Southwest Airlines declares ‘operational emergency’ after number out-of-service aircraft doubles

Southwest Airlines told its mechanics on Friday that it is experiencing an “operational emergency” due to an unusually high number of grounded jets — and demanded they show up for work or risk termination, according to a company memo issued on Friday and seen by CNBC. “To take care of our customers, we are requiring all hands on deck to address maintenance items so that we may promptly return aircraft to service,” Southwest’s statement said. “At the same time, our operational planners have been


Southwest Airlines told its mechanics on Friday that it is experiencing an “operational emergency” due to an unusually high number of grounded jets — and demanded they show up for work or risk termination, according to a company memo issued on Friday and seen by CNBC. “To take care of our customers, we are requiring all hands on deck to address maintenance items so that we may promptly return aircraft to service,” Southwest’s statement said. “At the same time, our operational planners have been
Southwest Airlines declares ‘operational emergency’ after number out-of-service aircraft doubles Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-16  Authors: leslie josephs, bloomberg, getty images
Keywords: news, cnbc, companies, items, outofservice, aircraft, doubles, number, emergency, service, declares, airlines, told, mechanics, maintenance, southwest, airline, work, according, operational


Southwest Airlines declares 'operational emergency' after number out-of-service aircraft doubles

Southwest Airlines told its mechanics on Friday that it is experiencing an “operational emergency” due to an unusually high number of grounded jets — and demanded they show up for work or risk termination, according to a company memo issued on Friday and seen by CNBC.

On Friday, 100 Southwest flights were cancelled, more than any other U.S. airline, according to flight-tracking site FlightAware, and more than 1,000 were delayed.The airline usually plans for having as many as 20 aircraft removed from service for unexpected maintenance issues every day.

However, each day this week, the percentage of out-of-service aircraft among its available fleet of about 750 Boeing 737s has been double the daily average, “with no common theme among the reported items,” the airline said in statement.

“To take care of our customers, we are requiring all hands on deck to address maintenance items so that we may promptly return aircraft to service,” Southwest’s statement said. “At the same time, our operational planners have been working in the background to minimize the impact to our Customers.”

The airline — which has been in contract talks with its mechanics since 2012 — told mechanics that if they are “alleging illness” they must provide a doctor’s note when they return to work or risk losing their jobs, according to the memo.

“The uptick in maintenance items we experienced over the last few days have resulted in a slight increase” in cancellations, a Southwest spokeswoman told CNBC, but declined to provide a breakdown between disruptions caused by either maintenance or weather. On Saturday, 39 Southwest flights were canceled, more than other airlines, according to FlightAware.

Southwest told the mechanics it would assign them overtime, and would only honor vacation or shift trade requests that had already been approved, according to the memo, which was first reported by the Chicago Business Journal.


Company: cnbc, Activity: cnbc, Date: 2019-02-16  Authors: leslie josephs, bloomberg, getty images
Keywords: news, cnbc, companies, items, outofservice, aircraft, doubles, number, emergency, service, declares, airlines, told, mechanics, maintenance, southwest, airline, work, according, operational


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Porsche doubles production of the electric car it hasn’t even released yet in run for Tesla’s market

Porsche is already having to double its production plan on the electric car it hasn’t even released yet. The German car maker known for its sports cars and racing heritage said stronger-than-expected demand has led it to boost production on its electric Taycan car from 20,000 to 40,000 units, the company confirmed to CNBC on Wednesday.


Porsche is already having to double its production plan on the electric car it hasn’t even released yet. The German car maker known for its sports cars and racing heritage said stronger-than-expected demand has led it to boost production on its electric Taycan car from 20,000 to 40,000 units, the company confirmed to CNBC on Wednesday.
Porsche doubles production of the electric car it hasn’t even released yet in run for Tesla’s market Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-01-23  Authors: robert ferris, source
Keywords: news, cnbc, companies, units, teslas, market, doubles, car, production, porsche, yetthe, racing, released, taycan, strongerthanexpected, run, electric


Porsche doubles production of the electric car it hasn't even released yet in run for Tesla's market

Porsche is already having to double its production plan on the electric car it hasn’t even released yet.

The German car maker known for its sports cars and racing heritage said stronger-than-expected demand has led it to boost production on its electric Taycan car from 20,000 to 40,000 units, the company confirmed to CNBC on Wednesday.


