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☆ Stocks making the biggest moves midday: PagerDuty, Dell, Tesla, Broadcom and more
▼ + stars: | 2023-09-01 | by ( Pia Singh | ) www.cnbc.com time to read: +3 min

Fiscal second-quarter earnings per share came in at $2.68, versus the $2.54 expected from analysts polled by Refinitiv. PagerDuty — The stock declined 7.7% after PagerDuty issued third-quarter earnings guidance that missed analysts' expectations. The company expects earnings per share between 13 cents and 14 cents for the quarter, below a StreetAccount consensus of 15 cents per share. The company's earnings per share came out at $1.71, however, which was lower than analysts' expectations of $1.76, according to StreetAccount. The database software maker posted adjusted earnings of 93 cents per share on revenue totaling $423.8 million for the second quarter.

Persons: Lululemon, Papa John's, PagerDuty, Baird, Precious, Refinitiv, Morgan Stanley, Dell, Roz Brewer, Tesla, — MongoDB, Yun Li, Alex Harring, Michelle Fox Theobald Organizations: Broadcom, VMware, Refinitiv, Revenue, Dell Technologies, Walgreens, Alliance Locations: San Jose , California, China

The Labor Department's report showed the unemployment rate rose to 3.8% last month against expectations that it would remain unchanged at 3.5%, while wages advanced 0.2% on a monthly basis, moderating from a 0.4% rise in July. Nonfarm payrolls increased by 187,000 jobs in August, against expectations of 170,000 additions, according to a Reuters poll of economists. Data for July was revised to show 157,000 job additions instead of the 187,000 additions reported before. The payrolls report follows recent data showing a fall in job openings and softer-than-expected private employment growth, both of which signaled weakness in the labor market. Broadcom (AVGO.O) fell 4.5% as the chipmaker projected current-quarter revenue below expectations on softening enterprise demand.

Persons: Brendan McDermid, Nonfarm, Rick Meckler, salvos, Rosalind Brewer, decliners, Shristi Achar, Sruthi Shankar, Shounak Dasgupta Organizations: New York Stock Exchange, REUTERS, Broadcom, Dell, Dow, Nasdaq, Federal, Labor, Data, Traders, Cherry Lane Investments, Fed, Institute for Supply Management, Dow Jones, Disney, Charter Communications, ESPN, Charter's, Dell Technologies, Walgreens Boots Alliance, NYSE, Thomson Locations: New York City, U.S, Bengaluru

☆ Stocks making the biggest moves premarket: Dell, MongoDB, Lululemon and more
▼ + stars: | 2023-09-01 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

A Dell Technologies flag outside the company headquarters in Round Rock, Texas, US, on Monday, Feb. 6, 2023. Check out the companies making headlines before the bell:Dell Technologies — Dell Technologies surged 10.5% after exceeding analysts' second-quarter expectations. MongoDB — MongoDB advanced 5% after topping Wall Street expectations in its latest quarter. Lululemon Athletica — Shares added 2.3% in premarket trading after the athletic apparel retailer reported an earnings beat. VMware gave a mixed second-quarter report on Thursday, beating expectations for earnings per share while missing on revenue.

Persons: Refinitiv, Morgan Stanley, Dell, Lululemon, Roz Brewer, — CNBC's Michelle Fox, Alex Harring, Jesse Pound, Samantha Subin Organizations: Dell Technologies, Revenue, Walgreens, Alliance, Vale, JPMorgan, VMware, Broadcom, Broadcom — Locations: Round Rock , Texas

☆ Lululemon raises annual forecasts for second time on buoyant demand
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +1 min

