Juan Monino
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Hanesbrands (HBI) has reportedly sold Champion to Authentic Brands. (00:22) Costco (COST) launches weight loss program for members. (01:13) Amazon (AMZN) has Just Walk Out technology on shelves in some grocery stores. (01:54)
This is a summary transcript of the podcast.
Authentic Brands has agreed to acquire Champion from Hanes Brands (NYSE:HBI) for just over $1 billion.
The deal was completed within the last week and is expected to close in late May or early June, according to Women's Wear Daily.
Hanesbrands (NYSE:HBI) fell more than 10% on Tuesday following the report.
Last September, Hanes Brands (HBI) confirmed it would put its Champion business up for sale.
Despite sluggish sales and declining collaborations, Champion attracted the attention of several suitors. Hanesbrands (HBI) was seeking her $1.4 billion from the company.
According to sources cited by WWD, Champion is likely to outsource much of the manufacturing, design, logistics and operations of the label's various components, and thousands of jobs could be lost as a result of the deal. It is said that there is.
Costco Wholesale Corporation (NASDAQ:COST) has begun offering its U.S. members access to a weight loss program through its healthcare marketplace provider Sesame.
This service costs $179 every three months.
Renewable programs include a video consultation with a weight loss doctor or specialist and a GLP-1 or weight loss prescription if deemed appropriate.
Costco (COST) and Sesame said they are responding to customer interest in offering new weight loss programs.
“Sesame's unique model not only makes quality specialty care, such as weight loss, more accessible and affordable, but also empowers clinicians to create the right care plan specific to each individual patient. ” said Sesame CEO David. Goldhill interview.
Costco (COST) stock fell 1.4% on Tuesday as the broader market fell. Retail stocks are up 7.8% since the beginning of the year.
Amazon (NASDAQ:AMZN) is shelving its “Just Walk Out” technology in its U.S. Fresh stores that allows shoppers to pay for items and skip the checkout line.
Apparently, customers liked seeing their receipts and savings in real time.
Amazon (AMZN) Fresh stores will replace grab-and-go technology with Dash Carts, allowing shoppers to scan items and track spending on the go while skipping checkout lines. .
Self-checkout or cashier options are still available.
Of the 44 Amazon (AMZN) Fresh stores in the U.S., 27 have adopted “Just Walk Out,” which uses cameras and shelf sensors.
The technology will remain in Amazon (AMZN) Go stores and select Fresh stores in the UK, and will also be available at select third-party retailers.
Other notable articles on Seeking Alpha:
Paired buy and sell ideas within each sector – Oppenheimer
Apple's latest research suggests the tech giant will be an 'AI winner'
Biden is willing to lift LNG export suspension to promote support for Ukraine – Reuters
In Catalyst Watch of the day,
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The 2024 Son Investment Conference will be held in New York City. In the past, this meeting has caused the stock prices of some stocks to soar due to pitches from hedge funds.
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Walt Disney Co. (DIS) will hold its annual meeting amid a proxy battle over board representation. Activist investor Nelson Peltz and the Trian Group nominated two director candidates, Peltz and former Disney chief financial officer Jay Laslo, while Blackwells Capital nominated three.
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Dick's Sporting Goods (DKS) executives participate in a fireside chat at JPMorgan's 10th Annual Retail Roundup.
US stocks ended lower on Tuesday.
The Dow (DJI) fell the most among the three major averages, dropping 1.00%. The Nasdaq Index (COMP:IND) fell 0.95% and the S&P 500 (SP500) fell 0.72%.
Eight of the S&P's 11 sectors ended in the red.
Now let's take a look at the market price as of 6am. Dow, S&P, and Nasdaq futures are in the red ahead of today's opening bell. Crude oil remains flat at over $85 per barrel. Bitcoin rose 0.6% to over $66,000.
In global markets, the FTSE 100 fell 0.3% and the DAX rose 0.4%.
Biggest pre-market move of the day: Intel (NASDAQ:INTC) fell 5.2 after the semiconductor giant disclosed 2023 foundry business revenue of $18.9 billion and operating loss of $7 billion. % fell. This loss is bigger than his $5.2 billion loss. In 2022, it recorded sales of $27.5 billion.
Today's economic calendar:
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9:45 Fed's Michelle Bowman speaks at a roundtable in Washington, D.C., on “Bank Liquidity, Regulation, and the Fed's Role as Lender of Last Resort.”
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10:00 ISM Service Index
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12:10 p.m. Jerome Powell speaks on the economic outlook at a forum in California.
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1:10 p.m. Federal Reserve's Michael Barr speaks on the Community Reinvestment Act at the Just Economy 2024 conference in Washington, D.C.
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At 4:30 p.m., Adrianna Kugler of the Federal Reserve will speak on “Prospects for the U.S. Economy and Monetary Policy'' in St. Louis, Missouri.
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OPEC meeting
