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Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Jim Cramer said investors should not sell based on macroeconomic uncertainty. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Jim, Eaton, Jim Cramer's Organizations: CNBC, GE Healthcare, Club, Management Locations: Eaton
Cardboard stands with the AfD logo lie on the chairs in the Wiesenhalle before the start of the AfD Brandenburg state party conference. Traditionally, young voters are seen as more left-leaning, but the voting data suggests some divergences, with experts pointing to social media and what they describe as online echo chambers. A study published earlier this month showed that over half of those aged 14-29 in Germany use social media to stay updated about news and politics. But Berendsen told CNBC that it is one of the social media platforms where the tunnel-effect can be an issue. An AfD spokesperson confirmed to CNBC that its videos and texts posted on social media are tailored to young people.
Persons: Monika Skolimowska, Infratest Dimap, Eva Berendsen, Anne Frank, Baerbock, Maximilian Krah, TikTok, Berendsen Organizations: Getty, Russia, Anne, CNBC Locations: Hesse, Germany
But a majority of Supreme Court justices appear ready to hand the former president an immediate victory. Still, the Supreme Court justices do not appear likely to dismiss the former president's claims quickly, raising the likelihood that Trump may not face trial for trying to overturn the 2020 election before November. He drew his arguments from an earlier Supreme Court case that mapped the line for presidential immunity in civil matters. The Supreme Court weighs Trump's immunity claim. It is possible that the Supreme Court could rule that a more detailed review of Trump's conduct is best left to a lower court.
Persons: Donald Trump, , Trump, Jack Smith, Trump's, you've, Brett Kavanaugh, Sauer, Kavanaugh, Tanya Chutkan, Smith, Joe Biden, it's, John Sauer, Jabin, Samuel Alito, Alito, Amy Coney Barrett, Barrett, Michael Dreeben, Dreeben, Ketanji Brown Jackson, Jackson, John Roberts, Jackon, Justice Alito, Roe, Wade, Anthony Kennedy's, Hodges, Neil Gorsuch Organizations: Service, Trump, Washington, Getty Locations: DC, Dobbs v, Obergefell
Stocks hit a rough patch after the Club's March Monthly Meeting as Wall Street grappled with increasing odds of higher-for-longer interest rates. Here are our five top-performing stocks since the March Monthly Meeting. WFC YTD mountain Wells Fargo (WFC) year-to-date performance Wells Fargo led the way, with shares jumping 5.8% over the period. GOOGL YTD mountain Alphabet (GOOGL) year-to-date performance Alphabet stock rose 4.9% since the March Monthly Meeting, placing the Google parent in second place on the gainers list. EL YTD mountain Estee Lauder (EL) year-to-date performance Estee Lauder stock added 2.7% since the March Monthly Meeting, occupying the fourth spot on our list.
Persons: Stocks, Wells Fargo, Jim Cramer, Wells, Jim, he's, Lauder, Estee Lauder, Estee, Fabrizio Freda, Freda, Jim Cramer's, Dow, Spencer Platt Organizations: Dow Jones, Nasdaq, Club, Google, Big Tech, Palo Alto Networks, Bank of America, Citigroup, CNBC, Traders, New York Stock Exchange, Getty Locations: Wells, buybacks, Palo, Alto, New York City
First-quarter earnings of $3.46 per share fell below the FactSet consensus estimate of $3.67 in earnings per share. Alexandria Real Estate Equities — The stock advanced 1.2% after Alexandria surpassed first-quarter revenue expectations. The life sciences REIT posted revenue of $769.1 million, above the FactSet consensus estimate of $764.4 million. Packaging Corporation of America — The stock fell 1.8% in extended trading even as the maker of containerboard posted first-quarter earnings that topped estimates. Medpace — Shares dropped 4.3% after Medpace's first-quarter revenue missed estimates.
Persons: Crane, containerboard, Calix, FactSet, Simpson, Medpace, Medpace's, TrustCo, Darla Mercado Organizations: Cliffs, Cadence, Cadence Design Systems, FactSet, Globe, Crane, Alexandria Real, Packaging Corporation, America, Packaging Corp, Simpson, TrustCo Bank Corp, NY Locations: Cleveland, Alexandria, FactSet .
