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☆ McDonald's and Crocs are releasing a line of $75 shoes inspired by Grimace and the Hamburglar
▼ + stars: | 2023-11-13 | by ( Nicolas Vega | ) www.cnbc.com time to read: 1 min

The home of the McNugget this week is rolling out a line of custom-designed clogs in collaboration with Crocs. The fast food-inspired lineup will feature three classic Crocs and one Crocs sandal based on McDonald's mascots Grimace, Hamburglar and Birdie, as well as the chain's classic red and yellow color scheme. The shoes will be released on November 14, retailing for between $70 and $75. Matching socks for each pair of shoes will retail for $20. Customers will be able to buy them at Crocs retail locations and wholesale partners.

Persons: McDonald's, Grimace, Hamburglar Organizations: Crocs, Mac

☆ Holiday spending isn't expected to rise this year. We still like our retail setup
▼ + stars: | 2023-11-10 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

The bad news: Consumers aren't expected to spend more this holiday season. With spending in line with last year, this holiday shopping season becomes a market share story — a zero-sum game. Foot Locker (FL) has issues outside of the holiday season such as an inventory glut, an overreliance on Nike (NKE) and the need to shut down unprofitable stores. We see no reason to change our 4 rating on both stocks ahead of the holiday season. Bottom line We are in a good position to benefit from how discretionary dollars will be spent this holiday season.

Persons: Morgan Stanley, Locker, Estee Lauder, Foot, Jim Cramer's, Jim Cramer, Jim, Christopher Dilts Organizations: Shoppers, Target, Walmart, Costco, Nike, TJX Companies, CNBC, Bloomberg, Getty Images Bloomberg, Getty Locations: Chicago , Illinois

The world's biggest shopping event happens in China each year - and it's called Singles Day. WHEN DID THE IDEA OF SINGLES DAY ORIGINATE? The idea for Singles Day had originated at China's Nanjing University back in 1993 and was originally called "Bachelor's Day." Cyber Monday immediately follows Black Friday, which falls on the day after the U.S. Thanksgiving Day holiday, the busiest shopping day of the year in the United States. "The presale period of Tmall and particularly on -- in general, the Singles Day, confirms a softer trend versus a year ago," said Estee Lauder CEO Fabrizio Freda last week, adding that the company was more optimistic about the next part of the Singles Day events in November.

Persons: it's, Bain, Jacob Cooke, Pinduoduo, Cooke, Estee Lauder, Nike, JD.com, Fabrizio Freda, Nicolas Hieronimus, Hieronimus, Granth, Aditya Soni, Diane Craft Organizations: China's Nanjing University, Adobe Analytics, U.S, Reuters, Technologies, Cyber, HK, PDD Holdings, Adobe, Bain, HOPE, Nike, Procter & Gamble, Apple, L'Oreal, Thomson Locations: China, United States, Beijing, Greater China, Bengaluru

Vivek Ramaswamy, a brash multimillionaire former biotech executive, took a swipe at Florida Governor Ron DeSantis over his cowboy boots, echoing speculation the shoes contain hidden lifts to boost his height. Five Republican candidates took part in Wednesday's debate. Trump allies have relentlessly hammered DeSantis over his cowboy boots, suggesting that DeSantis has hidden lifts inside them. DeSantis has said the boots are standard boots from Lucchese, a Texas-based western style shoe maker. Haley, who clashed with Ramaswamy several times during Wednesday's debate, corrected him, saying she actually wears five-inch heels.

Persons: Ron DeSantis, Jerry Falwell, Vivek Ramaswamy, Florida Governor Ron DeSantis, Dick Cheney, Ramaswamy, you've, Nikki Haley, Cheney, George W, Donald Trump, DeSantis, Haley, Alexandra Ulmer, Dan Whitcomb, Eric Beech, Ross Colvin, Howard Goller Organizations: Florida, Republican U.S, Liberty University, Christian, Republican, Florida Governor, United Nations, Trump, Lucchese, Thomson Locations: Miami, Texas

☆ Warren Buffett's company is so massive it's like a mini US economy - and its latest earnings may stoke recession fears
▼ + stars: | 2023-11-09 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +7 min

The famed investor's company reported lower revenues and profits in several divisions last quarter. Here's a roundup of Berkshire's weak spots last quarter:BNSF Railway - operating revenues fell by 12% and earnings by 15%. Manufacturing: consumer products - revenues fell by 2% in the third quarter and 13% in the nine months to September. AdvertisementAdvertisementBuffett foreshadowed the challenges, warning in May that most of Berkshire's businesses would report profit declines this year. While the US has escaped recession so far, Berkshire's earnings suggest there are some cracks in the economy.

