![]() ![]() Nike is set to report results after the bell on Thursday, June 29. "Recent & Europe sportswear channel checks make it clear that demand for mass sportswear has potentially slowed, leaving a sizable inventory glut across the industry that is currently being promoted away.a potential headwind that could pressure NKE revenue & margin," Morgan Stanley equity analyst Alex Straton said in a note to clients on Tuesday. Nike ( NKE) stock slumped more than 3% on Tuesday as Wall Street analysts trimmed expectations ahead of the company's earnings release next week. Nike slips as analysts warn on inventory levels ahead of earnings This comes as investors have pushed the company to hike prices across its various plans. ![]() At that time, it announced a business restructuring that led to the departure of the chief content officer and advertising business officer, Dawn Ostroff, who led the bulk of Spotify's splashy podcast deals.Īs Spotify looks to further improve margins, Bloomberg reported the audio giant plans to roll out a more expensive, premium subscription tier that will feature improved audio capabilities and more access to audiobooks. The company cut 6% of its workforce, or about 600 employees, earlier this year. So far, it seems to be fulfilling that promise by pivoting away from its growth-at-all-costs strategy.Įarlier this month, the company announced it'd be eliminating 200 jobs, or 2% of its workforce, within its podcast division, citing "a strategic realignment." Part of that realignment included merging its previously purchased Parcast and Gimlet studios to join the broader Spotify Studios in producing original content. Spotify, which saw shares plummet 70% in 2022, previously told Yahoo Finance it will look to improve its profitability rates beginning in 2023 on a gross margin and operating income basis. It's the latest move in the company's "strategic realignment" of its podcast division after the audio giant spent $1 billion pushing into the podcast market over the past four years. Spotify ( SPOT) announced on Tuesday it has signed a weekly podcast deal with comedian Trevor Noah, days after the company said it was parting ways with Prince Harry and Meghan Markle. Spotify's 'strategic realignment' of podcast division takes shape "The housing market has proven even more resilient than we had expected, driven by a supportive supply backdrop as well as a material decline in mortgage rates that transpired between November 2022 and February 2023," he wrote.Īs a result, Viswanathan now forecasts home prices will fall 2.2% for 2023, versus a previous estimated decline of 6.1%, before increasing 2.9% in 2024, up from an estimated 1.0% gain previously. Goldman Sachs Macro Strategist Vinay Viswanathan also updated his forecast earlier this month. These ingredients combine into a recipe that we think leaves the steep declines in home sales and housing starts behind us, but also prevents any sharp increases over the forecast horizon." The prospect of increased regulation on the banking system promises to keep mortgage credit standards constrained. While supply remains close to its tightest levels of the past 40 years, it is no longer setting a new historical low every month. ![]() He went on to explain the rationale: "Looking ahead, affordability remains challenged, but it is no longer deteriorating. ![]() We think there is more room to the upside in our home price forecasts than the downside," James Egan, strategist at Morgan Stanley, his housing research team, wrote in a note to clients Tuesday. "While we continue to believe that year-over-year home price growth will turn negative next month, we expect the time below zero will be short. Previously, strategists there had expected a 4% decline. Morgan Stanley is now forecasting that prices will end 2023 flat compared to the previous year. Home buyers, take note: If you're hoping for a big drop in prices, you may not want to hold your breath. Morgan Stanley: Home prices set to hold steady in 2023 ![]()
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