Nike Earnings on Tap, Mega-Cap Tech's Slide, and the U.S. Latino Economy 9/28/23
Sep 28, 2023
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Preview of Nike's earnings results and the decline of their stock. Discussion on the challenges faced by mega-cap tech stocks. Investment professional explains investments in the growing US Latino economy.
Nike reports earnings amid stock decline, mega-cap tech under pressure, US Latino economy growing.
Deep dives
Berkshire Hathaway unloads HP shares in recent days
Berkshire Hathaway has sold about $118 million worth of HP shares since Monday, reducing its stake in the company to just under 11%. Shares of HP are down about 1%.
SEC reportedly finalizing settlement with Wall Street firms over record keeping
Around two dozen Wall Street firms are reportedly finalizing a settlement with the SEC over improper record keeping. The settlement is expected to be announced soon.
Birkenstock reportedly pushing ahead with US IPO
Despite the looming government shutdown, Birkenstock is reportedly continuing with its plans for a US IPO. The company believes it can obtain final SEC sign-off even during a shutdown.
Uber hires former Analog Devices executive as CFO
Uber has hired Prashant Mahindra Raha, a former Analog Devices executive, as its new CFO. Mahindra Raha will officially start the job in November.
Peloton surges on new partnership with Lululemon
Peloton has announced a new partnership with Lululemon to promote each other's products. Shares of Peloton are up about 15% in the pre-market.
Government shutdown, iPhone overheating, Peloton and Lulu Lemon partnership, undervalued company in Big Cap Tech, Delta CEO apology, rise of Brave, Latino economy
Nike reports earnings today amid a double-digit decline in the stock so far this year. Oppenheimer's Brian Nagel previews the results. Plus, mega-cap tech stocks are also under pressure due to concerns about rising rates and regulatory scrutiny. Wedbush's Dan Ives discusses the outlook for Q4. And, a new report shows the U.S. Latino economy is continuing to grow. Palladium Equity Partners' Marcos Rodriguez explains why he's investing in companies within that economy.
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