Persons: Warren, Berkshire Hathaway, Here's, —, Clayton, Buffett Organizations: Service, BNSF Railway, Manufacturing, Clayton Homes, Federal Reserve Locations: Berkshire, Forest

REUTERS/Mohammad Ponir Hossain/File photo Acquire Licensing RightsNEW DELHI, Nov 9 (Reuters) - Global fashion retailers including H&M (HMb.ST) and Gap (GPS.N) are committed to raising purchase prices for Bangladesh-made clothing to help factories there offset higher workers' wages, a U.S.-based association representing more than 1,000 brands said. Asked if they would raise purchase prices by the 5-6% that costs will rise, Stephen Lamar, chief executive of the American Apparel & Footwear Association (AAFA), told Reuters: "Absolutely". "We also renew our pleas for the adoption of an annual minimum wage review mechanism so that Bangladeshi workers are not disadvantaged by changing macroeconomic conditions." Low wages have helped Bangladesh build its garment industry, which employs about 4 million people. Retailers in the United States and Europe are the main buyers of Bangladesh-made clothes.

Persons: Mohammad Ponir Hossain, Stephen Lamar, Lamar, Sheikh Hasina, Hasina, Krishna N, Ruma Paul, Miral Organizations: The Civil Engineering, REUTERS, Labour, American Apparel & Footwear Association, Reuters, International Labour Organization, Abercrombie & Fitch, Bangladesh, Retailers, Thomson Locations: Dhaka, Bangladesh, DELHI, U.S, China, Vietnam, Cambodia, United States, Europe

☆ Canadian Tire lays off 3% of full-time employees, misses profit estimates
▼ + stars: | 2023-11-09 | by ( ) www.reuters.com time to read: +1 min

The Canadian Tire logo is seen in Ottawa, Ontario, Canada, February 14, 2019. REUTERS/Chris Wattie/File Photo/File Photo Acquire Licensing RightsNov 9 (Reuters) - Canadian Tire (CTCa.TO) said on Thursday it had laid off 3% of its full-time employees, in an effort to lower costs amid slowing demand due to persisting inflation. Canadian Tire said it expects an annualized run-rate savings of about C$50 million ($36.31 million) as a result of the headcount reduction. Canadian Tire, whose shares were down 2% in afternoon trading, reported adjusted profit of C$2.96 per share, below LSEG estimates of C$3.29 per share. It, however, beat third-quarter revenue expectations, as well as announced an additional C$200.0 million share repurchase program.

Persons: Chris Wattie, Granth, Shilpi Majumdar Organizations: Canadian, REUTERS, Canadian Tire, Thomson Locations: Ottawa , Ontario, Canada, Toronto, Bengaluru

☆ Winners and Losers From the Third Republican Debate - The New York Times
▼ + stars: | 2023-11-09 | by ( New York Times Opinion | ) www.nytimes.com time to read: +13 min

Welcome to Opinion’s commentary for the third Republican presidential debate, held in Miami on Wednesday night. The debate didn’t answer the question of whether she can really cut into DeSantis’s more conservative bloc of support. He deserves praise for his substantive, competent answers, but there’s not much of a market for that in the Republican primaries. In a debate dominated by a neoconservative revival, Ramaswamy — in both style and substance — was the only Trumpist on the stage. primary voters relished his attacks on the Republican National Committee and the debate moderators.

Persons: Jamelle, Nikki Haley, Haley, Gail Collins, Michelle Cottle, yapping, Ross Douthat I’m, Ramaswamy, David French Neoconservatism, Sarah Isgur, Sarah Longwell, DeSantis, Daniel McCarthy, Dick Cheney, —, Haley couldn’t, Ron DeSantis, Donald Trump, There’s, Ross Douthat, he’s, David French, He’s, Vivek Ramaswamy, Sarah Isgur DeSantis, Sarah Longwell DeSantis, Kim Reynolds, Jamelle Bouie Chris Christie, It’s, David French Christie, Trump, Christie isn’t, Sarah Isgur It’s, Christie —, Christie, there’s, Bouie, Tim Scott, Scott, I’ve, we’re, David French I’m, Reagan, platitudes, hasn’t, Sarah Longwell Tim Scott, Daniel McCarthy He’s, Ross, David French Ramaswamy, Ramaswamy —, cheekily Organizations: Trump Republican, Trump, Republican, Gov, Federal Reserve, White, Republican Party, MAGA, Republican National Committee, Nazi Locations: Miami, Iowa, New Hampshire, Ukraine, Iran, Israel, China, hawkish, Iraq, Afghanistan, Russia, Haley, Florida