Company: cnbc, Activity: cnbc, Date: 2019-01-23  Authors: robert ferris, source
Keywords: news, cnbc, companies, units, teslas, market, doubles, car, production, porsche, yetthe, racing, released, taycan, strongerthanexpected, run, electric


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Trump doubles down on unsubstantiated claims of election ‘stealing’ in Florida

President Donald Trump on Saturday doubled down on his unsubstantiated claims that there was something nefarious going on in the Florida elections. His assertion came in response to the news on Saturday that the Florida Secretary of State ordered a machine recount of votes in the U.S. Senate race, as well as the governor’s race. Rick Scott and Democrat Bill Nelson are locked in a tight battle for Florida’s Senate seat. In the gubernatorial contest, Republican Ron DeSantis, a former congressman,


President Donald Trump on Saturday doubled down on his unsubstantiated claims that there was something nefarious going on in the Florida elections. His assertion came in response to the news on Saturday that the Florida Secretary of State ordered a machine recount of votes in the U.S. Senate race, as well as the governor’s race. Rick Scott and Democrat Bill Nelson are locked in a tight battle for Florida’s Senate seat. In the gubernatorial contest, Republican Ron DeSantis, a former congressman,
Trump doubles down on unsubstantiated claims of election ‘stealing’ in Florida Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-10  Authors: michelle fox, kevin lamarque
Keywords: news, cnbc, companies, doubles, election, stealing, recount, unsubstantiated, votes, nelson, race, races, claims, florida, trump, tweeted, senate, watching


Trump doubles down on unsubstantiated claims of election 'stealing' in Florida

President Donald Trump on Saturday doubled down on his unsubstantiated claims that there was something nefarious going on in the Florida elections.

His assertion came in response to the news on Saturday that the Florida Secretary of State ordered a machine recount of votes in the U.S. Senate race, as well as the governor’s race. The results are due by 3 p.m. ET Thursday.

Trump tweeted, “Trying to STEAL two big elections. We are watching closely!”

Republican Gov. Rick Scott and Democrat Bill Nelson are locked in a tight battle for Florida’s Senate seat. Scott’s lead over Nelson narrowed to about 12,500 votes, or 0.15 percent, by Saturday afternoon.

In the gubernatorial contest, Republican Ron DeSantis, a former congressman, was last leading by 0.41 percentage points over Democratic Tallahassee Mayor Andrew Gillum.

Earlier in the day, a motion was approved in Broward County to begin a recount in four Florida races, including the senate and governor races.


Company: cnbc, Activity: cnbc, Date: 2018-11-10  Authors: michelle fox, kevin lamarque
Keywords: news, cnbc, companies, doubles, election, stealing, recount, unsubstantiated, votes, nelson, race, races, claims, florida, trump, tweeted, senate, watching


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

BP profit more than doubles on stronger oil prices

BP reported third-quarter profits more than doubled on Tuesday, far exceeding analyst expectations amid stronger oil prices. The British oil giant posted first-quarter underlying replacement cost profit, used as a proxy for net profit, of $3.8 billion for the three-month period ending Sept 30. Analysts at data firm Refinitiv had been expecting third-quarter net profit to come in at around £3.013 billion. In the third quarter of 2017, BP reported net profit of $1.865 billion. In the third quarter


BP reported third-quarter profits more than doubled on Tuesday, far exceeding analyst expectations amid stronger oil prices. The British oil giant posted first-quarter underlying replacement cost profit, used as a proxy for net profit, of $3.8 billion for the three-month period ending Sept 30. Analysts at data firm Refinitiv had been expecting third-quarter net profit to come in at around £3.013 billion. In the third quarter of 2017, BP reported net profit of $1.865 billion. In the third quarter
BP profit more than doubles on stronger oil prices Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-30  Authors: sam meredith
Keywords: news, cnbc, companies, profit, cash, used, net, transaction, oil, bp, quarter, threemonth, reported, stronger, doubles, prices


BP profit more than doubles on stronger oil prices

BP reported third-quarter profits more than doubled on Tuesday, far exceeding analyst expectations amid stronger oil prices.

The British oil giant posted first-quarter underlying replacement cost profit, used as a proxy for net profit, of $3.8 billion for the three-month period ending Sept 30. Analysts at data firm Refinitiv had been expecting third-quarter net profit to come in at around £3.013 billion.

In the third quarter of 2017, BP reported net profit of $1.865 billion.

