All right, some breaking news earlier this hour. It is pretty shocking. Uh Walmart CEO Doug McMillan announcing that he will retire.John Ferner is going to be taking over as CEO on February 1st. Joining us right now is Stacy Whit. She is with SS SSW Retail Advisors.And Stacy, the market sold off on this news. Right now, Walmart shares off by 2 and 3/4%. Uh Doug's been a stalwart.he has really led that company to impressive levels not only in the market cap but also with what he's done in terms of diversifyi ...

Core Insights - JD.com reported non-GAAP earnings of 44 cents per ADS for Q3 2025, exceeding the Zacks Consensus Estimate by 29.41%, although domestic earnings in RMB showed a 62.7% year-over-year decline [1] - The company achieved Q3 revenues of $42 billion, surpassing the Zacks Consensus Estimate by 1.7%, with domestic revenues in RMB increasing by 14.9% year-over-year [2] Revenue Performance - JD Retail generated net revenues of RMB 250.6 billion ($35.2 billion), marking an 11.4% year-over-year increase, with net product revenues rising 10.5% to RMB 226.1 billion ($31.8 billion) [3] - Electronics and home appliances revenues grew 4.9% year-over-year to RMB 128.6 billion ($18.1 billion), while general merchandise revenues surged 18.8% to RMB 97.5 billion ($13.7 billion) [4] - Net service revenues increased by 30.8% year-over-year to RMB 73 billion ($10.3 billion), driven by strong advertising revenues and improved ecosystem dynamics [5] - JD Logistics reported net revenues of RMB 55.1 billion ($7.7 billion), reflecting a 24.1% growth compared to Q3 2024, supported by food delivery business revenues [6] - The New Businesses segment saw revenues of RMB 15.6 billion ($2.2 billion), a significant increase of 213.7% year-over-year, primarily from JD Food Delivery and international businesses [7] Operating Metrics - Non-GAAP EBITDA for Q3 2025 totaled RMB 2.5 billion ($346 million), with a margin decrease to 0.8% from 5.8% year-over-year [9] - Consolidated gross margin decreased by 40 basis points to 17% due to margin dilution from food delivery and JD Logistics [9] - Marketing expenses surged 110.5% year-over-year to RMB 21.1 billion ($3 billion), increasing as a percentage of net revenues to 7% from 3.8% [10] - Research and development expenses rose 28.4% year-over-year to RMB 5.6 billion ($793 million), while general and administrative expenses increased by 28.6% to RMB 3 billion ($420 million) [11] User Engagement - Quarterly active customer numbers increased by over 40% year-over-year, with annual active customers surpassing 700 million in October 2025 [12] - User shopping frequency on the platform also increased by over 40% year-over-year, indicating sustained momentum [12] Financial Position - As of September 30, 2025, cash and cash equivalents totaled RMB 125.3 billion ($17.6 billion), down 3.1% from the previous quarter [13] - Short-term debts rose to RMB 17.1 billion ($2.4 billion), while long-term borrowings increased to RMB 39 billion ($5.5 billion) [14] - Net cash used in operating activities was RMB 8 billion ($1.1 billion), reflecting seasonal working capital requirements and lower profitability [15] - Free cash flow used for Q3 2025 was RMB 11.2 billion ($1.6 billion), compared to a free cash flow generated of RMB 0.5 billion in the previous quarter [16]

Core Viewpoint - Tesla's share price experienced a significant decline of 6.6% on November 13, 2025, which may present a strategic entry point for investors despite the unsettling nature of the drop [1]. Group 1: Reasons for Tesla's Stock Decline - The decline in Tesla's stock was part of a broader sell-off in the technology sector, compounded by specific challenges faced by the company [4]. - The electric vehicle market in China is undergoing a severe price war, leading to a drop in Tesla's market share from 8.7% in September 2025 to 3.2% in October 2025, marking its lowest level in over three years [5]. - Tesla's valuation is under scrutiny, with a forward 12-month earnings ratio of 171.1X compared to the industry's 89.88X, raising concerns about the stock being overpriced relative to its fundamentals [6][7]. Group 2: Future Prospects for Tesla - Despite current challenges, Tesla is pursuing innovative projects that could drive long-term growth, including the development of the Optimus humanoid robot and a Robotaxi network [8]. - Plans to establish a production line for 1 million units of the Optimus robot suggest that non-automotive segments could represent up to 80% of Tesla's future valuation, according to CEO Elon Musk [9]. - The success of these transformative technologies remains uncertain, as their execution and profitability are still in early stages [10]. Group 3: Investment Alternatives through ETFs - For investors looking to mitigate risk while gaining exposure to Tesla, ETFs that include Tesla among their top holdings are recommended, such as XLY, VCR, DRIV, and IDRV [2][11]. - The Consumer Discretionary Select Sector SPDR Fund (XLY) has $23.62 billion in assets, with Tesla comprising 20.16% of its holdings, and has gained 4.1% year to date [13][14]. - The Vanguard Consumer Discretionary ETF (VCR) has $6.4 billion in net assets, with Tesla at 18.18%, and has increased by 2.3% year to date [15]. - The Global X Autonomous & Electric Vehicles ETF (DRIV) has $334.15 million in net assets, with Tesla at 3.17%, and has surged 29.2% year to date [16][17]. - The iShares Self-Driving EV and Tech ETF (IDRV) has $171.08 million in net assets, with Tesla at 4.43%, and has soared 34.1% year to date [18].

