Shares of Rivian and different EV start-ups tank amid inventory sell-off

Rivian electric trucks are parked near the Nasdaq MarketSite building in Times Square on November 10, 2021 in New York City.

Michael M Santiago | Getty Images

shares of Rivian Automotive and other electric vehicle startups rebounded from steep intraday losses on Monday after hitting 52-week or record lows amid a broader market sell-off earlier in the day.

Rivian, Lordstown engines, Faraday future, NEVER, canoe, Nikola Corp. and Electrical solutions for the last mile all down 10% to 18% by 1pm before those losses were erased or narrowed in afternoon trade as broader markets rallied.

Shares in Nikola, Lordstown Motors, Canoo and ELMS all ended in the green, up between 1% and 5.5%. Shares in Rivian closed down about 1%, while shares in Chinese automaker Nio fell 9.1% and Faraday Future pared losses to close 4.7%.

Volatility among pre- and early-sales EV companies followed fluctuations in the broader market as investors decided to take advantage of prices after a sharp sell-off in morning trade.

The Nasdaq Composite Index turned positive after falling as much as 4.9% at the start of the session. The Dow Jones Industrial Average rose 100 points after falling more than 1,000 points in one fell swoop. The S&P 500 traded in the green after briefly falling into correction territory early in the session, more than 10% below its record close on Jan. 3.

Stocks of established automakers such as Tesla, General Motors and Ford engine also reduced losses to close less than 2%.

Shares in Rivian, one of the most-watched EV startups, fell below $60 a share on Monday for the first time since the company’s blockbuster IPO in November. The stock is down 38% since the company went public.

Here’s a look at several EV startups, as well as Tesla and legacy automakers GM and Ford, both of which have announced significant investments in electric vehicles.

— CNBC’s Hannah Miao and Yun Li contributed to this report.

Jim Cramer says he’d purchase Disney after shares slid on Netflix information

CNBC’s Jim Cramer said on Friday he sees the sell-off in Disney as a buying opportunity for investors.

Shares of the media and entertainment giant fell 6.94% to hit a fresh 52-week low during the session. However, the “Bad Money” Host said he won’t shy away from the stock because its sharp decline seemed linked to it Netflix‘s prognosis of Subscriber growth slowdown.

Netflix’s outlook — offered Thursday night when the company reported its earnings — spooked investors, and the company’s shares plunged 21.8% on Friday.

“I want to own the stocks of longtime, great Americans who have fallen into a guilt fiasco, and that’s exactly what happened to Disney stock today,” Cramer said, while noting that he was prevented from adding to his shares Charitable Trust on Friday changed Disney’s position after mentioning the stock on morning TV. Cramer’s ethics policy is that he waits 72 hours before executing a trade in any stock that he discusses on CNBC’s television programs.

Cramer’s trust Bought back from Disney in September, about three months after leaving his position entirely for the first time in 16 years. Confidence was added to the stock end of November and then back in December.

Cramer admitted on Friday that he was “too early” at Disney, alluding to the fact that the stock is trading lower than when the trust made its purchases.

“But it’s time to mix speculative stories with investment-grade stories. A lot of the stocks wiped out here belong to companies that don’t have much in the way of earnings, companies that trade mostly on hype or hope,” Cramer said.

He said he sees a number of speculative assets — including cryptocurrencies and stocks that went public through a reverse merger with a special purpose vehicle — that deserve to fight now as Wall Street braces for likely Federal Reserve rate hikes .

“But you can’t just extrapolate the weakness of a company that’s done very well, Netflix, with a whole bunch of other big brand name companies that make amazing products and make good revenue, like Disney,” Cramer said.

“I’m not saying Netflix isn’t worth owning. At a certain price, it sure will,” he added. “What I’m saying is that there are a lot of quality companies that are in distress because of Netflix today, and these were the best ones to buy.”

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Invoice Ford is doubling down on Ford shares and amassing extra management of the corporate

New Ford CEO Jim Farley (left) and Ford Chairman Bill Ford Jr. pose with a 2021 F-150 during an event September 17, 2020 at the Michigan plant of the company that makes the pickup truck.

Michael Wayland | CNBC

DETROIT – Ford engine Chairman Bill Ford has slowly amassed more shares and control of the automaker founded by his great-grandfather in 1903.

not how Elon Musk and other CEOs who recently cashed out a portion of their company stock as prices soared, Ford has doubled its namesake company over the past decade.

