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☆ Here are Wednesday's biggest analyst calls: Netflix, Apple, Dick's, Meta, Amazon, Charles Schwab & more
▼ + stars: | 2023-08-23 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Here are Wednesday's biggest calls on Wall Street: Deutsche Bank reiterates Charles Schwab as buy Deutsche said it sees an even "more" attractive risk/reward for Schwab shares after Tuesday's sell-off. Morgan Stanley reiterates Apple as overweight Morgan Stanley said Apple has "surpassed MSFT as the most under-owned large-cap tech stock exiting the second-quarter." Bank of America reiterates Meta as buy Bank of America said it sees more upside for shares of Meta. Bank of America reiterates Five Below as buy Bank of America said it's standing by shares of the discount retailer. Bank of America downgrades Dick's to neutral from buy Bank of America downgraded the stock after its disappointing earnings report Tuesday.

Persons: Charles Schwab, Schwab, SCHW, Wells Fargo, Wells, Morgan Stanley, Apple, Oppenheimer, Brown, Forman, GM headwinds, Edward Jones, DUK, Avery Dennison, Davidson, Goldman Sachs, Goldman, Susquehanna, Marvell Organizations: Deutsche Bank, Deutsche, Signet, Netflix, GM, Edward, Bank of America, Meta, Barclays, Duke Energy, JPMorgan, UBS, " Bank of America, Infosys, India IT, Marvell Locations: AAPL, 4Q23, Louisiana, Pacific, LPX, India

☆ Morgan Stanley double-upgrades this spirits stock as agave headwinds ease
▼ + stars: | 2023-08-23 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

It's time to buy spirits stock Brown-Forman , according to Morgan Stanley. Morgan Stanley's previous underweight call was based on limited visibility around gross margin recovery, the company's full valuation and slower U.S. spirits industry growth. However, Serotta now expects meaningful upside for the stock. Agave, which is used to produce tequila, has been a disproportionate headwind to the company's general margins over the last several years, Serotta said. Serotta also said that, while the company's absolute valuation is "rarely cheap," its relative valuation appears compelling compared to its peers Monster Beverage and Constellation Brands .

Persons: Brown, Forman, Morgan Stanley, Eric Serotta, Morgan Stanley's, Serotta, — CNBC's Michael Bloom Organizations: Monster Beverage, Constellation Brands

☆ 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

☆ We’re way past hard seltzer: The spiked drinks keep coming
▼ + stars: | 2023-08-05 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +6 min

What started the spiked beverage trend? Spiked beverages have been around for a while. For decades, it was “generally frowned upon” for non-alcoholic beverage brands to enter the alcoholic beverage market, Stanford said. Hard seltzer, meanwhile, had $3.8 billion in sales over the past 12 months, a 14% decline compared to last year. The nostalgia generationEvery year, the alcoholic beverage industry gets a new class of (legal) drinkers to sell to.

Persons: It’s, Casey Brooke Lawson, ”, Duane Stanford, Stanford, Jamie Wideman, Caleb Bryant, seltzer, Seltzer, Timothy A, Clary, Dan White, “, Bryant, Adam Rogers, Coke, Jack Daniel’s Tennessee, Brown, Forman, Absolut, Nielsen, Hard seltzer, who've, Ilene Bergenfeld, SunnyD Organizations: New, New York CNN, MTN, Beverage Digest, Brands, “, Molson Coors, CNN, Coca, Getty, Coors, Jack Daniel’s Tennessee Whiskey, Delight, Harvest Hill Beverage Company Locations: New York, Fresca, AriZona, Mintel, United States, AFP, Topo Chico

☆ Molson Coors bumps up annual forecast on strong demand for premium beers
▼ + stars: | 2023-08-01 | by ( ) www.reuters.com time to read: +2 min

Aug 1 (Reuters) - Molson Coors Beverage (TAP.N) on Tuesday raised its annual sales and profit forecasts, boosted by strong demand for its core brands Miller Lite and Coors Light. For the Americas segment, Molson Coors' net sales rose 10.7% in the second quarter as it shipped more premium beers. Molson Coors now expects full-year 2023 sales to grow in high single-digit percentage, on a constant currency basis. Annual underlying income before income taxes is expected to increase between 23% and 26%, on a constant-currency basis, compared with a low single-digit percentage increase forecast earlier. However, Molson Coors posted second-quarter sales of $3.27 billion, missing estimates of $3.29 billion, according to Refinitiv data.