“Overall a good set of results with everything working well,” Brian Gilvary, CFO at BP, told CNBC’s “Squawk Box Europe” on Tuesday.

Here are the key takeaways:

Underlying replacement cost profit, used as a proxy for net profit, came in at $3.8 for the three-month period ending Sept 30.

In the third quarter of 2017, BP reported net profit of $1.865 billion.

Dividend of 10.25 cents a share for the third quarter, 2.5 percent higher than a year earlier

Earlier this year, BP announced the acquisition of BHP’s Billiton’s shale assets for $10.5 billion. At the time, the oil firm claimed the purchase would allow it to beef up its U.S. business and increase earnings and cash per share.

The original deal was agreed with BP offering 50 percent cash and 50 percent shares for BHP Billiton’s shale assets. However, the company announced it would now complete the transaction at the end of the month from available cash without resorting to a rights issue as planned.

Gilvary said this “simplified the transaction an awful lot.”


Company: cnbc, Activity: cnbc, Date: 2018-10-30  Authors: sam meredith
Keywords: news, cnbc, companies, profit, cash, used, net, transaction, oil, bp, quarter, threemonth, reported, stronger, doubles, prices


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Roubini doubles down on criticisms of crypto, calls it a ‘stinking cesspool that is in meltdown’

The cryptocurrency world is a “stinking cesspool” and is fundamentally worth nothing, according to Nouriel Roubini, the economist famed for predicting the 2008 financial crisis. Roubini, who has often been referred to as “Dr. Doom” due to his bearish market outlook, is known to be highly skeptical of cryptocurrencies. On Thursday, he said in testimony to U.S. senators that crypto is “the mother or father of all scams and bubbles.” He continued in a separate post: “It is indeed laughable to think


The cryptocurrency world is a “stinking cesspool” and is fundamentally worth nothing, according to Nouriel Roubini, the economist famed for predicting the 2008 financial crisis. Roubini, who has often been referred to as “Dr. Doom” due to his bearish market outlook, is known to be highly skeptical of cryptocurrencies. On Thursday, he said in testimony to U.S. senators that crypto is “the mother or father of all scams and bubbles.” He continued in a separate post: “It is indeed laughable to think
Roubini doubles down on criticisms of crypto, calls it a ‘stinking cesspool that is in meltdown’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: ryan browne, jin lee, bloomberg, getty images
Keywords: news, cnbc, companies, highly, calls, negative, stinking, crypto, cesspool, market, fundamentals, late, meltdown, doubles, known, scoins, roubini, value, cryptocurrencies, criticisms


Roubini doubles down on criticisms of crypto, calls it a 'stinking cesspool that is in meltdown'

The cryptocurrency world is a “stinking cesspool” and is fundamentally worth nothing, according to Nouriel Roubini, the economist famed for predicting the 2008 financial crisis.

In a series of tweets, Roubini said late Thursday that a recent sharp downturn in the prices of cryptocurrencies — which came amid an intense period of selling for global stock markets — showed that the nascent digital assets have poor fundamentals.

“The bloodbath is worsening,” he said in a response to one Twitter user, pointing out that digital currencies had fallen much more steeply than equities during Wednesday and Thursday’s sell-offs. “So tell me: which better fundamentals? Can’t convert s—coins into productive manure.”

Roubini, who has often been referred to as “Dr. Doom” due to his bearish market outlook, is known to be highly skeptical of cryptocurrencies. On Thursday, he said in testimony to U.S. senators that crypto is “the mother or father of all scams and bubbles.” Virtual currencies like bitcoin are known to be highly volatile, sometimes adding or shedding hundreds of dollars in value within hours.

He continued in a separate post: “It is indeed laughable to think that useless crypto-currencies or s—coins have any fundamentals of value. Their fundamental value is ZERO or actually negative … if you price correctly their negative externality of hogging energy and destroying the environment.”

Cryptocurrencies received much attention from major central bankers, financial executives and economists late last year when the world’s largest by market value, bitcoin, surged to a record high close to $20,000.


