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☆ Why are luxury brands waging war on the ‘upcycled’ clothing market?
▼ + stars: | 2024-05-13 | by ( Sarah Kent | ) edition.cnn.com time to read: +10 min

Editor’s Note: This article was originally published by The Business of Fashion, an editorial partner of CNN Style. The design was upcycled from vintage Chanel scarves by stylist Logan Horne, whose brand, J. Logan Home, specializes in refashioning heritage luxury accessories. Fashion brands' legal claims are varied but ultimately boil down to concerns that third parties are free-riding on brands’ valuable IP in ways that could risk confusing consumers, eroding primary sales and tarnishing or diluting carefully cultivated marks. Some big brands, like Prada, Gucci and indeed Levi’s, have already dabbled with upcycling collections and programs of their own. These days, she says she’s having about a conversation a week with brands interested in exploring collaboration, but the industry moves slowly.

Persons: Travis Kelce, Logan Horne, Logan, Webster, They’ve, Chanel, Horne, ”, Susan Scafidi, J, Logan Home’s, Christian Vierig, Louis Vuitton, Levi’s, Jeremy Moeller, Irene Calboli, ” Chanel, des, Batsheva Hay, Monica Schipper, “, Hay, upcycling, I’m, Prada, Gucci, Anna Foster, Gabriela Hearst Organizations: The, Fashion, CNN, NFL, Dua, Law, Paris Fashion, Business of, “, Getty, Logan Home, Texas, M University, Fashion Trust, Business of Fashion, Industry Locations: New York, Texas, Beverly Hills , California, India, Europe

☆ Stocks making the biggest moves midday: Uber, Intel, Lyft, Shopify, Rivian and more
▼ + stars: | 2024-05-08 | by ( Hakyung Kim | ) www.cnbc.com time to read: +5 min

The company's overall revenue exceeded expectations, coming in at $10.13 billion versus analysts' estimate of $10.11 billion, per LSEG. Lyft – The ride-sharing company surged 5% after the company reported faster-than-expected growth in the first quarter. Lyft reported $1.28 billion in revenue, higher than the FactSet consensus of $1.16 billion. Arista Networks – Shares jumped 7% after the company reported better-than-expected first quarter results. Teva Pharmaceuticals — Shares advanced nearly 14% after the company reported better-than-expected revenue in the first quarter.

Persons: Lyft, FactSet, Rivian, Coupang, LSEG, Twilio, –, —, Samantha Subin, Tanaya Macheel, Michelle Fox, Alex Harring Organizations: Technologies, Revenue, LSEG, Intel, Department of Commerce, Huawei, Lyft, Electronic Arts, EA, Farfetch, Arista Networks –, Arista, Dutch Bros, Bros, Pharmaceuticals, Management Locations: China, Korea

☆ Here are Thursday's biggest analyst calls: Nvidia, Apple, Eli Lilly, Salesforce, Snowflake, Snap, Pinterest and more
▼ + stars: | 2023-11-30 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Jefferies upgrades Pinterest and Snap to buy from hold Jefferies sees growth upside in 2024 for both stocks. " Wolfe upgrades Ally Financial to outperform from peer perform Wolfe said in its upgrade of the financial company that it's well-positioned. "In an environment where the probability of a mild recession or soft landing both appear plausible, we believe ALLY is well positioned to outperform in either scenario and upgrade shares to Outperform." "We continue to believe that Salesforce is on track to become the next quality [growth at a reasonable price] stock." Goldman Sachs reiterates Snowflake as buy Goldman Sachs stood by its buy rating on Snowflake after earnings on Wednesday.

Persons: Berenberg, Eli Lilly, Lilly, Wells, BTIG, Jefferies, Bernstein, Burger, Wolfe, TD Cowen downgrades Okta, Cowen, Stifel, Raymond James, Morgan Stanley, Bilibili, BILI, Baird, Pat Shanahan, Wells Fargo, Salesforce, Goldman Sachs, Snowflake, DUK Organizations: pharma, Nvidia, NVIDIA, Jefferies, SNAP, BK, UBS, Service Corporation, Deutsche Bank, Lattice Semiconductor, Apple, JPMorgan, Nokia, Infineon, Watch, Hewlett Packard Enterprise, Barclays, GE Healthcare, Airbus, Bank of America, Duke Energy, HSBC, Molson Coors Locations: FTCH, North America, China

