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Here's Why Morgan Stanley Downgraded American Eagle Outfitters, Sees Considerable Downside

Morgan Stanley analyst Kimberly Greenberger downgraded American Eagle Outfitters Inc (NYSE:AEO) to Underweight from Equal-Weight with a price target of $8, down from $22, implying a 32% downside. The analyst noted the company reduced its 2022 guidance as its optimism proved excessive. Greenberger sees further risk to sales driven by significant Average Unit Retail (AUR) giveback. She…

Benzinga

Margaret Atwood's flamethrower of a stunt and the misguided moral certainty of book burning

If someone had told me a few weeks ago that nearly every major news website and social media account in the English-speaking world would post a video of Margaret Atwood – the 82-year-old matron saint of Canadian letters, the subject of countless doctoral dissertations and at least ten forests worth…

The Conversation

Tucker Carlson's Great Replacement Theory Is Spectacularly Wrong

Republicans have thrived since Ronald Reagan granted amnesty to 2.7 million mostly Mexican illegal immigrants in 1986.

Reason

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Victoria's Secret To Finance Settlement For Thai Workers Laid Off By Its Supplier: Reuters

Victoria’s Secret & Co (NYSE:VSCO) has agreed to finance an $8.3 million settlement loan to its Thailand-based supplier Brilliant Alliance Thai Global Co Ltd, Reuters reported. About 1,200 workers of the supplier were laid off in 2021 without severance pay and wages owed to them after it went bankrupt. Brilliant Alliance Thai…

Benzinga

Lowe's Hikes Dividend By 31%

Lowe's Companies Inc (NYSE:LOW) board of directors has increased the quarterly cash dividend by 31% to $1.05 from the previous quarterly dividend of $0.80 per share. The dividend is payable on August 3, 2022, to shareholders of record as of July 20, 2022. Lowe's has paid a cash dividend every quarter since going public…

Benzinga

Why Big Lots Shares Are Plunging Today

Big Lots Inc (NYSE:BIG) reported a first-quarter FY22 revenue decline of 15.4% year-over-year to $1.37 billion, missing the consensus of $1.46 billion. Comparable sales decreased 17% versus an 11.3% increase last year. Ecommerce accounted for 7% of total sales in the quarter. The gross margin for the quarter decreased 350 basis points Y/Y…

Benzinga

Airbus's New Facility To Research Cryogenic Fuel Systems, Focused On Hydrogen Technologies

Airbus SE (OTC:EADSY) is establishing a hydrogen-focused facility in the United Kingdom; its latest attempt to boost the design of its next generation of aircraft, reported CNBC. Airbus stated in a statement Wednesday that the Zero Emission Development Centre in Filton, Bristol, has already begun working on the technology's development. One of…

Benzinga

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Microsoft Joins Peers In Hiring Slowdown Amid Economic Volatility

Microsoft Corp (NASDAQ:MSFT) looks to slow hiring in its Windows, Office, and Teams chat and conferencing software groups, Bloomberg reports. Recently, Microsoft disclosed plans to double its budget for salary increases and boosting stock grants to retain key workers. Microsoft's slowdown was not companywide, and overall it will continue to hire with additional focus…

Benzinga

London Science Museum evacuated in safety alert as police called to scene

School children and visitors are waiting outside the historic museum to get back inside after they were evacuated shortly after noon

Daily Mirror

Toyota Cuts Production Plan For June Again

Toyota Motor Corp (NYSE:TM) has cut its June global production plan for the second time in a week due to the COVID-19 lockdown in Shanghai. The auto major cut production by 50,000 vehicles and now anticipates producing about 800,000 units in June. It has decided to suspend domestic factory line operations for the week…

Benzinga

Mystery of heartbreaking remains of drowned village - and chilling Jack the Ripper link

Hampton-on-Sea was a village on the north Kent coast which was tragically lost forever when the eroding sea battered the shoreline and caused the buildings to sink

Daily Mirror

Q1 Earnings Miss, Dismal Outlook, CFO Appointment: Burlington Stores' Q1 Highlights

Burlington Stores, Inc. (NYSE:BURL) reported a first-quarter FY22 sales decline of 12% year-on-year to $1.93 billion, missing the consensus of $2.04 billion. Comparable store sales decreased by 18%. The gross margin contracted by 230 basis points Y/Y to 41%. The total costs and expenses fell 3.5% Y/Y to $1.9 billion. Adjusted EBIT was…

Benzinga

Why Buckle Shares Are Surging Today

Buckle Inc (NYSE:BKE) reported first-quarter FY22 sales growth of 3.3% year-on-year to $309.06 million, beating the consensus of $291.76 million. Comparable store net sales for the quarter increased by 3.7% versus last year. Online sales increased 1.1% Y/Y to $54.3 million. EPS of $1.12 beat the analyst consensus of $0.89. Gross profit rose…

Benzinga

Why Dollar Tree Shares Are Rallying Today

Dollar Tree Inc (NASDAQ:DLTR) reported first-quarter FY22 sales growth of 6.5% year-on-year to $6.90 billion, beating the consensus of $6.76 billion. Enterprise same-store sales increased 4.4%. Same-store sales for Dollar Tree increased 11.2%. Family Dollar same-store sales decreased 2.8%. Gross profit for the quarter rose 19.2% Y/Y to $2.34 billion, and the gross margin…

