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REUTERS/Mario Anzuoni Acquire Licensing RightsLOS ANGELES, Nov 20 (Reuters) - "Wish," the new animated musical movie marking Walt Disney Co's (DIS.N) 100th anniversary, reaches back to its modest beginnings to inspire future generations. Walt Disney Studios was founded in 1923 in Hollywood, California, by brothers Walt and Roy O. Disney, making it the world's oldest running animation studio. Disney movies are usually based on classic fairy or folk tales, mixing romance, humor, sadness, high-stakes action and self-discovery. "Not just to wish, but usually sing to their heart's desire, and so I think it's important to this movie obviously. I think it will be important to many Disney movies in the future too."
Persons: Ariana DeBose, Asha, Chris Pine, Roy, Mario Anzuoni, Walt Disney, Walt, Jennifer Lee, Lee, King Magnifico, Roy O, Danielle Broadway, Rollo Ross, Mary Milliken, Richard Chang Organizations: Disney Animation, REUTERS, Walt Disney Co's, Walt Disney Animation, Disney, Walt Disney Studios, Thomson Locations: Burbank , California, U.S, Kingdom of Rosas, Hollywood , California
These dealers who switched to EVs love their cars. Being an EV owner helps these dealers talk to their staff and customers about the cars. "People know what electric vehicles are, they know the pluses and the minuses – we're past that," Ricart said. The changing EV shopperDealers like Sheehy and Ricart have started warning manufacturers that a big shift in EV customers is going to change their business. While there may be interest in an electric car, these shoppers almost always land on a hybrid or a gas-powered car.
Persons: , Rhett Ricart, he's, Ricart, Vince Sheehy, Sheehy Organizations: Service, Business, Depot Locations: Ohio, Washington, DC, Washington ,
U.S. two-year Treasury yields skidded below 4.80% on Friday for the first time since September 1, with 10-year yields dropping under 4.40% to September lows too. Crude has now lost almost 25% in just six weeks - aided by the U.S. gradually lifting oil sanctions on Venezuela. The Labor Department said import prices fell a whopping 0.8% in October, the most in seven months amid a broad decline in the costs of goods - deepening the annual deflation of import prices to as much as 2.0%. Even though the dollar (.DXY), , is taking a hit from the plunge in U.S. Treasury yields, the drop in sovereign borrowing rates was mirrored across the world in Europe , even Japan . Mirroring the softening demand picture elsewhere, British retail sales volumes fell unexpectedly in October as stretched consumers stayed at home.
Persons: Lucas Jackson, Mike Dolan, plumb, Morgan, Susan Collins, Mary Daly, Austan Goolsbee, Michael Barr, Dave Ramsden, Nick Macfie Organizations: New York Stock Exchange, REUTERS, Walmart, Cisco, Alibaba, Philadelphia Federal Reserve, Labor Department, Treasury, Hong, Housing, Atlanta, Boston Federal, San Francisco Fed, Chicago Fed, Bank of England, United States, APEC, Graphics, Thomson, Reuters Locations: New York, U.S, Wall, Alibaba ., Venezuela, Europe, Japan, HK, Hong Kong, China, San Francisco
Barbie dolls (R) are displayed for sale ahead of Black Friday at a Walmart Supercenter on November 14, 2023 in Burbank, California. Shoppers may get an early present this holiday season: falling prices in many gift-giving categories. On Thursday, Walmart CEO Doug McMillon said deflation could be coming as general merchandise and key grocery items, such as eggs, chicken and seafood get cheaper. Across most categories, Americans are still spending more on the same items, according to the latest CPI numbers. Walmart's McMillon said some stubborn food prices continue to be a concern.
Persons: Barbie, Doug McMillon, it's, Richard McPhail, John David Rainey, Rainey, Walmart's McMillon Organizations: Walmart, Shoppers, Labor Department, CPI, Home, American Farm Bureau Federation, Wall, CNBC Locations: Burbank , California, U.S
Walmart will report quarterly earnings Thursday as the discounter generally outperforms its rivals. Shares of the company touched an all-time high Wednesday dating to when Walmart debuted on the New York Stock Exchange in August 1972. Target's performance also lifted Walmart's stock Wednesday and could bode well for Walmart's quarter. Target's sales declined year over year, but it topped Wall Street's expectations for earnings and revenue. Walmart has outperformed Target over the past year, leaning on grocery sales and a reputation for low prices.
