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☆ Here's how much WeWork co-founder Adam Neumann made before the company's bankruptcy
▼ + stars: | 2023-11-07 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +4 min

WeWork's dizzying rise and protracted fall into Chapter 11 bankruptcy protection Monday largely hinged on one man: Adam Neumann. By the time it filed for bankruptcy protection, WeWork was worth a mere $45 million. "As the co-founder of WeWork who spent a decade building the business with an amazing team of mission-driven people, the company's anticipated bankruptcy filing is disappointing," Neumann said in a statement to CNBC. In all, despite being removed from a management role years earlier, Neumann reportedly collected around $770 million in cash from the 2021 SPAC process alone. Neumann also still retained a stake in the company valued at around $722 million when WeWork debuted in 2021, Bloomberg reported.

Persons: Adam Neumann, WeWork, Neumann, who'd, outsized, SoftBank, it's, Andreesen Horowitz, there's Organizations: CNBC, Bloomberg Locations: WeWork, U.S

☆ Cramer's Lightning Round: Sell Seagen
▼ + stars: | 2023-11-03 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

Stock Chart Icon Stock chart icon TKO Group's year-to-date stock performance. Stock Chart Icon Stock chart icon DocuSign's year-to-date stock performance. Stock Chart Icon Stock chart icon U.S. Bancorp's year-to-date stock performance. Stock Chart Icon Stock chart icon Seagen's year-to-date stock performance. Stock Chart Icon Stock chart icon First Solar's year-to-date stock performance.

Persons: I've, I'm, you've Organizations: U.S . Bancorp, Gas, National Fuel Gas, Fuel Gas

☆ 15 major U.S. cities where starter homes can be found for less than $230,000
▼ + stars: | 2023-11-02 | by ( Mike Winters | ) www.cnbc.com time to read: +1 min

As home prices continue to rise, a starter home in a major city might seem more like a myth than a reality. However, there are 15 major U.S. cities where starter homes can be found for under $230,000, on average, according to a recent analysis by painting services company Five Star Painting. Starter homes commonly refer to relatively modest houses that are affordable for first-time homebuyers, or more generally, homebuyers with lower incomes. Of course, home prices vary by region, so buyers earning less than that could potentially afford a starter home in certain places. Based on Redfin real estate listings of the 50 largest U.S. cities, the following 15 markets had the lowest average starter home price, as of August 2023.

Organizations: Census Locations: U.S

☆ Exclusive: Trucking firm prepares long-shot bid for Yellow, seeks US Treasury support
▼ + stars: | 2023-10-30 | by ( Jarrett Renshaw | ) www.reuters.com time to read: +5 min

Jack Cooper officials, including Executive Chair Sarah Amico, have been talking with Biden administration officials in recent months to get support for extending the terms of the loan. The White House said it was referring all Jack Cooper stakeholder inquiries to the Treasury Department. Jack Cooper and the Teamsters union declined to comment. Yellow owns approximately 12,000 trucks and 35,000 trailers, along with hundreds of terminals, according to its bankruptcy court filing. Trucking firm Estes Express submitted a revised bid worth $1.525 billion in cash for Yellow Corp's shipment centers, topping a $1.5 billion bid from Old Dominion Freight Line (ODFL.O).

Persons: Mike Blake, Biden, Jack Cooper, Sherrod Brown, Republican Roger Marshall, Bernie Sanders, Trump, Jack Cooper's, Sarah Amico, Amico, Lael Brainard, Brendan Danaher, Bob Casey, Tammy Baldwin, Jarrett Renshaw, Dietrich Knauth, Heather Timmons, Matthew Lewis Organizations: U.S, Yellow, Jack Cooper Transport, Ford, Brotherhood of Teamsters, Senators, Republican, Treasury Department, Reuters, Yellow Corp, Treasury, Biden, Democratic, U.S . Senate, Teamsters, White, National Economic Council, Democratic U.S, Citadel, MFN Partners, Walmart, Trucking, Express, Old Dominion Freight, Thomson Locations: Mexico, San Diego , California, U.S, Georgia, Pennsylvania, Wisconsin, Nashville , Tennessee, Philadelphia, New York