Company: cnbc, Activity: cnbc, Date: 2018-10-12  Authors: ryan browne, jin lee, bloomberg, getty images
Keywords: news, cnbc, companies, highly, calls, negative, stinking, crypto, cesspool, market, fundamentals, late, meltdown, doubles, known, scoins, roubini, value, cryptocurrencies, criticisms


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Trump doubles down on Fed attacks, saying it’s ‘going loco’

Saying he’s “not happy” with the Fed, Trump told Fox News he could’t understand why it was continuing to tighten U.S. monetary policy. The Fed is going loco and there’s no reason for them to do it. Even as he expressed concerns about the Fed’s interest rate policy, Trump told reporters at the White House Tuesday that he had not spoken to Fed Chairman Jerome Powell about them. I think the Fed has gone crazy,” the president told reporters. The Fed has raised interest rates three times this year an


Saying he’s “not happy” with the Fed, Trump told Fox News he could’t understand why it was continuing to tighten U.S. monetary policy. The Fed is going loco and there’s no reason for them to do it. Even as he expressed concerns about the Fed’s interest rate policy, Trump told reporters at the White House Tuesday that he had not spoken to Fed Chairman Jerome Powell about them. I think the Fed has gone crazy,” the president told reporters. The Fed has raised interest rates three times this year an
Trump doubles down on Fed attacks, saying it’s ‘going loco’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: christina wilkie, everett rosenfeld, nicholas kamm, afp, getty images
Keywords: news, cnbc, companies, saying, white, going, trump, president, fed, problem, central, told, rates, loco, policy, doubles, attacks, interest


Trump doubles down on Fed attacks, saying it's 'going loco'

U.S. President Donald Trump continued his tirade against the Federal Reserve in a late Wednesday television appearance, laying into the central bank’s policy decisions and suggesting it is to blame for Wednesday’s sharp market decline.

Saying he’s “not happy” with the Fed, Trump told Fox News he could’t understand why it was continuing to tighten U.S. monetary policy. The president has previously expressed displeasure with the central bank, and that’s led some to fear the institution’s independence is at risk.

“The problem I have is with the Fed. The Fed is going wild. I mean, I don’t know what their problem is that they are raising interest rates and it’s ridiculous,” Trump said during a telephone interview with Fox host Shannon Bream. “The problem [causing the market drop] in my opinion is Treasury and the Fed. The Fed is going loco and there’s no reason for them to do it. I’m not happy about it.”

“Loco” means “crazy” in Spanish.

In recent months, U.S. officials have sought to emphasize that Trump would honor the Fed’s historic ability to make decisions independent of political interference. “We as an administration absolutely support the independence of the Fed,” Treasury Secretary Steven Mnuchin reportedly said in July.

As recently as Tuesday, Trump had signaled that he understood the importance of maintaining a firewall between the White House and the Fed. Even as he expressed concerns about the Fed’s interest rate policy, Trump told reporters at the White House Tuesday that he had not spoken to Fed Chairman Jerome Powell about them.

“I like to stay uninvolved with them. I have not spoken” to Powell all year, Trump said.

Trump’s attitude towards the Fed seemed to change Wednesday, however, as fears about rapidly rising rates helped cause the Dow Jones Industrial Average to drop more than 800 points by day’s end. The S&P 500 posted its worst day since February and clinched its first five-day losing streak since 2016.

Early on Wednesday afternoon, Trump knocked his central bank as he deplaned from Air Force One in Erie, Pennsylvania for a campaign rally. “I think the Fed is making a mistake. They are so tight. I think the Fed has gone crazy,” the president told reporters.

The Fed has raised interest rates three times this year and is largely expected to hike once more before year-end.

The most recent September rate hike drew criticism from Trump at the time, who said he was “worried about the fact that they seem to like raising interest rates, we can do other things with the money,” he said.

—CNBC’s Thomas Franck contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-10-11  Authors: christina wilkie, everett rosenfeld, nicholas kamm, afp, getty images
Keywords: news, cnbc, companies, saying, white, going, trump, president, fed, problem, central, told, rates, loco, policy, doubles, attacks, interest


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Search company Elastic nearly doubles on first trading day

Elastic, a company that commercializes open-source software for search and data analytics, saw its stock soar as much as 106 percent on Friday, its first day of trading on the New York Stock Exchange, under the symbol ESTC. The performance is more dramatic than some other initial public offerings from technology companies in 2018, including DocuSign and Dropbox. The company ultimately raised $252 million in the IPO, selling 7 million ordinary shares of its stock. Underwriters have the option to


