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Drivers for Walmart's Spark delivery service are waiting an hour or more in parking lots for orders. According to conversations with four Spark drivers, wait times have become an issue for the drivers as the service has grown. The same Walmart associates responsible for Spark orders also bring items out to customers waiting in parking lots. Spark drivers told Insider that the wait times at Walmart make it hard to know which orders are worth taking. In August, Walmart started asking Spark drivers to deliver orders in batches of up to three orders each.
Persons: , he's, Walmart's, Doug McMillon, Jeff Greenberg, I've, I'm, gabriellew13 Organizations: Service, Walmart, Getty, Costco Locations: Alabama, Nevada, Indiana
Volatility has made a comeback, and that's typically when hedge funds outperform and offer downside protection. Amid the elevated volatility, hedge funds increased their short activity, while focusing on quality stocks, according to Goldman Sachs' prime brokerage data. Specifically, hedge funds have been shorting exchange-traded funds in large cap equity, sectors and credit categories for three sessions in a row this week, Goldman said. Quality trade Meanwhile, hedge funds are pivoting to stocks with high-quality fundamentals. The real estate sector, for example, saw a net short position of 2% among hedge funds, DeSanctis said.
Persons: Goldman Sachs, Goldman, David Kostin, Steven DeSanctis, DeSanctis, — CNBC's Michael Bloom Organizations: Treasury, Federal Reserve, Costco, Cisco, Cadence Design Systems Locations: U.S
Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. The yield is at a 16-year high, and Jim Cramer has called it the " tyranny of the 10-year ." Constellation reports Club holding Constellation Brands (STZ) delivered a beat on quarterly earnings and revenue on Thursday. 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, Jim Cramer's, Jim Organizations: CNBC, Nasdaq, Treasury, West Texas, Constellation, Club, Constellation Brands, Costco Wholesale, U.S, Costco Locations: U.S
A person pushes a shopping cart through the produce section of a grocery store in Toronto, Ontario, Canada November 22, 2022. REUTERS/Carlos Osorio/File Photo Acquire Licensing RightsOTTAWA, Oct 5 (Reuters) - The Canadian government, under political pressure to tackle high inflation, said on Thursday the country's five major grocery chains had made an initial commitment to help stabilise food prices. Innovation Minister Francois-Philippe Champagne said Canadians would soon see discounts on a number of food products, as well as price freezes and price-matching campaigns. This is Day One of a fight that we are fighting on behalf of Canadians," Champagne told reporters when asked whether tax increases were still possible. Champagne also said Ottawa would establish a special grocery task force to monitor whether the chains were living up to their commitments to keep food prices under control.
Persons: Carlos Osorio, Francois, Philippe Champagne, Justin Trudeau, Champagne, David Ljunggren, Jane Merriman Organizations: REUTERS, Rights OTTAWA, Canadian, Innovation, Walmart, Costco, Thomson Locations: Toronto , Ontario, Canada, Ottawa
Retailers hoped to save big on labor costs by introducing self-checkout lanes. Now retailers including Costco, Walmart, and Kroger are rethinking some self-checkout strategies. Costco, for example, has started asking staff to check membership cards in the self-checkout lanes, as well as assist with scanning items. This is not exactly the labor-minimizing tech retailers were promised. AdvertisementAdvertisementWalmart and Kroger use sophisticated video-monitoring and sensor tech to track merchandise through stores and self-checkout lanes.
Persons: , Dominick Reuter, Kroger, Matt Kelley, Kelley, Christopher Andrews Organizations: Service, Costco, Walmart, Kroger, Depot, LiveView Technologies, Drew University, CNN Locations: Albuquerque , New Mexico
While not a typical outlet for the sale of precious metals, the members-only warehouse chain has seen its 1-ounce gold bars sell out faster than discounted 170-ounce jugs of laundry detergent. Unlike some other discount finds at the retail giant, gold bars come with hefty price tag. Political Cartoons View All 1199 ImagesCostco did not specify how many gold bars have been sold recently, or how often it restocks them. Chances are, interest around Costco's gold bars isn't going away anytime soon. For other precious metals, silver for December delivery fell 23 cents to $21.15 an ounce and December copper fell 3 cents to $3.59 a pound.
