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2 Articles
Source: Common Domain

Blue Apron Is Now a Penny Stock and It’s a Cautionary Tale for Next Year’s IPO Market

Today 13:35 GMT

Blue Apron’s (APRN) public experience gives investors something to contemplate as they look forward to a 2019 IPO lineup that could include big names like Uber, Lyft, Airbnb and Slack Technologies.

For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.

1 Article
Source: DW

SoftBank's mobile unit shares debut on Japan stock market

Today 13:36 GMT

Japan's telecoms giant Softbank went public on the Tokyo stock market on Wednesday, in what was one of the world's biggest Initial Public Offerings (IPO).

Softbank's stock market debut follows an embarrassing moment for the firm earlier this month, when tens of millions of SoftBank and the UK's O2 customers were unable to access data due to a glitch with software made by Sweden's Ericsson. The IPO is part of a wider strategy by SoftBank Group's chief, Masayoshi Son to transform the company from a Japan-based telecoms operation to a global hi-tech investment firm.

1 Article
Source: Common Domain

Micron stock tanks as sales outlook falls well short of target, production growth slashed

Today 13:36 GMT

Micron Technology Inc.’s quarterly outlook fell more than $1 billion short of already-diminished Wall Street estimates Tuesday afternoon, pushing the company’s stock down in after-hours trading.

Since November, 15 analysts have cut their price targets on the stock for an average price target of $58.70, down from an average of $76.04 a quarter ago, according to FactSet. Of the 34 analysts who cover Micron, 21 have buy or overweight ratings, 12 have hold ratings and one has an underweight rating.

1 Article
Source: Common Domain

Darden Says Diners Are Trading Up, Thanks to Strong Labor Market

Today 09:54 GMT

A strong labor market is pushing diners at Darden Restaurants Inc.’s DRI 5.19% brands to splurge, helping overcome weaker traffic at Olive Garden during its latest quarter, the company said.

The company said Tuesday it expects net profit from continuing operations of $5.60 to $5.70 a share in its current fiscal year, compared with previous guidance of $5.52 a share to $5.65 a share.

1 Article
Source: Common Domain

FedEx Starts Buyout Program as Express Struggles

Today 13:36 GMT

The company says the vast majority of its buyout offers will be made to workers at the FedEx Express unit, which has 227,000 employees, and at FedEx Services, which provides back-office functions and employs another 30,000 people.

The parcel carrier said Tuesday it was starting a voluntary buyout program for some U.S. workers after troubles in its express delivery business and a European acquisition have hurt profits.

1 Article
Source: Global News

76% of Canada’s national wealth is wrapped up in real estate, and the market is slowing: data

Today 13:36 GMT

This graph shows real estate as a share of national wealth in Canada and the U.S.:. Analysis of data from the U.S. Federal Reserve indicates that this is a higher share of national wealth than real estate takes up in the United States.

Canada’s a rich country with a gross domestic product of over $2 trillion and national wealth valued at over $11 trillion. But just how much of those riches are wrapped up in real estate?

1 Article
Source: Common Domain

General Mills Struggles to Lift Sales in North America

Today 13:36 GMT

GIS -0.11% reported weaker-than-expected revenue in its latest quarter, as the packaged-foods company failed to lift sales volume in retail stores in North America.

Like other packaged-foods companies, General Mills is pushing to attract customers who say they are looking for healthier foods and simpler options. In July, the company said it would focus on what it believes are unique product lines, including its natural and organic brands and its snack bars business, and consider divestitures.

1 Article
Source: Common Domain

Stocks Extend Decline as Investors Await Fed Policy Cues

Tuesday 02:25 GMT

U.S. stocks slumped Monday as investors looked ahead to this week’s Federal Reserve meeting amid mounting signs of slowing economic growth around the world.

The Fed will conclude its final policy meeting of the year Wednesday and while analysts widely expect the central bank to raise short-term interest rates, the focus will be on the Fed’s outlook for next year. Rising interest rates pose a challenge for small-cap firms, in particular, because they tend to have a much higher proportion of debt.

1 Article
Source: Common Domain

The Drop in Lululemon’s Stock Could Offer an ‘Entry Point’ for Investors

Tuesday 02:25 GMT

For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.

It is pointing investors toward about $3.23 billion in sales for the current fiscal year, which would represent year-over-year growth of about 22%.

1 Article
Source: Common Domain

Oracle bought an earnings beat with share repurchases

Today 02:25 GMT

Oracle’s ORCL, -1.87%  adjusted fiscal second-quarter earnings of 80 cents per share came in at the high end of its forecasts and a bit higher than consensus estimates on Wall Street of 78 cents a share, according to FactSet.

Two analysts estimated that the share repurchases added between 3 cents and 4 cents to Oracle’s earnings per share in the quarter, and that is only looking back three months.

1 Article
Source: BBC

Fashion price-cutting hits Asos profits

Today 00:35 GMT

Online fashion retailer Asos has warned of weak profits this financial year after "unprecedented" discounting hit its trading in November.

He added: "It's probably no coincidence Asos's key demographic of 20-somethings generally harbour more concerns over the future of the economy post-Brexit than their parents."

1 Article
Source: Common Domain

Oracle stock rises as earnings, cloud revenue narrowly top Wall Street estimates

Tuesday 22:46 GMT

Oracle Corp. shares rose in the extended session Monday after the enterprise software company’s quarterly results narrowly topped Wall Street estimates and forecast earnings roughly in-line with analysts’ consensus.

Revenue declined to $9.56 billion from $9.59 billion in the year-ago quarter; Wall Street had expected $9.52 billion from Oracle, according to analysts polled by FactSet. Cloud services and license support revenue rose to $6.64 billion from $6.46 billion in the year-ago period, while analysts surveyed by FactSet were looking for $6.63 billion.

1 Article
Source: Common Domain

Netflix Stock to Rally 30% Annually for 5 Years, Says Analyst

Tuesday 12:40 GMT

Netflix stock was up 1.7% to $271.48 on Monday, while the Dow Jones Industrial Average was down 0.4% and the Nasdaq Composite was just below the break-even line.

The firm’s analyst Rob Sanderson reiterated his Buy rating and 12-month price target of $415 for Netflix (ticker: NFLX) stock, predicting surging earnings growth through 2025. The recent dramatic selloff in Netflix stock is a great buying opportunity, according to MKM Partners.

1 Article
Source: Common Domain

FTSE 100 down, as retail sector shaken by ASOS profit warning

Tuesday 07:09 GMT

Retail gloom hit London markets on Monday, after online retailing giant ASOS PLC cut its full-year outlook, sending its rivals into the red.

Shares of ASOS, which list on London’s Alternative Investment Market of smaller companies, plummeted by 40% after the profit warning, helping send the shares of its rivals into the red. Shares of U.K. fashion retailers were down Monday morning after ASOS ASC, -39.15%   warned of difficult November trading and cut its full-year outlook.

1 Article
Source: Common Domain

Asian shares inch higher ahead of meetings by Fed, China’s economic policymakers

Monday 23:39 GMT

The Shanghai Composite index SHCOMP, +0.01%   rose 0.1% while the smaller-cap Shenzhen Composite 399106, -0.45%   fell 0.4% ahead of this week’s China’s Central Economic Work Conference, where policymakers are expected to maintain a proactive fiscal policy and commitment to supply-side reforms.

Asian markets rose Monday on hopes that the Federal Reserve would re-evaluate its hawkish stance at a meeting later this week, following signs of slower global growth.


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