Key TakeawaysCostco (COST) and Broadcom (AVGO) both reported strong quarterly earnings that surpassed analyst expectations, with Broadcom also providing an optimistic Q1 revenue outlook.Lululemon (LULU) delivered a Q3 earnings beat on revenue and EPS, but its Q4 guidance fell below estimates, overshadowed by the announcement of CEO Calvin McDonald's departure.U.S. equity markets closed mixed, with the Dow Jones Industrial Average surging over 650 points (1.35%), while the Nasdaq Composite saw a slight decli ...

Core Viewpoint - Costco's business is performing well, but its stock faces challenges due to high valuation and lack of catalysts [1][2] Group 1: Business Performance - Costco's revenue grew approximately 8% for both Q4 and the full fiscal year, with comparable sales increasing by 6.4% in Q4 and 7.6% for the full year [3] - There is a slight slowdown in comparable store sales growth, with November's growth at 6.4%, down from 6.8% in October [4] Group 2: Membership Fees and Catalysts - Costco raised membership fees in the U.S. and Canada, contributing to a 14% increase in membership fees in Q4 of fiscal 2025 [6] - The company is unlikely to raise membership fees again for several years, limiting potential profit growth from this source [7] Group 3: Valuation Concerns - Costco's stock trades at about 49 times earnings, significantly higher than the S&P 500's P/E of 25, creating high expectations for performance [9] - The company's business model focuses on passing savings to customers, making rapid margin expansion unlikely [10]

Group 1: Federal Reserve Leadership - President Donald Trump is expected to nominate Kevin Hassett as the next Federal Reserve chair, with prediction markets indicating a high likelihood of this outcome [2] - The new chair will face significant challenges as the Federal Reserve is currently divided on monetary policy direction [3] Group 2: Apple and AI Developments - Apple announced a major leadership change in its artificial intelligence division, with John Giannandrea stepping down and Amar Subramanya taking over [4] - This leadership shift comes amid concerns that Apple's AI technology is falling behind competitors [4] Group 3: Nvidia and Synopsys Partnership - Nvidia has purchased $2 billion worth of Synopsys stock to enhance its computing and AI engineering capabilities, with CEO Jensen Huang describing the agreement as a "huge deal" [5] - Following the announcement, Synopsys shares rose nearly 5%, while Nvidia's stock increased by more than 1% [5] Group 4: Costco's Legal Action - Costco has filed a lawsuit against the Trump administration seeking a refund for tariffs paid this year and to block the collection of these tariffs while the Supreme Court reviews their legality [6][7] - The lawsuit highlights the economic implications of the tariffs, with Costco warning about potential difficulties in obtaining refunds if the court rules against the tariffs [7][8] Group 5: Shopify Outage Impact - Shopify experienced a significant outage during a critical online shopping event, leading to a nearly 6% drop in its stock price [9] - The outage affected merchants' ability to log in and access point-of-sale systems, although the platform began to recover by mid-afternoon [10]

Market Overview - U.S. stock markets opened positively on November 21, 2025, attempting to recover from a volatile week influenced by concerns over AI valuations and the Federal Reserve's monetary policy [1] - Major indexes, including the Dow Jones Industrial Average (DJIA), S&P 500 (SPX), and Nasdaq Composite (IXIC), saw modest gains at the opening bell, but are expected to end the week sharply lower [2] Market Indexes - The DJIA advanced 0.4% at the opening, recovering from a nearly 400-point decline [2] - The S&P 500 rose 0.4% after a 1.6% drop in the previous session, while the Nasdaq opened higher by 0.3% following a 2.2% decline [2] - Despite today's gains, the S&P 500 and Nasdaq are on track for their largest weekly losses since April, attributed to doubts surrounding AI spending and high valuations of tech firms [2] Economic Indicators - Investors are monitoring signals from the Federal Reserve regarding potential interest rate adjustments, with New York Fed President John Williams indicating support for a rate cut "in the near term" [4] - A mixed U.S. jobs report showed healthy growth but a slight rise in unemployment to 4.4% in September, complicating the Fed's decision-making for its December meeting [4] - Upcoming economic data releases include the U.S. Producer Price Index (PPI), Retail Sales, and Consumer Confidence, among others [5] Corporate News - Walmart (WMT) shares rose 6.5% after reporting stronger-than-expected third-quarter results and raising its fiscal 2026 outlook, with a modest 0.4% increase at the open [6] - Nvidia (NVDA) reported strong third-quarter results but saw its shares fall 3.2% due to concerns over AI stock valuations, with a further 0.3% decline at Friday's open [7] - BJ's Wholesale Club (BJ) shares rose 4.5% in premarket trading after exceeding third-quarter net income expectations, though it slipped 2% at the opening [8] - Other companies like Gap (GAP), Intuit (INTU), and Ross Stores (ROST) opened higher following positive earnings reports, while Atkore Inc. (ATKR) plummeted 12.9% after missing earnings estimates [12] Digital Asset Market - Bitcoin continued its downturn, trading around $83,500, down from nearly $125,000 last month, contributing to the overall risk-off sentiment in the market [9]

