An Abercrombie & Fitch store in the Soho neighborhood of New York, US, on Monday, Aug. 19, 2024. Abercrombie & Fitch Co. is scheduled to release earnings figures on August 28.Yuki Iwamura | Bloomberg | Getty ImagesAbercrombie & Fitch’s revenue grew 21% during its fiscal second quarter as the apparel company builds on its torrid growth. The sales gain, which follows 16% growth in the year-ago period, led the company to issue bullish guidance for the current quarter. Still, its full-year outlook was largely in line with estimates as it prepares for one fewer week this year than last. CEO Fran Horowitz…
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(This is CNBC Pro’s live coverage of Thursday’s analyst calls and Wall Street chatter. Please refresh every 20-30 minutes to view the latest posts.) A fast-casual food chain and a video game maker were among the stocks being talked about by analysts on Thursday. Morgan Stanley lowered its rating on Cava to equal weight, citing valuation concerns. Meanwhile, Redburn Atlantic initiated Take-Two Interactive with a buy rating. Elsewhere, Citi named Apple its top artificial intelligence pick. Check out the latest calls and chatter below. All times ET. 7:45 a.m.: JPMorgan downgrades Kohl’s to underweight Kohl’s reported net income growth and…
ShareShare Article via FacebookShare Article via TwitterShare Article via LinkedInShare Article via EmailFast MoneyPrimetime Partners’ Alan Patricof and Abby Levy joins ‘Fast Money’ to talk investing in aging and longevity.09:37Wed, Aug 21 20246:41 PM EDT Source link
People hold signs as they attend a press conference at City Hall Park on April 10, 2023 in New York City.Michael M. Santiago | Getty ImagesAs we enter an election year, Americans’ perceptions of economic health matter more than ever. Small business owners are often seen as a bellwether given how acutely they feel changes in policy, and understanding their concerns around inflation and the cost of doing business can shine a light on how voters will respond in November. Many states and cities have recently raised or are in the process of raising their minimum wage, with some setting higher…
A salaryman takes a nap in the public grounds of the Imperial Palace.Stuart Freedman | Corbis Historical | Getty ImagesJapan, a nation so hardworking its language has a term for literally working oneself to death, is trying to address a worrisome labor shortage by coaxing more people and companies to adopt four-day workweeks.The Japanese government first expressed support for a shorter working week in 2021, after lawmakers endorsed the idea. The concept has been slow to catch on, however; about 8% of companies in Japan allow employees to take three or more days off per week, while 7% give their workers the legally mandated one…
Former President Donald Trump has added his onetime campaign rival Robert F. Kennedy Jr. and former Democratic Rep. Tulsi Gabbard to his presidential transition team, a spokesman confirmed Tuesday.Both Kennedy and Gabbard endorsed Trump in the past week in his race against Vice President Kamala Harris, the Democratic presidential nominee.”As President Trump’s broad coalition of supporters and endorsers expands across partisan lines, we are proud that Robert F. Kennedy Jr. and Tulsi Gabbard have been added to the Trump/Vance Transition team,” Trump campaign senior advisor Brian Hughes said in a statement to CNBC.”We look forward to having their powerful voices on the team as…
As Vladislav Klyushin’s cybersecurity scam grew, collecting more than $93 million in less than three years, the FBI’s investigation was closing in on unraveling his scheme.Klyushin had become incredibly rich through his ownership of Moscow-based cybersecurity firm M-13, which was a front for his real business: stealing corporate earnings reports before they were released and trading based on that information. The cybersecurity scam targeted well-known American companies like Skechers, Snapchat and Roku.The FBI and U.S. prosecutors had enough evidence to put him away – but they also had one significant roadblock: as a Russian citizen living in Russia, there was…
North Korea will resume international tourism this winter, ending a COVID-era ban on travelers, according to operators that organize tours to the country.The North Korea-focused travel companies KTG and Koryo Tours said on Wednesday that their local partners in the country had informed them about government plans to allow trips to some locations. The companies added that foreign tourists will be permitted to the North Korean city of Samjiyon by December, while other areas of the country could potentially become accessible.”Having waited for over 4 years to make this announcement, Koryo Tours is very excited for the opening of North Korean…
Elon Musk announced his new company xAI which he says has the goal to understand the true nature of the universe. Jaap Arriens | Nurphoto | Getty ImagesElon Musk’s artificial intelligence startup, xAI, is being accused by environmental and health advocates of adding to the pollution problem in Memphis, Tennessee, by using natural gas burning turbines at its new data center, and doing so without a permit.The company said it was opening the data center in June in a former Electrolux factory, shortly after announcing it had raised $6 billion at a $24 billion valuation. In a post on X last…
A general view is showing a shopping mall in Hong Kong, on Aug. 1, 2024.Vernon Yuen | NurPhoto | Getty ImagesHong Kong’s July retail sales fell 11.8% from a year earlier, government data showed on Friday, reflecting the continued impact of the change in consumption patterns.Sales decreased to 29.1 billion Hong Kong dollars ($3.73 billion), the fifth consecutive monthly decline, following a 9.7% drop in June, a 11.5% slump in May, a 14.7% drop in April and a 7% fall in March.A government spokesman said the decline in the value of total retail sales was due to the continued impact of…