It was a tough, choppy week for stocks, but the oversold market gave us many opportunities to put some of our cash to work selectively. Club Director of Portfolio Analysis Jeff Marks said Friday, "We're still waiting for that truly ugly open before stepping up our buys." The PC market is embarking on an upgrade and replacement cycle, which should usher more demand for Best Buy's offerings. BBY YTD mountain Best Buy YTD Tuesday Tuesday was our busiest for trades, with adds to three companies: Oil and natural gas producer Coterra Energy , Mexican beer king Constellation Brands and Best Buy. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.
Persons: Jeff Marks, We're, Jim Cramer's, Wednesday Abbott, Abbott, Estee Lauder, Fabrizio Freda, Lauder, ABT, Jim Cramer, Jim, Brendan Mcdermid Organizations: Federal Reserve, Jim Cramer's Charitable Trust, CNBC, Club, Coterra Energy, Constellation Brands, Coterra, Hamas, Constellation, Wednesday, Abbott Laboratories, Traders, New York Stock Exchange Locations: Here's, Iran, Israel, Ukraine
Of those companies, 73.6% have beaten earnings expectations, FactSet data shows. Investment banks doing well, BofA not so much The major banks that posted results this week — Goldman Sachs , Morgan Stanley and Bank of America — beat earnings expectations. Bank of America shares fell more than 3% despite the company beating on both top and bottom lines. Mixed earnings picture Although nearly three-quarters of the reported earnings so far have topped expectations, the broader earnings picture is more muddled. The blended earnings growth rate, which considers the reports already out and the estimates from those still pending, sits at just 0.16%.
Persons: — Goldman Sachs, Morgan Stanley, Alastair Borthwick, Wells, Mike Mayo, Goliath, Mayo, Goldman Sachs, Wells Fargo's Mayo, Goldman, Ebrahim Poonawala, cyberattack, George Hill, Doug Anmuth, Jessica Reif Ehrlich, Canaccord Genuity, Chris Harvey Organizations: Investment, Bank of America —, Bank of America, Bank of America's, JPMorgan, Wells, of America, Deutsche, Netflix, NFLX's, Revenue, Microsoft, Exxon Mobil
JetBlue Airways — Shares jumped 4.1% after JPMorgan upgraded the airline to neutral from underperform, saying it likes its turnaround potential. Barnes Group — The global industrial tech and aerospace stock jumped 9.3% after DA Davidson upgraded the company to buy from neutral, saying shares are attractive. Blackstone — The asset manager slipped 2.3% after lowering its dividend to 83 cents per share from 94 cents per share. Horton exceeded expectations in its fiscal second quarter, posting earnings of $3.52 per share on revenue of $9.11 billion. Elevance Health — Shares jumped 3.2% after the health insurance company posted an earnings beat and raised its full-year guidance.
Persons: Estee Lauder, Tesla, Emmanuel Rosner, Rosner, Davidson, Blackstone, Horton —, Horton, LSEG, Morgan Stanley, Donald Trump's, , Samantha Subin, Brian Evans, Hakyung Kim, Lisa Kailai Han Organizations: JPMorgan, Taiwan Semiconductor Manufacturing, JetBlue Airways —, Iris Energy, Deutsche Bank, Google, Meta, Reuters, Group, Alaska Air Group, Revenue, BJ's Wholesale, eBay, — Rosenblatt Securities, Trump Media & Technology, Truth Social Locations: Taiwan, Alaska
The US freight recession keeps getting deeper
  + stars: | 2024-04-17 | by ( Filip De Mott | ) www.businessinsider.com   time to read: +1 min
J.B. Hunt stock slid as much as 13% on Wednesday after an earnings report that missed estimates. Demand for its freight services was weaker than expected in the first quarter. The firm is a bellwether for the freight industry, which has been mired in a post-pandemic recession. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementA leading freight company is seeing its stock tank after weak trucking volumes led to a first-quarter earnings miss on both profit and sales.
Persons: Hunt, , JB Hunt Organizations: Service, Business
400,000 Men at each age 200,000 Age: 15 25 35 45 55 65 75 85 95Can Ukraine Find New Soldiers Without Decimating a Whole Generation? Healthy men under age 30, the backbone of most militaries, are part of the smallest generation in Ukraine’s modern history. Mr. Zelensky’s decision to draft men starting at age 25 risks further diminishing this small generation of Ukrainians. But the lower draft age risks shrinking a small generation even more. And in occupied areas of the country Russia is conscripting Ukrainian men to fight against Ukraine, starting at age 18.
