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☆ Next year is already looking rough for retail store closures
▼ + stars: | 2024-11-15 | by ( Dominick Reuter | ) www.businessinsider.com time to read: +2 min

If this year's closures are any indication — and if the economy worsens — they won't be alone. 2025 is still more than a month away, but it's already shaping up to be another rocky year for retail. Analysts at UBS project the total number of US retail closures could reach 45,000 over the next five years. For one thing, even healthy retailers like Walmart and Target periodically review and trim their store fleets in the normal course of business. In any event, the year hasn't even begun, but nearly 1,500 retail closures are slated — already roughly half the amount BI has tracked for full-year totals in recent years.

Persons: —, Topping, Shane O'Kelly, Donald Trump's Organizations: Parts, Walgreens, UBS, Coresight Research, Walmart, Target, Blockbuster

☆ A consumer turnaround story that could take a while. How to play it with options
▼ + stars: | 2024-11-11 | by ( Michael Khouw | ) www.cnbc.com time to read: +6 min

There's a struggling auto parts stock where a notable activist is involved that could be ripe for a turnaround... but it may take some time. Although Advance Auto was the smallest of the three at the end of 2021, these companies, ostensibly selling similar products, were within the same order of magnitude as of 2021. AAP 1Y mountain Advance Auto Parts, 1 year Between the company's poor operating performance and the stock's sharp declines, it is unsurprising that sell-side analysts aren't enthusiastic. Advance Auto Parts seems a good candidate, and scanning the holders of AAP, it seems some well-known activists, such as Third Point agree . While the activist's strategy may be sound, it might be challenging to implement due to market conditions or capital constraints.

Persons: There's, O'Reilly, Autozone, Russell, Shane O'Kelly Organizations: Parts, Autozone, O'Reilly Automotive, AAP, Advance, Auto, Advance Auto, Carlyle Group, Home, CNBC, NBC UNIVERSAL Locations: Jan

☆ Advance Auto Parts reaches deal with Dan Loeb's Third Point, Saddle Point for three board seats
▼ + stars: | 2024-03-11 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +1 min

An exterior view of the Advance Auto Parts store at the Sunbury Plaza, in Sunbury, Pennsylvania. Dan Loeb's Third Point and activist Saddle Point have a stake in Advance Auto Parts and reached a settlement with the company that will give the activists three board seats, the company confirmed Monday. Tom Seboldt, Gregory Smith and Brent Windom will join Advance Auto Parts' board effective immediately, the company said. Advance Auto Parts shares rose 3.7% after The Wall Street Journal reported the news of Third Point's position and settlement. Roy Katzovicz, Saddle Point CEO and former Pershing Square partner, said Advance Auto Parts had "enormous potential."

Persons: Dan Loeb's, Tom Seboldt, Gregory Smith, Brent Windom, Shane O'Kelly, " O'Kelly, Point's Loeb, Roy Katzovicz Organizations: Advance, Street Journal, Pershing Square Locations: Sunbury, Sunbury , Pennsylvania

A pedestrian carrying an umbrella walks along the River Thames in view of City of London skyline in London, Britain, July 31, 2023. Finance executives, consultants and headhunters interviewed by Reuters predict subdued deal flows, modest bonuses for most and heavy job cuts in 2024. "2023 will ultimately be one of the lowest corporate finance fee pools in modern history," said Fabrizio Campelli, head of Corporate Bank and Investment Bank at Deutsche Bank. JOB CUTSBanks have already turned to cost cuts to try to weather the downturn, which in a people-intensive business means job losses. And although some bankers expect a tough 2024, others sense an opportunity for European banks from the Basel Endgame.

Persons: Hollie Adams, Fabrizio Campelli, Banks, Ronan O'Kelly, Oliver Wyman, O'Kelly, Dominic Hook, Goldman Sachs, Vis Raghavan, JP Morgan, Morgan McKinley's, Stephane Rambosson, headhunter, Rambosson, Ana Botin, Morgan's Raghavan, there's, Oliver Wyman's O'Kelly, Deutsche's Campelli, Anousha Sakoui, Carolyn Cohn, Jesus Aguado, Alexander Smith Organizations: REUTERS, LONDON, Finance, Reuters, Corporate Bank, Investment Bank, Deutsche Bank, Organisation for Economic Cooperation, Development, Barclays, Lloyds, Challenger Metro Bank, UBS UBSG.S, Citi, Workers, Global Investment Banking, Employment, European Union, Santander, Global, Basel, Thomson Locations: City, London, Britain, Europe, Middle East, Africa, Ukraine, West, China, United States, India, Madrid

☆ Rudolph Isley, founding member of The Isley Brothers, dead at 84
▼ + stars: | 2023-10-12 | by ( Alli Rosenbloom | ) edition.cnn.com time to read: +1 min

CNN —Rudolph Isley, one of the founding members of the R&B group The Isley Brothers, has died, his family announced. But I know he’s in a better place,” Ronald Isley, Rudolph’s brother and Isley Brother band co-founder, told CNN in a statement on Thursday. A representative for The Isley Brothers told CNN that Rudolph died Wednesday. The Isley Brothers band was formed in the mid-1950s when Rudolph, Ronald, O’Kelly and Vernon Isley started a gospel quartet as teenagers. The Isley Brothers: (l to r) Rudolph, O'Kelly and Ronnie, performing together in an undated photo.