Aug 31 (Reuters) - Lululemon Athletica (LULU.O) lifted its annual sales forecast for a second time on Thursday, betting on steady demand for its activewear from affluent shoppers in North America and China. Like industry peer Hibbett (HIBB.O), Lululemon has also been launching new products such as "road-to-trail" running shoes and introducing new colors in its sports apparel in a bid to attract more customers to shop at its stores. The company now expects full-year 2023 revenue between $9.51 billion and $9.57 billion, compared with its prior estimate of $9.44 billion to $9.51 billion. Lululemon now expects annual profit between $12.02 and $12.17 per share, compared with its prior estimate of $11.74 to $11.94 per share. Reporting by Granth Vanaik in Bengaluru; Editing by Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: Hibbett, Lululemon, Granth, Maju Samuel Organizations: Nike, Dick's Sporting, Thomson Locations: North America, China, Bengaluru

In the second quarter ended July 30, Lululemon's North America sales rose 11% as its affluent customer base picked up more of its workout gear and crossbody bags. Sales in China, which accounted for roughly 12% of overall revenue, increased 61% thanks to resilient demand following the easing of pandemic curbs. Lululemon said inventories increased 14% in the second quarter, below the roughly 20% growth forecast in June. The company's gross margins increased 230 basis points to 58.8% in the second quarter. It expects annual profit between $12.02 and $12.17 per share.

Persons: Andrew Kelly, Lululemon, Calvin McDonald, Rachel Wolff, Granth, Maju Samuel Organizations: REUTERS, North, Lululemon's, Nike, Thomson Locations: Manhattan , New York, U.S, Lululemon's North America, United States, China, Bengaluru

☆ Morning Bid: Markets brace for EU, US inflation data blitz
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +3 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 30, 2023. REUTERS/Staff/File Photo Acquire Licensing RightsA look at the day ahead in European and global markets from Brigid RileyA slew of economic data is set to roll out on Thursday, including preliminary euro zone CPI numbers and U.S. personal consumption data, with markets hankering for further inflation relief as central bank policy meetings march closer into view. The pan-European STOXX 600 index (.STOXX) closed lower and the euro jumped in the aftermath of the data, with markets now bracing for the last day of a gloomy August. Expectations are still hovering around a 50-50 chance of another ECB hike, with the focus on preliminary euro zone CPI data due later in the day. Meanwhile, Chinese stocks were looking glum again in the Asian morning after an official factory survey showed manufacturing activity slowed for a fifth month straight.

Persons: Brigid Riley, Collins, Lululemon, Pernod Richard, Edmund Klamann Organizations: REUTERS, Staff, European Central Bank, Reuters Graphics, Federal Reserve, UBS, Credit Suisse, Credit Suisse AG, PCE, Dollar, Corp, Broadcom Inc, Thomson Locations: Frankfurt, Germany, Spain, France, U.S, Italy, Switzerland, Central

☆ Stock futures are little changed ahead of August payrolls report: Live updates
▼ + stars: | 2023-08-31 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Traders work on the floor of the New York Stock Exchange during morning trading on August 31, 2023 in New York City. Stock futures were near the flat line Thursday night as investors came off a mixed trading session and closed out a month that saw losses for all three stock indexes. Futures tied to the Dow Jones Industrial Average added 22 points, or 0.06%. S&P 500 futures hovered just above flat, while Nasdaq 100 futures inched down by 0.04%. Despite a recent string of positive sessions that helped stock indexes trim their monthly losses, the S&P 500 lost 1.77%, while the Nasdaq shed 2.17%.

Persons: Athletica, Dow, Dow Jones, Alex McGrath, it's, McGrath Organizations: New York Stock Exchange, Stock, Dow Jones, Nasdaq, Dell Technologies, Traders, Federal Reserve, Investors, Dow Locations: New York City

☆ Stocks making the biggest moves after hours: Dell, Lululemon and MongoDB
▼ + stars: | 2023-08-31 | by ( Pia Singh | ) www.cnbc.com time to read: +1 min

MongoDB reported earnings of 93 cents per share, excluding items, on revenue totaling $423.8 million in the second quarter. That came in ahead of the earnings per share of 46 cents and $393 million in revenue expected by analysts polled by Refinitiv. The semiconductor company called for fourth-quarter revenue of $9.27 billion, while analysts polled by Refinitiv anticipated $9.275 billion. Meanwhile, analysts polled by Refinitiv expected $1.71 in earnings per share and $3.46 billion in revenue. Lululemon also said it now expects sales of $9.51 billion to $9.57 billion for the fiscal year.

