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China Edges Into Hong Kong to “Clean Up Streets” The Chinese have invaded Hong Kong. So far it’s just to clean up the streets, but their presence on the island is raising some eyebrows as to what Beijing’s real intentions are in bringing Chinese soldiers in to participate in the situation. The soldiers, part of […]The post Market Morning: Chinese Army in Hong Kong, Boeing Walks Back Comments, Kraft Heinz Cheese Problems appeared first on Market Exclusive.
The broader stock market looks to be a "little overbought" at current levels but it would be unwise to "fight this very strong uptrend," Gordon said. Taking a look at individual charts for signs of clear momentum, Costco fits the bill as there are signs of upside but a defensive position can also be made. Costco's chart is "showing no hesitation" breaking through the $310 level, he said.
(Bloomberg Opinion) -- Warren Buffett’s Berkshire Hathaway Inc. has $128 billion of cash. There is almost no purchase too large for the company — in fact, large is exactly what investors are waiting for. And yet, the only stock Berkshire bought last quarter was a dinky retailer, RH.Berkshire disclosed in a regulatory filing Thursday that it took a $212 million stake in RH, a California-based home-furnishings chain valued at $3.3 billion. Buffett could even buy the entire company and it’d still be a puny deal for him. But it was a big deal for RH, because the shares surged 9% in after-hours trading and held near that level early Friday morning.I admit I didn’t even recognize the retailer’s name at first. RH used to be called Restoration Hardware, a place that sells $6,000 linen sofas and elongated wooden dining tables with “forthright silhouettes.” The company shrank its name and supersized its stores, an effort to target a more upscale clientele. It’s even installed some on-site restaurants, a little nourishment to help one ponder a new addition to the ski house. That’s partly what makes RH such a funny investment for Buffett. Not only is the billionaire known for his down-to-earth lifestyle — he’s lived in the same fairly modest house for more than 60 years — but he’s also usually drawn to businesses that mirror the America he sees from his unassuming Omaha office: railroads, truck stops, Dairy Queens, the Nebraska Furniture Mart. Furthermore, Berkshire tends not to waste time on minority stakes in small, specialty chains; its only other retail holdings are Amazon.com Inc. and Costco Wholesale Corp., companies valued at $870 billion and $134 billion, respectively. RH was the only new position Berkshire took in the latest quarter, aside from buying common shares of Occidental Petroleum Corp., in which it already purchased $10 billion of preferred equity (part of a financing deal to assist the oil and gas explorer in its takeover of Anadarko Petroleum Corp.). All in all, it was another dull period for Berkshire, whose last splashy stock pick was Amazon earlier in the year. With U.S. equities still on the rise, Buffett, 89, and his investing deputies are struggling to find cheap candidates. Whoever made the call on RH — Todd Combs, Ted Weschler or the Oracle himself — he may have had prescient timing. At the end of May, RH’s price-to-earnings ratio hit a low, and the shares have doubled since then, taking a big leg up in September. That said, RH’s overnight gains drove the shares above analysts’ average target level, which is $181 apiece. “The business remains tough to predict and we believe expectations may now be somewhat elevated,” Bobby Griffin, an analyst for Raymond James & Associates who has the equivalent of a “hold” rating on RH, wrote in a Sept. 11 report, citing the China tariffs and a slowdown in high-end U.S. housing. Similarly, Gordon Haskett Research Advisors wrote to clients Sept. 10 that the firm finds other retailers such as Wayfair Inc., Williams-Sonoma Inc. and At Home Group Inc. more attractive. At the end of the day, though, no matter how RH performs, it won’t have much of an impact on Berkshire’s portfolio. Another quarter has passed without a major acquisition by Berkshire, its cash pile hitting a record yet again. RH may sell a $449 wool felt elephant, but it isn’t the kind of elephant Buffett is after. The wait continues.To contact the author of this story: Tara Lachapelle at email@example.comTo contact the editor responsible for this story: Beth Williams at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Many of the world’s biggest listed companies including Amazon, LVMH and Qualcomm are not transparent in how they identify and address human rights issues in their businesses and supply chains, according to the Corporate Human Rights Benchmark. The London-based not-for-profit found about half of 200 groups it analysed failed to show any evidence at all that they are identifying and addressing human rights issues with the tech sector of particular concern. Forty tech manufacturers, which were included in the CHRB ranking for the first time this year, scored particularly badly with an average score of 18 per cent compared to 24 per cent across the entire basket of companies.
Target jumped over 2% Thursday after rival Walmart impressed Wall Street once again with its comps and e-commerce growth. So is it time to buy TGT stock heading into earnings?
Walmart is a retail titan taking the fight to Amazon. But earnings growth is tepid. The stock is hitting new highs, but is it a good buy?
Walmart earnings topped Q3 views. Sales just missed, but e-commerce sales surged 41%. The Dow Jones giant raised EPS guidance. Walmart stock opened higher but reversed lower.
The world’s largest retailer’s third quarter results on Thursday showed that yet again, CEO Doug McMillon continues to pull almost all the right strings operationally.
Walmart stock is up over 13% in the last three months. Now, with the firm set to report its Q3 financial results before the opening bell Thursday, let's break down Walmart to see if investors should consider buying WMT shares...
Walmart is in buy range while top retail stocks Lululemon Athletica, Costco, RH and Burlington Stores are near buy zones as retailers get ready for a busy holiday season.
Stock futures: Thursday's stock market swings shows why you don't fight China trade news. Disney leapt overnight on earnings and Disney+ hints, after Alibaba, Costco and Dexcom broke out.
Insight Enterprises (NSIT) is at a 52-week high, but can investors hope for more gains in the future? We take a look at the company's fundamentals for clues.
ISSAQUAH, Wash., Nov. 06, 2019 -- Costco Wholesale Corporation (“Costco” or the “Company”) (Nasdaq: COST) today reported net sales of $11.92 billion for the retail month of.
Some Costco Wholesale Corporation (NASDAQ:COST) shareholders may be a little concerned to see that the Consultant and...