Persons: It's, bode, Michael Baker, Davidson Organizations: Walmart, Amazon Prime, New York Stock Exchange, D.A Locations: LSEG
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailTarget sits at the center of a number of consumer headwinds, says JPMorgan's Christopher HorversChristopher Horvers, JPMorgan senior analyst, joins 'The Exchange' to discuss Target's and Walmart's consumer backdrops, the disinflationary outlook for goods, and more.
Persons: JPMorgan's Christopher Horvers Christopher Horvers Organizations: JPMorgan
"That's the sorrow of Walmart or Chevron or Palo Alto Networks and so many other companies that are victims of their own success." Additionally, Cramer said Walmart is grappling with more cautious consumers, who've seen their budgets squeezed by inflation for well over a year. Meanwhile, shares of Palo Alto Networks slid 5.4% Thursday as its earnings report from the prior evening disappointed investors. Cramer's Charitable Trust, the portfolio used by the CNBC Investing Club, owns Palo Alto shares. While Chevron and its energy peers benefited from higher oil prices last year, Cramer said the falling oil prices are a direct consequence of a slowing economy.
Persons: CNBC's Jim Cramer, Cramer, who've Organizations: Federal, Walmart, Palo Alto Networks, Chevron, Palo Alto, Palo, Charitable Trust, CNBC, Club Locations: U.S, Palo
REUTERS/Siddharth Cavale/File Photo Acquire Licensing RightsNov 16 (Reuters) - Walmart (WMT.N) raised its annual sales and profit forecast on Thursday for the second straight quarter, signaling a strong start to the holiday season. The strong demand for low-priced products from groceries to clothing and gifts, coupled with better in-stock levels, has helped Walmart take more market share from other retailers - including dollar stores - in recent months. Walmart now expects fiscal 2024 earnings per share of between $6.40 and $6.48, up from its prior forecast of $6.36 to $6.46. Walmart is also doubling down on holiday merchandise across a wide range of price points to attract inflation-hit customers looking to make Christmas purchases on a budget. Walmart shares, which have gained nearly 20% this year, were down 1% in premarket trading.
Persons: Siddharth Cavale, Doug McMillon, Deborah Sophia, Susan Fenton Organizations: REUTERS, Walmart, Target, Walmart U.S, Walmart's, Thomson Locations: Teterboro , New Jersey, U.S, New York, Bengaluru
Walmart wants to lower your grocery bill
  + stars: | 2023-11-16 | by ( Dominick Reuter | ) www.businessinsider.com   time to read: +3 min
The company said it hopes falling food prices will free up shoppers' wallets to buy other merchandise. AdvertisementJust as inflation refers to rising prices, "deflation" refers to prices falling — and even though it may help consumers, it presents a surprisingly tricky challenge for businesses and policymakers. In contrast to periods of rising inflation in which corporate profit margins typically grow, deflation tends to squeeze companies in a few ways. AdvertisementThe upside of falling food prices for Walmart — more than say Kroger or Albertsons — is that Walmart sells a whole lot more than groceries. "If the food prices come down," McMillon said, "that'll free up dollars to be spent in general merchandise."
Persons: , Doug McMillon, it's, McMillon, John Furner Organizations: Walmart, Service, Rabo Research, Albertsons
A day earlier, Target noted that shoppers continue to curb spending and delay purchases. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Walmart, which has previously appeared almost immune from the decline in consumer spending affecting other retailers, said Thursday that it saw an unexpected softness in October sales. "This year, we've seen more and more consumers delaying their spending until the last moment," Cornell said.
Persons: , John David Rainey, Rainey, Brian Cornell, we've, Cornell, That's Organizations: Walmart, Service
Check out the companies making headlines in premarket trading. Cisco Systems — Shares tumbled nearly 11% during premarket trading on the back of the company's earnings guidance for the current quarter, which fell below analyst estimates. Palo Alto Networks — Shares slid more than 6% after Palo Alto Networks issued a weaker-than-expected billings forecast for the current quarter and full year. Tencent Music Entertainment — Shares climbed slipped 1.4% in premarket trading following quarterly earnings that missed the mark. StoneCo — The fintech company added 1.2% during premarket trading after Bank of America upgraded shares to buy from neutral.
