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Jefferies downgrades Las Vegas Sands and Wynn to hold from buy Jefferies downgraded several casino stocks, mainly on valuation. Jefferies reiterates Apple as buy Jefferies said it stands by its buy rating on the Mac maker but that it's concerned about the lack of social experience with Apple's VR technology. Jefferies reiterates GameStop as hold Jefferies said the revolving door of GameStop executives is "more of the same" for the company. Skechers is the world's 3rd largest footwear brand and an underappreciated growth stock, in our view." Bank of America reiterates Lowe's as a buy Bank of America said investors should buy the stock "when the market is fearful."
Persons: Wells, Jefferies, Wynn, WYNN, LVS, Oppenheimer, Apple, Wolfe, Goldman Sachs, Salesforce, Goldman, Morgan Stanley, Skechers, Lowe's, Bernstein Organizations: Vegas Sands, Citi, Apple, VR, GameStop, Mobile, Smart, Rio Tinto, UBS, Amazon, Carrier, Bank of America, of America, NextEra Energy, Xcel Energy, American Electric Power, Barclays, FedEx Locations: Vegas, Rio, China, 2023E
15 Hours on the Job With a Bagel Roller
  + stars: | 2023-05-19 | by ( Sarah Bahr | ) www.nytimes.com   time to read: +1 min
Mr. García, 58, cranes his neck to look for the B3 bus, which will take him to the Avenue U subway station. Each episode is about 10 to 20 minutes long and spotlights a day in the life of someone like Mr. García, who is one of the city’s last bagel rollers. Mr. García is used to the early call time. For members of The Times’s Food team, it was a little tougher to get out of bed, though well worth it. The team likes to slowly introduce crew members to their subjects throughout the day of the shoot.
CompaniesCompanies Related documents Hermes International SCA FollowSkechers USA Inc FollowApril 26 (Reuters) - French luxury fashion house Hermès International SCA (HRMS.PA) has settled a lawsuit brought by Skechers USA Inc (SKX.N) that claimed Hermès sneakers infringed Skechers' patent rights, according to a Wednesday filing in Manhattan federal court. Representatives for the companies did not immediately respond to requests for comment and additional details. Manhattan Beach, California-based Skechers sued Hermès last year, alleging its Eclair and Envol sneakers infringe two Skechers design patents covering the undulating "Massage Fit" soles in its "Go Walk" walking shoes. Skechers said the soles of Hermès' shoes were "substantially the same" as its soles and requested an unspecified amount of money damages. Skechers has also sued Fila, Reebok, Steve Madden and other shoemakers in the past for infringing "Go Walk" design patents, in cases that later settled.
Stocks stuck to a holding pattern this week as investors brace for an incoming wave of Big Tech earnings and the Fed's favorite inflation reading. Earnings reports have generally been better than expected so far this first quarter. Humana (HUM) reports before the bell Wednesday; Meta Platforms and Pioneer Natural Resources (PXD) report after the bell Wednesday. ET: Personal Spending & Income (includes PCE Price Index) Club trades this week Just one trade: We added 150 shares of Coterra Energy (CTRA) on Wednesday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
The MSCHF BWD releases April 11 via a one-hour draw on the art collective's website and mobile app. Actor and music artist Donald Glover sported the MSCHF BWD shoes at a recent NBA game. Similar to its Big Red Boot release in February, MSCHF organized a photoshoot for the new BWD sneaker. MSCHFMSCHF additionally commissioned a photo shoot of a model wearing the BWD shoes around New York City. But not all of MSCHF's creations are as wacky as that, or even its upcoming BWD shoes.
Dogs Win the Super Bowl Ad Lineup, Surveys Show
  + stars: | 2023-02-13 | by ( Patrick Coffee | ) www.wsj.com   time to read: +5 min
The winner of USA Today’s annual Super Bowl Ad Meter was a commercial for dog-food delivery company Farmer’s Dog Inc. that tracked one chocolate Lab’s relationship with its owner from puppyhood to old age. The USA Today rankings had some overlap with other results. Research by Ace Metrix, a unit of TV ad measurement firm iSpot.tv Inc., crowned Jeep’s Super Bowl commercial as the most likable of the night. Jeep had the game’s most likable ad, according to Ace Metrix. “In past years, we’ve seen the majority of Super Bowl conversation generated in the weeks leading up to the Big Game,” a Mars spokeswoman said.
Goldman Sachs partners are pissed
  + stars: | 2023-02-12 | by ( Matt Turner | Dave Smith | ) www.businessinsider.com   time to read: +4 min
On the agenda today:But first: Lara O'Reilly, our senior correspondent covering the advertising industry, looks ahead to the Super Bowl. Insider's Aki Ito breaks down why grandiose job titles like "senior executive vice president" are suddenly all the rage. According to a new study, early-career job titles have changed drastically in the past few years. While it's not clear how widespread this discontent is — Goldman has some 400 partners — some partners are already talking about who might replace CEO David Solomon if it comes to that. Inside the drama at Goldman SachsRead more:Tyler Le/InsiderGoogle's search engine is about to change.