Goldman Sachs raised its price target on General Motors after the stock's best day since early 2021. The bank reiterated a buy rating as well as a top pick label, accompanied by a $300 per share price target. Goldman Sachs also maintained its buy rating and increased its target price to $345 per share from $340. To be sure, it maintained its $16 per share price target, which implies more than 3% downside from Wednesday's $16.52 close. — Brian Evans 5:45 a.m ET: Goldman raises GM price target Goldman Sachs analyst Mark Delaney increased his price target on General Motors to $45 from $42 after a series of bullish moves by the auto giant.

Persons: Goldman Sachs, Morgan Stanley, 31.6x, Eric Heath, Wells, Andrew Nowinski, — Brian Evans, José Neves, Marvin Fong, Brian Evans, Salesforce, Brad Sills, Kash Rangan, Jefferies, Snapchat, Pinterest, James Heaney, Meta Marshall, Mark Delaney, Delaney, Fred Imbert Organizations: CNBC, General Motors, Hewlett Packard Enterprise, Wall, Bank of America, SNAP, Goldman, GM Locations: Okta, America

☆ Richemont digital strategy goes back to square one
▼ + stars: | 2023-11-29 | by ( Lisa Jucca | ) www.reuters.com time to read: +3 min

The logo of the luxury goods company Richemont is pictured at its headquarters in Bellevue near Geneva, Switzerland, June 2, 2022. REUTERS/Denis Balibouse Acquire Licensing RightsMILAN, Nov 29 (Reuters Breakingviews) - Johann Rupert’s digital strategy may be heading back to the drawing board. But even if Rupert can extricate himself from the Farfetch situation, Richemont’s digital plans will still be unclear. In August 2022 Richemont agreed to sell a 47.5% stake in its digital platform, Yoox Net-A-Porter, to Farfetch. Shares in Richemont were up 1.5% by 1100 GMT on Nov. 29.

Persons: Denis Balibouse, Johann Rupert’s, Porter, Cartier, Rupert, Farfetch, José Neves, Richemont, Financiere Richemont, Peter Thal Larsen, Oliver Taslic Organizations: REUTERS, Reuters, The Telegraph, Financiere, Telegraph, Thomson Locations: Bellevue, Geneva, Switzerland, Swiss, U.S, YNAP, New York, Richemont

☆ Richemont monitoring situation at online luxury retailer Farfetch
▼ + stars: | 2023-11-29 | by ( ) www.reuters.com time to read: +1 min

The logo of the luxury goods company Richemont is pictured at its headquarters in Bellevue near Geneva, Switzerland, June 2, 2022. REUTERS/Denis Balibouse Acquire Licensing RightsZURICH, Nov 29 (Reuters) - Cartier-jewellery owner Richemont (CFR.S) on Wednesday said it was "carefully monitoring" the situation after Farfetch's FTCH.N founder said he was considering taking the online luxury retailer private. Richemont, which also owns several Swiss watch brands, said it has no financial obligation to Farfetch and does not envisage lending or investing into the company. "Richemont is carefully monitoring the situation, including reviewing its options in respect of its arrangements with Farfetch, announced on 24 August 2022, which remain subject to certain terms and outstanding conditions," the company said. Richemont's brands, which also include watchmakers IWC and Jaeger-LeCoultre, have been working on transferring their online businesses to Farfetch's technology.

Persons: Denis Balibouse, Farfetch's FTCH.N, Farfetch, Richemont, Porter, John Revill, Miranda Murray Organizations: REUTERS, Rights, Cartier, watchmakers IWC, Jaeger, Thomson Locations: Bellevue, Geneva, Switzerland, U.S, YNAP, Farfetch

☆ Farfetch founder bids to take company private - Telegraph
▼ + stars: | 2023-11-28 | by ( ) www.reuters.com time to read: +1 min