☆ Jamie Dimon's stock-moving trades show why investors should track CEOs' buying and selling
▼ + stars: | 2023-10-28 | by ( Kevin Stankiewicz | In Kevinstankiewicz | ) www.cnbc.com time to read: +24 min

While executive stock sales — such as Dimon's planned transactions next year — are not universally red flags, they can get complicated. Insider stock sales Executive stock trades are usually disclosed through SEC filings known as Form 4 documents and accessible through the regulator's EDGAR database — the electronic data gathering, analysis, and retrieval system. Rule 10b5-1 trading plans came into the fold just over two decades ago to reconcile these two discordant facts. Adopting Rule 10b5-1 trading plans gives public-company executives a way to protect against allegations of illegal insider trading in the future. Compared with a tiny stock sale executed through a predetermined plan, executive stock buys generally send a much stronger signal: The executive wants to make money, too.

Persons: Jamie Dimon, Dimon, Jim Cramer, Jim, Eliezer Fich, Dimon's, EDGAR, Chester Spatt, Spatt, —, Susan Li, Drexel's, Wharton, Drexel's Fich, Fich, I'm, Nancy Quan's, Quan, Marc Benioff, Carnegie Mellon's Spatt, Benioff, Howard Schultz, Schultz's, Schultz, Carnegie Mellon's, Nikesh Arora, Arora, Charles Scharf, Wells, Sehwa Kim, Kim, Foot, Mary Dillon, Locker, Dillon, Foot Locker, Jim Cramer's, Al Drago Organizations: JPMorgan Chase, JPMorgan, Dow Jones Industrial, Wall, Dimon, Pfizer, Capitol, Drexel University, Club, Securities, Exchange Commission, SEC, Carnegie Mellon's Tepper School of Business, CNBC, Stanford University, University of Pennsylvania's Wharton School, Stanford, Cola, Salesforce, Carnegie, Starbucks, Palo Alto Networks, Alto Networks, Broadcom, Federal Reserve, Washington Service, Columbia Business School, JPMorgan Chase &, Bloomberg, Getty Locations: U.S, Coke, Salesforce, FL

☆ I converted a sheep barn into an Airbnb with $2,000. Now, I manage over 100 listings. Here's how I grew my business and weathered the Airbnb apocalypse.
▼ + stars: | 2023-10-19 | by ( Claire Turrell | ) www.businessinsider.com time to read: +9 min

Jamie Inlow saw the Airbnb potential of her neighbor's sheep barn, and the two went into business. A property Inlow manages in Charlottesville, Virginia. In late 2020, the business took a real shift when a local real estate agent sent me a DM on Instagram. My partner and I run this Airbnb business full timeI didn't leave my consultancy job until July 2022 as my husband and I were also building our family home. The stylish interior of a Be Still Getaways property.

Persons: Jamie Inlow, Inlow, —, Airbnb, influencers, messaged, who'd, I'm, Inlow's, We're, we've Organizations: Service, Be, Appalachian State University, Facebook, House Locations: Scottsville , Virginia, Scottsville, Charlottesville , Virginia, Staunton , Virginia, Instagram

☆ Layoffs hit coding community Stack Overflow as software engineers increasingly shift to AI for help
▼ + stars: | 2023-10-17 | by ( Kylie Kirschner | ) www.businessinsider.com time to read: +4 min

Coding community Stack Overflow announced on Monday that it's laying off 28% of its staff. Many generative AI models were partly trained on Stack Overflow's information. This is the second round of layoffs Stack Overflow has had this year — it laid off 10% of its workforce in May. Stack Overflow recently announced the new round of layoffs after more than doubling its headcount in 2022. "Some of them are very explicit about calling out Stack Overflow as a primary source," Chandrasekar previously told Insider.

Persons: Stack, —, GitHub, OpenAI's, Prashanth Chandrasekar, Chandrasekar Organizations: Service

☆ A lower-risk way to bet on a comeback by this consumer blue chip using options
▼ + stars: | 2023-10-17 | by ( Tony Zhang | ) www.cnbc.com time to read: +3 min

As consumers continue to remain selective with their spending and cracks start to show within the consumer discretionary sector, one name that is worth paying attention to is McDonald's (MCD) . As a trader, one could look at McDonald's stock and see that the trends are bearish with negative momentum. MCD 3M mountain MCD 3 months But I prefer to view this from a contrarian perspective. (The chart above shows the Commodity Channel Index indicator in the lower panel, which looks at the current stock price vs. its historical average price and is used by technical analysts to determine a trend change.) BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR.

