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☆ S&P 500 futures are flat after Wall Street notches four-day winning streak: Live updates
▼ + stars: | 2023-08-30 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

S&P 500 futures were flat Wednesday night after the broad market index notched a fourth-straight positive day. Futures for the S&P 500 and Nasdaq 100 futures oscillated near the flat line. Investors are coming off a positive session for the major averages Wednesday, with the S&P 500 ending the day 0.38% higher. The Dow and S&P 500 are each lower by more than 1% in August, while the Nasdaq is off by over 2%. Economists polled by Dow Jones are expecting a year-over-year rise of 4.2% last month, up slightly from a 4.1% increase the previous month.

Persons: Stephanie Link, Dow Jones Organizations: New York Stock Exchange, Traders, Nasdaq, Dow Jones Industrial, Dow, Dow Jones, Reserve, Broadcom, Fed

☆ Dick's Sporting shares slide as costs, inventory shrink slam annual profit outlook
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

Aug 22 (Reuters) - Dick's Sporting Goods shares (DKS.N) slumped as much as 24.5% on Tuesday as the footwear retailer slashed its full-year profit target after missing expectations for the second quarter. A shopper browses merchandise at a Dick's Sporting Goods store in Collegeville, Pennsylvania U.S. November 20, 2020. REUTERS/Mark Makela Acquire Licensing RightsRetailers including Dick's Sporting Goods have been trying to find ways to cut costs as margins take a hit from soaring supply chain and labor expenses. On an adjusted basis, the company expects to earn $11.50 per share to $12.30 per share for the full year. Dick's shares were trading at $111.14 and dragged shares of rival retailers.

Persons: Mark Makela, Lululemon, Armour, Foot, Juveria, Eileen Soreng Organizations: Sporting Goods, Dick's Sporting, Collegeville , Pennsylvania U.S, REUTERS, Dick's Sporting Goods, Nike, Thomson Locations: United States, Collegeville , Pennsylvania

☆ Plant-Based Plastics Gain Favor as Companies Pursue Sustainability Goals
▼ + stars: | 2023-08-17 | by ( Dieter Holger | ) www.wsj.com time to read: +6 min

Plant-based plastic, that is. However, the environmental benefits of plant-based plastics are increasingly appealing to companies promising to use more sustainable materials by the end of the decade. Plants absorb the atmosphere’s carbon dioxide, which cuts the greenhouse-gas emissions from making bioplastics to at least half that of fossil-fuel-based plastics. A Lululemon shirt containing plant-based nylon. Only plant-based plastics that are chemically identical to fossil-fuel–based versions can enter the existing and growing recycling infrastructure.

Persons: Bioplastics haven’t, Michael Carus, “, ” Carus, Eastman, Chris Killian, bioplastics, Warby Parker, ”, Biden, Manav, olefins, Dow, bioethylene, LVMH Moët Hennessy Louis, Haley Lowry, Dieter Holger Organizations: Sustainable Business, Kodak, U.S . Defense Department, European, dieter.holger Locations: China, Japan, biomanufacturing, U.S, Iowa

☆ A 20-year fund manager shares 8 mega-trend stocks he's betting will take market share — and the 5 he's shorting
▼ + stars: | 2023-06-23 | by ( Laila Maidan | ) www.businessinsider.com time to read: +8 min

Gary Black says the stock market will continue to trend higher with volatility this year. What the remainder of 2023 has in store for the stock market is anyone's guess at this point. But Gary Black, a 20-year fund manager, and the portfolio manager and managing partner at The Future Fund, has a more positive outlook. The next mega trend is big data and cyber security. mega trend losersOn the side of stocks being shorted, these are the companies that Black expects will lose market share due to these mega trends.