Persons: StoneCo, Mario Pierry, — CNBC's Michelle Fox, Brian Evans, Sarah Min Organizations: Walmart, LSEG, Revenue, Cisco Systems, Cisco, Palo Alto, Palo Alto Networks, billings, Citi, Tencent, JPMorgan, Goodyear Tire, Deutsche, Goodyear, Bank of America
Apple was asked by a House committee to explain its decision to cancel Jon Stewart's show. "The Problem with Jon Stewart," which streams on Apple TV+, was canceled last month. AdvertisementLawmakers have asked Apple to explain why "The Problem with Jon Stewart" was recently canceled. AdvertisementAfter being told he must be "aligned" with the company on topics, Stewart and Apple decided to go their separate ways. "If Jon Stewart can potentially be impeded from offering commentary on the CCP, what does this mean for less prominent personalities?".
Persons: Apple, Jon Stewart's, Jon Stewart, , Tim Cook, Stewart, Ding Xuexiang Organizations: Apple, Chinese Communist Party, Service, New York Times, Communist Party, CCP, Getty, Business Locations: China, Beijing, Xinhua
However, it offered a cautious outlook and said that shoppers pulled back their spending in late October. Industry analysts are dissecting the data, seeking to shed more light on how consumers are feeling as the holiday approaches. Walmart reported that profits were $453 million, or 17 cents per share, for the three-month period ended Oct. 31. Comparable store sales — those from established stores and online operating over the past 12 months — rose 4.9% for the Walmart U.S. division for the quarter. Global e-commerce sales rose 15%.
Persons: That's, Doug McMillon, it’s, McMillon, Macy’s, Anne Organizations: Walmart, Industry, Shoppers, Federal Reserve, U.S . Commerce Department, Revenue, Walmart U.S Locations: Bentonville , Arkansas, U.S
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWalmart's toxic brew was inflated stock price and deflation impacting merchandise, says Jim Cramer'Mad Money' host Jim Cramer talks the recent slate of retail earnings and how deflation has impacted big box stores.
Persons: Jim Cramer
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWalmart's stock is still a bargain at these levels, says Keybanc's Bradley ThomasBradley Thomas, managing director at Keybanc Capital Markets, joins 'Squawk on the Street' to discuss at what point Walmart's stock becomes a bargain, how the thesis around the stock changes with deflation, and more.
Persons: Keybanc's Bradley Thomas Bradley Thomas Organizations: Keybanc
The big-box retailer's stock has lost a quarter of its value in a turbulent year marked by elevated inflation. Shoppers have focused on food and essentials purchases while spending less on home goods, electronics, toys and apparel. Target sales declined by an average 7% in August and September alongside declines in transaction count and value, TD Cowen said in a note ahead of its earnings. On Wednesday, Target forecast adjusted earnings to land between $1.90 and $2.60 per share in the fourth quarter. It also expects holiday-quarter comparable sales to decline in the mid-single-digit percentage range, compared with expectations of a 3.97% drop.
Persons: Brian Cornell, Cornell, TD Cowen, Kendra Scott, Lucy Nicholson, Brian Mulberry, Price, Dave Wagner, Siddharth Cavale, Ananya Mariam Rajesh, Matthew Lewis, Chizu Nomiyama, Nick Zieminski Organizations: Target, Shoppers, Schwarz, Azusa , California U.S, REUTERS, Zacks Investment Management, Walmart, Consumer, Retail's, . Commerce Department, Aptus Capital Advisors, Thomson Locations: Azusa , California, New York, San Francisco, Seattle, Portland , Oregon, Bengaluru
Man Utd CEO Arnold to leave club ahead of possible sale
  + stars: | 2023-11-15 | by ( ) www.reuters.com   time to read: +2 min
Soccer Football - Funeral of former England and Manchester United footballer Bobby Charlton - Manchester Cathedral, Manchester, Britain - November 13, 2023 Manchester United CEO & director Richard Arnold arrives at Manchester Cathedral REUTERS/Phil Noble Acquire Licensing RightsCompanies Manchester United PLC FollowNov 15 (Reuters) - Manchester United (MANU.N) CEO Richard Arnold will step down, the Premier League club said on Wednesday, ahead of the club's reported stake sale to British billionaire Jim Ratcliffe. General counsel and board director Patrick Stewart, who has been with the club for over 17 years, will be become interim CEO. Patrick Stewart's appointment as interim CEO would allow United's new joint owners to identify the right long-term candidate to run the club, Sky News reported, citing one source. Manchester United did not immediately respond to a Reuters' request for comment on the rationale. Arnold will provide "transitional support" until the end of December, the club said, and they will start looking for a permanent CEO, United said in a statement.
