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BURBERRY GROUP PLC

Burberry, a British luxury monobrand that is more than 160 years old, is best known for its outerwear and signature plaid. It has a global presence, with 32% of revenue generated in Europe, 42% in Asia, and 25% in North America. Apparel contributes about 60% of sales.

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The luxury goods industry is preparing for a substantial decline in sales, attributed to China&#39;s subdued demand and challenging comparisons with the sales spike following the COVID-19 pandemic last year.

Prada, Gucci, Louis Vuitton Brace For Sales Slump As China&#39;s Economic Turbulence Hits Luxury Market

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Burberry shares were down 7% in morning trading, extending losses over the last year to 44%. Louis Vuitton and Kering SA also declined.

Burberry Trims Profit Outlook: Are Luxury Goods Losing Charm?

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Burberry Group Plc (OTC: BURBY) registered a 

British Fashion Brand Burberry&#39;s Q1 Comps Jump 18%

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Another quarterly earnings season is about to kick off.

This Week: JPMorgan, Pepsi, Delta Air Lines, ConAgra Among Companies To Report Earnings

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Elevating Luxury: Burberry Group&#39;s Brand Repositioning Amid Robust Demand - Analyst Raises Price Target Ahead Of FY23 Earnings

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On Monday, shares of Burberry Group (OTC: BURBY) experienced volatile short activity. After the activity, the stock price went up +2.33% to $29.39.

The overall sentiment for BURBY has been Bullish.

Short Volatility Alert: Burberry Group


	British luxury brand Burberry Group ADR (OTC: BURBY) reported its second-quarter FY23 comparable store sales growth of 11%.


British Fashion Brand Burberry&#39;s H1 Sales Climb 11%; Unveils Growth Strategy

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iPhone 14 Popular In China?, Netflix May Lose Comics, Elon Musk&#39;s Starlink Slows, Byron Allen Faces $10B Lawsuit And More Top Financial Media Stories Monday, Sept. 26

Burberry Finance Chief Joins GSK As First Woman CFO

British Fashion Brand Burberry&#39;s CFO, COO Julie Brown To Step Down

BURBERRY GROUP PLC S/ADR by Burberry Group Plc

Burberry Group PLC

The luxury goods industry is preparing for a substantial decline in sales, attributed to China&#8217;s subdued demand and challenging comparisons with the sales spike following the COVID-19 pandemic last year.
What Happened: Investors are bracing for a sharp fall in sales as luxury brands reveal their Q1 results. The anticipated decline is linked to weak demand from China, and Reuters reported that compared with last year, when COVID-19 restrictions were lifted in mainland China, a sales surge was resulting.
LVMH Moet Hennessy Louis (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LVMUY#OTC">LVMUY</a>), the world&#8217;s largest luxury conglomerate, will be the first to announce results on Apr. 16, followed by competitors Kering (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PPRUF#OTC">PPRUF</a>), Prada (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PRDSY#OTC">PRDSY</a>), and Hermes International (OTC:<a class="ticker" href="https://www.benzinga.com/stock/HESAF#OTC">HESAF</a>) a week later. Burberry Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BURBY#OTC">BURBY</a>) and Compagnie Financière Richemont SA (OTC:<a class="ticker" href="https://www.benzinga.com/stock/CFRUY#OTC">CFRUY</a>) will report in May.
See Also: <a href="EXCLUSIVE: 'China's Stock Market Has Bottomed, Indicating A Potentially Rare Opportunity,' Says Investment Strategist">EXCLUSIVE: &#8216;China&#8217;s Stock Market Has Bottomed, Indicating A Potentially Rare Opportunity,&#8217; Says Investment</a>
A surprise warning from Kering last month that Q1 sales would be down by 10% rather than the expected 3% has already cast a pall over the reporting season. The group attributed the sales slump in Asia to its star label, Gucci. This underperformance has sparked worries that other luxury fashion labels might struggle in China.
&#8220;We&#8217;ve got a lasting crisis and we don&#8217;t know where things are heading,&#8221; said Olivier Abtan, a consultant with AlixPartners. He characterized the slump as unparalleled, stating that &#8220;all growth engines have been off for a number of quarters.&#8221;
HSBC analysts have also observed that Chinese tourists in Hong Kong, Macau, and Singapore appear to be spending less. This uncertainty impacts the valuation of companies like Kering, which is trailing its competitors.
Why It Matters: The luxury sector&#8217;s outlook is clouded by geopolitical tensions and economic uncertainties in China. The U.S. Treasury Secretary, Janet Yellen, recently warned <a href="https://www.benzinga.com/news/24/04/38138081/janet-yellen-threatens-beijing-with-us-sanctions-standing-in-mainland-china-if-they-assist-russia-in">Chinese banks and exporters</a> against aiding Russia's military capacity, citing potential sanctions. This development could further dampen China&#8217;s economic prospects and impact the luxury sector.
Furthermore, <a href="https://www.benzinga.com/news/24/04/38135736/biden-set-to-warn-beijing-as-china-philippines-feud-over-world-war-2-era-ship-in-south-china-sea-und">tensions are escalating</a> in the South China Sea, with President Joe Biden expected to express serious concerns over China's increasing activities in the region. These geopolitical issues, coupled with the ongoing economic challenges, are likely to impact further consumer sentiment and spending in China, a key market for luxury brands.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/04/38131596/yellen-warns-china-hands-off-russias-war-efforts-in-ukraine-or-face-significant-consequences?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Yellen Warns China: Hands Off Russia&#8217;s War Efforts In Ukraine Or Face &#8216;Significant Consequences&#8217;</a>
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Prada, Gucci, Louis Vuitton Brace For Sales Slump As China's Economic Turbulence Hits Luxury Market

Burberry Group PLC (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BURBY#OTC">BURBY</a>) registered a retail revenue of £706 million, a decline of 7% Y/Y on a reported basis and 2% Y/Y on constant currencies in 13 weeks, ending on <a href="https://tools.euroland.com/tools/PressReleases/GetPressRelease/?ID=4444457&amp;lang=en-GB&amp;companycode=services" target="_blank" rel="noreferrer noopener">Dec. 30, 2023</a>.
Comparable store sales declined 4% Y/Y, and contribution from space rose 2% Y/Y in nine months ended-FY23.
By region, comparable store sales rose 3% Y/Y in Asia Pacific, while it declined 5% Y/Y in EMEIA and 15% Y/Y in Americas in Q3 FY24.
In Asia Pacific, Mainland China rose 8% Y/Y, South Asia Pacific was up 2% Y/Y, and Japan increased 9% Y/Y, while South Korea witnessed a decline of 10% Y/Y.
Burberry&#8217;s shares were down 7% in morning trading, extending losses over the last year to 44% and other luxury stocks like Lvmh Moet Hennessy Louis Vuitton SE (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LVMHF#OTC">LVMHF</a>) and Kering SA (OTC:<a class="ticker" href="https://www.benzinga.com/stock/PPRUY#OTC">PPRUY</a>) both declined 2% in reaction to this, as per Reuters.
Outlook: Burberry noted a slowdown in luxury goods demand, thus lowering the expectations of adjusted operating profit for FY24 to £410 million to £460 million, from&nbsp;<a href="https://tools.eurolandir.com/tools/Pressreleases/GetPressRelease/?ID=4422145&amp;lang=en-GB&amp;companycode=uk-brby&amp;v=redesign" target="_blank" rel="noreferrer noopener">$552 million-$668 million earlier.</a>
The London-based company remains committed to achieving a revenue of £4 billion. In particular, the company projects wholesale revenue to decline by a high-single-digit percentage in fiscal 2024. 
Burberry now expects a currency headwind of c.£120 million to revenue and c.£60 million to&nbsp;<a href="https://www.benzinga.com/calendars/guidance" target="_blank" rel="noreferrer noopener">adjusted operating profit</a>.
Also, Burberry expects capex to be around £200 million in FY23 and has completed a share buyback worth £400 million as of Oct. 31, 2023.
Price Action: BURBY shares closed lower by 2.29% to $17.50 on Thursday.
Now Read: <a href="https://www.benzinga.com/news/large-cap/24/01/36610060/producer-price-index-slows-more-than-expected-to-1-in-december-signals-softening-price-pressures">Producer Price Index Slows More Than Expected To 1% In December, Signals Softening Price Pressures</a>

Burberry Group Plc&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/burby#OTC">BURBY</a>) registered a&nbsp;<a class="editor-rtfLink" href="https://www.burberryplc.com/content/dam/burberryplc/corporate/documents/investors/results-reports/2023/q1-results/Q1%20FY24%20Press%20Release%2014.07.23.pdf.downloadasset.pdf" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">comparable store sales increase of 18%</a>&nbsp;year over year in the first quarter, with all regions outside the Americas showing growth.&nbsp;
Continued strength in core outerwear and leather goods categories bolstered growth.
For the quarter under review,&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/calendars/earnings" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">retail revenue rose 16.6% to&nbsp;</a>&pound;589 million,&nbsp;
The company gained primarily from Mainland China, recovering from COVID-19-related lockdowns in the previous year.&nbsp;
Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/analyst-ratings/analyst-color/23/05/32399994/elevating-luxury-burberry-groups-brand-repositioning-amid-robust-demand-analyst-rai" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Elevating Luxury: Burberry Group&#39;s Brand Repositioning Amid Robust Demand - Analyst Raises Price Target Ahead Of FY23 Earnings</a>
EMEIA, Japan, and South Asia Pacific showed good double-digit growth, more than offsetting declines in the Americas.&nbsp;
Asia Pacific comps increased 36%, with Mainland China up 46%.&nbsp;
In the quarter under review, Burberry opened/refurbished 19 stores, reopening the flagship store on New Bond Street, London.
Outlook
Burberry&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/calendars/guidance" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">maintained current-year guidance</a>&nbsp;of high single-digit revenue CAGR from FY20 base, equating to low double-digit growth in FY24.
Burberry maintains a medium-term target of &pound;4 billion in revenue.
&quot;While mindful of the uncertain macroeconomic environment, we are confident of achieving our FY24 and medium-term guidance,&quot; said Jonathan Akeroyd, Chief Executive Officer.
Price Action:&nbsp;BURBY shares are up 0.61% to $27.87 on the last check Friday.