Persons: Zhang

☆ A McDonald's manager sexually harassed a 17-year-old worker until she was 'forced' to resign, a federal agency says
▼ + stars: | 2023-10-13 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

An Oklahoma McDonald's manager sexually harassed a teenage worker until she resigned, the EEOC says. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementA McDonald's manager in Oklahoma sexually harassed a 17-year-old worker until she felt that she had no choice but to resign, a federal agency says. This subjected her to a hostile work environment and amounted to constructive discharge because she was "forced" to resign, the EEOC says. The EEOC is seeking backpay, punitive damages, and other compensation from Arch Fellow for the worker.

Persons: —, Arch Fellows Organizations: Service, Commission, Arch, Arch Fellows Locations: Oklahoma, Checotah, Tulsa

☆ Americans' average rent payments have jumped to $2,047. This chart shows how affordability has evolved in the last decade.
▼ + stars: | 2023-10-12 | by ( Phil Rosen | ) www.businessinsider.com time to read: +4 min

The typical rent in the US climbed 3.2% year-over-year to hit $2,047 in September, Zillow data shows. AdvertisementAdvertisementThe typical US monthly rent payment climbed to $2,047 in September, according to Zillow data. While the total monthly bill is higher on average, the rate of rent price growth has slowed down for 19 consecutive months. Typical monthly rent prices hit $1,281 in January 2015, $1,446 in January 2018, and $1,594 in January 2021. AdvertisementAdvertisementOut of the 50 largest US metropolitan areas, September rents climbed the most month-over-month in Milwaukee (0.8%), Virginia Beach (0.8%), and Philadelphia (0.7%).

Persons: —, Zillow, hunkering Organizations: Service, Federal Reserve, Austin Locations: Milwaukee, Virginia Beach, Philadelphia, Memphis, Orlando, economize

☆ Home buyers are finally seeing a light at the end of the tunnel, but it is going to be painful for homeowners and sellers
▼ + stars: | 2023-10-10 | by ( Cork Gaines | ) www.businessinsider.com time to read: +6 min

There is no end in sight for high mortgage rates, and sellers are dropping prices. AdvertisementAdvertisementThe housing market is in an ugly place right now for buyers and while things may be stabilizing, that just means pressure will likely shift from buyers to sellers. Redfin CEO Glenn Kelman made headlines in recent weeks with several interviews where he said the housing market had hit "rock bottom." "The housing market is just taking a beating because affordability is at a four-decade low. While the market might not get worse for buyers, sellers are not yet at rock bottom after enjoying years of rising home values.

Persons: —, Glenn Kelman, Kelman, ZIlloq, Paul Bradbury, Zillow, Jeff Tucker, Redfin, Jeremy Grantham, Grantham, David Rosenberg, Rosenberg, Merrill Lynch, Luis M, Alvarez, Tom Barkin, Alou Diarra, Getty Organizations: Service, CNBC, Getty, Cleveland Fed, Altos Research, Rosenberg Research, North, AP, Richmond, Fed Locations: North American

☆ The 10 states with the most single homeowners
▼ + stars: | 2023-10-04 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +3 min

The largest number of single homeowners per capita are in the Deep South, a new report shows. These single homeowners are likely to live in the Deep South , according to new analysis of 2021 census data by home construction company All Star Homes. "There are states that are in the Deep South that are high on the list, and then there are states that you could consider more progressive that are in the middle." AdvertisementAdvertisementAccording to All Star Homes, researchers at the company analyzed homeowner data from the 2021 American Housing Survey to figure out the per capita total of single homeowners in each state. Below, the 10 states with the most single homeowners per capita, along with median home price as of August, according to Redfin, and median per capita income, according to 2021 census data.