Persons: Gary Black, Phillip Wool, it's, Black, He's, cybertruck, Tesla, Elon Musk, Eli Lilly, Lilly, LULU, Armour Organizations: Federal, Federal Reserve, EV, Tesla, Company, Palo Alto Networks, Nvidia, Toyota, CNBC, Bloomberg, UA, MAX Holdings Locations: China's, overproducing

☆ Lululemon shares surge as consumers snap up pricier athletic wear
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +2 min

Lululemon's first-quarter results also moved past estimates as the company saw traffic across both its stores and online up about 30%. The company also reported a 79% rise in sales in China, bolstered by the rollback of COVID restrictions. The company's strong results also lifted shares of other athletic wear makers including Nike Inc (NKE.N) and Athleta owner Gap Inc (GPS.N) by 3% and 1%, respectively, in premarket trading. "We continue to believe that Lululemon is best positioned in a consumer slowing cycle," said Adrienne Yih, analyst at Barclays. Reporting by Savyata Mishra and Aishwarya Venugopal in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Piper Sandler, Abbie Zvejnieks, Lululemon's, Cowen, Adrienne Yih, Savyata Mishra, Aishwarya Venugopal, Krishna Chandra Organizations: Barclays, Nike Inc, Gap Inc, Adidas, Puma, Thomson Locations: China, U.S, Bengaluru

The Senate passed a bill late on Thursday to lift the government's $31.4 trillion debt ceiling, avoiding a catastrophic, first-ever default. The Labor Department's closely watched employment report, due 0830 ET, is expected to still show a tight labor market. Fed funds futures trading showed an over 70% probability that the Fed will hold interest rates steady at its June 13-14 policy meeting. ET, Dow e-minis were up 185 points, or 0.56%, S&P 500 e-minis were up 21.25 points, or 0.5%, and Nasdaq 100 e-minis were up 63 points, or 0.44%. Reporting by Shreyashi Sanyal in Bengaluru; Editing by Nivedita Bhattacharjee and Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: FEDWATCH, Russ Mould, AJ Bell, Germany's, Shreyashi Sanyal, Nivedita Bhattacharjee, Maju Samuel Organizations: Nike, Broadcom, Dow, Nasdaq, Federal, Fed, Labor, FEDWATCH Reuters, Dow e, Microsoft Corp, Apple Inc, Tesla Inc, Athletica, Dow Jones, Nike Inc, Germany's Adidas, Puma, Broadcom Inc, Nvidia Corp, Nvidia, Thomson Locations: Washington, United States, Europe, Bengaluru

☆ Morning Bid: Jubilant markets eye jobs in June jump
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Elizabeth FrantzA look at the day ahead in U.S. and global markets from Mike DolanWith the U.S. debt ceiling removed, world markets see the sky again - encouraged that robust U.S. labor markets continue to defy recession fears as interest rates near peaks. And judged by all the other labor market soundings this week, there are few signs yet of any significant disturbance to the still-robust employment picture. Wall St's "fear index" - the VIX (.VIX) gauge of implied equity volatility - hit its lowest level since November 2021 early on Friday. To the extent the dollar was bid by debt-ceiling stress and thoughts of another June Fed hike, then it's fallen back again too. Elsewhere, oil markets are closely watching the weekend OPEC ministers meeting - although further production cuts are not expected.

Persons: Elizabeth Frantz, Mike Dolan, Hong Kong's, Hang, Lululemon, Sharon Singleton Organizations: REUTERS, Senate, Federal Reserve, Nasdaq, Fed, The United, Broadcom, Thomson, Reuters Locations: Arlington , Virginia, U.S, China, Hong Kong, The United Nations, South Africa

☆ Economic policies sacrifice poor Americans
▼ + stars: | 2023-06-02 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +3 min

NEW YORK, June 2 (Reuters Breakingviews) - Dollar General (DG.N), the ultra-low-cost retailer with 19,000 stores reaching 75% of the U.S. population, has never been a comfortable reflection of the American consumer. That underscores troubling consequences of current U.S. economic policy: the poor are being sacrificed. Over the past two decades, dollar stores have upended how the cross section of the United States shops. In smaller towns, Dollar General and competitors including Dollar Tree (DLTR.O) offer cheap and accessible groceries. Reuters GraphicsIn the past week, U.S. Congress has continued to roll back policies that would help Americans with less to go around.

