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But plans to introduce bilingual road signs featuring both the English and te reo Maori languages have sparked a divisive, racially charged debate ahead of the country’s looming general election. Slightly less than a quarter of New Zealand’s 892,200 Maori speak te reo Maori as one of their first languages, according to the latest government data. Part of the reason that te reo Maori is not so widely spoken is that back in New Zealand’s colonial era there were active efforts to stamp it out. The Native Schools Act 1867 required schools to teach in English where possible and children were often physically punished for speaking te reo Maori. “The primary objective of these standards is to guarantee that all road signs are unambiguous, uniform, and legible to all,” he said.
Persons: Simeon Brown, Chris Hipkins, “ I’m, , Marty Melville, Awanui Te, Tania Ka’ai, , ” Ka’ai, , Kasem Choocharukul, Kasem, Huw Fairclough, James Griffiths ,, Puakea Nogelmeier, Nogelmeier Organizations: CNN, reo, Zealand, Waka, NZ Transport Agency, New, National, Labour Party government, National Party, Labour, Getty, Native, Victoria University of Wellington, Zealanders, The International, Language, Auckland University of Technology, Chulalongkorn University, Research, University of Leeds, Wales –, New Zealand, Welsh, Welsh Language Society, Gaelic, Constitutional Convention, Hawaiian, University of Hawaii, Hawaii’s Department of Transportation, Wales Locations: Aotearoa, Wellington , New Zealand, AFP, New, New Zealand, Zealanders, Wales, United Kingdom, Thailand, Tredegar , Wales, Republic of Ireland, Hawaii, Olelo Hawai’i, Llanfair, Anglesey, Europe, Hawke’s
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHyman: Companies will have stable P/E multiples in Q2, resulting in increased focus on earningsSimeon Hyman, Global Investment Strategist at ProShares Advisors, discusses the upcoming earnings season and where to invest in the markets.
Persons: Hyman, Simeon Hyman Organizations: Companies, Global Investment, ProShares Advisors
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe know people will come to Prime Day but the question is will they spend, says BMO's Simeon SiegelSimeon Siegel, BM Capital Markets, joins 'Fast Money' to talk Amazon Prime Day and what it could mean for the retailer.
Persons: BMO's Simeon Siegel Simeon Siegel Organizations: BM Capital, Amazon
But that’s not the only effects expected: Combined with climate change, El Niño this year could dent US economic growth, potentially impacting everything from food prices to the winter clothing sales. Higher food prices are a common theme across El Niño events, according to a recent Deutsche Bank report. Dry weather has parched crops in El Salvador as the El Niño weather threatens food security. The last time there was an El Niño in 2018 through 2019, NOAA dubbed it “The Great Puny El Niño” due to its relatively weak impact on weather conditions. He projects that El Niño weather events could cause $84 trillion in economic losses in the 21st century.
Persons: Niño, that’s, , Christopher Callahan, ” Christopher Callahan, El, Lesley, Ann Dupigny, Giroux, Yi Yu, Linh Pham, Winters, Yu, Callahan, Simeon Siegel, , Chris Scheuring, “ It’s, Camilo Freedman Organizations: CNN, Oceanic, Atmospheric Administration, NOAA, Dartmouth, Southern, University of Vermont, University of California, Southwestern, Vietnam Electricity Group, Bloomberg, Getty, Deutsche Bank, BMO Capital Markets, Dupigny, US Federal Aviation Administration, California Farm Bureau, La Union, Prediction Locations: Niño, University of California Irvine, Asia, Australia, Southwestern United States, Tri An, Vinh Cuu, Dong Nai Province, Vietnam, United States, rainier, El, Pasaquina, La, El Salvador
Online brands like Warby Parker and Allbirds are also opening brick and mortar shops. Brands that have moved away from department stores and physical shops in recent years are now pivoting back to traditional retail tactics after experiencing first-hand the difficulty of acquiring and retaining customers directly online. And they're not alone: even digital-first brands like Warby Parker and Allbirds have also opened new physical storefronts. A recent study by UBS predicted that retail stores would continue to close over the next five years and estimated that 50,000 shops would disappear by 2028. Nike has also recently announced that it's expanding partnerships with other physical retailers like Designer Brands and Foot Locker after years of steadily cutting its wholesale relationships.