A banner to celebrate the IPO of online fashion house Farfetch is displayed on the facade of the of the New York Stock Exchange (NYSE) in New York, U.S., September 21, 2018. REUTERS/Brendan McDermid/File Photo Acquire Licensing RightsNov 28 (Reuters) - Online luxury retailer Farfetch's (FTCH.N) founder José Neves is looking to take the company private after a troubled New York Stock Exchange listing, the Telegraph reported on Tuesday. Shares of the company edged 20% higher following the news. Farfetch did not immediately respond to a Reuters request for comment. Reporting by Juveria Tabassum and Annett Mary Manoj; Editing by Maju Samuel and Shilpi MajumdarOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, José Neves, Neves, Farfetch, Juveria Tabassum, Mary Manoj, Maju Samuel, Shilpi Majumdar Organizations: New York Stock Exchange, REUTERS, Telegraph, JPMorgan, HK, Thomson Locations: New York, U.S, Swiss

☆ Richemont brands 'satisfied' with Farfetch technology
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +2 min

The logo of the luxury goods company Richemont is pictured at its headquarters in Bellevue near Geneva, Switzerland, June 2, 2022. REUTERS/Denis Balibouse/File Photo Acquire Licensing RightsPARIS, Nov 10 (Reuters) - Richemont (CFR.S) labels are moving ahead with the transfer of their online businesses to Farfetch (FTCH.N) technology, which they are satisfied with, executives at the Swiss-based group said Friday. The adoption of Farfetch technology to run the online business of Richemont labels is part of a wider agreement for Richemont to sell a 47.5% stake in YNAP in exchange for more than 50 million Farfetch shares, announced in August 2022. "Everything we expected in terms of technology from our Farfetch friends, they've delivered," Richemont chairman Johann Rupert told analysts on an earnings call. Farfetch shares have fallen by more than 60% in the past six months.

Persons: Denis Balibouse, Richemont, they've, Johann Rupert, Bernstein, Mimosa Spencer, Kirsten Donovan Organizations: REUTERS, Rights, Thomson Locations: Bellevue, Geneva, Switzerland, Swiss, Richemont's, U.S, YNAP, Farfetch

☆ 17 Best Dress Shoes for Men, According to Style Experts
▼ + stars: | 2023-11-03 | by ( Leah Melclinton | ) www.wsj.com time to read: +8 min

The laces and classic body shape are characteristic of traditional men’s dress shoes, while the rugged rubber soles still make a statement with any formal outfit. “Good leather shoes are not an arena in which it pays to cut costs,” he says, recommending investing in “the pair of a decade” from this made-in-England favorite. (Crockett & Jones has regal and Hollywood credentials: the brand received a Royal Warrant of Appointment in 2017, and this is the style of dress shoes worn by Daniel Craig’s James Bond). Sleek sneakersThe key to dressed-up sneakers is finding a leather pair free of busy accents or logos. The style is “acceptable to wear with dress clothes,” confirms Los Angeles-based personal stylist Rayne Parvis, who advises people to wear these sneakers in place of brown lace-up dress shoes.

Persons: Leah Melby Clinton You’ve, Magnanni Marco, Jim O’Brien, O’Brien, Wes Sharpton, Cole Myers, ”, Jones, Daniel Craig’s James Bond, Nolan Beck, Rivera, suede Myers, Myers, cushioned, ’, ” Beck, Johnny Cash, Saint Laurent, “ They’re, Beck, Rayne Parvis Organizations: Huntington, Cleobella, Kansas, Monroe, Crockett, Chelsea Boots Locations: Huntington Beach, Calif, Catskill, N.Y, New York City, Paris, Kansas City, Mo, England, Polish, Richmond, Va, Montreal, French, Alsace, ”, Mexico, Nisolo, Los Angeles

☆ Here are Wednesday's biggest analyst calls: Nvidia, Apple, Microsoft, Gap, Verizon, Alphabet & more
▼ + stars: | 2023-10-25 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Wells Fargo upgrades Gap to overweight from equal weight Wells said the turnaround is taking shape for Gap. Deutsche Bank upgrades Livent to buy from hold Deutsche said it sees an attractive entry point for the lithium company. Bank of America downgrades TransUnion to underperform from buy Bank of America double downgraded the stock due to concerns about consumer lending. Bank of America initiates Syndax as buy Bank of America said it sees upside for the pharmaceutical company. Monness, Crespi, Hardt & Co. downgrades Alphabet to neutral from buy Monness said it's concerned about regulatory headwinds.