Persons: MongoDB, Dell, Refinitiv, Lululemon Organizations: Refinitiv, Dell Technologies, Broadcom —, VMware

☆ S&P 500 futures are flat after Wall Street notches four-day winning streak: Live updates
▼ + stars: | 2023-08-30 | by ( Sarah Min | ) www.cnbc.com time to read: +2 min

S&P 500 futures were flat Wednesday night after the broad market index notched a fourth-straight positive day. Futures for the S&P 500 and Nasdaq 100 futures oscillated near the flat line. Investors are coming off a positive session for the major averages Wednesday, with the S&P 500 ending the day 0.38% higher. The Dow and S&P 500 are each lower by more than 1% in August, while the Nasdaq is off by over 2%. Economists polled by Dow Jones are expecting a year-over-year rise of 4.2% last month, up slightly from a 4.1% increase the previous month.

Persons: Stephanie Link, Dow Jones Organizations: New York Stock Exchange, Traders, Nasdaq, Dow Jones Industrial, Dow, Dow Jones, Reserve, Broadcom, Fed

☆ Dick's Sporting shares slide as costs, inventory shrink slam annual profit outlook
▼ + stars: | 2023-08-22 | by ( ) www.reuters.com time to read: +2 min

Aug 22 (Reuters) - Dick's Sporting Goods shares (DKS.N) slumped as much as 24.5% on Tuesday as the footwear retailer slashed its full-year profit target after missing expectations for the second quarter. A shopper browses merchandise at a Dick's Sporting Goods store in Collegeville, Pennsylvania U.S. November 20, 2020. REUTERS/Mark Makela Acquire Licensing RightsRetailers including Dick's Sporting Goods have been trying to find ways to cut costs as margins take a hit from soaring supply chain and labor expenses. On an adjusted basis, the company expects to earn $11.50 per share to $12.30 per share for the full year. Dick's shares were trading at $111.14 and dragged shares of rival retailers.

Persons: Mark Makela, Lululemon, Armour, Foot, Juveria, Eileen Soreng Organizations: Sporting Goods, Dick's Sporting, Collegeville , Pennsylvania U.S, REUTERS, Dick's Sporting Goods, Nike, Thomson Locations: United States, Collegeville , Pennsylvania

☆ Plant-Based Plastics Gain Favor as Companies Pursue Sustainability Goals
▼ + stars: | 2023-08-17 | by ( Dieter Holger | ) www.wsj.com time to read: +6 min

Plant-based plastic, that is. However, the environmental benefits of plant-based plastics are increasingly appealing to companies promising to use more sustainable materials by the end of the decade. Plants absorb the atmosphere’s carbon dioxide, which cuts the greenhouse-gas emissions from making bioplastics to at least half that of fossil-fuel-based plastics. A Lululemon shirt containing plant-based nylon. Only plant-based plastics that are chemically identical to fossil-fuel–based versions can enter the existing and growing recycling infrastructure.

Persons: Bioplastics haven’t, Michael Carus, “, ” Carus, Eastman, Chris Killian, bioplastics, Warby Parker, ”, Biden, Manav, olefins, Dow, bioethylene, LVMH Moët Hennessy Louis, Haley Lowry, Dieter Holger Organizations: Sustainable Business, Kodak, U.S . Defense Department, European, dieter.holger Locations: China, Japan, biomanufacturing, U.S, Iowa

☆ A 20-year fund manager shares 8 mega-trend stocks he's betting will take market share — and the 5 he's shorting
▼ + stars: | 2023-06-23 | by ( Laila Maidan | ) www.businessinsider.com time to read: +8 min

Gary Black says the stock market will continue to trend higher with volatility this year. What the remainder of 2023 has in store for the stock market is anyone's guess at this point. But Gary Black, a 20-year fund manager, and the portfolio manager and managing partner at The Future Fund, has a more positive outlook. The next mega trend is big data and cyber security. mega trend losersOn the side of stocks being shorted, these are the companies that Black expects will lose market share due to these mega trends.

