The international yoga apparel retailer is a hot company with a ton of stores and great sales. But now Wall Street thinks it has grown too fast and saturated the market, says Daniel Gross.
Breaking: trends are trendy.Case in point: Lululemon Athletica. The high-end yoga apparel retailer has enjoyed astronomic growth as the craze for stretching, striking poses, and uttering Hindi phrases has gone national. It’s hard to negotiate the streets of New York these days without being knocked in the head by a yoga mat strapped onto a backpack.Its shares, as shown by the chart below, soared from the single digits in 2009 to a peak of $82 in June.
We’re all sick of political campaigns. So why did the Obama administration wage one over Janet Yellen and Larry Summers? It just makes the president look weak, says Stuart Stevens.
There’s a lot that divides Americans these days, but if there is one unifying idea, it must be that people are sick to death of political campaigns. Our toxic campaign culture, dominated by negativity, has soured vast swaths of the populace to all things political.So it’s more than a little ironic that the poisonous qualities of our multibillion-dollar campaign are seeping into ever more areas of public discourse. And the battle over the next chairman of the Federal Reserve is a perfect example of campaign weaponry deployed for zero public good.
After years of manual labor, people's distinctive thumb markings can wear away. Will they be able to use the latest gadgets and gizmos?
The first thing I thought about Apple’s announcement Tuesday that the next generation of high-end iPhones will be unlocked with a fingerprint was, of course, “cool.” Then I thought about Stephanie Upchurch.Upchurch, a pal of mine and (great) massage therapist, moved from Oregon to Washington a couple years ago, which required her to obtain a new license to practice, which required her to submit a set of fingerprints for not just state but also federal approval, which is when she realized she doesn’t have any fingerprints.
After five years at The Daily Beast, the irrepressible editor is leaving to build her own company. David Freedlander reports.
The Daily Beast’s editor in chief, Tina Brown, announced to the newsroom on Wednesday afternoon that she will be leaving the five-year-old online outfit.Brown said she will form a new company, Tina Brown Live Media, which she described as a home for “theatrical journalism.” Brown said the company will produce live events, panel discussions, summits, and debates, including the Women in the World conference, which she has produced since 2010.“Creating The Daily Beast at the original instigation of Barry Diller in 2008 has given me some of the most exciting and fulfilling years of my professional life,” Brown said.
Apple’s new ‘low-cost’ iPhone is still pretty expensive, which is bad news for profits in an economy where wages are stagnant and truly cheap options are plentiful. Daniel Gross on the stock market’s punishing response—and the bleak outlook in Asia and Africa.
Well that was an expensive product launch. On Tuesday, Apple unveiled two new iPhones, the “cheaper” 5C and the whiz-bang 5S, or as my colleague Winston Ross dubbed them, the “cheap” and the “fancy.”Tech fanboys and fangirls marveled at some of the new features—new colors for the shell! Thumbprint security! But investors were less impressed. The company’s stock, which was trading at $505 in the middle of the day, closed at $494.64. On Wednesday morning, after investors slept on it, they decided to dump the shares like a cheap BlackBerry.
Sells $10.4 million to pay for divorce.
Investors usually regard large sales of stock by top executives as a red flag. When the top dog bails out, it is often because he knows things are going badly at the company. But Best Buy CEO Hubert Joly has a good excuse for dumping $10.4 million worth of shares he holds in the electronics retailer—about 20 percent of his total stake. The company said that he needed cash to cover the cost of dissolving his nuptials. “Mr. Joly has recently gone through a divorce and needs to sell a portion of his holdings in order to cover the costs of that unfortunate event,” the company said in a statement. Joly’s timing was pretty good. After the company survived a near-death experience, its stock tripled in 2013 as its underlying business has stabilized.
Caffeine purveyor now worth $57 billion.
Somebody forgot to tell Starbuck’s investors that the bull market is running out of steam. The company’s shares, which have doubled in the past two years, pushed to a new record on Wednesday, nearing $75. Why? It turns out that being a retailer of a product that people are addicted to is a pretty good business. In a climate that has been hostile to mass retailers, Starbuck’s continues to pull in customers without having to resort to discounting. The company’s higher-end consumers haven’t reacted to recent price increases by going elsewhere, and competition from cheaper java joints like Dunkin’ Donuts and McDonald’s doesn’t seem to be taking a bite out of sales.
In its biggest shakeup in nearly a decade, the elite Dow Jones industrial average booted manufacturers and welcomed companies that specialize in services and assembly. Daniel Gross on how the move reflects the new economy.
On Tuesday, three big changes were made to the Dow Jones Industrial Average. Out went Bank of America, Hewlett-Packard, and Alcoa. In came Goldman Sachs, Visa, and Nike.The news was of more interest to students of finance history rather than to practitioners of finance. Yes, the 30-member club gets pride of place among indices when market summaries are reported. But investment firms design products to mimic the performance of broader, more diversified indices like the Standard & Poor’s 500 and the NASDAQ 100.
The agony of tech geeks came to an end, as Apple unveiled the two latest offerings in its insanely successful line of smartphones. One is cheap and the other is fancy.
Break out the bubbly. What better way to celebrate the biggest announcement in tech than with champagne, which just so happens to be the newest offering in the newest line of smartphones from the makers (Apple) of the coolest sleekest phones on the market?Yes, champagne. The rumors were true. It’s pretty and glistening and golden. But there’s so much more to the next generations of iPhones than what’s exoskeleton deep, and there needed to be.
With an Ohio Walmart hosting a holiday food drive for its own workers, The Daily Beast's Michael Tomasky criticizes the notoriously stingy company for not paying them more.
The Democratic congresswoman could give the craziest Republican a run for his money with her history of wild statements.