Persons: it's, Warby Parker, Allbirds, , they're, Simeon Siegel, Noble, Locker Organizations: Nike, Service, Brands, Journal ., Interim, Getty, BMO Capital Markets, International Council of Shopping Centers, Ross Stores, Barnes, Body Works, Walmart, UBS Locations: Macy's, Burlington
The cuisine continues to evolve, as home cooks riff on local food classics and chefs introduce new techniques and flavors. And as it grows, some cooks are highlighting the role of Native Hawaiian cuisine, context that the feel-good story of local food has often brushed aside. He infuses traditional oxtail soup with the flavors of pho, adding burned ginger, cinnamon and cloves to the broth, which is usually fragrant with dried orange peel and star anise. To Hawaii’s fried chicken canon, alongside mochiko chicken and chile chicken, he presents his own entry: a chicken that’s steamed, then fried, and sprinkled with a powder flavored like sinigang, the sour Filipino pork stew. Despite the laid-back approach many Hawaii residents have toward what makes a dish local, some who grew up dining at Tiffany’s have been critical of Mr. Simeon’s menu revisions.
Persons: , Sheldon Simeon, “ Cook, Simeon Locations: Maui, Wailuku, Hawaii
Nike is striking new deals with retailers as brands realize the DTC model isn't all it's cracked up to be. Designer Brands, Macy's, and Foot Locker have each announced expanded relationships with Nike. But, more recently, Nike has expanded partnerships with retailers, including Macy's and DSW owner Designer Brands, the Wall Street Journal reported. In a May presentation, Daniel Heaf, vice president of Nike Direct, said, "People always ask me: Are you a direct business or a wholesale business? Nike's wholesale business grew faster than its direct business between September and November, showing it's still key to the overall business.
Persons: Locker, , Brands, Macy's, Matt Friend, Daniel Heaf, it's, Simeon Siegel, Siegel Organizations: Nike, Brands, Service, Wall Street Journal, Adidas, BMO Capital Markets, DTC
Specifically, canned vegetables, meats and cheese are trending higher in private label share, according to Numerator . In addition, food and treats for cats and dogs are seeing the strongest gains in private label dollar share, the firm found. Walmart's store brands include Sam's Choice and Great Value, the latter of which is the most popular private label brand, according to Numerator. Its private label penetration is in the high 20%, and in the first quarter its penetration grew 110 basis points year over year, he pointed out. He expects its private label penetration to continue to grow.
Persons: Jefferies, Corey Tarlowe, There's, Tarlowe, Morgan Stanley, Simeon Gutman, — CNBC's Michael Bloom Organizations: Walmart, Sam's Locations: WMT
$1.3 Million Homes in California
  + stars: | 2023-06-05 | by ( Angela Serratore | ) www.nytimes.com   time to read: +1 min
Los Osos | $1.3 MillionA one-bedroom, one-bathroom bungalow built in 1940, with a one-bedroom, one-bathroom guesthouse, on a 0.2-acre lotThis house is a 10-minute drive from the El Moro Elfin Forest, a 90-acre nature preserve popular with hikers and bird-watchers. It is also close to the shoreline of Morro Bay and to Baywood Park Beach. San Simeon, home of Hearst Castle, is 40 minutes away by car. The front door opens into a living room with hardwood floors and a rock fireplace. This space is open to an updated kitchen with new Viking appliances and quartz countertops.
Persons: Paso Robles Organizations: El, Hearst, Santa Barbara Locations: Morro Bay, Beach, San Simeon, Paso, Santa, Carmel, Monterey
Dollar General is not performing as expected given the current backdrop, according to Morgan Stanley. "DG's business has not proven as resilient through this current cycle as we expected given its backbone of high consumables mix and its usual status as a trade down beneficiary." Dollar General shares are down more than 32% year to date. A chunk of those losses came Thursday after the discount retailer reported weaker-than-expected earnings and revenue for the first quarter. DG YTD mountain Dollar General stock has slipped more than 32% from the start of the year.
