Business
Barclays downgrades Nike heading into earnings next week, cites slew of challenges for apparel maker
Steer clear of Nike heading into the company’s earnings release next week, Barclays advised. Analyst Adrienne Yih downgraded shares to equal weight from overweight, saying the sports apparel retailer could report “potential low-quality” earnings results next week as it continues to deal with inventory issues. “We downgrade shares of NKE to Equal Weight based on: […]
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Peloton adds $3,195 rowing machine to fitness equipment lineup
Peloton Rowing Machine Courtesy: Peloton Peloton is adding a line of rowing machines to its lineup as the company works through a restructuring to expand its customer base and return to a profit. The fitness machine maker said on Tuesday it’s launching Peloton Row, which starts at $3,195 and is now available for pre-order on […]
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UN secretary general says ‘polluters must pay,’ calls for extra tax on fossil fuel profits
Antonio Guterres photographed in New York last September. On Tuesday, he said fossil fuel firms and their “enablers” needed to be held to account. John Minchillo | Pool | Getty Images News | Getty Images The U.N. secretary general said Tuesday that developed economies should impose an extra tax on the profits of fossil fuel […]
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Two veteran sports execs launch firm aiming to invest up to $50M in early-stage companies
Newcastle United’s Alexander Isak in action with Crystal Palace’s Cheick Doucoure. Lee Smith | Reuters Two longtime sports executives are launching an investment firm they say will back startups capitalizing on the growing opportunities at the intersection of sports, media and entertainment. Velocity Capital Management said Tuesday it will invest up to $50 million in […]
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5 things to know before the stock market opens Tuesday
Jerome Powell at Jackson Hole, WY Jonathan Crosby | Reuters Here are the most important news items that investors need to start their trading day: 1. Fed meeting kicks off The Federal Reserve’s policy-setting committee is set to start its two-day meeting Tuesday, as the market waits to see whether the central bank raises its […]
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Layoffs loom on the horizon, some economists say
From rising inflation to a red-hot job market and the negative gross domestic product in between, economists are divided on the health of the U.S. economy. “There has been a lot of talk recently that we’re in a recession. We have two quarters of declining GDP that often happens with the recession. … But we […]
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KeyBanc says buy Diamondback Energy, which can rally 25% as U.S. struggles to meet oil demand
Investors should buy Diamondback Energy, a top Permian Basin oil producer, as the U.S. struggles to meet demand, according to KeyBanc. Analyst Tim Rezvan initiated coverage of Diamondback Energy with an overweight rating. He also slapped a $163 per share price target on the stock, implying upside of roughly 25% from Monday’s close. “Fears of […]
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Deutsche Bank downgrades data storage company Western Digital, cites softening demand
It’s time to move to the sidelines on Western Digital , according to Deutsche Bank. Analyst Sidney Ho downgraded shares to hold from buy, citing weak demand ahead. The analyst also lowered her price target on the stock to $40 from $56. The new target implies upside of roughly 9% from Monday’s close. “We believe […]
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Intuit CEO says company sees healthy consumer spending, but inflation still needs to get under control
Intuit sees strong consumer spending despite persistent inflation dogging the economy, company CEO Sasan Goodarzi told CNBC’s Jim Cramer on Monday. Goodarzi noted that the financial software firm is able to see consumer spending, the number of employees that businesses have hired and the number of hours they’ve worked. “When we look at those elements […]
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Cramer’s lightning round: International Paper is not a buy
Matterport Inc: “I’d rather be in HP. … This company is losing too much money.” Medtronic PLC: “These guys have lost their way. … They are not executing.” International Paper Co: “Once that starts rolling over, it rolls over big. I do not want you to touch that stock.” Stanley Black & Decker Inc: “I […]
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