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☆ Third Point's Loeb ups stake in Bath & Body Works, points out issues with company
  + 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 EmailThird Point's Loeb ups stake in Bath & Body Works, points out issues with companyCNBC’s ‘Halftime Report’ investment committee, Jason Snipe, Rob Sechan, Steve Weiss and Shannon Saccocia, discuss Third Point's Daniel Loeb stake in Bath & Body Works and discuss his issues with the CEO.
☆ Dan Loeb says he's willing to wage a proxy fight against Bath & Body Works if necessary
  + stars: | 2022-12-09 | by ( Yun Li | ) www.cnbc.com   time to read: +2 min
Third Point's Dan Loeb just raised his active stake in Bath & Body Works , and the investor said he's willing and able to launch a proxy fight. The stock is still down about 40% this year as the retailer struggled to turn around after L Brands spun off Victoria's Secret from Bath & Body Works in August 2021. Loeb said he believes that Bath and Body Works is not a mismanaged company, but there's a lot of room for improvement. Loeb said he's willing and able to wage a proxy fight if necessary, and that he thought it would be easy to win. However, Loeb added that a proxy fight wasn't his preference, and he'd like to give the new CEO a chance and try to work with the board.
☆ Stocks making the biggest moves premarket: Lululemon, Costco, Broadcom and others
  + stars: | 2022-12-09 | by ( Peter Schacknow | ) www.cnbc.com   time to read: +2 min
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.
☆ Stocks making the biggest moves midday: Netflix, Lululemon, DocuSign and more
  + stars: | 2022-12-09 | by ( Michelle Fox | ) www.cnbc.com   time to read: +3 min
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.
☆ Activist Dan Loeb boosts stake in Bath & Body Works and seeks board shake-up, shares jump
  + stars: | 2022-12-09 | by ( Yun Li | ) www.cnbc.com   time to read: +2 min
Third Point's Dan Loeb hiked his stake in Bath & Body Works to 6% as the activist investor said he might push for board changes to improve governance issues at the retailer, according to a new regulatory filing. Shares of Bath & Body Works jumped about 5% in premarket trading Friday. Loeb said he might seek changes in board composition if the issues at hand don't resolve quickly. Bath & Body Works didn't immediately respond to CNBC's request for comment. Last month, Bath & Body Works reported quarterly earnings that were more than double what analysts had anticipated.
☆ Bath & Body Works gave some customers early access to Candle Day, creating extra buzz for its most-anticipated sale day and drawing comparisons to Ticketmaster
  + stars: | 2022-12-02 | by ( Avery Hartmans | ) www.businessinsider.com   time to read: +3 min
Bath & Body Works' annual Candle Day sale kicked off on Friday — $26.50 candles are on sale for $9.95. The brand's annual candle sale, known as Candle Day, kicked off Friday and extends through Saturday, December 3. Also new this year: early access for Bath & Body Works rewards members that allowed loyal customers to begin shopping from 8 p.m. Eastern to midnight on December 1. Bath & Body Works has been hosting Candle Day for 11 years and "millions of Americans" have shopped during the event, the brand says. Bath & Body Works is one of a growing cohort of brands creating virtual "waiting rooms" ahead of big sales.
☆ As Wall Street strikes a bearish tone, these global stocks with margin growth could be safe bets
  + stars: | 2022-11-30 | by ( Zavier Ong | ) www.cnbc.com   time to read: +3 min
After what has been a tumultuous year for stocks, many investors are hoping that markets are at a turning point. Defensive stocks ArcelorMittal , the world's largest steelmaker, made CNBC's screen. The stock is rated buy by nearly 60% of analysts covering it, who give it potential upside of 26.3%. The company is expected to grow its margin by 17.9% next year and analysts give it potential upside of 23.4%. Analysts give the stock potential upside of 34.8%.
☆ Here's what Black Friday sales tell us about the retail sector — and our top pick
  + stars: | 2022-11-28 | by ( Paulina Likos | ) www.cnbc.com   time to read: +4 min
The holiday shopping season got off to a solid start over the weekend, as Black Friday's online sales beat expectations and started to build some much-needed momentum for the retail sector. According to Adobe's online sales tracker, consumers shelled out a record $9.12 billion shopping online on Black Friday. In another early look report, traffic on Black Friday at brick-and-mortar retail stores rose about 3% over 2021, according to retail tracker Sensormatic, which attributed the rise to increased promotional activity and "favorable in-store experiences." The analysts point out that this year's holiday shopping calendar is one day longer than in 2021. Bottom line With holiday shopping underway, we continue to like off-price retailers in these trying times.
