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☆ Vans sneakers maker VF taps Logitech's Bracken Darrell as CEO
▼ + stars: | 2023-06-20 | by ( ) www.reuters.com time to read: 1 min

June 20 (Reuters) - VF Corp (VFC.N) has appointed Bracken Darrell, who last week stepped down as head of computer accessories maker Logitech (LOGN.S) after a 10-year stint, as its new CEO, the apparel and footwear maker said on Tuesday. VF Corp's CEO Steve Rendle retired in December 2022, after 25 years with the company, with lead independent director Benno Dorer named interim CEO. Darrell, who will take charge on July 17, has previously worked at Procter & Gamble (PG.N), Whirlpool Corp (WHR.N) and General Electric (GE.N). Dorer will remain a board member, VF Corp said. Reporting by Deborah Sophia and Juveria Tabassum in Bengaluru; Editing by Sriraj KalluvilaOur Standards: The Thomson Reuters Trust Principles.

Persons: Bracken Darrell, Steve Rendle, Benno Dorer, Darrell, Dorer, Deborah Sophia, Juveria, Sriraj Organizations: VF, Logitech, Procter & Gamble, Whirlpool Corp, General Electric, Corp, Thomson Locations: Bengaluru

Whirlpool and Cabri told a Delaware federal court they would dismiss the case with prejudice, which means it cannot be refiled. Representatives for Whirlpool, Cabri and Haier Europe did not immediately respond to requests for comment on Friday. It said Haier had hired Cabri for its own laundry division because he knew Whirlpool's trade secrets and that it would be impossible for him to work there without disclosing them. A federal judge rejected Whirlpool's bid to block Cabri's move last May, finding the Delaware court lacked jurisdiction over the trade-secret allegations. The case is Whirlpool Corp v. Cabri, U.S. District Court for the District of Delaware, No.

Persons: Davide Cabri, Cabri, Candy, Haier, Steven Zadravecz, John, Potter Anderson, Ethan Townsend, McDermott Will, Emery Read, Blake Brittain Organizations: Law, Whirlpool, Candy Hoover Group, Whirlpool Corp, District of, Jones, Thomson Locations: U.S, Italian, Delaware, Europe, Benton Harbor , Michigan, District of Delaware, Washington

☆ As interest rates stay higher for longer, these home improvement stocks can navigate consumer trends
▼ + stars: | 2023-06-09 | by ( Alex Harring | ) www.cnbc.com time to read: +10 min

Investors are hoping that next week's Federal Reserve meeting offers more clarity about the path interest rates could take. Rising interest rates squeeze consumers, while a cut to follow should help boost economic activity. These pricey purchases are often financed, and higher rates mean higher costs. "Even if the sticker price of the thing doesn't change, the interest rate still matters a lot for their monthly budget." The "brakes were hit very hard in 2022," largely due to higher rates on the new-home construction side, he said.

Persons: Christopher Herrington, Herrington, Kurt Yinger, It's, James Hardie, Yinger, There's, Rafe Jadrosich, Jadrosich, Seth Sigman, Bank of America's Curtis Nagle, Nagle, Loop's Anthony Chukumba, Garik Shmois, Shmois, Leslie's, Julien Dumoulin, Smith, SunRun, Corinne Blanchard, Citi's Pierre Lau, SolarEdge, Lau, John Bailer, Michael Bloom Organizations: Virginia Commonwealth University, Davidson, Companies, Bank of America, Fortune Brands, UFP Industries, Barclays, Bank of America's, Williams, Pool Corp, of America, FTC, Deutsche Bank, Shoals Technologies, Caterpillar, Cummins, Newton Investment Management Locations: Louisiana, Wall, Sonoma, California

☆ Here are Friday's biggest analyst calls: Amazon, Tesla, CVS, Microsoft, XPO, AT&T, Spotify & more
▼ + stars: | 2023-04-21 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Bank of America reiterates Alphabet as buy Bank of America says it's bullish heading into Alphabet earnings next week. JPMorgan reiterates Amazon as a best idea JPMorgan says it's bullish heading into the e-commerce giant's earnings report next week. "We continue to see streaming music & audio as an attractive growth market and remain OW WMG and SPOT." Stephens initiates SentinelOne as overweight Stephens initiated the cyber security company with an overweight and says it has "best-in-class growth." JPMorgan reiterates Charles Schwab as overweight JPMorgan says Charles Schwab could be worth more if it were to "de-bank."

