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Jefferies thinks golf heavyweight Acushnet is primed for strong gains going forward. The firm upgraded the parent company of golf equipment maker Titleist to buy from hold and raised its price target to $84 from $61 per share. "Looking ahead, GOLF is poised to defend its #1 share in golf balls and shoes, and gain share in #3 clubs, particularly metals, through broader appeal; while expanding margins on steady MSD% [mid single-digit] revs," Konik said. The analyst added that Achushnet also maintains underappreciated growth potential stemming from the company's customization options for a range of its products including balls, gloves and shoes. GOLF YTD mountain GOLF in 2023 — CNBC's Michael Bloom contributed to this report.
Persons: Jefferies, Randal Konik, Konik, Achushnet, , Michael Bloom
The coastal grandmother aesthetic started as a TikTok trend, and has been all the rage since last summer. It's inspired in large part by Diane Keaton's character in the Nancy Meyers movie "Something's Gotta Give." Diane Keaton in the Nancy Meyers movie "Something's Gotta Give." Warner Bros. Pictures/Columbia PicturesThe coastal grandmother trend is defined by light-filled, bright interiors; neutral colors; beaches; and florals. Fans of Nancy Meyers movies including "The Holiday" and "It's Complicated," which are often praised for the aspirational homes they depict, may be particularly drawn to the property.
Persons: It's, Diane Keaton's, Nancy Meyers, Diane Keaton Organizations: Warner Bros . Pictures, Columbia
Rebhun said that El Pollo Loco's work with influencers "without a doubt" drove customers to the brand. Dickey said that Dickey's work with influencers – in particular those involved with food and sport – was "directly in response to millennial and Gen Z." "Any lingering traditional media that we do," like TV commercials, radio spots, and out-of-home ads, is "all for boomers and Gen X," she added. Execs told Insider it was "leveraging youth culture," including music, sport, influencers, and TikTok, to create an image of a "Gen Z-esque aspirational lifestyle." Wendy's has also been working with sports, gaming, and music companies to lure in Gen Zers, Loredo said.
Persons: Dickey, Rebhun, influencers, Carl Loredo, influencers –, Gen, Wingstop, Execs, Chipotle's Perdue, Zers, influencers Alexis Frost, Keith Lee, Chipotle, Wendy's, Loredo Organizations: El, El Pollo, Twitter Locations: Fortnite
People walk in the Goldman Sachs global headquarters in Manhattan, New York, U.S., November 15, 2021. REUTERS/Andrew KellyAug 10 (Reuters) - Goldman Sachs (GS.N) shareholders cannot go forward with a class action alleging the bank misled investors about its business practices ahead of the subprime mortgage crisis, a U.S. appeals court ruled on Thursday. Circuit Court of Appeals ruled in three pension funds' long-running case accusing the bank of unlawfully hiding conflicts of interest when creating risky subprime securities, costing investors more than $13 billion. The investors said that the bank's fraudulent statements kept its stock price artificially high. Goldman argued that these "aspirational" statements were too vague and general to have had any impact on the stock price.
Persons: Goldman Sachs, Andrew Kelly, Goldman, John Paulson, Jody Godoy, Jonathan Oatis, John Stonestreet Organizations: REUTERS, The, Circuit, U.S, Goldman, Abacus, U.S . Securities, Exchange Commission, Supreme, Appeals, Thomson Locations: Manhattan , New York, U.S, The New York, Arkansas, New York
Paintings by Chuck Close once sold for as much as $4.8 million. He offered the painting to Sotheby’s, which scheduled it for auction last December but then withdrew it because Mr. Close’s studio and longtime gallery had no record of the painting. Instead of a jackpot, Mr. Herman had a bill for $1,742, for stretching the canvas onto a frame. “One reader commented that I was the Dude redux,” Mr. Herman said, referring to the lovable stoner in the Coens’ “The Big Lebowski.”He so is. Mr. Herman passed.
