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☆ Roku hires Stitch Fix's Dan Jedda as finance chief
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +1 min

March 8 (Reuters) - Streaming service Roku Inc (ROKU.O) said on Wednesday it has hired former finance chief of personalized styling service company Stitch Fix Inc (SFIX.O) Dan Jedda as its chief financial officer. Roku had in its latest earnings report said it will cut costs while forecasting better-than-expected quarterly revenue on higher ad spends on the platform. Jedda's departure from Stitch Fix, which was announced by the company on Tuesday, comes months after the exit of its chief executive amid workforce cuts. Stitch Fix also missed estimates for its second-quarter results and lowered its full-year revenue forecast, signaling waning interest for its curated apparel boxes. Reporting by Yuvraj Malik in Bengaluru; Editing by Arun KoyyurOur Standards: The Thomson Reuters Trust Principles.

☆ Jim Cramer's top 10 things to watch in the stock market Wednesday: Powell Day 2, strong jobs
▼ + stars: | 2023-03-08 | by ( Jim Cramer | ) www.cnbc.com time to read: +4 min

Barclays raises price target on Zillow (Z) to $30 per share from $24 but keeps underweight (sell) rating. Industrial gas and engineering giant Linde (LIN) gets another price target boost: UBS goes to $410 per share from $375. 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.

☆ Stocks making the biggest premarket moves: CrowdStrike, Occidental Petroleum, Tesla and more
▼ + stars: | 2023-03-08 | by ( Jesse Pound | ) www.cnbc.com time to read: +2 min

Here are the stocks making notable moves in premarket trading on Wednesday, March 8. CrowdStrike — Shares of the cybersecurity firm climbed more than 6% in premarket trading after a stronger-than-expected report for the fourth quarter. Occidental Petroleum — The energy stock climbed nearly 3% in premarket trading after a new regulatory filing showed Warren Buffett's Berkshire Hathaway added to its already large stake in the company over the past trading sessions. Tesla — Shares of the automaker fell less than 1% in premarket trading after Tesla was downgraded to hold from buy at Berenberg. Maxeon Solar Technologies — Shares of the Singapore-based solar panel company jumped nearly 15% in premarket trading after the company's fourth-quarter report.

☆ 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.

☆ Stocks making the biggest moves after hours: CrowdStrike, Stitch Fix and more
▼ + stars: | 2023-03-07 | by ( Hakyung Kim | ) www.cnbc.com time to read: +1 min

CrowdStrike — The global cybersecurity company's shares were up 6% after its fourth-quarter earnings and revenue beat Wall Street's estimates. CrowdStrike posted adjusted per-share earnings of 47 cents, exceeding analysts' estimates of 43 cents, according to Refinitiv. Cricut reported revenue of $280.8 million, greater than the consensus estimate of $261 million, according to FactSet. The company reported per-share earnings of 5 cents, which was one cent below what Wall Street had predicted. Maxeon Solar Technologies — The Singapore-based solar panel company's shares were up 8%.

☆ This week's jobs report will help determine if this nascent March rally has legs
▼ + stars: | 2023-03-05 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Where the market heads next will once again depend on inflation data — especially this week's highly anticipated jobs report. No portfolio companies report earnings next week. However, with mortgage rates bouncing back in recent weeks, it remains to be seen if the strong monthly report will see any follow up. 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.

☆ The Fed and a big jobs report could drive the market in the week ahead, as investors watch rates
▼ + stars: | 2023-03-03 | by ( Patti Domm | In | ) www.cnbc.com time to read: +6 min

The seesaw-like tension between interest rates and stock prices should remain in play in the week ahead, as investors focus on comments from Federal Reserve Chairman Jerome Powell and the February employment report. There are few earnings in the week ahead, so economic data will likely be a main driver for stocks, along with the comments from Powell. The futures market is pricing in a high chance for a quarter point, or 25 basis point hike in March. Week ahead calendar Monday Earnings: WW International, ThredUp, Trip.com, Lordstown Motor, Ciena, Grindr 10:00 a.m. Initial claims 10:00 a.m. Fed Vice Chair for Supervision Michael Barr Friday Earnings: Embraer 8:30 a.m. Employment report 2:00 p.m. Federal budget

