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☆ Costco's quarterly results show why we're long-term investors, despite softer sales
▼ + stars: | 2023-03-02 | by ( Jeff Marks | ) www.cnbc.com time to read: +7 min

After factoring in tonight's move lower, Costco shares have gained roughly 3.3% year-to-date, compared to a 3.7% increase in the S & P 500 . While it's a positive development to see Costco's margins expand from last year, it's also important to note that management doesn't run the business for profit margins. On the post-earnings conference call with analysts and investors, Costco management broke down all the levers of the quarterly margin performance. Costco's 2% reward program was a two-basis-point headwind on both sides due to more sales coming from Costco's executive members. February sales Alongside its fiscal second-quarter results Wednesday, Costco provided comparable sales for the four-week period ended Feb 26.

☆ House Passes Bill Taking Aim at ESG Investments
▼ + stars: | 2023-03-01 | by ( Eric Bazail-Eimil | ) www.wsj.com time to read: 1 min

Photo: Ting Shen for The Wall Street JournalThe Labor Department late last year drafted the new rule under the Employee Retirement Income Security Act. The House passed a Republican-led bill Tuesday disapproving of a new Biden administration regulation that would allow retirement-plan managers to consider climate change and other factors when they make investment decisions. The legislation to overturn the regulation on environmental, social and governance guidelines, or ESG, passed 216-204. One Democrat joined with Republicans in support of the measure, which was introduced by Rep. Andrew Barr (R. Ky.).

WASHINGTON — Patrick Leahy was swept into the Senate nearly a half-century ago in the wake of the Watergate scandal and President Richard Nixon’s resignation and pardon. Ron Frehm / APSen. Leahy take photos on the inaugural stand during Barack Obama's presidential inauguration at the Capitol on Jan. 21, 2013. Let’s stay here and vote where we can be seen.”Sen. Leahy, D-Vt., walks to the Senate Chamber on Jan. 6, 2021. Ira Schwarz / APSupreme Court nominee Judge Sonia Sotomayor is sworn in by committee chairman Sen. Leahy, D-Vt., during her confirmation hearing in 2009 in Washington. Richard Shelby, R-Ala., and Patrick Leahy, D-Vt., in the Senate subway.

☆ Crypto: What's next as FTX collapse triggers 'Lehman moment'?
▼ + stars: | 2022-11-11 | by ( Julia Horowitz | ) edition.cnn.com time to read: +7 min

And can the beaten-down crypto industry bounce back? What’s clear is that the fallout from the FTX crisis injects significant volatility into the crypto ecosystem. “Thank God!”Can the crypto industry survive? “In the short term, this is going to be really, really bad for the crypto industry,” said Jog of Sei Labs. Fok said he expects the FTX collapse will push institutional investors away from the crypto space just as they had been warming up to it.

☆ Wells Fargo's downgrade of Costco underappreciates the retailer's value
▼ + stars: | 2022-11-07 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

Wells Fargo downgraded Club holding Costco (COST) in a rare move Monday, citing "brewing headwinds" to the wholesale retailer's growth momentum. Wells Fargo also lowered its price target for Costco to $490 a share from $600 a share. But this year, as life has returned to some level of normalcy for many Americans, Costco's membership-only retail business could see sales come under pressure if demand is softer, Wells Fargo said. Wells Fargo also cited expected easing in fuel margins at the retailer, which sells gasoline, and potential currency headwinds. The Club take We think Wells Fargo's analysis on Costco underappreciates the full value of its business model and does not change our view that Costco is a market leader in the retail space.

☆ Here’s why 75% of likely voters think we are in a recession — even though we’re probably not
▼ + stars: | 2022-11-03 | by ( Allison Morrow | ) edition.cnn.com time to read: +6 min

New York CNN Business —A new CNN poll shows that three-quarters of likely voters feel like the US economy is in a recession. The technical definition of a recession is two consecutive quarters of economic contraction, which the US economy recorded in the first half of the year. Still, the economy feels bad to the majority of Americans ahead of next week’s midterms. But that’s still the highest since the early 1980s, and it’s the first time many younger people have ever experienced inflation. But that dip may not be enough to buy Democrats any goodwill among voters, given the elevated costs of every other necessity.

☆ Jobs report: The US job market remains robust, but is showing signs of cooling
▼ + stars: | 2022-10-07 | by ( Alicia Wallace | ) edition.cnn.com time to read: +7 min

Minneapolis CNN Business —The fever hasn’t broken yet for America’s employment market, but the temperature is coming down. That, coupled with job openings showing some sharp declines, points to a labor market slowdown — an outcome the Federal Reserve is seeking as it battles decades-high inflation. “The job market is slowing gracefully, moderating jobs and wage growth smoothly as the Federal Reserve searches for signs of cooling inflation,” Daniel Zhao, senior economist for Glassdoor, said in a statement. What could, however, move the needle will be the findings from the inflation data due next week, he said. Job openings outpace job seekers on a 1.7 to 1 ratio, the BLS’ Job Openings and Labor Turnover Survey for August showed.

☆ Welcome to the World’s Oddest Pot Party, Thrown by the Local Police
▼ + stars: | 2022-09-19 | by ( Scott Calvert | Photographs Ting Shen For The Wall Street Journal | ) www.wsj.com time to read: 1 min

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☆ Welcome to the World’s Oddest Pot Party, Thrown By the Local Police
▼ + stars: | 2022-09-19 | by ( Scott Calvert | Photographs Ting Shen For The Wall Street Journal | ) www.wsj.com time to read: 1 min

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