Persons: Herman, Chuck Close, Caroline White, White’s, Mr, Herman said, Alfred Fuente —, , , Close’s, Taylor Curry Organizations: University of Massachusetts, New York Times, Heritage Locations: Chelsea, New York
Coach owner Tapestry is buying Capri Holdings, the parent company of Michael Kors, for $8.5 billion. The new deal gives Tapestry greater influence in the luxury market and could bolster growth internationally. Capri is the parent company of well-known fashion brands Michael Kors, Versace, and Jimmy Choo. And it could give Tapestry greater influence in the luxury market to take on European powerhouses LVMH and Kering, which own a string of luxury brands including Louis Vuitton, Tiffany's, and Gucci. By acquiring Capri, Tapestry will add three well-known luxury brands to its roster.
Persons: Tapestry, Michael Kors, Kate Spade, Versace, Jimmy Choo, Louis Vuitton, Gucci, Neil Saunders, it's Organizations: Capri Holdings, Service, GlobalData Locations: Wall, Silicon, Tiffany's
Tapestry Inc., which owns Kate Spade and Coach, announced Thursday that it’s acquiring Capri Holdings, the parent company of Michael Kors and Versace. The $8.5 billion deal could help them better compete against their higher-end European rivals. Under terms of the deal, Capri shareholders will get $57 per share. Coach changed its parent name to Tapestry in 2017 and Michael Kors switched to Capri after it bought Versace in 2018. Those warning signs have “put pressure on Tapestry and Capri, both of which are now looking to international markets to bolster growth,” Saunders said.
Persons: New York CNN — Michael Kors, Kate Spade, Michael Kors, Versace, Stuart Weitzman, Jimmy Choo, Neil Saunders, , Jean, Jacques Guiony, ” Saunders Organizations: New, New York CNN, Tapestry Inc, Capri Holdings, , Capri Locations: New York, United States
An Amazon delivery drone is on display at Amazon's BOS27 Robotics Innovation Hub in Westborough, Massachusetts on November 10, 2022. Jim Mullin, Prime Air's chief pilot, left Amazon last month, according to his LinkedIn profile. Just as Prime Air was set to launch early this year and start delivering packages sent to consumers, CEO Andy Jassy, who succeeded Bezos in 2021, embarked on the largest round of layoffs in company history, which included significant job cuts at Prime Air. But problems for Prime Air predated the economic downturn. At the beginning of the year, the company began durability and reliability (D&R) testing, which requires that Prime Air complete several hundred hours of flying without any incidents.
Persons: Jim Mullin, Robert Dreer, Mullin, Jeff Bezos, Obama, Andy Jassy, Bezos, David Carbon's, There's, Nobody, Simone Griffin, Griffin, Zipline Organizations: Amazon, Prime Air, Marine, College Station, CNBC, Federal Aviation Administration, Air, Walmart Locations: Westborough , Massachusetts, Pendleton , Oregon, Oregon , California, Texas, , California, Pendleton
Appearing on five television networks Sunday morning, a lawyer for former President Donald J. Trump argued that his actions in the effort to overturn the 2020 election fell short of crimes and were merely “aspirational.”The remarks from his lawyer, John F. Lauro, came as Mr. Trump was blanketing his social media platform, Truth Social, with posts suggesting that his legal team was going to seek the recusal of Judge Tanya S. Chutkan, the federal judge overseeing the case, and try to move his trial out of Washington. With his client facing charges carrying decades in prison after a federal grand jury indicted Mr. Trump for his role in trying to overturn the election, his third criminal case this year, Mr. Lauro appeared in interviews on CNN, ABC, Fox, NBC and CBS. He endeavored to defend Mr. Trump, including against evidence that, as president, he pressured his vice president, Mike Pence, to reject legitimate votes for Joseph R. Biden Jr. in favor of false electors pledged to Mr. Trump. “What President Trump didn’t do is direct Vice President Pence to do anything,” Mr. Lauro said on CNN’s “State of the Union.” “He asked him in an aspirational way.”
Persons: Donald J, Trump, John F, Lauro, Tanya S, Mr, Mike Pence, Joseph R, Biden, Pence, ” “, Organizations: Mr, CNN, ABC, Fox, NBC, CBS, Union Locations: Washington, “ State
"Every single thing that President Trump is being prosecuted for involved aspirational asks - Asking state legislatures, asking state governors, asking state electoral officials to do the right thing. In fact, even asking Vice President Pence was protected by free speech," Lauro told Fox News. Trump, who pleaded not guilty in court last week, faces four federal charges in the election case. The proposed order would also "prevent the press from obtaining exculpatory and material information that might be relevant to these proceedings," he told "Fox News Sunday." Her also pleaded not guilty to New York state charges in Manhattan that he falsified business records to hide hush money payments to a porn star ahead of the 2016 election.
