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☆ Mark Cuban passed on an early Uber investment—his $250,000 would be worth $2.3 billion today: ‘Whoops’
▼ + stars: | 2023-08-19 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +3 min

"Just think: If I would've given him $250,000 on a [$10 million] valuation, it'd be billions," Cuban said. Specifically, given Uber's market capitalization of $90.1 billion as of Friday, Cuban's $250,000 would be worth $2.25 billion today. But, still," said Cuban, whose net worth is currently estimated at $5.1 billion. Cuban and Kalanick already had history at the time: Cuban invested $1.7 million in Kalanick's previous venture, a peer-to-peer networking startup called Red Swoosh, in 2005. However, Cuban said he didn't agree with Kalanick's $10 million valuation of the startup at the time: "I said, 'I'll do it at [a] $5 million valuation...' for Uber!"

Persons: Mark Cuban's, Uber, Travis Kalanick, Kevin Hart's Peacock, Hart, Cuban's, Kalanick, Cuban, Troy Carter, Carter, Mark Cuban, Warren Buffett Organizations: Uber, Cuban, SXSW, CNBC

☆ Instacart eyes September IPO
▼ + stars: | 2023-08-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInstacart eyes September IPOCNBC’s Deirdre Bosa joins 'Power Lunch' to discuss Instacart's plan to go public.

Persons: Deirdre Bosa

☆ Earnings this week show shoppers will spend money for value, favoring two retail stocks
▼ + stars: | 2023-08-18 | by ( Paulina Likos | ) www.cnbc.com time to read: +11 min

A busy week of retail earnings revealed that American consumers are spending with value top of mind. This disparity signals that certain discretionary goods categories are working while others are not. TGT YTD mountain Target YTD performance Target on Wednesday reported a second-quarter that reflected weak sales along with a slowdown in discretionary spending. TJX YTD mountain TJX Companies YTD performance TJX tells a different story. COST YTD mountain Costco YTD performance Looking ahead, Costco is set to release its fiscal fourth-quarter earnings on Sept. 26.

Persons: Jim Cramer, Matthew Shay, Doug McMillon, Brian Cornell, That's, Maxx, TJX, Ernie Herrman, it's, ROSS, Ross, Jim, Jim Cramer's Organizations: Walmart, TJX Companies, Costco, National Retail Federation, CNBC, Retailers, Health, Wellness, Walmart's, Marshalls, & Beverage, Food & Beverage, Target, Ross Stores, Corbis, Getty Locations: Maxx, TJX, U.S, Teterboro , New Jersey

REUTERS/Mario Anzuoni/File Photo Acquire Licensing RightsNEW YORK, Aug 17 (Reuters) - Resilient U.S. consumer spending drove Walmart's (WMT.N) better-than-expected second-quarter results and forecast hike but its international business on Thursday posted its best quarterly performance in several years. The retail behemoth's international business, which spans 19 countries, posted a 13.3% jump in sales during the second quarter, its strongest result since at least 2016, Refinitiv data shows. The unit posted $27.6 billion in sales, or 17% of the company's quarterly revenue, beating market estimates of $26.12 billion. In India, Walmart's majority-owned business Flipkart posted double-digit sales growth and PhonePe processed more than 5 billion transactions in a single month, Walmart said. "Walmart's international business continues to perform well.

Persons: Mario Anzuoni, Walmart's, Doug McMillon, Flipkart, Judith McKenna, McKenna, Kathryn McLay, Jason Benowitz, Siddharth Cavale, Aishwarya Venugopal, Vanessa O'Connell, Mark Porter Organizations: Walmart, REUTERS, Reuters Graphics, Unilever, Caterpillar, Sam's, Walmart International, Walmart's Sam's, Thomson Locations: Rosemead , California, U.S, Canada, United States, Mexico, India, China, New York, Bengaluru

An employee arranges shopping carts outside a Walmart store in Chicago, Illinois, U.S., November 20, 2018. Shares in Walmart, which have climbed 12.3% this year, were up about 3% in premarket trading. Smaller rival Target (TGT.N) on Wednesday beat quarterly profit estimates, benefiting from leaner inventory, but in contrast to Walmart, cut its forecast for the year. Online sales rose 24% in the second quarter, mainly driven by double-digit growth in store-fulfilled pickup and delivery. The company's global advertising business, called Walmart Connect, rose 35%.

