the previous session. Chipotle — Shares rose 1% after Citi said it was optimistic about the restaurant chain's earnings report later this month. They will look for insight on whether Tesla is planning more price cuts on key models such as the Model 3 and Model Y.

The company — which has its COVID-19 vaccine as the only marketed product after 35 years in business — on Tuesday flagged significant uncertainty around its 2023 revenue, funding from the U.S. government, and pending arbitration with global vaccine alliance Gavi. Syringes with needles are seen in front of a displayed Novavax logo in this illustration taken, November 27, 2021. Novavax faces near-term risks as protein-based vaccines take longer to produce than mRNA-based competitors, Novavax CEO John Jacobs has said. "While there is the potential for a substantial booster market ... we don't expect Novavax to be a major player in the booster opportunity." As of last close, Novavax's U.S.-listed shares were down 97% from their February 2021 record high of $331.68.

The stock had dropped 26.2% to $6.83 around 8:55 ET (13:55 GMT), while its Frankfurt-listed shares slumped more than 27%. The company - whose COVID vaccine is its only marketed product after 35 years in business - on Tuesday flagged significant uncertainty around its 2023 revenue, funding from the U.S. government, and pending arbitration with global vaccine alliance Gavi. Syringes with needles are seen in front of a displayed Novavax logo in this illustration taken, November 27, 2021. Novavax faces near-term risks as protein-based vaccines take longer to produce than mRNA-based competitors, Novavax CEO John Jacobs has said. As of last close, Novavax's U.S.-listed shares are down 97% from their February 2021 record high of $331.68.

☆ Movie theaters get creative with food and drink as they struggle to fill seats
▼ + stars: | 2023-02-08 | by ( Noah Sheidlower | ) www.cnbc.com time to read: +9 min

At many movie theaters, popcorn and soda appear alongside flatbreads, lobster grilled cheese and elaborate cocktails. "It is things like concessions and how that fits into a broader movie theater experience that really are things that movie theaters need to focus on and hammer in," Gallinari said. AMC Entertainment , the world's largest movie theater chain, exited its third quarter with more than $5.3 billion in debt. According to data from research firm EntTelligence, the average medium popcorn at domestic movie theaters is $8.14, while a medium drink runs for $6.20. "With movie theaters and concessions already having a reputation for being overpriced, being subject to the wills of the market in that way can really work against the movie theater's favor," Gallinari said.

Bed Bath said it was planning to raise just over $1 billion through sales of preferred stock and warrants and from securities when the warrants are exercised. Bed Bath will receive a waiver on its recent bank default should the proposed offering succeed, the company said. Bed Bath & Beyond also appointed Holly Etlin, a bankruptcy expert, as interim chief financial officer. "It’s a similar situation in which a deeply financially distressed company is attempting to sell securities," said Lynn LoPucki, a professor at the University of Florida. Sources have told Reuters that Bed Bath & Beyond has lined up liquidators to close additional stores unless a last-minute buyer emerges.

☆ Bed Bath & Beyond lines up funding in a last-ditch bid to avoid bankruptcy
▼ + stars: | 2023-02-07 | by ( Gabrielle Fonrouge | ) www.cnbc.com time to read: +2 min

A Bed Bath & Beyond store in the Brooklyn borough of New York, US, on Monday, Feb. 6, 2023. Bed Bath & Beyond will live to see another day – at least for now. Bed Bath will receive $225 million in the offering up front plus an additional $800 million in proceeds over time, the company said. Whatever's left over will be used to aid Bed Bath's attempt at a turnaround, the company said. The efforts have evidently failed thus far, forcing Bed Bath to go to the public markets for funding.

☆ Bed Bath & Beyond moves to raise $1 billion to avoid bankruptcy
▼ + stars: | 2023-02-06 | by ( ) edition.cnn.com time to read: +3 min

Bed Bath & Beyond said on Monday it was planning to raise some $1 billion through an offering of preferred stock and warrants in a last-ditch effort to stave off bankruptcy. Bed, Bath & Beyond held talks in recent days with an investment firm to underwrite a significant portion of the proposed offering, two people familiar with the matter said. Bed Bath said it was planning to raise just over $1 billion through sales of preferred stock and warrants and from securities when the warrants are exercised. Bed Bath will receive a waiver on its recent bank default should the proposed offering succeed, the company said. “It’s a similar situation in which a deeply financially distressed company is attempting to sell securities,” said Lynn LoPucki, a professor at the University of Florida.

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