☆ Black Friday was better than feared for retail stocks — Two potential big winners
  + stars: | 2022-11-28 | by ( Michelle Fox | ) www.cnbc.com   time to read: +5 min
Black Friday was better than expected for retailers this year, with discount names Walmart and Costco poised to be among the season's winners, according to Bank of America. The big-box retailer made significant price investments to offer deeper discounts and traffic appeared very strong in stores, Ohmes noted. "Specialty retailers appeared to be relative winners while we observed decent trends across the discounters and department stores," said analyst Krisztina Katai. Morgan Stanley also called out strong traffic results for Lululemon and American Eagle, as well as Abercrombie & Fitch and Victoria's Secret. "These strong traffic results were achieved despite 1) similar or lower y/y discounting levels, & /or 2) discounting activity below total sector averages.
☆ Analysts love these retail stocks as the holiday season ramps up
  + stars: | 2022-11-27 | by ( Tanaya Macheel | ) www.cnbc.com   time to read: +2 min
However, investors have gotten a mixed picture of the retail landscape from company earnings, U.S. retail sales figures , consumer sentiment data and the still-high inflation that continues to plague shoppers. Using data from FactSet, CNBC Pro screened for retail stocks that may offer some certainty for investors. Auto retailer Lithia Motors is also on the list, with potential upside to the average price target of 36.3%. He reiterated the firm's outperform rating and raised his price target on the shares. The stock price has risen this year, by 17%.
☆ Jeff Bezos's Blue Origin insists its passengers eat breakfast but avoid coffee and orange juice before they blast into space
  + stars: | 2022-11-26 | by ( Kate Duffy | ) www.businessinsider.com   time to read: +2 min
Blue Origin likes to ensure passengers tuck into breakfast before launching to the edge of space. The Hagles told Insider about their experience of flying with Blue Origin. In the days before a rocket launch, Blue Origin passengers stay in the Astronaut Village campsite in the Texas desert, around 15 miles away from the company's launch site near Van Horn. Blue Origin laid a full spread out for them, the couple said. During the interview, they also agreed with fellow Blue Origin astronaut William Shatner about space trips triggering feelings of grief and intense emotions.
☆ Retail expert Dana Telsey breaks down the holiday season's potential winners and losers
  + stars: | 2022-11-25 | by ( Alex Harring | ) www.cnbc.com   time to read: +3 min
"I think this holiday season's gonna be about in-person shopping," Telsey said on "Squawk Box" Friday morning. The winners Bath & Body Works is one company that typically does well but surprised during its third quarter while other retailers struggled, she said. For the fourth quarter, Bath & Body Works expects per-share earnings between $1.45 and $1.65 compared with a StreetAccount forecast of $1.54. Bath & Body Works stock has shed 42.1% in 2022, more than the S & P 500's 14.3% drop. "When you walk the shopping center during Black Friday, that's where you're gonna see some of the longest lines," Telsey said, referring to Bath & Body Works.
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☆ Retailers’ Holiday Discounts Are Steeper This Year, CFOs Say
  + stars: | 2022-11-23 | by ( Kristin Broughton | ) www.wsj.com   time to read: +5 min
Some chief financial officers in the retail sector say markdowns are necessary to start the new year without the drag of excess stock on their shelves. Other CFOs say their companies view the promotional environment as an opportunity to attract more customers. Below is a roundup of retail CFOs’ remarks on this topic during recent earnings calls. All the surveys that we’ve seen would indicate that the value is going to be an important driver for the customer. Historically, we’ve managed a collection of four basic inventory levers: cancellations, [return-to-vendors], push outs and vendor allowances, or VAs.
☆ Walmart, Best Buy, Trader Joe's and other retailers will be closed on Thanksgiving this year — see the list
  + stars: | 2022-11-23 | by ( Ann Matica | ) www.businessinsider.com   time to read: +9 min
Stores like Walmart and Best Buy will be closing their doors on Thanksgiving again this year. Here's a list of retailers that have decided to stay closed on Thanksgiving Day. AppleREUTERS/Alyssa PointerApple stores located in the US will be closed this Thanksgiving, according to a company spokesperson. NordstromJeff Greenberg/Contributor/Universal Images Group Editorial via GettyNordstrom will not be opening its doors for business this Thanksgiving, according to Forbes. PetcoEducation Images/Contributor/Universal Images Group Editorial via GettyA company spokesperson confirmed to Insider that Petco will remain closed on Thanksgiving Day.
