Stock Movers: Prada, Walmart, US Steel
On this episode of Stock Movers: - Prada (PRDSY) shares are higher after it agreed to acquire Versace from Capri for $1.38 billion in cash in a deal aimed at strengthening its position as Italy's largest fashion group. The Milanese company, controlled by billionaire designer Miuccia Prada and her husband Patrizio Bertelli, expects the transaction to close in the second half of this year, the companies said Thursday. Bloomberg News reported on March 2 that Prada was near a deal to buy Versace from Capri Holdings Ltd., which paid $1.8 billion for the brand in 2018. - Walmart (WMT) shares are down as the company has asked price stickers get left off packages in China after the round of tariff increases. Walmart declined to comment on the news after yesterday's Analyst Day, in which the CEO said there are real time decisions to be made. - Amazon (AMZN) shares are lower after CEO Andy Jassy says in his annual letter to shareholders that the company has to operate like the 'world's largest startup' as it works to meet demand for artificial intelligence and cut bureaucracy in its ranks. The company also recently revealed a long-delayed update to Alexa set to give the voice assistant more fluent conversational powers. - US Steel (X) shares are lower this morning after President Trump said he opposed a Japanese company from buying the American steelmaker, and says it's a company that should remain in America. He said US Steel is a 'very special" company and does not want it to go anywhere but America.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNBC
an hour ago
- CNBC
Walmart chases new and younger customers as tariffs rattle shoppers
BENTONVILLE, ARK. — As tariffs drive prices higher, Walmart unveiled its latest efforts to woo new and younger shoppers — including a fresh advertising campaign, a clothing brand designed for tweens and drone deliveries in more cities. The moves, which the retail giant's leaders announced this week, illustrate how the discounter sees opportunities to grow even while consumers tighten their wallets and the economic outlook appears murky. Walmart, the largest private employer and retailer in the U.S., hosted thousands of hourly employees, store managers, investors and reporters this week at its Associates Week event in its hometown of Bentonville, Arkansas and nearby Fayetteville. The event, part-pep rally and employee recognition ceremony, coincides with its annual shareholders meeting and caps off with surprise celebrity and musical performances. This year, Jimmy Fallon emceed and Post Malone, Camila Cabello, Noah Kahan and The Killers performed. Despite the festive atmosphere, it was hard to overshadow the events outside of Arkansas. The celebration came at a time when tariffs have roiled the retail industry, forced price increases across chains and raised questions about economic growth. Even so, Walmart has insisted it has an opportunity to keep gaining market from value-conscious shoppers across incomes, including wealthier households, by offering better items and more convenience — an effort it hopes its new plans will boost. Walmart Chief Financial Officer John David Rainey told reporters on Friday that tariffs haven't changed consumer spending patterns — where shoppers are paying more for groceries and holding back on other items. "It's been very consistent, and what we've seen over the last year, even two years, is that consumers are spending more on food, and that gives them less money to spend on general merchandise," Rainey said, referring to discretionary items like clothing and toys. "You can still tell that wallets are stretched, that consumers are still faced with high prices, even though the year over year inflation numbers are not the headlines that they were 18 months ago," he said. Rainey warned last month that Walmart would have to raise its prices because of tariffs, a remark that drew sharp criticism by President Donald Trump, who told the company to "EAT THE TARIFFS" in a social media post. Walmart CEO Doug McMillon stood by the decision to announce the price increases. "We're just trying to be good retailers," he said. "And so when we had the Q1 earnings release, we wanted to communicate what we're seeing. I think we have a responsibility to do that for shareholders, and I think we did it appropriately." McMillon declined on Friday to specify categories or merchandise where Walmart has increased prices, saying that the company is "doing everything we can to offset" cost pressure on imported items. About two-thirds of what Walmart sells in the U.S. is made, grown or assembled in the country. Groceries make up the majority of sales for Walmart in the U.S. and the category has thin profit margins. Yet selling more of higher-margin categories, such as apparel and home decor, can help Walmart offset cost pressures or price increases from tariffs, McMillon said. As trade tensions dampen consumer sentiment, Walmart believes the new investments can help it win new consumers who have what it sees as an outdated view of the retailer. Among the efforts, it plans to expand drone deliveries to 100 stores in three states in the coming year through drone operator Wing. Customers can already get drone deliveries in parts of Northwest Arkansas and the Dallas-Fort Worth area. Also starting in early July, Walmart will carry a new private brand of clothing, Weekend Academy. The retailer designed the new brand, which will debut with 65 clothing, footwear and accessory items for tween girls and boys, with most products under $15. Gypsy Jo Diessner, vice president of kids fashion for Walmart U.S., said the brand will land on shelves in time for back-to-school season. She said it caters to Gen Alpha, a fashion-forward young customer who has fewer options than younger kids, teens and adults. Walmart's plan to reinvent itself for a new kind of customer perhaps showed most in an early glimpse of ad campaign shown to employees gathered for the Associates Celebration at the University of Arkansas' Bud Walton Arena. The TV spots, which feature actors Walton Goggins of HBO's "The White Lotus" and Stephanie Beatriz of "Brooklyn Nine-Nine," show off Walmart merchandise and delivery options that may surprise some shoppers. It carries the tagline, "Who knew?"