Persons: Donald Trump, Sam Wolfe WASHINGTON, aspirational, John Lauro, Joe Biden's, Trump, Pence, Lauro, Jack Smith, Tanya Chutkan, Smith, Trump's, Susan Heavey, Kanishka Singh, Leah Douglas, Heather Timmons, Grant McCool Organizations: U.S, Republican, REUTERS, Democratic, Fox News, Department of Justice, Trump, Fox, U.S . Justice Department of, Thomson Locations: Columbia , South Carolina, U.S, New York, Manhattan, Washington
CNN —Before Blair Waldorf wore Oscar de la Renta to her high school prom, Marissa Cooper — the sun-kissed It Girl of “The O.C.,” which turns 20 on August 5 — was wearing Chanel to second period. Some fans have counted that she debuted six different Chanel bags in the first season alone. In an interview with Page Six in 2018, Welker said she resorted to buying fake Chanel bags to keep up appearances. Michael Yarish/Fox/Alamy Stock PhotoToday, the genre of high school TV drama has undergone a sartorial shift. “Those Chanel bags that (Cooper) carried, those weren’t something I could have on my budget,” she reportedly said.
Persons: Blair Waldorf, Oscar de la Renta, Marissa Cooper, , Chanel, Cooper, Mischa Barton, Ryan Atwood’s, Imogen Heap, Julie Cooper, Alexandra Welker, Welker, , Michael Yarish, Heidi Bivans —, HBO Max, Miu Miu, Jean Paul Gaultier, , ” Welker, Page Organizations: CNN, Fox, Alamy, HBO, Warner Media Discovery, Locations: Newport Beach , Orange County, Coperni, Downtown LA
Morning Bid: Beijing stimulus given benefit of the doubt
  + stars: | 2023-07-31 | by ( ) www.reuters.com   time to read: +3 min
Yet that merely stoked wagers Beijing would have to dole up sizable stimulus at some point or risk social unrest, particularly with youth unemployment rising. So far, domestic investors seem to be giving Beijing the benefit of the doubt - foreign funds have been shunning Chinese stocks for a while. Any rise in Japan's paltry yields should, theoretically, be a plus for the yen and a negative for yen-funded carry trades. This in part reflects the still huge gulf between Japan rates and emerging markets and the fact that many carry trades are funded at one month rates and rolled over. Right now, investors can still borrow yen for one month at -0.1% to buy pesos and earn 11.1%.
Persons: Wayne Cole, China's, it's, That's, Austan Goolsbee, Sam Holmes Organizations: Beijing, Nikkei, Bank of Japan, Federal Reserve Bank of Chicago, Western Digital Corp, Aercap, Thomson Locations: Wayne, Beijing, Asia, Pacific, Japan, Chicago
This was “Soul Train,” the music television series that served as Blackness’ binoculars. In the middle of the Black Power era and feeding from the civil rights movement, “Soul Train” provided a fresh opportunity for Black people to see and celebrate themselves. “We wouldn’t have a house party or at a club where we weren’t doing the ‘Soul Train’ line,” she said. “Those were the fits and the looks and the moves where I think ‘Soul Train’ probably had its biggest influence.”Still, Cochrane, a Gen X-er, says that her era of the “Soul Train” — and the “Soul Train” line — moved with the times. “But it was on ‘Soul Train’ that we got to see our favorite artist, hear our beloved songs, get our style trends and language.