☆ Neiman Marcus and The RealReal are the latest to cut jobs as layoffs creep into the retail world. Here's the full list of major retailers that have laid off workers in 2023.
▼ + stars: | 2023-02-16 | by ( Avery Hartmans | ) www.businessinsider.com time to read: +2 min

Still, few retailers are laying off store employees as the "labor hoarding" trend continues in 2023. Since the start of 2023, major retailers ranging from department stores to direct-to-consumer brands have cut staff, the latest swing in a sector that's been hit hard by labor challenges and inflation. Most of the cuts so far have impacted corporate retail employees. At a store level, many retailers are actually holding tighter to workers than usual, even seasonal employees, in a practice economists call "labor hoarding." Here are the retailers who have announced layoffs in 2023:The RealReal, founded in 2011, sells secondhand luxury clothing.

☆ Retailers are hoarding labor even as tech layoffs mount
▼ + stars: | 2023-02-14 | by ( Avery Hartmans | Dominick Reuter | ) www.businessinsider.com time to read: +6 min

Some retailers are bucking the trend of layoffs and holding on to workers. But on the store level, retailers are holding on tight to their workers, even seasonal workers who they typically would have dismissed by now, in a practice known as "labor hoarding." "The concept of labor hoarding is alive and well," Kenneth Kim, a senior economist at KPMG, told Insider. Anna Moneymaker/Getty ImagesThose layoffs don't seem to be an emerging trend in the retail sector, Kim from KPMG said. And while there were 417,000 job cuts in January, the official models were accounting for a lot more, since that's when many retailers typically begin laying off seasonal workers.

☆ Retail CEO crisis: With recent shakeups at Kohl's, Adidas, Dollar General, and more, the industry's top job is suddenly the hardest to fill
▼ + stars: | 2023-02-11 | by ( Matthew Kish | Avery Hartmans | ) www.businessinsider.com time to read: +8 min

It's the surest sign yet of a crisis facing the retail industry. Supply chains got snarled, shoppers stopped visiting stores, and stimulus payments spiked demand, each making it difficult to measure how business was doing. Then stimulus payments sent demand for everything from sneakers to home goods spiking while supply chains snarled. And just when supply chains started to sort themselves out, inflation hit, and shoppers started to scale back spending. Retail CEOs need 'peripheral vision'Workers at Starbucks stores and Amazon warehouses across the country have pushed to unionize, with many calling out the pay disparity between front-line workers and top executives.

This story is part of Select's New & Notable column, where we highlight our favorite product launches, major sales, what we're buying and some of our latest recommendations and advice. This week, we’ve highlighted Ninja’s latest kitchen appliance, Caraway steamers, new bags in the Béis Sport collection and more. The brand is offering 20% off products in the following categories to previous customers: Cordless stick vacuums, upright vacuums, canister vacuums, air purifiers, supersonic hair dryers and Corrale straighteners. For National Puzzle Day (Jan. 29), Jiggy Puzzles is offering 30% purchases of $75 or more, plus free shipping. To recommend the best hair dryers, we spoke to hairstylists about which you should buy depending on your hair type.

“She wouldn’t be able to walk up to medical without help,” the former staff member said, referring to the office where staff medical professionals worked. James Shirey Jr., 14, died of complications from congenital adrenal hyperplasia, a genetic disorder, while at Diamond Ranch Academy in 2009. Diamond Ranch Academy disputed some of the lawsuit’s allegations in a court filing, and denied wrongdoing, but paid his family a $750,000 settlement in 2017. Diamond Ranch Academy was founded in 1999 by Rob and Sherri Dias. Dean Goodridge wants to see accountability for Diamond Ranch Academy, and any other facilities where children have died.