Persons: Richard Galanti, , there's, Jonathan Rose, , David Wagner III, Rose, Wagner Organizations: Costco, Associated Press, Genesis Gold, U.S ., Aptus Capital Advisors, Commodity Futures Trade Commission, Gold Locations: Issaquah , Washington
But how big will the ball be when it comes to its success and the impact on Las Vegas tourism? "If they can sell tickets for $100 during the day in Las Vegas, it could be a big success. The Las Vegas Sphere dressed as a jack-o'-lantern. Tickets for The Sphere Experience start at $90 each and go up to $250 for the best seats. For The Sphere Experience, there are three shows on most Mondays, Tuesdays, and Thursdays, with four on Sundays.
Persons: Darren Aronofsky, , Charles Bobrinskoy, Ariel Investments —, John Rogers, Bobrinskoy, Kevin Mazur, Taylor Swift Organizations: Las Vegas, Service, of, Ariel, Anadolu Agency, Getty, Bloomberg, Costco Locations: Las, Las Vegas
Cramer's Lightning Round: Stay away from PacWest Bancorp
  + stars: | 2023-10-02 | by ( Julie Coleman | ) www.cnbc.com   time to read: +1 min
Stock Chart Icon Stock chart icon Energy Transfer's year-to-date stock performance. Stock Chart Icon Stock chart icon Perrigo's year-to-date stock performance. Stock Chart Icon Stock chart icon Robinhood's year-to-date stock performance. Stock Chart Icon Stock chart icon Palantir's year-to-date stock performance. Stock Chart Icon Stock chart icon PacWest Bancorp's year-to-date stock performance.
Persons: PacWest, Kratos, Jim Cramer's Organizations: Energy, Costco
The higher-for-longer interest rate regime poses a direct threat to company profitability, but some stocks are a lot less vulnerable to higher borrow costs, according to Goldman Sachs. The Federal Reserve has taken interest rates to the highest level since 2001 while forecasting one more hike this year. The S & P 500 finished September down 4.9%, suffering its worst month of 2023. The Wall Street firm screened the S & P 500 for stocks with low leverage, high interest coverage and low EBITDA growth variability. Specifically, Goldman identified stocks with net debt to EBITDA below 1, EBIT to interest expense in top quartile among S & P 500 stocks and with EBITDA growth variability in bottom quartile.
Persons: Goldman Sachs, ROE, David Kostin, Stocks, Kostin, Goldman Organizations: Goldman, Federal, Street, Cisco, Cadence Design Systems, Cognizant Technology Solutions, Consumer, Costco Locations: EBITDA
After September lived up to its reputation as the worst month of the year, bulls are hopeful earnings will prove a welcome distraction for a stock market mired in weak seasonal trends and rising interest rates. "Net net, the earnings estimates for these early reporters are going up, and that is a positive sign for earnings season," Earnings Scout founder and CEO Nick Raich from told me. Valuations are coming down but are still high The forward multiple for the S & P 500 (Q4 2023, and Q1-Q3 for 2024) is 17.9. For example, industrials have seen a significant decline in earnings estimates due to very large estimate declines for Boeing. Bulls hopeful earnings will prove a welcome distraction The expectations for rising earnings has many hopeful that it will help get stocks out of their recent rut due to rising interest rates.
Persons: Nick Raich, John Butters, Nicholas Colas, Raich Organizations: JPMorgan, FedEx, Oracle, Darden, Costco, Pepsi, General Motors, Ford, Netflix, NVIDIA, Apple, Intel, Boeing, Southwest Airlines, American Airlines, United Parcel Service Locations: AutoZone, Horton
The US economy showed signs of a soft landing this summer. In September, the Federal Reserve buoyed those hopes by keeping interest rates unchanged for the first time since the first quarter of 2022. At the start of the rate increase, many borrowers, such as existing homeowners, had low mortgage interest rates locked in. As the economist David Rosenberg says, it typically takes six months for a recession to hit the economy after interest rates increase by this much. AdvertisementAdvertisementAnd while Powell said a soft landing is "possible," he also warned that it could be decided by factors "outside our control."