Persons: Brown, Forman, InBev's Bud, influencer Dylan Mulvaney, Bud Light, Roth, Bill Kirk, Molson Coors, Savyata Mishra, Milla Nissi, Shounak Organizations: Molson Coors Beverage, Miller Lite, Anheuser, Busch InBev, Constellation Brands, Molson Coors, InBev's, Coors, Molson, Thomson Locations: U.S, Chicago, Bengaluru

☆ Bo Goldman, Oscar-Winning Screenwriter, Dies at 90
▼ + stars: | 2023-07-26 | by ( Neil Genzlinger | More About Neil Genzlinger | ) www.nytimes.com time to read: +1 min

Bo Goldman, one of Hollywood’s most admired screenwriters, who took home Oscars for his work on “One Flew Over the Cuckoo’s Nest” (1975) and “Melvin and Howard” (1980), died on Tuesday in Helendale, Calif. The resulting movie, which starred Jack Nicholson as a rebellious new patient who disrupts a psychiatric ward, came out in 1975 and was a career maker. Mr. Goldman and Lawrence Hauben, who shared screenwriting credit, won the Oscar for best screenplay adapted from other material; the movie was also named best picture and earned Oscars for Mr. Forman, Mr. Nicholson and Louise Fletcher, who played the fierce Nurse Ratched. “Even then I hung my head,” Mr. Goldman wrote in a 1981 essay for The New York Times about the insecurities of a writer’s life. “After all, I had adapted somebody else’s work; was it really mine?”

Persons: Bo Goldman, “ Melvin, Howard ”, Todd Field, Goldman, Milos Forman, —, Ken Kesey’s, Jack Nicholson, Lawrence Hauben, Oscar, Forman, Nicholson, Louise Fletcher, Ratched, “, ” Mr Organizations: The New York Times Locations: Helendale, Calif

☆ Why Stay in L.A. When You Could Work Remotely From Nantucket?
▼ + stars: | 2023-06-13 | by ( Tim Mckeough | ) www.nytimes.com time to read: +1 min

While they admired the former barn’s exposed posts and beams, there were things they wanted to change, beginning with the additions of the last three decades. “There was so much to work with, but there was so much wrong, too,” Ms. McQueen Forman said. As construction began, it quickly became clear that those updates wouldn’t happen as quickly as they do on TV. “When you think about the fact that I met Tom on a show where we built a house in one week, doing five bathrooms that took a year just stumped me,” Ms. McQueen Forman said. Ms. McQueen Forman got a bathroom with a free-standing, cast-iron soaking tub and floral wallpaper; Mr. Forman got beadboard paneled walls and a tadelakt shower with an arched doorway.

Persons: ” Ms, McQueen Forman, “, Tom, Forman

The decision is likely to force companies to toe a more careful line when making commercial products that mimic other brands for the sake of parody, legal experts said. The Rogers test is "not appropriate when the accused infringer has used a trademark to designate the source of its own goods - in other words, has used a trademark as a trademark," Justice Elena Kagan wrote. Other experts said the decision leaves space for the First Amendment to apply to parody products. "The likelihood of confusion analysis will still take the challenged product's funny message into account," Brannen said. (This story has been refiled to change dateline to June 12)Reporting by Blake Brittain in WashingtonOur Standards: The Thomson Reuters Trust Principles.

Persons: Brown, Forman, Jack Daniel's, Rogers, infringer, Elena Kagan, Kagan, Megan Bannigan, Plimpton, Bannigan, VIP, Doug Masters, Loeb & Loeb, Masters, Alexandra Roberts, Roberts, Elizabeth Brannen, Maher, Brannen, Blake Brittain Organizations: U.S, Supreme Court, Constitution, VIP Products, MCA Records, Mattel, Debevoise, Loeb &, Northeastern University, Stris, Thomson Locations: Danish, Washington

Jack Daniel's Properties Inc is owned by Louisville, Kentucky-based Brown-Forman Corp (BFb.N). The dispute pitted the whiskey brand's trademark rights against legal protections for creative expression - in this case a send-up by Phoenix-based VIP Products of Jack Daniel's Old No. Jack Daniel's spokesperson Svend Jansen said the company was pleased with the decision. "Jack Daniel's is a brand recognized for quality and craftsmanship, and when friends around the world see the label, they know it stands for something they can count on. Circuit Court of Appeals in 2020 ruled in favor of VIP Products on two grounds.

