4.36k followers • 11 symbols Watchlist by Yahoo Finance
This basket consists of stocks gaining popularity from health and wellness.
Lululemon Athletica Inc.
Under Armour, Inc.
Herbalife Nutrition Ltd.
Foot Locker, Inc.
DICK'S Sporting Goods, Inc.
GNC Holdings, Inc.
The world’s largest retailer’s third quarter results on Thursday showed that yet again, CEO Doug McMillon continues to pull almost all the right strings operationally.
U.S. prosecutors criminally charged two former executives of Herbalife Nutrition Ltd's Chinese unit with running a decade-long scheme to bribe Chinese government officials to win business and evade regulatory scrutiny, a person familiar with the matter said. Herbalife was not criminally charged, and the multi-level marketing company was not identified by name in Thursday's indictment against Yanliang Li, also known as Jerry Li, and Hongwei Yang, also known as Mary Yang. The person familiar said Herbalife was their employer.
Foot Locker's (FL) third-quarter fiscal 2019 results are expected to reflect benefits from focus on digital business, supply-chain efficiency and international expansion.
Shoe Carnival's (SCVL) Q3 performance is likely to have gained from comps growth, backed by solid assortments and other efforts to boost store footfall.
Smucker's (SJM) Q2 results are likely to have been hurt by the U.S. baking business divestiture. However, the Ainsworth buyout is likely to have had a positive impact.
The Dow is firmly in the positive territory with a gain of 19.1% year to date. This is an excellent performance after a disappointing 2018, when the index lost nearly 6%.
Particularly weak economic data weighed on the risk appetite early on, with a busy day of stats likely to test the markets further in the day.
Lawmakers pressed top U.S. antitrust enforcers on their probes of tech giants Alphabet's Google , Facebook , Amazon and Apple on Wednesday, with the chair of a House subcommittee expressing frustration over the companies' continued acquisitions. In a hearing of the House Judiciary Committee's antitrust subcommittee, Makan Delrahim, the head of the Justice Department's antitrust division, said his investigative staff was focused on understanding how personalized advertising transactions work.
(Bloomberg) -- U.S. antitrust enforcers should stop Google’s proposed acquisition of Fitbit Inc. because the deal will further consolidate the search giant’s control over consumer data, a coalition of privacy and consumer advocates said.The $2.1 billion takeover would allow Google to entrench its monopoly power in the digital marketplace, the groups said Wednesday in a letter to the Federal Trade Commission.“Through its vast portfolio of internet services, Google knows more about us than any other company, and it should not be allowed to add yet another way to track our every move,” they said.Alphabet Inc.’s Google is a leader in digital data, and Fitbit would give it a new stream of valuable health and activity data from Fitbit’s more than 28 million users. The purchase will mean Apple Inc. and Google control more than half of the global smartwatch market. Apple had 46% of this growing sector at the end of the second quarter, while Fitbit had 10%, according to research firm Strategy Analytics.A Google spokesman didn’t immediately respond to an email seeking comment about the letter to the FTC, which was signed by Open Markets Institute, the Center for Digital Democracy, Consumer Federation of America, and the Electronic Privacy Information Center, among others.A spokeswoman for the FTC didn’t immediately respond to a phone call and an email seeking comment.The deal is likely to face a stringent antitrust review. Google and other big internet companies are already under scrutiny at both the FTC and the Justice Department. A group of state attorneys general is also investigating whether Google’s business practices harm competition. Both Republicans and Democrats also have been strongly critical of practices by big technology and internet companies.Google is separately under scrutiny by the U.S. Department of Health and Human Services over its access to personal health data as part of a project to build a new internal search tool for the Ascension hospital network.\--With assistance from Ben Brody.To contact the reporter on this story: David McLaughlin in Washington at firstname.lastname@example.orgTo contact the editors responsible for this story: Sara Forden at email@example.com, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
It has been a very quiet Wednesday session. The Canadian dollar and British pound are flat, and EUR/GBP is also trading sideways. Stronger inflation numbers in the U.S. failed to cause any reaction in the curency markets.
Dick's (DKS) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.