Persons: Bobby Charlton, Richard Arnold, Phil Noble, Jim Ratcliffe, Patrick Stewart, Glazer, Arnold, Ed Woodward, Erik ten Hag, Ratcliffe, Patrick Stewart's, United, Yadarisa, Shinjini Ganguli, Bhattacharjee Organizations: Soccer, Manchester United, Manchester Cathedral, Manchester Cathedral REUTERS, Rights Companies Manchester United, Premier League, Reuters, Sky News, Thomson Locations: England, Manchester, Britain, United, Bengaluru
REUTERS/Cheriss May/File Photo Acquire Licensing RightsWASHINGTON, Nov 15 (Reuters) - U.S. lawmakers asked Apple Inc to explain the abrupt end of political comedian Jon Stewart's television show on its streaming service, according to a letter made public on Wednesday, citing concerns that content related to China was behind the cancellation. The New York Times reported last month that Stewart's show on Apple's streaming service was ending, the result of creative differences. The newspaper said Stewart told members of his staff that potential show topics related to China and artificial intelligence were causing concern to Apple executives. The letter asked representatives of Apple for a briefing on its concerns by Dec. 15, 2023. U.S. lawmakers have long expressed concerns about potential Chinese government censorship given the ruling Communist Party’s strict media controls.
Persons: Jon Stewart, Mark Twain, Cheriss, Jon Stewart's, Stewart, Tim Cook, Apple, Michael Gallagher, Raja Krishnamoorthi, Xi Jinping, Joe Biden, Patricia Zengerle, Stephen Coates Organizations: The Kennedy Center, REUTERS, Rights, Apple Inc, New York Times, Apple, Times, Republican, Democratic, Chinese Communist Party, CCP, Economic Cooperation, Thomson Locations: Washington , U.S, China, San Francisco, Asia, U.S
Amazon is continuing to lose market share to Walmart in the online grocery space, per new data. Amazon has spent 2023 reevaluating its grocery strategy, particularly for its Amazon Fresh stores. AdvertisementAfter years of trying to get shoppers to order groceries online, Amazon is still losing ground to Walmart. Walmart's grocery sales online have eclipsed Amazon's by increasingly wide margins since 2019, according to data from Insider Intelligence. By the end of 2024, Walmart will have 26.9% of online grocery sales, while Amazon will have just 18.5%, according to the data.
Persons: , Brian Lau, Andy Jassy, Amazon, Lau Organizations: Walmart, Intelligence, Amazon, Service, Insider Intelligence, Business, Insider Inc, Whole Foods, Axios, Foods, Bloomberg Businessweek, Bloomberg
In taking the stakes, Hancock has underscored its expertise in building mining projects, while Mineral Resources has said it wants to be part of projects that will sustain its growth for decades. Hancock and Mineral Resources declined to make additional comments. As well as Liontown, Core Lithium (CXO.AX), Leo Lithium (LLL.AX) Latin Resources (LRS.AX) Patriot Metals , Chalice (CHN.AX), Centaurus (CTM.AX) and Rex Minerals (RXM.AX) have all been cited by brokers as buyout prospects. TWO-PRONGED SOLUTIONTheir deep pockets, risk appetite and Australia's competition laws means mining magnates have a home advantage against listed companies, industry sources say. One example that bankers offered in the case of SQM's bid for Azure was a two-pronged solution to erode any interloper advantage.
Persons: Gina Rinehart, Roy Hill's, Hancock, Chris Ellison, Rinehart's Hancock, Marc Upcroft, you've, Leo Lithium, Richard Lustig, Baker McKenzie, Melanie Burton, Christian Schmollinger Organizations: REUTERS, MELBOURNE, Mineral Resources, Australia's, PwC, Rex Minerals, Thomson Locations: Port Hedland, Australia, Australia's Liontown, Albemarle, Hancock, Melbourne
Target, like other U.S. retailers, has been struggling with slowing sales as consumers show more caution in the face of steep inflation. This profit performance benefited from ... efficiency and disciplined inventory management," Target CEO Brian Cornell said in a statement. In August, the retailer cut its full-year sales and profit expectations to reflect the impact of slowing consumer demand. Target said on Wednesday it expects holiday-quarter comparable sales to decline in the mid-single-digit percentage range, compared with expectations of a 3.97% drop. Target shares have lost 25.7% of their value this year, in contrast to rival Walmart's (WMT.N) 18.2% rise.