Persons: Volodymyr Zelensky, birthrates, thein, , Oleksandr Gladun, it’s, , Serhiy Hrabsky, Gladun, Organizations: Boys, United Nations, Ptukha, Social Studies, European Union, Eurostat, Ukraine Locations: Ukraine, United States, Soviet Union, Russia, Europe
When my daughter went off to college, I wanted to call her every day just to hear her voice. AdvertisementWhen my daughter got off the bus after the first day of kindergarten, she talked non-stop until she went to bed. I learned to communicate with my daughter differentlyWhen I went to college, we had a phone in our dorm room, and it cost money to call home long distance. But just like when we went off to college, they need the space to make the transition into adulthood without us hovering. AdvertisementWhat I've come to realize is how often parents talk with their college kids is as widely different as how often married couples have sex — and the end result is the same.
Persons: , I'd, we're, we've Organizations: Service
Instagram is offering cash bonuses to creators who post content to the Meta-owned app with new programs. While the company had previously doled out cash to creators who posted engaging videos, this time it's also compensating users for posting photos. Instagram is "testing" a "Spring Bonus," a seasonal program that pays creators for engagement on reels, photo carousels, and single-image photo posts, a Meta spokesperson confirmed to Business Insider. The current Spring Bonus had previous iterations as a "holiday bonus" and "New Year's bonus," and is now only available in the US, Japan, and South Korea. Mike Potter, who runs the Instagram account @grippingfoodwithforce, told BI he was notified about the Spring Bonus on March 29.
Persons: Jackson Weimer, Weimer, Mike Potter, @grippingfoodwithforce, Potter, Adam Mosseri, Mosseri, Instagram, TikTok Organizations: Business, BI, Facebook, Twitter, Street Journal Locations: US, Japan, South Korea, Instagram's
GameStop — GameStop shed nearly 15% after the video game retailer reported lower fourth-quarter revenue from a year ago. Merck — Merck jumped 4% after the U.S. Food and Drug Administration on Tuesday approved its drug to treat a life-threatening lung condition. However, Carnival reported an adjusted loss per share of 14 cents, better than the 18 cent loss analysts had expected. Cintas raised its full-year earnings and revenue guidance. Reddit — The social media stock slumped 13%.
Persons: Merck — Merck, Cintas, Reddit, Morgan Stanley, Wells, Concentrix, Coinbase, Donald Trump's, nCino, , Alex Harring, Hakyung Kim, Michelle Fox, Tanaya Macheel, Jesse Pound, Brian Evans, Sarah Min Organizations: GameStop, Merck, U.S . Food, Drug Administration, LSEG, New York Stock Exchange, Marvell Technology, Citi, Deutsche Bank, General, , Electric, U.S . Securities, Exchange, SEC, Moderna, Trump Media & Technology, Truth Social Locations: U.S, Wells Fargo
New York CNN —Truth Social owner Trump Media & Technology Group announced Monday its merger with a publicly traded shell company has closed and trading will begin on the stock market on Tuesday. Trading of the new company under the ticker symbol “DJT” on the Nasdaq Stock Market is set to begin on Tuesday, the companies said. Shares of Digital World Acquisition Corp (DWAC), the shell company that now owns Truth Social, surged more than 20% on Monday. Experts warn that the market is overvaluing Trump Media given the company’s fundamentals. Trump Media generated just $3.4 million of revenue through the first nine months of last year, according to SEC filings.
Persons: Donald Trump, Devin Nunes, , ” Nunes, CNN’s Elisabeth Buchwald, Krystal Hur Organizations: New, New York CNN, Truth, Trump Media & Technology Group, Trump Media, Corp, Nasdaq, Digital, Trump, Big Tech, overvaluing Trump Media, SEC, Twitter, CNN, AMC Entertainment, GameStop Locations: New York
Truth Social owner Trump Media will begin trading Tuesday as the merger closesCNN —Investors have approved a deal on Friday to make Truth Social owner Trump Media a publicly traded company. The new company will be called Trump Media & Technology Group and trade under the ticker DJT, Trump’s initials. Shareholders voted to approve Trump Media’s merger with a blank-check company, following years of legal and regulatory obstacles. Trump will own a dominant stake in a public company, with shares worth more than $3 billion at current market prices. First, experts say the market is drastically overvaluing Trump Media based on the company’s fundamentals.