British Fashion Brand Burberry's Q1 Comps Jump 18%

Another quarterly earnings season is <a href="https://www.benzinga.com/calendars/earnings?date_from=2023-07-10&amp;date_to=2023-07-14">about to kick off</a>.
In the first half of the year, the Dow Jones Industrial Average rebounded from a negative return in 2022. Through the first six months, 15 of the 30 stocks that<a href="https://www.benzinga.com/news/23/06/33080239/15-stocks-up-15-stocks-down-a-look-at-the-dow-jones-industrial-average-halfway-through-2023"> make up the composite index</a> were up, while 15 were down.
This week, expect plenty of investors and analysts alike to chime in on which stocks will be the most resilient heading into the second half of 2023 <a href="https://www.benzinga.com/news/23/07/33158559/recession-is-not-completely-off-the-table-despite-healthy-economy-janet-yellen">despite persistent inflation</a>.
Here are some of the corporates slated to announce earnings in the coming days:
<h2>MONDAY, July 10</h2>
<ul>
<li>National Grid plc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ngg#NYSE">NGG</a>), annual general meeting</li>
<li>Helen of Troy Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hele#NASDAQ">HELE</a>), Q1 2024 earnings</li>
</ul>
<h2>TUESDAY, July 11</h2>
<ul>
<li>America Movil SAB de CV (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/amx#NYSE">AMX</a>), Q2 2023</li>
<li>Vision Marine Technologies Inc (NASDAQ: VMR), Q3 2023 earnings</li>
<li>Velocity Composites PLC (LON: VEL), Q2 2023 earnings</li>
</ul>
<h2>WEDNESDAY, July 12</h2>
<ul>
<li>Burberry plc (OTC: <a class="ticker" href="https://www.benzinga.com/stock/burby#OTC">BURBY</a>), annual general meeting</li>
<li>Tata Consultancy Services Ltd (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tcs#NYSE">TCS</a>), Q1 2024 earnings</li>
<li>HCL Technologies (NSE: HCLTECH), Q1 2024 earnings</li>
<li>DNB Bank ASA (OTC: <a class="ticker" href="https://www.benzinga.com/stock/dnbby#OTC">DNBBY</a>), Q2 2023 earnings</li>
<li>Aeon Co. Ltd (OTC: <a class="ticker" href="https://www.benzinga.com/stock/aonnf#OTC">AONNF</a>), Q1 2023 earnings</li>
<li>Ocean Power Technologies Inc (AMEX:OPTT), Q4 2023 earnings</li>
<li>American West Metals Ltd (ASX: AW1), Q4 2023 earnings</li>
</ul>
<h2>THURSDAY, July 13</h2>
<ul>
<li>PepsiCo Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/pep#NASDAQ">PEP</a>), Q2 2023 earnings</li>
<li>Progressive Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pgr#NYSE">PGR</a>), Q2 2023 earnings</li>
<li>Fast Retailing Co (OTC: <a class="ticker" href="https://www.benzinga.com/stock/frcoy#OTC">FRCOY</a>), Q3 2023 earnings</li>
<li>VMware Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vmw#NYSE">VMW</a>), annual general meeting</li>
<li>Cintas Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ctas#NASDAQ">CTAS</a>), Q4 2023 earnings</li>
<li>Fastenal Co (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fast#NASDAQ">FAST</a>), Q2 2023 earnings</li>
<li>Delta Air Lines Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/dal#NYSE">DAL</a>), Q2 2023 earnings</li>
<li>Wipro Ltd (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wit#NYSE">WIT</a>), Q1 2024 earnings</li>
<li>ConAgra Foods Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cag#NYSE">CAG</a>), Q4 2023 earnings</li>
<li>BT Group plc (OTC: <a class="ticker" href="https://www.benzinga.com/stock/btgof#OTC">BTGOF</a>), annual general meeting</li>
<li>Western Alliance Bancorporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/wal#NYSE">WAL</a>), Q2 2023 earnings</li>
<li>Dr. Martens (OTC: <a class="ticker" href="https://www.benzinga.com/stock/docmf#OTC">DOCMF</a>), annual general meeting</li>
<li>BurgerFi International Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bfi#NASDAQ">BFI</a>), annual general meeting</li>
<li>Rocky Mountain Chocolate Factory Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/rmcf#NASDAQ">RMCF</a>), Q1 2024 earnings</li>
</ul>
<h2>FRIDAY, JULY 14</h2>
<ul>
<li>JPMorgan Chase &amp; Co (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jpm#NYSE">JPM</a>), Q2 2023 Earnings</li>
</ul>
Separately, the June consumer price index (CPI) report is set to be released Wednesday at 8:30 a.m. ET. Whether the results inspire a continued stock-market rally, or dampen the moods of bullish investors remains to be seen.
<a href="https://www.benzinga.com/analyst-ratings/analyst-color/23/06/32838442/energy-driven-cpi-drop-in-may-contrasts-with-persistent-core-cpi-5-economists-specu">The June CPI reading</a> from the Bureau of Labor Statistics showed the inflation rate coming in at 4% year-on-year&nbsp;against the 4.1% forecasted, and marking a&nbsp;substantial drop from the <a href="https://www.benzinga.com/economics/macro-economic-events/23/05/32313915/cpi-inflation-slows-to-4-9-in-april-fueling-market-hopes-of-fed-rate-pause-in-jun">4.9% reported in April</a>.
Now Read: <a href="https://www.benzinga.com/news/23/07/33155886/second-wave-of-banking-crisis-incoming-crash-could-be-worse-than-2008-global-financial-crisis-says-e">Second Wave Of Banking Crisis Incoming, Crash Could Be Worse Than 2008</a>

<ul>
<li>Telsey Advisory Group&nbsp;analyst Dana Telsey reiterated the Market Perform rating on the shares of&nbsp;Burberry Group PLC&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/burby#OTC">BURBY</a>) and raised the&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/quote/BURBY" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">price target from &pound;24 to &pound;28.</a></li>
<li>The luxury fashion brand will report FY23 earnings on Thursday, May 18.</li>
<li>Ahead of earnings, the analyst raised the estimates to reflect momentum across the international luxury space following strong reports from several peers over the last few weeks.</li>
<li>The analyst expects Q4 retail comparable growth of 14% (from +7% prior), in-line with the market&#39;s expectations.</li>
<li>2H23 sales growth is expected to be 10% to &pound;1.77 billion (from &pound;1.73 billion) versus the consensus of &pound;1.76 billion, FY23 EPS of &pound;1.20 versus &pound;0.94 last year and consensus of &pound;1.20.</li>
<li>On the heels of last year&#39;s leadership transitions, including new CEO Jonathan Akeroyd and new creative director Daniel Lee, Burberry announced two more leadership appointments since its FQ3 trading update in January, noted the analyst.</li>
<li>Additionally, Burberry announced it was acquiring a business from Italian supplier Pattern SpA for quilt and down ready-to-wear production in late March for &euro;21 million.</li>
<li>The analyst expects to see more clarity on the new leadership and acquisition.</li>
<li>The analyst sees BURBY as positioning itself for healthier long-term growth as it elevates its brand, product and customer experience, by raising AURs and driving new customer growth along with investments in stores and digital capabilities.</li>
<li>However, the company has been working to reposition the brand through a robust luxury demand environment, which could potentially slow against difficult compares and an uncertain macro backdrop.</li>
<li>Price Action: BURBY shares are trading lower by 0.63% at $31.30 on the last check Monday.</li>
</ul>

Elevating Luxury: Burberry Group's Brand Repositioning Amid Robust Demand - Analyst Raises Price Target Ahead Of FY23 Earnings

