Tag Archives: brands

Adidas (ADDYY) has reached an agreement to sell Reebok to Authentic Brands for nearly $2.5 billion, in a majority cash deal. The German sports retailer bought Reebok in 2006 for $3.8 billion to help compete against Nike (NKE). However, after 15 years of lower-than-expected sales, its ready to part ways with the American brand. “Reebok has been a valued part of Adidas, and we are grateful for the contributions the brand and the team behind it have made to our company. With this change in… Source link

Let’s just say that investors really, really, REALLY love that Bed Bath & Beyond (BBBY) introduced three new, high margin private label brands on Wednesday.  Shares of the home goods retailer exploded by as much as 50% in afternoon trading as retail traders returned to old friend Bed Bath & Beyond (and meme trades such as AMC and BlackBerry) amid its positive product news. The company said it will debut the three new home brands —Our Table, Wild Sage and Squared Away — in the coming… Source link

Underdog Fantasy Raises $10 Million From Kevin Durant, Mark Cuban, Jared Goff and Others By Andrew Cohen May 3, 2021 Fantasy sports app Underdog Fantasy has raised $10 million from a group of investors that includes Dallas Mavericks owner Mark Cuban, Brooklyn Nets star Kevin Durant, Detroit Lions quarterback Jared Goff, and ESPN’s Adam Schefter.   The round was led by angel investor Kevin Carter, who is an advisor at SV Angel, and included investments from music stars such… Source link

Constellation Brands (STZ) is taking the gloves off and hitting back at Anheuser-Busch (BUD) after it filed a lawsuit trying to stop the use of the name Corona being used on a new line of hard seltzer.  “We believe it’s without merit [the lawsuit]. We filed a motion to dismiss this week. It will probably take a few months for that to get ruled on. But we are totally within our sub-license agreement. This certainly looks like an attempt to damage somebody that is doing a lot of damage in the… Source link

Bloomberg Real Estate Investors Desperate to Spend $250 Billion Hoard (Bloomberg) — Investors with a record hoard of money to finance distressed commercial real estate are finding themselves in a tough spot: There’s nowhere to spend it.The massive wave of defaults expected after the coronavirus shuttered offices, hotels and stores last year has so far failed to materialize. Now, as the U.S. economy swings from pandemic lows to a vaccine- and stimulus-induced rebound, the window of… Source link

The Chinese government has called for boycotts of several Western companies — including Nike, Adidas, and H&M — that have made past statements criticizing China for alleged human rights abuses against Uyghurs in the northern province of Xinjiang, where the Chinese government has built a network of internment camps for the Muslim minority group, forcing them to work in textile and other hard-labor manufacturing jobs, according to human rights groups. Though China denies the allegations,… Source link

Bloomberg Surge in Mortgage Rates Threatens to Slow U.S. Housing Rally (Bloomberg) — The pandemic housing rally is getting its first big test.Mortgage rates rose in each of the past three weeks, driven by a bet that inflation will accelerate as the U.S. economy roars back this year. While borrowing costs are still near historic lows, the quick jump has already begun eroding the purchasing power that enabled buyers to push up home prices across the country in recent months.The bidding frenzy… Source link

While China turns to local brands of EV over Tesla, Indonesia’s natural resources show great potential for its battery manufacturing industry. Asia is starting to look like it may overtake the U.S. and Europe in the electric vehicle market as the effects of the global pandemic are steadily improving.  Consumer research carried out by CNBC suggests that Chinese consumers are primarily concerned about price and driving range when considering EVs. In 2020, despite the fall in demand in the… Source link

The futures traded lower Tuesday morning after a big start to the trading week on Monday, with all three major indexes and the Russell 2000 closing at all-time highs. Investors are cheering the possibility for a big stimulus package becoming a reality, and fourth-quarter earnings have been coming in very strong. Top analysts on Wall Street are still pointing to “bubble” metrics, like the massive retail stock and option trading and huge hedge fund leverage as examples. Many are… Source link

Investing February 9, 2021 8:56 am Last Updated: February 9, 2021 9:05 am The futures traded lower Tuesday morning after a big start to the trading week on Monday, with all three major indexes and the Russell 2000 closing at all-time highs. Investors are cheering the possibility for a big stimulus package becoming a reality, and fourth-quarter earnings have been coming in very strong. Top… Source link