Core Viewpoint - Wayfair's recent earnings report shows significant growth in earnings and revenues, indicating a positive trend for the company despite a slight decline in active customers [2][3][4]. Financial Performance - Wayfair reported Q3 2025 non-GAAP earnings of 70 cents per share, exceeding estimates by 52.17% and increasing 218.2% year over year [2]. - Net revenues for Q3 2025 rose 8.1% year over year to $3.1 billion, beating estimates by 3.62% [2]. - Gross profit for Q3 was $934 million, up 7% year over year, with a gross margin of 30% [7]. Customer Metrics - Last Twelve Months (LTM) net revenues per active customer increased 6.1% year over year to $578, surpassing estimates by 5.75% [3]. - The active customer base declined 2.3% year over year to 21.2 million, missing the consensus mark by 3.19% [3]. - Orders per customer increased to 1.87, up from 1.85 in the previous year, beating estimates by 3.32% [5]. Operational Efficiency - Adjusted EBITDA for Q3 was $208 million, up 74.8% year over year, with an adjusted EBITDA margin of 6.7%, expanding 250 basis points [7]. - Advertising expenses decreased 6.8% year over year to $330 million, while general and administrative expenses decreased 7.3% to $445 million [8][9]. Balance Sheet and Cash Flow - As of September 30, 2025, cash and short-term investments were $1.2 billion, down from $1.4 billion [10]. - Long-term debt decreased to $2.7 billion from $2.9 billion [10]. - Non-GAAP free cash flow for Q3 was reported at $93 million [10]. Future Guidance - For Q4 2025, Wayfair expects revenue growth in the mid-single digits year over year, factoring in a 100 basis-point headwind from exiting the German market [11]. - Gross margin is anticipated to range between 30% and 31% by the end of Q4 2025 [12]. Market Sentiment - There has been a notable upward trend in estimates, with a 92.31% shift in consensus estimates over the past month [13]. - Wayfair currently holds a Zacks Rank 3 (Hold), indicating expectations for an in-line return in the coming months [15].

Mike Ashley has been locked in a bitter row with Boohoo’s board and its founder, Mahmud Kamani - Eddie Keogh/Reuters Boohoo has blocked Mike Ashley from voting on a £150m bonus scheme for its chief executive. The development comes as the online retailer launches an attempt to turn around its languishing share price. The board of Boohoo, which was recently renamed Debenhams Group, said it intended to approve the scheme without a shareholder vote, which is a typical process for listed companies. It will ...

Core Insights - Alibaba Group's shares increased by 0.4% following mixed Q2 fiscal 2026 results, with revenue growth but a decline in profitability [1] - The company faces significant competition in the global e-commerce market, which may limit investor interest despite the recent share price uptick [1] - A 78% year-over-year decline in adjusted EBITDA raises concerns for potential investors, although this is attributed to strategic investments rather than operational inefficiencies [2] Financial Performance - Alibaba's adjusted earnings were 61 cents per ADS, missing the Zacks Consensus Estimate by 7.6% and down 71% year over year [6] - Revenues reached $34.8 billion, exceeding the Zacks Consensus Estimate by 1.09% and increasing by 5% year over year [6] - Revenue growth was driven by the Cloud Intelligence Group and domestic e-commerce, while investments in quick commerce pressured margins [7] Segment Analysis - The Alibaba China E-commerce Group generated revenues of $18.6 billion, a 16% increase year over year [8] - The core e-commerce vertical reported revenues of $14.5 billion, up 9% from the previous year [8] - The International Digital Commerce Group's revenues grew by 10% year over year to $4.6 billion [8] Cash Flow and Share Repurchase - Cash from operations was $1.4 billion, down 68% from the prior year due to increased investments [8] - The company repurchased $1.3 billion worth of shares, resulting in a 5% net reduction in total shares outstanding year to date [9] E-commerce Market Outlook - The global e-commerce market is projected to reach $6.42 trillion in 2025 and $7.89 trillion by 2028, indicating strong growth potential [3] Investment Strategy - For investors seeking exposure to e-commerce growth while mitigating risks associated with Alibaba, ETFs with significant BABA exposure may be a prudent option [4] ETF Performance - Invesco Golden Dragon China ETF (PGJ) has a NAV of $29.85, with Alibaba holding 9.47% of the fund and a year-to-date gain of 17% [10] - ProShares Online Retail ETF (ONLN) has a NAV of $59.11, with Alibaba at 11.74% weightage and a year-to-date surge of 32.7% [12] - CoreValues Alpha Greater China Growth ETF (CGRO) has a NAV of $5.49 million, with Alibaba at 10.23% weightage and a year-to-date increase of 20.5% [13]