☆ Violent wage protests in Bangladesh could hit top fashion brands
▼ + stars: | 2023-11-09 | by ( Vanessa Yurkevich | ) edition.cnn.com time to read: +8 min

On Tuesday, the country’s wage board announced an increase of $113 a month for garment workers, set to take effect December 1. Garment workers in Bangladesh currently make $95 a month producing clothes for big brands such as H&M, Zara and Levi’s. The American Apparel and Footwear Association, or AAFP, which represents brands in the US suggests a timelier minimum wage review. CNN reached out to the Bangladesh Garment Manufacturers and Exporters Association which represents factory owners for comment but did not hear back. Cambodia now raises its minimum wage for garment workers once a year.

Persons: “, ”, Christina Hajagos, Clausen, Narza Akter, Imran Hossain, ” Matthew Miller, Bangladesh hasn’t, Fitch, Nate Herman, Levi Strauss, Elizabeth Cline, Jason Judd, Judd Organizations: New, New York CNN, Textile and Garment Industry, IndustriALL Global Union, Bangladesh Bureau, Statistics . Garment, Workers, US State Department, United, State Department, McKinsey, US Commerce Department, Puma, Abercrombie, American Apparel and Footwear Association, CNN, Brands, Government, Bangladesh Garment Manufacturers, Policy, Columbia University, Consumer, World Bank, Consumers, Global Labor Institute, Cornell University, Workers Rights Consortium Locations: New York, Bangladesh, Zara, Levi’s, China, United States, Southeast Asia, AAFP, Swedish, ”, Patagonia, Cambodia

☆ Adidas sees Samba shoes driving more interest from retailers
▼ + stars: | 2023-11-08 | by ( Helen Reid | Thomson Reuters | London-Based Reporter Covering The European Retail Sector Through A Global Lens. Focusing On Companies Including Adidas | ) www.reuters.com time to read: +3 min

Inventory levels were down 23% year-on-year at 4.85 billion euros ($5.18 billion), a little more than expected, Adidas said. Adidas' gross margin for the quarter was up 0.2 percentage points at 49.3%, helped by reduced freight costs and fewer discounts. "Adidas' competitive position compared to Nike is improving," said Robert Schramm-Fuchs, portfolio manager at Janus Henderson, which holds Adidas shares. "Adidas needs to earn back the shelf space, but I think they have the right product to do it," he said. Adidas' sales in Greater China grew by 5.7% in currency-adjusted terms, a slowdown after growth of 16.4% in the second quarter.

Persons: Tingshu Wang, Bjorn Gulden, Kanye West, Ye, Spezial, Gulden, Robert Schramm, Fuchs, Janus Henderson, Schramm, Adam Cochrane, Miranda Murray, Helen Reid, Maria Sheahan, Sherry Jacob, Phillips, Catherine Evans Organizations: Adidas, REUTERS, Apparel, Nike, Deutsche Bank . Currency, Reuters Graphics, Thomson Locations: Beijing, China, United States, North America, Greater China, Berlin

Maradona secured an EU trademark to his name for clothing, footwear, hospitality and IT services in 2008. The EU patent agency in a decision last year said Sattvica had not submitted documents confirming the transfer of the trademark to the company. Sattvica then took its case to the Luxembourg-based General Court, Europe's second highest. Sattvica can appeal to the EU Court of Justice, Europe's top court. The case is T-299/22 | Sattvica v EUIPO – Maradona and Others (DIEGO MARADONA).