Persons: CNN — Rudolph Isley, Isley, ” Ronald Isley, Rudolph’s, Rudolph, Ronald, O’Kelly, Vernon Isley, Vernon, O'Kelly, Ronnie, ” “, ”, ” Rudolph Organizations: CNN, Isley Brothers, Deutsch, Hall of Fame, Billboard Locations: Cincinnati

Rudolph Isley, a founding member of the Isley Brothers who helped perform such raw rhythm and blues classics as “Shout" and “Twist and Shout” and the funky hits “That Lady” and “It's Your Thing,” has died at age 84. “There are no words to express my feelings and the love I have for my brother. But I know he’s in a better place," Ronald Isley said in a statement released Thursday by an Isley Brothers publicist. He was among the Isleys inducted into the Rock and Roll Hall of Fame in 1992. Political Cartoons View All 1209 Images___This story's headline has been corrected to show that Rudolph Isley, not Ronald Isley, died.

Persons: Rudolph Isley, Isley, ”, Ronald Isley, Ronald, O'Kelly, Vernon, “, Isleys, Rod Stewart, Ernest, Marvin, ” Rudolph Isley, O'Kelly Isley Organizations: Isley Brothers, Shea, Hall of Fame Locations: Cincinnati

☆ Stocks making the biggest moves midday: Nvidia, Peloton, Foot Locker, Dick's Sporting Goods and more
▼ + stars: | 2023-08-23 | by ( Alex Harring | ) www.cnbc.com time to read: +4 min

Nvidia has been one of the biggest winners on the back of the AI boom with shares rising nearly 220% this year. Peloton reported a loss of 68 cents per share, versus the 38-cent loss per share expected by analysts polled by Refinitiv. Foot Locker — The athletic retailer plunged 33% after cutting its outlook again for the year and suspending its quarterly dividend. Advanced Auto Parts — Advance Auto Parts rose 1% after beating analysts' revenue expectations for its second quarter. The auto retail company reported revenue of $2.69 billion, greater than the consensus estimate of $2.66 billion, according to Refinitiv.

Persons: Locker, Fitch, Abercrombie, Charles Schwab —, Schwab, Oppenheimer, Brown, Forman —, Morgan Stanley, Avery Dennison, Davidson, Safehold, Goldman Sachs, Goldman, it's, Shane O'Kelly, — CNBC's Hakyung Kim, Samantha Subin, Yun Li, Sarah Min, Jesse Pound Organizations: Nvidia, Refinitiv . Revenue, Dick's, Goods, Abercrombie, Pharmaceuticals, Nike —, Urban Outfitters, Refinitiv, Revenue, Netflix, Bank of America, UBS, DA, Marvell Technology, Susquehanna Locations: Louisiana, Pacific

☆ A New York lawyer who once filed 9/11 conspiracy theory lawsuit is charged with assaulting police at Capitol riot
▼ + stars: | 2022-10-22 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +2 min

A New York attorney was arrested this week on several January 6 charges. Prosecutors used facial recognition technology to identify John O'Kelly in photos from the siege. In 2019, O'Kelly filed a lawsuit on behalf of the group against the Justice Department in an effort to present the organization's conspiracy theory to a grand jury. Online sleuths had come to know the yet-identified O'Kelly as "MidWhiteCrisis," according to NBC, due to his inclusion on the FBI's Capitol Violence page. More than 900 people have been arrested in connection with the Capitol attack and more than 400 have pleaded guilty thus far.

☆ Facial recognition used in arrest of 9/11 conspiracy theory lawyer accused of trying to disarm officer on Jan. 6
▼ + stars: | 2022-10-21 | by ( Ryan J. Reilly | Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Jonathan_Dienst_Byline.Jpg | ) www.nbcnews.com time to read: +3 min

WASHINGTON — The FBI on Thursday arrested a New York lawyer who is accused of trying to disarm an officer protecting the U.S. Capitol during the Jan. 6 riot, law enforcement sources told NBC News. Authorities say O'Kelly tried to "disarm" a D.C. Metropolitan Police Department officer on Jan. 6 by grabbing an officer's baton and "attempting to wrestle it from the officer’s hands." U.S. Attorney’s Office for the District of ColumbiaO’Kelly, known to online sleuths investigating the Jan. 6 attack as “MidWhiteCrisis,” was No. A judge dismissed the lawsuit in March 2021, and an appeals court upheld the lower court ruling in August 2022. More than 870 people have been arrested by the FBI in connection with the Jan. 6 attack.

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