Core Insights - The company anticipates an EBITDA of 45 million pounds for fiscal 2026, with expectations for double-digit percentage growth in the following fiscal year [1]

Group 1: Market Overview - The current market sentiment is questioning whether there is an AI bubble, with a focus on sector rotations, particularly between Google and Nvidia, which are outperforming the S&P 500 year-to-date [2] Group 2: eBay Analysis - eBay is experiencing a bearish outlook, with expectations of a decline below the $80 level, following a recent flirtation with this price point [4][6] - The stock has seen a significant pullback after reaching a high of $101.5, with a notable drop of 14% since the last earnings report, although it remains up 34% year-to-date [12] - Technical analysis indicates that eBay has a resistance level at $87 and a support level around $78.78, with the current trading price at approximately $83.47 [8][10] Group 3: Walmart Analysis - Walmart is viewed positively, especially following a strong earnings report and the anticipation of increased sales during the holiday season [13][14] - The stock is expected to experience a gamma squeeze due to significant call option buying activity, which could drive the stock price higher [15][19] - Technical indicators show an upward trend, with notable support between $104 and $105, and a breakout level at $110 [20][25] Group 4: Meta Analysis - Meta has faced a decline of over 13% following earnings, with a recent short covering rally bringing the price back from $580 to around $640, but this is expected to be short-lived [27][29] - The current strategy involves a bearish position, anticipating a return to the downtrend with a focus on a December 5th expiration for options trading [30][32] - Technical analysis reveals a critical support level around $586, with the stock currently trading at approximately $637.47, indicating potential volatility ahead [35][37]

Core Insights - The holiday shopping season begins with Thanksgiving, Black Friday, and Cyber Monday, which are critical for gauging consumer economic strength and stock market performance [1][2]. Market Performance Post-Thanksgiving - Historically, the week after Thanksgiving has shown a bullish trend, with an average gain of 0.66% for the S&P 500 Index (SPX), compared to 0.18% for a typical week [3][4]. - 69% of the post-Black Friday weeks have been positive, indicating a stronger performance than the average of 57% for all weeks [3][4]. Daily Performance Breakdown - Cyber Monday has been particularly poor for SPX, averaging a loss of 0.26% with only 40% of returns positive [6]. - The best performing days in the week after Thanksgiving are Wednesday and Friday, with Friday averaging a gain of 0.55% and 77% of returns positive [6][7]. Longer-Term Market Trends - Stronger performance in the week after Thanksgiving correlates with better returns over the next three months. A gain of at least 1% after Thanksgiving week leads to an average return of 3.9% over the following three months [9][10]. - Conversely, a negative week after Thanksgiving results in an average loss of 4.1% over the next three months [10][11]. Year-End Performance - The SPX typically performs well for the rest of the year, with a gain of 1.6% when the post-Thanksgiving week is down 1% or more, and 0.52% when it is up by 1% or more [13][14]. Notable Stocks for the Holiday Season - Hewlett Packard Enterprises (HPE) and CME Group (CME) have been positive every year during the week after Thanksgiving, while retailers like Ross Stores (ROST), Nike (NKE), and Target (TGT) also show strong performance [17][18]. - Major retailers such as Amazon.com (AMZN) and Walmart (WMT) have underperformed, with AMZN averaging a return of 0.85% and WMT showing a slight loss of -0.13% [19].