Persons: Kamil Krzaczynski, Hogan, John David Rainey, Aishwarya Venugopal, Siddharth Cavale, Sriraj Kalluvila, Sharon Singleton Organizations: Walmart, REUTERS, Walmart Inc, Riley, Walmart's, Wednesday, Thomson Locations: Chicago , Illinois, U.S, United States, Bengaluru, New York

☆ Three ways Walmart and Target are diverging as consumers watch their wallets
▼ + stars: | 2023-08-17 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +4 min

Target followed that pattern in the second quarter. E-commerce sales rose 24% for Walmart U.S. in the second quarter. Both retailers pointed to curbside pickup as a major driver of online sales — a key differentiator from competitor Amazon. Walmart chalked up online sales gains to store pickup and delivery, as well as more advertising revenue. Sales of frequency categories, such as food and beauty items, weren't enough to offset weaker discretionary sales at the retailer.

Persons: Rainey, Christina Hennington, That's, Target's Hennington, Taylor Swift, Stanley tumblers, Chip, Joanna Gaines Organizations: Wal, Rogers, Getty, Walmart, Walmart U.S, Amazon Locations: Rogers , Arkansas, Tenleytown, Washington, DC

☆ Gig workers are tracking customers who reduce tips after delivery by marking their homes on Google Maps
▼ + stars: | 2023-08-17 | by ( Alex Bitter | ) www.businessinsider.com time to read: +5 min

Workers for Instacart and other delivery apps are marking tip-baiters on Google Maps. Several points labeled "Tip Baiter" disappeared from Google Maps after Insider reached out to Google for comment. Some gig workers are fighting back and warning colleagues not to take orders from tip baiters by labeling customers' homes on Google Maps. But several points labeled "Tip Baiter" disappeared from Google Maps after Insider reached out to Google for comment on this story. The Minnesota shopper told Insider about another Costco order she delivered to a restaurant outside of the Twin Cities.

Persons: Instacart Organizations: Instacart, Google, Service, Costco, Workers, Walmart, Twin, North Carolina Locations: Wall, Silicon, Minnesota, Milwaukee , Wisconsin, Twin Cities, North

Consumers Credit Union Frequently Asked QuestionsHow long does Consumers Credit Union take to approve a loan? Consumers Credit Union TrustworthinessConsumers Credit Union is a Better Business Bureau-accredited business that has an A+ grade. Consumers Credit Union CompetitorsHow Consumers Credit Union compares Consumers Credit Union Auto LoanPenFed Auto LoanNavy Federal Auto Loans Chevron icon It indicates an expandable section or menu, or sometimes previous / next navigation options. Borrowers who pay a one-time $5 membership fee to the Consumers Cooperative Association qualify for membership with Consumers Credit Union. Navy Federal's minimum rates are more competitive than Consumers Credit Union, but you'll need an excellent credit score to qualify for them.

Persons: You'll, hasn't, Ryan Wangman Organizations: Consumers Credit Union Auto Loan, Consumers Credit, Credit Union, Consumers Credit Union, Consumers Credit Union Auto, Consumers Cooperative Association, Consumers Cooperative Association ., Auto Loan, Auto, Social, Chevron, Consumers, Union, Auto Loan Navy Federal Auto Loans, . Navy, Navy, Department of Defense, Finance, Northwestern University, Boston Globe Locations: Chicago

☆ 'Nothing wrong' with Walmart's earnings report, Oppenheimer's Rupesh Parikh
▼ + stars: | 2023-08-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'Nothing wrong' with Walmart's earnings report, Oppenheimer's Rupesh ParikhRupesh Parikh, Oppenheimer analyst, joins 'Squawk on the Street' to discuss why the pack sizes are important for Walmart, what Parikh took away from Walmart's earnings results, and the company's standings relative to peers.

Persons: Oppenheimer's, Parikh, Oppenheimer Organizations: Walmart

☆ Walmart vs Target: When it comes to groceries it's not really a competition
▼ + stars: | 2023-08-17 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +4 min

Walmart posted surprisingly strong sales growth in the last quarter, while Target reported a decline. As shoppers increasingly prioritize essentials, one in four US grocery dollars are spent at Walmart. When Walmart's grocery sales are combined with those of its subsidiary warehouse club Sam's Club, the total approaches a third of total US grocery spending. Target meanwhile accounts for 3% of grocery dollars, or about a tenth of Walmart Inc., per Numerator. Target sells those things too, of course, but if shoppers are already heading to Walmart for groceries, they may not want to make a second stop.

