Citi cuts Tractor Supply, Floor & Decor to neutral on traffic weakness while O’Reilly Automotive gets an upgrade
Citi analyst Steven Zaccone on Thursday cut Tractor Supply Co. and Floor & Decor Holdings to neutral from buy after the bank’s store-traffic monitor signaled lower-than-expected business at the retailers. Despite the pair of downgrades, Zaccone found reason to cheer O’Reilly Automotive Inc. ORLY, which drew an upgrade to buy from neutral because “we think […]
Citi cuts Tractor Supply, Floor & Decor to neutral on traffic weakness while O’Reilly Automotive gets an upgrade
Citi analyst Steven Zaccone on Thursday cut Tractor Supply Co. and Floor & Decor Holdings to neutral from buy after the bank’s store-traffic monitor signaled lower-than-expected business at the retailers. Despite the pair of downgrades, Zaccone found reason to cheer O’Reilly Automotive Inc. ORLY, +0.41%, which drew an upgrade to buy from neutral because “we […]
Dungeons & Dragons grows into whiskey, furniture and candles
Inside the storefront of Cantrip Candles in Hollywood, CA. Sarah Whitten | CNBC It’s not every day that a spilled beer can start a company. But that’s exactly how Christoff Visscher got the idea for Cantrip Candles. An avid Dungeons & Dragons fan, Visscher was hosting a game when a beer got knocked over during […]
Treasury yields stabilize as traders eye Friday’s jobs report
Treasury yields were mildly mixed as the recent bond market volatility abated ahead of crucial jobs data at the end of the week. What’s happening The yield on the 2-year Treasury BX:TMUBMUSD02Y fell by 2.9 basis points to 5.042%. Yields move in the opposite direction to prices. The yield on the 10-year Treasury BX:TMUBMUSD10Y was […]
Disney discounting child tickets at domestic parks
Visitors can avoid lines at Disney World if they buy into the system. Joseph Prezioso | Anadolu Agency | Getty Images It’s about to be cheaper for families to visit Disney’s domestic theme parks. The Walt Disney Company on Wednesday announced new, limited time discounts on children’s tickets at Disneyland and Disney World. Starting Oct. […]
Social Security Administration to review overpayments, may claw back payments
The Social Security Administration said Wednesday it would review its overpayment procedures and policies, and may claw back any overpayments found. During the 2022 fiscal year, the agency recovered $4.7 billion of overpayments, according to a report by the SSA’s Office of the Inspector General. While payment accuracy rates are high, overpayments do happen given […]
Popeyes overtakes KFC as No. 2 chicken chain, Chick-fil-A stays on top
A Popeyes restaurant is seen in Washington, D.C. Eric Baradat | AFP | Getty Images Popeyes has overtaken KFC as the No. 2 chicken chain in the U.S., a decade after Chick-fil-A first unseated KFC from the top spot. Chicken chains’ battle for stomachs — and dollars — has become more aggressive in recent years. […]
Clorox says sales and profit took a big hit from cyberattack
Clorox on Wednesday warned that its sales and profit took a big hit during the quarter ending Sept. 30, largely due to the after effects of a cyberattack that significantly affected operations. The bleach and cleaning products maker said it expects net sales to decrease 23% to 28%. Clorox also estimates its gross margin for […]
Rivian shares sink after preliminary sales estimates, convertible-notes plan
Shares of Rivian Automotive Inc. slid in the extended session Wednesday after the EV maker issued preliminary quarterly sales estimates that were on par with Wall Street’s forecasts and announced plans to offer $1.5 billion worth of convertible notes. Rivian RIVN, +9.22%, in a filing, gave a preliminary third-quarter sales estimate of between $1.29 billion […]
Tilray Brands’ revenue jumps, losses narrow
Cannabis producer Tilray Brands on Wednesday reported a jump in revenue as it diversifies its portfolio and moves deeper into the beer industry. The company reported $177 million in net revenue, up 15% year over year, for its fiscal first quarter. Its cannabis division brought in $70 million in net revenue, reflecting a 20% spike year […]
