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☆ Americans could be on a tight budget this summer
▼ + stars: | 2024-06-20 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —Americans tend to shell out in the summer as they venture outdoors, book trips and step away from their desks. Consumers plan to spend less on away-from-home entertainment and vacations this summer, according to the 2024 KPMG Consumer Pulse Survey released Tuesday. That’s a contrast to last year when Americans shelled out on the “Barbenheimer” phenomenon, Taylor Swift and Beyoncé concert tickets and getaways. Retailers that offer Americans more bang for their buck including Ross Stores, TJ Maxx and HomeGoods-parent TJX, Dollar General and Walmart have benefitted. Americans are also feeling worse about the economy as they struggle with elevated inflation and high borrowing rates.

Persons: Taylor Swift, It’s, ”, Duleep Rodrigo, TJ Maxx, Mark Thompson, Henley, ” Hannah White, —, OpenAI’s Organizations: CNN Business, Bell, New York CNN, Pulse Survey, Commerce Department, Federal Reserve, Retailers, Ross Stores, Walmart, Abercrombie, Fitch, Williams, University, Michigan’s, Millionaires, Labour, Henley & Partners, Institute for Government, City of, Henley Private Wealth, Nvidia, Microsoft, Apple Locations: New York, Sonoma, Britain, United Kingdom, City of London

☆ CEOs are making almost 200 times what workers are
▼ + stars: | 2024-06-04 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

The median CEO in the S&P 500 was paid 196 times as much as the median employee in 2023, according to an analysis by Equilar and The Associated Press. The widening divide is driven by the fact that CEO pay — which is closely tied to share prices — is rising notably faster than that of employees. Median total compensation for S&P 500 CEOs (including stock awards) soared to $16.3 million in 2023 — a huge year-over-year increase of 12.6%, compared to just 0.9% in 2022. The median S&P 500 employee earned $81,467 last year, up 5.2% from 2022, the report said. Given the rising stock market, the median stock award increased by 10.7% to $9.4 million, the report found.

Persons: Moody’s, Eleanor Bloxham, Bloxham, “, Hock Tan, William Lansing, Tim Cook, Barbara Rentler, — Organizations: New, New York CNN, Associated Press, Workers, Value Alliance, CNN, Federal Reserve, Nasdaq, Broadcom, Apple, Ross Stores, Ross Locations: New York, United States

☆ American shoppers are tired. These companies are benefiting
▼ + stars: | 2024-06-02 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

Just ask Ross Stores: America’s largest off-price retailer reported earnings and revenue that beat analysts’ forecasts last week. The US Labor Department releases April figures on job openings, quits, hires and layoffs. The US Commerce Department releases April figures on new orders for manufactured goods. The US Commerce Department releases April data on exports and imports. Friday: The US Labor Department releases May data gauging the state of the job market, including monthly payroll growth, wage gains and the unemployment rate.

Persons: Ross, “, ” Adam Orvos, ” TJX, TJ Maxx, LVMH Moët Hennessy Louis Vuitton, ” Clayton Allison, Allison, ” Allison, Brown Forman, Campbell Organizations: CNN Business, Bell, Washington CNN, Companies, Ross Stores, Marshalls, Burberry, Prime Capital Investment Advisors, CNN, Walmart, P Global, Institute for Supply Management, CrowdStrike, Hewlett Packard Enterprise, Body, US Labor Department, US Commerce Department, Bank of Canada, Autodesk, Smucker, DocuSign, Vail Resorts, European Central Bank Locations: Washington, North America, Europe, Australia, Americas, Zumiez

☆ Stocks making the biggest moves midday: Workday, Lucid, Toast, Deckers and more
▼ + stars: | 2024-05-24 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Ross Stores posted earnings of $1.46 per share on $4.86 billion in revenue. Revenue came out at $2.77 billion, slightly higher than analysts' forecast of $2.72 billion. Intuit forecast adjusted earnings of $1.80 per share to $1.85 per share, while analysts polled by FactSet expected $1.92 per share. Toast — Shares of the financial tech company, which specializes in point-of-sale products for restaurants, gained nearly 1%. Workday forecast subscription revenue of $1.895 billion, while the consensus forecast called for $1.9 billion, per StreetAccount.

