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☆ U.S. consumer plays in China are more than coffee and iPhones. Stocks to watch
▼ + stars: | 2024-03-31 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Domino's Pizza's China operator DPC Dash reported Wednesday its 26th straight quarter of same-store sales growth — including the pandemic period. Pizza push Domino's has a roughly 14% stake in DPC Dash, which listed in Hong Kong about a year ago. Woo has a buy rating on DPC Dash and a price target of 73.05 Hong Kong dollars. "Chinese people do eat pizza," DPC Dash CEO Wang said. Yum China, which owns Pizza Hut in China among other brands, is set to release earnings in late April.

Persons: DPC Dash, they've, Xi Jinping, Papa John's, Papa, DPC, Aileen Wang, Wang, Walter Woo, Woo, McDonald's, That's, Christopher J, Kempczinski Organizations: Starbucks, Apple, HSBC, U.S, DPC, Advertising, Hong, Hong Kong Stock Exchange Locations: China, Shanghai, U.S, DPC, Hong Kong, North America, Beijing, Xi'an, Changsha, FY24E, Thurs

☆ Foot Locker's post-earnings plunge could be setting up a buying opportunity
▼ + stars: | 2024-03-06 | by ( Zev Fima | ) www.cnbc.com time to read: +9 min

The company's long-term goal, as part of Foot Locker's "Lace Up" turnaround plan, is to achieve $350 million in operating cost savings. Digital sales now represent nearly 20% of Foot Locker's total sales, Dillon said on the call. Still, the bright spots were not enough to block out the sting from Foot Locker's guidance. By store, in North America, same-store-sales were up 4.8% at Foot Locker and 6.9% at Kids Foot Locker. A Foot Locker store near the Times Square neighborhood of New York, US, on Monday, Nov. 13, 2023.

Persons: Locker, —, Mary Dillon, Dillon, we've, Foot, FactSet, Jim Cramer's, Jim Cramer, Jim, Bing Guan Organizations: Nike, Revenue, SG, Wall Street, CNBC, Bloomberg, Getty Locations: North America, —, Middle East, Africa, Asia, Pacific, New York

☆ Evercore ISI says sell these two retail giants ahead of earnings on the shaky consumer
▼ + stars: | 2024-02-14 | by ( Brian Evans | ) www.cnbc.com time to read: +2 min

Evercore is moving to the sidelines on Target and Walmart due to potentially weaker consumer spending. Housing costs remain high, the analyst said, which could hurt consumer spending. Shares of Walmart have ticked up roughly 7% from the start of the year, while Target stock has climbed more than 2%. Evercore maintains an in line rating on Target stock with a $156 per share price target, or about 7% upside. On Walmart, Evercore is standing by an outperform rating with a $182 per share price target, which represents roughly 8% upside.

Persons: Evercore's cautiousness, Greg Melich, Melich, Evercore, — CNBC's Michael Bloom Organizations: Target, Walmart, Evercore

☆ Wednesday analyst calls: JPMorgan downgrades New York Community Bancorp, Eli Lilly gets big boost
▼ + stars: | 2024-02-07 | by ( Pia Singh | ) www.cnbc.com time to read: +8 min

Troubled regional bank New York Community Bank faced a downgrade from JPMorgan, which said NYCB is facing a multitude of challenges. The firm upped its price target for the drug maker to $850, all the way from $200. Wells Fargo : Analyst Zachary Fadem kept his overweight rating and raised his target price by $200 to $2,800, implying 12.5% upside for shares. "After speaking to management, we confirmed these two executives had indeed left the company, wrote JPMorgan analyst Steven Alexopoulos. NXP's stock price is down 2.9% for the year, but still higher than 15% over the past 12 months.

