Welcome to Young Financ's flagship show, Morning Brief. I'm Julie Hyman. Let's get to the three things you need to know today.First up, US stock futures a little changed. That's after the major averages closed in the red yet again. This S&P 500 recording its fourth consecutive day of losses.That's the longest losing streak since August. The benchmark index has now fallen 3% this month. That's on track for its worst November since 2008.But the big focus for investors will be after the closing bell. Nvidia ea ...

Money markets indicated there was an 87pc chance of a reduction in borrowing costs in December, compared to 79pc before the CPI data was published.However, there was some comfort for mortgage holders as traders raised bets on the Bank of England cutting interest rates next month following the drop in inflation.Tory leader Kemi Badenoch said inflation “has nearly doubled” since Labour came to power. She pointed to the ONS figures showing food inflation rose from 4.5pc in September to 4.9pc in October, which ...

Core Insights - Walgreens is enhancing the holiday shopping experience by offering significant savings from Black Friday through Christmas Day, featuring the lowest prices of the season on various products [1] Group 1: Promotions and Offers - Shoppers can access exciting savings on trending toys, family-favorite games, beauty products, home necessities, and sweet treats [1] - The retailer aims to make holiday celebrations more affordable, allowing customers to enjoy the season without overspending [1]

Target joins OpenAI’s growing list of retail apps https://t.co/9EqVt4U1dF ...

Earnings Performance & Expectations - AMD's earnings have consistently surpassed expectations for the past five years, with analysts projecting an 18.7% increase in 2025 and a significant 54% jump thereafter [3][4] - McDonald's has a strong earnings surprise track record, but earnings growth is expected to be slower, with 5.1% in 2025 and 8.4% in 2026 [6][7] - Qualcomm demonstrates a great earning surprise track record, with earnings expected to increase by 16.3% in 2025, but no growth is expected in 2026 [9][10] - Ralph Lauren exhibits a strong earnings track record, with analysts anticipating a 21.6% increase this year, followed by 9% in 2026 [13][15] - Ino Data, a small-cap AI play, has shown four consecutive big beats, but earnings are expected to be down 12.4% this year, followed by a significant gain of 39.7% in 2026 [17][18] Valuation & Market Sentiment - AMD's stock is trading at 65 times earnings, with investors seemingly unconcerned about valuations in the AI sector for now [4][5] - McDonald's is trading at a PE of 24 times, which is considered fairly expensive for its single-digit earnings growth [8] - Qualcomm is trading at a PE of 15 times, considered cheap for a tech AI play [12] - Ralph Lauren is trading at 21.3 times forward earnings, which is not super stretched if it achieves its projected earnings growth [16] - Ino Data has a high PE of 96 times following a recent breakout [18] Key Factors & Challenges - Tariffs are a significant issue for retailers like Ralph Lauren, impacting sourcing and pricing strategies [13][14] - McDonald's is facing investor concerns about its ability to execute, particularly regarding the effectiveness of its value menu [8] - Qualcomm's potential for earnings growth is tied to its new rack scale performance and memory capacity for data center AIs [11] - The consumer's willingness to absorb price increases due to tariffs is a key concern for retailers [14]

Kroger's decision to scale back its partnership with Ocado is a blow to the UK firm's ambitions to be the online food tech company of choice for retailers, writes @AndreaFelsted (via @opinion) https://t.co/uRQqFOSBDZ ...

Market Overview - The S&P 500, Nasdaq Composite, and Dow Jones Industrial Average all fell around 1%, with the Dow experiencing its steepest drop after a record high since 1999 [2] - The Russell 2000 was the only index to close positive, gaining 0.3% [2] Earnings Reports - Lowe's reported a beat on earnings with comparable same-store sales up 0.4% for the quarter, while Target's shares fell over 2% due to a revenue miss, with same-store sales down 2.7% against an estimated drop of 2.1% [3][4] - Target lowered its guidance and announced plans to increase capital expenditures [4] Federal Reserve Insights - The minutes from the recent Federal Reserve Open Market Committee meeting will be released, with analysts looking for insights on the Fed's thinking amid limited economic data [5] - The probability of a rate cut in December has dropped to just under 47%, down from 94% a month ago [5] Nvidia's Earnings Anticipation - Nvidia is set to report quarterly results, with analysts expecting earnings of $1.26 per share and the options market pricing in an expected move of 7% by Friday [6] - Key questions for Nvidia's performance include forward guidance, demand for chips, and the impact of trade restrictions with China [6] AI Investment Concerns - There are growing questions about the sustainability and ethical implications of investments in AI, highlighted by Nvidia and Microsoft's $15 billion investment in Anthropic [7][8] - The potential outcomes of current investment dependencies in AI include stronger codependency, a focus on fewer startups, or a wave of acquisitions by larger companies [8] Trading Outlook - The release of FOMC minutes and Nvidia's earnings announcement could lead to significant market volatility [9] - Traders who favor volatility may find this week particularly engaging, while those averse to it may prefer to wait for more stable conditions [9]

