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The seesaw-like tension between interest rates and stock prices should remain in play in the week ahead, as investors focus on comments from Federal Reserve Chairman Jerome Powell and the February employment report. There are few earnings in the week ahead, so economic data will likely be a main driver for stocks, along with the comments from Powell. The futures market is pricing in a high chance for a quarter point, or 25 basis point hike in March. Week ahead calendar Monday Earnings: WW International, ThredUp, Trip.com, Lordstown Motor, Ciena, Grindr 10:00 a.m. Initial claims 10:00 a.m. Fed Vice Chair for Supervision Michael Barr Friday Earnings: Embraer 8:30 a.m. Employment report 2:00 p.m. Federal budget
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDocuSign Chair: The economy is correcting, and it's appropriate and healthyMaggie Wilderotter, Docusign chair and former Frontier Communications CEO, joins 'Squawk Box' to discuss what Wilderotter would tell the Norfolk Southern CEO, how she views the current economy, and more.
DocuSign downgraded at UBS
  + stars: | 2023-02-21 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDocuSign downgraded at UBSThe "Halftime Report" traders debate the biggest analyst calls of the day.
Three-Stock Lunch: Regeneron, General Mills and DocuSign
  + stars: | 2023-02-21 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree-Stock Lunch: Regeneron, General Mills and DocuSignEva Ados, chief investment strategist at ERShares, joins ‘Power Lunch’ to discuss Regeneron, General Mills and DocuSign.
Home Depot also provided a muted outlook for fiscal 2023 and expects sales growth to be approximately flat due to a tougher consumer backdrop and a pivot away from goods toward services. Nordson reported sales of $610.5 million in the period and earnings per share of $1.95, excluding items. The company reported quarterly earnings of $1.30 per share, excluding items. That result beat analysts' earnings expectations of $1.07 per share, according to FactSet. The updated outlook includes organic net sales growth of about 10% and adjusted diluted per-share earnings growth of 7% to 8% in constant currency.
Bank of America downgrades Constellation Energy to neutral from buy Bank of America downgraded the energy company mainly on valuation. " Raymond James reiterates Carvana as market perform Raymond James said it's cautious heading into Carvana earnings later this week. Bank of America reiterates Meta as buy Bank of America said it's bullish on the company's recently announced Meta Verified subscription service. " Bank of America reiterates Alphabet as buy Bank of America said it's standing by its buy rating despite the ChatGPT thread to Alphabet. Barclays reiterates Zoom as equal weight Barclays said expectations are low heading into Zoom earnings later this month.
DocuSign Plans to Lay Off 10% of Workers
  + stars: | 2023-02-16 | by ( Will Feuer | ) www.wsj.com   time to read: 1 min
DocuSign Inc. said it plans to reduce its staff by about 10%, or approximately 700 jobs, in its second round of cuts since September as the company grapples with slowing growth. The latest round of cuts focus on the company’s field organization, according to a securities filing. In September, the company said it was reducing its staff by about 9% as it looked to trim operating costs.
DocuSign to lay off 10% of workers in second round of cuts
  + stars: | 2023-02-16 | by ( ) www.reuters.com   time to read: 1 min
Feb 16 (Reuters) - Digital document signature product provider DocuSign Inc (DOCU.O) said on Thursday that it would cut about 10% of its workforce, its second round of layoffs in five months. The company, which has seen slower growth in 2022 after a pandemic boom, announced a 9% job reduction in September. DocuSign expects to take charges of $25 million to $35 million on the restructuring plan, with the majority being incurred in the quarter ending April 30. As of Jan. 31, 2022, the company had 7,461 employees, according to a regulatory filing. Reporting by Akash Sriram in Bengaluru; Editing by Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.
There were some buying opportunities in tech on Thursday, according to two "Halftime Report" traders. Ritholtz Wealth Management CEO Josh Brown bought a small position in DocuSign Thursday morning, ahead of its anticipated earnings report in early March. People were calling it a stay-at-home stock," Brown said on " Halftime Report ." If the stock tanks on its earnings report, he expects it's an opportunity to increase his position. Brown had purchased shares last week , anticipating a rally into earnings and potential drop after the report.