Persons: TD Cowen, Freyr, FREY, Goldman Sachs, Goldman, it's, We're, Wells, Needham, Etsy, Piper Sandler, Piper, TRU, SocGen, Bernstein, Deutsche Bank downgrades Corning, 2H24, Jefferies, Monness, Crespi, Hardt, Piper Sandler downgrades Livent Organizations: EV, Apple, BMO, Bank of America, Microsoft, GPS, Alto Networks, Deutsche Bank, Deutsche, Citi, TAM, Barclays, Verizon, Piper Sandler downgrades Regions, Citizens Financial, RF, " Bank of America, Farfetch, Machinery, UBS, Nvidia, Veeva, Commercial, Syndax Pharmaceuticals Locations: EVgo, Cybersecurity, Corning, Albemarle, LTHM

☆ European regulator approves Farfetch deal for YNAP, Richemont says
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +2 min

[1/2] A banner to celebrate the IPO of online fashion house Farfetch is displayed on the facade of the of the New York Stock Exchange (NYSE) in New York, U.S., September 21, 2018. Completion of the deal remains subject to "certain other conditions that Richemont and Farfetch are working towards fulfilling", Richemont said, promising a further update "in due course", without providing further detail. Under the terms of the deal unveiled in August 2022, Richemont would sell a stake of 47.5% in loss-making YNAP in exchange for more than 50 million Farfetch shares, and Farfetch could acquire the rest of YNAP through a put and call option arrangement. Bernstein analysts said last week that Farfetch's troubles raised questions for Richemont, which is set to transfer its online business to technology run by Farfetch and provide a $450 million credit facility. Reporting by John Revill and Mimosa Spencer; editing by Friederike Heine, Clarence Fernandez and Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Brendan McDermid, Porter, Cartier, Richemont, Farfetch, Bernstein, Bergdorf Goodman, John Revill, Mimosa Spencer, Friederike Heine, Clarence Fernandez, Jason Neely Organizations: New York Stock Exchange, REUTERS, Rights, Yoox, Farfetch, Citi, Thomson Locations: New York, U.S, Richemont, YNAP, Farfetch, Harrods

☆ London fashion designer apologizes after Saudi-flag miniskirt controversy
▼ + stars: | 2023-09-18 | by ( Aimee Look | ) edition.cnn.com time to read: +2 min

Dubai, UAE CNN —London-based Nigerian fashion designer Mowalola Ogunlesi has apologized after stirring a backlash online for showcasing a miniskirt with a print of the Saudi Arabian flag in her Spring 2024 collection at London Fashion Week on Friday. The Mowalola collection contained various flags as miniskirts, including those of China, the UK and Japan. The Saudi flag is not typically printed on clothing out of respect for the holy inscription. The Saudi flag is never flown at half-staff at times of national mourning anywhere in the world. Users on X criticized the design in posts and comments, calling it “disrespectful” and “offensive.”This miniskirt isn’t the first time Mowalola has used religious symbols in designs.

Persons: Mowalola Ogunlesi, Mohammed, ”, FarFetch, Ogunlesi, “, I’ve, ” Ogunlesi, Mowalola Organizations: UAE CNN —, London, Saudi, Saudi Ministry, Commerce Locations: Dubai, UAE, UAE CNN — London, Saudi Arabian, China, Japan, Saudi, Saudi Arabia

☆ The $128 billion retail media industry is the hottest space in advertising right now — and its growth tear is coming at the expense of Google and TV
▼ + stars: | 2023-09-02 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +4 min

US search spend on retail media properties is expected to grow 18.7% this year, while search spend outside retail media is expected to grow just 5%, per Insider Intelligence. Despite offering Shopping Ads and analytics and order management tools, industry analysts usually don't consider Google as a retail media operator. AdvertisementAdvertisementHowever, not all retail media spend is coming at the expense of Google and traditional advertising channels. Forrester's second-quarter marketing CMO pulse survey found that the majority of retail media spend is coming from existing trade and shopper marketing budgets. Retailers are cannibalizing those budgets to fuel growth of their retail media networks, said Nikhil Lai, senior analyst at Forrester.