Persons: headwind, Walmart's, John David Rainey, Rainey, Target's, Sara Batchelder, Neil Saunders Organizations: Walmart, Target, Service, Costco, Walmart —, Kroger, Albertsons, Sam's Club, Walmart Inc, Target's Locations: Wall, Silicon

☆ Forrester Research's Sucharita Kodali on Walmart: Top line may suggest consumer is flatlining
▼ + stars: | 2023-08-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailForrester Research's Sucharita Kodali on Walmart: Top line may suggest consumer is flatliningSucharita Kodali, Forrester Research retail analyst, joins 'Squawk Box' to discuss Walmart's quarterly earnings results, which lifted its outlook for the full fiscal year after beating Wall Street’s expectations for sales and earnings, and more.

Persons: Forrester, Wall Organizations: Walmart, Forrester Research

☆ Walmart raises full-year earnings forecast as grocery, online growth fuel higher sales
▼ + stars: | 2023-08-17 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +5 min

It said adjusted earnings per share for the year will range between $6.36 and $6.46. That compares with its prior guidance for consolidated net sales gains of 3.5% and an adjusted earnings per share range of between $6.10 and $6.20. Transactions increased by 2.9% and the average ticket rose by 3.4% for Walmart U.S.Same-store sales for Walmart U.S. grew by 6.4% in the second quarter, excluding fuel, compared with the year-ago period. Sales for Walmart Connect, the company's advertising business in the U.S., grew 36% year over year. In the grocery department at Walmart U.S., sales of private labels rose 9% year over year.

Persons: John David Rainey, Rainey, Doug McMillon, Judith McKenna, Kath McLay, Chris Nicholas, " Rainey, Walmart's, John Furner Organizations: Walmart, Walmart U.S, CNBC, Sam's, Walmart Connect Locations: U.S

Despite these challenges, Walmart International has performed strongly under McKenna's leadership, under which it exited poorly performing operations in Japan, Britain, Argentina and Brazil. McKenna has led Walmart International since 2018, overseeing a multi-year transformation that resulted in the unit delivering more growth and stronger financial results across the board, Walmart CEO Doug McMillon wrote in a memo to employees. Sam's Club, a rival to Costco (COST.O), for years had been an underperforming business with muted sales growth. Sam's Club, a business unit with $84 billion of yearly revenue, has posted 12.7% average annual comparable sales growth since McKay took over the division, according to a Reuters calculation. Walmart also announced that Christopher Nicholas, currently chief operating officer of Walmart U.S., would replace McLay as CEO of Sam's Club.

Persons: Mario Anzuoni, Kathryn McLay, Judith McKenna, McKenna, Doug McMillon, Piper Sandler, McKay, she's, Edward Jones, Brian Yarbrough, Christopher Nicholas, Ananya Mariam Rajesh, Siddharth Cavale, Anil D'Silva, Sandra Maler, Jamie Freed Organizations: Walmart, REUTERS, Walmart Inc, Walmart International, Sam's, Woolworths, Sam's Club, Costco, Walmart U.S, McLay, Jan, Thomson Locations: Rosemead , California, U.S, China, Mexico, South Africa, Japan, Britain, Argentina, Brazil, India, Walmart's U.S, Walmart Mexico, Bengaluru, New York

☆ Target slashes full-year earnings forecast as retailer struggles to win over thrifty shoppers
▼ + stars: | 2023-08-16 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +4 min

In this article TGT Follow your favorite stocks CREATE FREE ACCOUNTwatch nowTarget on Wednesday missed quarterly sales expectations and slashed its full-year forecast, as it again had trouble convincing shoppers to buy more than necessities. Target's struggling shares rose 3% Wednesday despite the soft forecast, as its fiscal second-quarter earnings topped expectations and inventory levels improved. CEO Brian Cornell said Target's sales and store traffic improved in July. Comparable sales, a key metric that tracks sales online and at stores open at least 13 months, declined 5.4%. Digital comparable sales dropped 10.5% Sales softened in the second half of May and into June before recovering in July, Cornell said.