Persons: Morgan Stanley, Morgan Stanley's, Simeon Gutman, Gutman, — CNBC's Michael Bloom Organizations: Dollar Locations: Friday's
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHyman: Volatility has picked up in the bond market and dropped in the equity marketSimeon Hyman, Global Investment Strategist at ProShares Advisors, discusses how he's investing in the current trading environment.
Persons: Hyman, Simeon Hyman Organizations: Global Investment, ProShares Advisors
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIf there's no dramatic market change, retail will have repricing opportunities: BMO's Simeon SiegelSimeon Siegel, senior analyst at BMO Capital Markets, joins 'Closing Bell' to discuss Lululemon seeing a surge in its stock after a Q1 earnings sales beat.
Persons: BMO's Simeon Siegel Simeon Siegel Organizations: BMO Capital Markets
Bath and Body Works ' stock jumped more than 10% in premarket trading Thursday after it beat fiscal first quarter earnings expectations and raised its guidance. It expects adjusted earnings per share to be between $2.68 and $3.08 for the year. The retailer expects earnings per share of 27 to 32 cents in the next quarter, compared to an estimate of 32 cents a share. It reaffirmed its full year sales forecast of flat net sales to a mid-single digit decline. As consumers become more cautious and retail discounts and promotions tick up against a tough macroeconomic backdrop, Bath and Body Works margins dropped.
The success or failure of the Nordstrom Rack turnaround effort could shape the company's future. Those chains such as T.J.Maxx , Ross Stores and Burlington Stores , have opened more stores and wooed new customers, driving higher foot traffic than Nordstrom Rack has seen. Nordstrom Rack stores outnumber the company's namesake stores, with 241 locations across the country, according to company filings. Nordstrom Rack stores accounted for more than 40% of new customers in 2022, CEO Erik Nordstrom said on the March earnings call. As it pins its growth hopes on the off-price locations, Nordstrom has turned Rack stores into e-commerce hubs, too.
The company drove higher sales, in part, by offering lower prices. The company's Chief Financial Officer David Bergman chalked up the margin decline to higher promotions as Under Armour marked down merchandise from prior seasons and sold it through off-price retail. The company said it expects margins will still be under pressure as higher promotions outweigh lower freight costs. Simeon Siegel, a retail analyst for BMO Capital Markets, said the pandemic gave retailers a chance to press the reset button. As of the end of the quarter, Under Armour had nearly $1.2 billion in inventory, up 44% year over year.
Why bank stocks are so unstable
  + stars: | 2023-05-09 | by ( Nicole Goodkind | ) edition.cnn.com   time to read: +10 min
New York CNN —The financial sector has been churning in rough water since the shocking collapse of Silicon Valley Bank in March. Bank insiders see this and have been buying up shares of regional lenders, according to a report by Timothy Coffey, an analyst at Janney Montgomery Scott. The Oracle of Omaha said he remains cautious about holding bank stocks and that he has reduced his own exposure to the sector. The S&P 500 financial sector, however, is down more than 12% over the same period. Economists were hoping that this year would bring better news, but instead 2023 brought the collapse of three US regional banks and a subsequent lending squeeze.
BMO's Simeon Siegel on upgrading Peloton to market perform
  + stars: | 2023-05-08 | 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 EmailBMO's Simeon Siegel on upgrading Peloton to market performSimeon Siegel, BMO Capital Markets, joins 'Power Lunch' to discuss BMO upgrading Peloton to market perform from underperform.
The shops, called Market by Macy's and Bloomie's, are about one-fifth of the size of the retailer's typical Macy's and Bloomingdale's stores. It has not announced the locations of the four Market by Macy's stores, but said the additional Bloomie's store will be in Seattle. By opening the strip-mall shops, the retailer could steal business away from its larger namesake mall stores. Market by Macy's stores have worked best in shopping centers with grocery anchors or stores such as off-mall retailers that draw traffic, Mastronardi said. Melissa Repko | CNBCInside of Market by Macy's, shoppers find a narrower mix of merchandise than in the mall stores.