Twilio — Shares jumped 19% after Twilio beat revenue expectations in its most recent quarter. Otherwise, Shopify beat expectations on the top and bottom lines. The digital communications stock reported earnings of 88 cents per share on revenue of $13.59 billion. Hasbro — Hasbro rose more than 2% after the toymaker beat earnings per share expectations. Otherwise, the firm beat earnings expectations in its latest quarter, while revenue came in line with estimates.
The Docusign Inc. website on a laptop computer arranged in Dobbs Ferry, New York, U.S., on Thursday, April 1, 2021. E-signature software company DocuSign on Thursday announced plans to cut around 10% of its workforce. DocuSign had 7,461 employees in January 2022 before it announced an earlier round of layoffs last September that impacted 9% of its workforce. The company said the latest cuts will impact about 700 employees. DocuSign said it is cutting employees in order to support the company's growth, scale and profitability objectives.
Some of the details appeared Thursday on the security blog Lawfare, where two people provided a rundown of what they said they heard at one TikTok briefing last week. He said his center has received funding from TikTok, but that he had no view on whether TikTok’s assurances were satisfactory. “We have shifted our approach,” Erich Andersen, the general counsel of ByteDance, the Chinese owner of TikTok, told the Times. A key partner of TikTok is the U.S. computing giant Oracle, which has its headquarters in Austin, Texas, where TikTok may choose to house the data of its U.S. users. The code name “Project Texas” became public last year.
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.
Final Trades: General Electric, DocuSign, Wynn Resorts & more
  + stars: | 2022-12-20 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFinal Trades: General Electric, DocuSign, Wynn Resorts & moreThe "Halftime Report" traders give their top picks to watch for the second half.
The index behind one of the biggest ETFs on the market is getting a shakeup next week, creating a shift in the portfolios of many investors. The index is the backbone of the Invesco QQQ Trust , one of the biggest ETFs on the market with more than $150 billion in assets under management. Investors who own the QQQ will see their own portfolios indirectly change as the massive fund rotates its holdings. Discovery are also not perfect fits within the tech sector. The Invesco QQQ Trust, which was launched in 1999, has an expense ratio of 0.20%.
Three Stock Lunch: DocuSign, Lululemon and Broadcom
  + stars: | 2022-12-09 | by ( ) www.cnbc.com   time to read: 1 min
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThree Stock Lunch: DocuSign, Lululemon and BroadcomDave Wagner, Aptus Capital Advisors, joins 'Power Lunch' to discuss his investing take on three stocks: DocuSign, Lululemon and Broadcom.
Will this data point suddenly make the Federal Reserve raise 75 basis points next week, versus the 50 basis point hike expected? (1 basis point equals 0.01%.) The dollar, which has been in a notable downtrend for the last month, rallied initially, then fell back. The managers collectively expect earnings to rise by an average of 10% next year (71% expected earnings to rise). Blackrock, in a pessimistic 2023 outlook, said "We find that earnings expectations don't yet price in even a mild recession."
Futures edge higher ahead of producer prices data
  + stars: | 2022-12-09 | by ( ) www.reuters.com   time to read: +2 min
SummarySummary Companies Futures up: Dow 0.10%, S&P 0.22%, Nasdaq 0.30%Dec 9 (Reuters) - U.S. stock index futures ticked up on Friday ahead of monthly producer prices data that could offer more clues on how long the Federal Reserve will keep raising interest rates to tame decades-high inflation. ET, is expected to show producer prices edged higher to 7.2% last month after an 8% rise in October. Core producer prices, which exclude volatile food and energy components, are expected to show a 5.9% rise after a 6.7% growth in October. Consumer prices data for November will be out next Tuesday, a day ahead of the U.S. central bank's policy decision where it is widely expected to raise rates by 50 basis points. U.S.-listed China stocks rose on optimism over China's COVID policy pivot.