Elastic, a company that commercializes open-source software for search and data analytics, saw its stock soar as much as 106 percent on Friday, its first day of trading on the New York Stock Exchange, under the symbol ESTC. The performance is more dramatic than some other initial public offerings from technology companies in 2018, including DocuSign and Dropbox. The company ultimately raised $252 million in the IPO, selling 7 million ordinary shares of its stock. Underwriters have the option to
Search company Elastic nearly doubles on first trading day Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-10-05  Authors: jordan novet, waverly colville
Keywords: news, cnbc, companies, doubles, nearly, share, company, day, companies, shares, public, search, million, trading, elastic, stock, software


Search company Elastic nearly doubles on first trading day

Elastic, a company that commercializes open-source software for search and data analytics, saw its stock soar as much as 106 percent on Friday, its first day of trading on the New York Stock Exchange, under the symbol ESTC. The stock closed at $70 per share, representing a 94.4 percent rise.

The performance is more dramatic than some other initial public offerings from technology companies in 2018, including DocuSign and Dropbox.

The debut rally is all the more pronounced because it comes on a down day for the broader market, particularly the tech sector. The S&P 500 tech index fell 1.7 percent on Friday. Other companies that went public this year are getting pummeled, including Eventbrite, which is down 10 percent, and DocuSign and Zscaler, which each fell more than 4 percent.

The company ultimately raised $252 million in the IPO, selling 7 million ordinary shares of its stock. Underwriters have the option to purchase an additional 1.05 million shares within 30 days of the offering.

Elastic first filed to go public on Sept. 5. Then, on Sept. 24, the company estimated that it would price shares in the range of $26 to $29 per share. On Oct. 2, the company provided a higher estimated range: $33 to $35 per share. And on Thursday, Oct. 4, the company announced that it had priced shares at $36 per share, above the high end of the latest range.

The stock opened almost two times higher, at $70 per share. At that price, Elastic would have an implied valuation of $4.86 billion, or $4.93 billion if underwriters exercise their option to buy more shares.

“We’ve been talking to investors over the past two weeks and over the past two months, and the story really resonates,” Elastic co-founder and CEO Shay Banon said on CNBC’s “Squawk on the Street” on Friday after the stock began trading. “These investors end up talking to customers of ours, and they’re very happy using our software and very proud. That effect just means that people put trust in our company.”

Competitors include Alphabet’s Google, Splunk, Micro Focus and cloud providers such as Amazon. Elastic provides its commercial software atop the Amazon and Google clouds. It’s also available for companies to use in their own data centers.

Correction: A previous version of this story incorrectly stated that the stock was trading on the Nasdaq.

— CNBC’s Ari Levy contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2018-10-05  Authors: jordan novet, waverly colville
Keywords: news, cnbc, companies, doubles, nearly, share, company, day, companies, shares, public, search, million, trading, elastic, stock, software


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Mike Pompeo nearly doubles promotions of top diplomats as he seeks to restore ties with alienated US diplomats

According to a provisional agency document circulated internally on Friday, Pompeo recommended doubling the number of “career ministers” — the second-highest rank in the U.S. foreign service — to eight from four. Pompeo also proposed nearly doubling those promoted to the third rank, “minister-counselor,” to 68 from 35 the year before. For the critical level of ‘officer counsellor’— the entry point for the “senior” foreign service and the hurdle at which many careers in the up-or-out system found


According to a provisional agency document circulated internally on Friday, Pompeo recommended doubling the number of “career ministers” — the second-highest rank in the U.S. foreign service — to eight from four. Pompeo also proposed nearly doubling those promoted to the third rank, “minister-counselor,” to 68 from 35 the year before. For the critical level of ‘officer counsellor’— the entry point for the “senior” foreign service and the hurdle at which many careers in the up-or-out system found
Mike Pompeo nearly doubles promotions of top diplomats as he seeks to restore ties with alienated US diplomats Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-17  Authors: aaron p bernstein
Keywords: news, cnbc, companies, pompeo, budget, diplomats, number, rank, alienated, foreign, promotions, doubling, service, ties, doubles, trump, recommended, seeks, proposed, restore, mike, nearly


Mike Pompeo nearly doubles promotions of top diplomats as he seeks to restore ties with alienated US diplomats

According to a provisional agency document circulated internally on Friday, Pompeo recommended doubling the number of “career ministers” — the second-highest rank in the U.S. foreign service — to eight from four.

Pompeo also proposed nearly doubling those promoted to the third rank, “minister-counselor,” to 68 from 35 the year before.

