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- A + A NEW YORK/BENGALURU (May 17): US stocks rose on Tuesday, as Citigroup led a surge in bank shares after Berkshire Hathaway revealed a big stake and strong retail sales in April eased some concerns about slowing economic growth. Ten of the 11 major S&P sectors advanced, with financials and technology up 2% each. Microsoft Corp, Apple Inc, Tesla Inc and Nvidia Corp gained between 1.5% and 4.8%, providing the biggest boost to the S&P 500 and the Nasdaq. Banks jumped 3.1%, with Citigroup climbing 7.9%, after Warren Buffett's Berkshire Hathaway disclosed a nearly US$3 billion investment in the US lender. "If you have exhausted sellers, there's no one else left to sell ... the market has really been pummeled," said Mimi Duff, senior client advisor at investment advisory firm GenTrust. "So at the very sight of any good news you can get a bounce, but what we are really looking for is some consolidation." US retail sales increased 0.9% in April, as … [Read more...] about Wall St climbs on gains in banks, strong retail sales data

- A + A NEW YORK (May 17): US retail sales grew at a solid pace in April, reflecting broad-based gains and suggesting demand for merchandise remains resilient despite rampant inflation. The value of overall retail purchases increased 0.9%, after an upwardly revised 1.4% gain in March, Commerce Department figures showed on Tuesday. Excluding vehicles and gas stations, sales rose 1% last month. The figures are not adjusted for inflation. The median estimate in a Bloomberg survey of economists had called for an 1% increase in overall retail sales from a month earlier and a 0.7% jump in the figure excluding autos and gas stations. Treasuries sold off after the report, while stock futures held gains and the dollar remained lower. "While the increase will look less impressive after taking price movements into account, today's data still suggests that the squeeze on household incomes from inflationary pressures isn't yet having a material impact on discretionary … [Read more...] about US retail sales show consumer standing firm in face of inflation

- A + A HONG KONG (May 17): JD.com Inc logged better-than-expected 18% revenue growth, after China's second-largest e-commerce operator grew market share to cushion the blow from Covid-19 lockdowns across the country's biggest cities. Sales climbed to 239.7 billion yuan (US$35.6 billion) in January-March, beating the 236.7 billion yuan average of analyst forecasts. It reported a net loss of three billion yuan. JD's stock surged more than 8% in pre-market trading in New York. JD and larger rival Alibaba Group Holding Ltd are grappling with the economic fallout from the coronavirus-related lockdowns that have snarled logistics to cities such as Shanghai. Heavily reliant on domestic sales, JD has been expanding brand offerings to tempt shoppers. Alibaba is expected to post its slowest quarterly growth in revenue since its 2014 listing. Billionaire Richard Liu's online shopping empire has largely avoided a direct hit from Beijing's crackdown on China's biggest … [Read more...] about JD.com revenue jumps, defying China lockdown hit to spending

Share to Twitter Share to Linkedin I first made Skechers USA SKX a Long Idea in April 2016 and closed the position in March 2018 to lock in its 5% outperformance of the S&P 500. Shortly thereafter, I made the stock a Long Idea again in May 2018. Since then, the stock is up 29% compared to a 53% gain for the S&P 500. The stock still presents excellent risk/reward and could be worth $70+/share today – a 79%+ upside. Skechers’ Stock Has Strong Upside Based on: the company’s large physical store footprint consistent market share gains large scale advantages the company enjoys as the third largest global footwear brand ability to reach its niche market with comfort and value current valuation of the stock implies profits will permanently fall 20% below current levels. Figure 1: Long Idea Performance: From Date of Publication Through 5/2/2022 What’s Working Stores Drive Growth: Skechers operates a wholesale business … [Read more...] about Disciplined Growth Makes Skechers USA A Quality Holding

Share to Twitter Share to Linkedin I’ve made it no secret that Ace & Jig is one of my all-time favorite fashion brands. Since I first laid eyes on their gorgeous, often reversible textiles in 2014, I’ve been a dedicated follower and fan. When the world seemed to fall apart two-plus years ago under the fog of a global pandemic, I worried about all my favorites in fashion, and top on the list was Ace & Jig. Ace & Jig has a cult following, in large part thanks to the brand’s original, colorful textiles, which are designed completely in house by founders Jenna Wilson and Cary Vaughan. It’s a laborious process of collaborating with craftspeople in India to combine the colors and textures that will bring the design duo’s visions to life. But the stunning, truly unique results are well worth it. One way the team survived the pandemic was to use previous season’s textiles with new designs. Thank goodness, it worked! And it makes … [Read more...] about Ace & Jig’s Spring 2022 Assortment Features All New Bespoke Textiles