Market Overview - U.S. stocks traded higher, with the Dow Jones index gaining over 200 points, up 0.48% to 45,973.42, NASDAQ up 0.56% to 22,201.01, and S&P 500 up 0.56% to 6,575.43 [1] - Communication services shares increased by 1.7%, while utilities stocks fell by 0.2% [1] Company Earnings - BJ's Wholesale Club Holdings, Inc. reported third-quarter adjusted earnings per share of $1.16, exceeding the analyst consensus estimate of $1.09 [2] - Quarterly sales reached $5.348 billion, slightly above the expected $5.347 billion [2] - The company raised its fiscal 2025 adjusted EPS guidance to a range of $4.30 to $4.40, up from $4.20 to $4.35, compared to analyst expectations of $4.31 [2] Stock Movements - Iveda Solutions Inc shares surged 63% to $1.06 following a new manufacturing partnership announcement [8] - Nuvve Holding Corp shares increased 56% to $0.26 after entering a Memorandum of Understanding for transportation electrification [8] - OSR Holdings Inc shares rose 43% to $0.65 after a non-binding term sheet for a potential licensing agreement [8] - Liminatus Pharma Inc shares dropped 29% to $0.74 [8] - authID Inc shares fell 20% to $1.37 after announcing a registered direct offering [8] - Pasithea Therapeutics Corp shares decreased 21% to $0.33 following interim trial data announcement [8] Commodity Prices - Oil prices fell by 1.8% to $57.93, while gold prices increased by 0.1% to $4,065.80 [5] - Silver prices decreased by 2.1% to $49.235, and copper fell by 0.1% to $4.9625 [5] European Market Performance - European shares were lower, with the eurozone's STOXX 600 down 0.4% and Spain's IBEX 35 Index down 0.9% [6] - London's FTSE 100 fell 0.1%, Germany's DAX 40 declined 0.3%, and France's CAC 40 fell 0.1% [6] Asian Market Performance - Asian markets closed lower, with Japan's Nikkei 225 down 2.40%, Hong Kong's Hang Seng down 2.38%, China's Shanghai Composite down 2.45%, and India's BSE Sensex down 0.47% [9]

U.S. stocks traded higher this morning, with the Dow Jones index gaining more than 200 points on Friday.Following the market opening Friday, the Dow traded up 0.48% to 45,973.42 while the NASDAQ gained 0.56% to 22,201.01. The S&P 500 also rose, gaining, 0.56% to 6,575.43.Check This Out: Jim Cramer: This Communication Services Stock Is ‘Too Speculative’Leading and Lagging SectorsCommunication services shares jumped by 1.7% on Friday.In trading on Friday, utilities stocks fell by 0.2%.Top HeadlineBJ's Wholesa ...

Back to Market on Close. I'm Marley Caden here in [music] Chicago alongside Sam Bodis at the New York Stock Exchange. We'll close out this Thursday's show with some thoughts on the session today.Some takeaways for me. Our labor market data drought is finally over. We got September's non-farm payrolls report this morning.The economy added 119,000 jobs in the month, which topped expectations for 50,000. That's in contrast to the 4,000 jobs lost in August following a downward revision. July was also revised do ...