Persons: , Taylor, Oppenheimer, Morgan, David Rosenberg, Eric Thayer, Janet Yellen, Jerome Powell, Powell Organizations: Service, National Association of Business Economics, Bank of America, Federal Reserve, JPMorgan, Costco, Bloomberg, Gas Locations: Monterey Park , California
Beware the bears: Why it's too easy to be a seller right now
  + stars: | 2023-10-01 | by ( Jim Cramer | ) www.cnbc.com   time to read: +6 min
Now that we are almost back to normal via de-inversion, what does that say to the billionaire class? The stock sellers show no fortitude. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.
Persons: , Jerome Powell, Brent, didn't, Jim Cramer's, Jim Cramer, Jim, Kai Pfaffenbach Organizations: Treasury, Costco, Organization of Petroleum, Club, Costco Wholesale, Nike, Honeywell, Nvidia, Fed, Jim Cramer's Charitable, CNBC Locations: Saudi Arabia, Frankfurt, Germany
He told me, "If you're working, there are steps you should take so you are always comfortable." Save as much money as you canI save money now automatically so it's in my savings account before I even see it. Pay all of my household bills first, including that cell phone billSometimes we have to learn these money lessons the hard way. I pay every bill in my home first: rent, cable, electric, water, and my cell phone bill. Our cell phones are such a big part of our lives, and you may even use your cell phone for work.
Persons: I'm, what's Organizations: Costco, Netflix, Apple Locations: Paris
“Having Target here helped revitalize East Harlem with hundreds of new jobs, customers and more services to our area. Courtesy Lou MartinsThe retail industry said it is grappling with a particular type of store theft that is more dangerous than petty shoplifting, called “organized retail crime” or ORC. The East River Plaza shopping center in New York City's East Harlem neighborhood. “The East Harlem store could have been doing very high volume in sales but still losing money because of theft,” Cohen said. The Target store in NYC's East Harlem is set to close in October.
Persons: Lou Martins, “ I’ve, , Martins, Maria Gonzalez Arrieta, “ We’ve, ” Lou Martins, Alex Abreu, Abreu, , ” Abreu, it’s, We’ve, Tom Wickman, ” Wickman, “ Abuelitas, ” Xavier Santiago, Santiago Xavier, Santiago, I’ve, Mark Cohen, ” Cohen, Venkatesh Shankar, ” Shankar, Fatih Aktas, Ted Wheeler, ” – CNN’s Matt Egan Organizations: New, New York CNN, Costco, 118th, Target, eBay, Facebook, , East Harlem, Blumfeld, The New York Times, New York Police, Walgreens, Business, US Chamber of Commerce, , Commerce, Community Board, East, Community, Columbia, Texas, Mays Business School, Anadolu Agency, Blumenfeld, CNN, Portland Police Bureau Locations: New York, Manhattan —, New York City, San Francisco, Seattle, Target, Plaza, Harlem, Aldi, Burlington, Pleasant Avenue, East Harlem, NYC's East Harlem, River, Portland
Interest rates keep climbing, but that's not stopping Wall Street analysts from finding a slew of stocks to buy. CNBC Pro combed through top Wall Street research to find stocks that are beneficiaries of high interest rates. HealthEquity "We view HQY as an attractive investment in a higher interest rate environment that can function as a portfolio diversifier," according to Baird analyst Mark Marcon. The firm said as middle market businesses face rising interest rates, Bunge can take advantage. Toll Brothers High interest rates are no problem for the homebuilder, Raymond James analyst Buck Horne said in a recent note.
Persons: Bunge, Baird, Mark Marcon, Marcon, Goldman Sachs, Adam Samuelson, Samuelson, Raymond James, Buck Horne, Horne, homebuilders, TOL, HealthEquity, Morgan Stanley Organizations: CNBC, Bank of America, Toll, HealthEquity, Costco, Evercore ISI, CMA, Catering Locations: HealthEquity, homebuilders, homebuilding
In the past year, clothing retailers have sought to clear excess stock that had piled up due to a shift in consumer demand to essentials from discretionary items like clothing. But with fourth-quarter temperatures expected to start off warm, according to weather tracking firm Weather Trends International, stores carrying winter styles and gear could find themselves loaded with inventory at the end of the season. European company Pepco Group (PCOP.WA) also noted that the landing of its autumn and winter clothing inventory had coincided with persistent record-warm weather in its core Central and Eastern European markets. In the United States, temperatures could rise by 2 to 12 degrees Fahrenheit on average in the October-December period compared with last year, according to Weather Trends International. Abercrombie & Fitch (ANF.N) also said there was strong demand for "seasonless products" in the second quarter, particularly in the men's category, as customers picked out year-round clothing items and styles.