On Monday, shares of Burberry Group (OTC: <a class="ticker" href="https://www.benzinga.com/stock/burby#OTC">BURBY</a>) experienced volatile short activity. After the activity, the stock price went up +2.33% to $29.39.
The overall sentiment for BURBY has been Bullish.
The signal from the volatility alert is trending Bearish. Therefore, the recommendation is to Strong Sell.
The volatility alert was produced on the prior trading date, 2/13/2023 with a volatility change of +249.97%. The current volatility indicator stands at 15.29.
Overview: 
The securities lending volatility indicator is produced by Tidal Markets, in partnership with Benzinga Insights. Securities lending primarily serves the purpose of providing liquidity to short sellers. When unusual activity occurs in the securities lending markets, it acts as an upstream indicator to what is likely to occur downstream in the regular stock market.
Understanding the Volatility Alert: 
Overall sentiment is considered &quot;bear&quot; when broad market activity of the stock has been shown to indicate a negative directional basis, or is considered &quot;bull&quot; when indicating a positive directional basis. The securities lending volatility indicator provides a signal when it detects unusual short activity. Unusual short activity is based off a computer generated algorithmic formula utilizing securities lending trade details such as the volume of shares being shorted, the rate being paid to short the shares, and the type of collateral being posted - amongst other variables. The current volatility is the respective trading day&#39;s calculated securities lending volatility value. The volatility percentage change is the percentage difference in volatility between the two most recent days. The recommendation is a suggestive strategy, inferred from the strength of the Signal Trending, Current Volatility, and Volatility % Change. Recommendations may include, &quot;Strong Buy&quot;, &quot;Strong Sell&quot;, &quot;Increase Short Exposure&quot;, &quot;Decrease Short Exposure&quot;, or &quot;Market Neutral&quot;.
ANY INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE OR IMPLY INVESTMENT ADVICE

<ul>
<li>British luxury brand&nbsp;Burberry Group ADR&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/burby#OTC">BURBY</a>)&nbsp;reported its second-quarter FY23 comparable store&nbsp;sales <a href="https://www.burberryplc.com/en/news/financial/2022/-interim-results-for-26-weeks-ended-1-october-2022--.html">growth </a>of 11%.</li>
<li>The progress happened due to increased tourist spend.</li>
<li>The brand reported first-half revenue of &pound;1.35 billion, a 5% Y/Y increase in constant exchange rates, and 11% on a reported FX basis.</li>
<li>Adjusted operating profit for the period climbed 6% at CER to &pound;238 million.</li>
<li>Chief Executive Officer Jonathan Akeroyd presented the strategy for the next phase for Burberry, including a target to double sales of leather goods, shoes, and women&#39;s ready to wear.</li>
<li>&quot;Burberry has an extraordinary legacy, a unique British heritage and a very strong platform to build on, as shown in our half-year results,&quot; said Akeroyd.</li>
<li>The strategy also aims to refocus on Britishness and strengthen the connection with British design, craft and culture.</li>
<li>Price Action:&nbsp;BURBY shares closed lower by 2.82% at $23.23 on Wednesday.</li>
<li>Photo Via Company</li>
</ul>

British Fashion Brand Burberry's H1 Sales Climb 11%; Unveils Growth Strategy

iPhone 14 Popular In China?, Netflix May Lose Comics, Elon Musk's Starlink Slows, Byron Allen Faces $10B Lawsuit And More Top Financial Media Stories Monday, Sept. 26

<ul>
<li>GSK plc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gsk#NYSE">GSK</a>) has&nbsp;<a class="editor-rtfLink" href="https://www.gsk.com/en-gb/media/press-releases/iain-mackay-chief-financial-officer-to-retire-from-gsk-julie-brown-appointed-as-successor/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">appointed</a>&nbsp;Julie Brown as its first-ever female chief financial officer to succeed Iain Mackay.</li>
<li>Mackay, 60, will retire next year after serving as GSK&#39;s finance chief for nearly four years.</li>
<li>Julie will join GSK in April 2023 and will work with Iain to transition responsibilities, taking responsibility as CFO and as an Executive Director of GSK on 1 May 2023.</li>
<li>Ms. Brown currently serves as Chief Operating and Financial Officer at the luxury fashion brand&nbsp;Burberry Group plc&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/burby#OTC">BURBY</a>) (OTC: <a class="ticker" href="https://www.benzinga.com/stock/bbryf#OTC">BBRYF</a>). Julie has previously worked at&nbsp;AstraZeneca plc&nbsp;(NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/azn#NASDAQ">AZN</a>) and&nbsp;Smith &amp; Nephew plc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/snn#NYSE">SNN</a>) as a non-executive director and Audit Chair of Roche Holdings AG.</li>
<li>Also Read:&nbsp;<a class="editor-rtfLink" href="https://www.benzinga.com/general/biotech/22/09/28929648/haleon-shares-pop-after-rejecting-zantac-indemnification-requests-from-gsk-pfizer" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Haleon Shares Pop After Rejecting Zantac Indemnification Requests From GSK, Pfizer</a>.</li>
<li>Mackay&#39;s retirement, which has been in discussion for some time, comes after GSK&#39;s spin-off of its large consumer health business,&nbsp;Haleon Plc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hln#NYSE">HLN</a>), in July to focus on prescription drugs and vaccines.</li>
<li>Investors may be surprised to see Iain Mackay&#39;s retirement after only a few years in the role and the announcement coming only months after announcing the departure of head of R&amp;D Hal Barron, Reuters&nbsp;<a class="editor-rtfLink" href="https://www.reuters.com/business/healthcare-pharmaceuticals/gsk-picks-burberrys-julie-brown-cfo-2022-09-26/" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">quoted</a>&nbsp;citing J.P. Morgan note.</li>
<li>&quot;Post the recent separation of the consumer health business, there may have been a desire to increase Healthcare experience in GSK&#39;s management team,&quot; they wrote.</li>
<li>Price Action:&nbsp;GSK shares are down 0.75% at $29.14&nbsp;during the premarket session on the last check Monday.</li>
</ul>

<ul>
<li>Burberry Group ADR&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/burby#OTC">BURBY</a>) stated&nbsp;<a class="editor-rtfLink" href="https://www.burberryplc.com/en/news/corporate/2022/board-change1.html" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">Julie Brown had notified the Board&nbsp;</a>of her intention to step down as Chief Operating and Financial Officer at the close of the company&rsquo;s current financial year on April 1, 2023.</li>
<li>Julie Brown will leave Burberry following six years of service to take up an opportunity outside the luxury industry.&nbsp;</li>
<li>The company said the process of finding a successor is underway.</li>
<li>In its trading update in July, the company said its performance in the quarter continued to be impacted by lockdowns in Mainland China, resulting in Q1 comparable store sales growth of 1%.</li>
<li>Price Action:&nbsp;BURBY shares are trading lower by 8.58% at $17.74 on the last check Friday.</li>
</ul>

British Fashion Brand Burberry's CFO, COO Julie Brown To Step Down

CNBC
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/07/28079259/augmented-supply-best-way-to-balance-rising-oil-prices-says-oecd-chief" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Augmented Supply Best Way To Balance Rising Oil Prices, Says OECD Chief</a>
<ul>
<li>The secretary-general of the Organization for Economic Cooperation and Development (OECD), Mathias Corman, said that boosting supply is the best to stabilize the rising oil prices.</li>
<li>He also said that alternatives to Russian oil are available to the world.</li>
<li>Cormann said Russia&rsquo;s war on Ukraine has imposed &ldquo;a heavy burden on the world. It&rsquo;s leading to slower growth, higher inflation, higher energy prices, higher food prices, food security challenges, so the world would clearly be better off if Vladimir Putin stopped this war.&rdquo;</li>
</ul>

Reuters
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/07/28079632/amazon-plans-to-recruit-4000-workers-in-britain" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Amazon Plans To Recruit 4,000 Workers In Britain</a>
<ul>
<li>Amazon.com Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) is planning to hire 4,000 workers in Britain in 2022, including fulfillment centers in Wakefield and Knowsley, Reuters reported.</li>
<li>The move will increase the company&rsquo;s permanent workforce in Britain to 75,000.</li>
<li>The recruitment plan will make the company one of the country&rsquo;s top 10 private-sector employers.</li>
</ul>

Wall Street Journal
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/07/28076816/amazon-moves-to-reduce-house-brand-items-due-to-lackluster-sales-amid-antitrust-pushback" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Why Your Favorite Amazon Brand Items Could Disappear In The Near Future</a>
<ul>
<li>Amazon.com, Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) is reportedly slashing its selection of private-label items and has discussed the possibility of exiting the segment altogether to reduce regulatory pressure.</li>
<li>The Jeff Bezos-founded e-commerce giant&rsquo;s leadership told its private-label team to reduce the list of items and not to reorder many, reported the Wall Street Journal, citing people familiar with the matter.</li>
<li>Amazon executives discussed reducing the private-label products by more than half in the United States, a source told the Journal.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/07/28079041/payments-processor-stripe-lowers-internal-valuation-by-28-wsj" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Payments Processor Stripe Lowers Internal Valuation By 28%</a>
<ul>
<li>Payments firm Stripe, which was last valued by private investors at $95 billion, has cut the internal value of its shares by 28%, reported Wall Street Journal citing people familiar with the matter.</li>
<li>Stripe informed staff that the internal share price was $29, compared to $40 in the most recent internal valuation, known as a 409A valuation. According to the source, the move reduced the implied valuation of those shares to $74 billion.</li>
<li>Stripe approved the lower share price effective June 30; however, the source said it didn&rsquo;t explain the decision to lower its internal valuation.</li>
</ul>

