Truist Securities analyst Patrick Scholes maintains Airbnb (NASDAQ:ABNB) with a Hold and raises the price target from $118 to $131.
Truist Securities analyst Patrick Scholes maintains Airbnb (NASDAQ:ABNB) with a Hold Read Post »
Estée Lauder is shifting its innovation in China so the company can understand what local consumers really want, CEO Fabrizio Freda says at UBS Global Consumer and Retail Conference. The beauty giant has rationalized its innovation to reduce the amount of what it calls risky innovation, and dramatically increased practical innovation with scientific advantages and clear consumer desire, Freda says. Estée Lauder is also focused on boosting consumer activation in this market by looking into the way it uses its social media channels. Overall, the company is setting its efforts toward winning the global consumer through its profit recovery plan, Estée Lauder’s Executive Group President Jane Hudis says. Shares fall 1.3% to $155.88.
Estée Lauder to Reduce Risky Innovation Investments Read Post »
Estée Lauder is shifting its strategy toward pricing to boost the image of its luxury beauty brands, CEO Fabrizio Freda says at UBS Global Consumer and Retail Conference. The executive acknowledged that “there’s been too much discounting” due to the volatility seen during Covid-19, and said the company has “all the plans to reabsorb these discounts correctly without impacting volume.” The company is also maximizing the capacity utilization of its factories. These measures are aimed at boosting Estée Lauder’s gross profit, Freda adds. Shares fall 3.3% to $152.76.
Estée Lauder to Reverse Discounts to Boost Luxury Perception, CEO Says Read Post »
Evercore ISI Group analyst Mark Mahaney maintains Netflix with a Outperform and raises the price target from $600 to $640.
Evercore ISI Group analyst Mark Mahaney maintains Netflix with a Outperform Read Post »
Wedbush analyst Daniel Ives reiterates Tesla (NASDAQ:TSLA) with a Outperform and maintains $315 price target.
Wedbush analyst Daniel Ives reiterates Tesla (NASDAQ:TSLA) with a Outperform Read Post »
McDonald’s chicken sales are growing faster than beef, but the company has more work to do to claim more share in the market, the company says at an investor conference. Chicken counts for some of the chain’s biggest selling brands, but McDonald’s needs more of them, the company says. McDonald’s coffee is also too inconsistent as its restaurants use 100 different coffee machines across its global restaurants, and the company has more to do to improve its taste, the chain says.
McDonald’s Wants More Chicken, Better Coffee Read Post »
By Angela Palumbo McDonald’s has been feeling the pressure as more people shift to grocery shopping as opposed to eating at restaurants. The fast-food chain has several plans to keep customers coming in for its Big Macs and Chicken McNuggets. During a presentation at the UBS Global Consumer and Retail Conference on Wednesday, fast-food giant McDonald’s noted a shifting trend of customers that has negative implications for the business. “You’re starting to see food at home inflation versus food away from home getting back to its more, I think, historical dynamic, which means I think some of those consumers are just choosing to eat at home more often,” said Chief Financial Officer Ian Borden. According to the U.S. consumer price index for February, prices for food at home have increased 1% over the last 12 months while prices for food away from home have jumped 4.5%. Consumers also are facing
McDonald’s (MCD) expects Q1 international developmental licensed segment sales to be slightly lower than the previous quarter due to the war in the Middle East and “challenges” in China, Chief Financial Officer Ian Borden said Wednesday. “I think you’ve heard lots of different companies talk about the, what I’ll call the macro and consumer challenges in China,” Borden said in a presentation at a retail conference, according to a Capital IQ transcript. “I think our business is doing okay, but I think the environment continues to be challenging.” Shares of McDonald’s were down more than 3% in recent trading.
Tesla (TSLA) is likely to see growth and margin improvement in the coming quarters despite the near-term headwinds it is facing, including the slowdown in global demand for electric vehicles, Wedbush said in a note Wednesday. Analysts said the negative sentiment around the company and Chief Executive Elon Musk is way overdone. “The stock is way overshooting on the negative front as the demand story for Tesla is more in stabilization mode heading to the rest of 2024, price cuts are moderating, battery costs/production is showing strong cost efficiencies, and a Model 2 is on the roadmap for the next year,” Wedbush said. The demand will remain sluggish during Q1 while the Berlin arson shutdown and the Delaware court’s ruling on Musk’s compensation package add to the near-term issues, according to the note. Wedbush said that the risk-reward for Tesla is very attractive with AI and full self-driving progress, potentially
Tesla to See Growth, Margin Improvement Despite Near-Term Headwinds, Wedbush Says Read Post »
Starbucks’s CEO and board chairwoman are expected to address shareholders by noting the brand’s resolve in operating in difficult times. “We face a complicated operating environment, and some challenging headwinds that will take some time to resolve,” CEO Laxman Narasimhan said in prepared remarks expected to be delivered to shareholders. Consumers in the U.S. and Europe are grappling with difficult pressures, making value particularly important for brands. Narasimhan said that the company has the right team and plan in place to move forward.
Starbucks Executives Talk of ‘Challenging’ Environment Read Post »
Tesla (TSLA) is facing near-term headwinds, but the negative sentiment is “way overdone,” Wedbush said in a note Wednesday. Wedbush said there is a fierce price competition in China’s auto market. However, these aggressive price reductions are expected to taper off into spring/summer 2024. This is a positive news for Tesla and the overall electric vehicle industry. Although Tesla is still tracking to exceed 2 million units in 2024, the 2.1 million to 2.2 million units range is still achievable, despite softer Q1 performance, the investment firm said. Wedbush maintained Tesla’s outperform with a price target of $315.
Tesla Faces Near-Term Headwinds but Negative Sentiment ‘Way Overdone’, Wedbush Says Read Post »
Citigroup analyst Jon Tower maintains Starbucks (NASDAQ:SBUX) with a Neutral and lowers the price target from $103 to $102.
Citigroup analyst Jon Tower maintains Starbucks (NASDAQ:SBUX) with a Neutral Read Post »