Persons: Eli Lilly, Eric Gonzalez, Gonzalez, Wells, Zachary Fadem, Sara Senatore, Chipotle, — Pia Singh, JPMorgan downgrades, Steven Alexopoulos, Alexopoulos, John Melloy, Vivek Arya, Arya, Robyn Karnauskas, Karnauskas, Zepbound Organizations: CNBC, New York Community Bank, JPMorgan, Pharma, Truist Securities, Semiconductors, Bank of America, KeyBanc, Barclays, New York Community Bank JPMorgan, New, Community Bank, Financial Times, Bloomberg News, New York Community Bancorp, Battery Management Systems, Food and Drug Administration Locations: Wells Fargo, Tuesday's

☆ Lowe's sees steeper drop in annual sales as DIY demand stumbles
▼ + stars: | 2023-11-21 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

REUTERS/Mark Makela/File Photo Acquire Licensing RightsNov 21 (Reuters) - Lowe's Cos (LOW.N) on Tuesday projected a bigger drop in annual same-store sales than previously expected, as inflation-hit consumers cut spending on home-improvement projects, hitting the company's key do-it-yourself (DIY) business segment. Lowe's saw a "greater-than-expected pullback in DIY discretionary spending" particularly in categories including appliances, home decor, kitchen and bath where customers even postponed some purchases, CEO Marvin Ellison said. Average spending at Lowe's - particularly on big-ticket items - was under pressure in the quarter, resulting in a 7.4% drop in same-store sales while analysts expected a 5% decline, according to LSEG IBES data. Meanwhile, larger rival Home Depot's (HD.N) bigger customer base of "Pro-customers" like builders and contractors helped the retailer ride out the weakness in DIY spending and beat expectations for quarterly results. It expects full-year comparable sales to decline 5%, compared with its prior outlook for a 2% to 4% drop.

Persons: Mark Makela, Cos, Lowe's, Marvin Ellison, Ellison, John Tomlinson, Deborah Sophia, Anil D'Silva Organizations: REUTERS, Reuters, Thomson Locations: Philadelphia , Pennsylvania, U.S, Lowe's, Bengaluru

Wednesday's batch of analyst research included bullish calls on a credit card giant and a sports betting name. The firm downgraded the pharmaceutical stock to neutral from overweight and lowered its price target to $55 per share from $68. The bank downgraded the Canadian Solar to underweight from neutral in a Wednesday note and lowered its price target to $22 per share from $32. The analyst noted that the guidance given confirms his bull case for the stock, which consists of a $70 price target. The bank initiated coverage of the credit card giant with an overweight rating and a $184 per share price target — which implies more than 17% upside from Tuesday's close.

Persons: Morgan Stanley, Guggenheim, John DiFucci, there's, Brian Evans, Cantor Fitzgerald downgrades, Myers Squibb Cantor Fitzgerald, We've, Olivia Brayer, Myers Squibb, — Brian Evans, Julien Dumoulin, Smith, Wells, Omar Mejias, Mark Strouse, DraftKings, Stephen Grambling, Grambling, Fred Imbert, millennials, Z, Gen, Terry Ma Organizations: CNBC, Barclays, American Express, Guggenheim, FactSet, Myers Squibb, Bank of America, Wells Fargo, Warner Music Group, accel, JPMorgan, American Locations: Bristol, Generac, Europe, CSIQ

☆ Stocks making the biggest moves midday: Groupon, Wynn Resorts, Plug Power, Illumina and more
▼ + stars: | 2023-11-10 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Wynn Resorts — The resort-and-casino stock dropped 7.3% as analysts focused on EBITDAR, which includes restructuring, tied to its operations in Macao. Plug Power — Shares of the clean energy company tumbled more than 34%, reaching a new 52-week low, after third-quarter earnings and revenue missed analysts' estimates. TKO Group — The WWE parent slid 7.9% after Executive Chairman Vince McMahon said he planned to sell 8.4 million shares. Treace Medical Concepts — Shares tumbled 40% after the medical device company missed third-quarter expectations and lowered its full-year revenue guidance. The company also cut revenue guidance for the year.

