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☆ Stocks making the biggest moves premarket: Lululemon, Paychex, Micron Technology and more
▼ + stars: | 2023-03-29 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Lululemon – Lululemon shares surged more than 16% before the Wednesday open after posting a strong holiday quarter and sharing upbeat guidance for the current fiscal year. The athleisure wear company reported adjusted earnings of $4.40 a share on $2.77 billion in revenue and said same-store sales climbed by 27%. Carnival Corp — Shares of the cruise line climbed 2.5% in premarket trading after Susquehanna upgraded Carnival to positive from neutral. Micron fiscal second quarter results missed analyst expectations on both the top and bottom lines, according to Refinitiv consensus estimates. Paychex Inc. — Shares of the payroll services company were up nearly 3% premarket ahead of fiscal third-quarter earnings due after the close on Wednesday.

☆ Stocks making the biggest moves midday: Lululemon, Micron, Carnival, Foot Locker & more
▼ + stars: | 2023-03-29 | by ( Samantha Subin | ) www.cnbc.com time to read: +4 min

Micron Technology — The semiconductor manufacturer added 5.3% after management said it was planning a bigger headcount reduction than previously expected. Carnival — Shares gained 3.6% after being upgraded by Susquehanna to positive from neutral. The move comes a day after the stock gained 6.1% following an upgrade by Wells Fargo to equal weight from underweight. Urban Outfitters , Burlington Stores , Foot Locker , Ross Stores — Shares of major retailers declined Wednesday after UBS downgraded the group to sell from neutral. Petco — Shares of the pet health and wellness company gained 5% after CEO & Chairman Ron Coughlin disclosed a 61,000 share purchase.

☆ Jim Cramer's top 10 things to watch in the stock market Wednesday: Stock pop, retailers, AI caution
▼ + stars: | 2023-03-29 | by ( Jim Cramer | ) www.cnbc.com time to read: +3 min

UBS shuffles retailers: Ross Stores (ROST) to sell; Burlington (BURL) to sell; Club name Foot Locker (FL) to sell. Apple Pay Later allows four payments over six weeks. Users can apply for Apple Pay Later loans of between $50 and $1,000. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

☆ Foot Locker is closing 400 stores. They may become an eyesore
▼ + stars: | 2023-03-29 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +6 min

Foot Locker will close 400 stores by 2026 in malls. Anchor vacancies in malls hurt neighbors like Foot Locker and reduce traffic to their stores as well. Eventually, stores like Foot Locker go dark and it becomes harder for the mall to survive. Finding tenants for the 400 Foot Locker spaces will be challenging as big retailers look to stay away from weaker malls. Bed Bath & Beyond will be “much easier to fill than in-mall spaces.”So what happens to all the indoor malls with empty Foot Locker stores and other vacant spaces?

☆ Labcorp to pay $2.1 million to settle allegations it overbilled Defense Department for genetic tests for military members
▼ + stars: | 2023-03-27 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

Laboratory Corporation of America will pay the U.S. $2.1 million to settle allegations that it overbilled the Department of Defense for genetic tests that involved children and fetuses, the Justice Department announced Monday. Hecker-Gross' allegations surrounded genetic tests performed under a contract LabCorp entered with the Defense Department in 2012. Hecker-Gross alleged that LabCorp overcharged and double or triple-billed DOD for genetic tests performed by GeneDx. There were $210,959 in overcharges on 38 tests, including $113,525.50 for 21 tests billed between March 2016 and January 2017 alone, the lawsuit alleged. In 1996, LabCorp agreed to pay $187 million for fraudulently billing the government for unnecessary tests on elderly patients.

☆ The banking crisis is doing Fed's work and creating a window for stocks to rally
▼ + stars: | 2023-03-26 | by ( Jim Cramer | ) www.cnbc.com time to read: +19 min

Work from home has in part jacked up food prices, and the increase is about 14% above just last year. The only bank that looks like Silicon Valley Bank is First Republic Bank (FRC) because it, too, has suffered huge deposit withdrawals. Nike (NKE)said China orders were good, so did Club stock Starbucks (SBUX). As counterintuitive as it is, the banking row will give the 4.8% fed funds rate a chance to cool consumer spending. This gives stocks a window to advance until we begin earnings season with what will no doubt be a cautious banking sector.