The 64-year-old is the company’s largest single shareholder with 2.3 million shares of Ford common stock. More importantly, he’s also the largest holder of the automaker’s Class B stock, which has super voting rights that have allowed the Ford family to retain control of the company. While the Class B shares make up 2% of Ford’s outstanding shares, they control 40% of the voting power.

Bill Ford directly owns 16.1 million, or 23%, of Class B shares available only to family members. That’s four times the roughly 4 million, or 5.7%, he owned in 2012, according to FactSet.

“I think it’s really important that the family legacy continues. It gives us a face and maybe a humanity that many other companies don’t have.”

from Satya Nadella at the Microsoft to jeff bezos and musk, CEOs, founders and other company insiders have cashed in at the fastest pace ever $69 billion in shares in 2021, as looming tax hikes and soaring stock prices encouraged many to take profits.

Ford, whose stake has grown through his work as CEO, said he’s holding on to his shares because he has “tremendous confidence” in the company’s management team, led by CEO Jim Farley, to fulfill Farley’s Ford+ turnaround plan Focus on electric and connected vehicles. Bill Ford received $16 million in total compensation from Ford in 2020, which consisted of a mix of benefits, cash and stock awards.

Ford last month acquired 412,500 additional Class B shares held in a family trust. The move came about a week after he acquired nearly 2 million shares of common stock in the company through the exercise of stock options, some of which had expired.

Instead of collecting the $18 million in proceeds he would have received from exercising the options, as most executives do, Ford paid $20.5 million in cash and taxes on the earnings to acquire the shares to keep.

“I just feel like we’re very well positioned to deliver superior shareholder returns, and for my part, I wanted to be a big part of that,” Ford told CNBC. “I think in many ways we have an opportunity to create the greatest value for shareholders since the Model T has scaled.”

electric vehicles

Unlike his predecessor, Farley has gained investor confidence since taking the helm October 2020. The automaker’s shares are up about 270% since then, taking its market value above $100 billion for the first time Thursday. 2020 was the first year for Ford since 2001 The stock has crossed the $20 mark.

Read more about electric vehicles from CNBC Pro

The stock closed Thursday at $25.02 per share, with the company’s market value at $99.99 billion. Ford is now worth more than its crosstown rival General Motors, which is estimated at around 90 billion dollars.

As part of Farley’s Ford+ plan, the company is heavily focused on electric vehicles, including the Mustang Mach E and all-electric Ford F-150, and connected services to generate recurring revenue. The company expects an 8% adjusted profit margin before interest and taxes in 2023 — earlier than many analysts expected.

“The Mach-E and the Lightning, both of their order banks just blew us away,” said Ford. “We’re on this electrification journey, but it’s more than that. It’s about the connection to the customer, it’s all services that are being developed around electrification.”

family shares

Ford directly owns about 20.3 million shares of stock, including restricted shares, common shares and Class B shares. The holdings, which may exclude some trusts, were worth more than $500 million at Thursday’s close.

There are 71 million class B shares, worth approximately $1.8 billion, held by descendants of company founder Henry Ford. The Ford family’s voting power will diminish once their Class B shares fall below about 60.8 million.

Some have criticized the dual-share system for unfairly allowing the family to remain in control of the automaker. Ford has repeatedly defended the dual-share structure so the automaker could focus more on the long term and not be another “nameless, faceless company.”

“I think it’s really important that the family legacy continues,” he said. “It gives us a face and maybe a humanity that many other companies don’t have.”

The two-tier share structure that has existed since the company’s IPO in 1956 has faced numerous challenges from shareholders. At last year’s AGM, 36.3% of voters supported a system that gave each share an equal vote, slightly above the 35.3% average since 2013.

Ford believes his stock ownership supports his defense of the family’s stock and voting rights. Ford said he had no recollection of selling Ford stock on the open market. This does not include the exercise of options, the transfer of stock to trusts, or the conversion of common stock into Class B stock.

“I’m in for the long haul. This is my life and I love the company,” he said. “I really believe we’re heading for an incredible future.”

– CNBC’s Robert Frank contributed to this report.

Correction: Henry Ford was Bill Ford’s great-grandfather. A previous version’s headline misrepresented the relationship. Ford shares closed at $25.02 on Thursday. A previous version incorrectly specified the day.