Persons: Vince McMahon, Treace, Freyr, Wells, Synaptics, LSEG, Vera Therapeutics, Vera, —, Sarah Min, Hakyung Kim, Pia Singh Organizations: Wynn Resorts, Diageo —, Diageo, RBC, JPMorgan, WWE, Wall, Analysts, Jefferies Locations: billings, Macao, America, Caribbean, Wells Fargo, Hawaii

☆ Trade Desk shares fall 19% on lower guidance
▼ + stars: | 2023-11-10 | by ( Jake Piazza | In | ) www.cnbc.com time to read: +2 min

Shares of digital ad company The Trade Desk fell 19% Friday morning, a day after the company reported third-quarter results and issued weak revenue guidance. Analysts keyed in on the likelihood of softer ad spending in the December quarter. The Trade Desk is one of many companies that have cited weaker ad spending as a reason to exercise caution or temper expectations for the fourth quarter. Meta , Pinterest and Snap all expressed concern over disrupted ad spending due to the Israel-Hamas war. Wolfe Research analysts are concerned over the sustainability of The Trade Desk's growth in connected TV, which is a significant contributor to the company's revenue.

Persons: Wolfe, Needham, Jonathan Vanian, Michael Bloom Organizations: Trade, Wolfe Research, CTV, Needham Locations: Israel

☆ Trade Desk shares plunge about 30% on weak guidance tied to auto, Hollywood strikes
▼ + stars: | 2023-11-09 | by ( Jonathan Vanian | ) www.cnbc.com time to read: +3 min

The Trade Desk shares plunged about 30% in after-hours trading on Thursday after the ad-tech company issued fourth-quarter revenue guidance that fell well short of analysts' estimates. A Trade Desk spokesperson told CNBC that guidance came "in slightly below consensus, largely because the transitory cautiousness from advertisers in certain verticals, such as U.S. auto and media/entertainment due to the strikes." The United Auto Workers launched targeted strikes at select facilities against the Detroit automakers beginning Sept. 15, and then expanded the stoppages. Trade Desk said third-quarter sales jumped 25% from $493 million a year earlier. Net income increased to $39 million, or 8 cents a share, from $16 million, or 3 cents, a year earlier.

Persons: Jeff Green, Green, Susan Li Organizations: LSEG, CNBC, United Auto Workers, Detroit, UAW, General Motors, Ford Motor, Guild of America, Trade, Meta, Comcast, Cisco Systems Locations: Israel

☆ India shares close at two-week low as hawkish Fed spooks investors
▼ + stars: | 2023-09-21 | by ( Sethuraman N R | ) www.reuters.com time to read: +2 min

The new logo of the Bombay Stock Exchange (BSE) building is seen in Mumbai, India, July 12, 2023. Both the indexes fell for a third straight session on Thursday, losing as much as 1%. The Fed on Wednesday held key interest rates unchanged as widely expected, but warned that the battle against inflation was far from over. Higher interest rates dry up liquidity from the markets, increasing the cost of capital. The small-cap and mid-cap stocks fell 1.3% and 0.9% on Thursday, respectively.

Persons: Francis Mascarenhas, Siddhartha Khemka, Janane Organizations: Bombay Stock Exchange, REUTERS, Rights, U.S . Federal Reserve, BSE, Motilal Oswal Financial Services, Fed, . Banking, Sethuraman NR, Thomson Locations: Mumbai, India, Bengaluru

☆ US retail spending picked up in August, mostly due to sales at gas stations
▼ + stars: | 2023-09-14 | by ( Bryan Mena | ) edition.cnn.com time to read: +3 min

Washington, DC CNN —US retail sales picked in August, boosted by higher gas prices, as spending on other items grew modestly. Retail sales, which are adjusted for seasonal swings but not inflation, rose 0.6% in August, the Commerce Department reported Thursday. Excluding sales at gasoline stations, retail spending advanced a more modest 0.2% in August from July. Retail spending increased across most categories, including at restaurants and grocery stores. Online retail sales in August were flat, after jumping in July due to Amazon’s Prime Day promotional event.

Persons: That’s, It’s, “ Fitch, ”, David Silverman, Goldman Sachs, there’s, Lydia Boussour, “ Encouragingly, Boussour Organizations: DC CNN, Commerce Department, AAA, Federal Reserve, Fitch Locations: Washington, Libya, EY

☆ NATO's 2 least-friendly members have a history of aerial showdowns, and they're both about to get new stealth jets
▼ + stars: | 2023-09-12 | by ( Paul Iddon | ) www.businessinsider.com time to read: +7 min

Greece and Turkey both plan to roll out new stealth jets by the end of the decade. Greece is acquiring F-35s from the US, while Turkey is building the domestically designed TF Kaan. The TF KAAN at its presentation ceremony in Ankara on May 1. AdvertisementAdvertisementBohl said several factors could hinder timely production of the TF Kaan, including fiscal considerations, national spending priorities, and Ankara's foreign partnerships. Stealth jets over the AegeanAn F-16 with Greece's Zeus solo display team at an airshow in Pireus in November 2016.