Persons: Jeffery Owen, Lululemon, Nordstrom, Ralph Lauren’s, Joe Biden’s, Lululemon Athletica’s, Erik Nordstrom, Jennifer Saba, Sharon Lam Organizations: YORK, Reuters, Dollar, Walmart, Shoppers, Reuters Graphics, Congress, Thomson Locations: United States

☆ Lululemon lifts annual sales, profit forecasts on steady demand
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +1 min

June 1 (Reuters) - Lululemon Athletica Inc (LULU.O) raised its annual sales and profit forecasts on Thursday, betting on strong demand for its activewear from affluent U.S. shoppers and a recovery in China, sending its shares up 11% in extended trading. Lululemon is also banking on new launches and more full-price selling to drive revenues and offset any impact from promotions taken to clear inventories. Vancouver, Canada-based Lululemon now expects full-year 2023 revenue between $9.44 billion and $9.51 billion, compared with its prior estimate of $9.30 billion to $9.41 billion. The company projected full-year 2023 profit between $11.74 and $11.94, compared with its prior estimate of $11.50 to $11.72 per share. Reporting by Deborah Sophia in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Lululemon, Deborah Sophia, Devika Organizations: Nordstrom Inc, Thomson Locations: China, Vancouver, Canada, Bengaluru

Looking ahead, investors this week will be laser-focused on Washington, as Congress prepares to vote on a bill to raise the U.S. debt ceiling . But the shortened trading week ahead still features some key earnings and economic data. ET: S & P/Case Shiller home price index (March) 10 a.m. ET: Employment report: Non-farm payrolls and jobless rate (May) Looking back Last week, three Club holdings reported earnings. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Andreas Halvorsen's Viking Global put new money in Lululemon and Sherwin-Williams in Q1
▼ + stars: | 2023-05-16 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Andreas Halvorsen's Viking Global Investors took new positions in Lululemon Athletica and Sherwin-Williams in the first quarter, according to the hedge fund's latest 13F filing to the Securities and Exchange Commission. Fellow hedge fund manager Dan Sundheim of DQ Capital Partners dumped his entire holding in Sherwin-Williams in the first quarter. A 46% increase to Halvorsen's McKesson stake put the stock in the number two slot among his biggest holdings, at $1.14 billion. Of Halvorsen's top 10 holdings, all were increased stakes in the quarter besides Amazon, which was cut almost 40%. Correction: A previous version misstated Viking Global's actions in the first quarter as a result of an incorrect quarterly comparison.

☆ Dan Sundheim's D1 buys this large regional bank stock, trims tech holdings in first quarter
▼ + stars: | 2023-05-15 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Dan Sundheim's D1 Capital Partners bet on PNC Financial Services as turmoil unraveled across banks in the first quarter. The hedge fund, founded in 2018, opened a $43-million stake in the Pittsburgh-based regional bank in the first quarter, which saw the collapse of Silicon Valley Bank and Signature Bank in March, according to securities filings. D1 also made new bets on the healthcare sector, opening new positions in UnitedHealth and Danaher , and a stake worth at least $314 million in Elevance Health . While technology stocks rebounded during the first quarter, and investors gravitated back toward beaten-up growth stocks as bonds yields offered some relief, D1 reduced its exposure to some popular names. D1 managed roughly $27.6 billion in assets at the end of March, according to securities filings.

☆ Under Armour expects dull annual sales, profit as demand slows
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +1 min

May 9 (Reuters) - Under Armour Inc (UAA.N) forecast annual sales and profit below Wall Street expectations on Tuesday in a sign that persistent inflation was hampering demand and higher discounts were eating into profit margins, sending its shares down 5% before the bell. Footwear sales jumped 27%, while apparel rose just 1% and accessories fell 1%. The company expects fiscal 2024 net sales to be flat to slightly up, compared with analysts expectations of 3.7% growth. Under Armour also expects diluted earnings per share to be between 47 cents and 51 cents in 2024. Its net revenue rose 7.5% to about $1.40 billion in the quarter ended March 31 compared with analysts' average estimate of $1.36 billion.