CCSD Interim Superintendent shares ideas on COVID, trainer shortages and management model

CHARLESTON, SC (WCBD) – Interim Superintendent Donald Kennedy has been running the Charleston County School District for a week, which is filled with introductory meetings and a new decision for the district.

In a meeting with his cabinet on Thursday, Kennedy said that given the county’s staffing problems, it had been decided to pay replacement teachers more money.

“I don’t have an exact number, but I think it’s $ 25. This includes an increase in the tariff and an incentive for a certain number of working days during the week. The total amount for this implementation is $ 1.6 million, “said Kennedy.

Kennedy’s top priority is keeping students and staff safe from COVID-19 through measures such as masks, updated air filter systems, contact tracing, and vaccination clinics.

“I will continue with the existing protocols and processes,” said Kennedy. “If we had to close schools or classrooms, it’s like last resort.”

The board of trustees of the school district will reassess the current mask mandate on January 10th.

The second priority for Kennedy is to allocate the remaining federal funds that the school district received.

“I want to make sure these new initiatives, funded by the American Rescue Plan dollars, are properly integrated into the programs we have,” said Kennedy.

Kennedy has also introduced himself across the county and has teacher groups on his schedule to speak to.

“I met with three directors this week alone,” said Kennedy.

Kennedy said he had no experience as an educator, but he wanted to work with the county principals.

“We will work with the leadership team and principals to set a number of goals,” said Kennedy. “It will be the goals of this collective body that we would submit to the school board.”

To the process of finding a permanent replacement for the former superintendent Dr. Kennedy had little to say about finding Gerrita Postlewait.

“I don’t know what the search process looks like or whether the board has discussed it. This is the first week for me so I wasn’t thinking that far into the future, ”said Kennedy.

AMC shares hunch as CEO Adam Aron, CFO Sean Goodman promote inventory

An AMC theater is pictured in Times Square in the Manhattan neighborhood of New York City, New York, on June 2, 2021.

Carlo Allegri | Reuters

Shares in AMC entertainment collapsed nearly 7% on Friday after two company executives sold significant portions of their stock.

CEO Adam Aron sold an additional $ 9.65 million in AMC stock as part of his estate planning. a move he warned investors that he would be back in August. He sold 312,500 shares on Tuesday for an average of $ 30.86 apiece, according to a regulatory filing filed Thursday.

This sale comes a month after Aron sold 625,000 shares in the company for approximately $ 25 million. He still holds around 96,000 shares, excluding around 2.9 million shares to be issued in the future based on performance targets.

Separately, AMC’s chief financial officer Sean Goodman sold all of his 18,316 shares for approximately $ 565,000, according to a separate filing with the Securities and Exchange Commission. This excludes approximately 296,000 shares that may be issued as a result of Goodman’s continued business for the company, or approximately 293,000 shares that are tied to performance goals and objectives.

Aron recently announced that the company’s board of directors has approved a new equity policy for the company’s executives that requires them to hold a certain number of AMC shares. According to the new guideline, the CEO must hold his own shares or shares that have been awarded for at least eight years’ salary. The CFO must keep the salary in reserve for six years. Goodman’s untransferred shares meet this requirement.

AMC representatives declined to comment.

“I think that while Adam Aron was clearly expressing his intention to liquidate some of his position in AMC stocks by the end of the year, many investors were surprised by the extent to which he sold stocks between early November and mid-December” said Alicia Reese, an analyst at Wedbush.

“Of course, Sean Goodman has more shares since he sold in November, and all executives will continue to accumulate more shares as part of their compensation packages, but they are walking a fine line by taking advantage of the increased share price, while” private shareholders have committed to hold on at all costs, “she said.

Eric Handler, media and entertainment analyst at MKM Partners, noted that the stock is currently trading 30 times its estimated Adjusted EBITDA for the next year and 22 times its forecast for 2023. AMC’s historic valuation peaked at 9 times the metric, he said.

AMC shares topped $ 72 in June, an all-time high when the company was supported by millions of individual retail investors. In the past few months, however, the share has more than halved. On Friday, the stock closed at $ 27.44, down 6.9%.

Before this surge in new investors, the company’s shares hovered between $ 5 and $ 10, but fell to just $ 1.91 per share in January when it looked like AMC would not avert bankruptcy.

