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☆ CIO shares Nvidia alternatives to cash in on the AI theme: 'There's another way to play this'
▼ + stars: | 2024-05-24 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Its shares jumped in extended trading but given the "blowout earnings," Nancy Tengler of Laffer Tengler Investments said she expected to see a higher move. "We think there's another way to play this," she said, adding these are namely buying into "old economy companies," as well as data center names. One such "old economy" name is Walmart , according to her. They've embraced not only digital solutions, but robotics, generative AI and their ad business in cloud computing, obviously in their e-commerce business," she said. Quanta Services , which builds infrastructure for electric power and renewables, as well as provides utility performance services, was another pick from Tengler.

Persons: Nancy Tengler, CNBC's, They've, Tengler, Kif Leswing Organizations: Nvidia, Google, Microsoft, Meta, Investments, Walmart, Carrier, Oracle, Broadcom

☆ Advertisers boost spending at retailers such as Walmart and Amazon as TV shrinks
▼ + stars: | 2024-05-24 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +2 min

Global retail media ad spending is expected to more than double from $114.18 billion in 2023 to $233.89 billion in 2027, according to eMarketer. Retail media is expected to represent a larger percentage of digital advertising spending, which has begun to eclipse traditional media spending, growing from 18.9% of that segment in 2023 to 25.7% in 2027, according to eMarketer. "What we hear from brands most directly is they no longer wake up with a recipe to buy X amount of TV, X amount of social, X amount of digital. GSTV screens reach 115 million viewers per month across 49 states. "It's the new TV for mass reach advertising," said Mark Boidman, head of media and entertainment investment banking at Solomon Partners.

Persons: Sean McCaffrey, McCaffrey, Mark Boidman Organizations: Television, Facebook, Walmart, Kroger, WPP, Global, Brands, Solomon Partners Locations: eMarketer, It's

☆ Walmart and Target are slashing prices. What does that mean for inflation?
▼ + stars: | 2024-05-23 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

That doesn’t mean the battle against inflation is won. Walmart saw first-quarter sales at stores open at least a year climb 3.8% from the prior year, in part thanks to its ability to keep prices low even as inflation remains sticky. “Our combination of everyday low prices plus a large number of rollbacks is resonating” with consumers, Walmart CEO Doug McMillon said on a call with analysts. Investors will get more inflation data next week from the Personal Consumption Expenditures index for April. Without that discount, the combined fine would have topped £88 million ($112 million).

Persons: Doug McMillon, Price, we’re, ”, Preston Caldwell, Scarlett Johansson, Will Scarlett Johansson, OpenAI, Johansson, OpenAI’s, Sam Altman, Brian Fung, OpenAI didn’t, Anna Cooban, “ Organizations: CNN Business, Bell, New York CNN, Walmart, Ikea, Aldi, Morningstar Research Services, Bureau of Labor Statistics, Investors, Citi, Citigroup, Financial Conduct Authority, Bank of England’s Prudential, Authority, CNN Locations: New York, United States

☆ What Nvidia's stock split means for retail investors
▼ + stars: | 2024-05-23 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Nvidia's upcoming stock split could propel the chipmaker higher over the short run and boost already enthusiastic investor sentiment, according to Wall Street. Nvidia's results prompted many Wall Street firms to boost their price targets on the stock as demand continues. While a split may improve accessibility by lowering the share price, it doesn't alter the value or fundamentals of the business. Citi's Atif Malik called the split a "positive surprise," while Susquehanna's Christopher Rolland said it "invigorates the retail crowd." "The 10:1 stock split likely adds short-term momentum to this AI bellwether," said Needham's Quinn Bolton.

Persons: Baruah, Citi's Atif Malik, Susquehanna's Christopher Rolland, Needham's Quinn Bolton Organizations: Semiconductor, Walmart, Lam Research, Nvidia

☆ Target shares slide as consumers buy fewer groceries and home goods
▼ + stars: | 2024-05-22 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +3 min

Target on Wednesday posted a year-over-year sales decline and missed Wall Street's earnings estimates, as consumers fatigued from high prices bought both fewer discretionary items and groceries. On a call with reporters, CEO Brian Cornell said the company's results reflect "continued soft trends in discretionary categories." Target also announced Monday it was cutting prices on thousands of everyday items, including milk, bread, paper towels and diapers. Like other retailers, Target has tried to win over consumers who are not spending as freely on clothing, home goods or other discretionary items. Walmart, for example, has gained market share from higher-income shoppers and recently introduced a premium food brand with most items under $5.

