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Here are three highly-ranked REITs we found using our Zacks Stock Screener that dividend investors might want to buy with stock indexes at new highs...
The latest U.S.-China trade war setback. Walmart's blowout quarterly earnings and early Disney+ success. Other quarterly results. And why Douglas Dynamics (PLOW) is a Zacks Rank 1 (Strong Buy) stock at the moment...
The Zacks Analyst Blog Highlights: AMETEK, Thermo Fisher Scientific, IQVIA, Lowe's Companies and Alexion Pharmaceuticals
Urban Outfitters (URBN) has been witnessing dismal margins of late owing to higher markdowns in a bid to combat soft demand. This is likely to show on third-quarter fiscal 2020 bottom line.
(Bloomberg Opinion) -- For a company that is so good at so many things, Amazon is remarkably bad at politics.Exhibit A is the latest debacle in its hometown of Seattle, where the company’s push to seat a more politically moderate city council backfired. Campaign cash aimed at producing a less tax-happy council triggered the opposite result and turned a socialist headed for defeat into a martyr.Amazon has never been known for subtlety. The $1.45 million it spread around in political contributions to City Council candidates not only set a record, but also changed the trajectory of the election. Polls showed that voters who were poised to replace some leftist council members changed course. After Amazon’s donations became public, they elected five of seven candidates opposed by a business coalition. One of them was Councilmember Kshama Sawant of the Socialist Alternative party, who declared her come-from-behind re-election victory in front of a giant red sign that declared, “Tax Amazon.” Which the newly Amazon-unfriendly council almost certainly will do.Amazon employs 54,000 people in Seattle and owns or occupies 47 buildings there. That’s made the city seem like the biggest company town in the U.S., and has probably blinded Amazon’s leaders to the angst and tumult they’ve unleashed in a place that’s become both more prosperous and less livable.Sawant, who managed less than 40% of the vote in the August primary, went so far as to call Jeff Bezos, Amazon’s founder and chief executive, “our enemy,” and described her victory as a win for working people against the world’s richest man.“Amazon overplayed their hand,” said Egan Orion, the candidate who lost to Sawant. “I wasn’t able to make my closing arguments. There was so much noise.”Once Amazon donated in such a big way, the race became nationalized. Senators Elizabeth Warren and Bernie Sanders, the presidential candidates vying for the hearts of the Democratic Party’s left flank, chimed in via Twitter to trash the Amazon contributions.Here’s what Warren had to say:Here’s Sanders:Another winner, Tammy Morales, favors a bevy of local tax options to raise money for homeless services, housing and other needs. Her list includes revisiting an employee head tax similar to one Amazon successfully fought in 2018, plus a local estate tax and a tax on high salaries dubbed an “excess compensation tax.”Amazon has been trying to fine-tune its relationship with Seattle for years, and concern about relations with the City Council was among the reasons it announced in 2017 that it was looking for a second headquarters location — another endeavor that showcased the company’s limited political skills.That contest blew up in New York City when politicians and others protested the size of an Amazon enticement package — up to $3 billion in tax breaks and other incentives.In Seattle, Amazon had mostly maintained a quiet political presence until May 2018, when the City Council passed the Amazon Tax on larger companies, a head tax of $275 per employee.Amazon promptly announced that it would stop construction on one of its new buildings if the tax were imposed.The council then hastily repealed it when polls showed it could harm the council at the next election — the contest that ended so disastrously for the company this month.Starbucks, also headquartered in Seattle, took a different approach, donating a much smaller sum to the business campaign. A Starbucks executive also sent a letter to employees urging a vote for unspecified “change” and invited the public to have a cup of coffee. This was a subtle, defter move, in part because it was hard to tell exactly what the company was saying.At this juncture, perhaps after apologizing or remaining quiet a while, Amazon has a few choices. It could face probable new taxes gamely or think along the lines of Apple, which recently announced a $2.5 billion plan to ease the housing shortages and affordability crisis in California. Or take a page from Microsoft, the tech giant across Lake Washington from Amazon, which last winter offered a well received $500 million investment in affordable housing and homelessness relief across the region.To be fair, Amazon has invested in a homeless shelter in Seattle for families, Mary’s Place, which will eventually occupy eight floors in one of the new Amazon buildings. Mary’s Place does great work. But that answer to the enormous problem of homelessness and housing affordability now seems a trifle. The overall contribution to challenges facing the city is too small to those who believe Amazon needs to step up and invest in ways commensurate with its size and impact.To contact the author of this story: Joni Balter at firstname.lastname@example.orgTo contact the editor responsible for this story: Jonathan Landman at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Joni Balter is a longtime Seattle columnist and writer who contributes to local NPR and PBS affiliates.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
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.