The “meme shares” rally helped the movie theater chain hit hard by the pandemic and laden with debt from previous acquisitions. The rise in inventory allowed Aron to raise enough cash to pay rents and even add more theaters. But even with diversified content like soccer games and concerts and the company’s ability to accept cryptocurrencies for tickets and concessions, analysts don’t expect AMC stock to hold this high level.

“The current price does not appear sustainable on a fundamental basis,” said Handler.[It’s a] very opportunistic way for management to get paid. “

AMC executives and board members had previously has dumped more than $ 70 million in stocks Year, according to a report from Bloomberg. While many of these sales were planned ahead of time by management, it means a massive shift for these executives who sold only a fraction of that amount in previous years.

67-year-old Aron is very transparent with investors and has repeatedly advised them that his stock sales are part of an estate plan to diversify his portfolio. Other AMC executives were less vocal about the reasons for their sales.

These stock sales occur at a time when insider selling has accelerated. A recent study by InsiderScore / Verity found that InsiderScore sold more than $ 69 billion worth of shares that year – a record high. The changes occurred when stock assets were increasing and at a time when Congress discusses significantly higher capital gains tax rates and changes in inheritance tax policy.

Eternals Star Shares Picture of Harry Kinds’ Deleted Scene

Eternal shocked Marvel fans everywhere by the introduction Harry Styles as Eros, the beloved cosmic figure better known to the audience as Starfox. Although the character appears in a mid-credits scene – but alongside Patton Oswalt’s Pip the Troll – he was originally supposed to appear in a different scene in the film. Now fans could check out the scene in question after Eternals star Lia McHugh posted a series of pictures on her Instagram account on Sunday night.

In the first picture, McHugh can be seen alongside Richard Madden and Styles. The trio can wear the robe-like clothing that the entire group wore in the opening scene of the film. Styles, on the other hand, was nowhere to be found in this sequence. You can see the picture for yourself below.

“It’s interesting. Starfox, Eros, I like this character a lot, but he’s very problematic with release for reasons that even the She-Hulk Stuff is investigating which I find interesting,” Eternals producer Nate Moors previously told ComicBook.com about Styles’ casting. “But when we decided to turn to Eros, the idea of ​​a man whose power lies in seduction and emotion control, that’s a pretty specific requirement for a piece of talent. And we talked about gender swapping, because really, Eros doesn’t have to be “a guy but he’s a guy but it could be anything.” It really is who is seductive just by being close to you. And that’s a pretty short list, and Admittedly, Chloé is a huge Harry Styles fan. And at first we were really like it? ‘ But I promise if you ever get the chance to meet Harry Stiles it will be true. “

“‘You just think I love this guy. I love this guy. I don’t know what it is. I love him.’ He’s funny. He’s charming. He’s nice to everyone. He’s kind of Eros, “Moore continued. “And it was an easy conversation. I think Harry Styles is at greater risk in being in this film than we are in casting Harry Styles. Because he has such a specific following and is a musician, and now he’s going to be an actor, but that’s not necessarily his core concern. And taking a flyer on this really random character he also knows is vaguely problematic, I think that was a bigger leap of faith for him. But I think the idea of ​​Eros in the MCU is so much fun. Definitely worth it. “

Eternals is out in theaters now, while Shang-Chi and the Legend of the Ten Rings are streamed on Disney +.

What do you think of Eternals? Let us know what you think either in the comment section or via Hit our author @AdamBarnhardt on Twitter to chat all about MCU!

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Shares of EV start-up Lucid soar on new reservations, 2022 manufacturing

Electric vehicle startup Lucid announced on September 28, 2021 that it had started producing its first cars for customers at its facility in Casa Grande, Arizona.

Clear

Shares in Clear group rose more than 5% during after-hours trading before even pulling back to around after the first quarterly results were released as a publicly traded company.

The electric vehicle startup announced a sharp spike in vehicle reservations and confirmed its production target for next year, while reporting a net loss of $ 524.4 million in the third quarter.

Lucid, which went public in July via a SPAC deal, reported that it lost $ 1.5 billion in the first nine months of the year.

The company announced Monday that it had more than 17,000 reservations for its Air sedan, up from 13,000 in the third quarter. Reservations through September represented a backlog of $ 1.3 billion, the company said.

Lucid also confirmed its production target of 20,000 vehicles for the next year, but said there are still hurdles to reaching those plans.

“We remain confident of reaching 20,000 units in 2022,” said Lucid CEO Peter Rawlinson in a press release. “Given the ongoing challenges for the automotive industry with global disruptions in supply chains and logistics, this goal is not without risk.”