☆ Under Armour sees 2024 sales, profit below estimates as demand slows
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +1 min

May 9 (Reuters) - Under Armour Inc (UAA.N) forecast annual sales and profit below Wall Street expectations on Tuesday in a sign that stubborn inflation was discouraging shoppers from spending on its athletic clothes and footwear. The company expects fiscal 2024 net sales to be flat to slightly up, compared with analysts expectations of 3.7% growth. Under Armour also expects diluted earnings per share to be between 47 cents and 51 cents in 2024. Analysts were expecting a profit of 61 cents, according to Refinitiv data. Reporting by Granth Vanaik in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

☆ Lululemon’s Climate Goals Hinge on Replacing Oil With Plants
▼ + stars: | 2023-04-20 | by ( Dieter Holger | ) www.wsj.com time to read: +6 min

Lululemon Athletica Inc.’s need for crude oil for its leggings and other stretchy clothes presents a hurdle to meeting its climate ambitions. Its first products out this month are two shirts containing at least 50% nylon made from plant-based sugars instead of oil. A new Lululemon shirt contains at least 50% nylon made from plant-based sugars instead of oil. Lululemon’s push into biomaterials is part of a goal to make all of its products with sustainable materials by the end of the decade. Biomaterials also can help Lululemon more swiftly reduce its climate impact because using recycled materials is challenging, Ms. Speck said.

Wolfe Research warned investors to avoid these low-quality stocks that could blow up. Using fourth-quarter corporate results, Wolfe Research identified potentially underperforming stocks using its earnings quality score, which considers several variables including sentiment, valuation metrics and various financial ratios. From this group, Wolfe Research found the names in the bottom 10% of its earnings quality score. Wolfe Research also identified names with high short interest relative to the company's sector. Wolfe also found the company has the lowest earnings quality score of all energy stocks tracked at just 2.

☆ Wall Street jumps with rosy outlooks from companies
▼ + stars: | 2023-03-29 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Micron (MU.O) shares shot up 7.2%, boosting the Nasdaq and S&P 500, and leading gains in the PHLX semiconductor index (.SOX), which closed 3.3% higher. Lululemon surges after strong reoprtThe bulk of S&P 500 companies begin reporting on the first quarter in mid-April. On Monday, regional U.S. lender First Citizens BancShares scooped up the assets of Silicon Valley Bank. Michael Barr, Fed Vice Chair for Supervision, told Congress the scope of blame for Silicon Valley Bank's failure stretches across bank executives. The S&P 500 posted 9 new 52-week highs and no new lows; the Nasdaq Composite recorded 69 new highs and 135 new lows.

☆ Wall Street gains with rosy outlooks from Micron, other companies
▼ + stars: | 2023-03-29 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Micron (MU.O) shares were up 7%, boosting the Nasdaq and S&P 500, and leading gains in the PHLX semiconductor index (.SOX), which was up 2.6%. The memory chip maker late Tuesday forecast a drop in third-quarter revenue in line with Wall Street expectations, while it gave a rosy outlook for 2025 with artificial intelligence boosting sales. Micron is sort of a microcosm of the global economy because their chips go into so many different industries and sectors. The bulk of S&P 500 companies begin reporting on the first quarter after mid-April. The S&P 500 posted 9 new 52-week highs and no new lows; the Nasdaq Composite recorded 57 new highs and 113 new lows.

Larger peers Bank of America (BAC.N), Goldman Sachs (GS.N) and JPMorgan Chase & Co (JPM.N) rose between 0.7% and 1%. "Markets are calmer as the tension of the banking situation is lessening. The CBOE volatility index (.VIX), known as Wall Street's fear gauge, fell to its lowest since March 9, reflecting easing investor anxiety. ET, Dow e-minis were up 216 points, or 0.66%, S&P 500 e-minis were up 32.5 points, or 0.81%, and Nasdaq 100 e-minis were up 114.25 points, or 0.9%. Reporting by Amruta Khandekar; Editing by Dhanya Ann Thoppil and Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

Larger peers Bank of America (BAC.N), Goldman Sachs (GS.N) and JPMorgan Chase & Co (JPM.N) rose between 0.7% and 1.6% in premarket trade. "Markets are calmer as the tension of the banking situation is lessening. A key inflation reading expected at the end of the week will provide more clues on the Fed's monetary tightening plans. ET, Dow e-minis were up 244 points, or 0.75%, S&P 500 e-minis were up 35.25 points, or 0.88%, and Nasdaq 100 e-minis were up 109.25 points, or 0.86%. Reporting by Amruta Khandekar; Editing by Dhanya Ann Thoppil and Vinay DwivediOur Standards: The Thomson Reuters Trust Principles.