Persons: Dhruv Gopinath, Pratt, Whitney, Ryan Bohl, RANE, Yavuz Ozden, Bohl, George Tzogopoulos, Tzogopoulos, Greece's, George Panagakis, Cuneyt Organizations: NATO, Service, US Air Force, Souda Air Base, Tech, Turkish Aerospace Industries, GE, East, TF, Hellenic Air Force, Turkish, BAE Systems, Stealth, Pacific Press, Getty, NATO Air Policing, Anadolu Agency, Ankara Locations: Greece, Turkey, Wall, Silicon, Dhruv Gopinath Athens, Ankara, North Africa, Turkish, Crete, Azerbaijan, Pakistan, Pireus, Athens, Malbork, Poland

☆ Stocks are heading for a down August as market kicks off September with jobs report
▼ + stars: | 2023-08-25 | by ( Sarah Min | ) www.cnbc.com time to read: +7 min

Regardless, the major averages are set to close a losing month as higher yields and Fitch downgrades weighed on equities this month. "Further cooling in the labor market and the services sector," said Brian Ellis, portfolio manager at Morgan Stanley Investment Management. The labor report will be preceded by the July personal consumption expenditures, or PCE, report on Thursday. In fact, many investors expect that the Federal Reserve is probably done hiking rates here as policymakers await the effects of higher rates on the real economy. Increasingly, investors are looking for opportunities in income as they deal with the possibility of higher rates for longer.

Persons: Jerome Powell, Jackson, Jay Hatfield, Fitch downgrades, nonfarm, Brian Ellis, Powell, Morgan, Ellis, Ben Kirby, that's, Thornburg's Kirby, Campbell Organizations: Federal, Nvidia, Nasdaq, Dow Jones, Capital Management, Dow Jones Industrial, FactSet, Morgan Stanley Investment Management, Federal Reserve, Thornburg Investment Management, Labor, Investors, Dallas Fed, Hewlett Packard Enterprise, HP, ADP, Costco, PCE, PCE Deflator, Chicago PMI, Dollar, Broadcom, Jobs, PMI, Manufacturing Locations: , Wyoming, U.S, cautiousness, Smucker, Chicago

☆ US retail spending picked up sharply in July
▼ + stars: | 2023-08-15 | by ( Bryan Mena | ) edition.cnn.com time to read: +4 min

It was also the fourth straight month that retail sales increased. Retail sales, which are adjusted for seasonality but not inflation, rose 0.7% in July from the prior month, the Commerce Department reported Tuesday. Spending rose on nondurable items, such as clothing and sporting goods. Excluding spending at gasoline stations, retail sales rose 0.8% in July from the prior month. “Goods consumption is holding up even as services spending has taken up an increasing share of household’s wallets.

Persons: —, TJ Maxx, ”, Nikki Baird, Barbie, Taylor, Beyoncé, Taylor Swift, Gregory Daco, haven’t, Wells Organizations: DC CNN, Retail, Commerce Department, Commerce, Walmart, Target, Federal Reserve, Wall Street, Fed, “ Retailers Locations: Washington, EY

☆ Stocks making the biggest moves after hours: Disney, Wynn Resorts, AppLovin and more
▼ + stars: | 2023-08-09 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Disney reported adjusted earnings of $1.03 a share, versus the 95 cents expected by analysts, per Refinitiv. Wynn Resorts reported adjusted earnings of 91 cents per share on revenue of $1.6 billion. AppLovin — AppLovin shares surged 22% on strong second-quarter results and optimistic third-quarter revenue guidance. The game developer said it expects $780 million to $800 million in revenue for the third quarter, ahead of the $741 million expected by analysts. The company expects full-year revenue to rise 1% year over year, versus the 7.1% uptick analysts expected, per Refinitiv.

