Sprouts Still Looks Positive as Management Confident in Double-Digit Growth

Sprouts Still Looks Positive as Management Confident in Double-Digit Growth

Oppenheimer consumer analysts Rupesh Parikh said he’s still positive on Sprouts Farmers Market (SFM) after meeting with Chief Financial Officer Brad Lukow and vice president of investor relations Susannah Livingston this week. Management is still confident in the possibilities for double-digit earnings growth, Parikh said. Instacart seems to be off to a “very strong” start, the environment is still stable and management comments suggested they haven’t yet seen an impact […]

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Wix.com Slips 1% on Plans for $350 Million Private Placement of Five-Year Convertible Senior Notes

Wix.com Slips 1% on Plans for $350 Million Private Placement of Five-Year Convertible Senior Notes

Wix.com Ltd. (WIX) was falling late Wednesday after announcing plans for a $350 million private placement of convertible senior notes due July 2023 to qualified institutional buyers. The web-development company also expects to issue a 13-day option to underwriters to buy up to $52.5 million more of the notes to cover potential over-allotments. The notes will be convertible at the investor’s option at any time prior to two days before […]

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Barnes & Noble Education Reports Surprise Fiscal Q4 Profit

Barnes & Noble Education Reports Surprise Fiscal Q4 Profit

Barnes & Noble Education (BNED), a provider of educational products and services solutions for higher education and K-12, reported an unexpected profit in its fiscal Q4 as sales improved. EPS totaled $0.36 for the period ended April 28, compared to breakeven per share, in the year-ago period. Analysts had expected a net loss of $0.02 per share, according to Capital IQ data, but it’s unclear if this is comparable. Fiscal […]

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Bond Prices Give Back Recent Gains with Rate Hikes Ahead

Bond Prices Give Back Recent Gains with Rate Hikes Ahead

US Treasury prices on Wednesday gave up Tuesday’s gains, working their way lower throughout the session with the longer end leading as trade tensions ebbed, aiding in a global stock advance. Federal Reserve Chair Jerome Powell spoke early, offering an upbeat assessment on the economy and that the case for the Fed to continue to gradually increase rates was strong. The 30-year yield settled near 3.063% versus a late 3.0664% […]

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Nasdaq Powers to Record High on Tech, Media Gains

Nasdaq Powers to Record High on Tech, Media Gains

Tech stocks and media companies powered the Nasdaq Composite to a record high on Wednesday, while the Dow Jones Industrial Average posted a seventh consecutive loss, the longest stretch in 15 months as tariff jitters continued to weigh. The Nasdaq climbed out of the gate, with gains driven by 21st Century Fox (FOX, FOXA) which rose 7.3% and 7.5% after Walt Disney (DIS) upped its bid for the company following […]

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Fin24.com | KPMG expects 400 people to leave as auditor reshapes business

Fin24.com | KPMG expects 400 people to leave as auditor reshapes business

KPMG SA expects some 400 people to leave the firm as it shuts several regional offices. The beleaguered audit firm announced on Monday that it was “reshaping” its business and “strengthen[ing] leadership capacity”. “These changes follow a strategic review of the firm’s activities and take into account recent client losses and current levels of demand for certain services. They are the latest in a series of initiatives announced by the […]

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Fin24.com | SARS cuts deadline for tax returns

Fin24.com | SARS cuts deadline for tax returns

The South African Revenue Service (SARS) said on Monday that the tax filing season, which kicks off on July 1, has been shortened by three weeks, in a bid to improve efficiency. “A shorter filing season allows additional time for SARS, taxpayers and the tax fraternity to deal with returns verifications before most taxpayers go on the December holiday break,” said Acting Commissioner Mark Kingon. The filing season, themed ‘No […]

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Fin24.com | Bayer to ditch Monsanto name after mega-merger

Fin24.com | Bayer to ditch Monsanto name after mega-merger

German chemicals and pharmaceuticals giant Bayer will discard the name Monsanto when it takes over the controversial US seeds and pesticides producer this week, the group said Monday. “Bayer will remain the name of the firm. Monsanto will be discontinued as the name of the business,” the Leverkusen-based group said in a statement, adding that it expects to close the $63bn deal on Thursday. Bosses plan to name the merged […]

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Fin24.com | Richemont buys watch firm, sells luxury leather goods company

Fin24.com | Richemont buys watch firm, sells luxury leather goods company

Luxury goods holding company Richemont SA announced on Monday it would be adding UK retailer Watchfinder to its portfolio, while selling its French luxury leather goods subsidiary Lancel. With the acquisition of Watchfinder, Richemont expands its online business, which currently has a stake in Dufry and fashion retailer YOOX NET-A-PORTER. Watchfinder trades luxury second-hand watches. A private transaction had been concluded to acquire 100% of Watchfinder‘s shares, Richemont said. It […]

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Fin24.com | SA no longer has agreement with Russians on nuclear, says Radebe

Fin24.com | SA no longer has agreement with Russians on nuclear, says Radebe

Cape Town – Minister of Energy Jeff Radebe told eNCA on Sunday evening that South Africa no longer had an agreement with the Russians to procure for the development of nuclear energy for the country. Speaking to journalist and political analyst Karima Brown on the news network’s show The Fix, Radebe said he was of the view that government did not appeal the court ruling in 2017 which invalidated the […]