☆ Lululemon projects upbeat 2023 on strong demand, easing inventory
▼ + stars: | 2023-03-28 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

Markdowns increased just 40 basis points in the holiday quarter compared to 2019 pre-pandemic levels, and are expected to remain flat in 2023. Inventories were up 50% at $1.4 billion at the end of the fourth quarter, compared to an 85% swell at the end of the prior quarter. Lululemon said it expects fiscal 2023 revenue between $9.30 billion and $9.41 billion, above analysts' average estimate of $9.14 billion, according to Refinitiv IBES data. The company forecast full-year profit in the range of $11.50 to $11.72 per share, compared with analysts' estimate of $11.26. Lululemon also issued upbeat forecasts for the first quarter, and topped expectations for fourth-quarter results.

☆ Lululemon sees 2023 sales, profit above estimates on strong demand
▼ + stars: | 2023-03-28 | by ( ) www.reuters.com time to read: +2 min

March 28 (Reuters) - Lululemon Athletica Inc (LULU.O) forecast annual sales and profit above Wall Street estimates on Tuesday, betting on strong demand for its pricier yoga wear even as inflation hurts consumer spending, sending its shares up about 9% in extended trading. Lululemon's Align high-rise yoga pants, listed among the best-selling items on its website, retails between $98 and $118. Vancouver, Canada-based Lululemon said it expects fiscal 2023 revenue between $9.30 billion and $9.41 billion, compared with analysts' average estimate of $9.14 billion, according to Refinitiv IBES data. The company expects full-year profit in the range of $11.50 to $11.72 per share, compared with analysts' estimate of $11.26 per share. Excluding items, Lululemon earned $4.40 cents per share in the fourth quarter ended Jan. 29, beating analysts' estimate of $4.26 per share.

☆ Kanye West blunder puts Adidas in play
▼ + stars: | 2023-03-15 | by ( Aimee Donnellan | ) www.reuters.com time to read: +4 min

After a disastrous breakup with the musician formerly known as Kanye West, the $28 billion sneaker maker is slashing dividends and heading for the first loss in decades. Last year, Adidas spent 12.3% of its 22.5 billion euros of revenue on marketing and similar expenses. If it were to return to the 13.9% it allocated in 2015, it would add 2 billion euros of extra costs over the next five years, Breakingviews calculations show. Swooping on Adidas would allow the U.S. athleisure giant to dominate sportswear by servicing women and men across a wide spectrum of categories. Shares in Adidas were down 2.4% at 144.50 euros by 0859 GMT on March 15.

In a 2021 complaint filed with the ITC, Dish and its Sling TV unit accused Peloton and iFit of infringing four patents for video-streaming technology through imports of products that stream at-home fitness content. President Joe Biden's administration has 60 days to review the import ban before it takes effect, though presidents rarely reverse such actions. Cheney found that the Peloton, Lululemon and iFit streaming-capable products infringed patents related to Dish's Hopper set-top boxes. Dish said its patents covered adaptive bitrate streaming technology that lets users stream content from around the world in real time "at the highest possible quality". The technology was developed by Move Networks Inc and was acquired by Dish in 2012, according to court papers.

☆ Peltz's Trian seeks to rally Disney shareholders against board director Froman
▼ + stars: | 2023-02-02 | by ( Svea Herbst-Bayliss | ) www.reuters.com time to read: +3 min

REUTERS/Fred ProuserNEW YORK, Feb 2 (Reuters) - Activist investor Nelson Peltz's hedge fund Trian Fund Management wrote to Walt Disney Co (DIS.N) shareholders on Thursday to make the case for replacing the media and entertainment conglomerate's board director Michael Froman. Trian, which owns a roughly $1 billion stake in the home of Mickey Mouse, has asked Disney shareholders to drop Froman — a former U.S. Trade Representative — from the company's 12-member board and elect Peltz instead. Trian did not spell out in the letter why it had picked Froman to target among the Disney directors, but suggested that Peltz was more qualified to serve. In the letter, Trian also directed its criticism at the full Disney board, blaming it for a 44% drop in Disney's stock last year. A shareholder vote to decide on the composition of Disney's board has not yet been set but is expected in the spring.

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