☆ This week's best performers include several retail stocks and one exchange operator
  + stars: | 2022-11-18 | by ( Samantha Subin | ) www.cnbc.com   time to read: +2 min
It hasn't been the best week for the broader market. Several retail stocks bucked the overall market trend, however, on the back of strong quarterly reports. Other retail stocks were also on pace to cap off a positive week. To be sure, not all retailers triumphed during this busy earnings week for the sector. While several retail stocks took top spots in this week's screen, the list offered some variety.
☆ Wall St falls on mixed economic data, Fed official's hawkish view
  + stars: | 2022-11-17 | by ( Ankika Biswas Amruta Khandekar | Ankika Biswas | Amruta Khandekar | ) www.reuters.com   time to read: +3 min
Several other Fed officials in recent days have also stressed the need to continue raising rates, albeit at a slower pace. "The Fed is trying to make sure the market doesn't get too ahead of itself," said Tim Holland, chief investment officer at Orion Advisor Solutions. "They're trying to walk this rhetorical tightrope where in between meetings and big data points, they're reminding the market that they're still tightening." Traders are now pricing in 89% odds of a 50-basis-point rate hike from the Fed in December and see terminal rate at around 5% in June 2023. The S&P index recorded no new 52-week high and one new low, while the Nasdaq recorded 12 new highs and 101 new lows.
☆ Wall St set to open lower after mixed economic data, hawkish Fed comments
  + stars: | 2022-11-17 | by ( Ankika Biswas Amruta Khandekar | Ankika Biswas | Amruta Khandekar | ) www.reuters.com   time to read: +3 min
Softer-than-expected inflation data in recent days had boosted expectations of smaller interest rate increases, but strong retail sales figures on Wednesday stoked fears that the Fed could keep tightening the monetary policy further. Several other Fed officials in recent days have also stressed on the need to continue raising interest rates, though at a slower pace. Wall Street closed the previous session lower as a grim outlook from Target Corp (TGT.N) sparked concerns about retailers heading into the crucial holiday season. ET, Dow e-minis were down 384 points, or 1.14%, S&P 500 e-minis were down 52.5 points, or 1.32%, and Nasdaq 100 e-minis were down 177.5 points, or 1.51%. U.S.-listed shares of Alibaba Group Holding Ltd fell 2.1% after the Chinese e-commerce giant posted a smaller-than-expected rise in quarterly revenue.
☆ What Cramer is watching Thursday — rates may go much higher, promising tech, and mixed retail
  + stars: | 2022-11-17 | by ( Jim Cramer | ) www.cnbc.com   time to read: +5 min
Piper also likes Diamondback and Marathon , neutral on Club holding Coterra Energy (CTRA) and APA , formerly known at Apache. Multiple price target increases for Club holding TJX Companies (TJX). Canaccord starts Club holding Estee Lauder (EL) with a hold. Lowe's (LOW) price target raised to $253 per share from $248 at Piper, which liked the quarter. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.
☆ Three-Stock Lunch: NFLX, M and BBWI
  + stars: | 2022-11-17 | 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: NFLX, M and BBWIDelano Saporu, New Street Advisors founder and CEO, joins 'Power Lunch' to discuss today's three stocks, including Netflix, Macy's and Bath and Body Works.
☆ Stocks making the biggest moves midday: Bath & Body Works, Norwegian Cruise Line, Macy's and more
  + stars: | 2022-11-17 | by ( Alex Harring | ) www.cnbc.com   time to read: +2 min
Bath & Body Works – Bath & Body Works' stock surged 24% after reporting per-share earnings that were more than double what analysts had anticipated. The retailer also raised its guidance for full-year per-share earnings. Norwegian Cruise Line – Shares of the cruise stock shed 6% following a double downgrade to an underperform rating from Credit Suisse. Macy's – Shares of Macy's rallied 14% after the department store reported profit and revenue that beat Wall Street's expectations. BJ's Wholesale – Shares dropped 6% despite the company reporting beats on the top and bottom lines and raising its full-year forecast for per-share earnings.
