Levi Strauss $LEVI, the well-known jeans retailer, again cut its full-year sales forecast following poor quarterly earnings results that fell short of Wall Street expectations. The company's shares fell slightly in extended trading as shopping trends at department stores and major retail chains in the U.S. weakened.
Levi's had expected its fiscal third quarter net sales to be...
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ExxonMobil nears deal to buy Pioneer Natural Resources
US oil giant ExxonMobil is just a short distance away from closing a deal to take over Pioneer Natural Resources in a deal worth around USD 60 billion, according to the WSJ.
The vertically integrated oil giant ExxonMobil is expected to close a deal to buy Pioneer Natural Resources in the coming days.
The Wall Street Journal...
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Good news and a nice dip to boot. I'd say the oil price doesn't quite match the stock price of this segment, might not be a bad buy at all.
Investors and analysts say sandal company Birkenstock needs to sell more clogs and boots and boost sales from its own website and boutiques before listing on the New York Stock Exchange next week to attract new customers amid a cost-of-living crisis. Birkenstock is the latest major stock market entry to draw investor attention to the initial public offering (IPO) market, which...
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This is a nice example of how LVMH raises capital for new acquisitions and business development. They will buy the company for $4.8bn in 2021, improve its business performance and then float a minority stake on the stock exchange (total valuation is estimated at $9.2bn).
USA
New claims for unemployment benefits (30 September):
current value: 207k
market expectation: 210k
previous value: 204k / revision: 205k.
Continuing claims for unemployment benefits (Sept 23):
current value: 1664k
market expectation: 1671k
previous value: 1670k / revision: 1665k.
Trade Balance (August):
current value: -58.3 billion
market expectation: -59.8 billion
previous value: -65.0...
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The markets are reacting with a decline, but it is not as bad as the past days. Let's see what happens next, October will hopefully be calmer but I think November will be tense again.
Amazon.com $AMZN used an algorithm code-named "Project Nessie" to test how much it could raise prices so that competitors would follow suit, according to redacted portions of the Federal Trade Commission's monopoly lawsuit against the company.
According to people familiar with the allegations in the complaint, the algorithm helped Amazon increase profits on items across shopping...
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Labour market in the USA
This week's most closely watched macroeconomic indicators will be the labour market in the United States. According to Bloomberg, it is expected to cool down slowly, especially after the end of Taylor Swift and Beyonce's summer concerts. The agency expects that the ratio of newly opened positions to the number of unemployed people should fall to 1.4....
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It's really unreal that these gigs need so many people who will now be looking for work. But it didn't occur to me that it would affect the overall unemployment numbers.
A major milestone awaits RENK, a company known for its production of high-quality components for military vehicles, fighter jets and the automotive industry. On 5 October 2023, RENK will take centre stage when it goes public on the German stock exchange in Frankfurt. This IPO promises to become the largest in the German financial world this year and strengthen RENK's position...
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Thanks for the summary. I don't invest in Europe, but I welcome the expansion of the market with another company.
British-American cruise company Carnival Corp. has released its third quarter 2023 financial results.
Results
Carnival Corp.'s revenue grew 59% year-over-year.
Adjusted EBITDA reached USD 2.22 billion against analyst estimates of USD 2.1 billion.
The company carried 3.6 million passengers in the third quarter, up 40% year-on-year. Analysts had expected 3.78 million passengers.
Carni...
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While the results are above estimates, it didn't help the price much. I don't know what would have to happen for $CCL to rise again...
This week marks the end of second quarter results and the slow arrival of third quarter 2023 results. Among the US companies reporting will be food company McCormick & Co and beer, wine and spirits producer Constellation Brands. In Europe, for example, retail chain Tesco.
An overview of selected companies reporting their results this week (source: Twitter Earnings Whispers)
Tuesd...
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MillerKnoll, an American manufacturer of office and home furnishings, has released its financial results for the first quarter of fiscal year 2024.
Results
MillerKnoll's revenue decreased by 15% year-on-year. Organic sales declined 6.9%.
Gross margin increased to 39% from 34.5%, first quarter last year. Analysts had expected 37%.
Adjusted EBITDA was EUR 83.9 million. USD.
Outlook
The...
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The stock has rallied nicely, but today it is pulling back the gains it made in yesterday's session. The bounce is nice though and could easily be something bigger.
The market for initial public offerings has been surprisingly normal over the past two weeks, at least on the surface.
British chipmaker Arm Holdings, food delivery company Instacart and Klaviyo represented a chance to revive an IPO market that has long been in tatters. But the results have not been convincing.
Arm, Instacart and Klaviyo priced their offerings at or above recent...
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ARM is down over 20% from the peak so far, but I think it will still be quite volatile. We still don't have much data on the chart and investors are more likely to wait for further developments. For me, $40 is a realistic place to look.
Dividend stocks are a multi-purpose instrument of the markets. They offer investors a dual route to profitable returns, including some defence against challenging market conditions along with a stable source of passive income. This is an attractive combination.
The best dividend stocks will provide inflation-beating income based solely on the dividend and backed by a long-term...
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$ARCC has a pretty nice chart. It has been +- holding its value for the last 2 years, but paying a dividend. If the stock grows, it would be a nice appreciation.
This week's macroeconomic indicators include the CNB's repo rate decision, Czech, German and US GDP, and German and eurozone inflation.
CNB board meeting on Wednesday and GDP on Friday
Before Thursday's public holiday, the domestic central bank will hold a monetary policy meeting of its board, after which a possible change in the repo rate will be announced. The market expects...
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FactSet $FDS, which operates a digital platform and software for analyzing economic and financial data, reported its results for the 4Q fiscal year 2023, which ended August 31, 2023, at yesterday's after-market close. On an adjusted earnings per share basis for the 4Q, FactSet missed the average analyst estimate. The outlook for the upcoming year is also below analyst consensus...
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I don't know the company, but the chart doesn't look bad at all over the period. Thanks for the tip :D
US logistics and delivery company FedEx $FDX has released its quarterly results. Investors were pleased with the year-on-year growth in operating profit, which rose mainly due to lower fuel costs.
Financial results
The company generated revenue of $21.681 billion in 1Q fiscal 2024. This is a year-on-year decrease of 7%. The company's revenue is contributed by 3 segments, namely...
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I don't know this company very well. However, I will check it out and if the stock drops significantly, I would probably buy a little bit.
I didn't even get a chance to look at it, so thanks for the summary.