☆ Here are Tuesday's biggest analyst calls: Apple, Nvidia, Microsoft, Netflix, Amazon, Sunrun & more
▼ + stars: | 2023-04-18 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

This is relevant to Apple as we estimate that Google pays Apple ~$20bn for being the default search engine across iOS devices." Goldman Sachs reiterates Microsoft as buy Goldman says it's staying bullish heading into Microsoft earnings next week. Deutsche Bank reiterates Disney as buy Deutsche Bank says it sees an "attractive setup" heading into earnings in early May. HSBC upgrades Nvidia to buy from reduce HSBC said in its double upgrade of Nvidia that it's "all about AI." Deutsche Bank reiterates Amazon as buy Deutsche says it's standing by its buy rating on the e-commerce giant ahead of earnings later this month.

☆ Morgan Stanley's Slimmon names 'attractively priced' stocks to beat the economic uncertainty
▼ + stars: | 2023-04-13 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Morgan Stanley's Andrew Slimmon expects an economic slowdown in the U.S. will happen later than many have predicted. And I think that's when we will hit a slowdown and I suspect it's coming later than what many people have been predicting," said the senior portfolio manager at Morgan Stanley Investment Management. Here's what investors can buy and avoid in the face of that uncertainty, according to Slimmon. Be wary of 'very large' stocks He said he would be particularly cautious on "very large" stocks right now, referring to FAANG — Facebook (now Meta ), Amazon , Apple , Netflix and Google (now Alphabet ). "It's not a cheap stock, but to me, that's a defensive stock that you want to own in this environment as well."

☆ Here are Thursday's biggest analyst calls: Netflix, Apple, Amazon, Microsoft, FedEx, Pinterest & more
▼ + stars: | 2023-04-06 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Raymond James upgrades FedEx to outperform from market perform Raymond James said and "undeniable" positive change is underway at the shipping giant. "We are initiating coverage of XPO, one of the largest less-than-truckload (LTL) carriers, in North America, with an Outperform rating and a $44 target price." "We are initiating coverage of Skyworks Solutions, with a Buy rating and $150 target price. Raymond James upgrades Wells Fargo to strong buy from outperform Raymond James said the banking giant is well positioned in the current environment. Raymond James initiates Pinterest as outperform Raymond James said it sees "steady user growth" for Pinterest.

☆ Here are Friday's biggest analyst calls: Apple, Tesla, SVB Financial, United, Roblox, JPMorgan Chase, Meta & more
▼ + stars: | 2023-03-10 | by ( Michael Bloom | ) www.cnbc.com time to read: +7 min

LightShed downgrades Apple to sell from neutral LightShed said in its downgrade of Apple that it sees moderating growth. Baird reiterates Tesla as a top pick Baird said it sees Tesla launching heat pump technology for homes. " Baird upgrades KeyCorp to outperform from neutral Baird said it sees an attractive risk/reward for the regional bank. Baird downgrades Allbirds to neutral from outperform Baird downgraded the footwear company after its disappointing earnings report. " Oppenheimer reiterates Pool Corp as outperform Oppenheimer said it sees a compelling entry point for shares of the pool company.

☆ Ford Motor Turns to Industry Outsider to Reverse China Slump
▼ + stars: | 2023-02-24 | by ( Selina Cheng | ) www.wsj.com time to read: 1 min

People looked at a Ford Mustang Mach-E at an auto show in Shanghai in 2021. HONG KONG— Ford Motor Co. promoted Sam Wu to head its China business as the American auto maker struggles to reverse its dwindling market share in the world’s biggest car market. Mr. Wu, who joined Ford China as managing director from Whirlpool Corp. in October, takes over as president and chief executive on March 1, the Michigan-based auto maker said in a statement Thursday. In his new role, Mr. Wu will report to Ford CEO Jim Farley and replaces Anning Chen, who is due to retire in October.