Persons: — You’ve, you’d, , Chicago’s, Jackson, Dyana Williams, , Williams, ” Williams, George E, Johnson, Ultra Sheen, Aretha Franklin, Al Green, Sly Stone, Sly, Nelson George’s, Todd Oldham, ” Oldham, It’s, Don Cornelius, Kenneth Gamble, Gamble, Huff, Naima Cochrane, Cochrane, Michael Ochs, Rosie Perez, Patrice Rushen, Fred Berry, Vivica, Cheryl Song, Nobody, ” Cochrane, ” “, ’ ” Williams, Black Television ” Organizations: CNN, TRL, Ultra, Black Power, Michael Ochs Archives, Fox, Black Television Locations: Afro Sheen, America, Washington ,, Philadelphia, Shalamar, American
By 2050, he would like to see 1,000 humans living in the sulfuric acid clouds of Venus. The businessman's latest — and possibly grandest — endeavor is to send 1,000 humans to live in Venus' atmosphere by 2050. Söhnlein hasn't let the recent events dampen his ambition and claims humanity needs to continue pushing the limits of innovation. Sending humans to Earth's evil twinThough it's often called "Earth's twin," Venus doesn't seem like the ideal place for humans to thrive. The Titan submersible.
Persons: Guillermo Söhnlein, Stockton Rush, Söhnlein hasn't, Söhnlein, shouldn't, OceanGate, Rush, Shannon Stapleton, Khalid Al, Ali, Elon Musk, Mark Zuckerberg, we'd, Andrew Coates, Coates Organizations: Service, OceanGate Expeditions, NASA, Anadolu Agency, Getty Images, Venus, Stockton Rush, Reuters, Innovation, Rush, University College's, Science Laboratory Locations: Wall, Silicon, Söhnlein, Stockton
US consumers earning less than $100,000 fueled record profits last year for French luxury group LVMH. These "aspirational" customers are now pulling back on spending as pandemic cash reserves run dry. Important as these shoppers are, don't expect to see huge markdowns from Louis Vuitton and Dior. "The cost of all these initiatives was obviously quite high," Guiony said. Not every luxury brand can pull this strategy off, but it appears LVMH certainly can.
Persons: Louis Vuitton, that's, Christian Dior, Tiffany, LVMH, Jean, Jacques Guiony, Neil Saunders, Saunders, Michael Kors, Guiony, Hitha Herzog, Herzog, Pharrell Williams Organizations: Dior, Service, Louis Locations: Wall, Silicon, Asia, Pont, Paris
Tesla's algorithms misrepresent battery range, Reuters reports. Your Tesla's range estimator might be lying to you. This adjustment was designed to prevent Tesla drivers from getting stranded, the source told Reuters. Tesla wants to cure range anxietyBattery range is one of the most important considerations for EV shoppers, automotive retail experts have said. Musk has made several moves this year to press Tesla beyond a scrappy startup and into a high-volume automotive powerhouse.
Persons: Elon Musk, Tesla, Elon Organizations: Morning, Reuters
During the LVMH earnings call Tuesday, CFO Jean-Jacques Guiony said sales dropped in the U.S. as aspirational consumers no longer spent on entry-level products. LVMH's U.S. sales slid 1% in the second quarter from the prior-year period. LVMH's sales in Europe increased 18% in the second quarter, and Guiony said tourists accounted for nearly half of that growth. Overall, LVMH reported sales rose 17% in the quarter, helped by a 34% increase in Asia excluding Japan. Guiony said that despite signs the broader Chinese economy is slowing, luxury spending there is "strong" after lockdowns were lifted late last year.
Persons: Jean, Jacques Guiony, Richemont, Guiony, LVMH, Tiffany Organizations: Cartier, U.S ., U.S Locations: U.S, Europe, Paris, Rome, London, U.S . China, Asia, Japan, China
Robin Hood tariff could curb airline emissions
  + stars: | 2023-07-24 | by ( Hugo Dixon | ) www.reuters.com   time to read: +7 min
Nevertheless, aircraft are responsible for about 4% of global warming from carbon emissions and the vapour trails they leave behind in the sky. A more viable short-term option is to run planes on sustainable aviation fuels (SAF). The third option is to tax either the kerosene that airlines burn or the emissions they spew out into the atmosphere. So far only the EU, United Kingdom and some smaller countries are doing this via emissions trading schemes (ETS). To work, the plan would need to channel Robin Hood, the legendary English outlaw who stole from the rich to give to the poor.
