France's CAC 40 rose to a record high Thursday morning as stocks climbed higher, reacting to U.S. President Donald Trump signing a bill to end the longest government shutdown in history. Expectations of an interest rate cut by the Federal Reserve next month contribute as well to market's positive move.The CAC 40 was up 41.45 points or 0.5% at 8,282.69 a few minutes ago.Kering is rising 2.75%, Societe Generale is moving up 2.35% and Credit Agricole is gaining 2%. Carrefour is up nearly 2% after the Saadé fa ...

Core Points - B. Riley Financial is facing significant challenges due to a scandal involving hedge fund investor Brian Kahn, who has been charged with criminal fraud [1][2] - Kahn's management buyout of Franchise Group, financed partly by $600 million in B. Riley debt, has been linked to substantial investor losses and the collapse of Prophecy Asset Management [2][4] - The Franchise Group filed for bankruptcy in November 2024, exacerbating B. Riley's financial troubles [6] Group 1 - Brian Kahn, who led a failed management buyout, has been charged with conspiracy to commit securities fraud, resulting in over $350 million in investor losses [2][4] - The criminal indictment against Kahn was linked to the collapse of Prophecy Asset Management, which had previously lost significant investor funds [3][4] - B. Riley Financial provided $600 million in debt for the management buyout and took a 31% stake in Franchise Group, which included brands like Vitamin Shoppe [5][6] Group 2 - The fallout from the hedge fund scandal and declining sales led to the bankruptcy of Franchise Group, impacting B. Riley's financial standing [6] - B. Riley has received SEC subpoenas regarding its dealings with Kahn and Franchise Group, indicating ongoing regulatory scrutiny [6]

Market Sentiment - Positive sentiment in Asian markets was influenced by the end of the longest U.S. government shutdown and China's plans to boost the new energy battery industry [1] Stock Market Performance - China's Shanghai Composite Index increased by 0.73% to close at 4,029.50, with a trading range of 3,994.77 to 4,030.40 [2] - The Shenzhen Component Index rose by 1.8% to finish at 13,476.52 [2] - Japan's Nikkei 225 gained 0.44%, closing at 51,288.00, with a trading range between 50,956 and 51,351 [2] - Korea's Kospi Index added 0.49%, closing at 4,170.63, with a trading range of 4,123.84 to 4,180.21 [4] - The Hang Seng Index in Hong Kong increased by 0.56% to finish at 27,073.03, trading between a high of 27,188.81 and a low of 26,733.21 [4] - Australia's S&P/ASX200 closed at 8,753.40, down 0.52%, with a trading range of 8,701.80 to 8,799.60 [5] - New Zealand's NZX 50 decreased by 0.54% to close at 13,597.87, with a trading range of 13,597.87 to 13,725.62 [6] Notable Stock Movements - M3 surged by 23.5%, while Furukawa Electric and Isuzu Motors both gained close to 12% [3] - Mining IGO led gains in Australia with a 15.3% increase, followed by Domino's Pizza Enterprises at 11.7% [5] - DroneShield's stock plummeted over 31% after its CEO sold shares [6] - Mainfreight rose by 8.7%, while Skycity Entertainment gained 6.4% [7] - Terumo Corp experienced a decline of 6.3%, and Kuraray lost 5.8% [3]

Market Overview & Strategy - The market demonstrates strength with rotation into reasonably priced stocks outside the AI space, indicating a broader base beyond data center spending [2][3][4] - A rotation into undervalued companies that could catch fire is happening, defying the bears [4] - Growth investing in non-tech style is making a comeback [22][26] Travel & Leisure Sector - Travel stocks, including airline stocks like United and Delta, and Expedia, are recovering as the government shutdown ends [5] - Cruise lines and hotels are expected to experience similar gains as travel stocks [5] - Analysts are anticipated to turn positive on travel stocks, including Marriott and Wynn Resorts, as the government reopens and China's economy strengthens [6][7] Restaurant Sector - Restaurants like Brinker (parent of Chili's), Texas Roadhouse, and Chipotle are showing signs of recovery [11] - Brinker reported a terrific quarter, while Texas Roadhouse was impacted by beef inflation [11][12] - Starbucks' last quarter was positive, and Darden (Olive Garden) is a buy due to consumer confidence [13][14] Retail Sector - Retail owners are encouraged to promote usual suspects, especially with the collapse of oil prices [14] - On Holdings reported a remarkable quarter with no planned holiday discounts [15] - Retailers like Urban Outfitters, Macy's, and Costco are highlighted as potentially undervalued [16][17] Financial Sector - Bank stocks are considered absurdly cheap compared to the rest of the market [18] - A surge in IPO filings is expected from Goldman Sachs, Bank of America, JP Morgan, and Wells Fargo [19] Healthcare Sector - Amgen announced a breakthrough in Repatha, an injection to prevent heart attacks [20] - Pfizer is suggested as a potential buy to enter the lucrative weight loss business [20] Company Specific - Celsius had a bad miss in the last quarter, and it's recommended to wait another quarter [23][24] - Deere is expected to benefit from farmers receiving checks [25] - Flood Entertainment is on the move after reporting good earnings [27] - AMG soared 9% on the heels of its Analyst Day [27]