Persons: Brian Cornell, John David Rainey Organizations: Target, LSEG, Walmart, Aldi Locations: Miami , Florida, Minneapolis

Against this backdrop, CNBC Pro screened the SPDR S & P Retail ETF (XRT) for stocks that were forming a death cross chart pattern. We found five SPDR S & P Retail ETF (XRT) components, including Ulta Beauty , that are on the verge of a death cross pattern — and one that has already formed one. Ulta Beauty Shares of cosmetic retailer Ulta have slipped more than 22% in 2024. Other stocks nearing a death cross pattern include National Vision Holdings and Academy Sports & Outdoor . Dollar Tree Dollar Tree , however, has already formed a death cross chart pattern.

Persons: Mark Astrachan, Astrachan Organizations: Walmart, Lowe's, CNBC Pro, P Retail, National Vision Holdings, Academy Sports

☆ Walmart's crushing it while Target's putting up largely in-line results, says Jim Cramer
▼ + stars: | 2024-05-22 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Walmart's crushing it while Target's putting up largely in-line results, says Jim Cramer'Mad Money' host Jim Cramer compares the recent performance of big box retailers Walmart and Target to each other.

Persons: Jim Cramer Organizations: Walmart, Target

☆ Jim Cramer says soft Target quarter makes Walmart earnings look even better
▼ + stars: | 2024-05-22 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +1 min

Jim Cramer's daily rapid fire looks at stocks in the news outside the CNBC Investing Club portfolio. Target : Shares were dropping 7% after the retailer on Wednesday reported a soft quarter and missed on earnings for the first time since November 2022. "It just wasn't as strong as the other guys," Jim Cramer said Wednesday. " Williams-Sonoma : The company behind Williams Sonoma, Pottery Barn, and West Elm delivered a huge quarter earnings beat on inline revenue. It's really a terrific situation," Cramer said.

Persons: Jim Cramer's, Jim Cramer, Sun Choe, Cramer, Anthro, Williams, Elm Organizations: CNBC, Club, Target, Walmart, Wall Street Journal, Toll, Urban, Urban Outfitters Locations: Sonoma, Williams Sonoma

☆ Widlitz: The real winner for Target is their Circle 360 program
▼ + stars: | 2024-05-22 | 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 EmailWidlitz: The real winner for Target is their Circle 360 programStacey Widlitz, President of SW Retail Advisors, discusses Target's earnings report and competition with Walmart.

Persons: Stacey Widlitz Organizations: Target, Retail Advisors, Walmart

☆ Why Target and McDonald's are cutting prices and offering deals
▼ + stars: | 2024-05-22 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +2 min

Target 's weak quarterly earnings underscored why it cut prices on thousands of household staples: It's struggling to win over bargain hunters. Elsewhere, Aldi dropped prices earlier this month on more than 250 items, including chicken, steak, granola bars and frozen blueberries. Target made its move on Monday, saying it has already reduced prices on about 1,500 items and plans to cut prices on thousands more this summer. Multiple major grocers and restaurants cutting prices or offering deals could offer relief at the checkout, at a time when consumer prices are still climbing more than 3% from last year. The company declined to share details of that split, but Chief Growth Officer Christina Hennington said Target's vendors know the company is committed to passing on savings to its customers to drive traffic.

Persons: Target's, Christina Hennington Organizations: Walmart, Aldi, Federal Reserve

☆ E.l.f. Beauty posts first $1 billion year, but shares fall on weaker-than-expected guidance
▼ + stars: | 2024-05-22 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

Beauty posted its first billion-dollar fiscal year on Wednesday as sales spiked 77%, but the retailer's shares fell as it said it expects its growth to slow. Sales rose to $321.1 million, up about 71% from $187.4 million a year earlier. For the full year, the company's sales grew to $1.02 billion, an increase of 77% from the year-ago period. Its guidance reflects that sentiment, but even so, the company expects to grow at a slower pace than Wall Street anticipated. expects net sales to be between $1.23 billion and $1.25 billion, which would be an increase of 20% to 22%.

Persons: Tarang Amin, Dave Kimbell, Estée Lauder, Coty, Kimbell, JPMorgan Chase, Read Organizations: LSEG, Walmart, Target, Wall, JPMorgan Locations: E.l.f

☆ Final Trades: Walmart, Vertex and the SMH
▼ + stars: | 2024-05-22 | 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 EmailFinal Trades: Walmart, Vertex and the SMHThe Investment Committee gives you their top stocks to watch for the second half.