Yahoo
2 hours ago
- Yahoo
How Walmart's Physical Stores Are Powering Its Digital Expansion (Revised)
Walmart's WMT success continues to be powered by its strong omnichannel strategy, which blends physical stores with digital shopping. The company is constantly improving how it serves customers by using data, investing in technology and making in-store operations more efficient. Because most Americans live close to a Walmart, the company can use its stores to quickly fulfill online orders. It has taken many steps to improve its e-commerce business, such as buying other companies, forming partnerships and upgrading its delivery and payment systems. In the first quarter of fiscal 2026, Walmart's global e-commerce sales grew by 22%, thanks to more customers using online shopping across all its the United States, e-commerce sales rose 21%, driven by fast store-fulfilled pickup and delivery, strong marketplace sales and growth in advertising. More customers are choosing faster delivery options for convenience. International e-commerce sales increased 20%, also supported by store-based pickup and delivery and growing marketplace demand. At Sam's Club U.S., e-commerce sales jumped 27%, with major gains in Club-fulfilled deliveries and pickup is also building out its supply chain and expanding key digital businesses like Walmart GoLocal (last-mile delivery), Walmart Connect (advertising), Scintilla (data insights), Walmart+ (membership program) and Walmart Fulfillment Services (helping sellers deliver products). It has made smart investments such as acquiring a large stake in Flipkart, a leading e-commerce platform in India, and owning most of PhonePe, a digital payments company. Walmart has also been growing quickly in online grocery shopping, which remains a major driver of its digital success. Amazon AMZN is the top player in online shopping, thanks to its huge product range, fast delivery and strong marketplace with many third-party sellers. Its strategy focuses on speed, convenience and keeping customers loyal through Prime, which offers free shipping and other perks. Amazon keeps investing in better technology, AI and faster fulfillment. Recently, its online sales have grown again after a slower period. However, Walmart is catching up by using its many stores to quickly deliver online orders, especially in groceries, where it has a clear advantage. The race between Amazon and Walmart is getting TGT e-commerce business is growing fast because of its focus on making shopping easy and quick. They offer services like same-day delivery and curbside pickup, using their stores to help fulfill online orders. This has helped Target's online sales grow a lot. In the first quarter of 2025, Target's e-commerce operations contributed approximately 20% to the company's total revenues. Target relies on its unique brand and loyal shoppers to compete with Walmart's size and low prices. Shares of Walmart have gained around 10.6% year to date compared with the industry's growth of 10.8%. Image Source: Zacks Investment Research From a valuation standpoint, WMT trades at a forward price-to-earnings ratio of 37.08X, significantly above the industry's average of 33.95X. Image Source: Zacks Investment Research The Zacks Consensus Estimate for WMT's 2025 earnings implies year-over-year growth of 3.2%, whereas its 2026 earnings estimate suggests a year-over-year uptick of 11.6%. The estimates for 2025 and 2026 have been stable in the past seven days. Image Source: Zacks Investment Research WMT stock currently carries a Zacks Rank #4 (Sell). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. (We are reissuing this article to correct a mistake. The original article, issued on June 4, 2025, should no longer be relied upon.) Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Inc. (AMZN) : Free Stock Analysis Report Target Corporation (TGT) : Free Stock Analysis Report Walmart Inc. (WMT) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Yahoo
2 hours ago
- Yahoo
Howard Levitt: Working for a foreign-owned company in Canada can be risky business
In this uncertain and rapidly evolving global economic climate, Canadians are turning inward more than ever and reevaluating their position within the new world order. We are buying Canadian, travelling Canadian, celebrating Canadian virtues and values; but amidst all of this rediscovered 'Canadiana,' millions of us continue to work for companies based in the U.S. or elsewhere. Working for a foreign-owned company in Canada can feel like being in a cross-cultural relationship — full of opportunity but rife with the potential for miscommunication, mismatched expectations, and even exploitation. From the aggressive pace of U.S. capitalism to the top-down rigidity of some Asian firms, foreign parent companies often bring unspoken assumptions about loyalty, etiquette, work ethic, and what's 'normal' at work — assumptions that may clash with Canadian values and laws. As the job market globalizes, especially in sectors like tech, finance, and energy, Canadian professionals must evaluate not just the job, who's really running the show — and from where. Is it Houston or Calgary? Toronto or Tokyo? The answer