Berkshire Hathaway vice president Gregory Abel bought nearly $25 million worth of Berkshire's class A stock last week, filings show. He previously bought $68 million worth of Berkshire stock in September. Berkshire's class A shares, and the "Baby Berkshire" class B shares, both have dropped about 3.4% this year, underperforming the S & P 500. Berkshire Hathaway vice chair Greg Abel bought $24.6 million worth of Berkshire's class A stock on March 17. Capri Holdings CEO John Idol bought nearly $10 million worth of stock on March 16.

☆ Bed Bath & Beyond is closing hundreds of stores. But they won’t be empty for long
▼ + stars: | 2023-03-21 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +5 min

New York CNN —Bed Bath & Beyond is stripping down its big blue signs, clearing out aisles of linens and closing 400 stores as it tries to stave off bankruptcy. Bed Bath & Beyond (BBBY)’s real estate is a precious, scarce resource for retailers, gyms and anyone else who needs ample space. “A lot of great real estate is going to come available into a market where there’s been no vacancies. “Bed Bath and Beyond sites are interesting to us, and we are exploring available opportunities with our franchisees,” a spokesperson told CNN. He also believes Bed Bath & Beyond may not be able to avoid bankruptcy or liquidation, which would lead to more vacancies.

☆ Bank of America: Buy these 22 stocks that will outperform as people look for ways to save in a recession that will push even high-income Americans to spend less
▼ + stars: | 2023-03-19 | by ( Marley Jay | ) www.businessinsider.com time to read: +2 min

The firm has picked the stocks it thinks will win — and lose — as customers cut their spending. Bank of America thinks a recession is coming, despite the fact that the US economy is still holding up fairly well right now. "We see risks to higher-end exposed US stocks this year, in part due to an amplified wealth effect," Hall wrote. Hall thinks those could include winter clothing maker Canada Goose, home goods retailer Bed Bath & Beyond, electronics retailer Best Buy, and consumer products companies like Clorox and Kimberly-Clark. But the following 22 companies all have "Buy" ratings from Bank of America, and Hall expects them to benefit from the oncoming economic slump as high-earners cut back on spending.

☆ A perfect storm of food-stamp cuts and low tax refunds is looming — and discount chains like Dollar General and Big Lots could feel the pain
▼ + stars: | 2023-03-17 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +5 min

Off-price retailers are worried that cuts to food stamps and smaller tax refunds will hurt sales. Tax refunds are also likely to be smaller because of the wind-down of some expanded tax credits. At the same time, certain beefed-up tax credits are no longer available, which means many taxpayers are preparing for smaller tax refunds this year. "At this point, 30% of that lower household income customer, their expenses today are greater than their income coming in. The 32 states that will wind down SNAP benefits this month join the 18 states that cut those benefits last year.

☆ A United flight was grounded after a passenger found a bomb threat note in the bathroom: reports
▼ + stars: | 2023-03-14 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +3 min

A United Airlines flight was grounded for several hours in Vermont on Sunday. A local NBC affiliate obtained audio of the plane's pilot discussing an apparent bomb threat. The Burlington airport was closed during the search and reopened around 7:30 p.m. local time. "A flight attendant just came up and said that a passenger found a note in the aft lav that said there was a bomb on board," the pilot can be heard saying. A spokesperson for United referred Insider to Republic Airways, which was operating the regional flight.

☆ Discount chains Ross, T.J. Maxx, and Burlington are planning to add more than 300 new stores. Here's why major retailers should be nervous about their growing off-price rivals.
▼ + stars: | 2023-03-08 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +5 min

Off-price chains are likely to get a boost in the months ahead as shoppers seek low prices. Ross Stores is planning to open 100 new locations this year, while T.J. Maxx plans 150 openings, and Burlington as many as 80. 2023 is looking like a strong year for off-price chains like Burlington Stores, Ross Stores and T.J. Maxx, as shoppers look to save money where they can. Off-price chains could benefit from retail closures and bankruptciesAs other retailers close swaths of stores nationwide, discounters are expanding. Paul Weaver/SOPA Images/LightRocket via Getty ImagesAnalysts see a banner year ahead for BurlingtonBurlington may be the smallest of the major off-price retailers, but it's poised to have a big year.

☆ Despite East Palestine toxic train disaster, railroads still want single-person crews
▼ + stars: | 2023-03-04 | by ( Chris Isidore | ) edition.cnn.com time to read: +10 min

The rail safety legislation, introduced in Congress Wednesday with bipartisan support, would include a prohibition on single-person crews. There is no such existing law or federal regulation requiring both an engineer and a conductor to be on a train. The Association of American Railroads confirmed that its position in favor of one-person crews has not changed. “No data shows a two-person crew confined to a cab is safer, and train crew size should continue to be determined through collective bargaining,” a statement from UP. But it might have one or two provisions which are deal breakers for the unions, such as allowing single-person crews.

