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Dividend-focused investors should look to switch out a hot chip stock for a slumping consumer play after the latest market rally, according to Morgan Stanley Wealth Management. Coffee chain Starbucks is joining the model portfolio, while red-hot Broadcom is on the way out. Starbucks has been battling rising labor costs in the U.S. and weak demand in China, a key international market. The addition of Starbucks helps bolster the consumer discretionary part of the Morgan Stanley Wealth Management model portfolio. The dividend yield for AVGO is 1.6% even after the company announced a dividend hike in December.
Persons: Morgan, Daniel Skelly, Skelly, SBUX, Laxman Narasimhan, Narasimhan, it's, — CNBC's Michael Bloom Organizations: Morgan Stanley Wealth Management, Broadcom, Starbucks, Morgan Locations: U.S, China
New York CNN —Spending on the holiday season is expected to rebound to – and even surpass – pre-pandemic levels this year for the first time. The year-end months of November and December typically are dominated by shoppers scouring stores for deals and discounts on seasonal merchandise, including gifts. “As many as 82% of shoppers said they plan to spend on non-gift purchases such as decorations. While gift spending is still expected to grow 9% over last year, the report said people plan to buy one fewer gift versus last year. “In terms of the allocation of holiday dollars, the biggest increase that we saw is in the non-gift group,” said Skelly.
Persons: , it’s, Skelly, It’s, Organizations: New, New York CNN, Deloitte, Retail Survey, CNN Locations: New York
Chipmaker Advanced Micro Devices is an "emerging growth opportunity" in artificial intelligence, according to Morgan Stanley Wealth Management. Investment strategist Daniel Skelly said he added the chipmaker to the firm's equity model portfolio. He noted that AMD is "a leader in chip end markets with potential AI tailwinds." "We viewed AMD's 2Q23 print constructively as management indicated improving business conditions into the second half of the year," Skelly said. "With data center revenue growth troughing, we believe investors should look through to a 2024 inventory re-build that is supported by tailwinds from AI."
Persons: Morgan, Daniel Skelly, Skelly, — CNBC's Michael Bloom Organizations: Devices, Morgan Stanley Wealth Management . Investment, AMD, Intel
The 13 Best Winter Hats for Women, According to Style Insiders
  + stars: | 2022-12-01 | by ( ) www.wsj.com   time to read: +6 min
By Leah Melby ClintonNecessary essential or fashion statement, a winter hat is a wardrobe must, period. Below, a breakdown of the four big winter hat trends this year, with the pros’ specific picks that combine warmth and sartorial elan. The perfect wool beanieAcne Studios Appliquéd Ribbed Wool Beanie $170 at Net-A-PorterA knit beanie is a wardrobe staple, and this 100% wool version from Acne was mentioned by multiple style pros. Retro-modern bucket hatA ’90s throwback moment enveloped the fashion industry this year, with the return of the bucket hat. Chic cashmere beanieThis warm all-cashmere style was a constant in Sanford’s wardrobe when she lived in the Northeast.
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