Persons: —, Alex Brownsell, Bill Fisher, Nikhil Lai, Forrester's Lai Organizations: Google, Walmart, Service, Retail, Intelligence, Kroger, Forrester, Apple, Instacart Locations: Amazon, Wall, Silicon, Instacart

☆ Here are Tuesday's biggest analyst calls: Nvidia, Amazon, Oracle, AT&T, Disney, Microsoft and more
▼ + stars: | 2023-08-29 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Morgan Stanley downgrades Farfetch to equal weight from overweight Morgan Stanley said it sees limited catalysts ahead for the stock. UBS upgrades Oracle to buy from neutral UBS said Oracle has upside potential. Wells Fargo upgrades Rockwell Automation to equal weight from underweight Wells Fargo upgraded the stock mainly on valuation. UBS reiterates Microsoft as buy UBS said supply chain constraints are manageable for Microsoft. Morgan Stanley reiterates Nvidia as overweight Morgan Stanley said Nvidia's blowout earnings report last week is positive for the AI supply chain. "

Persons: Fargo, Goldman Sachs, Wells Fargo, Goldman, DA Davidson, Davidson, Morgan Stanley downgrades Farfetch, Morgan Stanley, Wells, Bernstein, Airbnb, Palantir, Splunk, Jefferies, Raymond James Organizations: Federal Trade Commission, Amazon, UBS, Oracle, Nvidia, Citi, Verizon, AT, VZ, JPMorgan, Pace, Business, Rockwell Automation, Disney, Microsoft, Bank of America, Jefferies, Holdings, underperform Bank of America, China, NVIDIA, Energy Partners, NextEra Energy Partners Locations: China and Hong Kong, HK, Asia

☆ Stocks making the biggest premarket moves: Palo Alto Networks, Earthstone Energy, Nvidia, VMware and more
▼ + stars: | 2023-08-21 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Signage outside Palo Alto Networks headquarters in Santa Clara, California, U.S., on Thursday, May 13, 2021. Palo Alto Networks — The security software vendor soared 12.5% following an earning's beat after the Friday market close. Earthstone Energy , Permian Resources — Earthstone jumped 7.5% in the premarket after Permian Resources agreed to buy the oil and gas company in an all-stock deal valued at about $4.5 billion, including debt. Nvidia — The leading AI semiconductor maker gained 2.6% premarket after HSBC reiterated a buy rating and raised its target price. The e-commerce fashion platform's shares tanked after second quarter revenue came in lower than expected.

Persons: Earthstone, Baird, Gross, Napco, XPeng, Tesla, —, Samantha Subin, Alex Harring, Hakyung Kim, Pia Singh Organizations: Palo Alto Networks, Refinitiv, Earthstone, Resources, Nvidia, HSBC, Napco Security, Bank of America, Volkswagen, VMware, Broadcom, United Kingdom's, Markets Authority Locations: Palo, Santa Clara , California, U.S, Refinitiv ., China

☆ Stocks making the biggest moves midday: Palo Alto Networks, Nvidia, Tesla, Marvell and more
▼ + stars: | 2023-08-21 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Palo Alto Networks — The security software provider jumped 15.2% after Palo Alto beat expectations for earnings when reporting after the bell Friday. Goldman Sachs reiterated the stock as a buy following its report. Permian shares were flat. Xpeng — The Chinese electric vehicle maker jumped 9.8% following an upgrade to buy from neutral by Bank of America. Farfetch — The e-commerce fashion company's shares jumped more than 5% Monday.

Persons: Goldman Sachs, Earthstone, Baird, Napco, Xpeng, Tesla, Farfetch, Acushnet, Jefferies, —, Sarah Min, Hakyung Kim, Samantha Subin Organizations: Nvidia, Palo Alto Networks, Palo Alto, Earthstone, Nvidia —, HSBC, Napco Security Technologies, Bank of America, Volkswagen, VMWare, Broadcom, United Kingdom's, Markets Authority, Acushnet Holdings Locations: Santa Clara , California, China

☆ Farfetch shares plunge as weak demand in US, China slams 2023 outlook
▼ + stars: | 2023-08-18 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