Persons: —, Jennifer Tracy, Manny Garcia, Zillow's Organizations: Service, Pew Research Center, Star, Star Homes, Survey, Rocket Mortgage Locations: Alabama , Mississippi, Louisiana

☆ Mike Lindell says MyPillow's now facing multiple IRS audits
▼ + stars: | 2023-10-03 | by ( Kwan Wei Kevin Tan | ) www.businessinsider.com time to read: +2 min

Mike Lindell said MyPillow is facing multiple IRS audits. Lindell claimed on the "War Room" podcast that the audits concerned call center staff. AdvertisementAdvertisementMyPillow CEO Mike Lindell says his pillow company is now facing five audits from the IRS. "This is something that hasn't happened in 15 years, and all of a sudden there's 5 IRS audits against MyPillow in three different years," Lindell told Bannon. Last month, Lindell claimed that MyPillow was financially crippled after American Express slashed its credit line.

Persons: Mike Lindell, MyPillow, Lindell, —, Steve Bannon, Steve, Bannon, they're, Donald Trump's Organizations: Service, IRS, MyPillow, Trump, American Express, Lindell, Voting Systems Locations: California, MyPillow, Smartmatic

☆ Good news, homebuyers: This fall could finally be a 'sweet spot' in the US real-estate market, Zillow says
▼ + stars: | 2023-10-03 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

US homebuyers might see a "sweet spot" in the market this fall, said a Zillow economist. Zillow estimates that about 10% of home listings saw a price cut in the week ending September 16 — the most since November. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementAdvertisementUS home prices have risen in the last year due to higher mortgage rates, but Zillow thinks it's a good time to buy — if you have the budget. US home sales have slowed as houses have gotten less affordable, thanks to rising prices which have been driven higher by an inventory shortage and high mortgage rates.

Persons: —, Zillow, it's, Jeff Tucker, It's, homebuyers, Tucker, Freddie Mac Organizations: Service Locations: —

☆ There's one 'lucky' group of homeowners in America's housing market, says a Zillow economist
▼ + stars: | 2023-09-29 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

US homeowners who are downsizing now are "lucky," Skylar Olsen, Zillow's chief economist told MarketWatch. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . For context, the value of the US housing market has surged about 50% from the pre-pandemic days in January 2020 to nearly $52 trillion now, according to a Tuesday report from Zillow. California is currently the US' most valuable housing market, per Zillow. The state's housing market is now worth over $10 trillion — nearly 20% of the national total.

Persons: Skylar Olsen, Olsen, —, Zillow's Olsen, Insider's James Rodriguez Organizations: Service, National Association of Realtors, MarketWatch, Census, NAR Locations: Zillow . California, Florida , New York , Texas, New Jersey

☆ It's about to become much harder for young people to buy a home as student-loan repayments resume
▼ + stars: | 2023-09-26 | by ( Alcynna Lloyd | ) www.businessinsider.com time to read: +5 min

Student-loan repayments will restart on October 1 following a three and a half year hiatus. After more than three and a half years of moratoriums on student loans, repayments are set to resume on October 1. The average student loan borrower has more than $37,000 in federal student-loan debt, according to Bankrate. Manny Garcia, a senior population scientist at Zillow, told Insider that student-loan repayments will likely jeopardize buyers' ability to afford home purchases this year. "Before the pandemic, borrowers were already choosing between meeting their own basic needs and making their student-loan payments.

Persons: —, it's, Manny Garcia, Garcia, Pulsenomics, Zillow, Will Lemke, Stephanie Hall Organizations: Service, Center for American Progress, Wall Street Journal, Inside Mortgage Finance

☆ Millennials looking to buy a home are worrying about climate risk. They're not wrong.
▼ + stars: | 2023-09-25 | by ( Dan Latu | ) www.businessinsider.com time to read: +5 min

Over 80% of prospective homebuyers said climate risk impacted their search, Zillow found. Over 80% of prospective homebuyers said climate risk impacted their search, Zillow found. AdvertisementAdvertisementWhile millennials logged higher concern over climate issues than their Gen Z counterparts, it turns out millennials' budget is often putting them in the path of climate risk. Zillow found 36% of millennial buyers were considering moving to an area with "greater climate risk'" compared with 19% of Gen Zers. The climate crisis puts coastal cities in Florida at a higher risk of flooding.