Persons: Diego Maradona, Maradona, Sattvica, Maradona's, EUIPO, Europe's, Che Guevara, Evita Peron, EUIPO – Maradona, DIEGO MARADONA, Foo Yun Chee, David Evans Organizations: EU, Maradona, Justice, Thomson Locations: BRUSSELS, Argentine, EU, Luxembourg, Buenos Aires, Argentina

☆ Birkenstock gets Wall Street's top rating on capacity boost, expansion
▼ + stars: | 2023-11-06 | by ( ) www.reuters.com time to read: +2 min

Nov 6 (Reuters) - Wall Street brokerages largely initiated Birkenstock (BIRK.N) with their top ratings, pointing to a likely boost from the German luxury sandal maker's recent investments to increase capacity, expansion into newer styles and brand loyalty. Birkenstock's shares dropped to as low as $35.83 in the days after listing on Oct. 11 and has traded below the IPO price of $46 apiece. Citigroup was among the most bullish, with a price target of $52, a more than 26% jump from the last close. Telsey Advisory Group analysts said Birkenstock has further avenue to expand into footwear categories such as orthopedics and professional, outdoor and active, kids, home, and sneakers. Morgan Stanley assigned a price target of $41 and an "equal-weight" rating, saying most catalysts were already priced in.

Persons: Birkenstock's, Morgan, Goldman Sachs, Jefferies, Birkenstock, Bernard Arnault, Lorraine Hutchinson, Morgan Stanley, Hogan, Riley, Reshma Rockie George, Susan Mathew, Savyata Mishra, Amruta Khandekar, Maju Samuel, Sriraj Organizations: Arm Holdings, Citigroup, Telsey Advisory, U.S ., Global, Thomson Locations: U.S, French, Bengaluru

The lawsuits said that several New Balance athletic shoes and Skechers sneakers misuse Nike's patented "Flyknit" technology for running, soccer and basketball shoes. Nike has previously sued Adidas (ADSGn.DE), Puma (PUMG.DE) and Lululemon (LULU.O) for infringing Flyknit patents. Representatives for Nike, New Balance and Skechers did not immediately respond to requests for comment on the Monday lawsuits. Nike sued Manhattan Beach, California-based Skechers in Los Angeles, claiming that shoes, including Skechers' Ultra Flex and Glide Step brands, infringed on its patents. Nike asked the courts for an unspecified amount of money damages and court orders permanently blocking New Balance and Skechers from infringing the patents.

Persons: Carlo Allegri, Lululemon, Skechers, Blake Brittain, David Bario, Aurora Ellis Organizations: Nike, REUTERS, Footwear, New, Adidas, Puma, Boston, Manhattan, Thomson Locations: New York , New York, U.S, Beaverton , Oregon, Massachusetts, Manhattan Beach , California, Los Angeles, Washington

UBS lowered its rating on Albemarle to neutral from buy, slashing its price target by more than 40%. Analyst Matthew Hedberg initiated coverage of the data stock at an outperform rating with a $22 target price for shares. Hedberg's price target implies shares could climb 23.9% over the next year from Friday's close. In addition to the downgrade, analyst Jessica Reif Ehrlich slashed her price target on the stock to $9 from $32. Analyst Joshua Spector downgraded the stock to neutral from buy and slashed his price target to $140 from $253.

Persons: Ferrari, Matthew Hedberg, Hedberg, Alex Harring, Jason Bazinet, Bazinet, — Alex Harring, Jefferies, Brent Thill, Thill, Jessica Reif Ehrlich, Reif, Vivek Arya, Arya, Nicholas Campanella, Campanella, " Campanella, Banks, Goldman Sachs, Citi's Paul Lejuez, Baird, Mark Altschwager, Morgan Stanley, Edouard Aubin, Aubin, there's, Henning Cosman, Cosman, Joshua Spector, Spector Organizations: CNBC, UBS, Barclays, Bank of America, Nvidia, RBC, RBC Capital Markets, Citi, Disney, Jefferies, Paramount, Paramount Global, Dominion Energy, Dominion, Wall, JPMorgan, Ferrari, U.S, UBS downgrades Locations: Albemarle, Friday's, China, Birkenstock

☆ Activist Engaged Capital sees a path to lift VF Corp’s share price and slash costs
▼ + stars: | 2023-11-04 | by ( Kenneth Squire | ) www.cnbc.com time to read: +6 min

Activist Commentary: Engaged Capital was founded by Glenn W. Welling, a former principal and managing director at Relational Investors. Engaged has had great success as an activist, but almost all that success has come at small-cap companies. VF Corp. was in desperate need of a new CEO, and they got one. Engaged also urges VF Corp. to evaluate non-core divestitures to fix the balance sheet. After adding up all the pieces, Engaged sees a path to a $46 share price within three years.