Persons: Jack, Read, Jack Daniel's, Elena Kagan, Brown, Kagan, Svend Jansen, Jansen, Ginger Rogers, Ginger, Fred, Federico Fellini, Fred Astaire, Rogers, infringer, Joe Biden's, John Kruzel, Andrew Chung, Will Dunham Organizations: U.S, Supreme, VIP Products, Inc, Forman Corp, VIP, Rogers, New, Circuit, Appeals, Hollywood, Thomson Locations: Washington, WASHINGTON, Louisville , Kentucky, Phoenix, Tennessee, New York, San Francisco

☆ Morning Bid: Fearless VIX, China miss, Canada hike?
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +4 min

Wall St's 'fear index', the VIX (.VIX) gauge of implied S&P500 equity volatility, closed below 14 on Tuesday for the first time since February 2020 - more than 5 points below its 33 year average. What's more, the OECD saw Fed rates peaking after just one more hike to the 5.25-5.5% range and "modest" cuts next year. Oil prices remain lower on the week despite new Saudi output cut plans and year-on-year prices are still falling at 36%. Events to watch for later on Wednesday:* Bank of Canada key policy interest rate announcement* U.S. April trade balance. Federal Reserve issues Consumer Credit report for April* Britain's Prime Minister Rishi Sunak travels to Washington to meet with U.S. President Joe Biden* U.S. corporate earnings: Campbell Soup, Brown-FormanReuters GraphicsReuters GraphicsReuters GraphicsReuters GraphicsBy Mike Dolan, Editing by Louise Heavens <a href="mailto:mike.dolan@thomsonreuters.com" target="_blank">mike.dolan@thomsonreuters.com</a>.

Persons: Mike Dolan, you'd, eked, Tayyip Erdogan, Mehmet Simsek, Rishi Sunak, Joe Biden, Campbell, Brown, Forman, Louise Heavens Organizations: U.S, Organisation for Economic Cooperation, Development, World Bank, OECD, Bank of Canada, Canadian, Bank of, Federal, Britain's, Forman Reuters Graphics Reuters, Reuters, Thomson Locations: U.S, York, Saudi, Asia, Bank of Canada, Washington

☆ How to trade CPB, BF.B, and PLAY
▼ + stars: | 2023-06-06 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHow to trade CPB, BF.B, and PLAYJeff Kilburg, KKM Financial founder and CEO, joins 'The Exchange' to discuss how to trade Campbell's Soup, Brown-Forman, and Dave & Buster's.

Persons: Jeff Kilburg, Brown, Forman, Buster's Organizations: KKM Financial

☆ Next questions for markets center on its skinny rally and the chance of a Fed derailment
▼ + stars: | 2023-06-02 | by ( Scott Schnipper | ) www.cnbc.com time to read: +5 min

"The underlying numbers in the report today show that the Fed can probably feel comfortable with maybe one more rate hike, and then pausing." Or, at least those concerns were true until Friday's explosive rally, when more than six New York Stock Exchange issues rose for every one that fell, and all 11 sectors in the S & P 500 gained. Friday's advance carried the S & P 500 to its highest since Aug. 18, 2022, when the benchmark closed at 4,283.74. Another favorable straw in the wind may simply be the fact that the 11.2% rally in the S & P 500, just since the mid-March lows accompanying the failure of Silicon Valley Bank, is so hated and mistrusted. Week-ahead calendar Monday 9:45 a.m.: S & P Global Services PMI (May) 10 a.m.: Durable goods and factory orders (April) 10 a.m.: ISM services PMI (May) Tuesday Earnings: J.M.

Persons: Megan Horneman, Canaccord Genuity, JC O'Hara, Roth MKM, Ross Mayfield, Baird, Savita Subramanian, Subramanian, Brown, Forman, — CNBC's Alexander Harring, Fred Imbert, Michael Bloom Organizations: Federal Reserve, Verdence Capital Advisors, Nvidia, New York Stock Exchange, Silicon Valley Bank, Bank of America, P Global Services PMI, PMI, Growers, Ciena, GameStop Locations: Broad, 2H23, Silicon

☆ Social Media Platforms Are Asking Users for Money. They Probably Don’t Mean You.
▼ + stars: | 2023-03-24 | by ( Laura Forman | ) www.wsj.com time to read: 1 min

Social-media companies are finally asking users to pay up. As of last month, the option to pay for Facebook’s new subscription service will run you nearly $12 a month in some countries despite co-founder Mark Zuckerberg’s 2010 declaration that his social-media network will always be free. Facebook parent Meta Platforms is also rolling out an optional subscription service for its photo sharing app, Instagram. Snap Inc. has added a subscription service for Snapchat. Elon Musk’s Twitter, bleeding cash, recently upgraded its legacy subscription service, Blue, and LinkedIn has had subscription offerings for well over 15 years.