(Bloomberg) -- Nike Inc. is breaking up with Amazon.com Inc.The athletic brand will stop selling its sneakers and apparel directly on Amazon’s website, ending a pilot program that began in 2017.The split comes amid a massive overhaul of Nike’s retail strategy. It also follows the hiring of ex-EBay Inc. Chief Executive Officer John Donahoe as its next CEO -- a move that signaled the company is going even more aggressively after e-commerce sales, apparently without Amazon’s help.“As part of Nike’s focus on elevating consumer experiences through more direct, personal relationships, we have made the decision to complete our current pilot with Amazon Retail,” the company said in a statement. “We will continue to invest in strong, distinctive partnerships for Nike with other retailers and platforms to seamlessly serve our consumers globally.”Some big brands shun Amazon’s platform, where fakes flourish and unauthorized sellers undercut prices -- a recipe that diminishes the value of sought-after labels. The unraveling of the Nike arrangement threatens to reinforce retailers’ unease. Under the pilot program, Nike acted as a wholesaler to Amazon, rather than just letting third-party merchants hawk its products on the site.Amazon operates an online marketplace, essentially a digital mall where merchants can sell products. More than half of all goods sold on Amazon come from independent merchants who pay the Seattle-based company a commission on each sale. Amazon also operates as a traditional retailer, buying goods from wholesalers and selling them to customers.Nike said it will continue to use Amazon’s cloud-computing unit, Amazon Web Services, to power its apps and Nike.com services.Amazon, through a spokeswoman, declined to comment. The company has been preparing for the move, according to two people familiar with the matter. It has been recruiting third-party sellers with Nike products so that the merchandise is still widely available on the site, they said. Amazon has also been working to stem the flow of counterfeits on the site through various initiatives, including one project that lets brands put unique codes on their products to make it easier to identify fakes.Nike shares rose as much as 1.4% in New York trading Wednesday, while Amazon was off as much as 0.6%.‘Enormous Reach’The question now is whether other Amazon partners follow Nike’s lead. Few other brands possess the kind of muscle Nike has, so it may be harder for them to leave.“Nike has enormous reach and its products are in demand, so it can afford to be selective about where its products are distributed because customers will come find Nike where it is offered,” said Neil Saunders, an analyst at GlobalData Retail. “I don’t think as many brands can be as selective as Nike.”For years, the only Nike products sold on Amazon were gray-market items -- and counterfeits -- sold by others. Nike had little control over how they were listed, what information about the product was available and whether the products were even real.That changed in 2017, when Nike joined Amazon’s brand registry program. Executives hoped the move would give them more control over Nike goods sold on the e-commerce site, more data on their customers and added power to remove fake Nike listings. The news of the Amazon tie-up, which Nike executives called a “small pilot,” sent shoe-retailer stocks tumbling and left many wondering if other major Amazon holdouts would quickly follow.But Nike reportedly struggled to control the Amazon marketplace. Third-party sellers whose listings were removed simply popped up under a different name. Plus, the official Nike products had fewer reviews, and therefore received worse positioning on the site.Leaving Amazon won’t necessarily solve Nike’s problems, which represent a big brand struggling to adapt to selling products in the digital age, said James Thomson, a former Amazon employee who now helps brands sell products online through Buy Box Experts.“Just because Nike walks away from Amazon doesn’t mean its products walk away from Amazon and doesn’t mean its brand problems disappear,” Thomson said. “Even if every single Nike product isn’t on Amazon, there will be enough of a selection that someone looking for Nike on Amazon will find something to buy.”Fewer PartnersShortly after its Amazon pilot began, Nike unveiled plans to overhaul its retail strategy. With more attention aimed at direct-to-consumer avenues, particularly the Nike app and Nike.com, executives said the company would drastically reduce the number of retailers it partnered with.In 2017, Nike did business with 30,000 retailers around the world. Elliott Hill, currently the company’s head of consumer and marketplace operations, told investors that year that Nike would focus its future efforts primarily on about 40 partners.Nike wasn’t specific on what would separate those 40 partners from what it called “undifferentiated retail.” Reading between the lines, it appeared to want partners that gave its Nike brand separate space -- such as Nordstrom Inc.’s “Nordstrom x Nike” shop on its website -- and was less interested in retailers that just placed Nike alongside its smaller competitors.The Wall Street Journal reported at the time that Amazon was one of those 40 that Nike intended to prioritize.Analysts said physical sporting-goods retailers would benefit from Nike’s departure from Amazon. The pilot program was an “overhang” to the stock valuation of Foot Locker Inc. that’s now removed, Raymond James analyst Matthew McClintock wrote in a note. Michael Baker of Nomura Instinet called Nike’s decision a modest positive for Dick’s Sporting Goods Inc.Foot Locker was down 0.4% at 9:51 a.m. Wednesday in New York trading, while Dick’s was up 0.6%.What Bloomberg Intelligence Says“Nike’s decision to end its wholesale pilot with Amazon.com is likely aimed at putting more focus on its own direct-to-consumer business, which is a key pillar of its Triple Double strategy. We still believe Nike’s goal for 33% of sales to be digital could be attained ahead of 2022.”\--Poonam Goyal, senior retail analystClick here to read the research.About 68% of Nike’s annual sales come from wholesale channels, down from 81% in 2013. Though wholesale is still the bulk of the company’s sales, in that span Nike’s direct business has grown three times faster than top-line revenue.Nike’s departure will rob Amazon’s brand registry program of a big name -- and potentially stoke the concerns of its partners. Nike’s participation had signaled that Amazon was taking the concerns of major brands seriously.Such brands have expressed frustration that Amazon doesn’t do enough to fight counterfeits. They also fear that giving Amazon too much control over prices will devalue their products.Amazon’s foray into private-label products has added to the fears. The company now sells everything from batteries to mattresses to snacks, further complicating the relationship between Amazon and brands.(Updates with shares in ninth paragraph, analyst comments in 21st paragraph.)\--With assistance from Robert Williams.To contact the reporters on this story: Eben Novy-Williams in New York at firstname.lastname@example.org;Spencer Soper in Seattle at email@example.comTo contact the editors responsible for this story: Nick Turner at firstname.lastname@example.org, ;Jillian Ward at email@example.com, John J. Edwards III, Cécile DauratFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Investing.com – Stocks were rising modestly Wednesday on gains for Walt Disney (NYSE:DIS) and Federal Reserve Chairman Jerome Powell's assertion that the central bank can leave interest rates alone for a while. But concerns about the China-U.S. trade dispute was keeping gains in check.