Rawlinson said the automaker is taking steps to ease the hurdles in the supply chain and continues to plan to bring lower-cost versions of Lucid Air to market by 2022.

The automaker’s third-quarter revenue was $ 232,000, mostly from a battery deal with the Formula E electric racing league, Lucid CFO Sherry House told Wall Street analysts on Monday during a call. She said the company will begin collecting vehicle sales revenue and reporting details of the sales in the fourth quarter.

Shares closed at $ 44.88 per share, up 2.2%. The stock price remained below its 52-week high of nearly $ 65 per share in February when it was reported that Lucid was close to a deal with blank check firm Churchill Capital IV Corp. stood to go public.

Read more about electric vehicles from CNBC Pro

Lucid’s shares are up more than 80% since the company’s IPO through a reverse merger with Churchill in July. The largest daily increase of 31% came late last month when the company confirmed customer deliveries the Lucid Air Dream Edition were at the beginning.

“I feel great about our stock price,” House told CNBC during a telephone interview. “The start we had, where it is today, and also the growth path that, frankly, lies ahead of us. I see that we are seen as a technology company with a platform that can be expanded across many vehicle variants “and sustainable technology.”

Rawlinson repeated these remarks: “I think what happens in our stock value reflects our status as a technology company more than an automotive company.”

The fully electric Air sedan was named Car of the Year by MotorTrend on Monday, a coveted award in the automotive industry. It is the first time that a new automotive company’s first product has received the award, the publication said.

In total, Lucid has announced that it will deliver 520 customer-configured ones Lucid Air Dream Editions, followed by the production of cheaper models. Lucid announced to investors in July that according to an investor presentation, 20,000 Lucid Air sedans will be produced in 2022, with sales of more than $ 2.2 billion.

The Dream Edition is a special edition of their flagship sedan for $ 169,000 with an industry-leading range of up to 520 miles, according to the EPA. Prices for an entry-level version of the car, the Lucid Air sedan, start at $ 77,400 before a federal tax credit of up to $ 7,500 for plug-in vehicles.

Lucid is one of a handful of EV startups that went public through deals with SPAC companies since last year. But unlike many of his SPAC colleagues, Lucid actually generates revenue and produces vehicles. Also, unlike others, it has so far avoided any federal investigation into potentially misleading statements made to investors, such as: Nikola, Lordstown Motors and canoe.

Mattress Tub & Past shares soar greater than 80% in after-hours buying and selling

Shoppers exit a Bed Bath & Beyond store in New York.

Michael Nagel | Bloomberg | Getty Images

Bed bath in addition Shares rose more than 70% in extended trading Tuesday after the retailer released a spate of news releases.

News the company announced included the launch of a digital marketplace that will sell third-party goods in addition to working with a grocery chain Kroger. Bed Bath & Beyond also said it The share buyback program was ahead of schedule and resulted in some management changes.

But the sharp post-market surge was likely fueled by what was known as a short squeeze, which forced hedge funds that had bet against the stock to buy back their stocks and reduce their losses.

Bed Bath & Beyond was among the most heavily shorted stocks in the country, accounting for 27% of the stocks available for trading. That’s the third-highest among the 1,500 largest US stocks, according to FactSet.

There was also a huge surge in mentions on Reddit after the bell, according to Sentiment Tracker Swaggy stocks. Bed Bath & Beyond was a meme favorite earlier this year, joining people like GameStop and AMC entertainmentbefore falling out of favor as the retail movement lost some of its momentum.

Bed Bath & Beyond shares rose 9.6% to $ 16.75 during regular trading on Tuesday. Shares rose dramatically in high volume after-hours trading.

Seymour Asset Management founder Tim Seymour told CNBCs “Quick money“That Bed Bath & Beyond shares were driven by the interest of newer and non-traditional investors.

“There are a number of these broken companies out there finding ways to reinvent themselves,” he said, referring to the volatile stock trading based on Reddit messaging boards. “Whether some of these companies are [reinventing themselves] or not, the capital markets allow them to get there and find out later. And that was one of the big stories of 2021. “

What Bed Bath & Beyond announced

After years of poor sales growth, Bed Bath & Beyond seeks to revitalize its business under CEO Mark Tritton. He has tried to streamline his business, close underperforming stores, and introduce private label products in hopes of offering buyers products they can only find in his stores.