Bloomberg
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/07/28077279/volkswagens-vertical-integration-into-battery-manufacturing-faces-roadblock-amid-supply-challenges-r" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Volkswagen&rsquo;s Battery Business Faces Supply-Chain Jolt With IPO Plans On Horizon: Report</a>
<ul>
<li>German automaker Volkswagen AG&rsquo;s (OTC: <a class="ticker" href="https://www.benzinga.com/stock/vwagy#OTC">VWAGY</a>) PowerCo global battery manufacturing business, which it plans to plan to spin-off in an initial public offering in 2023, is facing the impact of supply chain challenges.</li>
<li>PowerCo is scouting sources for securing raw materials for the plant amid rising input prices and logistical challenges, the report said, citing Kai Alexander Mueller, CFO of the unit.</li>
<li>The report noted that the company plans to tie up with Belgium-based miner Umicore SA (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/umicy#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">UMICY</a>) for sourcing cathode materials, Robert Bosch for machinery, and Vulcan Energy Resources Limited (OTC: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/vulnf#OTC" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">VULNF</a>) for battery-grade lithium hydroxide.</li>
</ul>
Benzinga
<a class="editor-rtfLink" href="https://www.benzinga.com/news/earnings/22/07/28078307/unitedhealth-q2-earnings-surpass-street-view-led-by-growth-in-both-segments-lifts-fy22-earnings-out" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">UnitedHealth Q2 Earnings Surpass Street View Led By Growth In Both Segments, Lifts FY22 Earnings Outlook</a>
<ul>
<li>UnitedHealth Group Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/unh#NYSE">UNH</a>) has reported Q2 FY22 sales of $80.3 billion, up 13% Y/Y, beating the consensus of $79.68 billion, with double-digit growth at both Optum and UnitedHealthcare.</li>
<li>Adjusted EPS of $5.57 surpassed the consensus of $5.20 and was better than $4.70 a year ago.</li>
<li>The company generated an operating cash flow of $6.9 billion or 1.3x net income.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/07/28079042/toyota-motor-revamps-crown-range-launches-new-models" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Toyota Revamps Crown Range, Launches New Models</a>
<ul>
<li>Toyota Motor Corp (NYSE: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/tm#NYSE" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">TM</a>) has unveiled four new models of its Crown range to reimagine the 67-year-old brand.</li>
<li>The four new models are a sedan, an SUV, a station wagon, and a crossover, which combines a sedan with an SUV.</li>
<li>Two types of powertrains, 2.4-liter Turbo Hybrid System and Parallel Hybrid System, are available.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cryptocurrency/22/07/28077318/mizuho-analysts-see-problematic-trend-for-coinbase-market-share-bleeds" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Coinbase Price Target Cut By Mizhuo: Analysts See &lsquo;Problematic Trend&rsquo;</a>
<ul>
<li>Analysts at Mizuho Securities see more trouble ahead for Coinbase Global Inc (NASDAQ: <a class="editor-rtfLink" href="https://www.benzinga.com/stock/coin#NASDAQ" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">COIN</a>) as it continues to lose market share among crypto exchanges.</li>
<li>The Coinbase Analyst: Mizuho analyst Dan Dolev lowered the price target on Coinbase stock from $45 to $42 and kept a &ldquo;Neutral&rdquo; rating.</li>
<li>The Coinbase Thesis: In a July 14 note to clients seen by Benzinga, Mizuho analysts led by Dolev drew attention to Coinbase&rsquo;s declining trading volume over the last two quarters.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/fintech/22/07/28078757/federal-regulators-fine-bank-of-america-over-botched-disbursement-unemployment-benefits" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Federal Regulators Penalizes Bank of America Over Botched Disbursement Unemployment Benefits</a>
<ul>
<li>Regulators for unfair and deceptive practices slapped a fine of $225 million on Bank of America Corp (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bac#NYSE">BAC</a>) related to a prepaid card program to distribute unemployment insurance and other public-benefit payments at the height of the pandemic.</li>
<li>The Office of the Comptroller of the Currency ordered BAC to pay $125 million and provide remediation to consumers harmed by the practices.</li>
<li>The card program served 12 states.</li>
<li>The Consumer Financial Protection Bureau also fined $100 million, accusing the bank of &ldquo;botching the disbursement of state unemployment benefits at the height of the pandemic.&rdquo; The order would require consumers to be reimbursed, the Bureau noted.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/07/28079358/burberry-says-u-s-demand-for-sneakers-and-slides-fades" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Burberry Clocks 1% Comp Sales Growth In Q1 Hit By China Lockdowns</a>
<ul>
<li>British luxury brand Burberry Group (OTC: <a class="ticker" href="https://www.benzinga.com/stock/burby#OTC">BURBY</a>) reported a Q1 comparable store sales increase of 1%, impacted by the lockdowns in China. Excluding Mainland China, comparable store sales grew by 16%.</li>
<li>Sales in the Asia Pacific fell 16%, with Mainland China down 35%. Comparable store sales in the Americas decreased by 4%.</li>
<li>In contrast, sales in EMEIA grew 47% as the business annualized the lockdowns in Q1 FY22.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cryptocurrency/22/07/28077734/bitcoin-holds-above-20-000-heres-the-top-crypto-movers-for-friday" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Bitcoin Holds Above $20,000, Here&rsquo;s The Top Crypto Movers For Friday</a>
<ul>
<li>Bitcoin BTC/USD, the world&rsquo;s largest cryptocurrency, breached the important $20,000 resistance level and surged past $20,600 on Friday.</li>
<li>However, traders remained cautious, with the US Federal Reserve expected to boost interest rates by as much as 100 basis points in a bid to curb spiking inflation, which would make riskier assets, including cryptos, less attractive as investments.</li>
<li>Popular altcoins, including Ethereum ETH/USD, Dogecoin DOGE/USD, and Solana SOL/USD, recorded gains over the past 24 hours.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/m-a/22/07/28079532/ericssons-6-2b-vonage-buyout-receives-us-panels-clearance" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Ericsson&rsquo;s $6.2B Vonage Buyout Receives US Panel&rsquo;s Clearance</a>
<ul>
<li>Telefonaktiebolaget LM Ericsson (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/eric#NASDAQ">ERIC</a>) received clearance from the Committee on Foreign Investments in the U.S. to complete its acquisition of Vonage Holdings Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vg#NASDAQ">VG</a>).</li>
<li>This represents the final requisite approval to complete the deal.</li>
<li>The parties now expect the Merger to close by July 21.</li>
<li>Ericsson agreed to acquire Vonage for $6.2 billion to expand its presence in the wireless enterprise and broaden its global offerings.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/07/28077457/donald-trump-could-announce-bid-to-become-president-as-early-as-september" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Donald Trump Could Announce Bid To Become President As Early As September</a>
<ul>
<li>Former President Donald Trump could announce his candidature for the next presidential elections as early as this fall.</li>
<li>Trump is looking to make an announcement that he&rsquo;s running for the presidency as early as September, reported The Washington Post, citing two people familiar with the matter.</li>
<li>One of the persons put the odds that Trump would make the announcement before the November midterms at &ldquo;70-30.&rdquo; Some others told the Post that the former U.S. leader could make the announcement earlier than September.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/news/22/07/28077294/facebook-is-testing-multiple-profiles-for-some-users-is-the-social-network-getting-soft-on-its-real" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Facebook Said To Be Testing Multiple Profiles For Some Users: Is The Social Network Getting Soft On Its Real-Name Policy?</a>
<ul>
<li>Meta Platform Inc&rsquo;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meta#NASDAQ">META</a>) Facebook will allow some users to have more than one profile.</li>
<li>Facebook users will be able to create up to four additional profiles, which will be linked to a user&rsquo;s original profile, reported the Verge.</li>
<li>Users will reportedly be able to switch between the profiles, and additional profiles will not require a real identity for display names.</li>
</ul>
<a class="editor-rtfLink" href="https://www.benzinga.com/markets/cryptocurrency/22/07/28079607/coinflex-allows-limited-withdrawals" style="color:#4a6ee0; background:transparent; margin-top:0pt; margin-bottom:0pt" target="_blank">Crypto CoinFLEX Allows Limited Withdrawals</a>
<ul>
<li>Cryptocurrency exchange CoinFLEX said it has enabled limited withdrawals for all users this week and continues to work with a laser focus on recovery plans.</li>
<li>Users will be able to withdraw their funds to the tune of 10%, except for flexUSD, which cannot be withdrawn until further notice.</li>
</ul>
Photo via Wikimedia Commons

$BTC

$ETH

COIN

ERIC

ERUS

iShares Trust Barclays 20+ Year Treasury Bond Fund

UMICY

VULNF

VWAGY

Benzinga Before The Bell: Donald Trump's Presidential Bid, Facebook Testing Multiple Profiles, UnitedHealth Q2 Earnings Growth And Other Top Financial Stories Friday, July 15

<ul>
<li>British luxury brand&nbsp;Burberry Group&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/burby#OTC">BURBY</a>) reported a Q1&nbsp;<a class="editor-rtfLink" href="https://www.burberryplc.com/en/news/financial/2022/first-quarter-trading-update.html" style="background-image:initial; background-position:initial; background-size:initial; background-repeat:initial; background-attachment:initial; background-origin:initial; background-clip:initial; margin-top:0pt; margin-bottom:0pt; color:#4a6ee0" target="_blank">comparable store sales increase of 1%</a>, impacted by the lockdowns in China. Excluding Mainland China, comparable store sales grew by 16%.</li>
<li>Sales in the Asia Pacific fell 16%, with Mainland China down 35%. Comparable store sales in the Americas decreased by 4%.</li>
<li>In contrast, sales in EMEIA grew 47% as the business annualized the lockdowns in Q1 FY22.</li>
<li>&quot;While the current macro-economic environment creates some near-term uncertainty, we are confident we can build on our platform for growth,&quot; said CEO Jonathan Akeroyd.</li>
<li>Price Action:&nbsp;BURBY shares closed lower by 0.99% at $19.56 on Thursday.</li>
</ul>