Persons: Booz Allen Hamilton, Booz Allen, Robinhood, FactSet, Moshe Katri, Katri, LSEG, —, Jesse Pound, Tanaya Macheel, Alex Harring, Samantha Subin Organizations: Ross Stores, Ross, LSEG, Revenue, U.S . Securities, Exchange Commission, Intuit —, Intuit, Food and Drug Administration

☆ Jim Cramer runs through 4 stock movers and why he owns and believes in cryptocurrency ether
▼ + stars: | 2024-05-24 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +1 min

Workday : The HR software company cut its subscription revenue outlook, and the stock was being punished Friday, down 13.5%. "Everybody in the country is trying to scale back" human resources, Jim Cramer said Friday, adding that's the problem. The stock Wednesday finished well off the highs for the session and then went down and up Thursday and Friday. Cramer said "Deckers is very well run company" but warned that footwear and apparel "can be fickle." Cramer said he owns ether in his personal portfolio.

Persons: Jim Cramer's, Jim Cramer, Cramer, UGGs Organizations: CNBC, Club, HR, Ross Stores, Ross, Intuit, SEC, U.S . Locations: Maxx

☆ Friday's rapid-fire: Workday, Ross Stores, Deckers, Intuit and Ether
▼ + stars: | 2024-05-24 | 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 EmailFriday's rapid-fire: Workday, Ross Stores, Deckers, Intuit and EtherJim Cramer runs through four stocks and a cryptocurrency that are outside the CNBC Investing Club portfolio.

Persons: Jim Cramer Organizations: Ross Stores, Intuit, CNBC, Club

☆ Stocks making the biggest moves premarket: Ross Stores, Intuit, Workday, Guardant Health and more
▼ + stars: | 2024-05-24 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Check out the companies making headlines in premarket trading: Intuit — The TurboTax parent company slipped nearly 6% after issuing weaker-than-expected fiscal fourth-quarter guidance . Intuit forecast adjusted earnings of $1.80 per share to $1.85 per share, while analysts surveyed by FactSet expected $1.92. Ross Stores — The discount apparel retailer stock added more than 7% on the heels of an earnings beat. Workday forecast subscription revenue of $1.895 billion, while the consensus forecast called for $1.9 billion, according to StreetAccount. Analysts surveyed by LSEG were looking for $2.89 in earnings per share on $888 million of revenue.

Persons: Cash, —, Jesse Pound Organizations: Intuit, Ross Stores, LSEG, Nvidia, U.S . Food, Drug Administration Locations: U.S

☆ Stocks making the biggest moves after hours: Ross Stores, Intuit, Workday and more
▼ + stars: | 2024-05-23 | by ( Brian Evans | ) www.cnbc.com time to read: +1 min

Ross Stores reported first quarter earnings of $1.46 per share on revenue of $4.86 billion. Analysts polled by LSEG anticipated earnings of $1.35 per share and revenue of $4.83 billion. Workday — The enterprise management company pulled back 10% after the company's subscription revenue guidance missed Wall Street estimates. Workday expects second-quarter subscription revenue guidance of $1.895 billion, while consensus forecasts called for $1.9 billion, per StreetAccount. Intuit called for fiscal fourth-quarter adjusted earnings of $1.80 to $1.85 per share, while analysts polled by FactSet predicted $1.92 per share.

Persons: LSEG, TurboTax, FactSet, Darla Mercado, Scott Schnipper Organizations: Ross, Ross Stores, Intuit –, Intuit, Wall

☆ We're trying to make sense of this crazy day on Wall Street, with the market sinking but Nvidia holding strong
▼ + stars: | 2024-05-23 | by ( Jeff Marks | ) www.cnbc.com time to read: +3 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street.

Persons: Jim Cramer, Dow, Cash, DuPont, Jefferies, Thursday's, Jim Cramer's, Jim Organizations: CNBC, Nvidia, Reserve, Nasdaq, DuPont, Ross Stores, Intuit, Jim Cramer's Charitable Locations: Dover, Mizuho

☆ Stock futures are little changed after Dow posts worst session since March 2023: Live updates
▼ + stars: | 2024-05-23 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 11, 2023. Stock futures were little changed on Thursday evening, following the worst session in more than a year for the Dow Jones Industrial Average. S&P 500 futures ticked up by 0.04%, while Nasdaq 100 futures pulled back 0.02%. The Dow suffered a 1.53% decline for its worst session since March 2023, weighed down by a 7.6% drop in Boeing. To that end, the S&P 500 is tracking for a weekly loss of 0.7%, while the Dow is on pace to drop about 2.4%.