☆ 'We are a long way from the top': Morgan Stanley’s Slimmon picks stocks to ride the rally
▼ + stars: | 2023-02-17 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Morgan Stanley Investment Management's Andrew Slimmon says that stocks are set to rally further. The economy is proving to be "far more resilient" than what the doomsayers had projected, says managing director and senior portfolio manager Slimmon. Stocks went through a difficult year in 2022, with the S & P 500 plummeting nearly 20%. Slimmon predicted that the U.S. Federal Reserve will raise rates a few more times, before pausing. Stock picks Although growth stocks such as tech have bounced back this year, Slimmon says the "real opportunity" is in cyclical stocks.

☆ Key inflation data in the week ahead will offer clues to future Fed rate moves and the market's path
▼ + stars: | 2023-02-11 | by ( Zev Fima | ) www.cnbc.com time to read: +8 min

Looking forward The January consumer price index (CPI) , which calculates the average change over time in prices that shoppers pay for goods and services, is slated for Tuesday. Economists and investors will use the number to gauge the odds of a soft landing or hard landing for the economy. The producer price index (PPI) for January, which calculates the change in selling prices received by producers of goods and services, is out on Thursday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio.

REUTERS/Charles PlatiauCHICAGO/DETROIT, Jan 31 (Reuters) - The companies that produce goods at the heart of the U.S. consumer economy - SUVs, washing machines, heavy equipment and hamburgers - kept rolling along at the end of 2022. Bellwethers including McDonald's (MCD.N), General Motors, Exxon Mobil (XOM.N), appliance maker Whirlpool (WHR.N) and delivery giant United Parcel Service (UPS.N), posted results that exceeded estimates. That's a good sign for the broader economy, according to Lori Calvasina, equity analyst at RBC Capital Markets. The economy's performance may depend on whether price pressures that have afflicted consumer and business spending start to wane. "As we go into 2023, there is going to continue to be inflation," said Christopher Kempczinski, McDonald's CEO, on the company's earnings call Tuesday.

☆ Whirlpool Reports Quarterly Loss After Divesting European Business
▼ + stars: | 2023-01-31 | by ( John Keilman | ) www.wsj.com time to read: 1 min

Whirlpool Corp. reported a $1.6 billion quarterly net loss following the divestiture of its European business, as the appliance maker said it was working to reduce costs. Whirlpool said net sales for the quarter ended Dec. 31 declined 15% year-over-year to $4.9 billion, weighed by what the company said was softening demand and a one-off supply-chain disruption. The Michigan-based appliance maker said it expects 2023 revenues to reach $19.4 billion, down 1% to 2% from the prior year, and for earnings per share to reach $16 to $18, ahead of the roughly $15 forecast by analysts, according to FactSet.

☆ Appliance maker Whirlpool's 2023 profit forecast beats expectations
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: +1 min

Jan 30 (Reuters) - U.S. home appliances maker Whirlpool Corp (WHR.N) forecast full-year profit above Wall Street estimates on Monday, helped by cost cuts and easing raw material prices. Shares of the appliance maker were up 3.3% at $158.2 in after-hours trading after the company reported an adjusted profit of $3.89 per share for the fourth quarter through December, beating analysts' average estimate of a profit of $3.25 per share. Whirlpool also said it expects $800 to $900 million benefit in 2023. Whirlpool, known for its refrigerators and washing machines, said it was now expecting full-year revenue of about $19.4 billion, compared with analysts' expectations of $19.2 billion, according to Refinitiv. It expects full-year earnings of $16 to $18 per share, above Wall Street expectations of $15.99 per share.

☆ LG, Whirlpool Target Customers Disconnected From ‘Smart’ Appliances
▼ + stars: | 2023-01-20 | by ( Isabelle Bousquette | ) www.wsj.com time to read: +6 min

Whirlpool Corp. said that more than half of its smart appliances remain connected, but the company declined to be more specific. Development of these smart devices is a core priority for Whirlpool and LG, the companies said. The smart-home trend began gaining traction around 2014, according to Mr. Kim, and has grown since then. Whirlpool declined to comment on the percentage of its sales represented by smart appliances. According to Murat Genc, Whirlpool’s global data, experiences & transformation officer, smart appliances are generating data from consumers and are producing new revenue opportunities.