Retail Sales

Burberry Clocks 1% Comp Sales Growth In Q1 Hit By China Lockdowns

Telsey Advisory Group On Burberry Q1 Update: While Meaningfully Improved Full-Priced Selling Is An Encouraging Sign Of Elevated Brand Health The Outlook Requires Continued Investor Patience To See More Significant Operating Margin Growth

h2>Upgrades
According to HSBC, the prior rating for NIO Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) was changed from Hold to Buy. In the first quarter, NIO showed an EPS of $0.04, compared to $0.22 from the year-ago quarter. At the moment, the stock has a 52-week-high of $66.99 and a 52-week-low of $10.46. NIO closed at $45.60 at the end of the last trading period. 
For Discover Financial Services (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DFS#NYSE">DFS</a>), Citigroup upgraded the previous rating of Neutral to Buy. For the first quarter, Discover Financial had an EPS of $5.04, compared to year-ago quarter EPS of $0.25. The current stock performance of Discover Financial shows a 52-week-high of $125.38 and a 52-week-low of $45.40. Moreover, at the end of the last trading period, the closing price was at $115.26. 
For State Street Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STT#NYSE">STT</a>), UBS upgraded the previous rating of Neutral to Buy. In the first quarter, State Street showed an EPS of $1.47, compared to $1.67 from the year-ago quarter. The stock has a 52-week-high of $89.28 and a 52-week-low of $56.63. At the end of the last trading period, State Street closed at $79.59. 
Evercore ISI Group upgraded the previous rating for Norfolk Southern Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NSC#NYSE">NSC</a>) from In-Line to Outperform. Norfolk Southern earned $2.66 in the first quarter, compared to $2.58 in the year-ago quarter. At the moment, the stock has a 52-week-high of $295.14 and a 52-week-low of $169.15. Norfolk Southern closed at $253.78 at the end of the last trading period. 
RBC Capital upgraded the previous rating for Deutsche Bank AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DB#NYSE">DB</a>) from Underperform to Sector Perform. Deutsche Bank earned $0.57 in the first quarter, compared to $0.02 in the year-ago quarter. The current stock performance of Deutsche Bank shows a 52-week-high of $15.34 and a 52-week-low of $7.84. Moreover, at the end of the last trading period, the closing price was at $12.01. 
Morgan Stanley upgraded the previous rating for NOV Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOV#NYSE">NOV</a>) from Underweight to Equal-Weight. NOV earned $0.30 in the first quarter, compared to $0.41 in the year-ago quarter. At the moment, the stock has a 52-week-high of $18.02 and a 52-week-low of $7.70. NOV closed at $14.18 at the end of the last trading period. 
For Align Technology Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ALGN#NASDAQ">ALGN</a>), Stephens &amp; Co. upgraded the previous rating of Equal-Weight to Overweight. For the first quarter, Align Tech had an EPS of $2.49, compared to year-ago quarter EPS of $0.73. The current stock performance of Align Tech shows a 52-week-high of $647.20 and a 52-week-low of $267.63. Moreover, at the end of the last trading period, the closing price was at $616.79. 
For Argo Group International Holdings Ltd (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ARGO#NYSE">ARGO</a>), Compass Point upgraded the previous rating of Neutral to Buy. In the first quarter, Argo Gr Intl Hldgs showed an EPS of $0.44, compared to $0.36 from the year-ago quarter. The stock has a 52-week-high of $58.60 and a 52-week-low of $31.21. At the end of the last trading period, Argo Gr Intl Hldgs closed at $49.40. 
Stephens &amp; Co. upgraded the previous rating for MSC Industrial Direct Co Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MSM#NYSE">MSM</a>) from Equal-Weight to Overweight. For the third quarter, MSC Industrial Direct Co had an EPS of $1.42, compared to year-ago quarter EPS of $1.40. At the moment, the stock has a 52-week-high of $96.23 and a 52-week-low of $60.09. MSC Industrial Direct Co closed at $89.90 at the end of the last trading period. 
According to Goldman Sachs, the prior rating for Burberry Group PLC (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BURBY#OTC">BURBY</a>) was changed from Neutral to Buy. At the moment, the stock has a 52-week-high of $32.17 and a 52-week-low of $16.30. Burberry Group closed at $27.39 at the end of the last trading period. 
According to Piper Sandler, the prior rating for Cincinnati Financial Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CINF#NASDAQ">CINF</a>) was changed from Underweight to Neutral. Cincinnati Financial earned $1.37 in the first quarter, compared to $0.84 in the year-ago quarter. The current stock performance of Cincinnati Financial shows a 52-week-high of $124.37 and a 52-week-low of $65.98. Moreover, at the end of the last trading period, the closing price was at $113.76. 
Deutsche Bank upgraded the previous rating for Terex Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TEX#NYSE">TEX</a>) from Hold to Buy. In the first quarter, Terex showed an EPS of $0.60, compared to $0.35 from the year-ago quarter. At the moment, the stock has a 52-week-high of $55.60 and a 52-week-low of $17.19. Terex closed at $44.45 at the end of the last trading period. 
For Vistra Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VST#NYSE">VST</a>), B of A Securities upgraded the previous rating of Neutral to Buy. In the first quarter, Vistra showed an EPS of $4.21, compared to $0.24 from the year-ago quarter. The current stock performance of Vistra shows a 52-week-high of $24.20 and a 52-week-low of $15.47. Moreover, at the end of the last trading period, the closing price was at $18.75. 
<a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">See all analyst ratings upgrades.</a>
<h2>Downgrades</h2>
Redburn Partners downgraded the previous rating for Nevro Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVRO#NYSE">NVRO</a>) from Buy to Neutral. For the first quarter, Nevro had an EPS of $0.85, compared to year-ago quarter EPS of $0.78. At the moment, the stock has a 52-week-high of $188.14 and a 52-week-low of $111.87. Nevro closed at $153.01 at the end of the last trading period. 
According to Stephens &amp; Co., the prior rating for Sanderson Farms Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAFM#NASDAQ">SAFM</a>) was changed from Overweight to Equal-Weight. Sanderson Farms earned $4.34 in the second quarter, compared to $0.28 in the year-ago quarter. At the moment, the stock has a 52-week-high of $195.25 and a 52-week-low of $108.57. Sanderson Farms closed at $184.13 at the end of the last trading period. 
According to BTIG, the prior rating for XL Fleet Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XL#NYSE">XL</a>) was changed from Buy to Neutral. For the first quarter, XL Fleet had an EPS of $0.07, compared to year-ago quarter EPS of $0.08. The current stock performance of XL Fleet shows a 52-week-high of $35.00 and a 52-week-low of $5.41. Moreover, at the end of the last trading period, the closing price was at $7.70. 
According to JMP Securities, the prior rating for Cloudera Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLDR#NYSE">CLDR</a>) was changed from Outperform to Market Perform. For the first quarter, Cloudera had an EPS of $0.12, compared to year-ago quarter EPS of $0.05. At the moment, the stock has a 52-week-high of $19.35 and a 52-week-low of $9.34. Cloudera closed at $15.69 at the end of the last trading period. 
Morgan Stanley downgraded the previous rating for Core Laboratories NV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CLB#NYSE">CLB</a>) from Overweight to Equal-Weight. For the first quarter, Core Laboratories had an EPS of $0.15, compared to year-ago quarter EPS of $0.31. The current stock performance of Core Laboratories shows a 52-week-high of $49.87 and a 52-week-low of $13.43. Moreover, at the end of the last trading period, the closing price was at $36.11. 
Goldman Sachs downgraded the previous rating for Moncler SpA (OTC:<a class="ticker" href="https://www.benzinga.com/stock/MONRY#OTC">MONRY</a>) from Buy to Neutral. The current stock performance of Moncler shows a 52-week-high of $71.00 and a 52-week-low of $37.00. Moreover, at the end of the last trading period, the closing price was at $68.60. 
According to Goldman Sachs, the prior rating for Salvatore Ferragamo SpA (OTC:<a class="ticker" href="https://www.benzinga.com/stock/SFRGY#OTC">SFRGY</a>) was changed from Neutral to Sell. At the moment, the stock has a 52-week-high of $12.75 and a 52-week-low of $6.25. Salvatore Ferragamo closed at $10.35 at the end of the last trading period. 
<a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">See all analyst ratings downgrades.</a>
<h2>Initiations</h2>