☆ Jack Daniel’s Tangles With Dog Toy at Supreme Court
▼ + stars: | 2023-03-22 | by ( Jess Bravin | ) www.wsj.com time to read: 1 min

A bottle of Jack Daniel’s Tennessee Whiskey next to a ‘Bad Spaniels’ dog toy. WASHINGTON—A trademark case put the Supreme Court’s humor to the test Wednesday, as the justices heard a distillery’s plea to stop a novelty company from selling a dog toy shaped like a bottle of Jack Daniel’s. Phoenix-based VIP Products LLC markets squeaky toys that mimic beverage bottles, including a 10-inch-tall item with a black label reading “Bad Spaniels: The Old No. Among those unamused was Brown-Forman Corp.’s Jack Daniel’s Properties unit, which produces Jack Daniel’s Old No. 7 Brand Tennessee Sour Mash Whiskey.

WASHINGTON, March 22 (Reuters) - The U.S. Supreme Court on Wednesday is set to hear a trademark clash between Jack Daniel's and a dog accessory company behind a parody chew toy resembling the distiller's widely recognized black-label whiskey bottle. The dispute pits the whiskey brand's trademark rights against legal protections for creative expression - in this case a send-up by Phoenix-based VIP Products LLC of Jack Daniel's Old No. A 2,300-strong group of authors took the opposite view, saying a win for Jack Daniel's could lead to a "catastrophic chilling effect" over worries that creative expression might spark litigation. The 9th Circuit said the Bad Spaniels toy was an "expressive work" and thus potentially shielded under the First Amendment from Jack Daniel's trademark infringement claim. President Joe Biden's administration supports Jack Daniel's appeal.

Jack Daniel's Properties Inc is owned by Louisville, Kentucky-based Brown-Forman Corp (BFb.N). "I'm concerned about the First Amendment implications of your position," conservative Justice Samuel Alito told an attorney for Jack Daniel's, referring to the constitutional provision enshrining free-speech protections. "Could any reasonable person think that Jack Daniel's had approved this use of the mark?" Jack Daniel's also contested a finding by the San Francisco-based 9th U.S. "This is a standard commercial product," Kagan told a lawyer for VIP Products, Bennett Cooper.

Some companies have expressed concern that a ruling against Jack Daniel's would weaken their control over their brands and reputations. The toy mimics Lynchburg, Tennessee-based Jack Daniel's famous whiskey bottles with humorous dog-themed alterations - replacing "Old No. "Jack Daniel's loves dogs and appreciates a good joke as much as anyone," the company told the justices in a brief. "But Jack Daniel's likes its customers even more, and doesn't want them confused or associating its fine whiskey with dog poop." VIP Products has said a ruling favoring Jack Daniel's would make it easier for trademark owners to stifle free speech.

☆ Why American whiskey is the real winner of St. Patrick’s Day
▼ + stars: | 2023-03-17 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +3 min

New York CNN —On St. Patrick’s Day, it might seem appropriate to knock back a shot of Jameson Irish Whiskey. “Spirits consumers appreciate the rich heritage, tradition and authenticity of American whiskey,” Lisa Hawkins, senior vice president for public affairs for DISCUS, told CNN. Another factor in the growth of the American whiskey market is small distilleries that are becoming attractions themselves, where people can sample the whiskey and see how it is made. “These unique experiences have helped to introduce more consumers to American whiskey and build excitement for both legacy and newer brands in the category,” Hawkins said. American whiskey is the most popular top spirit to be exported, with the European Union being its biggest market.

☆ People on Twitter are mocking George Santos for weighing in on the Silicon Valley Bank implosion: 'Tell them how you once ran Switzerland's largest bank, George'
▼ + stars: | 2023-03-14 | by ( Aditi Bharade | ) www.businessinsider.com time to read: +3 min

New York Rep. George Santos tweeted that he was against bailing out Silicon Valley Bank. "Tell them how you once ran Switzerland's largest bank, George," read one tweet. Santos was referring to an announcement from federal regulators assuring the public that depositors of Silicon Valley Bank will be made whole. The Federal Deposit Insurance Corporation took control of Silicon Valley Bank on Friday after a disastrous bank run. "Says financial expert and former Goldman CEO George Santos," read a tweet from Chris Jackson, a former county commissioner in Lawrence County, Tennessee.