Persons: Donald Trump, Trump, Trump won’t, , Matthew Kennedy, Kennedy, Charles Whitehead, Jonathan Macey, Jay Ritter, Ritter, Whitehead, , Xavier Kowalski, Schulte Roth, Zabel, ” Banks, ” Whitehead, , Organizations: Social, Trump Media, CNN, Digital, Corp, Trump Media & Technology Group, Shareholders, Trump, Renaissance Capital, Cornell Law School, SEC, University of Florida, Locations: New, Manhattan, ” Yale
And now, Chinese authorities appear to be going after his followers in China. Li Ying spends most of his days in front of the computer running his X account. Li’s warnings sent shock waves through the small but influential Chinese X sphere. On X, Li Ying’s account provided a window into the outpouring of grief and disaffection. “The Chinese authorities are fearful of young people like Teacher Li, seeing him as a threat to its rule,” Wang said.
Persons: Lee, Xi Jinping, , Li, , ” Lee, Li Ying, Li reposts, Elon Musk, Covid lockdowns, ” Li, , Yaqiu Wang, , ’ ”, Li Keqiang, Shen Xiang, ramped, Li Keqiang’s, Xi, it’s, it’ll, ” Wang, Wang Organizations: Hong Kong CNN, Twitter, US, Facebook, Elon, Ministry of Public Security, CNN, YouTube, Future Publishing, Getty, Freedom Locations: China, Hong Kong, Beijing, Italy, Washington, Anhui province,
Lil Wayne loves weed. But in 2021, Lil Wayne — whose real name Dwayne Carter — told the government that his touring company was a "drug-free" workplace. No one at the Small Business Administration appeared to question it, and the government cut a $8.9 million check to Lil Wayne's company Young Money Touring Inc. Representatives for Beach House didn't respond to a request for comment, nor did press contacts for Lil Wayne or Post Malone. The feds could claw the money backThe SBA told grant applicants that they could be sued or even prosecuted for lying.
Persons: Malone, Lil Wayne, , Lil Wayne —, Dwayne Carter —, Lil Wayne's, Post Malone, Post, Joe Rogan's, they're, Carter, ​ ​, Harold Pollack, Josh Schiller, Schiller, Dan Meyer, Andrew Preble, should've, Day Organizations: Service, Small Business Administration, Inc, Austin Post, Post, SBA, Touring Inc, University of Chicago, Elon, SpaceX, Beach House, NME, Beach Locations: people's, San Francisco, Angeles, New Orleans
Expedia is cutting 1,500 jobs as travel demand slows
  + stars: | 2024-02-27 | by ( Jordan Valinsky | ) edition.cnn.com   time to read: +1 min
New York CNN —Expedia, the online travel agency, is eliminating about 1,500 employees as part of an “organizational and technological transformation.”The cuts, which amount to nearly 9% of its 17,100-strong global workforce, come amid slowing travel demand following a post-pandemic boom and a broader shakeup at the company, including a new CEO. Expedia (EXPE) said in a regulatory filing that the cuts will result in an $80 million to $100 million charge to its bottom line because of severance and compensation benefits costs. Over time, Expedia has acquired several online traveling booking platforms including Hotels.com, Vrbo, Orbitz, Hotwire.com and Travelocity. An Expedia spokesperson said that the changes “will result in the elimination of some roles” that “allows the company to invest in core strategic areas for growth.”Expedia had previously announced that CEO Peter Kern was departing his role. Ariane Gorin, who is president of Expedia for Business unit, will take over the position in May when Kern’s contract ends.
Persons: New York CNN — Expedia, , Expedia, wasn’t, , ” Expedia, Peter Kern, Ariane Gorin, Max Organizations: New, New York CNN, CNN Locations: New York
SolarEdge Technologies — Shares dropped more than 20% after the company posted mixed quarterly results. However, revenue guidance for the first quarter was well below analyst expectations . Teladoc — Shares dropped 20% the morning after the online health-care company posted worse-than-expected revenue and guidance. The company posted a loss of 17 cents per share, smaller than the 21-cent figure anticipated by analysts surveyed. Palo Alto Networks topped earnings and revenue expectations for the recent quarter, but said it anticipates slower growth for the full year.