With a Buy rating, Guggenheim initiated coverage on Renewable Energy Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGI#NASDAQ">REGI</a>). The price target seems to have been set at $87.00 for Renewable Energy Gr. For the first quarter, Renewable Energy Gr had an EPS of $0.88, compared to year-ago quarter EPS of $1.72. At the moment, the stock has a 52-week-high of $117.00 and a 52-week-low of $22.59. Renewable Energy Gr closed at $61.38 at the end of the last trading period. 
Oppenheimer initiated coverage on Pennant Park Investment Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PNNT#NASDAQ">PNNT</a>) with a Perform rating. The price target for Pennant Park Investment is set to $7.50. Pennant Park Investment earned $0.13 in the second quarter, compared to $0.15 in the year-ago quarter. The current stock performance of Pennant Park Investment shows a 52-week-high of $7.41 and a 52-week-low of $2.80. Moreover, at the end of the last trading period, the closing price was at $6.73. 
With a Buy rating, Jefferies initiated coverage on ASLAN Pharmaceuticals Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASLN#NASDAQ">ASLN</a>). The price target seems to have been set at $8.00 for ASLAN Pharmaceuticals. In the first quarter, ASLAN Pharmaceuticals showed an EPS of $0.02, compared to $0.02 from the year-ago quarter. The stock has a 52-week-high of $6.75 and a 52-week-low of $1.26. At the end of the last trading period, ASLAN Pharmaceuticals closed at $3.16. 
For Latch Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LTCH#NASDAQ">LTCH</a>), William Blair initiated coverage, by setting the current rating at Outperform. At the moment, the stock has a 52-week-high of $13.17 and a 52-week-low of $10.26. Latch closed at $12.18 at the end of the last trading period. 
For Nexus Real Estate Investment Trust (OTC:<a class="ticker" href="https://www.benzinga.com/stock/EFRTF#OTC">EFRTF</a>), BMO Capital initiated coverage, by setting the current rating at Outperform. The current stock performance of Nexus REIT shows a 52-week-high of $8.14 and a 52-week-low of $1.00. Moreover, at the end of the last trading period, the closing price was at $8.14. 
Societe Generale initiated coverage on UCB SA (OTC:<a class="ticker" href="https://www.benzinga.com/stock/UCBJY#OTC">UCBJY</a>) with a Buy rating. The current stock performance of UCB shows a 52-week-high of $68.00 and a 52-week-low of $44.41. Moreover, at the end of the last trading period, the closing price was at $53.88. 
RBC Capital initiated coverage on Forian Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FORA#NASDAQ">FORA</a>) with an Outperform rating. The price target for Forian is set to $31.00. The stock has a 52-week-high of $45.00 and a 52-week-low of $9.28. At the end of the last trading period, Forian closed at $11.81. 
Cantor Fitzgerald initiated coverage on Novan Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NOVN#NASDAQ">NOVN</a>) with an Overweight rating. The price target for Novan is set to $30.00. In the first quarter, Novan showed an EPS of $0.06, compared to $0.17 from the year-ago quarter. The stock has a 52-week-high of $20.74 and a 52-week-low of $0.30. At the end of the last trading period, Novan closed at $9.10. 
With a Buy rating, DZ Bank initiated coverage on MercadoLibre Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MELI#NASDAQ">MELI</a>). The price target seems to have been set at $1900.00 for MercadoLibre. In the first quarter, MercadoLibre showed an EPS of $0.68, compared to $0.44 from the year-ago quarter. The stock has a 52-week-high of $2020.00 and a 52-week-low of $941.44. At the end of the last trading period, MercadoLibre closed at $1526.93. 
With an Outperform rating, BMO Capital initiated coverage on SunOpta Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STKL#NASDAQ">STKL</a>). The price target seems to have been set at $15.00 for SunOpta. SunOpta earned $0.01 in the first quarter, compared to $0.06 in the year-ago quarter. The current stock performance of SunOpta shows a 52-week-high of $17.07 and a 52-week-low of $4.38. Moreover, at the end of the last trading period, the closing price was at $11.36. 
CLSA initiated coverage on Coupang Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPNG#NYSE">CPNG</a>) with an Outperform rating. The price target for Coupang is set to $46.00. Coupang earned $0.68 in the first quarter, compared to $5.74 in the year-ago quarter. The current stock performance of Coupang shows a 52-week-high of $69.00 and a 52-week-low of $30.65. Moreover, at the end of the last trading period, the closing price was at $40.00. 
RBC Capital initiated coverage on Bumble Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BMBL#NASDAQ">BMBL</a>) with an Outperform rating. The price target for Bumble is set to $65.00. In the first quarter, Bumble earned $1.69. The stock has a 52-week-high of $84.80 and a 52-week-low of $38.91. At the end of the last trading period, Bumble closed at $50.29. 
With an Outperform rating, RBC Capital initiated coverage on Match Group Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MTCH#NASDAQ">MTCH</a>). The price target seems to have been set at $190.00 for Match Group. For the first quarter, Match Group had an EPS of $0.57, compared to year-ago quarter EPS of $0.55. At the moment, the stock has a 52-week-high of $174.68 and a 52-week-low of $87.56. Match Group closed at $158.25 at the end of the last trading period. 
With an Outperform rating, Baird initiated coverage on The Beachbody Co Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BODY#NYSE">BODY</a>). The price target seems to have been set at $16.00 for Beachbody. In the second quarter, Beachbody showed an EPS of $0.99, compared to $0.15 from the year-ago quarter. At the moment, the stock has a 52-week-high of Missing 52-Week High and a 52-week-low of Missing 52-Week Low . Beachbody closed at $8.70 at the end of the last trading period. 
With an Outperform rating, Baird initiated coverage on Talkspace Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TALK#NASDAQ">TALK</a>). The price target seems to have been set at $10.00 for Talkspace. The current stock performance of Talkspace shows a 52-week-high of Missing 52-Week High and a 52-week-low of Missing 52-Week Low . Moreover, at the end of the last trading period, the closing price was at $6.95. 
Piper Sandler initiated coverage on Bogota Financial Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BSBK#NASDAQ">BSBK</a>) with a Neutral rating. The price target for Bogota Finl is set to $11.00. Interestingly, in the first quarter, Bogota Finl's EPS was $0.23. The current stock performance of Bogota Finl shows a 52-week-high of $10.75 and a 52-week-low of $7.01. Moreover, at the end of the last trading period, the closing price was at $10.16. 
With a Buy rating, BTIG initiated coverage on TaskUs Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TASK#NASDAQ">TASK</a>). The price target seems to have been set at $45.00 for TaskUs. The current stock performance of TaskUs shows a 52-week-high of $35.62 and a 52-week-low of $27.06. Moreover, at the end of the last trading period, the closing price was at $31.21. 
With an Outperform rating, Raymond James initiated coverage on Professional Holding Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PFHD#NASDAQ">PFHD</a>). The price target seems to have been set at $22.00 for Professional Holding. For the first quarter, Professional Holding had an EPS of $0.34, compared to year-ago quarter EPS of $0.14. At the moment, the stock has a 52-week-high of $19.25 and a 52-week-low of $9.63. Professional Holding closed at $17.58 at the end of the last trading period. 
With an Outperform rating, Raymond James initiated coverage on Guaranty Bancshares Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GNTY#NASDAQ">GNTY</a>). The price target seems to have been set at $40.00 for Guaranty Bancshares. For the first quarter, Guaranty Bancshares had an EPS of $0.94, compared to year-ago quarter EPS of $0.55. At the moment, the stock has a 52-week-high of $41.28 and a 52-week-low of $22.70. Guaranty Bancshares closed at $32.10 at the end of the last trading period. 
With a Perform rating, Oppenheimer initiated coverage on Staar Surgical Co (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STAA#NASDAQ">STAA</a>). The price target seems to have been set at $150.00 for Staar Surgical. Staar Surgical earned $0.20 in the first quarter, compared to $0.04 in the year-ago quarter. The stock has a 52-week-high of $161.71 and a 52-week-low of $45.47. At the end of the last trading period, Staar Surgical closed at $143.43. 
Wedbush initiated coverage on General Motors Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GM#NYSE">GM</a>) with an Outperform rating. The price target for General Motors is set to $85.00. In the first quarter, General Motors showed an EPS of $2.25, compared to $0.62 from the year-ago quarter. The current stock performance of General Motors shows a 52-week-high of $64.30 and a 52-week-low of $23.33. Moreover, at the end of the last trading period, the closing price was at $56.06. 
<a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">See all analyst ratings initiations.</a>