(Bloomberg) -- Explore what’s moving the global economy in the new season of the Stephanomics podcast. Subscribe via Apple Podcast, Spotify or Pocket Cast.Australia’s unemployment rate increased and the economy shed jobs for the first time in 17 months, a surprise result adding to evidence that central bank interest-rate cuts are failing to gain much traction.The jobless rate advanced to 5.3% in October from 5.2%, data from the statistics bureau showed Thursday; economists had expected it to hold at 5.2%. Highlighting labor market slack, the under-utilization rate, which combines unemployment and under-employment, rose 0.3 point to 13.8%.The currency declined and money markets boosted bets on a rate cut in February as the jobless rate exceeded 5.2%, where the Reserve Bank had predicted it to remain through next year. Almost out of conventional policy ammunition to galvanize the economy, RBA Governor Philip Lowe may need to lean on a depreciating currency to bolster exporters and lift inflation.“Australia’s latest labor force figures make another rate cut a certainty,” said Callam Pickering, an economist at global jobs website Indeed Inc., who previously worked at the central bank. “To kick-start the economy we will need greater stimulus. Much more needs to be done, whether it be through further rate cuts, unconventional monetary policy or, in an ideal world, fiscal stimulus.”Unorthodox PoliciesTo date, the government has resisted Lowe’s calls for fiscal support, fueling speculation the central bank will have to turn to unorthodox policies next year. The governor is due to speak on the subject later this month.The data showed New South Wales, the most populous state, led unemployment higher, with its rate rising to 4.8% in October from 4.5% a month earlier. Victoria, the next biggest, edged up to 4.8% versus 4.7%. The northern state of Queensland led job losses, shedding 14,000 positions, with NSW losing 10,300.The RBA has cut rates three times since June seeking to boost hiring and investment, but so far the easing has shown little impact apart from the housing market. The decision to resume cutting aimed in part to prevent the Aussie dollar from rebounding in response to renewed easing by the Federal Reserve.The U.S. central bank has now signaled it’s on hold after cutting 75 basis points -- the same as the RBA -- and Lowe left rates unchanged last week.The Aussie dollar slipped to 68.01 U.S. cents at 1:48 p.m. in Sydney, from around 68.38 before the data. It has depreciated more than 16% since early last year.The central bank, in its quarterly Statement on Monetary Policy released Friday, forecast unemployment to hold around 5.2% through the end of 2020 and for wage growth to remain at 2.3% through 2021. This suggests an acceptance that its strategy of trying to push the jobless rate down to 4.5% -- estimated full employment -- to spark wage growth and return inflation to the 2%-3% target is unlikely to achieve its goals for a while yet.Data Wednesday showed annual wage growth of 2.2% in the three months through SeptemberWhat Bloomberg’s Economists Say:“The RBA’s November SMP forecasts have been tested twice in the first week after publication. Sluggish 3Q 2019 wage growth means a pickup will be needed to reach the RBA’s already downgraded wage forecasts. And momentum in jobs growth now looks to be softening at a faster pace than the RBA’s employment outlook has anticipated.”James McIntyre, economistStill, Australia’s labor market has remained remarkably resilient over the past 12 months. Hiring has held up even as the economy decelerated sharply, expanding at an annual 1.4% rate in the most recent reading, about half its estimated speed limit.Even then, the strong employment failed to translate into a lower jobless rate, as new positions were filled by new entrants to the labor market.The RBA is betting that a combination of rate cuts and government tax rebates will eventually encourage consumers to spend and keep the economy ticking. Rising house prices and the associated wealth effect are expected to help that cause.(Updates with further fall in currency in ninth paragraph.)\--With assistance from Tomoko Sato and Garfield Reynolds.To contact the reporter on this story: Michael Heath in Sydney at firstname.lastname@example.orgTo contact the editors responsible for this story: Nasreen Seria at email@example.com, Malcolm Scott, Michael S. ArnoldFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
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.
(Bloomberg) -- Luckin Coffee Inc., the chain that’s trying to overtake Starbucks Corp. in China, gave investors a jolt of optimism as it reported better-than-expected revenue and said it aims to break even next year.The Xiamen, China-based company, in its second set of quarterly results since going public in May, reported revenue of 1.54 billion yuan ($219.6 million) for the September quarter. That’s more than six times the year-earlier level, and tops the 1.47 billion yuan average of analysts’ estimates. Luckin’s net loss widened to 531.9 million yuan from 484.9 million yuan a year earlier.Luckin’s latest results provided some comfort to investors who have been looking for progress in the company’s financial position. The shares climbed 13% in New York to $21.46 each.The stock had dropped almost 30% from a July peak as the Chinese startup faced questions over its strategy of burning millions of dollars to lure customers with discounts. Other startups including Uber Technologies Inc. and WeWork Cos. have also come under scrutiny for spending heavily to chase blazing growth at the cost of profits.Luckin’s restaurants are now profitable, and the company is on track to break even at the corporate level in the third quarter of next year, Chief Financial Officer Reinout Schakel said in an interview.“We expect to take over Starbucks as the No. 1 coffee player in China by the end of this year in number of stores,” Schakel said. “We have a very strong brand.”China is becoming an important market for coffee retailers as the traditionally tea-drinking nation develops a taste for java. While weaker consumer spending amid a trade war and slowing economy may present a challenge, the company could benefit from its lower prices. The chain is very focused on its per-cup cost and affordability, Schakel said.“We give a very clear message to our consumer around our value,” Schakel said. Luckin targets white-collar, middle-class office workers, who are a “resilient consumer,” he said.Luckin claimed only 2.1% of the coffee market in China last year but wants to bolster that by opening more stores in two years than the industry giant has done in 20 years. Starbucks, meanwhile, with more than a 50% market share in the Asian nation, is also planning to continue its rapid expansion by opening one store every 15 hours.(Recasts first paragraph, updates stock move.)To contact the reporters on this story: Bhuma Shrivastava in Mumbai at firstname.lastname@example.org;Leslie Patton in Chicago at email@example.comTo contact the editors responsible for this story: Rachel Chang at firstname.lastname@example.org, Jeff Sutherland, Lisa WolfsonFor 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.
Lowe's (LOW) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Lowe's (LOW) third-quarter fiscal 2019 results are expected to reflect strength in the Pro business and gains from other sales growth initiatives. Soft margins might have been a drag.
The RBNZ held rates steady, leading to a surge in the Kiwi, while the Greenback was under early pressure following Trump’s Tuesday speech…
Home Depot stock is up more than 22% in the past six months to easily outpace its industry's 6% average climb and the S&P 500's 10% expansion. So is it time to buy HD before its Q3 earnings release?