☆ Morgan Stanley’s Slimmon says stocks will surprise Wall Street in 2023 — and names two he likes
▼ + stars: | 2023-01-19 | by ( Zavier Ong | ) www.cnbc.com time to read: +2 min

Wall Street strategists expect this year to end on a much better note than 2022 — but they still warn that the path ahead looks volatile. However, Morgan Stanley's Andrew Slimmon said he believes stocks are going to do "far better" than most expect. Slimmon also likes Pool Corp , a Louisiana-based company that sells swimming pool supplies. Fed pivot in the works His relatively positive read on the economy is a big reason for his optimism about the market. But Slimmon said he believes the bond market is signaling that the U.S. Federal Reserve will pivot "sooner than it expects."

☆ Global IT Spending Decreased in 2022
▼ + stars: | 2023-01-18 | by ( Angus Loten | ) www.wsj.com time to read: +4 min

Companies worldwide made deep cuts in enterprise technology spending last year, with tighter information-technology budgets likely to stretch well into the year ahead. Global IT spending contracted 0.2% in 2022, dropping to $4.38 trillion—a rare instance of corporations spending less on digital business tools than in the previous year, according to IT consulting and research firm Gartner Inc.Gartner had initially estimated that IT spending had increased 0.8% last year. Newsletter Sign-up WSJ | CIO Journal The Morning Download delivers daily insights and news on business technology from the CIO Journal team. Spending on business software and IT services is expected to remain steady year-over-year, together accounting for more than $2.16 trillion in projected spending in 2023, Gartner said. Within IT services, spending on consulting services alone is projected to reach $264 billion, up 6.7% from 2022, Gartner said.

☆ Whirlpool Strikes Deals to Divest Much of European, African Businesses
▼ + stars: | 2023-01-18 | by ( John Keilman | ) www.wsj.com time to read: 1 min

Whirlpool will own 25% of the new company after the transaction is completed. Whirlpool Corp., whose European operations have been challenged by Russia’s invasion of Ukraine, said Tuesday it is turning over much of its appliance business in the region to a new entity controlled by a Turkish appliance maker. The new company, which will be majority-owned by Turkey-based Arcelik AS, is expected to have a combined $6.5 billion in sales, Whirlpool said. The Benton Harbor, Mich.-based appliance maker will own 25% of the new entity after the transaction is completed, which the company said is expected to happen by the end of the year.

☆ Whirlpool to divest most of EMEA ops, form new entity with Turkey's Arcelik
▼ + stars: | 2023-01-17 | by ( ) www.reuters.com time to read: +2 min

The home appliance maker launched a review of the EMEA business in April 2022, acknowledging that it would take the company a longer time to achieve attractive EBIT margin levels amid geopolitical tensions in Europe. Whirlpool will form a new Europe-focused entity with Turkish household appliances manufacturer Arcelik (ARCLK.IS) by divesting its major domestic appliance business in the region, it said in a statement. The new entity will include Arcelik's European units such as major domestic appliance, small domestic appliance and consumer electronics. Whirlpool will own 25% of this new entity, while Arcelik will have the rest, the U.S.-based company added. The entirety of Whirlpool's EMEA business reported sales of $5.01 billion last year.

Jan 13 (Reuters) - NI Corp (NATI.O), a provider of testing and measuring equipment, said on Friday it was exploring strategic options after acquisition interest from companies that people familiar with the matter said include Emerson Electric Co (EMR.N). The acquisition interest from potential suitors, according to the sources, forced NI to adopt a so-called poison pill, which would be triggered if a person or a group's ownership of the firm reaches 10%. The sources, who requested anonymity as the discussions are confidential, cautioned that the talks with suitors including Emerson are subject to market conditions, and a deal is not guaranteed. Texas-based NI, formerly known as National Instruments, specializes in making automated testing and measurement tools to aid in research and validation of new technologies. In October, Emerson sold a majority stake in its climate technologies unit to Blackstone Inc (BX.N) in a deal that valued the business at $14 billion.