Persons: Glenn W, Steve Rendle, Rendle, Bracken Darrell, Darrell, Rendle's, Ken Squire Organizations: Welling, Relational Investors, VF Corp, Bloomberg, Partners, Management, Vans, Logitech, Corp, 13D

☆ 17 Best Dress Shoes for Men, According to Style Experts
▼ + stars: | 2023-11-03 | by ( Leah Melclinton | ) www.wsj.com time to read: +8 min

The laces and classic body shape are characteristic of traditional men’s dress shoes, while the rugged rubber soles still make a statement with any formal outfit. “Good leather shoes are not an arena in which it pays to cut costs,” he says, recommending investing in “the pair of a decade” from this made-in-England favorite. (Crockett & Jones has regal and Hollywood credentials: the brand received a Royal Warrant of Appointment in 2017, and this is the style of dress shoes worn by Daniel Craig’s James Bond). Sleek sneakersThe key to dressed-up sneakers is finding a leather pair free of busy accents or logos. The style is “acceptable to wear with dress clothes,” confirms Los Angeles-based personal stylist Rayne Parvis, who advises people to wear these sneakers in place of brown lace-up dress shoes.

Persons: Leah Melby Clinton You’ve, Magnanni Marco, Jim O’Brien, O’Brien, Wes Sharpton, Cole Myers, ”, Jones, Daniel Craig’s James Bond, Nolan Beck, Rivera, suede Myers, Myers, cushioned, ’, ” Beck, Johnny Cash, Saint Laurent, “ They’re, Beck, Rayne Parvis Organizations: Huntington, Cleobella, Kansas, Monroe, Crockett, Chelsea Boots Locations: Huntington Beach, Calif, Catskill, N.Y, New York City, Paris, Kansas City, Mo, England, Polish, Richmond, Va, Montreal, French, Alsace, ”, Mexico, Nisolo, Los Angeles

☆ New York City Marathon: ‘Super shoes’ have ‘blown distance running into a new stratosphere.’ Are they benefitting the sport?
▼ + stars: | 2023-11-03 | by ( George Ramsay | ) edition.cnn.com time to read: +12 min

Michael Reaves/Getty ImagesThe two records in quick succession heightened the debate about how carbon-plated shoes – commonly referred to as “super shoes” – are rapidly changing the distance-running landscape. Today, they are worn by virtually all elite marathon runners, both for racing and for training, and by many casual runners, too. Tobias Schwartz/AFP/Getty ImagesThompson has other reservations about super shoes. “A lot of people say, well, people recover faster from training in the super shoes and therefore they can do more training, better training,” he added. “What I believe I’m seeing is that those who train all the time in super shoes will reduce their body’s ability to optimize biokinetic energy production.

Persons: Assefa, Bjørn Gulden, Kelvin Kiptum, Eliud Kipchoge, Michael Reaves, Peter Thompson, what’s, ” Thompson, … who’s, who’s, Thompson, hadn’t, I’ve, ”, Luciano Lima, “, ” Thomas Allen, Tobias Schwarz, Sifan Hassan, Chicago –, haven’t, ” Tim Hutchings, ” Hutchings, they’re, it’s, It’s, Jaroslav Svoboda, Hutchings, “ We’re, Eliud, Tobias Schwartz, “ I’m Organizations: CNN, Berlin Marathon, Adidas –, Chicago Marathon, Nike, Reebok, Adidas, Getty, Berlin, Runners, Manchester Metropolitan University, World Athletics, York City Marathon, Puma, Athletics Locations: Berlin, Chicago, Great Britain, Prague, York

☆ As he faces rumors of wearing lifted boots, DeSantis said 'this is no time for foot fetishes'
▼ + stars: | 2023-11-03 | by ( Madison Hall | ) www.businessinsider.com time to read: +2 min

DeSantis has faced rumors that he wears lifts in his cowboy boots to make him look taller. NEW LOOK Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Ron DeSantis wears boots that make him look taller, the Republican presidential candidate said in a recent media appearance that "this is no time for foot fetishes." "I know Donald Trump and a lot of his people have been focusing on things like footwear," DeSantis said. "I'll tell you this, if Donald Trump can summon the balls to show up to the debate, I'll wear a boot on my head.