☆ Premarket stocks: The Fed wants to limit wage growth. That's particularly bad for women
▼ + stars: | 2023-03-10 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

What’s happening: Never-married women earned just 92% of what never-married men did last year, according to the Wells Fargo report. Those wage gaps are “persistently disappointing,” ADP’s Chief Economist Nela Richardson told CNN on Thursday. Markets suffer: Companies with smaller gender pay gaps tend to be rewarded by their shareholders. “The gender pay gap is informing investment strategies,” wrote Refinitiv analysts in a recent report. “Our recent analysis shows that [shares of] companies with no gender pay gap outperform companies with pay gaps between male and female employees,” wrote Refinitiv.

☆ This Cruise Line Can’t Turn You Down
▼ + stars: | 2023-03-09 | by ( Laura Forman | ) www.wsj.com time to read: 1 min

Norwegian Cruise Line says it can trim marketing spending while maintaining the momentum it has gained. The “Great Cruise Comeback” is complete, Norwegian Cruise Line Holdings Chief Executive Frank Del Rio declared last week. Yet, his business still hasn’t arrived at the destination that matters most to investors: a positive bottom line. In December, Norwegian said in a filing it would be undergoing a broad and continuing effort to improve operating efficiencies to attain sustained profitable growth. That initiative started with big-ticket items like a 9% head-count reduction in current and planned shoreside roles.

☆ Brown-Forman misses quarterly profit estimates as costs weigh
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +1 min

March 8 (Reuters) - Brown-Forman Corp (BFb.N) missed Wall Street expectations for third-quarter profit on Wednesday, as the Jack Daniel's whiskey maker struggled to keep a tight lid on costs. Spirit makers such as Brown-Forman have had to raise prices to shield their margins from soaring transportation and input costs. The company's selling, general and administrative expenses rose 14% to $186 million in the quarter. On an adjusted basis, the company earned 25 cents per share, missing analysts' average estimate of 47 cents, according to Refinitiv data. The Louisville, Kentucky-based company's quarterly revenue rose 4.2% to $1.08 billion, edging past analysts' expectations of $1.01 billion.

☆ Morning Bid: Breathtaking Powell jolts
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +5 min

Rate markets are still scrambling to re-set and even the White House seemed taken aback by what it hoped would not be an overreaction to the surprisingly robust start to the new year. "But we're dealing with one month of data and people need to sit back and take a breath." The frenetic activity saw the measure of implied Treasury market volatility (.MOVE) jump to its highest level this year. Sterling , the Japanese yen , China's yuan and both the Australian and Canadian dollars all hit their lowest levels of 2023. * Bank of Canada policy decision* U.S. Federal Reserve Chair Jerome Powell testifies to House Financial Services Committee.

☆ Stocks making the biggest moves midday: Stitch Fix, Tesla, WeWork, Campbell Soup and more
▼ + stars: | 2023-03-08 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

United Natural Foods — The organic food company tumbled 27% after posting earnings for its fiscal second quarter that missed analyst expectations. Stitch Fix — The styling company saw shares drop 10% after it reported weaker-than-expected revenue for the latest quarter as well as a wider-than-forecast loss. The Omaha-based conglomerate bought nearly 5.8 million shares of the oil company in a few trades on Friday, Monday and Tuesday, bumping Berkshire's ownership to 22.2%. Campbell Soup Company — Campbell Soup saw shares rise nearly 2% after its fiscal second quarter earnings, revenue and margins beat analysts' expectations. The company's revenue also topped expectations, coming in at $637 million compared to $625 million anticipated by Refinitiv analysts.

☆ Uber Might Need to Stow Its Freight Train
▼ + stars: | 2023-03-07 | by ( Laura Forman | ) www.wsj.com time to read: 1 min

Dara Khosrowshahi, CEO of Uber, said freight needs to grow to appeal to investors. Uber Technologies has amassed a nearly $7 billion business in a different kind of transportation that investors never talk about but should at least be thinking about. Uber Freight functions much like Uber Rides or Uber Eats in digitally connecting available carriers with shipments. Carriers get upfront pricing, and shippers can track shipments from pickup to delivery.

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