Destination XL: Fiscal Q1 Earnings Snapshot
CANTON, Mass. (AP) — CANTON, Mass. (AP) — Destination XL Group Inc. (DXLG) on Thursday reported a loss of $1.9 million in its fiscal first quarter.
On a per-share basis, the Canton, Massachusetts-based company said it had a loss of 4 cents.
The retailer of big and tall apparel posted revenue of $105.5 million in the period.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on DXLG at https://www.zacks.com/ap/DXLG
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Associated Press
5 minutes ago
- Associated Press
Hall of Fame QB Peyton Manning becomes latest sports celebrity to join NWSL Denver's ownership group
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Business Insider
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- Business Insider
6 Wall Street veterans share the best trades they've ever made
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Arjun Divecha, founder of GMO Emerging Markets Equity In 1998, Russia experienced a financial crisis that caused its stock market to crash by 98% and sparked a brief global financial shock. Divecha started buying up discounted shares of machinery producer UralMash, now known as United Heavy Machinery, amassing a 5% stake in the company. One night, he got a call at 3 a.m. from a Russian investor who owned 2% of the firm and wanted to know if Divecha and GMO were interested in buying it. "I said, 'Ok, what is the bid-ask on this?' because one of the first things you learn in a crisis is you never say, 'What's the price?'" Divecha said. "There's no such thing as a price in a crisis." The investor was asking for a dollar a share, but the current bid was for 50 cents. Annoyed at being woken up, and knowing that several failed New York-based hedge funds were due to liquidate their shares in the company soon, Divecha said he would buy his stake for 23 cents a share and that the offer was good for a minute. The investor accepted. "I am convinced that had I said 25 cents, he would not have taken it," Divecha said. "When I said 23 cents, I was using something I call the illusion of precision — that somehow he thought that I had done some complicated math and come up with 23 cents." Divecha held the stock for four to five years before selling it for around $15 per share, he said. Que Nguyen, CIO at Research Affiliates During the pandemic in early 2020, when the price of oil went negative, Nguyen had an idea: Get paid to hold oil. However, it's hard for a retail investor to take delivery of physical crude. Nguyen decided to approach the oil trade by gaining exposure to MLPs, or Master Limited Partnerships, which are generally companies that process and move oil. She did this via investments in specific ETFs. With the sector broadly cheap, casting a wide net made this the simplest approach. "It's kind of like the question do you want to look for the needle in a haystack, or do you want to buy the haystack?" Nguyen said. "When the haystack is full of great needles, you just want to buy the haystack." As it became clear that the world would normalize and reopen, her investment returned 50%. She eventually closed the position and transferred the proceeds to her donor-advised fund, which allows someone to set aside money they intend to donate. Nguyen's favorite charities to donate to include those focusing on education and food security in New York City. Bill Smead, manager of the Smead Value Fund Amid the chaos of the 2008 crash, Smead — a top 1% investor, according to Morningstar data — noticed eBay trading at $11 a share and saw a bargain. While he liked the business model, Smead was more drawn to the fact that the company owned 100% of PayPal, 100% of StubHub, and 30% of Skype. They also had the equivalent of $3 per share in cash and were debt-free, he said. At Thanksgiving that year, Smead had a broker who was a family friend over, and remembers telling him about the stock. "I said, 'When you go back to your office on Monday, you call every single one of your clients and get them to buy a bunch of this stock and then never sell it," Smead said. Today, eBay trades at around $77 a share, and PayPal has split into a separate stock. 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Politico
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He's being assisted by a well-funded super PAC that is barred from coordinating with his campaign. Fundraising and spending for Cuomo's comeback bid have come under scrutiny since his late entrance into the Democratic primary. Campaign finance regulators have accused Cuomo and the super PAC, Fix the City, of improperly coordinating and last week fined him $675,000. The board in April withheld more than $600,000 in public matching funds on similar grounds. Regulators suspect Cuomo used a 'red boxing' strategy of passing information to Fix the City on his campaign website for preferred messaging and strategy. Cuomo's campaign and the super PAC have insisted they are adhering to campaign finance laws. In response to Lerner's charges, Coffey said his firm routinely conducts and releases polls. 'In all instances, the polls we have commissioned over the years are not done in coordination with, requested by, or shared with any campaigns. We've done at least four in the last 12 months on a range of political and public policy topics,' he said. He also said his work for Cuomo — both the Orthodox Jewish outreach and media advice — follow his career-long pattern of volunteering for political campaigns, which he said is 'in accordance with CFB rules.' 'As this election cycle progressed I began volunteering with the Cuomo campaign as well, just as I did with Chris Quinn's 2013 mayoral campaign,' Coffey said. 'I do not generally provide paid services to individual political candidates, and haven't in four years.' (Coffey ran Andrew Yang's 2021 mayoral campaign.) In his statement, he acknowledged Smith continues to work for Tusk's clients while being paid to consult for Cuomo's campaign. 'To suggest otherwise is demeaning, absurd and runs contrary to the experience of our clients. Ask anyone In the capital in the last four weeks,' Coffey said. In her letter, Lerner asked about the particulars of Smith's arrangement with the Cuomo campaign, whether Tusk disclosed or registered any campaign-related expenditures like the two polls and whether Cuomo has reported any coordination with Tusk or its partners. The head of Honan Strategy Group, which conducted the two polls in question, has penned op-eds touting Cuomo's strength with voters. Cuomo campaign spokesperson Rich Azzopardi knocked Lerner and the group's spokesperson Alexis Grenell as 'longtime Cuomo antagonists (who) know they can't beat Andrew Cuomo at the ballot box' and referred to this letter as 'cynical attempts at election interference.' He also cited other campaigns' work with lobbyists, though Coffey's arrangement is unique given that he is not being paid. 'Individuals are permitted to volunteer on campaigns without it being considered a contribution,' Azzopardi said. 'And for months, many entities — including an anti-Cuomo PAC with no discernable sources of funding, AARP, an outside group looking to support anyone but Cuomo, and apparently the Working Families Party — all did polls and publicly released them.' POLITICO obtained slides from the Working Families Party's poll over the weekend. The third party, which is running an anti-Cuomo slate, then followed up with further information about its survey. 'We understand early voting is in 11 days and our opponents will try any tactic possible to slow our momentum, but it won't work: New Yorkers know Andrew Cuomo is the only candidate in this race with the experience, record of accomplishment and vision to get the city back on track,' Azzopardi said. Tusk Strategies is also running a 501(c)(4) called 'Restore Sanity NYC' whose literature mirrors Cuomo's campaign messaging — including a photo of the renovated LaGuardia Airport, a project he oversaw as governor. The group's structure allows for its donors to be shielded from public view for the duration of the race while raising and spending unlimited amounts of money. A Tusk Strategies spokesperson said Coffey was walled off from being involved with Restore Sanity NYC's effort. An April 16 document reviewed by POLITICO memorialized the arrangement preventing Coffey and Smith from coordinating with the group while they are working on Cuomo's campaign.