Skechers on Thursday reported record quarterly sales. Skechers reported record quarterly sales on Thursday, and executives said that despite some "recessionary signals" in the marketplace, they expect a strong second half, buoyed by robust demand for its new slip-on shoes. Utah-based Kizik and industry leader Nike also are investing in slip-on technology in order to meet rising demand. The second half is where we see a ton of opportunity." Among the opportunities in the second half: slip-on shoes.
Here are the notable stocks making moves after hours on Thursday, Feb. 2. Apple — The consumer tech stock tumbled 4% in extended trading after the company reported weaker-than-expected results for its fiscal first quarter. The company reported $1.88 in earnings per share on $117.15 billion of revenue. Amazon reported $149.20 billion in revenue for the quarter, above the $145.42 billion expected, according to Refinitiv. The company reported a 2% decline in comparable transactions year over year, thanks in part to weakness in China.
While only six companies in the Dow Jones Industrial Average are reporting next week, about 20% of the S & P 500 reports, making it the biggest week of earnings this season. The Dow and the S & P 500 gained 2.2% and 2.9% this week, respectively, while the Nasdaq Composite rose 4.7%. 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.
The Fed's meeting Tuesday and Wednesday comes amid a flood of corporate earnings reports, with about 20% of the S & P 500 reporting that week. The most important day for earnings is Thursday, when Apple , Alphabet and Amazon report after the bell. The Nasdaq Composite was up 11% for the month as of Friday afternoon, well ahead of the 6.2% gain in the S & P 500. Traders have been watching the S & P 500 edge closer to the key threshold of 4,100 , its high from December. AAPL 1Y line apple Apple is also important because of the signals it can send about the strength of the consumer, supply chains and China's reopening.
Thom Browne defeated Adidas in court this month over its right to use its four stripe design. Adidas sought roughly $7.8 million in damages — equivalent to the amount Adidas believed it would have earned through a licensing agreement with Thom Browne and profits Thom Browne made off the parallel stripe designs. Fashion Designer Thom Browne arrives at Manhattan Federal Court on January 03, 2023. Thom Browne made $285 million in 2021 revenue compared to $23 billion for Adidas, according to the New York Times report. By then, Thom Browne was dressing sports teams like the NBA's Cleveland Cavaliers and European soccer club FC Barcelona for pregame appearances.
Skechers ranks second only to Nike for US shoppers seeking casual footwear, according to Cowen. Skechers' cheaper shoes are helping lure customers away from Nike and Adidas amid high inflation. Skechers is seemingly taking customers away from Nike and Adidas, as high inflation prompts consumers to buy more affordable shoes, Cowen said. While more millennials and Gen Z are buying Skechers, older generations of consumers can largely be credited with the company's evolving reputation in casual footwear. Skechers preference share among adults 55 or older was around three times higher than younger customers in 2022, according to Cowen's study.
Skechers has upside potential that Wall Street could be missing, Cowen said. Analyst John Kernan upgraded the stock to outperform from market perform. Kernan said Skechers remains the second most-liked casual sneaker brand in the U.S. with about 19% preference share, behind leader Nike at around 25%. Specifically, he's expecting 12% sales growth in 2023, above the Wall Street consensus of 9%. Kernan noted the Street may not have fully accounted for potential tailwinds coming from a supply chain recovery.
Here are Monday's biggest Wall Street calls: MKM downgrades Zoom to neutral from buy MKM said it sees growth stalling for the video-conferencing company. Baird adds Tractor Supply as a fresh pick Baird named Tractor Supply as a fresh pick, noting it sees upside to estimates. Barclays downgrades Warner Music to equal weight from overweight Barclays said the music company's financial performance is too volatile. Jefferies naming Caterpillar a top pick Jefferies said it sees upside to estimates for shares of Caterpillar. Barclays downgrades Tapestry to equal weight from overweight Barclays said it's concerned about a "negative promotional inflection" for Tapestry .
Check out the companies making the biggest premarket moves:Advanced Micro Devices — The semiconductor maker rallied nearly 3% after being upgraded by Barclays to overweight from equal weight. The Wall Street firm cited improving market share trends and a better grasp on spending from management. Abbott Laboratories — Abbott Labs lost 2.5% following a Wall Street Journal report Friday that the Justice Department is investigating conduct at its infant-formula plant in Sturgis, Michigan. Tapestry — The Coach and Kate Spade parent slid 1.85% after being downgraded to equal weight from overweight by Barclays. The Wall Street firm's reasons included inflation creeping to higher household income brackets.