The company said Tuesday it would create a digital marketplace to build a bigger presence on the internet. It gave only a few more details about when the platform would launch and how exactly it would work.

“Marketplace is another example of how we are further redefining our business model,” Tritton said in a statement. “We are developing new ways for long-term profitable growth so that we can organically expand our existing expertise in the home and baby categories.”

Separately it said Kroger – the country’s largest supermarket chain – will begin selling some of Bed Bath and Beyond’s household and baby products on their website and in selected stores as part of a pilot project from 2022.

A Kroger spokeswoman said the number of deals will be announced at a later date, along with more details.

Bed Bath & Beyond has also named Anu Gupta as Chief Growth Officer, a newly created position. She was previously the Chief Strategy and Transformation Officer of Bed Bath & Beyond.

The company also brought on Rafeh Masood as Chief Customer Officer, another newly created position. Masood was previously Chief Digital Officer and Interim Chief Brand Officer of Bed Bath & Beyond.

Both appointments are effective immediately and will report to Tritton.

Bed Bath & Beyond also said that it is expected to a $ 1 billion share buyback plan by the end of the 2021 financial year, two years earlier than planned.

Positive developments

Neil Saunders, Managing Director of GlobalData Retail, said the Bed Bath announcements were positive developments.

“Anything to do with the terms ‘marketplace’ and ‘digital sales’ and the like tends to have a very positive effect on inflation,” he said. However, he added that the company has lagged behind its competitors and is struggling to refresh its brand.

Saunders also said household goods sales are poised to slow down after spiking during the pandemic. The sticker shock inflation inflation consumers are taking is likely to put further pressure on the category, as is the desire to get back to spending money on travel and restaurants.

“I can see why they are increasing. Why they are increasing this order of magnitude is a bit of a mystery,” he said. “But a lot of things about Wall Street and stock movements are a mystery. Sometimes it’s irrational movements.”

Ree Drummond Shares Her Trend Fashion and the Clothes That Makes It the ‘Finest Day of My Life’

Ree Drummondis new Walmart clothing line perfectly represents the style of the Pioneer Woman star. In an interview with People, Drummond shared her penchant for fluid feminine fashion and revealed the types of clothing that bring her happiness and make her “the best day of my life”.

Ree Drummond | Monica Schipper / Getty Images for The Pioneer Woman Magazine

Ree Drummond’s Walmart clothing reflects her love for feminine styling

In an interview with persons, Drummond talked about her Fall collection from Walmart and what inspired the clothing line that includes jeans, leggings, sweaters, tops, dresses and athleisure pieces.

The Pioneer Woman star shared that, though she has lost weight, she still relies on her signature flowing tops. “I’ve found that I love the same clothes. My size may be a little smaller, but I still love them [loose] Silhouettes, ”said Drummond. “A little frill here and there. Empire waist. I still like the loose fit with enough small details that it doesn’t look like I’m wearing curtains.

She added, “It’s still very flattering. I still love the same style. “

She said well-fitting clothing is a game changer

Drummond’s fashion leanings are unmistakable, with lots of floral patterns in the mix. She explained, “Everyone who knows me knows that I have a certain look that is feminine and floral and not as fit because I have four children.”

Drummond also admitted that she doesn’t have a “favorite shop or designer,” and she thinks so Discover clothes that fit is the most important thing to her.

“If it suits me, I love it. It doesn’t matter where it comes from, what it’s made of, ”she explained. “If I find a top that I like or a sweater that fits, it’s simply the best day of my life.”

During their live event for Walmart, a fan asked Drummond what her favorite design was, and she shared how her collection portrayed her “favorite shapes”.

“They look at my favorite shapes and that was one of the reasons I wanted to start The Pioneer Woman clothing line,” she replied. “Because I’m always looking for the perfect top that fits me well. I don’t care where it is or what I have to do to get it – if it suits me, I’m happy. ”

Commented Drummond, “And so I wanted to be able to bring all the tops I had in my head to life so you could check out some of my favorite designs.”

‘The Pioneer Woman’ star shared her favorite pieces from the Walmart collection

Drummond is a fan of everything in their fall Walmart collection, but shared their enthusiasm for the sweaters in an October interview Life in the south Magazine.