to this question is more important than you think, especially when evaluating whether you will be a fit with the organization. Ultimately, however, this boils down to your personality. How you communicate, set boundaries and deal with conflict can make or break your success in these cross-border environments. Some foreign firms reward traits that others might suppress. If you are conscientious and respect hierarchy, you might thrive at a Japanese or Korean-owned company — but expect little tolerance for dissent or work-life balance (though younger generations continue to make progress on these fronts). If you are assertive and goal-driven, an American-owned firm may fit — though loyalty may be one-sided. Those who value consensus and equity may find a better match in Canadian or European firms, where protected leaves and diversity policies are ingrained. Upbringing matters, too. If you grew up equating hard work with moral virtue, you may overlook red flags. If you were raised to value rights and boundaries, you might resist being overrun — but also face friction with hierarchical employers. Canada has one of the world's most employee-friendly legal systems, with strong human rights laws, generous severance standards under common law, and courts that award damages for bad-faith conduct. But if your real boss sits in Houston, Seoul, or Beijing, things get complicated. For example: In many U.S. states, firms often rely on 'at-will' employment terms, whereby companies may terminate your employment without notice or severance pay. This makes for easy terminations, but less reward for employee loyalty and service. While 'at-will' terminations do not exist in Canada, an executive or manager based in the U.S. may resist an employee's proper severance entitlements, even with sound legal advice. Japanese and Korean companies may nominally guarantee long-term employment, but workplace hierarchy often overrides individual rights, and legal recourse is rare due to social stigma in those countries. Canadian employees should be alive to such cultural dynamics, ideally prior to signing an employment agreement. In China, while labour laws exist, they are limited, pro-business and highly ineffective in addressing or resolving employee complaints. The blurry division of power between the government and the courts, coupled with an emphasis on social stability over individual rights, means many Chinese employers remain largely unchallenged by employee grievances and complaints. Recent cases show how these clashes play out in court: China Southern Airlines (2023): The company was chastised by a Canadian court for 'abusive, unfair (and) cruel' treatment of an employee in its effort to manufacture just cause for dismissal or force a resignation. The court sided with the Canadian airline employee, awarding significant damages and reinforcing the principles of Canadian law. Tesla Canada (2023): Workers were allegedly penalized for taking protected sick leave. U.S.–style expectations led to complaints and eventual Ministry of Labour intervention, which forced Tesla to revisit their internal policies. Samsung C&T: The company reportedly retaliated against whistleblowers following its breach of U.S. federal trade laws. Settlements followed, but only after regulatory investigation and prosecution. Some traits increase your risk when working for foreign-controlled firms: High trust in employers by Canadians may lead to under-documenting important conversations, failure to seek appropriate legal or HR advice and be caught offguard in a workplace dispute. Avoiding conflict may cause you to stay silent about questionable business practices. Extreme loyalty, or a predisposition to conformity or deference, can put an employee at risk of being taken advantage of. In contrast, employees who document, ask questions and seek employment law advice early are better protected, or at least better informed when it comes to dealing with these employers. Before accepting an offer from a foreign-owned company in Canada, ask: Who really makes the decisions — your local manager or someone overseas? Does the company follow Canadian legal standards around severance, leaves and discrimination? Is your employment contract governed by Canadian law? Does the local HR/legal team have real authority, or are they just enforcing foreign policies? Always review the contract with an employment lawyer. If it limits you to the minimum protections under the Employment Standards Act, that's a red flag. Your values should align with your employer's culture and legal commitments. The law can protect you — but it will not and cannot buffer every cultural mismatch. Choose employers whose expectations respect both your rights and your personality. Because in the end, who you work for speaks volumes about who you are. Howard Levitt is senior partner of Levitt LLP, employment and labour lawyers with offices in Ontario, Alberta and British Columbia. He practices employment law in eight provinces and is the author of six books, including the Law of Dismissal in Canada. Jarret M. Janis is head of the Alberta office of Levitt LLP. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