Market Overview - The Dow is up 1.3%, with the Nasdaq and S&P 500 also showing gains, driven by hopes of a Fed rate cut in December benefiting small-cap companies [2][4]. - The 10-year Treasury note is at 4%, and the US dollar is slightly declining [3]. - Healthcare and consumer discretionary sectors are performing well, with notable gains from retailers like Walmart and Home Depot [3][4]. Big Tech Performance - Alphabet is nearing a $4 trillion market cap, driven by a recent rally and strong performance from its new AI model, Gemini 3 [24][40]. - Nvidia's stock is down 3% amid competition concerns, particularly from Google's potential AI chip sales to Meta [5][73]. - Alphabet's stock has outperformed other tech giants like Nvidia and Microsoft, with a year-to-date performance increase of over 100% compared to Nvidia's slump [36][40]. Investment Insights - Investors are advised to consider trimming positions in overexposed tech stocks, particularly those heavily weighted in portfolios, to manage risk [10][11]. - Founder-led companies are highlighted as potentially more stable investments due to conservative balance sheets and cash reserves [15][16]. - The AI infrastructure buildout is identified as a significant investment opportunity, particularly in power generation and industrial sectors, as power is seen as the biggest bottleneck for AI growth [118][120]. Retail Sector Updates - Retailers like Abercrombie & Fitch and Kohl's reported mixed results, with Abercrombie's Hollister brand showing strong same-store sales growth of 15% [78][81]. - Best Buy reported a 3% increase in same-store sales, attributed to AI-driven product innovations [85][87]. Cryptocurrency Market - Bitcoin is down 1.5%, trading around $86,000, unable to sustain a recent rally [6][74]. - Coinbase has been downgraded from buy to hold due to its stock trading at a higher range compared to peers [74].

Core Insights - eBay is experiencing a downturn following its latest earnings report released at the end of October, with a significant gap remaining near the highs, indicating potential market reversal opportunities [1] - The stock is approaching a support area around $80, which corresponds to a high from October 2021, suggesting a potential rebound zone [2][3] - The invalidation level is set at $68.36, and the overall market structure remains bullish on higher time frames, maintaining the possibility of a rebound [2][3] Summary by Sections - **Market Movement** - eBay's stock is currently in a three-wave decline, which aligns with the wave four concept in Elliott Wave analysis [1][3] - There is a possibility of filling the gap from the earnings report in July 2025, which could lead to a market reversal [1][3] - **Support and Resistance Levels** - The first support zone is identified around $80, which is a significant level from October 2021 [2][3] - The invalidation level is noted at $68.36, indicating a critical threshold for potential price movements [2][3] - **Long-term Outlook** - The overall structure remains bullish on higher time frames, suggesting that rebound opportunities are still viable [2][3]

Market Competition - MercadoLibre faces tough competition in Brazil from Amazon, Shein, and Shopee [1] - The competition is putting pressure on MercadoLibre's margins in Latin America's largest online market [1] Regional Focus - The report focuses on the online market in Brazil [1]

Market Overview - The US stock market showed mixed signals on November 25, with the Dow Jones up 0.6%, the S&P 500 flat, and the Nasdaq down 0.3%, indicating ongoing concerns about high valuations in AI and tech stocks [1] - Despite a tech rally on Monday, all three indexes remain on track for monthly losses as investors weigh retail sales, inflation data, and the Federal Reserve's next move [1] Technology Sector - Tech shares led market volatility, with Nvidia shares falling over 4% after reports that Meta plans to invest billions in AI chips from Google, signaling increased competition [2][7] - Other tech giants like Alphabet and Alibaba performed well, supported by strong earnings and AI-driven growth momentum, which reassured investors about their resilience amid rising competition [8] Federal Reserve and Rate Cut Expectations - The market is pricing in over an 80% chance of a Fed rate cut at the December meeting, with Fed Governor Chris Waller advocating for easing to support economic growth [3][10] - A potential rate cut is viewed as beneficial for growth stocks, particularly in technology and consumer discretionary sectors, although uncertainty remains regarding the timing and scope of such a move [12] Retail Sales and Consumer Spending - Retail sales data presents a mixed picture, with September sales rising only 0.2%, below forecasts, while October data showed a rebound with sales excluding autos and gas up 0.6% month-over-month and 5% year-over-year, driven by online and food store sales [4][14] - The Producer Price Index (PPI) increased by 0.3%, raising the annual rate to 2.7%, indicating moderate but persistent price pressures [15] Earnings Season - The earnings season is gaining attention, with Kohl's and Best Buy reporting this week, providing insights into consumer demand ahead of the holiday season [5][21] - Investors are closely monitoring these results to gauge spending trends and assess whether consumers are holding back [5] Energy Market - Energy markets experienced significant declines, with Brent crude falling 1.9% to below $62 per barrel and WTI dropping 2% to below $58, both down nearly 5% over the past five sessions [17][22] - Natural gas prices also fell, with futures down 5.9% to trade under $4.40 per MMBtu, influenced by peace-talk progress and strong US production [19]