Core Viewpoint - Evercore ISI has lowered its price target for BJ's Wholesale Club Holdings to $85 from $100, maintaining an In Line rating due to near-term margin pressures and slowing comparable-store sales [1] Financial Estimates - FY2025 EPS estimate has been cut to $4.25 and FY2026 EPS to $4.65, with expectations of modest price and wage investments to support market share and inventory turnover [2] - Q3 comparable sales growth is forecasted to be below 2%, compared to Street estimates of 2.5%, with EPS expected at $1.07, slightly below the consensus of $1.10 [3] Margin and Profitability - A 60-basis-point decline in gross margin is modeled as BJ's invests in pricing to strengthen member loyalty, while fuel mix and penny profit pressures weigh on profitability [3] - EBIT margin is forecasted at 4%, down 60 bps year over year, with EBIT expected to be $210 million, representing a 9% decline compared to the prior year [3] Future Guidance - Management is likely to guide for a 1–2% comparable sales growth in the fourth quarter, implying EPS of $0.88–$0.92 versus Street estimates of $0.94 [4] Executive Changes - Recent executive changes, including the departure of Chief Merchant Rachel Vegas to Walgreens, may indicate challenges in BJ's merchandising strategy [5] - Despite improvements in general merchandise offerings, comparable sales in the 2–3% range suggest market share softness relative to expectations for steady 3–4% growth and operating margin expansion [5]

Group 1 - Warren Buffett's performance as CEO of Berkshire Hathaway is under scrutiny as the company underperformed the S&P 500 in 2025, with Berkshire stock up 11.3% compared to the S&P 500's 16.9% gain [5] - Berkshire Hathaway significantly increased its stake in Pool Corp by 136% in Q2 2025, following a 145% increase in Q1 2025, bringing the total shares held to 3,458,885 [2] - Pool Corp, a leading distributor of pool equipment, has missed revenue estimates for three consecutive quarters, resulting in a decline in its stock price from $291.48 at the end of Q2 to $251.87 [3] Group 2 - The current value of Berkshire Hathaway's stake in Pool Corp is approximately $871.19 million, reflecting a loss of around $137 million or 13.6% since the end of Q2 [4] - The upcoming third-quarter 13F filing from Berkshire Hathaway is anticipated to reveal any new positions or changes in existing investments, particularly regarding Pool Corp [6]

Group 1: Costco Product Recall - Costco is recalling over 940,000 bottles of its Kirkland Signature Prosecco Valdobbiadene due to a "laceration hazard" from bottles unexpectedly shattering, with at least one injury reported [3][4]. - The affected prosecco was sold for approximately $8 per bottle in several U.S. states between April 2025 and August 2025 [4]. Group 2: UPS and FedEx Aviation Safety Measures - UPS and FedEx have temporarily grounded their fleets of McDonnell Douglas MD-11 cargo jets following a fatal crash in Louisville, Kentucky, that claimed 14 lives [5][6]. - The grounding affects about 9% of UPS's airline fleet and 4% of FedEx's fleet, with FedEx grounding its 28 MD-11s out of approximately 700 total aircraft [6]. Group 3: Investor Sentiment and AI Boom - Investor confidence in the economic outlook and the artificial intelligence (AI) boom is wavering, prompting a reassessment of high valuations in the technology sector [7][9]. - Fund managers are reportedly increasing demand for dividend-paying equities, U.S. Treasury bonds, and gold as part of a broader risk management strategy [8]. Group 4: Global Billionaire Wealth Trends - The global billionaire count has reached a record high of 3,508 individuals, marking a 5.6% growth in 2024, with total net worth surging by 10.3% to a record $13.4 trillion [10][11]. - U.S. billionaires account for approximately one-third of the global total and control 43% of the world's total billionaire fortune, driven largely by the strong performance of U.S. technology stocks and gains in the AI sector [11].