Persons: Emmanuel Macron, Robin Hood, Peter Thal Larsen, Thomas Shum Organizations: Reuters, Aviation, Reuters Graphics Reuters, SAF, European Union, EU, Transport, FLYERS, International Civil Aviation Organisation, United Nations, ICAO, ETS, Airlines, Council, Clean Transportation, Thomson Locations: TINOS, GREECE, Europe, America, China, Greece, United Kingdom, United States
"Is there going to be a challenge to Royal Enfield? It sold fewer than 30,000 motorcycles - less than the number of bikes Royal Enfield sells each month. Triumph said it has received orders for over 14,000 Speed 400 bikes, exceeding its total India sales of the past decade. Still, the frenzy over the new models is reflected in the surge in Google searches about Harley-Davidson and Triumph in India. Improved financing options is also encouraging lower-income buyers to consider premium bikes, said HDFC Securities analyst Aniket Mhatre.
Persons: Davidson, Rishi Vora, brokerages, Harley, Kotak, Royal Enfield's, Eicher, Royal, Shubhabrata Marmar, Enfield, Varun Painter, MotoCorp, Sathish Rao, Aniket Mhatre, Priyanka Kochhar, Indranil Sarkar, Aby Jose Koilparambil, Nandan Mandayam, Saumya Singh, Navamya Ganesh Acharya, Varun, Dhanya Skariachan, Euan Rocha, Christopher Cushing Organizations: Reuters, Bajaj Auto Ltd, Handout, REUTERS, Royal Enfield, Securities, Harley, Royal, Eicher Motors, Reuters Graphics Reuters, ROYAL, Enfield, Mahindra, Mahindra's, TVS, Bajaj Auto, Bajaj, Triumph, HDFC Securities, Thomson Locations: REUTERS BENGALURU, India, Royal Enfield, Bengaluru
The family behind primary-care company ChenMed is stepping back from their leadership roles. He will bring on an almost entirely new leadership team, effective August 1. "The Chen family remains owners of the ChenMed company, and we will no longer be directing company operations," Chris Chen told staff. As a private company, ChenMed does not disclose its financials. During the meeting Thursday, Chris Chen told staff that the family and leadership team have "decided to keep the ChenMed brands together."
Persons: Steve Nelson, ChenMed, Chen, Nelson, Chris Chen, Steve Nelson ChenMed, Steve, Chris Chen's, Dr, Gordon Chen, James Chen, Mary Chen, Stephanie Chen, Jessica Chen, Shelby Livingston Organizations: Humana Locations: slivingston, insider.com
July 20 (Reuters) - China's frail growth could weigh on companies with exposure to the world's second-largest economy, including Apple (AAPL.O), big chipmakers and luxury retailers as they report quarterly results in the next few weeks. China accounted for 36% of NXP's revenue last year and half of Texas Instruments' revenue. Analysts estimate NXP reporting a 3.2% drop in quarterly revenue, with Texas Instruments' revenue tumbling 16%, which would be its steepest drop since 2009, according to Refinitiv. The specialty glass maker blamed "anticipated recession-level demand" for weak results in its previous quarterly report last April. Coffee maker Starbucks (SBUX.O) in May reported quarterly results that beat estimates, powered by recovering demand in China.
Persons: Ross Mayfield, Baird, Cartier, Richemont, Bernstein, Tesla, Jonathan Golub, hobble, David Klink, Noel Randewich, Chavi Mehta, Caroline Valetkovitch, Mimosa Spencer, David Gaffen, Nick Zieminski Organizations: Apple, U.S, Shanghai, ABB, HK, NXP Semiconductors, Texas, Texas Instruments, . Credit Suisse Chief, Equity, Corning Inc, Samsung Electronics, Huntington Private Bank, Reuters, Thomson Locations: China, U.S, Swiss, Asia, ., China . U.S, Washington, Beijing, Oakland , California, Bangalore, New York, Paris
"The luxury industry seems to be outperforming the consumer market as a whole in China, but you know, really, almost everyone you speak to, there's a level of uncertainty," said Agility's managing director Amrita Banta. "There's a level of not feeling entirely comfortable with their future economic position that is really affecting almost everybody in China." Those factors disproportionately affect "aspirational" luxury customers who can easily live without another Gucci bag or $900 pair of sneakers. In China, luxury consumers are younger than in the rest of the world with an average age of 28, according to BCG - something companies had seen as positive for future growth. "In the trends that I'm seeing in the U.S. and also in China, more aspirational younger consumers are feeling more of a pain," Morningstar senior equity analyst Jelena Sokolova said.
