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The Zacks Stocks in the News Blog Highlights: West Elm, Amazon, Nike, Apple
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For Immediate Release
Chicago, IL—September 30, 2016—Zacks.com looks back on the hottest stories of the week featured in the Stocks in the News blog, where analysts and writers discuss the latest news and events impacting stocks, the financial markets, and the greater investing world.
Here are highlights from this week’s Stocks in the News blog:
On Monday, modern home-furnishing chain West Elm, owned by Williams-Sonoma Inc. (WSM - Free Report) , announced it is launching a boutique hotel chain, dubbed West Elm Hotels. While this is a business departure for the company, it’s a strategic move that West Elm hopes will boost currently stagnant growth.
The furnishings in the hotels will be for sale, and a hotel is an innovative way to showcase West Elm’s wide range of home products.
Shares of Amazon.com Inc. (AMZN - Free Report) gained as much as 1.6% in morning trading Tuesday after analysts from JPMorgan Chase (JPM) raised their price target for the stock to $1,000 from $925.
JPMorgan is not the first to call for Amazon to hit quadruple digits; the stock rose to all-time highs in May shortly after analysts at Bernstein upped their target to $1,000 from just $770. The adjustment from JPMorgan also comes just one day after Cowen analyst John Blackledge highlighted Prime’s remaining room to grow.
Nike (NKE - Free Report) Posts Q1 Earnings and Revenue Beats, Cites “Incredible Summer of Sport”
Nike Inc. (NKE - Free Report) released its fiscal 2017 first quarter financial results on Tuesday. Earnings per share of 73 cents beat the Zacks Consensus Estimate of 56 cents per share, while revenues came in at $9.1 billion, also surpassing the Zacks Consensus Estimate of $8.85 billion.
Revenues for the NIKE Brand were $8.5 billion, up 10% on a currency-neutral basis driven by double-digit growth in Greater China, Western Europe, Emerging Markets, Central & Eastern Europe and Japan, including strong growth in Sportswear, Running and the Jordan Brand.
Apple Inc. (AAPL - Free Report) revealed on Wednesday that it is taking over London’s Battersea Power Station, a decommissioned power plant close to the River Thames, for its brand new headquarters in the city. The tech giant will be moving to its new HQ in 2021.
The company’s main European headquarters, however, will remain in Cork, Ireland; 6,000 employees work at that location, but the new Battersea site will be Apple’s largest outside of its Cupertino, California HQ location in the U.S.
Learn More About Zacks’ Investment Ideas
You are welcome to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buy" stocks free of charge. There is no better place to start your own stock search. Plus, you can access the full list of must-avoid Zacks Rank #5 "Strong Sells" and other private research. See the stocks free >>
Interested in personal finance? Zacks’ “Money Sense” e-mail newsletter is designed to bring you strategies and valuable information that can help you take control of your personal finances, as well as how to get the most out of your money. It covers a range of topics, from retirement planning to money management solutions. Subscribe to the free newsletter today.
About Zacks
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978. The later formation of the Zacks Rank, a proprietary stock picking system; continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros.
Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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The Zacks Stocks in the News Blog Highlights: West Elm, Amazon, Nike, Apple
For Immediate Release
Chicago, IL—September 30, 2016—Zacks.com looks back on the hottest stories of the week featured in the Stocks in the News blog, where analysts and writers discuss the latest news and events impacting stocks, the financial markets, and the greater investing world.
Here are highlights from this week’s Stocks in the News blog:
To Boost Growth, West Elm is Launching a Hotel Chain
On Monday, modern home-furnishing chain West Elm, owned by Williams-Sonoma Inc. (WSM - Free Report) , announced it is launching a boutique hotel chain, dubbed West Elm Hotels. While this is a business departure for the company, it’s a strategic move that West Elm hopes will boost currently stagnant growth.
The furnishings in the hotels will be for sale, and a hotel is an innovative way to showcase West Elm’s wide range of home products.
Amazon (AMZN - Free Report) Stock Rising on $1000 Price Target
Shares of Amazon.com Inc. (AMZN - Free Report) gained as much as 1.6% in morning trading Tuesday after analysts from JPMorgan Chase (JPM) raised their price target for the stock to $1,000 from $925.
JPMorgan is not the first to call for Amazon to hit quadruple digits; the stock rose to all-time highs in May shortly after analysts at Bernstein upped their target to $1,000 from just $770. The adjustment from JPMorgan also comes just one day after Cowen analyst John Blackledge highlighted Prime’s remaining room to grow.
Nike (NKE - Free Report) Posts Q1 Earnings and Revenue Beats, Cites “Incredible Summer of Sport”
Nike Inc. (NKE - Free Report) released its fiscal 2017 first quarter financial results on Tuesday. Earnings per share of 73 cents beat the Zacks Consensus Estimate of 56 cents per share, while revenues came in at $9.1 billion, also surpassing the Zacks Consensus Estimate of $8.85 billion.
Revenues for the NIKE Brand were $8.5 billion, up 10% on a currency-neutral basis driven by double-digit growth in Greater China, Western Europe, Emerging Markets, Central & Eastern Europe and Japan, including strong growth in Sportswear, Running and the Jordan Brand.
Apple’s New London Headquarters Heading to Battersea Power Station
Apple Inc. (AAPL - Free Report) revealed on Wednesday that it is taking over London’s Battersea Power Station, a decommissioned power plant close to the River Thames, for its brand new headquarters in the city. The tech giant will be moving to its new HQ in 2021.
The company’s main European headquarters, however, will remain in Cork, Ireland; 6,000 employees work at that location, but the new Battersea site will be Apple’s largest outside of its Cupertino, California HQ location in the U.S.
Learn More About Zacks’ Investment Ideas
You are welcome to download the full, up-to-the-minute list of 220 Zacks Rank #1 "Strong Buy" stocks free of charge. There is no better place to start your own stock search. Plus, you can access the full list of must-avoid Zacks Rank #5 "Strong Sells" and other private research. See the stocks free >>
Interested in personal finance? Zacks’ “Money Sense” e-mail newsletter is designed to bring you strategies and valuable information that can help you take control of your personal finances, as well as how to get the most out of your money. It covers a range of topics, from retirement planning to money management solutions. Subscribe to the free newsletter today.
About Zacks
Zacks.com is a property of Zacks Investment Research, Inc., which was formed in 1978. The later formation of the Zacks Rank, a proprietary stock picking system; continues to outperform the market by nearly a 3 to 1 margin. The best way to unlock the profitable stock recommendations and market insights of Zacks Investment Research is through our free daily email newsletter; Profit from the Pros. In short, it's your steady flow of Profitable ideas GUARANTEED to be worth your time! Register for your free subscription to Profit from the Pros.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.