Persons: DeSantis, —, Ron DeSantis, Eric Bolling, Donald Trump, Bolling Organizations: Service, Florida Gov, Republican, Lucchese, Trump Locations: Florida, Iowa

☆ 34-year-old makes $100,000 a year designing shoes—without a bachelor’s degree
▼ + stars: | 2023-11-02 | by ( Morgan Smith | ) www.cnbc.com time to read: +5 min

This story is part of CNBC Make It's Ditching the Degree series, where women who have built six-figure careers without a bachelor's degree reveal the secrets of their success. The Brooklyn native knew she wanted to work in fashion from the time she was old enough to speak. In 2007, just a few weeks after Fortune graduated high school, she enrolled in the Art Institute of New York City's associate's degree program as a fashion design major. Now, Fortune is a head footwear designer at Eastman Footwear Group, where she designs shoes for popular brands like Tretorn, Eddie Bauer and Nicole Miller. She started her first job at Eastman in April 2012, and within a year, transitioned to the footwear design team.

Persons: Krystal Fortune, Fortune, Eddie Bauer, Nicole Miller, Tommy Hilfiger, Krystal Fortune Fortune, it'd, Fortune didn't, Eastman, weren't Organizations: CNBC, Brooklyn, Saks, Art Institute of New, Eastman Footwear Group, Craigslist, New York, Art Institute, Eastman Footwear, Eastman Locations: Art Institute of New York, German, New, New York, Skechers

☆ Adidas and Puma eye chances in soccer's fashion moment
▼ + stars: | 2023-11-01 | by ( Helen Reid | Thomson Reuters | London-Based Reporter Covering The European Retail Sector Through A Global Lens. Focusing On Companies Including Adidas | ) www.reuters.com time to read: +5 min

One Premiership team has hired a creative director to expand its apparel offering, while Adidas in September launched an "exclusively off-pitch" apparel collection for some of the big-name teams it sponsors. "The love-in between football and fashion is only just beginning," said Richard Busby, CEO at sponsorship consultancy BDS Sponsorship. In August, Crystal Palace hired Kenny Annan-Jonathan as creative director focused on apparel. "We are experiencing hype around football jerseys and general designs influenced by football culture across streetwear and fashion," said Puma's global creative director Heiko Desens. "There's a risk of tension with existing fans whenever you start moving beyond the core culture," said Athens Kallithea's president and creative director, Ted Philipakos.

Persons: Asanka Brendon Ratnayake, Kim Kardashian, Richard Busby, Mary Earps, Busby, Kardashian, Germain, Mia Regan, Kenny Annan, Jonathan, GlobalData, Heiko Desens, Puma, popstar, cleats, Pele, Rihanna, Graham Renwick, Prada, Ted Philipakos, Philipakos, Helen Reid, Catherine Evans Organizations: Soccer Football, FIFA, England, Soccer, LONDON, Adidas, Puma, Nike, Greek, Athens Kallithea, Paris Saint, Arsenal, Crystal Palace, Premier League club, FOOTBALL, Bayern Munich, Juventus, Manchester United, Real, Liverpool, Newcastle United, Italy's Venezia FC, Athens Kallithea's, Premier League, Bundesliga, Thomson Locations: New Zealand, Spain, Australia, Sydney, Brazilian, Real Madrid, Italian, Athens

☆ True or not, DeSantis can't escape the raised boot rumors as his campaign falters
▼ + stars: | 2023-11-01 | by ( Madison Hall | ) www.businessinsider.com time to read: +4 min

Republican presidential candidate and Florida Gov. Menswear experts and others have alleged DeSantis wears lifts in his boots to make him look taller. Videos on TikTok of users giving their own thoughts on DeSantis' boots have garnered millions of views. If it was the beginning of the campaign or if DeSantis held a commanding lead, the attention to DeSantis' footwear would likely be another speed bump in a long campaign. October has come and gone, and with two months to go until the Republican presidential caucuses in Iowa, DeSantis is still miles behind Trump in national polling.