Persons: Lucy Nicholson, Brian Cornell, Cornell, Walmart's, Siddharth Cavale, Ananya Mariam Rajesh, Matthew Lewis Organizations: Azusa , California U.S, REUTERS, Walmart, Thomson Locations: Azusa , California, Minneapolis, New York, San Francisco, Seattle, Portland , Oregon, Bengaluru
Major Study Confirms Salt's Deadly Effect on Blood Pressure
  + stars: | 2023-11-13 | by ( Nov. | At A.M. | ) www.usnews.com   time to read: +4 min
Investigators said theirs is one of the largest studies ever to include people taking high blood pressure meds in a look at the effect of reducing dietary intake of sodium. She said researchers previously didn't know if people already on blood pressure meds could lower their blood pressure even more by reducing their sodium intake. High blood pressure is a leading cause of illness and death worldwide. Before each study visit, participants wore blood pressure monitors and collected their urine for 24 hours. "The effect of reduction in dietary sodium on blood pressure-lowering was consistent across nearly all individuals, including those with normal blood pressure, high blood pressure, treated blood pressure and untreated blood pressure," Gupta said in a Northwestern news release.
Persons: Carole Tanzer Miller, , Norrina Allen, Deepak Gupta, Allen, Gupta, Dr, Cora Lewis, Johns Organizations: Northwestern University Feinberg School of Medicine, Vanderbilt University Medical Center, University of Alabama, American Medical Association, American Heart Association, Johns Hopkins Medicine, Northwestern University Locations: Chicago, Nashville, Tenn, Northwestern, Birmingham, Philadelphia
But rising credit card debt, depleted pandemic-era savings, and higher interest rates are giving investors pause, betting that retail bellwethers like Walmart and Target will have too much merchandise and be forced to discount during the holiday season. Walmart's decision so far to not hire seasonal holiday workers is a telling sign, Walmart investor Sizemore Capital Management told Reuters. The National Retail Federation predicts U.S. holiday sales in 2023 to rise at the slowest pace in five years. But Walmart and Target began offering some holiday discounts as early as October. "I don't see" food price inflation crowding out sales of more discretionary goods as "as big of an issue this holiday season as last holiday season," D.A.
Persons: they're, Charles Sizemore, Brian Cornell, " Sizemore, TD Cowen, D.A, Davidson, Rubbermaid, Helen of Troy, Target, Scott, Michael Baker, Siddharth Cavale, Nick Zieminski Organizations: Walmart, Target, U.S, Capital Management, Reuters, National Retail Federation, Newell Brands, Hydro, Thomson Locations: New York
INDIANAPOLIS (AP) — A former Indiana lawmaker has agreed to plead guilty to a federal charge alleging that he accepted promises of lucrative employment from a gaming company during his time in public office, federal prosecutors said Friday. Sean Eberhart, 57, agreed to plead guilty to conspiracy to commit honest services fraud, according to court documents filed Thursday. The former Republican state representative represented central Indiana's House District 57 for 16 years before leaving office in November 2022. In 2022, longtime casino executive John Keeler was sentenced along with a former Indiana state senator, Brent Waltz, for their role in the illegal funneling of gambling money into the lawmaker's unsuccessful 2016 bid for congress. Keeler, who was a Republican legislator for 16 years in the 1980s and 1990s, was sentenced to two months in federal prison and fined $55,000.
Persons: , Sean Eberhart, ” Eberhart, Eberhart, Todd Huston, Eberhart's, Huston, John Keeler, Brent Waltz, Keeler Organizations: INDIANAPOLIS, Indiana, Republican, central, General, Spectacle Entertainment, Lake Michigan, Public, Spectacle, Attorney's, Associated Press, FBI Locations: central Indiana's, Lake, Gary , Indiana, Gary, Indiana's Vigo County, U.S, Indiana, Greenwood
Starting November 10, Walmart will have "sensory-friendly" hours between 8 and 10 a.m. at its stores. AdvertisementAdvertisementStarting today, your local Walmart will look slightly different inside during the mornings. And after "overwhelmingly positive" reception, sensory-friendly hours will now be a daily occurrence. Starting today, November 10, sensory-friendly hours will occur every day from 8 a.m.-10 a.m. Sensory-friendly hours appear to be here to stay, as Walmart says there is "no planned end date." Though people with certain conditions may be the main target of sensory-friendly hours, anyone is welcome to shop.
Persons: , Grace Mayer Organizations: Walmart, Service Locations: Puerto Rico
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