Core Insights - NCR Voyix Corporation is a leading global provider of digital commerce solutions, focusing on the retail and restaurant industries [2][6] - The company will have presentations at upcoming investor conferences, with a live webcast available for investors [1][3] Company Overview - NCR Voyix is headquartered in Atlanta, Georgia, and serves customers in over 30 countries [2] - The company reported revenues of $3.8 billion and a net income of $616 million for the year 2023 [3][9] - NCR Voyix employs approximately 14,000 people [3][9] Recent Developments - NCR Voyix has been selected by Marco's Pizza as its preferred technology provider for international expansion, starting with a new store opening in Mexico [6] - The company has partnered with WEX to enable payment for commercial fuel transactions at its cloud-native POS systems in the U.S. [7]

Doug McMillon, Walmart's CEO for just over a decade, is retiring next year, the company says https://t.co/kO5doqw6f4 ...

Core Insights - Walmart Inc. and Target Corporation are two leading players in the U.S. retail sector, each with distinct business models and strategic focuses despite their similarities in scale and omnichannel ambitions [1] Walmart Overview - Walmart operates over 10,500 stores in 19 countries, with a market capitalization of approximately $817 billion, focusing on a value-driven "everyday low prices" model [2] - The company has developed a significant omnichannel ecosystem, utilizing its store network for pickup and same-day delivery, enhancing convenience and maintaining competitive last-mile costs [4][6] - Walmart's growth is supported by higher-margin businesses such as Walmart Connect (advertising), Walmart+ (membership), and financial services, diversifying its earnings beyond merchandise sales [5] - In Q2 of fiscal 2026, Walmart's consolidated sales increased by 5.6% at constant currency, with global e-commerce sales rising by 25% and advertising revenues soaring by 46% [7][10] - Walmart's international operations, particularly in growth markets like Mexico, China, and India, provide additional avenues for expansion and geographic diversification [6] Target Overview - Target operates nearly 2,000 stores in the U.S. with a market capitalization of $41.2 billion, focusing on a blend of style and affordability through a curated mix of products [3] - In Q2 of fiscal 2025, Target experienced a 1.9% decline in comparable sales but achieved a 4.3% growth in digital sales, driven by same-day fulfillment services [10][13] - Target's merchandising strength lies in its private-label brands, which contribute to margin stability and differentiate the brand [11] - The company is enhancing its digital fulfillment capabilities through services like Drive Up and Order Pickup, which leverage its store network to lower delivery costs [12] - Target's current fiscal-year sales and EPS estimates indicate year-over-year declines of 1.4% and 16.6%, respectively [18] Comparative Analysis - Walmart's forward P/E ratio is 35.88, above its historical median, while Target's forward P/E is 11.4, indicating relative undervaluation [24] - Over the past year, Walmart's shares have increased by 21.7%, while Target's shares have decreased by 40.4%, suggesting Walmart's stronger market performance [21] - Walmart's diversified growth drivers and operational resilience position it as the stronger contender in the retail space, while Target's brand equity and improving digital foundation provide a platform for recovery [26]

All right, let's take a look at shares of Walmart. Right now, they are off by three and a quarter percent because the company is just announcing that Doug McMillan, the chairman and CEO, is going to be retiring. He's stepping down from the company uh where he has been in charge for more than 12 years.During that time, Doug McMillan has more than quadrupled Walmart's market cap. He's also set the company up for continued growth. He's been seen as somebody who is not only a stalwart leader but also a a vision ...

John Furner will succeed Doug McMillon as president and chief executive of the retail giant. ...

Economic Indicators - Higher-income shoppers are seeking deals, while younger consumers are tightening their spending according to recent earnings reports from consumer companies [2] - New foreclosure starts in October increased by 20% year-over-year, indicating potential weaknesses in the housing market [4] Retail Sector Insights - Notable exceptions in the retail sector include Coach and Swiss shoemaker On, which experienced growth across all consumer segments, but overall consumer pullback may lead to a challenging holiday retail period [3] Labor Market Developments - Boeing defense workers approved a new contract, concluding a strike that lasted over three months, which delayed production of F-15 fighter jets. The new agreement includes increased bonuses and a 24% wage increase over five years [5][6] IRS Guidelines - The IRS has increased the employee deferral limit for 401(k) plans by $1,000 to $24,500 for 2026, and raised the caps for individual retirement accounts and Roth IRAs by $500 to $7,500 [8][9] Market Perspectives - At CNBC's Delivering Alpha conference, J.P. Morgan Asset & Wealth Management's CEO emphasized viewing AI as an opportunity, while Coatue Management's founder expressed a pessimistic view on the IPO market, describing it as "completely broken" [11]

Group 1: Corporate Developments - Verizon (VZ) is set to implement its largest round of layoffs next week as the new CEO aims to cut costs and address customer losses [3] - Jeff Bezos' Blue Origin (BORGN) successfully launched NASA's Mars mission with the New Glenn rocket and recovered its booster for the first time [4] - Comcast and Netflix (NFLX) are preparing bids for Warner Bros. (WBD) [9] Group 2: Trade and Tariff Changes - The Trump administration plans to remove tariffs on certain goods from Ecuador, Argentina, Guatemala, and El Salvador to help reduce food prices for U.S. consumers [5][6] - The agreements include Argentina opening its market to U.S. live cattle and poultry, while bananas, coffee, beef, cocoa, and certain textiles from these countries will be exempt from tariffs [7] - Current U.S. tariff rates remain at 15% for Ecuador and 10% for Argentina, Guatemala, and El Salvador, with the deals expected to be signed within two weeks [7] Group 3: Economic Context - Heightened political concerns regarding inflation perceptions among U.S. consumers are driving efforts to reduce tariffs on food products [8] - CPI data indicates that banana prices rose by approximately 8% and coffee prices increased by 15% from January to September, while U.S. beef prices reached record levels due to various factors [8]