Persons: Gary Black, Phillip Wool, it's, Black, He's, cybertruck, Tesla, Elon Musk, Eli Lilly, Lilly, LULU, Armour Organizations: Federal, Federal Reserve, EV, Tesla, Company, Palo Alto Networks, Nvidia, Toyota, CNBC, Bloomberg, UA, MAX Holdings Locations: China's, overproducing

☆ Lululemon shares surge as consumers snap up pricier athletic wear
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +2 min

Lululemon's first-quarter results also moved past estimates as the company saw traffic across both its stores and online up about 30%. The company also reported a 79% rise in sales in China, bolstered by the rollback of COVID restrictions. The company's strong results also lifted shares of other athletic wear makers including Nike Inc (NKE.N) and Athleta owner Gap Inc (GPS.N) by 3% and 1%, respectively, in premarket trading. "We continue to believe that Lululemon is best positioned in a consumer slowing cycle," said Adrienne Yih, analyst at Barclays. Reporting by Savyata Mishra and Aishwarya Venugopal in Bengaluru; Editing by Krishna Chandra EluriOur Standards: The Thomson Reuters Trust Principles.

Persons: Piper Sandler, Abbie Zvejnieks, Lululemon's, Cowen, Adrienne Yih, Savyata Mishra, Aishwarya Venugopal, Krishna Chandra Organizations: Barclays, Nike Inc, Gap Inc, Adidas, Puma, Thomson Locations: China, U.S, Bengaluru

The Senate passed a bill late on Thursday to lift the government's $31.4 trillion debt ceiling, avoiding a catastrophic, first-ever default. The Labor Department's closely watched employment report, due 0830 ET, is expected to still show a tight labor market. Fed funds futures trading showed an over 70% probability that the Fed will hold interest rates steady at its June 13-14 policy meeting. ET, Dow e-minis were up 185 points, or 0.56%, S&P 500 e-minis were up 21.25 points, or 0.5%, and Nasdaq 100 e-minis were up 63 points, or 0.44%. Reporting by Shreyashi Sanyal in Bengaluru; Editing by Nivedita Bhattacharjee and Maju SamuelOur Standards: The Thomson Reuters Trust Principles.

Persons: FEDWATCH, Russ Mould, AJ Bell, Germany's, Shreyashi Sanyal, Nivedita Bhattacharjee, Maju Samuel Organizations: Nike, Broadcom, Dow, Nasdaq, Federal, Fed, Labor, FEDWATCH Reuters, Dow e, Microsoft Corp, Apple Inc, Tesla Inc, Athletica, Dow Jones, Nike Inc, Germany's Adidas, Puma, Broadcom Inc, Nvidia Corp, Nvidia, Thomson Locations: Washington, United States, Europe, Bengaluru

☆ Economic policies sacrifice poor Americans
▼ + stars: | 2023-06-02 | by ( Lauren Silva Laughlin | ) www.reuters.com time to read: +3 min

NEW YORK, June 2 (Reuters Breakingviews) - Dollar General (DG.N), the ultra-low-cost retailer with 19,000 stores reaching 75% of the U.S. population, has never been a comfortable reflection of the American consumer. That underscores troubling consequences of current U.S. economic policy: the poor are being sacrificed. Over the past two decades, dollar stores have upended how the cross section of the United States shops. In smaller towns, Dollar General and competitors including Dollar Tree (DLTR.O) offer cheap and accessible groceries. Reuters GraphicsIn the past week, U.S. Congress has continued to roll back policies that would help Americans with less to go around.