Organizations: Walmart, Investment

☆ Inflation is biting into Target’s ‘Tar-zhay’ luster
▼ + stars: | 2024-05-22 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

New York CNN —Target has spent decades building a reputation for cheap chic home goods, clothing and other merchandise. It was the fourth-straight quarter of sales declines at Target (TGT). More than half of Target’s merchandise is discretionary. Target is trying to lure back shoppers by cutting prices on some key items and adding its own brands. The company also recently created a new house brand called Dealworthy to take on dollar stores and Walmart.

Persons: Target, pare Organizations: New, New York CNN — Target, Walmart, Costco, Target Locations: New York

☆ Target comparable sales have dropped for 4 straight quarters, and it's scrambling to avoid a 5th
▼ + stars: | 2024-05-22 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +3 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewTarget reported $24.5 billion in revenue last quarter, with comparable sales down 3.7%, marking the fourth consecutive quarter of decline. Unlike total sales, comparable sales exclude new and closed stores, and analysts commonly use the measure to assess a business' underlying health. AdvertisementThe company also revamped and expanded its membership program, Target Circle, adding over a million new shoppers last quarter. "We're encouraged by the meaningful progress we've seen in recent quarters," Cornell said.

Persons: —, Brian Cornell, Cornell, Jack children's, We're Organizations: Service, Business, Walmart, Amazon Prime, Target

☆ Walmart just opened two new Neighborhood Markets with a larger layout. Take a look.
▼ + stars: | 2024-05-21 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +1 min

The first two new stores in Walmart's 150-location plan have opened in Florida and Georgia. The Neighborhood Markets are almost 50 percent larger than Walmart's typical grocery-focused store. Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. AdvertisementThe first two locations in Walmart's five-year, 150-store expansion plan have opened in Florida and Georgia. The pair of grocery-focused stores are the first new openings in Walmart's Neighborhood Market segment in more than four years.

Persons: — Organizations: Service, Business Locations: Florida, Georgia

☆ Nestle to launch Vital Pursuit frozen-food brand targeting GLP-1 users
▼ + stars: | 2024-05-21 | by ( Amelia Lucas | ) www.cnbc.com time to read: +3 min

Nestle is launching a new frozen-food brand, Vital Pursuit, aimed at the growing market of consumers who are using GLP-1 drugs like Ozempic and Wegovy. In October, Walmart's U.S. CEO John Furner told Bloomberg that people who pick up GLP-1 drugs from its pharmacies are buying less food, typically with fewer calories. But Nestle sees an opportunity to cater to those consumers through Vital Pursuit. Vital Pursuit's packaging won't include mentions of GLP-1 medications, but Nestle said the company will more directly connect the brand to the drugs on social media. The food company expects that its global growth will slow this year as inflation-weary consumers buy less of its products.

Persons: Oprah Winfrey, Elon, Morgan Stanley, John Furner, Nestle, Steve Presley, Laffy, Ferrero, Presley Organizations: Nestle, Walmart's U.S, Bloomberg, Vital, North, CNBC, Toll, Lean, Swiss Locations: U.S, GLP

Walmart heiress Alice Walton is the second-richest woman in the world, with an estimated $84 billion net worth. AdvertisementAlice Walton, the only female heiress to the Walmart fortune, is one of the richest women in the world. The three Walmart heirs — Rob Walton, Jim Walton, and Alice Walton — have a combined wealth of more than $250 billion, according to the Bloomberg Billionaires Index. The 74-year-old Alice Walton has an estimated fortune worth $84 billion and ranks 19th on Bloomberg's list. She's the second-richest woman in the world, behind only L'Oréal heiress Françoise Bettencourt Meyers.

Persons: Alice Walton, —, Rob Walton, Jim Walton, Alice Walton —, Françoise Bettencourt Meyers Organizations: Service, Walmart, Bloomberg, Business

☆ Target is cutting prices on up to 5,000 items to lure back inflation-wary shoppers
▼ + stars: | 2024-05-20 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Target has slashed prices on more than 1,500 popular items beginning immediately, ranging from butter to laundry detergent, as the retailer attempts to attract inflation-wary shoppers turned off by high prices. Prices have dropped effective Monday, with “thousands more price cuts” — amounting to 5,000 items — being reduced over the summer, the retailer announced. Retail sales growth has taken a hit because of high prices: Last month, retail sales were unchanged from March, when spending increased by a downwardly revised 0.6%, the Commerce Department recently reported. By comparison, a year ago, retail sales surged by 3%. In response, Target recently created a new house brand called Dealworthy to take on dollar stores and Walmart.