☆ Stocks making the biggest moves premarket: Macy's, BJ's Wholesale, Kohl's and others
  + stars: | 2022-11-17 | by ( Peter Schacknow | ) www.cnbc.com   time to read: +2 min
Check out the companies making headlines before the bell:Macy's (M) – Macy's stock leaped 9.6% in the premarket after the retailer reported better-than-expected profit and revenue. BJ's Wholesale (BJ) – BJ's added 2.4% in premarket trading after beating analyst forecasts on both the top and bottom lines for its latest quarter. The warehouse retailer also reported better-than-expected comparable store sales and raised its full-year forecast. Alibaba (BABA) – The China-based e-commerce giant reported better-than-expected earnings but revenue fell short of analyst forecasts. Norwegian Cruise Line (NCLH) – The cruise line operator's stock slid 5% in premarket trading after a double-downgrade from Credit Suisse to underperform from outperform, with the firm citing a number of factors including valuation.
☆ 8 retails stocks to buy from top analysts as Target signals tough times for the sector
  + stars: | 2022-11-16 | by ( Carmen Reinicke | ) www.cnbc.com   time to read: +3 min
Target on Wednesday reported that its profit fell by 50% as it tried to clear out excess inventory in the third quarter. To find a list of top-ranked retail stocks, CNBC Pro searched Tipranks for names in the sector rated at least a "strong buy" and with a more than 20% upside to the consensus price target. Callaway Golf has the largest upside to its consensus price target, with analysts saying it could surge more than 79% from where it currently trades. Jefferies boosted its price target on the name after its third-quarter earnings beat expectations and it raised its guidance for the fourth quarter. The company is strongly backed by Wall Street and has a more than 43% upside to its consensus price target as it's been beaten up this year.
☆ Stock futures rise slightly as investors weigh cross currents of latest earnings
  + stars: | 2022-11-16 | by ( Alex Harring | ) www.cnbc.com   time to read: +2 min
Investors are also anticipating more than half a dozen speakers from the Federal Reserve talking at events around the country Thursday. Futures tied to the Dow Jones Industrial Average gained 50 points or 0.2%. S&P 500 futures added 0.2%, while Nasdaq-100 futures rose 0.3%. Retailer Bath & Body Works jumped more than 20% Wednesday after it beat revenue expectations and doubled what was anticipated for per-share earnings. Earnings season continues Thursday with additional retailers, including Macy's and Kohl's before the bell and Gap after.
☆ Stocks making the biggest moves after hours: Cisco, Bath & Body Works, Nvidia and more
  + stars: | 2022-11-16 | by ( Alex Harring | ) www.cnbc.com   time to read: +1 min
Cisco – Shares jumped 4.8% after the maker of computer networking equipment beat expectations for its first-quarter earnings per share and revenue, according to StreetAccount. Bath & Body Works – The company that remained after L Brands spun off Victoria's Secret jumped 16.3% after third-quarter results doubled StreetAccount's per-share earnings estimate, and it also beat on revenue. It issued fourth-quarter per-share earnings expectations that were about in-line with analysts polled by FactSet, while raising full-year guidance. Nvidia – The maker of high-end graphics processing units gained 2.7% after beating analysts' revenue expectations, but coming in under per-share earnings estimates. Sonos – The maker of multiroom audio systems added 2.3% after it beat expectations for per-share earnings and revenue in its fourth-quarter earnings.
☆ Stocks making the biggest moves midday: Walmart, Taiwan Semiconductor, Netflix, Carnival and more
  + stars: | 2022-11-15 | by ( Michelle Fox | ) www.cnbc.com   time to read: +5 min
Walmart — Shares of retailer Walmart jumped more than 7% after reporting quarterly earnings that beat Wall Street's expectations and raising its forward guidance. Retail stocks — Retail stocks rose following Walmart and Home Depot 's stronger-than-expected financial reports for the third quarter. Signature Bank — Shares of the crypto bank jumped more than 10% after Signature reported minimal exposure to FTX and any potential destruction that could come from its collapse. Sunnova Energy — Shares of solar company rose 7.5% after Deutsche Bank initiated coverage of Sunnova Energy, First Solar and Enphase Energy with buy ratings. First Solar was up 3.2%, and Enphase Energy rose 2%.
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