Latest news for Salvatore Ferragamo (OTC:SFRGY) Stock

Founded in 1927, Salvatore Ferragamo is an Italian monobrand company mainly known for its footwear and accessories. The company generates about 45% of revenue in the fragmented footwear category, 40% in leather goods, 6% in apparel, and 7% in accessories. It was one of the pioneers in establishing a presence in Asia, where it generates 32% of sales and other emerging markets (8% of sales in Central and South America). Ferragamo generates 24% of revenue in Europe, 28% in the US, and 8% in Japan.

News

Management

BURBY

LVMUY

SFRGY

The world of luxury brand fashion witnessed a major corporate defection as Burberry Group ADR (OTC: BURBY) announced the resignation of CEO Marco Gobbetti after five years in the leadership role, while Salvatore Ferragamo S.p.A. (OTC: 

Burberry CEO Marco Gobbetti Resigns To Join Rival Ferragamo

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SALVATORE FERRAG UNSP/ADR by Salvatore Ferragamo S.P.A.

Salvatore Ferragamo SpA

Preliminary Estimates of&nbsp;Second Quarter&nbsp;2024 Results
Main Street&#39;s preliminary estimate of&nbsp;second quarter&nbsp;2024 net investment income (&quot;NII&quot;) is&nbsp;$1.00&nbsp;to&nbsp;$1.02&nbsp;per share and distributable net investment income (&quot;DNII&quot;) is&nbsp;$1.06&nbsp;to&nbsp;$1.08&nbsp;per share.(1)
Main Street&#39;s preliminary estimate of net asset value (&quot;NAV&quot;) per share as of June&nbsp;30, 2024 is&nbsp;$29.77&nbsp;to&nbsp;$29.83, representing an increase of&nbsp;$0.23&nbsp;to&nbsp;$0.29&nbsp;per share, or&nbsp;0.8%&nbsp;to&nbsp;1.0%, from the NAV per share of&nbsp;$29.54&nbsp;as of&nbsp;March 31, 2024, with this increase after the impact of the supplemental dividend paid in&nbsp;June 2024&nbsp;of&nbsp;$0.30&nbsp;per share. The estimated increase in NAV per share is primarily due to the net fair value increase on the investment portfolio resulting from the net unrealized appreciation and the net realized gain on portfolio investments, including an increase in the fair value of the wholly-owned asset manager, and the accretive impact of equity issuances during the quarter, with these increases partially offset by the net tax expense for the quarter.
As a result of Main Street&#39;s preliminary estimates of NII and net changes in the fair market value of its investment portfolio as noted above, Main Street estimates that it generated a quarterly annualized return on equity of&nbsp;15%&nbsp;to&nbsp;17%&nbsp;for the&nbsp;second quarter&nbsp;of 2024.(2)
Main Street preliminarily estimates that non-accrual investments comprised&nbsp;1.2%&nbsp;of the total investment portfolio at fair value and&nbsp;3.6%&nbsp;at cost as of June&nbsp;30, 2024.

MAIN

Main Street Sees Q2 Net Investment Income (NII) Of $1.00 - $1.02 Per Share; Distributable Net Investment Income (DNII) Of $1.06 - $1.08 Per Share

B of A Securities analyst Heather Balsky maintains S&amp;P Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPGI#NYSE">SPGI</a>) with a Buy and raises the price target from $530 to $540.

Price Target

Analyst Ratings

SPGI

B of A Securities Maintains Buy on S&P Global, Raises Price Target to $540

General

MICS

Singing Machine's Subsidiary, SemiCab, Announces Over $9M Contracted Revenue Backlog

UHAL

U-Haul Plans To Build A Retail, Moving And Self-Storage Center In Athens

Wolfe Research analyst Shweta Khajuria initiates coverage on Snap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) with a Peer Perform rating.

Initiation

SNAP

Wolfe Research Initiates Coverage On Snap with Peer Perform Rating

Contracts

GILT

Gilat Bags Over $5M From A National Defense Organization To Upgrade Transportable SATCOM Network Hubs

This consolidation is intended to enhance efficiency, improve alignment and improve process speed within SNDL&#39;s vertical model.

SNDL

SNDL Consolidates Its Cannabis Segments Into A Single Unit Under Leadership Of Tyler Robson

Wolfe Research analyst Shweta Khajuria initiates coverage on Yelp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/YELP#NYSE">YELP</a>) with a Peer Perform rating.

YELP

Wolfe Research Initiates Coverage On Yelp with Peer Perform Rating

Syngenta Partners With Ginkgo Bioworks To Boost The Launch Of Biologicals

GTEC

Greenland Technologies And Lonking Team Up To Develop U.S. Heavy Machinery Industry With HEVI Electric Equipment

The project is expected to deliver over&nbsp;$20 million&nbsp;in annualized cost savings driven primarily by the optimization of corporate overhead spending. The restructuring will require a one-time investment of&nbsp;$11 million&nbsp;over the next 18 months.
SNDL expects to achieve most of the anticipated annualized savings by mid-2025, while starting to capture some of the opportunities as early as&nbsp;Q3&nbsp;2024.

SNDL Plans Restructuring Project Aimed At Reducing Corporate Overheads; Reveals Reduction Of 106 Full-time Employees

Baird analyst Eric Coldwell maintains Owens &amp; Minor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMI#NYSE">OMI</a>) with a Neutral and lowers the price target from $20 to $19.

Baird Maintains Neutral on Owens & Minor, Lowers Price Target to $19

Wolfe Research analyst Shweta Khajuria initiates coverage on Uber Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UBER#NYSE">UBER</a>) with a Outperform rating and announces Price Target of $90.