“For the first time we now have sweaters. I will live in them, ”she explained. You are my favorites. I love sweaters when they’re flattering. Sometimes they can be big and bulky, but they are not. “

Drummond continued, “My favorite is the black and teal floral print with a waterfall neckline. It’s all I love about sweater-shaped clothes. Small bell sleeves, large bluebells, a waterfall neckline … well, I grew up in the 70s. ”

She also shared her love for the solid V-neck sweater in her collection, stating, “The shape is so cute.”

TIED TOGETHER: ‘The Pioneer Woman’: Ree Drummond shared her simple weight loss tips

Walgreens shares surge on plans to spice up give attention to well being providers

Walgreens Boots Alliance‘s new CEO Roz Brewer said Thursday the drugstore chain will sharpen its focus on healthcare and make it the company’s “new growth engine”.

Speaking at a virtual investor’s day, she said the company’s nearly 9,000 stores in the United States will become places where customers can go to a doctor’s appointment, take medical tests, and seek advice from a nurse or pharmacist. These services will be under a new division of the company called Walgreens Health.

“This new Walgreens Health will make a difference and move us away from retail and just dispense drugs,” she said in an interview with CNBC’s Bertha Coombs. “It will be about the life we ​​lead and the life we ​​touch and the life we ​​can convey to doctors and clinicians in our buildings, both physically and digitally.”

Investors seemed receptive to Walgreens’ plan. Shares closed 7.4% on Thursday at $ 50.77. This year, stocks are up more than 29% so far.

Brian Tanquilut, a stock research analyst at Jefferies, said Walgreens achieved what many investors wanted Thursday by setting out how it will become a proactive player in healthcare.

“Right now people are saying, ‘This is a solid strategy and we’re giving you some credit for it,'” he said.

Walgreens plan is to open hundreds of primary care clinics, shake up the choice of in-store goods, and get stakes in multiple healthcare companies.

The company expects this strategy to pay off in the years to come. For the next year, adjusted earnings per share on a constant currency basis is expected to show flat growth, it said. However, growth will accelerate, so adjusted earnings per share will grow about 4% annually for the next three years. Beyond fiscal 2024, the company’s growth algorithm will result in adjusted earnings per share growth of between 11% and 13%.

Brewer referred to the companies Fourth Quarter Results as proof that Walgreens is built on solid foundations.

Tanquilut said the new vision for Walgreens is a notable linchpin.

“They’re turning the pharmacy into a health center,” he said. “Instead of relying on retail, the value driver is no longer controlling scripts [prescriptions] from the pharmacy. It actually provides care and makes the patient loyal to business. “

Expansion of the health system

It recently decided Invest another $ 5.2 billion in VillageMD, a primary care company that will operate clinics in Walgreens stores and is on track to go public in 2022. It also acquired a controlling interest in home health company CareCentrix and specialty pharmacy company Shields Health Solutions.

In addition to expanding health services, Walgreens will increase its cost savings target to $ 3.3 billion by 2024. The company decided to increase that target after saving $ 2 billion in costs, CFO James Kehoe said.

brewer took over the top management role from Walgreens in mid-March after serving as Chief Operating Officer of Starbucks and CEO of Walmart– owned by Sam’s Club.

She said the health care mission was personal to her. At the company’s Investor Day, she recalled the last months of her mother’s life as her family juggled medical bills, numerous doctors, and kidney dialysis appointments. The experience, she said, was “incredibly confusing and unwieldy and stressful”.

She said that distracted her family from what should have been the focus: enjoying the remaining time with her mother.

For so many Americans, this is the same experience – and one that Walgreens wants to solve by integrating primary care with pharmacies and freeing up more staff time to help patients.

A new look and feel in the stores

For the next several years, Walgreens leaders say consumers will see and feel the difference when they walk into neighborhood stores.

Walgreens said it will have 85 primary care clinics in stores by the end of the year. They will operate under the name Village Medical at Walgreens. By 2025, there should be at least 600 doctor’s offices in more than 30 U.S. markets, and 1,000 by 2027. More than half of them are in medically underserved parts of the country.

Walgreens Health Corners are being added in some stores and online. The retail space is occupied by medical professionals such as nurses and pharmacists who can advise patients and help them with the treatment of chronic diseases.

So far, Walgreens has opened 40 of them. By the end of this financial year there should be more than 100 and finally more than 3,000 in its branches.

