Turtle Beach upgraded to Outperform from Neutral at Wedbush 06:55 HEAR Wedbush analyst Michael… Phillips 66 price target raised to $112 from $102 at JPMorgan 06:53 PSX JPMorgan analyst Phil Abbott price target lowered to $125 from $154 at Citi 06:24 ABT Citi analyst Joanne Wuensch lowered the firm's price target on Abbott to $125 from $154 and keeps a Buy rating on the shares. Market multiples are contracting due to higher inflation, slowing growth, and rising interest rates, Wuensch tells investors in a research note. What we don't know yet is how far the derating will go and where does medical technology shake out, balancing an elective procedure recovery with macro headwinds, says the analyst. "When is the right time to catch a falling knife? If recent history is any suggestion, the answer could be 'soon,'" writes Wuensch.
Global stock markets rally as China jitters ease. 06:25 $ECON Global stock markets rally as China jitters ease. There were signs that China's latest virus wave may have peaked, which revived hope of stronger growth ahead and lifted risk appetite. Tech stocks outperformed and as investors took advantage of cheaper valuations and the NASDAQ future is up more than 2% at the moment. In Europe, DAX and FTSE 100 are posting gains of 1.6% and 0.9% respectively, with hawkish BoE comments and a stronger pound accounting for much of the FTSE's underperformance. Across Asia, the Hang Seng outperformed and rallied 3.3% as tech stocks rebounded. The CSI 300 jumped 1.3%, while Nikkei and ASX managed gains of 0.4% and 0.3% respectively.
GBA GETTING LOTS OF GOOD PUB TODAY! ROBIN HOOD HAS NOTICED! WE HAVE ARRIVED-! Stick twits are twittering! AND WE HAVE ARRIVED... In PORTUGAL SECRETE BEAch== I have been here folks....
up 4% Jumia Technologies AG reports Q1 results May 17, 2022 6:49 AM ET Jumia Technologies AG (JMIA) Jumia Technologies AG press release (NYSE:JMIA): Q1 Adjusted EBITD loss of $55.3M. Revenue of $47.6M (+44.2% Y/Y) misses by $2.81M. Shares +1.3% PM. Orders reached 9.3M, up 40% Y/Y. Quarterly Active Consumers reached 3.1M, up 29% Y/Y. GMV reached $252.7M, up 27% Y/Y. "We remain focused on taking the business forward on our path to profitability, driving faster usage growth with improved levels of marketing efficiency. Sales & Advertising expense per Order and as % of GMV decreased sequentially, both reaching their lowest levels in the past 4 quarters, at $2.0 per Order and 7.5% of GMV respectively. We are executing on our strategy with discipline and consistency. Our focus continues to be on making Jumia a compelling destination for the everyday needs of African consumers and a growth engine for sellers and businesses in Africa and beyond."
Apparel resale market forecast is forecast to boom in next few years May 17, 2022 6:58 AM ETThredUp Inc. (TDUP)FTCH, RENT, REAL, POSH, SFIX ThredUP (NASDAQ:TDUP) released the results of the 2022 Resale Report conducted by third-party retail analytics firm GlobalData. The study forecast that the U.S. secondhand market is expected to more than double by 2026 to reaching $82 billion. The global secondhand apparel market is seen growing by 127% by 2026, which is a rate 3X faster than the global apparel market overall. Resale is expected to grow 16X faster than the broader retail clothing sector by 2026. Technology and online marketplaces are said to be driving the growth of the U.S. secondhand market. Online resale is the fastest-growing sector of secondhand and is expected to grow nearly 4X by 2026. About 50% of total secondhand dollars are expected to come from online resale by 2024. In a survey of consumers, 70% of respondents said it is easier to shop secondhand now than it was 5 years ago. Looking at the inflationary environment, 58% of consumers indicate secondhand has helped them in some way during a time of inflation and 80% of consumers are buying the same or more secondhand apparel items. 41% of consumers said when they shop for apparel, secondhand is the first place they look. "Resale has emerged from the pandemic in an extremely strong position. More consumers are shopping secondhand, growth has accelerated, and the interest from traditional retailers has soared," noted GlobalData Managing Director Neil Saunders. Related stocks: Farfetch (FTCH), Rent the Runway (RENT), The RealReal (REAL), Poshmark (POSH), and Stitch Fix (SFIX).
The U.S. FDA early Monday evening issued guidance that will allow international manufacturers of baby formula to export their product to the U.S. The agency said it has now put "flexibilities" in place to allow this to happen in the face of a nationwide shortage of formula. In addition, the FDA said it would not object if domestic manufacturers were to distribute product that was made for export. "The agency intends to prioritize submissions for products that can demonstrate the safety and nutritional adequacy and have the largest volume of product available and/or those who can get product onto U.S. shelves the quickest," the FDA said, adding it is already in discussions with some companies. On May 12, President Biden met with officials from the country's four largest formula manufacturers, Abbott (NYSE:ABT), Reckitt Benckiser (OTCPK:RBGPF) (OTCPK:RBGLY), Perrigo (NYSE:PRGO), and Gerber Products of Nestle (OTCPK:NSRGY) (OTCPK:NSRGF) to address the ongoing issue.
Jana Partners invests in LivePerson, Macy's in Q1, adds to Encompass Health May 16, 2022 6:09 PM ETLivePerson, Inc. (LPSN), M, EHC, LH Jana Partners, founded in 2001 by billionaire hedge fund manager Barry Rosenstein, has invested in commerce platform LivePerson (NASDAQ:LPSN) (455.4M shares) as well as retailer Macy's (NYSE:M) (760.8M shares) during the first quarter, according to a 13F filing dated Monday. The activist hedge fund also increased its holdings in Encompass Health (NYSE:EHC) to 2.9M shares from 2.83M and Laboratory Corp. of America (NYSE:LH) to 461.8M from 452.23M. LPSN<----------
Electricity is just a fad So said Junius Morgan to his son J.P. Morgan. J.P. had hired Thomas Edison to wire up his mansion, making it the first private residence in New York to have electric lighting. Luckily for his bank account, J.P. Morgan didn’t listen to dad, and invested heavily in Edison, eventually financing General Electric.
B>R>E>A>K>I>N>G NEWS! Folks I am not sure I CAn't read this but i think this may be the evacuation of the proud fighters at the steel plant!!! I have been thinking about these guys every night--- Books will be written about their bravery! Glory To Ukraine!