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Core Insights - The upcoming holiday season is expected to boost retail sales significantly, contributing to major retailers' revenues [1] - Retail sales during November and December are projected to increase by 3.7% to 4.2%, reaching approximately $1.01 trillion to $1.02 trillion, marking the first time U.S. holiday sales are expected to exceed $1 trillion [2] - Economic concerns, including a federal government shutdown, may dampen sales growth, affecting consumer demand [3] Retail Sales Projections - Total holiday spending is anticipated to reach between $1.01 trillion and $1.02 trillion, with a year-over-year increase of 3.7% to 4.2% [2] - Last year's holiday sales were $976.1 billion, reflecting a 4.3% increase from the previous year [2] Economic Impact - The federal government shutdown is identified as a key headwind, potentially leading to a loss of private-sector income and impacting consumer spending patterns [3] - While some economic impacts are expected to be temporary, they may still influence consumer behavior during the holiday season [3] Government Funding Bill - The Senate passed a bill to fund the federal government through January, ending the longest shutdown in U.S. history, with a vote of 60-40 [4] - The bill will proceed to the House of Representatives for consideration before reaching the President for signature [5] Consumer Behavior Trends - Consumers are showing caution but remain fundamentally strong, with lower-income consumers prioritizing essential goods over non-essentials [6] - This trend may negatively impact sectors related to services, such as recreation and dining, while benefiting retail and discretionary ETFs [6] Online Shopping Insights - U.S. online sales are projected to reach $253.4 billion this holiday season, reflecting a 5.3% year-over-year growth [7] - Cyber Week is expected to account for 17.2% of overall spending, totaling $43.7 billion, with a 6.3% increase from the previous year [8] Investment Opportunities - The online shopping trend is likely to benefit ETFs focused on online retail, such as ProShares Online Retail ETF (ONLN) [8] - The "Buy Now Pay Later" trend is expected to drive an additional $2 billion in online spending, favoring iShares FinTech Active ETF (BPAY) [8] - The use of generative AI for shopping is anticipated to create investment opportunities in Roundhill Generative AI & Technology ETF (CHAT) [9]

Core Viewpoint - The market anticipates a year-over-year decline in Target's earnings due to lower revenues, with a focus on how actual results compare to estimates impacting stock price [1][2]. Earnings Expectations - Target is expected to report quarterly earnings of $1.77 per share, reflecting a year-over-year decrease of 4.3% [3]. - Revenue projections stand at $25.36 billion, indicating a decline of 1.2% from the previous year [3]. Estimate Revisions - The consensus EPS estimate has remained unchanged over the last 30 days, suggesting stability in analysts' outlooks [4]. - The Most Accurate Estimate for Target is lower than the Zacks Consensus Estimate, resulting in an Earnings ESP of -5.23%, indicating a bearish sentiment among analysts [12]. Earnings Surprise Prediction - The Zacks Earnings ESP model suggests that a positive reading is a strong predictor of an earnings beat, particularly when combined with a Zacks Rank of 1, 2, or 3 [10]. - Target currently holds a Zacks Rank of 3, complicating predictions of an earnings beat due to the negative Earnings ESP [12]. Historical Performance - In the last reported quarter, Target was expected to earn $2.09 per share but only achieved $2.05, resulting in a surprise of -1.91% [13]. - Over the past four quarters, Target has only beaten consensus EPS estimates once [14]. Conclusion - Target does not appear to be a strong candidate for an earnings beat, and investors should consider additional factors when making decisions regarding the stock ahead of the earnings release [17].

Core Insights - Vonage's partnership with Confer With enhances eCommerce by integrating video and messaging APIs, resulting in improved customer engagement and sales performance [1][3][5] Group 1: Technology Integration - Confer With utilizes Vonage's Video API and Messages API, including RCS, WhatsApp, and SMS, to create a seamless shopping experience [3][4] - The integration of these technologies has led to a 23% increase in shopping conversion rates and a 50% increase in average order value compared to traditional eCommerce methods [3][4] Group 2: Customer Experience - The video-assisted shopping feature allows for real-time, face-to-face consultations, fostering trust and connection between brands and customers [4] - Enhanced customer interactions through RCS enable dynamic conversations with interactive elements, improving engagement from browsing to purchasing [4] Group 3: Business Impact - The use of Vonage APIs has enabled Confer With to deliver scalable digital shopping experiences, enhancing operational efficiencies and reducing costs for retailers [5] - The technology partnership demonstrates the potential for transforming digital interactions in retail, showcasing the effectiveness of Vonage's solutions [5][6]

Group 1: Nvidia and Market Trends - Nvidia's influence on the S&P 500 is significant, with the index tracking closer to Nvidia than its 500 components, while SoftBank sold its entire stake in Nvidia for $5.8 billion [3] - The ADP reported a discrepancy in job data, initially estimating 42,000 jobs added in October, but later indicating a decline of 11,250 private payrolls weekly [3] Group 2: Climate Change and Energy Sector - The COP30 climate talks in Brazil highlight the country's expansion of its fossil fuel industry, with crude oil surpassing soybeans as the top export [4] - Petrobras is set to begin production at the Buzios oil platform, amidst controversy over drilling near the Amazon River [4] - Brazilian President Lula emphasized the need for a just energy transition financed by oil revenues, suggesting fossil fuel demand may continue until 2050, contrary to earlier expectations for a rapid shift to cleaner energy [4] - The S&P Global Clean Energy Index has risen 46% year-to-date, contrasting with a modest 7% gain in the S&P 500 Energy Sector Index due to rising inventories and sluggish global demand [4] Group 3: Corporate Developments - FedEx is experiencing a rally due to favorable guidance amid the holiday season [6] - Target is lowering prices on 3,000 items for the holiday season [6] - General Motors is directing suppliers to reduce reliance on China supply chains [6]

Dow futures inched a bit higher on Wednesday, up around 0.1% or 80 points after the Dow Jones Industrial Average hit a record high the day before. The good vibes came from growing optimism over a possible US government funding deal and solid showings from big names like Walmart and McDonald's. ...