"We are confident we can make the investments needed to remain competitive in a tight labor market while also growing our profitability." "The [home improvement] environment seems to be weakening, not accelerating, and therefore incremental wage investments at this time would open the door to more questions and surprise. "They're behaving as they should given the tight labor market, showing leadership and not just thinking about a 12-month timeframe. And in a tight labor market, it's getting increasingly difficult to keep talent [if] you pay unlivable wages and [offer] few opportunities for growth and success." It's hard to say when, and if, Home Depot will see a demonstrable return on the monumental expenditure for its frontline workers.
Companies with strong balance sheets have a downside cushion and can find unique opportunities during a slowing economy, according to Morgan Stanley. Corporations with high amounts of cash on their balance sheets can take advantage of a slowing economy by buying back their stock or acquiring businesses at discounted prices, said Morgan Stanley strategist Todd Castagno. "We've identified companies with strong balance sheets and sufficient liquidity, that also generate excess returns over their cost of capital," Castagno said in a note to clients. Investors have been increasingly focused on the strength of corporate balance sheets amid rising concerns that the Federal Reserve's series of interest rate hikes could tip the U.S. economy into a slowdown or recession. Castagno screened the Russell 1000 , except for financials, real estate and utilities, to find companies with fortress-like balance sheets.
Asset managers worry new rules to make LDI investing more robust could render the strategy unviable for some schemes, but consultants warn BlackRock's push could repel pension clients who want to minimise concentration risk. On Wednesday the Bank of England said LDI funds would, in practice, need to increase liquidity buffers to withstand a 300-400 basis points surge in bond yields. BlackRock is also encouraging schemes to shift to a new, smaller range of LDI funds which are less complex to operate, and moving bigger schemes into segregated accounts, which fared better in the crisis, Claringbull said. "But where clients feel they are being compromised they will look to move assets," he added. Despite the crisis fallout BlackRock has told clients it remains committed to LDI.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailHyman: Earnings expectations are now flat vs. a year ago, and that's not a bad place to beSimeon Hyman of ProShares Advisors says the performance of breakeven rates suggests this may be less about a contagion and recession and more about a credit contraction and acceleration of the reduction of inflation.
The e-commerce market grew in 2020 as consumers shied away from brick-and-mortar stores and opted for contactless deliveries during pandemic lockdowns. A period of normalization then followed, according to Morgan Stanley , with the sector notching a streak of four consecutive quarters of declining penetration. Stock picks The recovery in e-commerce growth is an opportunity for incremental sales growth and gains in market share, according to Morgan Stanley. Morgan Stanley said the company is a "share taker" in a key underpenetrated e-commerce category: global luxury. Nike expects the figure to rise to 40% over the longer term, according to Morgan Stanley, which implies e-commerce sales of $30 billion by 2027.
As investors start preparing for the end of the bear market, Morgan Stanley has identified a number of stocks it expects to outperform once the next bull market begins. He has an overweight rating on the stock and a $135 price target, which suggests about 33% upside from Monday's close. He has an overweight rating on Costco and a $520 price target, which implies a little more than 6% upside from Monday's close. Graseck has an overweight rating on JPM and a $173 price target, which implies 36% upside from Monday's close. His $155 price target suggests the stock could rally more than 20% from Monday's close.
That could mark a significant change in the international travel market, to which Chinese tourists are outsized contributors. In the first half of that year alone, their outbound travel spend surpassed $127.5 billion, a study from Chinese travel booking site Ctrip.com found. Chinese outbound travel is forecast to recover around two-thirds of its pre-pandemic levels in 2023. Leopatrizi | E+ | Getty ImagesBecause of those shortcomings, countries that can accommodate Chinese travelers' shifting needs have emerged as clear winners. Thailand, for instance, offers visas-on-arrival to fully vaccinated Chinese tourists who have travel insurance.
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