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Five Below has had a rough year so far. Here's why
  + stars: | 2024-06-14 | by ( Ryan Baker | ) www.cnbc.com   time to read: +1 min
"It's been one of the success stories of U.S. retail over the past five or so years," said Neil Saunders, managing director of GlobalData Retail. Analysts attribute much of the company's success to its ability to stay on trend and offer value to the consumer. Despite an impressive few years of growth, things have taken a turn for the worse in 2024. "You're paying a premium to get the growth that they're providing you," said Joe Feldman, senior managing director of Telsey Advisory Group. "But that premium, when things don't go your way, like the shrink issue, it can hurt you.
Persons: It's, Neil Saunders, Joe Feldman Organizations: GlobalData Retail, Telsey Advisory
Elon Musk's pay package approval removes a burden on Tesla's stock, Wedbush Securities said. AdvertisementTesla shares are on track to race higher with the firm's pay package dispute finally out of the way, Wedbush Securities wrote. With CEO Elon Musk approved to receive his $46 billion compensation package, the stock is at last unshackled from the uncertainty surrounding the compensation sage. "Tesla is Musk and Musk is Tesla....shareholders spoke loudly today." Tesla's robotaxi day in early August is the next potential catalyst for the stock, Ives.
Persons: Elon, Tesla, Dan Ives, , Elon Musk, Musk, Ives, he's, Tesla's Organizations: Wedbush Securities, Service, didn't, Tesla Locations: Delaware
Friday, June 14, 2024: Cramer says he wants to declare victory in these semiconductor stocksJim and Jeff discuss the positive news around this industrial stock. They also talk about the price target raise of this retail stock. Finally, they weigh in on the tailwinds for this pharmaceutical stock.
Persons: Cramer, Jeff
How should traders invest in a higher-for-longer rate environment? Before the Bell: What do higher-for-longer rates mean for the stock market? What I find interesting and actually kind of invigorating is the resilience of the US economy in the face of these expected higher-for-longer rates. There will be some sectors that higher-for-longer rates will impact. And so we can see consumer durables slowing down or suffering a little bit in this higher-for-longer rate environment.
Persons: Price, Bell, Wylie Tollette, we’ve, We’ve, Jeanne Sahadi, isn’t, , , , ” Read, iPhones Organizations: CNN Business, Bell, New York CNN, Federal Reserve, Consumer, Franklin Templeton Investment Solutions, Big Tech, Energy, Gallup, Global, , Apple, Microsoft, Nvidia Locations: New York, “ State, United States
Market check: Stocks are trending lower Friday, a day after the S & P 500 and Nasdaq closed at a new record high. At nearly $800 billion following its earnings-driven surge this week, Broadcom is among the 10-most valuable companies in the S & P, too. Just like the Dow has lagged the S & P and tech-heavy Nasdaq, most of our Club-owned Dow names have been laggards. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .
Persons: Jim Cramer, Dow, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Broadcom, Nvidia, Apple, Microsoft, Palo Alto Networks, DuPont, Dow Jones, Dow, Honeywell, Procter & Gamble, Disney, New York Stock Exchange, Jim Cramer's Charitable Locations: Palo Alto
How Tesla Shareholders Upheld Elon Musk’s Sky-High PayTesla shareholders on Thursday voted to reaffirm a roughly $48 billion compensation package for Elon Musk, which was originally approved in 2018 and was nullified by a judge early this year. Mr. Musk’s pay package helped him become one of the richest people in the world. Thursday’s vote arose from a court case in Delaware, where the company is incorporated, that voided Mr. Musk’s pay package. California Public Employees’ Retirement System, or CalPERS, the largest pension fund in the United States, also opposed the pay package. The debate about Mr. Musk’s compensation raised questions about the limits of executive compensation and the accountability of Silicon Valley billionaires whose wealth gives them vast influence.