Persons: Zillow, Millennials, millennials, Zers, Manny Garcia, Zillow's, Garcia, Bob Stephens, Stephens, Jeffrey Greenberg, Jeremy Porter, Todd Bevington Organizations: Service, Carolinas, Insurance, First Street Foundation, AP Locations: Texas , Florida, Florida, California, Louisiana, Lahaina, Vermont, Maine, New York, Asheville , North Carolina

☆ US Housing Market: Home Prices Could Jump 5% in Next Year, Zillow Says
▼ + stars: | 2023-09-22 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Home prices could climb even higher over the next year, Zillow economists said. The real estate listings site revised its 12-month outlook for home prices, predicting a 4.9% increase by August 2024. That's slightly down from its 12-month home price outlook in July, when the firm predicted a 6.5% increase in home prices by July of next year. Experts have warned housing affordability is unlikely to improve until mortgage rates dial back more significantly. That could unlock more inventory to hit the housing market, but it's unlikely to happen anytime soon, with experts forecasting mortgage rates to end the year around 6%.

Persons: Jerome Powell, Bankrate, Zillow, uptick Organizations: Service Locations: Wall, Silicon

☆ The 21 cities where Gen Z homebuyers are moving in next door
▼ + stars: | 2023-09-21 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +2 min

Gen Z accounts for 18% of homebuyers from April to July this year, Zillow said. In 21 metros, Gen Zers make up at least 20% of homebuyers. These places are "punching a little bit above their weight" with first-time homebuyers, Zillow said. But that hasn't deterred Gen Z from buying homes. Here are the places that have the highest share of Gen Z homebuyers.

Persons: Zillow, Gen Zers, Gen, Z, homebuyers, Manny Garcia, Zillow's, Aidan Dobbins, Zer, millennials Organizations: Service, Baltimore, Bureau of Labor Statistics Locations: homebuyers, Wall, Silicon, Midwest, New York

☆ Most Americans who want to buy a home next year can't afford a 20% down payment
▼ + stars: | 2023-09-20 | by ( Kelsey Neubauer | ) www.businessinsider.com time to read: +4 min

Most Americans who plan to buy a home next year can't afford a down payment, according to Zillow. There aren't enough homes on the market for everyone who wants to buy one, Zillow said. AdvertisementAdvertisement"There are about 54 million Americans who said they intend to buy a home — that represents 34 million unique households," Garcia said. Down payment requirements can range from 0% to more than 20%, Insider previously reported, and in America's 20 biggest cities, a 20% down payment ranges from $39,859 in Oklahoma City to $260,849 in San Jose, California. During 2023, the majority of people who successfully got a mortgage put down 20% of the cost of the home, according to Zillow.

Persons: Zillow, Manny Garcia, Zillow's, Garcia Organizations: Service, Zillow Locations: Wall, Silicon, Oklahoma City, San Jose , California

☆ Bankrupt trucking company Yellow eyes October sale of vehicle fleet
▼ + stars: | 2023-09-15 | by ( Dietrich Knauth | ) www.reuters.com time to read: +2 min

The freight shipping company, which went bankrupt in August after a protracted labor dispute, owns approximately 12,000 trucks and 35,000 trailers, according to its bankruptcy court filings. Yellow intends to conduct an auction for the vehicles by Oct 18 and seek court approval for the vehicle sale on Oct. 27. The company is taking a longer time to sell its real estate assets, despite having a $1.525 billion offer in hand from rival shipping company Estes Express Lines. Yellow has set a Nov. 9 bid deadline and expects to seek court approval for a real estate sale in December. A longer sale process will allow more competition for Yellow's 300 shipping terminals and other real estate assets, which have already generated significant interest from buyers.

Persons: Allyson Smith, Craig Goldblatt, Smith, Estes, Donald Trump's, Goldblatt, Dietrich Knauth, Alexia Garamfalvi, Nick Zieminski Organizations: Yellow Corp, U.S, Express, Old Dominion Freight, U.S . Treasury, MFN Partners, International Brotherhood of Teamsters, Thomson Locations: Wilmington , Delaware, Yellow's, Nashville , Tennessee

☆ Trucking firm Estes Express submits revised $1.525 bln bid for Yellow's shipment centers
▼ + stars: | 2023-09-14 | by ( ) www.reuters.com time to read: +2 min

Yellow said Estes' new bid is the best and superior to Old Dominion Freight Line Inc's (ODFL.O) $1.5 billion August stalking horse bid. Privately held Estes had submitted a $1.3 billion bid last month to acquire Yellow's shipment centers. A stalking horse bid is an initial bid on the assets of a bankrupt company, setting the low-end bidding bar so that other bidders cannot underbid the purchase price. "Estes Stalking Horse Bid is an improvement over the Old Dominion Bid because it offers more money for the Acquired Assets and less fees in terms of bid protections," Yellow said in a filing with the U.S. Bankruptcy Court in Delaware. The nearly 100-year-old company filed for bankruptcy with just $39 million cash on hand, which it said was not enough to run a months-long bankruptcy sale for its 12,000 trucks, real estate holdings and other assets.