Persons: Jeffery Owen, Lululemon, Nordstrom, Ralph Lauren’s, Joe Biden’s, Lululemon Athletica’s, Erik Nordstrom, Jennifer Saba, Sharon Lam Organizations: YORK, Reuters, Dollar, Walmart, Shoppers, Reuters Graphics, Congress, Thomson Locations: United States

☆ Morning Bid: Jubilant markets eye jobs in June jump
▼ + stars: | 2023-06-02 | by ( ) www.reuters.com time to read: +4 min

REUTERS/Elizabeth FrantzA look at the day ahead in U.S. and global markets from Mike DolanWith the U.S. debt ceiling removed, world markets see the sky again - encouraged that robust U.S. labor markets continue to defy recession fears as interest rates near peaks. And judged by all the other labor market soundings this week, there are few signs yet of any significant disturbance to the still-robust employment picture. Wall St's "fear index" - the VIX (.VIX) gauge of implied equity volatility - hit its lowest level since November 2021 early on Friday. To the extent the dollar was bid by debt-ceiling stress and thoughts of another June Fed hike, then it's fallen back again too. Elsewhere, oil markets are closely watching the weekend OPEC ministers meeting - although further production cuts are not expected.

Persons: Elizabeth Frantz, Mike Dolan, Hong Kong's, Hang, Lululemon, Sharon Singleton Organizations: REUTERS, Senate, Federal Reserve, Nasdaq, Fed, The United, Broadcom, Thomson, Reuters Locations: Arlington , Virginia, U.S, China, Hong Kong, The United Nations, South Africa

☆ Lululemon lifts annual sales, profit forecasts on steady demand
▼ + stars: | 2023-06-01 | by ( ) www.reuters.com time to read: +1 min

June 1 (Reuters) - Lululemon Athletica Inc (LULU.O) raised its annual sales and profit forecasts on Thursday, betting on strong demand for its activewear from affluent U.S. shoppers and a recovery in China, sending its shares up 11% in extended trading. Lululemon is also banking on new launches and more full-price selling to drive revenues and offset any impact from promotions taken to clear inventories. Vancouver, Canada-based Lululemon now expects full-year 2023 revenue between $9.44 billion and $9.51 billion, compared with its prior estimate of $9.30 billion to $9.41 billion. The company projected full-year 2023 profit between $11.74 and $11.94, compared with its prior estimate of $11.50 to $11.72 per share. Reporting by Deborah Sophia in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Lululemon, Deborah Sophia, Devika Organizations: Nordstrom Inc, Thomson Locations: China, Vancouver, Canada, Bengaluru

Looking ahead, investors this week will be laser-focused on Washington, as Congress prepares to vote on a bill to raise the U.S. debt ceiling . But the shortened trading week ahead still features some key earnings and economic data. ET: S & P/Case Shiller home price index (March) 10 a.m. ET: Employment report: Non-farm payrolls and jobless rate (May) Looking back Last week, three Club holdings reported earnings. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

☆ Andreas Halvorsen's Viking Global put new money in Lululemon and Sherwin-Williams in Q1
▼ + stars: | 2023-05-16 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Andreas Halvorsen's Viking Global Investors took new positions in Lululemon Athletica and Sherwin-Williams in the first quarter, according to the hedge fund's latest 13F filing to the Securities and Exchange Commission. Fellow hedge fund manager Dan Sundheim of DQ Capital Partners dumped his entire holding in Sherwin-Williams in the first quarter. A 46% increase to Halvorsen's McKesson stake put the stock in the number two slot among his biggest holdings, at $1.14 billion. Of Halvorsen's top 10 holdings, all were increased stakes in the quarter besides Amazon, which was cut almost 40%. Correction: A previous version misstated Viking Global's actions in the first quarter as a result of an incorrect quarterly comparison.

☆ Dan Sundheim's D1 buys this large regional bank stock, trims tech holdings in first quarter
▼ + stars: | 2023-05-15 | by ( Samantha Subin | ) www.cnbc.com time to read: +1 min

Dan Sundheim's D1 Capital Partners bet on PNC Financial Services as turmoil unraveled across banks in the first quarter. The hedge fund, founded in 2018, opened a $43-million stake in the Pittsburgh-based regional bank in the first quarter, which saw the collapse of Silicon Valley Bank and Signature Bank in March, according to securities filings. D1 also made new bets on the healthcare sector, opening new positions in UnitedHealth and Danaher , and a stake worth at least $314 million in Elevance Health . While technology stocks rebounded during the first quarter, and investors gravitated back toward beaten-up growth stocks as bonds yields offered some relief, D1 reduced its exposure to some popular names. D1 managed roughly $27.6 billion in assets at the end of March, according to securities filings.