☆ Kohl’s had a rough holiday
▼ + stars: | 2023-03-01 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +2 min

New York CNN —As consumers pulled back on their holiday spending amid biting inflation, it seems that Kohl’s dropped off many shoppers’ lists. Sales at Kohl’s stores open for at least one year dropped 6.6% during the holiday quarter, the company said Wednesday. Kohl’s comments echo those of other retailers, like Walmart (WMT) and Target (TGT), who have said consumers are strained, although those companies posted stronger holiday results than Kohl’s did. This change in shopping behavior hurts Kohl’s more than big-box rivals because the chain does not sell food, nor as many necessities. In November, Kohl’s chief executive Michelle Gass announced she was leaving the company to become the CEO-in-waiting at Levi’s (LEVI).

☆ Kohl's shares sink after big holiday-quarter losses
▼ + stars: | 2023-03-01 | by ( Melissa Repko | ) www.cnbc.com time to read: +4 min

Kohl's shares sunk on Wednesday after the retailer posted a big loss and a sales decline of about 7% in the holiday quarter. Kohl's is not the only retailer that has felt a pullback as consumers spend more on food, housing and other necessities. During that same three-year period, spending at Kohl's fell by 15.4% and profit at the company plummeted by 203%. Kohl's inventory remains elevated, up 4% year over year as of the end of the fourth quarter, the company said. As of Tuesday's close, Kohl's stock is up about 11% this year, outperforming the approximately 3% gain of the S&P 500.

☆ UBS says Berkshire Hathaway is still an attractive play after earnings miss, sees 20% gain ahead
▼ + stars: | 2023-02-27 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

BRK.A 1Y mountain Berkshire Hathaway Still, UBS is bullish on Omaha-based Berkshire for several reasons. Berkshire's insurance and other businesses held cash, cash equivalents and U.S. Treasury Bills of $125 billion at the end of 2022, which included some $95 billion in U.S. Treasury Bills. Some of the short-term Treasury bills are now yielding 5% and more. Finally, UBS said Berkshire shares remain attractively valued, trading at a level where Buffett has historically bought back shares. Berkshire used $2.855 billion to buy back shares in the fourth quarter, bringing the 2022 total to nearly $8 billion.

☆ These consumer stocks may have underpriced options ahead of earnings, Goldman says
▼ + stars: | 2023-02-26 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

Uncertainty in the consumer sector has created a potential options opportunity for investors in the final weeks of earnings season, according to Goldman Sachs. The average large-cap Consumer Staples stock has moved +/-3.7% on the day of earnings, inline with options implied moves and above the 17-year average of +/-3.2%," the note said. Additionally, Goldman analyzed the components of SPDR's consumer discretionary ETF (XLY) and consumer staples ETF (XLP) and found there are several stocks in both groups whose options are implying unusually low volatility, according to Goldman. "One-month implied volatility on the average XLY stock is only in its 44th percentile relative to the past year, despite upcoming earnings (35th percentile for the XLY ETF). The companies below are scheduled to report earnings before the next monthly options expiration date on March 17 and have options prices that are implying below average volatility.

☆ Stocks are reversing course as inflation looks sticky with more retail earnings on deck
▼ + stars: | 2023-02-24 | by ( Jesse Pound | ) www.cnbc.com time to read: +5 min

The optimism about inflation and the U.S. economy is quickly waning on Wall Street, and the early 2023 rally for stocks is fading. The market was under pressure again on Friday after a hotter-than-expected reading for personal consumption expenditures, sending rates higher and stocks lower. Economic updates Next week brings a new round of economic indicators to see how the sticky inflation is affecting consumers and business. Other looks at the economy will come through key earnings reports. Speech by Fed Governor Christopher Waller Friday: 9:45 a.m. Markit Services PMI 10:00 a.m. ISM Services PMI 3:00 p.m.