Persons: Mike Blake, Yellow, Estes, Ducera, Juby Babu, Subhranshu Sahu Organizations: U.S, Trucking, Express, Old Dominion, Old, Bankruptcy, Ducera Partners, International Brotherhood of Teamsters, Thomson Locations: Mexico, San Diego , California, U.S, Delaware, Bengaluru

☆ Here are Wednesday's biggest analyst calls: Apple, Tesla, FedEx, Match, Ford, Amazon, Microsoft and more
▼ + stars: | 2023-09-13 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Morgan Stanley reiterates Apple as overweight Morgan Stanley said it's standing by its overweight rating after Apple's iPhone event Tuesday. F (Buy) earnings more resilient than appreciated driven by Pro business." Morgan Stanley reiterates Darden as overweight Morgan Stanley said it's bullish heading into the owner of Red Lobster's earnings next week. Morgan Stanley reiterates Tesla as overweight Morgan Stanley said it's standing by its recent upgrade of the stock despite investor pushback. TD Cowen reiterates FedEx as outperform TD Cowen said it's cautiously optimistic heading into FedEx earnings next week.

Persons: Morgan Stanley, Apple, it's, BEV, Darden, Red, Commerce Max, Tesla, pushback, Michael Kors, Guggenheim, TD Cowen, Hershey, Cowen, Bernstein, Roth, Roth MKM, BTIG, Lennar, F3Q, Needham Organizations: JPMorgan, UBS, Ford, General Motors, Pro, Citi, Commerce, JPMorgan downgrades Oracle, WWE, UFC, Holdings, NYSE, Microsoft, FedEx, " Bank of America, Garden Entertainment, Bank of America, YouTube Locations: China, Capri, Lennar, GOOGL

☆ 'House-rich' Americans are sitting on nearly $30 trillion in home equity. Here's how to tap it
▼ + stars: | 2023-09-07 | by ( Jessica Dickler | ) www.cnbc.com time to read: +1 min

Thanks to skyrocketing housing prices, homeowners are now sitting on nearly $30 trillion in home equity, according to the St. Louis Federal Reserve — just shy of the 2022 peak. How to tap your home for cashFactor in the terms, rates and risksWhen it comes to borrowing against your home, the terms can vary greatly, according to a LendingTree report that analyzed more than 580,000 home equity loan offers across the country. The average home equity loan amount offered to homeowners is $104,102, LendingTree found. Access to HELOCs has improved, although the most preferable terms still go to borrowers with higher credit scores and lower debt-to-income ratios. "Though a home equity loan can be a good way to pay for big expenses, like major renovations, or to consolidate high-interest debt, getting one isn't without drawback," added Jacob Channel, LendingTree's senior economist.

Persons: Louis Federal Reserve —, LendingTree, Nicole Bachaud, Jacob, LendingTree's Organizations: Louis Federal Reserve Locations: Homes, Iowa, Maryland

☆ Buy this home improvement retailer as tailwinds start adding up, Bernstein says
▼ + stars: | 2023-09-05 | by ( Hakyung Kim | ) www.cnbc.com time to read: +2 min

Bernstein was on the sidelines on Lowe's since it initiated coverage in December. "Margin expansion + Pro momentum + strengthening ROIC + a market poised to improve = we're in," said analyst Dean Rosenblum. Rosenblum forecasts Lowe's will continue to expand its operating margin over the next two years. "LOW's has shown impressive Pro sales growth for the last 10 quarters, outgrowing HD in the first two quarters of FY23. Bernstein is also bullish on the overall U.S. home improvement market over the the medium to long term.

Persons: Bernstein, Dean Rosenblum, Rosenblum, Lowe's, LOW's, " Rosenblum, — CNBC's Michael Bloom Organizations: Home Locations: Friday's, Lowe's

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