☆ Under Armour expects dull annual sales, profit as demand slows
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +1 min

May 9 (Reuters) - Under Armour Inc (UAA.N) forecast annual sales and profit below Wall Street expectations on Tuesday in a sign that persistent inflation was hampering demand and higher discounts were eating into profit margins, sending its shares down 5% before the bell. Footwear sales jumped 27%, while apparel rose just 1% and accessories fell 1%. The company expects fiscal 2024 net sales to be flat to slightly up, compared with analysts expectations of 3.7% growth. Under Armour also expects diluted earnings per share to be between 47 cents and 51 cents in 2024. Its net revenue rose 7.5% to about $1.40 billion in the quarter ended March 31 compared with analysts' average estimate of $1.36 billion.

☆ Under Armour sees 2024 sales, profit below estimates as demand slows
▼ + stars: | 2023-05-09 | by ( ) www.reuters.com time to read: +1 min

May 9 (Reuters) - Under Armour Inc (UAA.N) forecast annual sales and profit below Wall Street expectations on Tuesday in a sign that stubborn inflation was discouraging shoppers from spending on its athletic clothes and footwear. The company expects fiscal 2024 net sales to be flat to slightly up, compared with analysts expectations of 3.7% growth. Under Armour also expects diluted earnings per share to be between 47 cents and 51 cents in 2024. Analysts were expecting a profit of 61 cents, according to Refinitiv data. Reporting by Granth Vanaik in Bengaluru; Editing by Dhanya Ann ThoppilOur Standards: The Thomson Reuters Trust Principles.

☆ Lululemon’s Climate Goals Hinge on Replacing Oil With Plants
▼ + stars: | 2023-04-20 | by ( Dieter Holger | ) www.wsj.com time to read: +6 min

Lululemon Athletica Inc.’s need for crude oil for its leggings and other stretchy clothes presents a hurdle to meeting its climate ambitions. Its first products out this month are two shirts containing at least 50% nylon made from plant-based sugars instead of oil. A new Lululemon shirt contains at least 50% nylon made from plant-based sugars instead of oil. Lululemon’s push into biomaterials is part of a goal to make all of its products with sustainable materials by the end of the decade. Biomaterials also can help Lululemon more swiftly reduce its climate impact because using recycled materials is challenging, Ms. Speck said.

Wolfe Research warned investors to avoid these low-quality stocks that could blow up. Using fourth-quarter corporate results, Wolfe Research identified potentially underperforming stocks using its earnings quality score, which considers several variables including sentiment, valuation metrics and various financial ratios. From this group, Wolfe Research found the names in the bottom 10% of its earnings quality score. Wolfe Research also identified names with high short interest relative to the company's sector. Wolfe also found the company has the lowest earnings quality score of all energy stocks tracked at just 2.

☆ Wall Street jumps with rosy outlooks from companies
▼ + stars: | 2023-03-29 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +3 min

Micron (MU.O) shares shot up 7.2%, boosting the Nasdaq and S&P 500, and leading gains in the PHLX semiconductor index (.SOX), which closed 3.3% higher. Lululemon surges after strong reoprtThe bulk of S&P 500 companies begin reporting on the first quarter in mid-April. On Monday, regional U.S. lender First Citizens BancShares scooped up the assets of Silicon Valley Bank. Michael Barr, Fed Vice Chair for Supervision, told Congress the scope of blame for Silicon Valley Bank's failure stretches across bank executives. The S&P 500 posted 9 new 52-week highs and no new lows; the Nasdaq Composite recorded 69 new highs and 135 new lows.

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