☆ Too many companies botch mass layoffs
▼ + stars: | 2023-01-25 | by ( Jeanne Sahadi | ) edition.cnn.com time to read: +6 min

When it comes to mass layoffs, there seems to be no end to the worst, most bungled ways in which some employees first learn they are being let go. “People have to feel they’re being treated with respect,” said Sarah Rodehorst, CEO of Onwards HR, an offboarding technology platform for human resources, legal and finance teams. (Google declined to comment, pointing instead to a blog post from the CEO on the day of the layoffs.) Employees should receive a communication from the CEO or from division leadership that informs them layoffs will occur and offers them the business reasons for the decision. By “small,” Lee means no more than 5 to 10 people, including a leader or manager they know who delivers the news.

☆ Retail CEO crisis: why the industry's top job is suddenly the hardest to fill
▼ + stars: | 2023-01-23 | by ( Matthew Kish | Avery Hartmans | ) www.businessinsider.com time to read: +8 min

☆ Here are the companies that have laid off employees this year
▼ + stars: | 2023-01-21 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +7 min

Tech firms went on a hiring spree. “Over the past two years we’ve seen periods of dramatic growth,” CEO Sundar Pichai said in an email to employees. The crypto brokerage announced in early January that it’s cutting 950 people – almost one in five employees in its workforce. Departments from human resources to the company’s Amazon (AMZN) Stores will be affected. They’re not in heavy people expansion mode every year,” CEO Andy Jassy said in a memo to employees.

☆ Stitch Fix’s Unraveling Should Sow Broader Tech Doubts
▼ + stars: | 2023-01-17 | by ( Laura Forman | ) www.wsj.com time to read: +1 min

A business often starts with a relatively modest desire to solve one problem for a specific group of people. Somewhere along the way, it becomes tempting to try to be everything to everyone—especially once it has achieved a supersize tech valuation. The retail styling company went public just over five years ago led by founder Katrina Lake at a valuation of around $1.4 billion. Back then it was a company mixing some data and human judgment to curate personalized boxes of new clothing for customers. That combination earned it a somewhat rich tech-like multiple, even though more than 80% of its employees as of its public offering filing were either human stylists or fulfillment workers.

☆ One of Google's big plans to replace third-party cookies just hit a huge setback that it might not recover from
▼ + stars: | 2023-01-13 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +5 min

Google's plan to replace third-party tracking cookies with new tech has hit another snag. A W3C group has rejected Google's Topics API proposal, saying it won't adequately preserve user privacy. The W3C rebuke marks the latest in a series of snags in Google's effort to kill off third-party cookies. However, other browsers like Apple's Safari and Mozilla's Firefox already block third-party cookies as privacy features. The company has its own commercial priorities and the commitment to the CMA that it can't remove third-party cookies until new features provide an adequate replacement.

☆ Jim Cramer gives his take on the returning CEOs of Disney, Stitch Fix and WWE
▼ + stars: | 2023-01-12 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJim Cramer gives his take on the returning CEOs of Disney, Stitch Fix and WWECramer gave his thoughts on three returning CEOs and whether he believes their return will ultimately benefit the companies.

☆ Premarket stocks: Bruised tech investors are hedging their bets
▼ + stars: | 2023-01-10 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

New York CNN —There are two certainties in today’s market: The tech sector has been beaten down and interest rates are higher. What’s happening: Investors are purchasing put options, a bearish bet that a stock will fall during a set period of time, on certain tech stocks at historic rates. The losses also created a booming market for investors who hold put option contracts that allow investors to sell shares of these stocks at a price higher than their current levels. Rising interest rates also dried up the easy money tech companies relied on to fuel big bets on future innovations, and cut into their sky-high valuations. Beyond that, the growing number of layoffs may also give certain tech companies some cover to take more severe steps to trim costs now than they may have otherwise done.