Persons: Sarah Wyeth Organizations: New, New York CNN — Target, Ikea, Aldi, Shoppers, CNN, Commerce Department, Target, Walmart Locations: New York

"Consumers continue to be even more discriminating with every dollar that they spend as they faced elevated prices in their day-to-day spending," McDonald's CEO Chris Kempczinski said on the company's conference call in late April. Paul Weaver | SOPA Images | Getty ImagesFor more than two years, consumers have dealt with sharply rising prices. But that doesn't mean the actual prices seen on grocery store shelves or restaurant menus will fall, and shoppers are feeling that pinch. While some CEOs have said that consumers are growing more cautious, others — like those in the airline industry — have celebrated strong and persistent spending. Corporate misfires can also lead to disappointing sales, even if their shoppers aren't necessarily pulling back on their spending.

Persons: Chris Kempczinski, Burger, Paul Weaver, Jerome Powell, Aurelia Concepcion, Concepcion, it's, Joe Raedle, Brett House, John David Rainey, Ramon Laguarta, Ed Bastian, We're, Daniel Slim, Brian Niccol, Calvin McDonald, Laxman Narasimhan, Sara Senatore, Spencer Platt Organizations: DAL, Washington Post, Home, Delta Air Lines, Consumers, of Labor, CPI, KFC, Starbucks, Columbia Business School, Walmart, Finance, CNBC, PepsiCo, Gatorade, Pepsi, United, Delta Airlines Boeing, Owen Roberts International, AFP, Getty, Delta, Target, Bank of America Locations: Manhattan, Bloomsburg , Pennsylvania, New York, Georgia, Ohio, Miami , Florida, U.S, Delta, Europe, Asia, Japan, George Town, Cayman Islands, New York City

☆ Inside Chef Carla Hall's fridge, from Costco staples to the one thing she always buys on sale
▼ + stars: | 2024-05-20 | by ( Lizzy Briskin | ) www.businessinsider.com time to read: +6 min

Hall's fridge is a trove of fun finds, from condiments we know and love to fancy European butter and an ample supply of eggs. AdvertisementA peek inside Carla Hall's fridge. Carla HallSundae fixingsCarla Hall's fridge had a few ice-cream flavors. "The one thing that I get when it's on sale is any kind of European-style butter," Hall said. AdvertisementMystery leftoversIf you're curious about the container with reddish contents in the center of Hall's fridge, join the club.

Persons: —, Carla Hall, Hall's, Carla Hall Sundae, Carla Hall's, Tyler Le, Ben, She's, Grey Poupon, Heinz, Grey Poupon Dijon, Amaro, amaro, unsalted Organizations: Service, Business, QVC, Walmart, Safeway, Costco Locations: gander, Washington ,, Jeni's, Tillamook, Southern

☆ What Walmart's RTO mandate is really about
▼ + stars: | 2024-05-20 | by ( Dominick Reuter | Tim Paradis | ) www.businessinsider.com time to read: +7 min

Walmart's chief people officer, Donna Morris, commented similarly in a memo announcing the layoffs and relocations earlier that week. She wrote that working in an office would help workers collaborate, innovate, and "move even faster." Still, some employees continued working remotely, and several satellite offices remained open in cities like Atlanta, Dallas, Toronto, and Seattle. He also said he doesn't think the company is using this RTO mandate as a cover for achieving cost savings through workforce reductions, commonly referred to as "quiet firing," but that it's more part of Walmart's ethos. For the remote worker BI spoke with, the next few weeks will be filled with uncertainty.

Persons: —, it's, Sam Walton, Nelson Lichtenstein, Doug McMillon, Donna Morris, Morris, Suresh Kumar, Walmart's, Kumar, Kelli Oakes, she'd, I'm, Oakes, Lichtenstein, there's, Gartner Organizations: Service, Walmart, Business, University of California, Executives, BI, Home, LinkedIn, Walmart Global Tech, Sam's Club, UC Locations: Arkansas, Bentonville , Arkansas, New York, San Francisco, Santa Barbara, Bentonville, Atlanta, Dallas, Toronto, Seattle, Bay, Hoboken , New Jersey, South Carolina, Northwest Arkansas