Branding for online fashion house Farfetch is seen at the company headquarters in London, Britain January 31, 2018. REUTERS/Toby Melville Acquire Licensing RightsAug 18 (Reuters) - Shares of Farfetch (FTCH.N) slumped nearly 40% to a record low on Friday, as choppy demand in the online luxury goods retailer's top two markets, the United States and China, drove a gloomy annual sales outlook. Farfetch projected total gross merchandise value, or the total dollar value of orders processed - a key revenue metric - to be about $4.4 billion for 2023, compared with prior expectations of $4.9 billion. As of Thursday's close, Farfetch had a market capitalization of about $1.68 billion, per Refinitiv data. Reporting by Deborah Sophia in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Toby Melville, Farfetch, José Neves, Morgan, Keybanc, Oliver Chen, Cowen, Marvin Fong, Fong, Deborah Sophia, Krishna Chandra Organizations: REUTERS, Thomson Locations: London, Britain, United States, China, U.S, Mainland China, J.P, Bengaluru

☆ Stocks making the biggest moves premarket: Estee Lauder, Bloomin' Brands, Palo Alto Networks and more
▼ + stars: | 2023-08-18 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Palo Alto Networks — Shares of the cybersecurity company edged 1.8% lower in premarket trading Friday. Palo Alto Networks' fiscal fourth-quarter earnings are expected to come out Friday afternoon. Analysts surveyed by FactSet's StreetAccount called for $1.96 billion in revenue and earnings per share of $1.29. The company reported adjusted earning per share of 7 cents, while analysts surveyed by Refinitiv had forecast a loss of 4 cents per share. The electronic design company said it anticipates adjusted earnings of $1.83 to $1.89 per share on revenue of $1.29 billion to $1.31 billion.

Persons: FactSet's StreetAccount, Alibaba, PDD, Nio, Estee Lauder —, Estee Lauder, Refinitiv, Keysight, Jeffrey Smith's, — CNBC's Michelle Fox Theobald, Jesse Pound Organizations: Palo Alto, Palo Alto Networks, Ross, Ross Stores, Refinitiv . Revenue, Technologies, Street Journal

☆ The 16 Best Items to Add to Your Registry—and Where to Register
▼ + stars: | 2023-08-17 | by ( Erika Veurink | ) www.wsj.com time to read: +17 min

By Erika VeurinkA wedding registry is a couple’s chance to creatively express the kind of life you hope to create together. If you’re a bride or groom to be, you can easily add a link to these eye-catching utensils to your Zola registry. Add the link to the multipurpose pressure cookware to your registry on Zola, or shop it at Amazon or Walmart. Add this link to your Zola registry (and browse other local gift options) and your guests can send a wedding-week-pick-me-up or gift an ongoing subscription. And if you don’t know where to start, Bloomingdale’s wedding registry checklist will help you narrow down what you need.

Persons: Erika Veurink, Zola, ”, Maria Del Russo, servingware, Simone Silverman, Silverman, Del Russo, “, Margaux, Alexandra Daniel, Daniel, Dyson, Holly Liss Jammet, Jammet, Jones, Great Jones, Tricia Lowenfield, Sarah Swann, napkins Swann, Gregory Blake Sams, You’ll, you’d, Sams, Christolfe, Coffee, Anbouba, Neiman Marcus, Delaney Lundquist, she’s, Lundquist, Lily Sullivan, ” Sullivan, Hawkins, Food52, Sullivan Organizations: New, Margot Magazine, Designs, Zola, Elle, Walmart, ” Investment, ”, Farmers, tote, Courtland, Co, Target Locations: Zola, New York City, Florida, Italy, Flamingo, Los Angeles, Great, York, City, Charleston, S.C, Sur, Charlotte, N.C, Brooklyn, N.Y

☆ Stocks making the biggest moves after hours: Applied Materials, Ross Stores and more
▼ + stars: | 2023-08-17 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

Applied Materials — Applied Materials rose nearly 2% in extended trading after beating analysts' expectations on the top and bottom lines in its fiscal third-quarter results. The semiconductor equipment maker posted adjusted earnings of $1.90 per share, greater than the $1.74 per share expected by analysts polled by Refinitiv. Ross Stores — The retail stock popped 5.7% in extended trading after Ross Stores topped forecasts for its second quarter. Analysts polled by Refinitiv had expected 41 cents in earnings per share on revenue of $282 million. The online luxury retailer posted revenue of $572 million, lower than the consensus estimate of $649 million from Refinitiv.