UBER

Wolfe Research Initiates Coverage On Uber Technologies with Outperform Rating, Announces Price Target of $90

Janus International Launches Two New Roll-Up NS Series Self-Storage Door Solutions

Jiyue, the electric vehicle (EV) manufacturer formed by Baidu, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIDU#NASDAQ">BIDU</a>) in collaboration with Geely Holding Group, is set to introduce its latest model, the <a target="_blank" href="https://www.benzinga.com/electric-vehicles" rel="noreferrer noopener">Jiyue 07 electric sedan, in September.</a>
The Jiyue 07, which follows the Jiyue 01 SUV as the second model under the Jiyue brand, is already on display at certain Jiyue showrooms, <a target="_blank" href="https://cnevpost.com/2024/07/16/jiyue-to-launch-jiyue-07-sept/" rel="noreferrer noopener">reported</a> CnEV Post.
The dimensions of the Jiyue 07 exceed those of Tesla&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) Model 3.
The Model 3 measures 4,724 mm in length, 1,848 mm in width, and 1,430 mm in height, with a wheelbase of 2,875 mm. Comparatively, the Jiyue 07 measures 4,953 mm in length, 1,989 mm in width, and 1,475 mm in height, with a wheelbase of 3,013 mm.
Also Read: <a target="_blank" href="https://www.benzinga.com/markets/equities/24/07/39749573/nio-advances-vehicle-safety-with-ai-enhanced-automatic-emergency-braking-and-navigation-features" rel="noreferrer noopener">NIO Advances Vehicle Safety With AI-Enhanced Automatic Emergency Braking And Navigation Features In Latest Update</a>
According to a regulatory filing on May 11, the Jiyue 07 will be manufactured at Geely&#8217;s plant in Ningbo, Zhejiang province. It will be available in both single-motor and dual-motor configurations.
The single-motor version features an electric motor capable of delivering up to 200 kW of power, while the dual-motor version includes an additional front motor also capable of 200 kW, both supplied by Geely Auto&#8217;s affiliate Viridi E-mobility Technology.
The Jiyue 07 offers two choices of battery packs: 71.4 kWh and 100 kWh, sourced from suppliers such as CATL and Svolt Energy. It boasts a range of up to 880 kilometers on a single charge, with intermediate options of 660 kilometers and 770 kilometers, the report highlighted.
Originally named Jidu, the brand underwent a renaming to Jiyue after Geely and Baidu formed the joint venture in March 2021. Initially, Baidu held a 55% stake while Geely owned 45%. On August 15, 2023, Geely announced the rebranding to Jiyue, replacing Jidu, potentially due to regulatory considerations.
Jiyue unveiled the Jiyue 07 sedan for the first time at the Beijing Auto Show in late April 2024.
Price Action: BIDU shares are trading lower by 0.32% to $92.85 premarket at last check Tuesday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo by testing on Shutterstock
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Equities

Media

BIDU

TSLA

Baidu-Backed Jiyue To Launch Jiyue 07 Electric Sedan In September; Larger Than Tesla Model 3: Report

Wolfe Research analyst Shweta Khajuria assumes Roblox (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RBLX#NYSE">RBLX</a>) with a Peer Perform rating.

RBLX

Wolfe Research Assumes Roblox at Peer Perform

Earnings

PNC Financial Services Q2 Net Interest Income Decreases To $3.302B Compared With $3.510B YoY; Q2 Noninterest Income Totals $2.109B Higher Than $1.783B YoY

Morgan Stanley (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MS#NYSE">MS</a>) is scheduled to release its financial results for the second quarter, before the <a href="https://www.benzinga.com/quote/MS/earnings">opening bell on Tuesday, July 16.</a>
Analysts expect the New York-based company to report quarterly earnings at $1.65 per share, up from $1.24 per share in the year-ago period. Morgan Stanley expects to post revenue of $14.3 billion. It posted $13.08 billion a year earlier, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Morgan Stanley is set to launch an AI-powered assistant to enhance the workflow of its financial advisors. The AI assistant, named Debrief, will automate the note-taking process during client meetings, creating draft emails and summaries of the discussions, CNBC reported recently.
Morgan Stanley shares gained 1.1% to close at $105.26 on Monday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/MS/analyst-ratings">analysts have rated the company</a> in the recent period.
<ul>
<li>Oppenheimer analyst Chris Kotowski maintained an Outperform rating and raised the price target from $101 to $105 on April 30. This analyst has an accuracy rate of 84%.</li>
<li>BMO Capital analyst James Fotheringham maintained an Outperform rating and boosted the price target from $115 to $118 on April 18. This analyst has an accuracy rate of 73%.</li>
<li>B of A Securities analyst Michael Carrier maintained a Buy rating and increased the price target from $100 to $106 on April 17. This analyst has an accuracy rate of 80%.</li>
<li>Keefe, Bruyette &amp; Woods analyst David Konrad maintained a Market Perform rating and raised the price target from $94 to $98 on April 17. This analyst has an accuracy rate of 75%.</li>
<li>CFRA analyst Kenneth Leon maintained a Buy rating and increased the price target from $97 to $108 on April 16. This analyst has an accuracy rate of 77%.</li>
</ul>
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Morgan Stanley Likely To Report Higher Q2 Earnings; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

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Salvatore Ferragamo

News

Latest news for Salvatore Ferragamo (OTC:SFRGY) Stock

Friday, July 09, 2021

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Wednesday, October 02, 2019