Persons: Helena Helmersson, Andy Bond, Bill Kirk, Clodagh, David Swartz, Robert Woods, Kristen D'Arcy, Abercrombie, Simon Wolfson, Ananya Mariam Rajesh, James Davey, Helen Reid, Matthew Lewis Organizations: Reuters, Pepco, Amazon.com, REUTERS, Walmart, Dick's Sporting, Costco Wholesale, Morningstar Research, Vision Brands, Fitch, Thomson Locations: United States, Europe, Cos, Eastern, Grafton, Dublin, Ireland, outerwear, Bengaluru, London
Jennifer Ortakales Dawkins/InsiderNaturally, customers like Michelle Rodriguez were stocking up on their cleaning and beauty supplies in preparation for the store's closure. Jennifer Ortakales Dawkins/InsiderEmployees were tight-lipped. Jennifer Ortakales Dawkins/InsiderParents like Krystle Rogers carted their children through the toy section. Jennifer Ortakales Dawkins/InsiderDjeneba Kone used to be one of those kids. Jennifer Ortakales Dawkins/InsiderWhile most of the kids I saw were respectful, that's not to say they don't cause some trouble.
Persons: It's, , it's, Jennifer Ortakales Dawkins, Michelle Rodriguez, Rodriguez, she's, Let's, Krystle Rogers, She's, she'll, Djeneba Kone, doesn't, I've, that's, seltzer Organizations: Service, East, East Harlem locals, Yankee, Bronx ., Costco, Employees, Starbucks, Walmart Locations: East Harlem, Harlem, Manhattan, Bronx, New Jersey
Costco has stopped issuing gift cards to Instacart shoppers returning undeliverable items. AdvertisementAdvertisementCostco is no longer giving Instacart shoppers refunds on orders using gift cards, the delivery company told Insider. Instacart shoppers are sometimes unable to deliver items from Costco after they've been purchased — if a customer isn't home during delivery, for example. Now, Costco appears to be sending refunds directly back to Instacart instead of giving them to shoppers, according to shopper posts on Reddit. The Costco Shop Cards were one way that Instacart shoppers have benefited from canceled orders.
Persons: , Instacart Organizations: Costco, Service, they've, Shoppers Locations: Instacart
Costco wants its tech employees to work from the office at least three days a week beginning in January, according to a memo viewed by Insider. Starting January 2, individual contributors and supervisors must work from the office a minimum of three days, managers must work in the office a minimum of four days, and directors and above must work on site full-time, Costco Chief Information Officer Terry Williams told employees in an email. Costco has a similar policy for other corporate employees, but allowed for flexibility for IT employees until now. Another tech challenge for the company is its continued reliance on archaic warehouse management software for inventory management, which several employees have told Insider is a frequent source of frustration. The company doesn't specify how many of those employees are corporate, nor how many work in IT.
Persons: Terry Williams, Richard Galanti, Galanti, Dominick Reuter Organizations: Costco, IT, Apple, Sam's, U.S Locations: Issaquah, Washington
More young people are getting Costco memberships, CEO Craig Jelinek told CNBC. Younger shoppers have a different purchasing power to baby boomers and Gen X, Jelinek said. AdvertisementAdvertisementMore young people are buying Costco memberships, but they're not buying as much as older generations, the retailer's CEO says. "We're seeing more younger people sign up, absolutely," Craig Jelinek told CNBC's Jim Cramer. They're slightly going up as they become longer members, but initially the purchasing power from the younger generation compared to the boomers or X is a little bit different in what they're buying."
Persons: Craig Jelinek, they're, Gen X, Jelinek, , CNBC's Jim Cramer, Xers –, haven't, Richard Galanti, we're Organizations: Costco, CNBC, Service, Pew Research Center, of Labor Statistics, Census Bureau
Every weekday the CNBC Investing Club with Jim Cramer holds a Morning Meeting livestream at 10:20 a.m. But Jim Cramer said Thursday that he expects yields to peak soon, which should bolster the stock market. 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 . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.