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Fin24.com | SAA CEO: It‘s time to make some hard decisions

Fin24.com | SAA CEO: It‘s time to make some hard decisions

Sydney – South African Airways (SAA) has reached the point where some hard decisions have to be made, CEO Vuyani Jarana told Fin24 on Monday. “SAA is now getting to the phase where it is starting to tackle the tough issues,” he told Fin24 at the 74th annual general meeting of the International Air Transport Association (IATA) in Sydney. These include issues like procurement spend and getting costs down. It […]

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Fin24.com | Pig farmers ‘pray‘ as Tiger Brands shuts plants after deaths

Fin24.com | Pig farmers ‘pray‘ as Tiger Brands shuts plants after deaths

The People First Piggery in the gritty South African mining city of Rustenburg used to slaughter 150 pigs each month. It’s now down to zero. Three months after South Africa linked products from a factory owned by Tiger Brands, the country’s biggest food producer, to the world’s deadliest known listeriosis outbreak, pressure is building on pig farmers. The industry has cut at least 2 000 jobs, pork prices dropped to […]

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Fin24.com | Novus CEO resigns

Fin24.com | Novus CEO resigns

Novus CEO Keith Vroon has resigned with effect from 15 June 2018, the printing and packaging company said on Monday. In a note to shareholders, Novus Holdings [] said that Vroon has however agreed to stay until the end of June to ensure a smooth transition. The company said Neil Birch, the current executive chairperson of the Board, will step in as CEO and chairperson with the current lead independent […]

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Fin24.com | Critical questions to ask when choosing vehicle insurance

Fin24.com | Critical questions to ask when choosing vehicle insurance

There are just over 11 million registered vehicles in South Africa – excluding caravans and trailers. Statistics show that the majority of these vehicles – around 60 to 70% – are uninsured. The Automobile Association says this means that to keep you on the road, insurance is not a luxury, but a necessity. Statistics from the Road Traffic Management Corporation (RTMC) indicate that there are more than 800 000 crashes in […]

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Fin24.com | Africa‘s airport tender processes ‘lack transparency‘

Fin24.com | Africa‘s airport tender processes ‘lack transparency‘

Sydney – African airport tender processes tend to lack transparency – and it‘s a key challenge for the continent‘s aviation industry. This is according to Hemant Mistry, director of airports at the International Air Transport Association (IATA), who spoke to Fin24 on Sunday. “The consultation process relating to airport processes in Africa also tends to have a lack of transparency,” he said at the 74th IATA annual general meeting in Sydney. […]

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Fin24.com | OPINION: Entrepreneurs with disabilities want training not pity

Fin24.com | OPINION: Entrepreneurs with disabilities want training not pity

In a world that frequently sees past people whose bodies don‘t look or work like theirs, entrepreneurship offers persons with disabilities a liberating option.  In particular because unemployment runs at a frightening 80%, running one’s own business provides vital life supporting employment, as well as the dignity and affirmation that comes with transcending the label of “disability”.  In the last three years, the SAB Foundation Tholoana Enterprise Programme has provided […]

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Fin24.com | Unlocking economic, social benefits of aviation critical for Africa

Fin24.com | Unlocking economic, social benefits of aviation critical for Africa

Sydney – Unlocking the economic and social benefits of aviation is a critical element of Africa’s development and the continent will not reach its potential without continuous improvement in aviation safety, having an effective regulatory framework and the right infrastructure. These are some of the reasons why the International Air Transport Association (Iata) and the African Airline Association (AFRAA) signed a memorandum of understanding (MOU) at the 74th Iata annual […]

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Fin24.com | Transport subsidies up for discussion – Nzimande

Fin24.com | Transport subsidies up for discussion – Nzimande

The time has come to take stock of the entire transport subsidy regime – looking at every cent spent by government to subsidise all forms of transport in South Africa, said Transport Minister Blade Nzimande.  Nzimande spoke to Fin24 on the sidelines of the International Transport Forum Annual Summit in Leipzig, an international gathering of politicians, CEOs, leading researchers and heads of international organisations.  The minister said he met with […]

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Fin24.com | Spotify ends misconduct policy after music-industry revolt

Fin24.com | Spotify ends misconduct policy after music-industry revolt

Los Angeles – Spotify Technology rescinded a short-lived policy that penalised artists for misconduct, bowing to pressure from irate musicians and record labels. The owner of the world’s largest paid music streaming service will no longer police artist behavior, but it will still remove hate speech, according to a blog post Friday. Spotify enacted the guidelines last month, a move that included scrubbing R&B singer R. Kelly and rapper XXXTentacion […]

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Fin24.com | Weak economic growth expected for first quarter – economist

Fin24.com | Weak economic growth expected for first quarter – economist

Cape Town – A contraction in GDP for the first quarter of 2018 is expected, but it won‘t completely derail growth forecasts for 2018, according to an economist. Statistics South Africa will release GDP results on Tuesday. In a market report FNB Chief Economist Mamello Matikinca said that the contraction is usually expected in consumption-driven economies, especially off the back of a high base set in the previous year. GDP […]

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