Persons: Dow, Jamie Cox, Dow Jones Organizations: New York Stock Exchange, Stock, Dow Jones, Dow, Nasdaq, Intuit, Ross Stores, Nvidia, Boeing, Harris Financial, Federal Reserve, University of Locations: New York City, U.S

☆ TJX jumps 4% to a new high after earnings — here's what investors love about the report
▼ + stars: | 2024-05-22 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

TJX Companies shares climbed to an all-time high Wednesday after reporting better-than-expected fiscal first-quarter results Wednesday. Executives also said they see further ability to grow because TJX is becoming an increasingly important channel for its vendors. In the quarter, TJX returned a total of $886 million to shareholders in the quarter, with $609 million coming via buybacks and another $377 in dividend payments. Full year sales guidance was revised lower by about $150 million at the midpoint due to foreign exchange dynamics. Comparable same store sales guidance was left unchanged.

Persons: Wednesday's, Ernie Herrman, TJX, Herrman, we're, HomeGoods, John Klinger, Klinger, Jim Cramer's, Jim Cramer, Jim, TJMaxx, Jeff Greenberg Organizations: TJX Companies, LSEG, TJX, Marshalls, Ross Stores, Burlington Stores, Consumers, Companies, TJX Canada, Management, CNBC, Universal, Getty Locations: Maxx, HomeGoods, U.S, buybacks, Canada, Florida, Port

☆ Nvidia and 2 other portfolio stocks report earnings next week. Here's what we want to see from each
▼ + stars: | 2024-05-18 | by ( Zev Fima | ) www.cnbc.com time to read: +7 min

All three major averages closed higher for the week, driven by softer retail sales and consumer price data for April. And the data has been mostly good, with 78% reporting a positive earnings surprise and 60% delivering a positive sales surprise. But we will get earnings from three portfolio companies, including one of our two "own, don't trade" stocks. In the week ahead, three portfolio companies will report results, while it will be fairly slow for economic data, except for a couple of housing reports. Earnings : After a week without earnings from any Club stocks, we'll get three this coming week.

Persons: Dow Jones, Dow, we'll, TJX, Blackwell, Li Auto, James Hardie, Ralph Lauren Corporation, Booz Allen, Jim Cramer's, Jim Cramer, Jim, Jensen Huang, Justin Sullivan Organizations: Wall, Federal Reserve, Dow, Nasdaq, CPI, Palo Alto Networks, Palo, TJX Companies, Nvidia, Nexxen, Alto Networks, Video Communications, Trip.com, James Hardie Industries N.V, Nordson Corp, Keysight Technologies, ZIM Integrated Shipping Services, Lowe's Companies, Eagle Materials, Toll, ViaSat, Urban Outfitters, Target Corp, Devices, Dorian LPG, Dycom, Golden Ocean Group, Petco, Wellness Company, Sonoma, WSM, VF Corp, Star Bulk Carriers Corp, LiveRamp Holdings, Chemical & Mining Co, Grupo Supervielle S.A, BJ's Wholesale, Technologies, TD Bank Group, Intuit, Ross Stores, Booz Allen Hamilton Holding, Mesa Laboratories, Jim Cramer's Charitable, CNBC, Intelligence, SAP Center Locations: Palo Alto, Williams, Chile, San Jose , California

☆ Jim Cramer's week ahead: Earnings from Nvidia, Target, Macy's
▼ + stars: | 2024-05-17 | by ( Julie Coleman | ) www.cnbc.com time to read: +2 min

"Lots to love next week, but, look, for many it's really just going to be about Nvidia," he said. Cramer said he's expecting a solid quarter from Macy's on Tuesday and that Lowes 's report that day should be well-received. Wednesday after the bell brings a report from Nvidia, which Cramer suggested is "perhaps the most important earnings report of the year." He noted that the company's last quarter was good, adding that the upcoming quarter could be more of the same. Cramer said he expects Deckers to have solid earnings as its running shoe brand, Hoka, continues to gain traction.