Persons: Jim Cramer, Jim, Stanley Black, Decker, Mizuho, Jim Cramer's Organizations: CNBC, Treasury, Procter & Gamble, Broadcom, GE HealthCare Mizuho, GE HealthCare, Mizuho, Costco, TJX, Club, Costco Wholesale
Insider Today: A Google loophole exposed
  + stars: | 2023-09-28 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +7 min
This post originally appeared in the Insider Today newsletter. In today's big story, we're looking at how a Google loophole brings advertisements for illegal drugs hosted on defaced government websites to the top of search results. Previously, that wasn't an issue since these web pages never appeared in Google searches because website owners restricted Google from indexing them. AdvertisementAdvertisementThe result is people using internal search functions to create webpages advertising drugs on websites viewed as trustworthy by Google. The Insider Today team: Dan DeFrancesco, senior editor and anchor, in New York City.
Persons: , Jamie Dimon, Tom Brady, Kendall Jenner, Arantza Pena, Insider's Katherine Long, hasn't, Katherine, Paul Sancya, Glenn Kelman, Meta, Dwyane Wade, Victor, Jenny Chang, Rodriguez, ThredUp, Nancy Pelosi, Karlie Kloss, Spike Lee, Nattakorn, Dan DeFrancesco, Naga Siu, Hallam Bullock, Lisa Ryan Organizations: Service, Costco, Tech, Business, Google, Alcohol and Drug Foundation, Conference Board, JPMorgan, NBA, Amazon, Big Tech, Atlantic, ABC, Nike, Accenture Locations: Russia, Ukraine, Washington ,, New York City, San Diego, London, New York
You can get a Costco 157-piece Le Creuset at Costco if you're prepared to splash out $4,500. The set "includes everything you need to set up your kitchen to be your own professional chef," Costco says. "The ultimate cookware set from Le Creuset includes everything you need to set up your kitchen to be your own professional chef," the description says. The set includes Le Creuset dinnerware in its signature shade of red. AdvertisementAdvertisementCostco also sells a Le Creuset nine-piece stainless steel cookware set for $499.99 and a nine-piece non-stick cookware set for $399.99.
Persons: Costco, , they're, Le Organizations: Costco, Service
The US consumer is starting to crack
  + stars: | 2023-09-28 | by ( Cork Gaines | ) www.businessinsider.com   time to read: +6 min
AdvertisementAdvertisementEven as interest rates skyrocketed over the past 18 months, a good job market and strong consumer spending kept the US economy moving. However, there are growing signs that the strength of the US consumer is starting to crack. Earlier this month, the Fed kept interest rates unchanged, as expected. At the start of the rate increase, borrowers, like existing homeowners, had low mortgage interest rates locked in. Even dollar stores are starting to feel the pressure of more measured spending after initially benefitting from inflation as wealthier people looked for more value.
Persons: , Morgan Stanley, It'll, Jerome Powell, Powell, David Rosenberg Organizations: Service, Federal Reserve, San Francisco Fed, United Auto Workers, National Association of Business Economics, Bank of America, Conference Board, JPMorgan, Bloomberg, Costco Locations: Michigan
Walmart is pulling self-checkout lanes from at least three stores in Albuquerque, New Mexico. AdvertisementAdvertisementWalmart is pulling self-checkout lanes from at least three stores, requiring shoppers to have an employee ring up their orders. The three stores losing self-checkout are at 400 Eubank NE, 2701 Carlisle NE, and 2266 Wyoming NE, the Albuquerque Journal reported. Walmart shoppers can opt for full-service or they can scan and pay by themselves in the company's new front-end layout. When a separate Albuquerque Walmart closed in March, the company cited "underperformance," but several shoppers told Insider the location was routinely targeted by criminals.
Persons: , Josh Havens, Matt Kelley, Kelly Organizations: Walmart, Service, Eubank, Albuquerque Journal, CTV, Albuquerque Walmart, Police, Costco, Tractor Supply, LiveView Technologies Locations: Albuquerque , New Mexico, Carlisle, Wyoming, Ottawa , Ontario, Albuquerque
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