Persons: Elon Musk, Elon, Kimbal, Tesla, Musk, Eli Lilly, Nvidia Berkshire Hathaway Apple Tesla, Bernstein Organizations: Tesla, Elon, Sky, The New York, Mr, Norges Bank Investment Management, California Public, Broadcom, Chase Amazon, Nvidia Berkshire, The New York Times, Silicon, SpaceX, Fortune Locations: Delaware, United States, Texas, Austin
See here: Wells Fargo this week disclosed that it had fired more than a dozen employees for “simulation of keyboard activity,” Bloomberg reported, citing filings to the Financial Industry Regulatory Authority. In other words, they were faking work, perhaps with the kind of mouse jiggler that you can buy online for $20. At any rate, some bankers over at Wells Fargo seem to have gotten caught last month. “And that’s a symptom of a much larger problem.”In Wells Fargo’s case, managerial mistrust would be understandable, given the bank’s history. Since then, Wells has been trying to reform its own internal culture while trying to repair its brand.
Persons: CNN Business ’, Wells, , , , haven’t, ” Ashley Herd, Banks, ” Herd Organizations: CNN Business, New York CNN, ” Bloomberg, Financial Industry, Authority, Wells Fargo Locations: New York, Wells
Stock splits, long out of favor, are making a comeback. Notable stock splits in 2024(when distributed)Walmart 3-1 2/23/24Cooper Companies 4-1 2/16/24Texas Pacific Land 3-1 3/27/24Old Dominion Freight Line 2-1 3/27/24Nvidia 10-1 6/7/24Amphenol 2-1 6/11/24Chipotle Mexican Grill 50-1 6/25/24Broadcom 10-1 7/12/24Williams-Sonoma 2-1 7/8/24Cintas 4-1 9/11/24Sony Group 5-1 10/8/24Lam Research 10-1 10/3/24Why the comeback in stock splits? Stock splits are far less common now than 20 or 30 years ago. During the tech and internet bubble of the late 1990s, stock splits were common. By the mid-2000s, roughly 5% of the Russell 1000 members split their stock each year, and after the great financial crisis from 2008-2009, stock splits practically ceased.
Persons: Williams, David Kostin, Goldman Sachs, Russell, Chipotle Organizations: New York Stock Exchange, Stock, Walmart, Sonoma, Broadcom, Cooper, Pacific, Dominion Freight, Sony, Institutional, Nvidia, Risk, Financial Management, Lam Research, Booking Holdings, Costco, Micro, Spotify Locations: Williams, Sonoma
Tesla's cult-like following was on full display at its annual shareholder meeting on Thursday. Fans wore "Cybertruck" shirts, signed shareholder banners, and cheered throughout the event. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementIt's no secret that Elon Musk has a cult-like following — and that was on full display at Tesla's annual shareholder meeting on Thursday. Musk successfully mobilized his fanbase to help push through his $55 billion pay package, and some of Tesla's biggest supporters scored invites to the annual meeting.
Persons: , Elon Musk, Musk, Tesla Organizations: Service, Business Locations: Delaware, Texas
Shareholders in Tesla voted in favor of his two big asks, reaffirming a multibillion-dollar compensation package that a Delaware judge had nullified and approving the company’s reincorporation in Texas. “I think we’re not just opening a new chapter for Tesla, we’re starting a new book,” a jubilant Musk told shareholders at the company’s annual meeting. The vote doesn’t end Tesla and Musk’s legal fights in Delaware, including over the compensation plan. About 84 percent of votes cast, excluding the Musks’ shares, backed the reincorporation proposal. DealBook hears that Tesla succeeded in getting retail investors, who were overwhelmingly supportive of Musk, to vote in far greater numbers than they usually do.
Persons: Elon Musk, , Tesla, , Musk, ” Musk, aren’t, Kimbal Organizations: Tesla, Wall Street, Vanguard, BlackRock Locations: Delaware, Texas
Wall Street is wondering whether the tech rally that's pushed the S & P 500 through record after record this year can continue, even as some cracks emerge in the market outlook. .SPX YTD mountain S & P 500 near record highs A peek inside the major indexes also reveals a similar pattern. Information technology is the best-performing sector in the S & P 500 this week, gaining 6.2%. As it is, the S & P 500 is already above 5,400, having advanced more than 13% this year. Winners and losers market David Miller, investment chief at Catalyst Funds, also said the S & P 500 could end 2024 with a 17% or 18% gain.