☆ This little-known pool stock can rally nearly 30% even as consumer spending dwindles, Deutsche Bank says in upgrade
▼ + stars: | 2023-01-11 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

The pandemic lockdowns are over, but consumers are still spending on renovations to enjoy more leisure time at home, Deutsche Bank said, predicting that Pool Corp shares could rally nearly 30% from here. The stock added 4% Wednesday after analyst Joe Ahlersmeyer upgraded the pool construction company to a buy from a hold rating, saying that shares and earnings guidance should surprise to the upside. Despite concerns of slowing spending on the horizon, Deutsche Bank expects higher-priced remodeling to hold up as homeowners seek to improve their homes to enjoy and sell at a higher price. Investors have also come to believe that much of Pool's success hinges on benefits from pandemic stimulus and lockdowns. Deutsche Bank boosted its price target on Pool shares to $417 from $350, representing an upside of 28% from Tuesday's close.

☆ Stocks making the biggest moves midday: Bed Bath & Beyond, Tesla, Expedia and more
▼ + stars: | 2023-01-11 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Meme stocks — A group of so-called meme stocks skyrocketed Wednesday as retail investors jumped into speculative trades again. Bed Bath & Beyond rallied 38% to trigger the trend in morning trading Wednesday. Expedia — The travel company's stock gained more than 4% after Oppenheimer upgraded it to outperform from perform. The Wall Street firm said it believes Expedia shares are discounting macro headwinds. Toll Brothers — The homebuilding stock gained 3% following an upgrade to a buy from a hold rating by analysts at Bank of America.

☆ Here are Wednesday's biggest analyst calls: Apple, Tesla, Netflix, Amazon, Salesforce, Levi's & more
▼ + stars: | 2023-01-11 | by ( Michael Bloom | ) www.cnbc.com time to read: +8 min

Bank of America downgrades Coinbase to underperform from neutral Bank of America said it sees too many headwinds for the crypto exchange. Goldman Sachs downgrades Jefferies to neutral from buy Goldman said it sees a "backlog decline" for the investment bank company. Bank of America upgrades Toll Brothers and Pulte Group to buy from neutral Bank of America upgraded several homebuilders, citing compelling valuations. "We upgrade PulteGroup to Buy (from Neutral), Toll Brothers to Buy (from Neutral), and Lennar to Neutral (from Underperform). Bank of America upgrades Dow to neutral from underperform Bank of America said it's taking a more "offensive" approach to the stock.

☆ CIOs in 2023 Want to Know: Who’s Got Talent?
▼ + stars: | 2022-12-27 | by ( Isabelle Bousquette | ) www.wsj.com time to read: +5 min

As the information technology talent gap continues into 2023, chief information officers are augmenting recruiting efforts with new models like upskilling, job sharing and rotations as well as raising salaries and offering perks to retain workers. Some also believe the shifting economy could make it easier to fill vacancies, although the short term talent market remains challenging. “It’s been a source of should we, not deprioritize, but re-sequence the work that we’re doing,” Kroger CIO Yael Cosset said of the talent shortage. Duke Energy is developing certification curricula and joining with software companies on education programs to help internal talent learn new skills, said CIO Bonnie Titone. SHARE YOUR THOUGHTS What do you think CIOs can do to find and retain talent in 2023?

☆ Pool Corp. Can Regain Buoyancy
▼ + stars: | 2022-12-19 | by ( Spencer Jakab | ) www.wsj.com time to read: +1 min

Like boats, grills and exercise equipment, swimming pools received a gigantic pandemic demand boost from low rates, elevated savings and a need for socially distanced leisure. Unlike those categories, the people who outfit those pools are only experiencing a bust compared with that bonanza and will continue to see a lasting financial benefit. Pool Corp., the world’s largest distributor of supplies and equipment for the sector, had long been a gem of a stock because of sound management. New pool construction was on its way to smashing a record at the time, with the Pool & Hot Tub Alliance reporting 117,000 inground pools built in North America for 2021. Pool Corp.’s earnings per share jumped to $15.18 last year compared with $5.83 in 2019, and revenue rose to about $5.3 billion from $3.2 billion.

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