☆ Silicon Valley layoffs go from bad to worse
▼ + stars: | 2023-01-09 | by ( Catherine Thorbecke | ) edition.cnn.com time to read: +6 min

At Amazon and other tech companies, the second half of last year was marked by hiring freezes, layoffs and other cost-cutting measures at a number of household names in Silicon Valley. Rising interest rates also dried up the easy money tech companies relied on to fuel big bets on future innovations, and cut into their sky-high valuations. While there have been some layoffs recently in the consumer goods sector and hints of more to come elsewhere, the situation in Silicon Valley remains in stark contrast to the economy as a whole. And despite the robust overall labor market, there are growing concerns that tech layoffs could spread elsewhere. In that sense, at least, Silicon Valley may once again be ahead of the curve, but not in the way it wants.

☆ Stitch Fix founder Katrina Lake returns as CEO. Here are 5 others who went back to run their former companies.
▼ + stars: | 2023-01-06 | by ( Alexandra York | ) www.businessinsider.com time to read: +2 min

Katrina Lake, the founder of Stitch Fix, is returning as the company's interim CEO. Here are six boomerang CEOs who've returned to the companies they once ran. "I will be stepping in as interim CEO and leading the search process for our next CEO," said Lake, who is immediately replacing Elizabeth Spaulding. "Despite the challenging moment we are in right now, the board and I still deeply believe in the Stitch Fix business, mission, and vision." Lake joins a handful of boomerang CEOs who've returned to the companies they once ran.

☆ Inside Amazon, there's chatter, and jokes, about Jeff Bezos coming back as CEO in the midst of massive layoffs and a plummeting stock price
▼ + stars: | 2023-01-06 | by ( Eugene Kim | Claire Atkinson | ) www.businessinsider.com time to read: +6 min

Some Amazon employees are calling for Jeff Bezos to return as CEO. Some Amazon employees are calling for the return of founder Jeff Bezos as CEO in the midst of massive layoffs and a plunging stock price. "Apparently not even Andy is safe," one employee wrote, referring to Jassy who took over from Bezos as CEO in July 2021. "He should come…he is the best," another employee wrote, referring to Bezos. In the turkey-themed email, viewed by Insider, the CEO acknowledged challenges, thanked Amazon employees, and called for resilience and optimism.

☆ Stitch Fix to Cut 20% of Salaried Jobs, CEO Stepping Down
▼ + stars: | 2023-01-05 | by ( Chris Wack | Colin Kellaher | ) www.wsj.com time to read: 1 min

Stitch Fix Inc. said it is cutting 20% of the company’s salaried jobs, its second major downsizing in the past year, and that its founder would return to lead the personal shopping and styling service. The San Francisco-based company said Elizabeth Spaulding would resign as chief executive after spending less than 18 months in the role. Katrina Lake , who was CEO from the company’s inception in 2011 until July 2021 and has continued to serve as a director, will run the company on an interim basis, Stitch Fix said Thursday.

☆ Stitch Fix Cutting 20% of Salaried Jobs; CEO Stepping Down
▼ + stars: | 2023-01-05 | by ( Chris Wack | ) www.wsj.com time to read: 1 min

Elizabeth Spaulding participates in a panel discussion during the Milken Institute Global Conference in Beverly Hills, Calif., last year. Stitch Fix Inc. said it is cutting roughly 20% of salaried jobs and that Elizabeth Spaulding would resign as chief executive after spending less than 18 months in the role. Katrina Lake , the founder of the personal shopping and styling service, will lead the company on an interim basis, Stitch Fix said Thursday.

☆ Stitch Fix lays off 20% of workforce and its CEO steps down
▼ + stars: | 2023-01-05 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +2 min

New York CNN —Stitch Fix, facing economic turbulence, announced a double whammy on Thursday: CEO Elizabeth Spaulding is stepping down and the company planned to lay off 20% of its salaried staff. “We will be losing many talented team members from across the company and I am truly sorry,” Stitch Fix (SFIX)founder and former CEO Katrina Lake wrote in a blog post. Shares of Stitch Fix rose 6% on the news. Elizabeth Spaulding, CEO of Stitch Fix, announced she was stepping down on Thursday. But Stitch Fix has struggled as more shoppers return to in-person buying at stores and pull back on their online spending.

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