Persons: Teladoc, RingCentral, LSEG, Brandon Oglenski, Alan Shaw, HSBC's, Noel Quinn, Wingstop, — CNBC's Michelle Fox, Alexander Harring, Fred Imbert, Sarah Min, Jesse Pound, Samantha Subin Organizations: Nvidia, SolarEdge, LSEG, Palo Alto Networks, Alto Networks, Toll, JPMorgan, Norfolk Southern, Barclays, Amazon, Dow Jones, Walgreens, Alliance, HSBC —, Wall Street, FactSet Locations: Palo, billings
CNN —Alexey Navalny once represented an alternative future for Russia: an optimistic, forward-looking place, free of the one-man rule of Russian President Vladimir Putin. It would be hard to overstate how profoundly Navalny symbolized Putin’s relentless drive to erase the last remnants of political opposition from Russia. Kirill Kudryavtsev/AFP/Getty ImagesWhat followed was a parody of criminal justice, as Russian prosecutors heaped on charges against Navalny, who continued to rail against Putin. Navalny had emerged as the most prominent leader of the Russian opposition following the assassination of outspoken Putin critic Boris Nemtsov in 2015, in plain view of the Kremlin. Putin famously refused to utter Navalny’s name, hinting at the deep unease about the legitimacy Navalny commanded as opposition leader.
Persons: CNN — Alexey Navalny, Vladimir Putin, Navalny, Alexei Navalny, Kirill Kudryavtsev, gaunt, , ” Navalny, , , I’m, Yulia, Vasily Maximov, Putin, Boris Nadezhdin, Boris Nemtsov, Nemtsov, Lyubov Sobol, Mikheil Saakashvili –, Ukraine’s, Saakashvili, ’ ” Organizations: CNN, Getty, Putin, IK, Valentine’s, , Twitter Locations: Russia, Moscow, Berlin, AFP, Kharp, Autonomous Okrug, Ukraine, Russian, Navalny, Kyiv’s
CNN —With its bright lights, big names and halftime shows, the Super Bowl has always been the biggest sporting ticket in the US. Kansas City Chiefs quarterback Patrick Mahomes holds the Lombardi Trophy after the Chiefs won Super Bowl LVIII on Sunday, February 11. Steph Chambers/Getty Images Chiefs tight end Travis Kelce kisses his girlfriend, singer Taylor Swift, during the postgame celebrations. This was just the second Super Bowl in history to go to overtime. Swift, Ice Spice, Blake Lively and others were in attendance for Super Bowl LVIII.
Persons: Taylor Swift, Patrick Mahomes, Mahomes, Steph Chambers, Travis Kelce, Brynn Anderson, Trey Smith, Eric Gay, Adam Hunger, Andy Reid, Julio Cortez, Kyle Juszczyk, Mecole Hardman Jr, Jamie Squire, Hardman, Ezra Shaw, Tim Nwachukwu, Christian McCaffrey, Jake Moody, Frank Franklin II, Bill Vinovich, Mike Blake, Reuters Kelce, Fred Warner, David J, Phillip, Moody, Harrison Butker, Jauan Jennings, Kirby Lee, Chris Jones, Brock Purdy, George Walker IV, Kyle Shanahan, Marquez Valdes, Scantling, David Gray, Ray, Ray McCloud III, Stephen R, James Lang, Brian Snyder, Ji'Ayir Brown, Doug Benc, Gregory Bull, McCaffrey, Jennings, Dre Greenlaw, Achilles, Kelce, Reid, Isiah Pacheco, Pacheco, Harry, Trent McDuffie, Deebo Samuel, Chris Conley, Javon Hargrave, Sam Lutz, George Kittle, Getty Images Purdy, Michael Reaves, Nick Bolton, Candice Ward, Reba McEntire, Lively, McEntire, Andra Day, Jay, Blue Ivy, Rumi, Steve Luciano, Carlos Barria, Sterling, ’ Taylor, cutaways, Jason’s, Swift, Blake Lively, Vince Lombardi, Bill Belichick, Belichick, Don Shula’s, Hall, Tom Landry, Belichick hasn’t, Alex Grimm, Joe Flacco, Damar Hamlin, Hamlin, commotio cordis, Jeffrey T, Barnes, Dan Campbell, Aaron Rodgers, Rodgers, Robert Saleh, There’s, Organizations: CNN, Super, Kansas City Chiefs, San Francisco 49ers, NFL, Chiefs, Getty, AP Chiefs, Hardman, AP 49ers, 49ers, Reuters, USA Today Sports Chiefs, AP, USA, Network, Sports, Reuters 49ers, CBS, Reuters Chiefs, Getty Images, Allegiant, Vegas, New England Patriots ’, Green Bay Packers, Patriots, The Patriots, Kansas City Super, New England Patriots, of Fame, Hall of Fame, Atlanta Falcons, Indianapolis Colts, Deutsche Bank, Cleveland Browns, Buffalo Bills, Bills, Miami Dolphins, Dallas Cowboys, Detroit Lions, Lions, NFC, New York Jets, Jets Locations: Las Vegas, Brittany, Japan, Allegiant, , Kansas, Massachusetts, Foxborough, Frankfurt, Germany, Cincinnati, East Rutherford
Several stocks, including PepsiCo to Expedia , can provide steady returns and earnings growth in the face of greater volatility, according Wolfe Research. Against this backdrop, investors may want to keep their eyes on stocks that reliably deliver strong returns. Wolfe Research screened for companies with a history of strong returns — as gauged by return on equity and return on capital employed — along with consistent earnings growth. Fast-casual burrito chain Chipotle Mexican Grill is another stock with historically strong returns and earnings growth, according to the firm's screener. Chipotle's shares are up 13.8% so far this year, buoyed by strong fourth-quarter earnings driven by improved sales and margins.
