Is plunging nearly 20% after reporting and on weak guidance. Expectations were incredibly high. New products and lower inventory were supposed to happen in the second half, but are now pushed into 2025. Also, revenue growth has fallen (projected) from high-single digit to low. It will take a while to right this ship.
In first-half 2024, the S&P is up 15.5%, the Nasdaq 20% and the Dow 4.5%. She expects gains in the second half, though lower. It's prudent to take profits after a strong 18 months. The economy will remain strong. The rally will broaden. We will definitely see a soft landing. Companies like General Mills are actually lowering prices to help a sold consumer. She projects 8-10% corporate earnings growth.
Is plunging 20% today on weak guidance. Is down 40% and their multiple is cut in half and their chief product officer left. They moved away from their core business--athletic leisure to back-to-work. He prefers LULU, which at 20x PE trades lower than Nike. Believes in LULU's management and positioning.
Trades at 11x earning at 10% premium growth. They've raised the dividend 20 straight years.