Persons: Jeff Klingelhofer, it's, Klingelhofer, Brian Nick, Nick, Dave Sekera, Dave Donabedian, Donabedian, David Miller, Miller Organizations: Nasdaq, Nvidia, Dow Jones, Apple, Thornburg Investment Management, CNBC, Macro, Federal Reserve, Morningstar, CIBC Private Wealth, Catalyst Funds, Microsoft, Google, Visa, MasterCard, American Airlines, Delta Air Lines, Novo Nordisk, TransDigm, Index, Retail, Manufacturing, Housing, Philadelphia Fed, Kroger, Darden, PMI Locations: U.S, NAHB
"Last night, I bemoaned that there aren't enough stocks that are compelling away from tech," Cramer said. And this week's numbers suggest that higher for longer might be too inflexible a strategy for a suddenly gassed economy." Lennar reports on Monday and KB Home reports on Tuesday. Housing starts data will be released on Thursday, and Accenture , Kroger , Darden and Jabil will report earnings. Cramer said three firms slashed their price targets for Olive Garden parent Darden this week, which usually doesn't bode well for the quarter.
Persons: CNBC's Jim Cramer, homebuilders Lennar, Cramer, Antonio Neri, Jensen Huang, Jabil, Kroger hasn't, bode, CarMax Organizations: KB, Citigroup, Hewlett Packard Enterprise, Nvidia, Housing, Accenture, Kroger, Darden, Olive Garden, Apple
Traders work at the post where GameStop is traded on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., June 12, 2024. GameStop's annual shareholder meeting was disrupted by computer problems Thursday, as servers crashed under overwhelming interest in the stream, a customer service representative for the company hosting the stream told CNBC. According to a YouTube stream from an unaffiliated user purporting to reproduce the feed, the annual meeting was brought to order at 11:48 a.m. The rep said Computer Share's servers appeared to be unable to handle the amount of traffic the meeting had received and weren't accustomed to the volume of accounts. They added that Computer Share's tech team was working to solve the issue and advised interested parties to attempt to log in "every 5 to 10 minutes."
Persons: weren't, Keith Gill —, , Gill Organizations: GameStop, New York Stock Exchange, CNBC, Share Locations: New York City, U.S
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFormer Ford CEO: Retail investors are captivated by Musk's vision and don't want him to leaveMark Fields, former Ford Motor Company president and CEO, joins 'Money Movers' to discuss his thoughts on Elon Musk's pay package and more.
Persons: Mark Fields, Elon Organizations: Former Ford, Ford Motor Company
Cloud computing is gaining tractionCloud computing offers on-demand services, from storage to software, over the internet. And the fashion industry has gradually been waking up to the potential of cloud computing. In her report, "Fashion Transformation 4.0: Beyond Digitalization & Marketing in Fashion Industry," she said that the fashion industry must embrace new technologies in order to survive. "Fashion is a terribly old-fashioned industry," Alies ter Kuile, the cofounder of Fashion Cloud, said. With cloud computing, retailers can avoid overbuying stock — a key driver of fashion's textile-waste problem.
Persons: , It's, Porter, Eon, there's, Bharati Rathore, Rathore, ter, ter Kuile, they're, Ter Kuile, Alan Holcroft, Steven Gonzalez Monserrate Organizations: Service, Green, Google, University of South, Marketing, Fashion Industry, Brands, Cegid Locations: University of South Wales, Dutch, ter Kuile
After the multi-Grammy-winning superstar announced the European leg of The Eras Tour in mid-2023, they started saving, knowing that they had to "travel for Taylor." Corrie (left), KJ (center), and Callie (right) traveled from Gibraltar to Edinburgh to see The Eras Tour. AdvertisementThey estimated that the total cost for their weeklong trip, accommodation, and Eras Tour tickets was just over $2,500 each. Taylor Swift kicked off her 15-stop UK tour at Murrayfield Stadium in Edinburgh, Scotland on June 7, 2024. AdvertisementAs KJ had said at the start of the day, seeing The Eras Tour isn't "just about the show and the music.
