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Morning Brief: Levi's returns to the public market

Thursday, March 21, 2019

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WHAT TO WATCH

There are two big consumer names to pay attention to: Nike (NKE) and Levi’s.

Shoe giant Nike is gearing up to report fiscal third-quarter results after the market close on Thursday. Analysts are anticipating Nike to report earnings of 65 cents per share on $9.65 billion in revenue.

And, after 34 years as a private company, the world’s biggest denim company, Levi’s, will go back on the public market. Expected to list nearly 37 million shares on the New York Stock Exchange, Levi’s will trade under the ticker LEVI. Shares are expected to price between $14 and $16 a share and will trade under a dual-class structure.

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TOP NEWS

Federal Reserve Chair Jerome Powell listens to a reporter's question during a news conference in Washington, Wednesday, March 20, 2019. (AP Photo/Susan Walsh)

Fed's Powell: We won't 'overreact' to fiscal policy: Responding to a question from Yahoo Finance about the appropriate balance of monetary and fiscal policy at the moment, Federal Reserve Chairman Jerome Powell said Wednesday he thinks of fiscal policy as “exogenous,” or independent of its own decision making. [Yahoo Finance]

More of our Fed coverage:

China says top U.S. trade officials to visit Beijing: A U.S. trade delegation headed by Trade Representative Robert Lighthizer and Treasury Secretary Steven Mnuchin will visit China on March 28-29 for the next round of negotiations, China's commerce ministry said on Thursday. [Reuters]

Walmart just lost its top tech executive: Walmart (WMT) confirmed to Yahoo Finance Wednesday that Chief Technology Officer Jeremy King — a well-regarded tech executive who has played a key role in shaping Walmart’s online turnaround in recent years — will depart the company on March 29. [Yahoo Finance]

AT&T CEO interrupted by a robocall on stage: AT&T (T) CEO Randall L. Stephenson was interrupted Wednesday afternoon by a robocall while on stage at an event at the Economic Club of Washington, DC. The timing couldn’t have been better. On the same day, AT&T announced that it and Comcast (CMCSA) have exchanged “dozens” of calls with a new technology designed to be as robocall-proof as possible, something the companies are calling an “industry first.” [Yahoo Finance]

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