Persons: Illumina, Sonos, Refinitiv Organizations: Dubai Opera, United Arab Emirates, Disney, Revenue, Wynn Resorts Locations: East, North Africa, Dubai, United Arab, China

"For China, it is 'bad news is good news' at the moment," said Jun Bei Liu, portfolio manager at Tribeca Investment Partners in Sydney. Even before the latest disappointing growth data, a slew of soft economic indicators had shown China's recovery was falling short, slamming the brakes on nascent stock market rallies. Foreign money has been leaving, with worries over China's cyber-security crackdowns and Sino-U.S. flaps over chips and rare metals adding to growth concerns. REVIEWING CHINAGoldman Sachs analysts led by Kinger Lau also believe a 'tactical market recovery' thesis is compelling, and project a 15% 12-month return for the CSI300. "We are conservative about the extent of the policy support down the road," said Alicia Garcia Herrero, chief economist, Asia Pacific at Natixis.

Persons: Jun Bei Liu, Liu, Marcella Chow, CHINA Goldman Sachs, Kinger Lau, it's, Mike Kelly, Alicia Garcia Herrero, Eugenia Victorino, SEB, Victorino, Ting Lu, Jason Xue, Tom Westbrook, Kim Coghill Organizations: Tribeca Investment Partners, CSI, Morgan Asset Management, CHINA, JPMorgan, PineBridge Investments, Nomura, Thomson Locations: China, Sydney, U.S, Asia, Natixis, Shanghai

☆ The Fed should take a hawkish pause in June meeting, says fmr. Fed President Robert Kaplan
▼ + stars: | 2023-06-07 | 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 EmailThe Fed should take a hawkish pause in June meeting, says fmr. Fed President Robert KaplanRobert Kaplan, fmr. president of the Federal Reserve Bank of Dallas, joins 'Power Lunch' to discuss the Fed's next move and banks cautiousness.

Persons: fmr, Robert Kaplan Robert Kaplan Organizations: Federal Reserve Bank of Dallas

☆ Wagner boss Prigozhin is going off the rails in Ukraine, and Putin may not have much choice but to let him, war expert says
▼ + stars: | 2023-05-13 | by ( Ryan Pickrell | ) www.businessinsider.com time to read: +12 min

Though he strikes hardest at the defense ministry, he has seemingly aimed his frustrations at Putin as well. During the intense fighting in Bakhmut, where the mercenaries have suffered tremendous losses, simmering tensions between the Russian defense ministry and the Wagner boss have boiled over. With the replacement of Gen. Sergei Surovikin, an infamous Russian leader pushed by ultranationalists like Prigozhin, in January, the Russian defense ministry retook control. The situation got so bad for Wagner at one point that expert observers speculated that the Russian military was purposefully decimating the group. Prigozhin said he was threatened with treason over his assertions that Wagner forces would pull out of Bakhmut.

☆ Problems are mounting in the economy, big companies say, and another Fed rate hike may be one too many
▼ + stars: | 2023-05-03 | by ( Eric Rosenbaum | ) www.cnbc.com time to read: +8 min

While that's good for them, it also means "we're definitely moving towards a slowdown," one CFO said. "They are trying to fight a problem but there's evidence around the U.S. that says the economy is slowing. One concern voiced by CFOs is that the top end of the consumer market has been masking deeper problems in the economy, with companies tracking a rise in credit delinquencies, and that is now starting to spread. But inside major corporations, executives say they see signs of mounting trouble for the economy and as another interest rate hike looms, it may be time for the Fed to stop. While traders are betting on rate cuts before year-end, the CNBC Fed Survey shows a belief from economists and money managers that the Fed will hold rates higher for eight months.