Persons: CNBC's Jim Cramer, Cramer, he's, Lowes, Ralph Lauren Organizations: Nvidia, Palo Alto Networks, Devices, Target, Williams, Walmart, V.F, Corp, Intuit, Ross Stores Locations: Macy's, Sonoma, Snowflake

☆ Top Street analyst is right about the stock of this off-price retailer: It's a buy
▼ + stars: | 2024-05-17 | by ( Paulina Likos | ) www.cnbc.com time to read: +4 min

A top Wall Street analyst's stellar endorsement of TJX Companies makes us want to buy more shares of the discount retailer. Matt Boss of JPMorgan — Jim Cramer's favorite retail analyst — said Friday that several off-price retailers, including Ross Stores , Burlington Stores , and Club holding TJX, were buys. One possible catalyst for TJX stock is the company's quarterly earnings report this coming Wednesday before the opening bell. Part of the reason is also the growing appeal in off-price retailers and discounters as consumers in higher and higher income brackets seek value. "I continue to think that Costco is the stock to buy off of Walmart," Jim said Thursday.

Persons: Matt Boss, JPMorgan, Jim Cramer's, —, Boss, HomeGoods —, Jim, TJX, Walmart's, Jim Cramer, Jeff Greenberg Organizations: TJX Companies, Ross Stores, Burlington Stores, JPMorgan, Walmart, Costco, TJX, CNBC, Universal, Getty Locations: Maxx, Port St Lucie , Florida

☆ How a strained consumer 'plays right into' the hands of this discount retailer
▼ + stars: | 2024-05-07 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

"That all really kind of plays right into Ollie's hands." Her $92 price target implies about 17%% upside from Monday's close. The average analyst has a buy rating and target for shares suggesting upside of more than 12%, according to LSEG. Ollie's shares are lagging the broader market in 2024 with a gain of almost 5% versus the S & P 500's 9% gain. OLLI 1Y mountain Ollie's shares over the past 12 months.

Persons: Anthony Chukumba, it's, Price, Melanie Nuñez, Ollie's, Nuñez, Chukumba, OLLI, Truist's Scot Ciccarelli, Ciccarelli, TJ Maxx, BofA's Nuñez, Chukumba's, FirstCash Organizations: Capital, Federal, Amazon, Walmart, Bank of America, Wall, Ross Locations: McDonald's, Harrisburg , Pennsylvania, Monday's, Ollie's

☆ Off-price retail is poised to keep taking market share. Why is TJX's stock stuck?
▼ + stars: | 2024-04-14 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

The ongoing challenges for department stores, which extend back more than a decade, keep playing into the hands of off-price competitors, UBS said. Despite woes at other retailers, TJX stands out as a resilient company well-equipped to avoid many of the industry's challenges. TJX 1Y mountain TJX's stock performance over the past 12 months. One factor keeping a lid on TJX's stock recently may be that it is trading close to its historical valuation, noted Chuck Grom, a consumer and retail analyst at Gordon Haskett. On the other hand, spending at department stores fell 3.7% in March after a 5.2% decline in February, according to Bank of America.

Persons: Jeff Marks, TJX, — TJX, Ernie Herrman, Chuck Grom, Gordon Haskett, Grom, TJX's, Corey Tarlowe, Tarlowe, Jim Cramer's, Jim Cramer, Jim, Jeff Greenberg Organizations: Companies, TJX Companies, Ross Stores, UBS, Burlington Stores, Nordstrom, Marshalls, Home Goods, CNBC, Loop, Jefferies, Bank of America, Universal, Getty Locations: Maxx, Port St Lucie , Florida

☆ BMO says there's a buying opportunity in small caps, gives a list of the best ones to buy
▼ + stars: | 2024-03-27 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Since the start of the year, the S & P MidCap 400 index and S & P SmallCap 600 index have added 8.2% and 0.2%, respectively. The large-cap S & P 500, meanwhile, has gained roughly 9.5%. March has proved to be a better month for so-called SMID-cap stocks, however, with the S & P MidCap 400 gaining about 4%, while its large-cap counterpart has added 2.4%. To play this trend, he listed several stocks in BMO's SMID-cap universe that the firm rates as outperform. Other top stocks included in BMO's SMID-cap coverage include social media company Snap , discount retailer Ross Stores and electric power and natural gas supplier Constellation Energy .