Persons: Wolfe, ROE, Goldman Sachs, Goldman, Kate McShane, Expedia, Morgan Stanley, Ralph Lauren Organizations: PepsiCo, Expedia, Wolfe Research, Dow Jones, Nasdaq, Costco, UBS Locations: Tuesday's
"That's just created this once-in-a-decade momentum," said Mehdi Hosseini, an equity research analyst covering the stock at Susquehanna International Group. While the company posted robust results and guidance, analysts have cast doubt over the magnitude of recent stock moves, which include a 48% post-earnings rally and a 19% drop during Tuesday's session. ARM mountain 2024-02-08 Arm since reporting earnings One key factor at play is the limited number of shares in the marketplace. Traders typically buy shares short as a bet that the price of an asset will fall. The unwavering excitement around AI that's driven an investing frenzy over the last year may also be a factor at play with Arm.
Persons: That's, Mehdi Hosseini, Needham, Charles Shi, Ryuta Makino, there's, SoftBank, Hosseini, Shi Organizations: Holdings, Susquehanna International Group, Apple, Nvidia, Devices, ARM, GAMCO Investors, Retail, Tesla, Vanda Research, Partners, Traders
In its most recent quarter, Lyft posted adjusted earnings of 18 cents per share, more than the LSEG consensus estimate of 8 cents per-share earnings. Revenue of $1.22 billion was in line with analysts' expectations. Robinhood Markets — Shares of Robinhood soared roughly 16.5% after the investing platform beat on earnings and revenue for the fourth quarter. Kraft Heinz — Shares declined more than 1% after the food company posted fourth-quarter revenue that missed expectations. However, adjusted earnings of 78 cents per share was a slight beat, compared to the 77 cents earnings per share expected by analysts.
Persons: Lyft, Robinhood, Angi, DaVita, FactSet, Kraft Heinz —, Kraft Heinz, Akamai, GoDaddy, SentinelOne, bitcoin, Microstrategy, Airbnb, Bernstein, Topgolf, LSEG, It's, — CNBC's Brian Evans, Alex Harring, Tanaya Macheel, Jesse Pound, Pia Singh, Samantha Subin Organizations: LSEG, FactSet, Akamai, Wall, Bank of America, Miners Iris Energy, Marathon Digital, MGM Resorts, Topgolf Callaway, Topgolf Callaway Brands, JPMorgan Locations: LSEG, China, U.S, Detroit
Under Armour said Thursday that its holiday-quarter sales slowed, but its earnings beat estimates as the athletic apparel retailer worked to rein in costs. Under Armour now anticipates full-year sales will decline slightly more than it previously expected. During the quarter, Under Armour's wholesale revenue, which accounts for about 60% of sales, dropped 13% to $712 million. Like its peers, Under Armour has been working to expand its sales directly to consumers through its stores and website. During the quarter, Under Armour saw those direct sales rise 4% to $741 million, driven by a 5% uptick in store revenue and a 2% jump in digital sales.
Persons: Armour, Stephanie Linnartz Organizations: LSEG, Partners, Sporting Goods, Kohl's, JD Sports Locations: Houston , Texas, North America
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