Persons: Target's, Brian Cornell, Cornell, Michael Fiddelke, Clawing Organizations: Investors, Amazon

☆ Mets blast Pirates 8-3 behind DJ Stewart's 2 HRs
▼ + stars: | 2023-08-16 | by ( Field Level Media | ) www.reuters.com time to read: +2 min

Mandatory Credit: Gregory Fisher-USA TODAY Sports Acquire Licensing RightsAugust 16 - DJ Stewart homered twice and finished with three RBIs on Wednesday afternoon for the host New York Mets, who beat the Pittsburgh Pirates 8-3 in the rubber match of a three-game series. Francisco Lindor's two-run single closed out a three-run second inning and Brandon Nimmo added an RBI single in the fourth. Nimmo drew two walks while Ortega had a double, a single and a walk. Pirates starter Johan Oviedo (6-13) gave up four runs on five hits and five walks while striking out three over four-plus innings. The Pirates immediately answered in the third, when Hayes hit a leadoff double and Reynolds homered to left-center field.

Persons: Joey Cora, DJ Steward, Gregory Fisher, DJ Stewart, Francisco Lindor's, Brandon Nimmo, Pete Alonso, Rafael Ortega, Tylor Megill, Phil Bickford, Brooks Raley, Trevor Gott, Adam Ottavino, Nimmo, Ortega, Bryan Reynolds, Alika Williams, Ke'Bryan Hayes, Johan Oviedo, Stewart, Omar Narvaez, Jonathan Arauz, Hayes, Reynolds, Oviedo, Alonso, Ryan Borucki, Daniel Vogelbach, Connor Joe, Bickford, Alfonso Rivas, Williams, Jose Hernandez, Jeff McNeil, Rivas misplayed Narvaez's, grounder, Ortega's Organizations: New York Mets, Base, Pittsburgh Pirates, Citi Field, USA, Mets, Pirates, homering, The Pirates, Thomson Locations: New York City , New York, USA

☆ Here are Tuesday's biggest analyst calls: Disney, Nvidia, Ford, Walmart, JPMorgan, Palo Alto and more
▼ + stars: | 2023-08-15 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Daiwa reiterates Disney as buy Daiwa is standing by its buy rating on Disney after the company's earnings report last week. Deutsche Bank reiterates Palo Alto Networks as buy Deutsche Bank is bullish heading into earnings later this week. Barclays reiterates Walmart as overweight Barclays is bullish heading into earnings later this week. " Bank of America downgrades Phillips 66 and Marathon Petroleum to neutral from buy Bank of America downgraded several refiners and said the risk/reward is "no longer compelling." Bank of America initiates Turnstone Biologics as buy Bank of America said the biopharmaceutical company is well-positioned.

Persons: it's, Daiwa, KBW, Berkshire Hathaway, Morgan Stanley, Pharvaris, Wells Fargo, Wells, it's bullish, Hannon Armstrong, KeyBanc, PSTG, " Bank of America downgrades Phillips, DINO, Ford Organizations: UBS, Nvidia, Disney, Deutsche Bank, Networks, JPMorgan, Citigroup, Bank of America, ISI, Barclays, Walmart, " Bank of America, of America, Marathon Petroleum, U.S, MPC, Ford

☆ Instacart forbids shoppers from giving customers paper receipts from their order. Here's why.
▼ + stars: | 2023-08-15 | by ( Alex Bitter | ) www.businessinsider.com time to read: +5 min

Instacart shoppers aren't allowed to give customers the paper receipt from the store. The markups often surprise customers, three Instacart shoppers told Insider. The in-app reminder that Instacart shoppers receive to keep the paper receipt from the store. Instacart shoppers don't directly benefit from the markups on items that Instacart sellsSome markups are substantial. In North Carolina, another Instacart shopper told Insider about a recent trip that involved buying an expensive bottle of wine.

Persons: Instacart, vane.ssota Organizations: Service, Shoppers, Costco Locations: Instacart, Wall, Silicon, Oregon, California, Virginia, North Carolina

☆ Will Smith: The No. 1 one thing you can't build a successful career without—you may already have it
▼ + stars: | 2023-08-15 | by ( Ashton Jackson | ) www.cnbc.com time to read: +3 min

The secret to success is simple, says Academy Award-winning actor Will Smith: Surround yourself with great people. Success is "a team sport," Smith, 54, said on a recent episode of "Hart to Heart," comedian Kevin Hart's Peacock talk show. The manager's advice was an example of support and collective decision-making between Smith and his team, family and friends, Smith said. What Smith calls a squad, Lisa Skeete Tatum — founder and CEO of Landit, a career consulting platform — calls a "personal board of directors." It's an essential factor in having a fulfilling, successful career, Tatum told CNBC Make It last year.