☆ Target lowering prices on 5,000 frequently bought items
▼ + stars: | 2024-05-20 | by ( Rob Wile | ) www.cnbc.com time to read: +2 min

Target said Monday it will lower prices on approximately 5,000 frequently bought items as it seeks to stay competitive amid signs consumers are experiencing price fatigue. It had already cut prices on some 1,500 other items. "Our teams work hard to deliver great value every day, and these new lower prices across thousands of items will add up to additional big savings for the millions of consumers that shop Target each week for their everyday needs." As the rate of annual inflation remains stuck above 3% and the Fed's key interest rate remains unchanged, many consumers are starting to pull back on spending and becoming more selective about what they purchase. One of Target's chief competitors, Walmart , recently signaled that even higher-income consumers were turning toward its offerings as "wallets are still stretched."

Persons: Rick Gomez, Chris Kempczinski, We've, Jack Rainey Organizations: Walmart, CNBC

☆ Meet 10 of the world's richest women, worth a combined $500 billion
▼ + stars: | 2024-05-19 | by ( George Glover | ) www.businessinsider.com time to read: +1 min

The top 10 women on the Bloomberg Billionaires Index are worth just over $500 billion combined. Walmart heiress Alice Walton and Fidelity CEO Abigail Johnson are both on the list. Take a closer look at some of the world's richest women. AdvertisementL'Oréal's biggest shareholder, a Walmart heir, and the CEO of Fidelity are among the 10 richest women in the world, according to the Bloomberg Billionaires Index. They've each amassed fortunes of more than $25 billion — and are worth a staggering $500 billion combined.

Persons: Alice Walton, Abigail Johnson, — Organizations: Bloomberg, Walmart, Fidelity, Service

☆ Wealthy Americans are starting to spend more carefully
▼ + stars: | 2024-05-19 | by ( Bryan Mena | ) edition.cnn.com time to read: +7 min

A robust stock market coupled with rising home values have boosted Americans’ wealth from 2019 through 2022, according to a Federal Reserve report on household finances. There’s been some evidence of wealthy Americans growing cautious in the latest round of company earnings results. Federal Reserve officials Michael Barr, Christopher Waller, Philip Jefferson and Raphael Bostic deliver remarks. Federal Reserve officials Christopher Waller, John Williams, Raphael Bostic, Michael Barr, Loretta Mester and Susan Collins deliver remarks. The Federal Reserve release minutes from its May policymaking meeting.

Persons: they’ve, “, ” Nanette Abuhoff Jacobson, There’s, ” Jonathan Akeroyd, Moet, The Beverly Hilton, Michael Kovac, LVMH Moët Hennessy Louis Vuitton, ”, Jacobson, ’ Ariel Barnes, Barnes, ” Barnes, Baby Boomer, Xers, Matt Egan, Read, Michael Barr, Christopher Waller, Philip Jefferson, Raphael Bostic, John Williams, Loretta Mester, Susan Collins, Robin, Ralph Lauren, Booz Allen Hamilton, Buckle Organizations: CNN Business, Bell, Washington CNN, Federal, Fed, Hartford Funds, CNN, Burberry, The Beverly, The Beverly Hilton Hotel, Walmart, Royal Caribbean Cruises, Jackson State University, Federal Reserve Bank of New, Palo Alto Networks, Urban Outfitters, NVIDIA, National Statistics, National Association of Realtors, Reserve, Intuit, US Labor Department, Chicago Fed, Global, US Commerce Department, Atlanta Fed, Booz, University of Michigan Locations: Washington, British, Americas, Beverly Hills , California, Jackson , Mississippi, Federal Reserve Bank of New York, Palo, Ross, Burlington

☆ I used bots to work for Instacart. You need one to make the job worthwhile.
▼ + stars: | 2024-05-19 | by ( Alex Bitter | ) www.businessinsider.com time to read: +5 min

Business Insider has verified his identity and his use of two bots designed for gig delivery apps. I found this guy who writes some articles on gig work, and he talked about having access to bots for Instacart. AdvertisementThe biggest reason I purchased it was because you just have to keep refreshing the screen to get orders on Instacart. AdvertisementAn Instacart spokesperson told BI: "This shopper was deactivated from our platform for blatant and abusive violations of our terms of service." Do you work for Instacart, DoorDash, Walmart Spark, or another gig delivery service and have a story idea to share?

Persons: Ted Rosner, That's, Instacart, I've, it's Organizations: Service, Business, Walmart Locations: Washington, DC, Instacart, DoorDash

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