Persons: Brian Belski, Belski, Piper Sandler, Thomas Champion, Morgan Stanley, Keith Bachman Organizations: BMO Capital Markets, BMO, BMO's, Software, BMO Capital, Ross Stores, Constellation Energy Locations: Tuesday's, Real

☆ Stocks making the biggest moves premarket: Palantir, CrowdStrike, Foot Locker and more
▼ + stars: | 2024-03-06 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Foot Locker — Shares tumbled about 9.7% after the sneaker retailer posted a holiday-quarter loss and provided weak guidance for the current year. CrowdStrike's adjusted earnings of 95 cents per share surpassed an LSEG consensus estimate of 82 cents per share. The firm's $845 million in revenue was also higher than the estimated $839 million. That's higher than analysts' calls for $1.65 per share on revenue of $5.81 billion, according to LSEG. Box — The stock added 2.9% after matching fourth-quarter revenue expectations, according to LSEG.

Persons: Foot, CrowdStrike, Palantir, ChargePoint, FactSet, Ross, Bitcoin, Nordstrom, —, Jesse Pound, Michelle Fox Theobald Organizations: —, U.S . Army, Tactical Intelligence, Ross, OpenAI, Nordstrom

☆ Stocks making the biggest moves after hours: Nordstrom, CrowdStrike, Box and more
▼ + stars: | 2024-03-05 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +1 min

Ross earned $1.82 per share on $6.02 billion of revenue, higher than the $1.65 per share on revenue of $5.81 billion that analysts had expected, according to LSEG. CrowdStrike — The cybersecurity stock soared 19% after fourth-quarter earnings topped estimates. Nordstrom — Despite beating fourth-quarter earnings and revenue expectations, shares slid nearly 10% after the department store chain provided disappointing full-year 2024 guidance. HashiCorp — Shares of the software company added 1% after fourth-quarter earnings and revenue topped estimates. Box — The cloud storage stock jumped 8% after posting fourth-quarter revenue that matched analyst expectations, according to LSEG.

Persons: Ross, CrowdStrike, LSEG, Nordstrom, HashiCorp Organizations: OpenAI

☆ This stock market is 'toppy' — not bubbly — and there is a very big difference
▼ + stars: | 2024-03-05 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

"This is not bubbly, it's toppy and there's a very big difference," Jim Cramer said. For the uninitiated, "toppy" is financial slang for a stock market that climbs to new highs and then falls back. Toppy, toppy, toppy." The energy, consumer staples, utilities, and financial sectors were positive despite the weak market action. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, we've, Nordstrom, Crowdstrike, Locker, Jim Cramer's, Jim, David Paul Morris Organizations: CNBC, Ross Stores, Jim Cramer's Charitable, Bloomberg, Getty

☆ How Lido Advisors' Gina Sanchez would trade retail stocks
▼ + stars: | 2024-03-04 | 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 EmailHow Lido Advisors' Gina Sanchez would trade retail stocksGina Sanchez, Lido Advisors chief market strategist, joins 'The Exchange' to discuss how to trade Ross Stores, Target, Costco, and Nordstrom.

Persons: Gina Sanchez, Nordstrom Organizations: Lido Advisors, Ross Stores, Target, Costco

☆ Fed Chair Powell and jobs data take center stage next week as Wall Street weighs interest rate outlook
▼ + stars: | 2024-03-01 | by ( Sarah Min | ) www.cnbc.com time to read: +8 min

Next week, the first full trading week of March, macroeconomic concerns will take center stage for investors. Next week, the Fed chief is largely anticipated to stick to the same talking points in testifying before Congress. In fact, the February jobs report, due out next Friday, is expected to show a moderation in payroll gains. Hourly Earnings preliminary (February) 8:30 a.m. Average Workweek preliminary (February) 8:30 a.m. Manufacturing Payrolls (February) 8:30 a.m. Nonfarm Payrolls (February) 8:30 a.m. Private Nonfarm Payrolls (February) 8:30 a.m. Unemployment Rate (February) — CNBC's Michael Bloom, Jeff Cox and Yun Li contributed to this report.