Persons: , Callie, Corrie, Taylor Swift, Swift, Taylor, Eve Crosbie, I'm, marveling, concertgoer, Amira, she's, Leah, Simone, Gareth Cattermole, Expedia, Daniel Finch, haven't, It's, Wilde Aparthotel, Ava, Wilde, Marc Crothall, Mimi's, Mariola, We've, Pie, Erin, KJ Organizations: Service, Business, Murrayfield, Edinburgh, Barclays, QuestionPro, Edinburgh's, Management, Associated Press, Blockbuster, Expedia Brands, Scottish Tourism Alliance, NFL, Swift's Murrayfield, Sky Locations: Edinburgh, Gibraltar, Europe, Liverpool, Cardiff, London, Italy, Minneapolis, Scotland, Paris, England, North America, South America, Australia, Southeast Asia, Leith
The spotlight has seemingly shifted in the past year toward companies going to market, hoping to ride on the coattails of India's growth story. Growing foreign listingsThe allure of India's stock markets has trickled to companies beyond its shores — with foreign entities eyeing a share of its growth. Such listings add strength to India's markets, says M&G Investment's Asian Equities Portfolio Manager Vikas Pershad. The optimism on India's IPO boom is sometimes marred by concerns over elevated valuations of its stock market — and whether it is headed toward a bubble. "When we look at India, we see continued economic and earnings per share growth and higher levels of profitability," Dorson from Global X told CNBC's Inside India.
Persons: Swiggy, Debarchan Chatterjee, Neil Bahal, Dhruba Jyoti Sengupta, Ola, PhonePe, Ola Electric, Sengupta, Vikas Pershad, Malcolm Dorson, CNBC's Organizations: Getty, Reliance Industries, Adani Enterprises, Mankind Pharma, Negen, Securities, Exchange Board, Wrise Private, Aakash Educational Services, Aakash Educational, Walmart, United Arab, Hyundai, Insurance Corporation of India, Maruti Suzuki, Hindustan Unilever, Siemens, ABB India, Global Locations: Kolkata, India, SEBI, United Arab Emirates, Sri Lanka, Hyundai India, India's, Maruti Suzuki India, Hindustan
Economists polled by FactSet had anticipated a 0.1% rise in monthly wholesale inflation. Excluding food and energy prices, so-called “core” producer inflation rose 2.3% on an annual basis, the same level seen in April. PPI captures average price shifts before they reach consumers and serves as a potential bellwether for retail-level inflation in the months ahead. The new inflation data follows May’s Consumer Price Index released Wednesday, which showed that the pace of price increase consumers see across goods and services cooled to 3.3% from 3.4% in April. But others expressed concerns that the fall in producer prices may actually represent a negative consequence.
Persons: FactSet, Price, Jerome Powell, he’d, ” Clark Bellin, , Christopher Rupkey, ” Rupkey Organizations: New, New York CNN, Federal Reserve, of Labor Statistics, PPI, Fed, FwdBonds Locations: New York
It's always sunny at Business Insider when "Welcome to Wrexham" star Rob McElhenney is around. In today's big story, we're looking at the drama between Tesla shareholders over Elon Musk's bumper pay package that gets decided on today . As funny as that sounds, the battle over Elon Musk's pay package is no joke. One longtime Tesla investor said the EV maker is " kind of the bottom of the pecking pole of Elon's companies ." Vote here on if you're for or against Musk's pay package .
Persons: , Rob McElhenney, Elon, Apu Gomes, Chelsea Jia Feng, Insider's Grace Kay, they're, he's, Brooks Kraft, Musk, it's, Gwynne Shotwell, Somodevilla, Blackstone, Dan Ives, Araya Doheny, Patrick Fallon, Jenny Chang, Rodriguez, Henrik, Fisker, VCs, that's, whittle, Mark Zuckerberg, de Haro, Gen Zers, Mike Verdu, Slack, Brad Smith, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Elon, Getty, Retail, Brooks Kraft LLC, Nvidia, Tesla, Wall, SpaceX, Federal Reserve, Big Apple, Apple, Microsoft, BI, Adobe Locations: Wrexham, Delaware, Tesla, Manhattan, New York, London
Read previewArtificial intelligence is expected to be the topic du jour at Cannes Lions this week, when the ad industry descends on the French Riviera for its annual shindig in the sun. Businesses are exploring how they can use AI to perform tasks like copywriting, research, and automating their ad campaigns. A Cannes Lions spokesperson said the festival is expecting 12,000 delegates, though many more ad execs and vendors forgo the official festivities to hobnob at the fringe events. Cannes Lions has set its own rules around AI. "Those who will win will figure out the right mix of AI plus the right influencers plus the right concepts," MediaLink's Wagman said.