People drink beer outside a pub at Euljiro, central Seoul, on May 11. [NEWS1] Alleys with restaurants and bars are bustling again with the lifting of social distancing restrictions, and the pandemic almost feels like a thing of the past. Mr. Jang, a 30-year-old who runs a wine bar in Gwanak District, southern Seoul, said business recently rebounded to pre-pandemic levels. “Sales started to rise starting at the end of last year, and really began to jump in March,” said Jang. “My business is doing really well as more people come for hoesik .” Hoesik refers to after-work dinners with coworkers that often feature alcohol. For a while, hoesik was a kind of forbidden activity with restrictions on restaurant operating hours and the size of private gatherings. The vaccine pass system was suspended March 1, allowing unvaccinated people to eat with others at restaurants and bars. They were previously only allowed to eat alone or had to present proof of a negative polymerase chain … [Read more...] about For bars and restaurants, it’s a time of ka-ching

Razorpay Founders Shashank Kumar & Harshil Mathur B2B payments and neobanking platform Razorpay is looking to get new investors on board through a share sale of $75 million by its employees, the company said on May 10. The purchase will be led by Lightspeed Venture Partners along with participation from Moore Strategic Ventures who will subsequently join the company’s cap table. This will also be Razorpay’s fourth and largest Employee Stock Ownership Plan (ESOP) buyback till date, and the second largest in the startup space after Flipkart’s Rs 600 crore buyback in July 2021. 650 of the startup’s existing and former employees will be eligible for this across roles including software engineers, product managers, customer experience agents, sales, and administrative staff. In December 2021, Razorpay’s valuation had jumped from $1 billion to $7.5 billion after the startup raised $375 million in its largest round. In an interview with Moneycontrol, Razorpay’s founder and … [Read more...] about Lightspeed and Moore Strategic Ventures become investors in Razorpay by buying employee shares worth $75 mn

- A + A NEW YORK (May 18): Global equity markets rallied and Treasury yields rose on Tuesday, as solid U.S. retail sales in April suggested economic growth might strengthen, as did an easing of China's lockdowns to contain the COVID-19 pandemic. U.S. retail sales rose 0.9% last month while data for March was revised higher to show sales advancing 1.4% instead of 0.7% as previously reported, the Commerce Department said. The data show U.S. consumers weathering inflationary headwinds as sales gained for the fourth consecutive month, said Jeffrey Roach, chief economist for LPL Financial. Sales are nominal, so much of the increase is from higher prices, he said. "We expect a rebound in economic growth in Q2," Roach said in an email, if prices moderate enough to relieve some of the pressure on consumers. U.S. and European stocks rallied following gains overnight in Asia. MSCI's gauge of stocks across the globe closed up 2.0%. The pan-European STOXX 600 index rose … [Read more...] about Shares rebound, Treasury yields rise on stronger data

- A + A (May 18): Wall Street finished sharply higher on Tuesday, lifted by Apple, Tesla and other megacap growth stocks after strong retail sales in April eased worries about slowing economic growth. Ten of the 11 major S&P sector indexes advanced, with financials, materials, consumer discretionary and technology all gaining more than 2%. Investors were cheered by data showing U.S. retail sales increased 0.9% in April as consumers bought motor vehicles amid an improvement in supply and frequented restaurants. Recently punished shares of Microsoft Corp, Apple Inc, Tesla Inc and Amazon gained between 2% and 5.1%, driving the S&P 500 and the Nasdaq higher. Tuesday's broad rally followed weeks of selling on the U.S. stock market that last week saw the S&P 500 sink to its lowest level since March 2021. "The largest pockets of stocks that investors tend to buy have been essentially beaten up. They're either in correction or bear market territory," said … [Read more...] about Wall Street ends sharply higher, fueled by Apple

New York (CNNBusiness) Weddings typically aren't the occasion to throw convention to the wind, but some brides are doing just that with at least one centerpiece of their nuptials — the white wedding dress. Among wedding trends heating up, sellers have noted a surge in interest in black bridal gowns. According to Google Trends, searches for "black wedding dress" have kept pace with searches for "white wedding dress" over the past 12 months. In Sept and Oct 2021, "black wedding dress" was searched more than "white wedding dress" on Google. "This is by far our favorite trend and we are loving it. Black gowns are chic and dramatic," said Laura McKeever, senior manager of brand PR, philanthropy and communications with David's Bridal, one of largest sellers of wedding gowns in the United States. The trend has picked up so much momentum since last year that David's Bridal, which previously only offered black wedding dresses by custom order, will offer black … [Read more...] about Brides are pumped to wear black wedding dresses