Customers will be able to get other types of medical tests, such as pneumonia, strep, HIV, and sexually transmitted infections, said Walgreens President John Standley. He said the company already has pilots in place, including a test pilot for HIV in two states that expects sales of $ 26 million by fiscal 2024.

To give pharmacists time to answer customer questions, get vaccinations and other medical tests, Walgreens is opening centralized centers that fill out prescriptions and ship them to stores and homes, Standley said. It has already opened two centers in Dallas and Phoenix and plans to open an additional nine by the end of fiscal 2022, bringing the number of pharmacies served to around 3,900.

Before the store, the company’s merchandise will be “more healthy for you,” Brewer said in a CNBC interview. She said Walgreens had already seen consumers self-drawn to diet supplements and beauty products with a wellness outlook. She said more private label products will also be added.

She said Walgreens will take a close look at tobacco sales. It continued to sell cigarettes even after rival CVS Health discontinued the products in 2014.

Walgreens’ strategy is similar to that of Rivals CVS health – but with one big caveat. CVS is also an insurance provider. It Acquired Aetna in 2018 in a $ 69 billion merger. It also owns one of the largest pharmacy service managers, Caremark.

CVS has expanded its health offering in drugstores by opening emergency centers called MinuteClinics. It is turning hundreds of its stores into HealthHubs, where people can meet with a therapist, take a yoga class, or get help managing their diabetes.

According to Jefferies’ Tanquilut, CVS is pursuing a more holistic health strategy with Caremark, Aetna and their businesses. This creates natural synergies, he said, such as encouraging Aetna members to go to MinuteClinic for flu shots or urgent treatment. In addition, CVS has a “first mover advantage” by converting businesses into health goals.

He has a hold rating on Walgreens stock with a target price of $ 53, about 5% above current stock price. He has a buy rating on CVS stock with a target price of $ 95, about 12% higher than where the stock is currently trading.

On Thursday, Kehoe said that Walgreens lack of an insurance company can work to its advantage. He said the company is non-cash and focused solely on improving health outcomes. He also said Walgreens will have full-fledged primary care clinics, not the more limited services that MinuteClinic offers.

So far, Walgreens has signed agreements with Clover health, an insurance start-up from Medicare, and Blue Shield of California to provide health care services to more than 2 million members.

AJ Rice, a health services equity research analyst at Credit Suisse, said Walgreens hopes insurers will see them as “Switzerland” as their “partner of choice”.

He said CVS and Walgreens both have a great opportunity to turn retail pharmacies into collaborative healthcare touchpoints. However, he said companies need to prove they can attract people with clinical backgrounds and make the cultural shift.

It has a neutral rating on Walgreens stock with a price target of $ 48, including where the stock is currently trading, and an outperformance rating on CVS, with a price target of $ 100 above where the stock is currently trading traded.

Walgreens will look for growth in other areas as well. In the UK, boots stores are known for their wide range of premium makeup and beauty brands. Kehoe said retail traffic picked up again when the country lifted pandemic restrictions, making people more comfortable browsing the aisles and socializing.

Some of Walgreen’s beauty brands, No. 7, and Soap & Glory, are now sold by major US retailers, including target, Ulta beauty and Walmart. These brands are currently in a $ 750 million business and are expected to grow to $ 1 billion, Kehoe said.

Credit Suisse’s Rice said Walgreens executives have also hinted at reassessing some of the companies the company owns. He said investors would be watching to see if Walgreens will sell assets – like some of its international businesses – to fund some of its growth in healthcare in the US

More vaccine demand is still ahead

Covid-19 vaccines are expected to further boost business in the coming year. Walgreens administered 34.6 million vaccines for the fiscal year ended August 31. 13.5 million vaccines were administered in the fourth quarter, accounting for 21% of the total vaccines administered.

Walgreens estimates there will be 25 million Covid vaccines in the coming fiscal year as some people receive booster vaccinations and younger children are expected to qualify for the vaccinations.

But the company will also face a list of challenges retailers are currently facing. These include an increase in shoplifting, labor shortages and pandemic-induced supply chain confusion.

Walgreens is one example Closure of five additional locations in San Francisco for organized retail theft. It recently announced plans to raise the minimum wage to $ 15 an hour until November 22nd to keep up with other retailers who have raised wages or given perks.

Kehoe said the company was preoccupying the company’s health care business at a time when there was “a war for talent.” However, he said Walgreens has an easier time hiring healthcare professionals who know more about the company and “believe in the vision”.