Upgrades

Downgrades

Initiation

Intraday Update

ALGN

ARGO

ASLN

BMBL

BODY

BSBK

CINF

CLDR

CPNG

EFRTF

FORA

GNTY

LTCH

MELI

MONRY

MTCH

NOVN

NVRO

PFHD

PNNT

REGI

SAFM

SFRGY

STAA

STKL

TALK

TASK

UCBJY

Benzinga's Top Ratings Upgrades, Downgrades For July 9, 2021

Goldman Sachs upgrades Burberry Group (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BURBY#OTC">BURBY</a>) from Neutral to Buy.

Goldman Sachs Upgrades Burberry Group to Buy

The world of luxury brand fashion witnessed a major corporate defection as Burberry Group ADR&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/burby#OTC">BURBY</a>) announced the resignation of CEO Marco Gobbetti after five years in the leadership role, while Salvatore Ferragamo S.p.A. (OTC: <a class="ticker" href="https://www.benzinga.com/stock/sfrgy#OTC">SFRGY</a>) simultaneously announced Gobbetti will be joining their company as CEO and general manager.
Different Reasons For An Exit: In a press statement, Ferragamo said Gobbetti would join their company and &ldquo;will take up the position as soon as he is released from his contractual obligations,&rdquo; while Burberry said it anticipated he would &ldquo;remain with Burberry until the end of the calendar year.&rdquo;
The London-headquartered Burberry made no mention of Gobbetti&rsquo;s new job, only mentioning that his departure &ldquo;will enable him to return to Italy and be closer to his family.&rdquo;
See Also: <a href="https://www.youtube.com/watch?v=cr5d9EjhteY">Benzinga&#39;s Early Bird Morning Show: 13 Stocks To Trade This Week</a>
The Gobbetti Journey: Gobbetti first achieved international prominence as CEO of Moschino from 1993 to 2004. He became CEO of Givenchy, a division of LVMH Mo&euml;t Hennessy Louis Vuitton (OTC: <a class="ticker" href="https://www.benzinga.com/stock/lvmuy#OTC">LVMUY</a>) in February 2004 and then switched to become CEO of the company&#39;s C&eacute;line division four years later.
Burberry announced Gobbetti&nbsp;was replacing Christopher Bailey as CEO in July 2016. In announcing his departure, Gobbetti stated his work at the company has been completed.
&ldquo;As a group, we have elevated and strengthened the brand and the business, while continuing to be a force for good,&rdquo; he said. &ldquo;With Burberry re-energized and firmly set on a path to strong growth, I feel that now is the right time for me to step down.&rdquo;
Burberry shares are down Monday morning 8.93% at $28.47 and Ferragamo are&nbsp;down 2.03% at $11.58.&nbsp;
(Photo of Marco Gobbetti courtesy of Burberry.)

Burberry CEO Marco Gobbetti Resigns To Join Rival Ferragamo

More Western brands are facing backlash in China as they get caught in the international crossfire over Beijing&#39;s treatment of Muslims in the country&#39;s Xinjiang region.
What Happened:&nbsp;On Saturday, Chinese celebrities snubbed Hugo Boss AG&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/bossy#OTC">BOSSY</a>) after the German fashion house issued a statement regarding&nbsp;forced labor in Xinjiang,&nbsp;<a href="https://www.bloomberg.com/news/articles/2021-03-28/hugo-boss-under-fire-from-chinese-stars-over-xinjiang-pledge?sref=TBDibEcD" target="_blank">Bloomberg</a>&nbsp;reports.&nbsp;
Chinese actor and singer Li Yifeng said on his Weibo Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wb#NASDAQ">WB</a>) social media account that he was ending his relationship with Hugo Boss. Singers Zhu Zhengting and Wang Linkai also indicated on Weibo that they will stop working with Hugo Boss.&nbsp;
This was after Hugo Boss said in an official&nbsp;<a href="https://group.hugoboss.com/fileadmin/media/pdf/sustainability/company_commitments_EN/HUGO_BOSS_Statement_on_Xinjiang.pdf" target="_blank">statement</a>, &quot;The company does not tolerate forced labor and insists that its global suppliers follow suit. The company has not procured any goods originating in the Xinjiang region from direct suppliers.&quot;&nbsp;
Similarly, Chinese actor Zhou Dongyu has ended her brand ambassador role with&nbsp;Burberry Group (OTC: <a class="ticker" href="https://www.benzinga.com/stock/burby#OTC">BURBY</a>),&nbsp;The&nbsp;<a href="https://www.theguardian.com/world/2021/mar/26/chinese-actor-quits-as-burberry-ambassador-as-xinjiang-cotton-row-escalates" target="_blank">Guardian</a>&nbsp;reports.&nbsp;
The Swedish clothing company&nbsp;H &amp; M Hennes &amp; Mauritz AB&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/hmrzf#OTC">HMRZF</a>) also came under fire in the Xinjiang row last week. Alibaba Group Holding Ltd and shopping app Meituan also have removed H&amp;M from listings, and search engine company Baidu has removed H&amp;M from a maps app,&nbsp;<a href="https://www.reuters.com/article/china-xinjiang-retail/chinese-apps-join-celebs-in-backlash-against-western-fashion-brands-over-xinjiang-idINKBN2BI1GM" target="_blank">Reuters</a>&nbsp;reports.&nbsp;
According to a New York Times report, H&amp;M posted a&nbsp;<a href="https://www.benzinga.com/news/21/03/20326696/chinese-government-attacks-h-m-over-statement-on-xinjiang-forced-labor-report" target="_blank">statement</a>&nbsp;on its website last September stating the company was &quot;deeply concerned by reports from civil society organizations and media that include accusations of forced labor and discrimination of ethno-religious minorities&quot; in Xinjiang, adding it would no longer procure cotton from the region.
Other overseas brands, including&nbsp;Nike Inc&nbsp;(NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nke#NYSE">NKE</a>), and&nbsp;adidas A.G.&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/addyy#OTC">ADDYY</a>), have also faced online backlash for their statements regarding the sourcing of cotton in Xinjiang.
Other brands which have come under fire in China for saying they would not use Xinjiang cotten&nbsp;are New Balance, Under Armour Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/uaa#NYSE">UAA</a>), PVH Corp&#39;s (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pvh#NYSE">PVH</a>) Tommy Hilfiger brand,&nbsp;Puma S.E.&nbsp;(OTC: <a class="ticker" href="https://www.benzinga.com/stock/pumsy#OTC">PUMSY</a>), Fast Retailing&#39;s (OTC: <a class="ticker" href="https://www.benzinga.com/stock/frcoy#OTC">FRCOY</a>) Uniqlo, and Converse, owned by Nike.
Why It Matters:&nbsp;The backlash was sparked by an international&nbsp;outcry over reports that forced labor in Xinjiang is used to feed products into the global&nbsp;supply chains of major corporations. As Western brands sought to distance themselves from any appearance of using products from Xinjiang, a counter-backlash grew among consumers in China, upset at the accusations against their country.
U.N. rights experts have accused China of engaging in mass detainment, torture&nbsp;and forced labor of Uyghurs, a&nbsp;Muslim minority group,&nbsp;in Xinjiang. The U.S. has accused China of instigating social media campaigns to boycott U.S. and other international companies that refuse to use cotton from Xinjiang.&nbsp;
However, China denies these claims and says its actions in the region are necessary to counter extremism.
China on Saturday announced sanctions against two U.S. officials, a Canadian lawmaker&nbsp;and a Canadian parliamentary subcommittee in response to what Beijing said was &quot;coordinated action&quot; taken by the two countries last week over China&#39;s treatment of Uyghurs in Xinjiang.
Photo by <a href="https://unsplash.com/@varietou?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText">Jules D.</a> on <a href="https://unsplash.com/s/photos/hugo-boss?utm_source=unsplash&amp;utm_medium=referral&amp;utm_content=creditCopyText">Unsplash</a>.