Persons: Bill Holdings, Bill, Refinitiv, Keysight, FactSet, Farfetch Organizations: Applied, Refinitiv . Revenue, Ross Stores, Holdings Locations: Santa Clara , California, Refinitiv

☆ What we want to see from retail sales and 3 Club earnings in the week ahead
▼ + stars: | 2023-08-12 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

State of the consumer: Retail sales for July are out on Tuesday. Key retail earnings reports from Walmart (WMT), Target (TGT) and Tapestry (TPR) will also provide clues on the health of the consumer. Earnings : On Wednesday morning, we hear from Club holding TJX Companies (TJX). Prior retail sales data has shown monthly sales growth at clothing and clothing accessory stores accelerate throughout the quarter, rising 0.14% monthly in April, 0.3% in May and 0.6% in June. For those looking to review first-quarter performance ahead of these releases, be sure to keep our first-quarter earnings report card handy.

Persons: We'll, Estee Lauder, we've, Palo, Cardinal Health, JD.com, Brinker, BILL, Jim Cramer's, Jim Cramer, Jim, Spencer Platt Organizations: Nasdaq, Dow Jones, Investors, Walmart, TJX Companies, Palo Alto Networks, Embraer, Energy, Getty, Sea Ltd, Cardinal, Nu Holdings, Housing, ZIM, Food, Colgate, Palmolive, Cisco Systems, Chemical & Mining, Keysight Technologies, Ross Stores, Deere & Company, Alto Networks, Jim Cramer's Charitable, CNBC Locations: China, Dole, DOLE, Manhattan, New York City

☆ Your next job may depend on how well you understand AI tools like ChatGPT
▼ + stars: | 2023-05-30 | by ( Hasan Chowdhury | ) www.businessinsider.com time to read: +4 min

Companies are looking at ways to implement tools like ChatGPT into their products and workflows. But pretty much anyone with a job, beyond just tech, will need to get to grips with AI and its potential. On Monday, Jensen Huang, the CEO of chip giant Nvidia, suggested workers should find a way to make AI work to their favor. ChatGPT shifted priorities for corporatesThe release of OpenAI's ChatGPT in November has coincided with a shift in priorities for companies across the board. Meanwhile a survey of 3,000 employed Americans by HR software firm Checkr found that 79% of workers are feeling the pressure to learn more about AI tools.

The shoe retailer missed analysts' expectations on both earnings and revenue in the first quarter. Catalent lowered its full-year earnings and revenue guidance ahead of its business update call. Applied Materials – Shares of the chip maker slipped more than 1% premarket despite the company posting earnings and revenue for the most recent quarter that beat expectations on Wall Street. DXC posted revenue that came in below analysts' expectations from FactSet and earnings that were about in line with expectations. Deere — The tractor maker's shares rose almost 4% after it announced an earnings and revenue beat for its fiscal second-quarter.

☆ Stocks making the biggest moves midday: Foot Locker, Catalent, Occidental Petroleum & more
▼ + stars: | 2023-05-19 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in midday trading Friday. Foot Locker — The footwear retailer tanked 25.7% after it missed both top and bottom lines during the fiscal first-quarter. Disney — The media conglomerate fell nearly 2% in midday trading after Macquarie Research downgraded shares to neutral from outperform. Farfetch — The e-commerce company added 17.6% in midday trading after Farfetch reported a revenue beat for the first quarter. Western Alliance , PacWest — shares of the regional banks dipped more than 4% each, giving back some of their sharp gains from this week.

☆ Artificial intelligence is a $38 billion revenue opportunity for retailers. Here's how to play the trend
▼ + stars: | 2023-04-22 | by ( Michelle Fox | ) www.cnbc.com time to read: +15 min

Morgan Stanley estimates that in 2022, only 23% of the $4.3 trillion of U.S adjusted retail spending was online. Add in AI, which can drive better shopper experiences or better conversion, it could bump to 9% or possibly 10% CAGR, he said. Eventually, AI can help retailers pitch tailored products to each potential customer based on their prior history. You might see it in the member services experience in having a better opportunity to get customer support," he said. As retailers move ahead in their plans to integrate AI into their business, some will build the capabilities.

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