Retail developer Michael Comras is making a fresh bet on Miami Beach’s Lincoln Road, scooping up a cluster of buildings a decade after unloading much of his portfolio on the famed promenade https://t.co/ikqpt7wCOx ...

Core Viewpoint - DICK'S Sporting Goods, Inc. will participate in a fireside chat at the Morgan Stanley Global Consumer & Retail Conference on December 3, 2025, at 10:15 a.m. Eastern Time, which will be available via webcast [1]. Company Overview - DICK'S Sporting Goods, founded in 1948 and headquartered in Pittsburgh, Pennsylvania, is a leading omni-channel retailer and an iconic brand in sports and culture [2]. - The company operates various banners including DICK'S Sporting Goods, Golf Galaxy, Public Lands, and Going Going Gone!, as well as experiential retail concepts like DICK'S House of Sport and Golf Galaxy Performance Center [2]. - DICK'S also owns and operates the Foot Locker business, which includes brands such as Foot Locker, Kids Foot Locker, Champs Sports, WSS, and atmos, serving the global sneaker community across multiple continents [2]. - The company is committed to youth sports, having donated millions through its Sports Matter program and other community initiatives [2]. Investor Relations - Investor relations contact is Nate Gilch, Vice President of Investor Relations, reachable at (724) 273-3400 or via email [3].

Core Insights - Griffon Corporation reported a fiscal 2025 revenue of $2.5 billion, a 4% decrease from $2.6 billion in the previous year [1] - The company experienced a significant decline in net income, totaling $51.1 million or $1.09 per share, compared to $209.9 million or $4.23 per share in the prior year [2] - Adjusted net income for fiscal 2025 was $263.6 million, or $5.65 per share, an increase from $254.2 million, or $5.12 per share, in the previous year [3] Financial Performance - Fiscal 2025 adjusted EBITDA was $522.3 million, a 2% increase from $513.6 million in the prior year [4] - Fourth quarter revenue was $662.2 million, slightly up from $659.7 million in the same quarter of the previous year [5] - Fourth quarter net income was $43.6 million, or $0.95 per share, down from $62.5 million, or $1.29 per share, in the prior year quarter [6] Segment Performance - Home and Building Products (HBP) revenue for 2025 was $1.6 billion, consistent with the prior year, with a 2% favorable price and mix offset by a 2% decrease in volume [10] - Consumer and Professional Products (CPP) revenue in 2025 was $0.9 billion, a decline of 10% compared to 2024, primarily due to a 12% decrease in volume driven by reduced consumer demand [12] - HBP adjusted EBITDA for 2025 was $494.6 million, a 1% decrease from the previous year, while CPP adjusted EBITDA increased by 18% to $85.5 million [13][10] Cash Flow and Shareholder Returns - The company generated $323 million in free cash flow during the year, which supported the repurchase of 1.9 million shares and regular quarterly dividends [8] - Griffon returned a total of $174 million to shareholders in 2025 through dividends and share repurchases [8] - A 22% increase in the regular quarterly dividend to $0.22 per share was announced, reflecting confidence in the company's strategic plan [9] Balance Sheet and Capital Expenditures - As of September 30, 2025, Griffon had cash and equivalents of $99 million and total debt outstanding of $1.41 billion, resulting in net debt of $1.31 billion [17] - The company reduced its debt by approximately $116 million during the year, improving leverage to 2.4x from 2.6x in the prior year [17] - Capital expenditures for the year were $34.4 million, including $18 million from asset sales [17] 2026 Outlook - For fiscal year 2026, Griffon expects revenue to remain at $2.5 billion and adjusted EBITDA in the range of $580 million to $600 million [20] - The company anticipates HBP and CPP revenue to be in line with 2025, with HBP EBITDA margin exceeding 30% and CPP around 10% [21]