Thursday, 28 Mar 2024

Etsy’s stock jumps after Wedbush analyst turns bullish, bumps up price target

‘Miss Christmas’ teaching assistant ‘sent nude pics to 15-year-old boy’

  • Teacher accused of having sex with boy, 14, confronted by own children

  • Teacher, 23, 'had sex' with 15-year-old boy and 'sent naked pics and videos'
  • Crime

US retail sales rise more than expected in August

Retailers must work their way through China tariffs: Former Toys ‘R’ Us CEO

Former Toys ‘R’ Us CEO Gerald Storch discusses the need for strong management as the trade war puts strain on retailers.

U.S. retail sales rose more than expected in August boosted by purchases of new autos and building supplies, suggesting the economy remained strong, even as fears over an impending slowdown continued to mount.

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Retail sales climbed by 0.4 percent in August, well above analyst expectations of 0.2 percent, on the heels of blowout data in July, when households boosted purchases of cars and clothing.

The U.S. consumer has remained relatively resilient in the face of a darkening economic outlook as uncertainties from the U.S.-China trade war continue to rattle markets.

The report is the last big economic report before the Federal Reserve's two-day meeting next week, during which policymakers are widely expected to lower interest rates.

This is a developing story. Please check back for updates.

Donald Trump Ditches Sound Energy Policy For His Own Vanity: ‘I Always Look Orange’

President Donald Trump on Thursday defended his administration’s recent reversal of requirements for more energy-efficient lightbulbs.

Speaking at an event in Baltimore, Trump said the “number one” reason for his rollback of the rules (that were scheduled to come into force on Jan. 1, 2020) was because “the light’s no good” under more efficient bulbs.

“I always look orange,” he complained. “And so do you, the light is the worst.”

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It echoed comments that Trump made at a rally in Fayetteville, North Carolina, on Monday.

“I’m not a vain person,” he told his supporters. “But I look better under an incandescent light than these crazy lights that are beaming down on me.”

Check out that clip here:

The Energy Department said the lightbulb rollback will return “choice to consumers.” Critics claim it will harm the environment and force households to spend more on energy.

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London Stock Exchange rejects Hong Kong takeover offer

Dick Grasso on Hong Kong’s $36.6 billion bid for London Stock Exchange

Former NYSE CEO Dick Grasso on the Hong Kong Stock Exchange making an offer for the London Stock Exchange.

The London Stock Exchange said Friday it has rejected a near $37 billion takeover offer from Hong Kong Exchange.

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"The board unanimously rejects the conditional proposal and, given its fundamental flaws, sees no merit in further engagement," the LSE said in a statement, according to Reuters.

Earlier this week, the Hong Kong Stock Exchange said it started talks to buy the LSE. That offer comes weeks after the London exchange announced a plan to merge with data company Refinitiv in a $27 billion deal.

This is a developing story. Please check back for updates.

Italian tax police place under home arrests Atlantia's units officials

Italian tax police have placed under home arrest three officials of infrastructure group Atlantia's unitsin an inquiry into falsified reports over motorway viaducts' safety checks.

Both Atlantia's motorway unit Autostrade per l'Italia and its maintenance unit SPEA Engineering are involved in the probe, stemming from a separate investigation into the collapse of a motorway bridge in Genoa, which killed 43 people last year.

Etsy’s stock jumps after Wedbush analyst turns bullish, bumps up price target

Shares of Etsy Inc. ETSY, +4.20% jumped 4.1% in premarket trading Friday, after Wedbush analyst Ygal Arounian turned bullish on the online crafts marketplace, citing a "critical mass" of new initiatives that is expected to drive growth and expand margins. Arounian raised the rating to outperform from neutral, and bumped the price target to $66 from $64, amid optimism over the outlook for Etsy Ads and free-shipping offering. "We particularly like the timing with both Etsy Ads and free shipping launching into the holiday season supported by Etsy’s brand marketing push, where it is seeing early signs of strong [return on investment] on TV and social," Arounian wrote in a note to clients. The stock has tumbled 21.7% over the past three months through Thursday, while the Amplify Online Retail ETF IBUY, +1.34% has gained 5.4% and the S&P 500 SPX, +0.29% has tacked on 4.1%.

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