Benzinga

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Benzinga

Why Build-A-Bear Workshop Shares Are Surging Today

Build-A-Bear Workshop Inc (NYSE:BBW) reported first-quarter FY22 sales growth of 28.4% year-on-year to $117.7 million, beating the consensus of $98.29 million. Net retail sales rose 26.6% Y/Y, and e-commerce demand grew 2.1%. Gross profit increased 27.7% Y/Y to $61.8 million. The gross margin of 52.5% contracted by 30 basis points Y/Y. The company…

Benzinga

Why Baidu Shares Are Gaining Today

Baidu, Inc (NASDAQ:BIDU) reported first-quarter FY22 revenue growth of 1% year-on-year to $4.48 billion, beating the consensus of $4.18 billion. Segments: Baidu's Core revenue increased 4% Y/Y to $3.37 billion; Online marketing revenue declined 4% Y/Y to $2.47 billion, and Non-online marketing revenue jumped 35% Y/Y to $903 million, driven by cloud and other AI-powered businesses.…

Benzinga

Sony Goes Aggressive On Gaming Pursuit - Read How

Sony Group Corp's (NYSE:SONY) PlayStation division looks to acquire more game studios and increase investment in live services, PC and mobile offerings, its gaming chief said, Bloomberg, reports. Sony is yet to expand PlayStation Studios inorganically and will look to keep forging deals, Jim Ryan said. Sony spent nearly half its PlayStation…

Benzinga

Why Macy's Shares Are Surging Today

Macy’s Inc (NYSE:M) reported first-quarter FY22 sales growth of 13.6% year-on-year to $5.35 billion, beating the consensus of $5.33 billion. Comparable sales increased 12.8% on an owned basis and up 12.4% on an owned plus licensed basis versus Q1 2021. Digital sales climbed 2% versus Q1 FY21 and 34% versus Q1 FY19. The…

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news in one place.

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Benzinga

Ryanair Expects Strong Summer Bookings: Reuters

Ryanair Holdings (NASDAQ:RYAAY) Chief Executive Michael O'Leary stated on Wednesday that bookings for the summer looked very strong, adding that the load factor should gradually rise to 94-95% in June-August, approaching pre-COVID-19 pandemic levels, reported Reuters. O'Leary told Reuters that the airline was likely to end this month with just over 15…

Benzinga

Hyundai To Recall 281,000 Vehicles Over Exploding Seat-Belt Part: Reuters

Hyundai Motor Co (OTC:HYMTF) will recall 281,000 vehicles in North America over fears of seat-belt pretensioners exploding, Reuters reported. The report noted that there were three injury reports caused by the explosion of seat-belt pretensioners, projecting the metal fragments. The recall will include some 2019-2022 Accent, 2021-2023 Elantra, and 2021-2022 Elantra hybrid vehicles. …

Benzinga

Why Wendy's Shares Are Surging Today

A regulatory filing shows that Nelson Peltz is considering a potential takeover bid for Wendy's Co (NASDAQ:WEN). Peltz' firm, Trian Fund Management, said it will explore a transaction on its own or with third parties that could include an acquisition, merger, or other transaction. Trian, along with its partners, owns a 19.4% stake in…

Benzinga

Nike Yet To Renew Franchise Agreements In Russia: Report

Nike Inc (NYSE:NKE) has not renewed agreements with its largest franchisee in Russia, Reuters reported, quoting Vedomosti daily newspaper. The U.S. sportswear maker suspended its Russia operations temporarily in March due to Russia's invasion of Ukraine. The head of Inventive Retail Group (IRG), which operates Nike-branded stores in Russia, reportedly said Nike…

Benzinga

Starbucks Divests This Cold-Pressed Juice Brand - What's The Focus Now

Bolthouse Farms has signed a definitive agreement to acquire the Evolution Fresh brand and business from Starbucks Corp (NASDAQ:SBUX) for an undisclosed amount. Evolution Fresh is a producer of primarily organic, cold-pressed, premium juice products. Bolthouse Farms, a portfolio company of private equity firm Butterfly, aligns powerhouse juice brands to propel Evolution Fresh forward.…

Benzinga

Stellantis, Samsung SDI To Build EV Battery Manufacturing Facility - Read More For Details

Stellantis NV (NYSE:STLA) and Samsung SDI have signed a binding, definitive agreement to establish an electric-vehicle battery manufacturing facility in Kokomo, Indiana. The joint venture will invest more than $2.5 billion (€2.3 billion) and create 1,400 new jobs in Kokomo and the surrounding areas. The investment could gradually increase up to $3.1 billion (€2.9…

Benzinga

This Auto Giant Cuts Production Plans Citing Parts Shortage - Read More For Details

Toyota Motor Corp (NYSE:TM) plans to cut global production by about tens of thousands of units to roughly 850,000 vehicles in June due to the semiconductor shortage. The auto major expects to produce 9.7 million units for the full period of the fiscal year 2023. The average global production plan from June through…

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