Persons: Ron DeSantis, It's, —, it's, DeSantis, There's, Derek Guy, bootmakers, Donald Trump, hadn't, Trump, FiveThirtyEight Organizations: Florida Gov, Service, Disney, Republican, Fox, Lucchese, Washington Post, PAC, Trump Locations: Florida, American, Iowa

U.S. officials visiting South Africa this week to meet African trade ministers will face calls to reauthorise the African Growth and Opportunity Act (AGOA) which expires in 2025. Apparel companies and industry insiders warn that Africa risks a once-in-a-generation shift away from Chinese manufacturing passing it by, with an estimated 240,000 to 290,000 jobs such as Nasimiyu's under threat. Apparel has been the standout success story of AGOA, which launched in 2000 to help develop African economies and foster democracy. African apparel exports under the programme reached nearly $1.4 billion last year, double the amount pre-AGOA. "We've been struck by how open the opportunity is now for us," South African Trade Minister Ebrahim Patel said last week.

Persons: Norah Nasimiyu, Thomas Mukoya, Pankaj Bedi, Norah Nasimiyu's, We've, Ebrahim Patel, Stephen Lamar, Michael Walsh, Constance Hamilton, Biden, Greg Poole, Bedi, Joe Bavier, Duncan Miriri, Alexander Smith Organizations: United Aryan, Processing, The U.S, REUTERS, U.S . Congress, AFRICA Industry, African Trade, United States Fashion Industry Association, American Apparel and Footwear Association, Congress, Research, U.S . International Trade Commission, GSP, UAL, Thomson Locations: Ruaraka district, Nairobi, Kenya, China, NAIROBI, U.S, South Africa, Africa, Philadelphia, Moscow, Beijing, Russia, Lesotho, Madagascar, Ethiopia, AGOA, gridlock, United States, Johannesburg

☆ Stocks making the biggest moves midday: Pinterest, Caterpillar, JetBlue, Chegg and more
▼ + stars: | 2023-10-31 | by ( Alex Harring | ) www.cnbc.com time to read: +5 min

Pinterest — Shares of the image-sharing social media platform soared 19% Tuesday, a day after the firm's third-quarter earnings report beat expectations for earnings and revenue. Pinterest also eased concerns over potential ad revenue loss due to the Israel-Hamas war, saying some of the advertisers that had initially paused spending have already returned. Caterpillar said in its earnings presentation that revenue in the fourth quarter would be just "slightly" above the same quarter a year prior. JetBlue lost 39 cents per share, excluding items, on $2.35 billion of revenue, while analysts polled by LSEG expected a loss of 25 cents per share on $2.38 billion of revenue. This was higher than the $1.58 in earnings per share on $1.48 billion in revenue that analysts had forecast, according to FactSet.

Persons: Pinterest, Busch, Jet Blue, LSEG, Wolfspeed, Chegg, Morgan Stanley, Baird, SoFi, Roku, MoffettNathanson, — CNBC's Pia Singh, Yun Li, Hakyung Kim, Lisa Kailai Han, Brian Evans, Jesse Pound Organizations: Anheuser, Busch, LSEG, Revenue, Caterpillar, JetBlue —, Jet, JetBlue, Spirit Airlines, Arista Networks, Arista, VF Corp, Vans, U.S, BP, ON, Asbury Automotive, JPMorgan Locations: Israel, LSEG, U.S

☆ Stocks making the biggest moves premarket: JetBlue, Pinterest, Chewy, Caterpillar and more
▼ + stars: | 2023-10-31 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +4 min

This was higher than the $1.58 in earnings per share on $1.48 billion in revenue that analysts surveyed by FactSet had been expecting. Chewy — The pet food seller added 4% in premarket trading after Morgan Stanley upgraded the stock to overweight from equal weight. Chegg's third-quarter earnings came in at 18 cents per share, excluding items, higher than the 17 cents per share expected by analysts polled by LSEG. BP — Shares of the oil company slid 4% after the company missed analysts' estimates for its third-quarter earnings . XPO — The freight transportation company added 1.7% after announcing stronger-than-expected third-quarter earnings.

Persons: FactSet, Pinterest, Chewy, Morgan Stanley, Lauren Schenk, Caterpillar, LSEG, Tesla, XPO, Jefferies, AutoNation, Rajat Gupta, Wells, Ferguson, MoffettNathanson, Alex Harring, Jesse Pound, Samantha Subin Organizations: Arista Networks, Arista, Revenue, Global, Anheuser, Busch, LSEG, Caterpillar — Investors, JetBlue, BP —, BP, JPMorgan, Bank of America Locations: U.S, Wells Fargo

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