Persons: Will Smith, Smith, Hart, Kevin Hart's Peacock, James Lassiter, Lassiter, Steven Spielberg, Spielberg, Lisa Skeete Tatum —, Tatum, who's, Warren Buffett Organizations: CNBC

A customer leaves one of the stores of discount retail chain Target in Ancaster, January 15, 2015. REUTERS/Peter Power/File PhotoAug 14 (Reuters) - Target (TGT.N) is expected to post its first quarterly drop in revenue in about six years when it reports results on Wednesday, as the big-box retailer reels from a shift in consumer spending away from discretionary goods to services. "Target is going to suffer more versus the others because they have a much larger consumer discretionary element to their business," Edward Jones analyst Brian Yarbrough said. At least 16 analysts have cut their price targets on the retailer since the beginning of June as its merchandise is skewed towards discretionary items such as clothes, electronics and beauty products. THE CONTEXTTarget in May had warned of dour second-quarter results as inflation forces consumers to shun non-essential goods.

Persons: Peter Power, Edward Jones, Brian Yarbrough, Erik Carnell's Abprallen, Group's Joseph Feldman, Jane Hali, Jessica Ramirez, Granth, Vinay Dwivedi Organizations: REUTERS, Mastercard, American Express, Pride, Associates, Reuters, Refinitiv, Walmart, Target, Thomson Locations: Target, Ancaster, Bengaluru

☆ A Ron DeSantis supporter had to fire undocumented staff who'd worked at his restaurant for decades after being fined $500,000. He thinks DeSantis' immigration crackdown has gone too far.
▼ + stars: | 2023-08-14 | by ( Sonam Sheth | ) www.businessinsider.com time to read: +2 min

A Florida restaurant owner was forced to fire undocumented staff after being fined $500,000, The Miami Herald reported. Richard Gonzmart, the owner of the restaurant, is an ardent supporter of Florida Gov. But he thinks DeSantis' immigration crackdown has gone too far and wants stronger protections for migrants. Ron DeSantis, but he told the Herald DeSantis' immigration crackdown has gone too far and that he wants stronger protections for migrants. He was referring to a Florida immigration law that requires businesses with more than 25 employees to check their employees' work eligibility using E-Verify.

Persons: Richard Gonzmart, Ron DeSantis, DeSantis, He's, Gonzmart, —, it's Organizations: Miami Herald, Florida Gov, Service, Herald Locations: Florida, Wall, Silicon, Tampa, Texas

☆ Walmart workers reveal 7 secret terms they use on the job
▼ + stars: | 2023-08-14 | by ( Yeji Jesse Lee | ) www.businessinsider.com time to read: +3 min

Insider spoke to Walmart employees about the slang terms they use at work. According to one Walmart employee, it can happen when they have more product than what fits on the shelf. Another employee told Insider that at their store, they deliberately "plug" to make the shelves look more full if they're running low on stock. While officially, it's called OneWalmart, employees told Insider that everyone just calls it "The Wire." Meat WallThe meat wall is where Walmart stores stock their meat products — from ground beef to chicken to deli meats.

Persons: it's, It's, David J, Phillip, you'll, Jeffrey Greenberg Organizations: Walmart, Service, Privacy, Universal, Getty, Mule Walmart Locations: Wall, Silicon, Texas

☆ A revolution in weight loss treatment may force a reckoning for food and beverage companies
▼ + stars: | 2023-08-13 | by ( Christina Cheddar Berk | ) www.cnbc.com time to read: +10 min

One such prediction came Monday from Morgan Stanley analysts who forecasted a 1.3% drop in calorie consumption in the U.S. by 2035. The shift in behavior is notable because it will affect a sizeable demographic group that represents a disproportionate share of food consumption, the analysts said. In fact, some patients taking these medicines say they have to sometimes force themselves to eat due to a lack of appetite. These types of patterns were seen in consumer research Morgan Stanley conducted in June and July among 300 patients taking these medicines. Keurig Dr Pepper, with its coffee business accounting for about 30% of corporate sales, offers some diversification from at-risk beverage categories, Morgan Stanley said.