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDocuSign CEO on earnings: Pushing growth in digital self-service motionsAllan Thygesen, DocuSign CEO, joins 'TechCheck' to discuss what's behind the company's outperformance, DocuSign's gross margin performance and more.
Broadcom (AVGO) – Broadcom shares rallied 3.6% in premarket action after the chip maker reported better-than-expected quarterly results and an upbeat outlook. Netflix (NFLX) – Netflix gained 3% in the premarket following two positive analyst reports. DocuSign (DOCU) – DocuSign posted an 11.3% premarket jump following upbeat quarterly results for the electronic signature technology company. The move cuts Walgreens' stake to about 17% from 20% and will give Walgreens funds to pay down debt and fund strategic priorities. RH (RH) – The company formerly known as Restoration Hardware beat top and bottom line estimates in its latest quarterly report.
Check out the companies making the biggest moves midday:Lululemon — Shares of Lululemon fell 12% after the athletic apparel company gave a weaker-than-expected fourth-quarter outlook. Broadcom — Broadcom gained 3.1% after giving an upbeat revenue forecast and reporting better-than-expected quarterly results after the bell Thursday. Netflix — Netflix gained 5% after being named a "best idea" for 2023 by Cowen and being upgraded by Wells Fargo to overweight from equal weight. DocuSign — Shares of DocuSign jumped 16% after the electronic signature company posted upbeat quarterly results. Bath & Body Works — Shares of Bath & Body Works gained rose 2.1% after activist investor Dan Loeb boosted his stake in the retailer.
Lululemon – Shares of athletic apparel company Lululemon shed 9% after it said that it sees a weaker fourth quarter than Wall Street analysts expected from the company. For the third quarter, Lululemon beat expectations, reporting earnings of $2.00 per share and $1.86 billion in revenue. Analysts polled by Refinitiv expected $1.97 in earnings per share and revenue of $1.81 billion. Costco – Shares of retailer Costco slumped 1% after the company reported revenue that fell short of Wall Street's expectations. The company reported $54.44 billion in revenue where analysts surveyed by Refinitiv anticipated $54.64 billion during the quarter.
U.S. stock futures were little changed on Wednesday night following a fifth straight day of losses for the S&P 500 as Wall Street weighed the likelihood of a recession. S&P 500 futures added 0.02%, while Nasdaq 100 futures was up 0.004%. During the regular session Wednesday, the S&P 500 declined 0.19% in its fifth straight losing session. Still, investors are increasingly concerned whether the central bank can avoid a recession next year in its attempt to squash inflation. On the economic front, investors are awaiting the latest data on weekly jobless claims before the bell on Thursday.
Markets could be volatile and in search of a catalyst in the week ahead, as investors consider year-end trades in the lull before the Federal Reserve's December 13-14 policy meeting. Stocks were higher in the past week, with the year's worst performing sectors, communications services and consumer discretionary companies, leading the gains. On the geopolitical front, Arone said investors will watch the Dec. 6 runoff election in Georgia's senate race . Week ahead calendar Monday Earnings: Sumo Logic , Gitlab 9:45 a.m. Services PMI 10:00 a.m. ISM services 10:00 a.m. Initial jobless claims 10:00 a.m. Quarterly services survey Friday 8:30 a.m. PPI 10:00 a.m. Consumer sentiment 10:00 a.m. Wholesale trade
Driving the action were several key economic reports, including the November ADP employment and nonfarm payrolls reports and the October personal spending report. The comments came after a softer-than-expected ADP employment report, but before a stronger-than-expected nonfarm payrolls report. With these kinds of mixed signals, expect more market choppiness as investors remain on the hunt for more definitive signs that the Fed is winning its war on inflation and can therefore definitively ease up on their hawkish stance. Initial jobless claims for the week ending Nov. 26 were 225,000, a decrease of 16,000 from the prior week and below expectations of 235,000. Finally, on Friday the all-important nonfarm payrolls report was released, indicating a 263,000 payrolls increase in November, above the 200,000 expected.
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