Persons: Richemont, splurge, Morgan Stanley, Hermes, Chanel, Amrita Banta, Dior, Balenciaga, Gucci, Jelena Sokolova, HSBC's Erwan, Rambourg, Casey Hall, Mimosa Spencer, Catherine Evans Organizations: Cartier, Citigroup, Richemont, Citi, LVMH, Bain, Morningstar, Thomson Locations: SHANGHAI, PARIS, China, North America, Wuhan, Zhengzhou, Charlotte, Nashville, Swiss, Americas, Asia, United States, luxury's, U.S, Japan
Wingstop UK is using TikTok, social-media influencers, and rappers to attract Gen Z diners. Wingstop UK has collaborated with brands including including Xbox, Gymshark, and Tinder. Grogan said that Wingstop UK did engage in some paid partnerships, but focused on "curating authentic experiences." Lemon Pepper opened the first Wingstop UK restaurant near London's bustling Leicester Square in 2018. Lemon Pepper HoldingsIn 2022, the chain sold more than 17.5 million wings, Lemon Pepper says.
Persons: It's, , Zers, Tom Grogan, cofounders, Lemon Pepper, TikTok, Yung, Michael Dapaah, Lady Leisha, M, Cat Burns, Grogan, Wingstop, – Grogan, Herman Sahota, Saul Lewin –, Rick Ross, Saul Lewin, Lemon, We're, Gen, it's Organizations: Wingstop, Service, Wingstop's, Sports, Lemon Pepper Holdings, Xbox, JD Sports, Yung Filly, YouTube, KFC, Leicester Square, Hickory, Wings, Lemon Pepper, Sunday Times Locations: Wall, Silicon, Covent, Leicester, Manchester, Liverpool, Glasgow
Greta Gerwig’s ‘Barbie’ Dream Job
  + stars: | 2023-07-11 | by ( Willa Paskin | ) www.nytimes.com   time to read: +3 min
Someone more cynical than Gerwig might have been less moved by Mattel’s corporate epiphany, 60 years into existence, that Barbie could sustain being a size 6, but cynicism is clearly not Gerwig’s way. The movie sidesteps whatever role Barbie might play in perpetuating a narrow, idealized femininity; instead it gives this particular Barbie a crash course in modern misogyny. After decades of fretting about girls’ wanting to be as perfect as Barbie, Gerwig serves up a Barbie struggling to be as resilient as us. This woman is played by the 91-year-old, Oscar-winning costume designer Ann Roth, a friend of Gerwig’s. If I don’t have that scene, I don’t know what it is or what I’ve done.”
Persons: Barbie, , , Gerwig, Ruth Handler, Rhea Perlman, Ariana Greenblatt, Ann Roth, Gerwig’s, , , ” Gerwig Organizations: Mattel Locations: Barbieland, Los Angeles
On Oct. 15, 1991, Clarence Thomas secured his seat on the Supreme Court, a narrow victory after a bruising confirmation fight that left him isolated and disillusioned. Within months, the new justice enjoyed a far-warmer acceptance to a second exclusive club: the Horatio Alger Association of Distinguished Americans, named for the Gilded Age author whose rags-to-riches novels represented an aspirational version of Justice Thomas’s own bootstraps origin story. If Justice Thomas’s life had unfolded as he had envisioned, his Horatio Alger induction might have been a celebration of his triumphs as a prosperous lawyer instead of a judge. So began his grudging path to a judicial career that brought him great prestige but only modest material wealth after decades of financial struggle. When he joined the Horatio Alger Association, Justice Thomas entered a world whose defining ethos of meritocratic success — that anyone can achieve the American dream with hard work, pluck and a little luck — was the embodiment of his own life philosophy, and a foundation of his jurisprudence.
Persons: Clarence Thomas, Horatio Alger, Thomas’s, Justice Thomas, , Organizations: Distinguished, Yale Law School, Horatio, Horatio Alger Association, Justice
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