Persons: you've, Morgan Stanley, Pamela Kaufman, Read, Campbell, Mondelez, Eli Lilly's Mounjaro, Morgan Stanley's, Morgan, John David Rainey, We've, we're, Rainey, Dara Mohsenian, Eric Serotta, Dr Pepper Organizations: Hostess Brands, Hershey, Nordisk's Ozempic, Centers for Disease Control, Food and Drug Administration, Novo Nordisk, Industry, Lawmakers, Walmart Locations: U.S, Cava

☆ Retailers are shaping a wave of laws to crack down on organized theft — here's how they do it
▼ + stars: | 2023-08-11 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +13 min

Since 2022, at least nine states – six so far this year – have passed laws to impose harsher penalties for organized retail crime offenses. The new and proposed laws aim to deter brazen retail crime and go after the so-called kingpins who lead organized theft groups. But critics say the measures may not actually reduce organized retail crime, and could disproportionately harm marginalized groups. Plus, dozens of states already have organized theft laws on the books and the crime is still increasing, according to trade associations. Retailers and lawmakers say the misdemeanor charges have emboldened theft groups and allowed organized retail crime to spread.

Persons: Scott Olson, Doug McMillon, shoplifters aren't, Adrian Hemond, It's, they're, Chuck Grassley, Catherine Cortez Masto, CORCA, Cortez Masto, Cortez, Grassley, Sen, Anna Moneymaker, David Johnston, Jake Horowitz, Horowitz, criminologists, JC Hendrickson, Hendrickson, it's, cleaver, Manhattan, Manhattan DA Alvin Bragg, Barry Williams Organizations: CNBC, National Retail Federation, Walmart, U.S . Senate, Grassroots, eBay, Target, Coordination Center, Nevada Democrats, Cheyenne High School, Pew Charitable Trust, Justice Action Network, Walgreens, Manhattan DA, New York Daily, Getty Locations: Chicago , Illinois, U.S, Iowa, North Las Vegas , Nevada, Florida, Manhattan , New York, New

☆ Chrysler owner calls for focus on reality in UAW labor talks
▼ + stars: | 2023-08-11 | by ( David Shepardson | ) www.reuters.com time to read: +2 min

People attend a Stellantis presentation at the New York International Auto Show, in Manhattan, New York City, U.S., April 5, 2023. REUTERS/David 'Dee' DelgadoAug 11 (Reuters) - Chrysler parent Stellantis (STLAM.MI) sharply criticized the demands of the United Auto Workers (UAW) union on Friday, saying they need "a focus on reality from everyone involved." A UAW spokesman declined immediate comment on Stewart's letter, but earlier this week UAW President Shawn Fain called the Stellantis proposals "trash" and tossed a copy of them in a waste basket in live streamed remarks. "Stellantis proposals are a slap in the face," Fain said disclosing the company was proposing cuts to healthcare coverage, fewer vacation days for new hires and lifting a cap on temporary employees. The UAW also said the company opposes an end to two-tier wages, a practice of newer hires getting paid much less than veteran workers.

Persons: David, Dee, Delgado, Mark Stewart, Shawn Fain, Stewart, Fain, Stellantis, David Shepardson, Mark Porter, Alexander Smith Organizations: New York, REUTERS, Chrysler, United Auto Workers, UAW, Reuters, Stellantis, General Motors, Ford, Thomson Locations: Manhattan , New York City, U.S, America

☆ Credit Suisse raises Walmart price target, says retailer is a buy ahead of earnings
▼ + stars: | 2023-08-11 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Investors should snap up shares of Walmart ahead of earnings, according to Credit Suisse. Analyst Karen Short maintained her outperform rating on the stock and raised her price target by $10 to $180. Walmart is set to report its third-quarter earnings Thursday before the market opens. Credit Suisse raised its earnings per share forecast for the second quarter by 6 cents to $1.74, exceeding the consensus of $1.69, according to analysts surveyed by FactSet. To be sure, the analyst added that these tailwinds should be partially offset by Walmart's continued softness in general merchandise sales.

Persons: Karen Short, FactSet ., Walmart's, — CNBC's Michael Bloom Organizations: Walmart, Credit Suisse, FactSet

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