ADDYY

BOSSY

HMRZF

PUMSY

Chinese Stars Snub Western Brands Hugo Boss, Burberry, and H&M Over Xinjiang Row

The following originally appeared on <a href="https://www.capitalwatch.com/details/news/482224424645431296.html">CapitalWatch</a>
Forget about buying options in solar stocks based on polling data favorable to a Biden win or fracking stocks favorable to a Trump reelection. Look to China&mdash;even if you do not like what you see.
Now, I have been hard on China in past articles for two reasons: One, because, as the editor of a Chinese company-focused website, this attitude only further cements my reputation as objective; and two, the nation where this pathogen was born (and unsuccessfully covered up), is the same nation that will benefit most by its devastation&mdash;albeit in relative rather than in absolute terms. And while it is hard in the West not to wince at such a win for autocracy, China is where a significant portion of your investment dollars should be headed for the next few years. Because, according to some experts, we in the West won&rsquo;t be back to the old normal until 2024.
Yes, not a typo: 2024.
At least that&rsquo;s what&nbsp;Nicholas Christakis, the Sterling Professor of Social and Natural Science at Yale University, said on a recent episode of author Sam Harris&rsquo; podcast.
Best case scenario, it looks like there will be a safe, reliable vaccine approved sometime in 2021, but that is just the beginning of long, dark winter.
&ldquo;I think sometime in 2021 we may discover a vaccine,&quot; Christakis says. &ldquo;How safe it is or how effective it is, is hard to predict.&rdquo;
Then comes the part of getting it to everyone, a logistical nightmare of underappreciated proportions. Maintaining the &ldquo;cold chain&rdquo; to keep the vaccine at consistently cold temperatures to avoid contamination might be easy when you are moving vials between New York City hospitals but significantly more challenging when you are trying to get the vaccine to villages in Sub-Saharan Africa.
More contagious than the flu, in a non-immune population interacting normally (sans lockdown) for every case of SARS-COV-2, between 2.5 and 3.5 new cases will arise; the seasonal flu&rsquo;s intrinsic transmissibility is between 0.9 and 1.6. To achieve herd immunity, the virus must slowly run out of new people to infect.
&ldquo;The more transmissible the disease, the higher percentage of people have to acquire immunity for herd immunity to kick in naturally, or the higher the fraction of people have to vaccinated,&rdquo; explains Christakis.
The fact that there is currently widespread resistance to any Covid-19 vaccine makes a slow, insidious death march to natural herd immunity more likely.
Plus, no one thinks any vaccine is going to be a magic bullet for this particular pathogen. Seasonal flu vaccines are typically about 60% effective; the FDA has said it is hoping for a 50% effective rate for Covid-19 vaccines. Plus, if it does work, it may only protect you for a few months. We will likely be getting a seasonal Covid-19 shot for generations to come until Covid-19 mutates into a relatively mild virus.
In the meantime, we have made progress on treatments, such as the &ldquo;old and cheap&rdquo; drug dexamethasone shown to reduce mortality by 20%, and other promising treatments, says Christakis. Doctors have also learned simple, potentially lifesaving things about this virus such as putting patients on their stomach rather than their back.
&ldquo;You&rsquo;d much rather get Covid now than in March,&rdquo; Christakis says.
Well, that&#39;s somewhat reassuring.
<h3>Mining Chinese Profits</h3>
While the West struggles, China&rsquo;s market will keep growing disproportionately. As the American and European markets turn bearish, China will enter a secular bull market&mdash;unless their hundreds of millions of retail traders don&rsquo;t cause it to overheat yet again.
Chinese mining stocks are a great defensive long-term buy in this market. China consumes roughly half of the world&rsquo;s industrial metals, according to analysts, so this is a space to play as the nation gets back on its feet.
China says it will go green and is investing an impressive number of billions to do so. While there are some coal plays, best to stick to gold and copper, two metals China consumes at insane rates.
I like&nbsp;Zijin Mining Group Ltd. (HKEX: 2899),&nbsp;whose stock has more than tripled since the summer, with more room to run. Financials released in September show the company&rsquo;s revenue and net income rose by 37% and 86%, respectively, year-over-year. For copper, a metal used in nearly everything an economy needs, look to&nbsp;Jiangxi Copper (SSE: 600362), the largest copper producer in mainland China. The stock only trades in Shanghai, so you&rsquo;ll need an overseas broker.
Betting on China through American or European companies with tons of business in China is a solid bet. European luxury goods stocks were crushed early in the year on China&rsquo;s struggle with Covid-19. I like London-based&nbsp;Burberry (Pink: <a class="ticker" href="https://www.benzinga.com/stock/burby#Pink">BURBY</a>).&nbsp;At around $17.50 per share, the stock is still trading at nearly half of what it was in January. Popular in China, Burberry has accumulated about 1.51 million followers on Weibo, a very popular Chinese social platform, and the number of followers on Tmall sales platform has now reached 2.16 million. BURBY is a Buy.
And then there is&nbsp;Apple Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/aapl#NASDAQ">AAPL</a>).&nbsp;The stock is down now on less-than-expected iPhone sales in China, where 25% of its phones are sold. But December and January should see a big bump in sales. I like options expiring January 15 for Apple. Also, I like&nbsp;Starbucks Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sbux#NASDAQ">SBUX</a>) for its China focus.
<h3>BABA O&rsquo;Really</h3>
Its trading curve is one long uptrend, less some impact from the U.S.-China trade wars. Among big Chinese stocks trading in New York, this is one that is sure to continue growing. This month, the stock in&nbsp;Alibaba Group Holding Ltd (NYSE: BABA)&nbsp;has exceeded $300 for the first time &ndash; that&rsquo;s about 70% above its level at the same time a year ago. And it isn&rsquo;t even November yet, when the e-commerce giant traditionally leads China&rsquo;s biggest annual sales festival.&nbsp;Last year, Alibaba Singles&rsquo; Day sales hit $1 billion in 1 minute, and $16.3 billion in less than 90 minutes.
So, buy Alibaba while you still can at this recent dip back down to almost $300 per share. It has reached a new level this month &ndash; and next month it could reach another. One thing is for sure: BABA will be worth more than it is between now and this time next year, and even more by the next election of 2024.
Even a mask mandate and full implementation of the Biden &ldquo;plan&rdquo; won&rsquo;t stop this pathogen. It&rsquo;s too late; just ask Europeans. So, no matter what happens next week, the virus will continue to spread out of control, and we are years away from a return to the old normal. Stay-at-home and tech stocks will keep growing but will encounter hills and valleys. So, too, will Bitcoin.
So too will Amazon.com Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) and so too will Alibaba and Zoom Video Communications (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/zm#NASDAQ">ZM</a>) and Shopify Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/shop#NYSE">SHOP</a>) and Apple and a host of other comparatively pandemic insulated companies. But Alibaba will not only yield more in the next six months but will see a steadier rise over the next few years. Other Asian nations, even the democratic ones, whose more disciplined populations have kept the coronavirus at bay, such as Japan and South Korea, will be markets worthy of investment. Emerging market ETFs in both countries as well as India are trades for the winter and beyond.
Make no mistake, America will be hurting for a couple of years at least. As Christakis says, &ldquo;We&rsquo;re going to be physically distancing; we&rsquo;re going to have periodic school closures; we will be wearing masks; we are not going to be shaking hands; we will have a suppression in our economy until 2022.&rdquo;
You can either move to China (if they ever let you in), or you can buy Alibaba and wait out the storm.
Whatever you decide, just wear a mask. Wear it not because Biden tells you to, but because you should. That mask is neither a virtue-signaling symbol of fulfilling civic duty, nor a symbol of oppression. That mask is just a means by which droplets containing a pathogen can be prevented from spreading to the next human host. Nothing more; nothing less. But it is too late to set a good example, Mr. Biden, the malarkey having already intractably manifested.
Wear it because the shell shock after this whole mess will linger until as late as early 2024, according to Christakis, after which a &quot;kind of roaring 20s&rdquo; will take root.
&ldquo;There will be efflorescence. People will pack political protests and sports events and restaurants.&rdquo; An exuberant era, he says, of &ldquo;intemperance, sexual licentiousness, and joie de vivre.&rdquo; At least, such has been the character of previous post-pandemic periods.
So hang tight, buy BABA while we ride this election and pandemic out. Don&rsquo;t worry; we will be partying like it&rsquo;s 2023 before you know it.

Opinion

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SHOP

Why You Should Be Buying Chinese Stocks Regardless Of Who Wins The Election

The Wall Street Journal reported that retail spending in the United States grew at a slower pace in August than it did in July. Although this was the fourth straight month of growth, the pace was slower as sales increased a seasonally adjusted 0.6%, which is a drop from July&#39;s 0.9%. These figures reflect what individuals and households spent on stores, restaurants and online retail. The economy is trying to recover as the world learns how to live with COVID-19 and like in every story, there are winners and losers.
<h4>How the mighty have fallen</h4>
Burberry Group (OTC: <a class="ticker" href="https://www.benzinga.com/stock/burby#OTC">BURBY</a>) has been struggling lately as its earnings have declined faster than most other companies. It might be that many expect the company&#39;s recent dismal earnings performance to recover substantially. But in order to justify its high P/E ratio, Burberry Group would need to produce outstanding growth well in excess of the market.
Before the pandemic struck, the beginning of the year showed Burberry&#39;s plan to go upmarket were paying off. It was a trend-setter for the modern age. But, in September, the iconic luxury brand tapped the debt markets for the first time in its 164 years. It launched a sustainable bond to boost its liquidity. Burberry also has a green agenda with plans to build a greener infrastructure including its offices and shops as well as improve its cotton sourcing.
<h4>The strong become stronger</h4>
Meanwhile, Nike (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nke#NYSE">NKE</a>) shares spiked 8% on Tuesday during after-hour trading as it reported blockbuster sales that managed to beat expectations by more than $1 billion.
During the previous quarter that ended on May 31st, Nike posted a net loss and 38% decline in revenue. With the latest quarter, the sportswear giant has sent a clear signal that it is making a healthy comeback. Although foot traffic remains lower than usual, this time, nearly all of Nike&#39;s stores were open. Nike was also well-positioned to benefit from a boost in digital sales as it abandoned third-party retailers like Amazon.com, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/amzn#NASDAQ">AMZN</a>) and focused on a direct relationship with its consumers and its e-commerce ecosystem. Digital sales grew 82% during the quarter, including triple-digit growth in the European, Middle Eastern and African markets, but revenue also returned to growth in Greater China as well.
<h4>Catching the wave</h4>
Stitch Fix (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sfix#NASDAQ">SFIX</a>) saw its shares tumble as they dropped 14% during after-hours Tuesday due to a fourth-quarter loss of $44.5 million. In the same quarter last year, it achieved a profit of $7.2 million. What a difference a tiny virus can make as it entirely disrupted its supply chain.
Not all was that bad as the San Francisco-based online personal styling and clothing provider expanded its active client base to 3.5 million which marks a 9% growth YoY.&nbsp;
Stitch Fix CEO Katrina Lake focused on the achievements as she expressed her pride regarding how her team handled these unprecedented headwinds. The company reported a bigger quarterly loss than expected despite increasing its net revenue per active client by 2% and also growing sales by 11% YoY.
<h4>Outlook</h4>
The pace of recovery is slow as there is a great deal of uncertainty and change. Retail is no exception. Customers have embraced online retail as well as curbside pickup. By the looks of it, these trends are here to stay in the post-COVID-19 era that is hopefully not too far away.
This article is not a press release and is contributed by a verified independent journalist for IAMNewswire. It should not be construed as investment advice at any time please read the full <a href="https://iamnewswire.com/disclaimer-disclosure/">disclosure</a> . IAM Newswire does not hold any position in the mentioned companies. Press Releases &ndash; If you are looking for full Press release distribution contact: <a href="mailto:press@iamnewswire.com">press@iamnewswire.com</a> Contributors &ndash; IAM Newswire accepts pitches. If you&#39;re interested in becoming an IAM journalist contact: <a href="mailto:contributors@iamnewswire.com">contributors@iamnewswire.com</a>
The post <a href="https://iamnewswire.com/2020/09/23/the-consumer-sector-latest-developments/" rel="nofollow">The Consumer Sector &ndash; Latest Developments</a> appeared first on <a href="https://iamnewswire.com" rel="nofollow">IAM Newswire</a>.

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