Persons: , there's, Klarna, Wayne Levings, Mark Wagman, Wagman, Jessica Apotheker, Apotheker, Scarlett Johansson, David Droga, Mira Murati, Vidhya Srinivasan, Alexander Chen, Greg James, Publicis, Anthony Yell, Razorfish, Yell, BCG's Apotheker, Queen Latifah, Lando Norris, John Legend, Chrissy Teigen, Deepak Chopra, Jason, Travis Kelce, Lenny Kravitz, Janelle Monáe, MediaLink's Wagman Organizations: Service, Cannes Lions, Lions, Business, Cannes, United Talent Agency, Google, Microsoft, Adobe, Boston Consulting Group, Palais, Accenture, OpenAI, Google Creative, North America, Publicis Groupe, influencers Locations: Americas, MediaLink, Cannes
Abercrombie & Fitch has transformed itself from a dying mall brand into a Wall Street darling after spending years revamping its product assortment, overhauling its supply chain and rebranding as an inclusive retailer. Shares of the apparel company have surged over the last year as it posted quarter after quarter of sales growth and profits that consistently topped Wall Street's expectations. Under the direction of CEO Fran Horowitz, Abercrombie has become one of the biggest winners in retail, but its turnaround was years in the making and far from an overnight success. Perhaps most importantly, Abercrombie rebranded itself into a more equitable retailer after it earned a reputation for racism, toxicity and exclusivity. To learn more about Abercrombie's comeback and what's ahead for the retailer after a year of meteoric growth, check out the video above.
Persons: Fitch, Fran Horowitz, Abercrombie, Horowitz Organizations: Abercrombie
Disney and Gov. Ron DeSantis of Florida have finally ended their feud, clearing the way for $17 billion in planned development at Walt Disney World near Orlando. On Wednesday night, the Central Florida Tourism Oversight District — an entity that Mr. DeSantis took over in 2022, ending 55 years of Disney control and sparking multiple lawsuits — gave the company a big part of what it wanted all along: a locked-in, long-term plan for expanding Disney World. At least for the next 15 years, the length of the new agreement, Disney can develop the resort without worrying about interference by Florida politicians. Put bluntly, state leaders can no longer use growth at the 25,000-acre resort as a political weapon, as Mr. DeSantis did two years ago after Disney said it would fight to repeal a state education law that opponents called anti-gay.
Persons: Ron DeSantis, DeSantis, , Disney, Jeff Vahle Organizations: Disney, Walt Disney, Central Locations: Florida, Orlando, Central Florida
Read previewTesla kicks off its annual shareholder meeting tomorrow — and Elon Musk's $55 billion pay package is hanging in the balance. Tesla also indicated in a regulatory filing that they were considering putting forth an alternate pay plan if the proposal fails to go through. AdvertisementOver the past few months, Tesla has gone all out in its efforts to promote Musk's pay package and encourage investors to vote. Meanwhile, Tesla fans and Tesla employees have taken to social media over the past month to promote the proposal. Musk's compensation is not the only issue that Tesla investors have been weighing.
Persons: , Elon Musk's, Tesla, Robyn Denholm, Musk, Anat Alon, Beck, Kimbal Musk, James Murdoch Organizations: Service, Business, Securities and Exchange Commission, Case Western Reserve University, P Global Market Intelligence, Reuters Locations: Delaware, Texas
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailU.S. and China consumer trends are 'not too different': Retail analystDeborah Weinswig of Coresight Research discusses the latest developments in global consumer trends.
Persons: Deborah Weinswig Organizations: U.S, Coresight Research Locations: China
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAmazon chief security officer on cyber outlook for second half of 2024, 'platformization' and chipsAmazon Chief Security Officer Steve Schmidt discuss the outlook for cyber security and protecting the tech giant's cloud, retail and digital ad businesses with Worldwide Exchange anchor Frank Holland. Schmidt also discusses the challenges of finding talent, the company's chip strategy and his view on "platformization".
Persons: Steve Schmidt, Frank Holland, Schmidt Organizations: Amazon, Worldwide Exchange
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