☆ This former Trump White House official says Republicans are 'such nerds' for pushing a 'ridiculous' ban on TikTok
▼ + stars: | 2023-04-06 | by ( Bryan Metzger | ) www.businessinsider.com time to read: +6 min

But John McEntee, a former Trump White House official, thinks that's "ridiculous." But John McEntee, who worked as a top White House staffer when former President Donald Trump attempted to ban the app via executive order, says he's unabashedly "pro-TikTok" and insists the push from the right to ban the Chinese-owned app is "ridiculous." "I think Republicans are such nerds for even doing this," McEntee, the one-time Director of the Official of Presidential Personnel, told Insider in an interview on Thursday. In that job, he reportedly scrutinized White House staffers for their perceived loyalty and played a significant role in the effort to pressure Vice President Mike Pence to overturn the election results on January 6, 2021. In one widely-viewed TikTok, McEntee dances to Demi Lovato's "La La Land" while riffing on liberals attending their first protest, making hand-horns as Lovato sings the phrase "converse with my dress."

☆ The Class of 2023 Faces a Jittery Job Market: ‘The World Seems to Have Flipped on Its Head.’
▼ + stars: | 2023-03-30 | by ( Lindsay Ellis | Kailyn Rhone | ) www.wsj.com time to read: 1 min

The Class of 2023 is getting ready to enter a job market that is suddenly less eager to hire new grads. Many employers are taking a go-slow approach to employing graduating seniors this year, college career offices say. The cautiousness marks a sharp reversal from the past two years, when companies often made offers barely weeks after school began and staged bidding wars over interns and graduating seniors.

☆ Bank of America upgrades Ralph Lauren, says apparel stock will differentiate itself in a promotional environment
▼ + stars: | 2023-02-13 | by ( Sarah Min | ) www.cnbc.com time to read: +1 min

Buy Ralph Lauren in a challenging retail environment, Bank of America says. Ralph Lauren shares have gained about 12% to start off 2023. Still, the analyst's $145 price target, raised from $130 previously, suggests shares can rise another 22% from Friday's closing price. The analyst approved of these changes, saying the moves will help Ralph Lauren distinguish itself from competitors. "We expect RL's brand elevation strategy will continue and that AUR and market share gains will drive consistent revenue growth," Nardone wrote.

☆ Why you won't see many car ads during Sunday's Super Bowl
▼ + stars: | 2023-02-10 | by ( Michael Wayland | ) www.cnbc.com time to read: +7 min

The average cost of a 30-second commercial during last year's Super Bowl was $6.5 million, up more than $2 million over 2016 rates. Automakers — historically among the largest Super Bowl advertisers — are mostly bypassing this Sunday's NFL championship game to preserve cash or spend ad dollars elsewhere. And EV startup Polestar, whose ad was a success in the 2022 Super Bowl, said it will also not advertise this year. Ferrell also appeared in GM's Super Bowl ad promoting EVs two years ago. Stellantis has not released its ads, while GM, Kia and WeatherTech released their commercials earlier this week.

☆ Dollar set for fourth monthly drop as Fed meeting looms
▼ + stars: | 2023-01-31 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

SINGAPORE, Jan 31 (Reuters) - The dollar was eyeing a fourth monthly loss on Tuesday as investors reckon a peak in U.S. interest rates could swing into view as soon as this week's Federal Reserve meeting. The U.S. dollar index is down 1.3% for January so far, though it rose 0.3% to 102.19 overnight. The Japanese yen fell 0.4% overnight but is set for its third monthly gain as markets anticipate shifts in monetary policy. Sterling and the Australian, New Zealand and Canadian dollars also made overnight losses but are set for monthly gains. Interest-rate futures indicate market expectations for a 25 basis point (bp) hike from the Federal Reserve to take the Fed funds rate window to 4.5%-4.75%.

☆ Here's what the Year of the Rabbit could symbolize
▼ + stars: | 2023-01-20 | by ( Kimmy Yam | Kimmy Yam Is A Reporter For Nbc Asian America. | ) www.nbcnews.com time to read: +5 min

It’s the Year of the Rabbit and we should all be focusing on rest, introspection and working smarter not harder. Though it was a weak swimmer, the rabbit used its brain, opting to cross the river portion of the course on a raft. … If you did just jump in because of FOMO, you’re going to have a whole slew of issues.”The rabbit in the Chinese zodiac also speaks to the power of empathy. What does my community need? How can I make myself of service to my community?” Lee said.

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