Wayfair — Shares of the furniture retailer jumped 24.1% on Monday after Wayfair received upgrades from multiple Wall Street firms, include a double upgrade to overweight from underweight at JPMorgan. Spotify — Spotify gained 3.1% after the company sent an internal memo to staff on Monday announcing plans to lay off 6% of its global workforce, or about 600 employees. Western Digital — Shares jumped 7% after Bloomberg reported that merger talks between Western Digital and Kioxia are advancing. Western Digital would spin off its flash business and merge it with Kioxia in a separately traded company, the report said. Evoqua shares jumped more than 14% following the announcement.
United Airlines – Shares of United Airlines rose 3.5% after the company reported quarterly earnings that topped Wall Street's estimates for the fourth quarter, signaling strong demand amid higher prices. United posted adjusted earnings per share of $2.46 on $12.4 billion in revenue. Analysts expected adjusted earnings per share of $2.10 and $12.2 billion in revenue, per Refinitiv. Analysts surveyed by StreetAccount had anticipated adjusted earnings of $2.44 per share on revenues of $3.81 billion. PNC reported $3.49 in adjusted earnings per share on $3.68 billion of revenue.
Morgan Stanley upgrades Gap to equal weight from underweight Morgan Stanley said it sees more "upside than downside" for the stock. Morgan Stanley downgrades Skechers to equal weight from overweight Morgan Stanley downgraded the stock on valuation. Morgan Stanley names Apple a top 2023 pick Morgan Stanley said Apple is a "rare best-of-both worlds outperformer." Morgan Stanley names Amazon a top 2023 pick Morgan Stanley said Amazon is operating from a "leading e-commerce profit generating position." Morgan Stanley downgrades IBM to equal weight from overweight Morgan Stanley downgraded IBM and said "late cycle outperformance [has] runs its course."
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Rite Aid — Shares of Rite Aid dropped nearly 14% in midday trading after the pharmacy operator reported a quarterly loss, though a smaller-than-expected one, and lowered its full-year financial guidance citing seasonal markdowns among other issues. Nike — Nike shares jumped more than 13% after the company easily topped earnings and revenue estimates for its most recent quarter. The company also beat earnings expectations, but profits fell from the same period last year. Revenue beat estimates but the performance of its cyber business fell short of StreetAccount estimates, coming in at $106 million versus estimates of $111.8 million. Carnival — Shares jumped more than 4% after Carnival posted a smaller-than-expected loss in its latest quarter, though revenue was worse than expected.
And more ...Mary Meisenzahl/InsiderThese companies have also been suspected of having direct or indirect ties to Chinese forced labor in the aforementioned reports. Bosch"Bosch is committed to ensuring that its products are not produced wholly or in part by forced labor. "Compliance with human rights, labor rights and environmental standards is a top priority at PUMA and has been specified in our Codes of Conduct for over 20 years." As stated in our Business Conduct Guidelines, we reject all forms of oppression, forced labor and participation in human rights violations. We will continue to respect human rights and take a strong stand against forced labor."
Nike "needs more compelling product" for the spring, Poser wrote. Crocs and its Hey Dude brand have appealing products coming out soon, he added. Deckers, whose brands include Hoka, "remains in great shape," Poser wrote, while Hey Dude, a Crocs brand which remains wildly popular with teens, is a brand to watch in 2023 and beyond. Poser said Hey Dude could hit $1 billion in fiscal year 2022 sales. "We came away from our meetings confident that the Crocs brand will realize its 2026, $5 billion revenue target, and that Hey Dude, if managed well, which we expect, has sales opportunities that exceed that of Crocs."
In 2020, Christian Di Bratto was a senior in high school and had a part-time job as a hockey instructor. The key to a successful cold email, Di Bratto said, is including a personalized first line. To craft a good personalized line, Di Bratto generally looks at a person's LinkedIn for their work experience or education. To maximize his output, he uses an automated system that allows him to send out dozens of cold emails at once. He puts together a list of people at his target companies that have job titles like "influencer marketing manager," "brand partnerships manager," or "PR manager."
Here are Tuesday's biggest calls on Wall Street: Bank of America reinstates Deckers as buy Bank of America called Deckers a "rare, consistent compounder." Deutsche Bank reiterates Amazon as buy Deutsche said "macro challenges are no doubt pressuring ad budgets" for Amazon, but the company continues to be well positioned. JPMorgan upgrades Carvana to neutral from underweight JPMorgan said in its upgrade of the stock that risks are now better understood. JPMorgan upgrades Monster to outperform from neutral JPMorgan said the beverage giant has an "attractive narrative." Bank of America reiterates Advanced Micro Devices as buy Bank of America said shares of AMD are attractive heading into earnings Tuesday afternoon.
Ian Borden, McDonald’s CFO Photo: McDonald'sThere are really a couple of drivers for this year that resulted in that adjusted outlook. I think what I would say, coming into the role, is certainly it’s an area that I’m going to be focused on. But so far, we’ve seen [a] continued strong impact on our recommendations products from advancing developments in our AI work. We do expect that to be considerably higher than what we’ve seen in the past, reflecting the inflation that we’re dealing with across the business. When we talk about the impact of inflation, it is not just a domestic impact, it’s international as well.
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