☆ Inflation takes a back seat to earnings next week as stocks look to bounce back
▼ + stars: | 2023-02-24 | by ( Matthew J. Belvedere | ) www.cnbc.com time to read: +7 min

The latest Fed projection for the so-called terminal rate — the level where the rate hikes stop — was just over 5%. Before this past week, those intraday levels hadn't been seen since November 2022. ET: ISM Services Looking back January's hot reading on core PCE on Friday was the most influential economic number of the past week. In Club earnings this past week, Nvidia (NVDA) was certainly the highlight. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Feb 21 (Reuters) - TJX Cos Inc (TJX.N) is likely to see a strong growth in annual sales as inflation pushes bargain-hungry but brand-conscious customers to off-price retailers offering cheaper deals and promotions. A case in point is Nordstrom Inc (JWN.N), which cut its annual profit forecast after its off-price store chain Rack failed to attract people despite heavy discounting due to inventory mismanagement. Jessica Ramirez, analyst at Jane Hali and Associates, said TJX is in tune with what the customer is shopping for and are interested. "TJX is very strong with their assortment ... they have been able to bring a lot of good names into their product offerings," she said. Reporting by Ananya Mariam Rajesh and Aatrayee Chatterjee in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

☆ Buttigieg urges U.S. railroads to boost safety, not oppose reforms
▼ + stars: | 2023-02-19 | by ( David Shepardson | ) www.reuters.com time to read: +4 min

[1/7] Drone footage shows the freight train derailment in East Palestine, Ohio, U.S., February 6, 2023 in this screengrab obtained from a handout video released by the NTSB. Buttigieg said he would soon outline specific safety improvements railroads should take immediately. He harshly criticized them for lobbying against steps "intended to improve rail safety and to help keep Americans safe." Buttigieg said he also planned to outline "prioritized actions planned" by the U.S. Department of Transportation on rail safety. In response to the derailment, U.S. Senate Commerce Committee Chair Maria Cantwell Friday opened an inquiry into railroad hazardous materials safety practices.

☆ Warren Buffett is missing out on this year’s market comeback
▼ + stars: | 2023-02-19 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +8 min

But the Oracle of Omaha has missed out on this year’s stock market rally. Buffett, in fact, has promoted that idea to investors many times, arguing that most individual stock pickers will not be able to beat the market. And to his credit, that usually pays dividends: Berkshire stock was up 3% last year in a down market. “High rates of inflation create a tax on capital that makes much corporate investment unwise,” Buffett said in his 1980 shareholder letter to Berkshire investors. Investors will get several more clues about consumer spending this week when several top retailers report earnings.

☆ U.S. senator asks railroad CEOs to answer questions on hazardous shipments
▼ + stars: | 2023-02-18 | by ( ) www.reuters.com time to read: 1 min

WASHINGTON, Feb 17 (Reuters) - U.S. Senate Commerce Committee chair Maria Cantwell said on Friday she was opening an inquiry into railroad hazardous materials safety practices after a Feb. 3 Ohio derailment of a train operated by Norfolk Southern (NSC.N) raised new concerns. Cantwell wrote the chief executives of Norfolk Southern, Burlington Northern Santa Fe (BNSF), Canadian National (CNR.TO), Canadian Pacific (CP.TO), CSX (CSX.O), Kansas City Southern, and Union Pacific (UNP.N) seeking information to help determine how to improve safety. "Every railroad must reexamine its hazardous materials safety practices to better protect its employees, the environment, and American families and reaffirm safety as a top priority," Cantwell wrote. Reporting by David Shepardson; Editing by Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

The derailment of the train, operated by Norfolk Southern (NSC.N), forced thousands of residents to evacuate while railroad crews drained and burned off chemicals. “We have mobilized a robust, multi-agency effort to support the people of East Palestine, Ohio," White House spokesperson Karine Jean-Pierre said at a briefing. [1/3] A view of a caution tape as members of the U.S. Environmental Protection Agency (EPA) (not pictured) inspect the site of a train derailment of hazardous material in East Palestine, Ohio, U.S., February 16, 2023. DeWine called on Congress to review railroad safety regulations, lamenting states have little power to demand information about what types of hazardous goods are rolling through their borders. Transportation Secretary Pete Buttigieg said Thursday more needs to be done to address rail safety in the face of hundreds of annual train derailments.

☆ Here are Tuesday's biggest analyst calls: Apple, Coinbase, Walmart, Roku, Nvidia, Amazon & more
▼ + stars: | 2023-02-14 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Here are Tuesday's biggest calls on Wall Street: KeyBanc reiterates Apple as overweight KeyBanc said Apple has "significant" growth potential. Evercore ISI downgrades XPO to in line from outperform Evercore said it sees an unfavorable risk/reward for the logistics company. Evercore ISI downgrades First Solar to in line from outperform Evercore said it sees a slowing solar market. Bank of America reiterates Burlington as buy Bank of America said the discount retailer is well positioned for a margin recovery. Bank of America reiterates Roku as underperform Bank of America said it's bearish heading into Roku earnings on Wednesday.

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