Retailers such as Target (TGT) and Foot Locker (FL) are set to report their quarterly results this week. Storch Advisors CEO Jerry Storch joins Yahoo Finance Live to discuss the current state of the consumer. Storch, the former CEO of Toys “R” Us and Hudson’s Bay, says so far “the consumer has held up pretty well.” Despite this resilience, he notes that “inflation is still real” and other pressures remain, so investors will be watching retail results “with a very sharp eye.” Retail earnings… Source link
Read More »Amazon is exploring offer for Peloton, source says; report says Nike also weighing bid
(Reuters) -Peloton Interactive Inc has drawn interest from potential buyers including e-commerce giant Amazon.com Inc, according to a person familiar with the matter, as the exercise bike maker struggles to maintain pandemic-fueled growth. Shares of Peloton surged 30% in extended trading on the news, which comes days after activist investor Blackwells Capital urged the company’s board to put it up for sale. Amazon is exploring an offer for Peloton and is speaking with advisers about whether… Source link
Read More »Unusually ‘generous’ unemployment benefits weighing on job market rebound: Goldman Sachs
Goldman Sachs thinks the surprisingly lackluster April jobs report could be partially explained on the generosity of Uncle Sam. “We see two partial explanations for the payrolls disappointment. First, reopening effects likely overlapped with normal seasonal hiring patterns, resulting in less-impressive job gains on a seasonally-adjusted basis. Second, labor supply appears to be tighter than the unemployment rate suggests, likely reflecting the impact of unusually generous unemployment… Source link
Read More »Google is weighing an anti-tracking feature for Android, following Apple’s lead
Google is considering developing an Android alternative to Apple’s upcoming App Tracking Transparency, a new planned opt-in requirement the iPhone maker will impose on developers that demands they ask for permission to track iOS users across apps and websites. The news, first reported on Thursday by Bloomberg, underscores the increasing pressure on large tech companies, many spurred on by Apple, to take more proactive measures to better protect user privacy. Google won’t say whether… Source link
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