Persons: Jerome Powell, Powell, Shannon Saccocia, Kim Forrest, Webull, Michael Hartnett, CNBC's Yun Li, Melissa Brown, Brown, Wealth's Saccocia, Saccocia, Nonfarm Payrolls, —, Michael Bloom, Jeff Cox, Yun Li Organizations: Federal, Fed, Capitol, Nasdaq, Dow Jones, FactSet, Barclays, Bokeh Capital Partners, Labor Department, Bitcoin, BofA Global Research, Apple, Nvidia, Ross Stores, Costco Wholesale, Kroger, . Semiconductor, Broadcom, PMI, PMI Services, Services PMI, Ross, Target, ADP, Labor, Consumer Credit Locations: U.S, REITs, Japan

☆ Here are Friday's biggest analyst calls: Rivian, DraftKings, Nio, Fox, Carvana, Pfizer and more
▼ + stars: | 2024-02-23 | by ( Alex Harring | ) www.cnbc.com time to read: +9 min

Here are Friday's biggest calls on Wall Street: UBS double-downgrades Rivian The firm said to sell the electric vehicle maker's stock, joining a growing group of concerned analysts following the company's earnings report. Raymond James upgrades Carvana The investment bank moved Carvana to market perform from underperform following the fourth-quarter earnings results. Guggenheim initiates Pfizer The firm opened coverage of the biopharmaceutical stock with a buy rating and $36 price target. " Rosenblatt initiates Adeia The firm began coverage with a buy rating and $15 price target. Roth MKM initiates CPI Card Group Roth MKM started coverage of the financial technology stock with a buy rating and $40 price target.

Persons: Ross, ROST, Raymond James, EBITDA, 4Q23, Guggenheim, ATNI, Morgan Stanley, Brighthouse, Rosenblatt, Roth MKM, Fred Imbert Organizations: UBS, Barclays, CNBC, Citi, Fox, JV, Ross, Price, Pfizer, DRG, Equitable, JPMorgan, Traction, JPMorgan downgrades Locations: 1Q24, Xperi, 4Q22

☆ Inventory problems at Children's Place could benefit our red-hot off-price retail stock
▼ + stars: | 2024-02-09 | by ( Jeff Marks | ) www.cnbc.com time to read: +5 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. We have our buy-equivalent 1 rating on TJX stock. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, BURL, ROST, TJX, Estee Lauder, Fabrizio Freda, Jim, we'll, I'm, Cramer, Jim Cramer's Organizations: CNBC, Bank of America, Ross Stores, TJX, Marshalls, Nvidia, Club, Broadcom, Marvell, Pepsi, PepsiCo, L'Oreal, Dow, Cisco Systems, Materials, Molson Coors, MGM Resorts, Cisco, Reuters, Jim Cramer's Charitable Locations: We're, Burlington, Maxx

Brokerage TD Cowen lowered its U.S. holiday spending estimate to 2% to 3% growth, from 4% to 5%, as it forecast flat Black Friday traffic. With many consumers squeezed by persistent inflation and high interest rates, U.S. holiday spending is expected to rise at the slowest pace in five years. But at 6 a.m. on Friday at a Walmart in New Milford, Connecticut, the parking lot was only half full. "It's a lot quieter this year, a lot quieter," said shopper Theresa Forsberg, who visits the same five stores with her family at dawn every Black Friday. The rise of online shopping has reduced the importance of Black Friday as a single-day event.

Persons: Cowen, David Klink, ”, Barbara Kahn, Theresa Forsberg, Michael Brown, Kearney, Jimmy Lee, Leah Millis, there's, Jeff Gennette, Bergdorf Goodman, Nordstrom, Oscar de, Carlos Araejo, Ruiz, It’s, Paul Aheren, Puma, Siddharth Cavale, Helen Reid, Arriana McLymore, Katherine Masters, Andrew Hay, Bianca Flowers, Danielle Broadway, James Davey, Deborah Sophia, Miral Fahmy, Nick Zieminski, Frances Kerry, Leslie Adler Organizations: Shoppers, Huntington Private Bank, Walmart, Target, Ross Stores, The Wharton School, University of Pennsylvania, “, National Retail Federation, Garden, Insider Intelligence, Adobe Analytics, Adobe, Wealth Consulting, Amazon, REUTERS, Nordstrom, Saks, Protesters, Puma, Israel Football Association, Thomson Locations: RALEIGH, N.C, U.S, New Milford , Connecticut, Paramus , New Jersey, Wheaton, Glenmont , Maryland, Indianapolis, Israel, Palestine, United States, Dallas, Raleigh, Crabtree, Boston

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