For the critical level of ‘officer counsellor’— the entry point for the “senior” foreign service and the hurdle at which many careers in the up-or-out system founder — he increased the number by more than 50 percent to 97 from 63.

The State Department had no immediate comment on the data.

An official who declined to be identified said the final number of promotions for fiscal 2018, which ends on Sept. 30, could exceed those published over the past few weeks, in part because the lists do not include some people recommended for promotion who have yet to complete mandatory career management programs.

Tillerson, who cut promotions in six out of the seven top ranks, said at the time he did so because of earlier hiring surges and because the agency’s “position base” would “contract over the next couple of years.”

That decision, and Tillerson’s embrace of roughly 30 percent budget cuts that Trump proposed but Congress largely rejected, angered many department employees, for whom protecting one’s budget is an axiom of bureaucratic warfare in Washington.

Tillerson, whom Trump fired via tweet on March 13, argued in a Nov. 28, 2017, speech that he had inherited an agency budget that was at a record high and was unsustainable. A Tillerson spokeswoman did not immediately reply to a request for comment.


Company: cnbc, Activity: cnbc, Date: 2018-09-17  Authors: aaron p bernstein
Keywords: news, cnbc, companies, pompeo, budget, diplomats, number, rank, alienated, foreign, promotions, doubling, service, ties, doubles, trump, recommended, seeks, proposed, restore, mike, nearly


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Lemonis doubles down on long-term view for Camping World, says No. 1 asset is loyalty club

Camping World Holdings Chairman and CEO Marcus Lemonis issued a vote of confidence in his RV and camping accessory retailer when he bought a chunk of its stock on Friday. While shares of Camping World have been relatively stagnant since Lemonis last appeared on the show in June, the CEO appeared confident that his company would achieve its longer-term goals. 1 asset are our customers that sit in our Good Sam file,” he said of Camping World’s loyalty program. But in order to grow that file and to


Camping World Holdings Chairman and CEO Marcus Lemonis issued a vote of confidence in his RV and camping accessory retailer when he bought a chunk of its stock on Friday. While shares of Camping World have been relatively stagnant since Lemonis last appeared on the show in June, the CEO appeared confident that his company would achieve its longer-term goals. 1 asset are our customers that sit in our Good Sam file,” he said of Camping World’s loyalty program. But in order to grow that file and to
Lemonis doubles down on long-term view for Camping World, says No. 1 asset is loyalty club Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-17  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, lemonis, view, asset, good, world, really, worlds, longterm, gander, loyalty, doubles, club, camping, sam, company, grow


Lemonis doubles down on long-term view for Camping World, says No. 1 asset is loyalty club

Camping World Holdings Chairman and CEO Marcus Lemonis issued a vote of confidence in his RV and camping accessory retailer when he bought a chunk of its stock on Friday.

“I set up the bid and I ended up only with 25,000 shares. I was kind of disappointed,” Lemonis, also host of CNBC’s “The Profit,” admitted to fellow CNBC host Jim Cramer in a “Mad Money” interview on Monday.

While shares of Camping World have been relatively stagnant since Lemonis last appeared on the show in June, the CEO appeared confident that his company would achieve its longer-term goals.

In particular, Lemonis said that Camping World’s 2017 acquisition of outdoor products retailer Gander Mountain would help bolster the Good Sam program, which he said in the past makes his company “the category-killer” in its space.

“Our No. 1 asset are our customers that sit in our Good Sam file,” he said of Camping World’s loyalty program. “That’s the most important part of our business. But in order to grow that file and to grow the annuity part of our business, which is Good Sam, we have to really grow our platform.”

The Good Sam Club, an online database that comprises roughly $100 million of Camping World’s EBITDA, or earnings before interest, tax, depreciation and amortization, provides Camping World customers roadside assistance and warranties on the company’s RVs, as well as savings on other products.

“As I looked at where this company needed to go, doubling the size of the dealership footprint was really the only option, and Gander Outdoors was really the spark that really takes us there,” he said.

That longer-term outlook is what makes Lemonis especially confident in his company’s future, particularly considering the yet-untapped parts of the camping and outdoor retail market.

“What we’re ultimately, Jim, trying to do is find the millennial, the millennial who doesn’t want to go in their father’s … motor home,” the CEO said. “They want to go in a smaller unit, a lighter unit. They want to pull it with their Prius. And we’ve made a concerted effort, through Gander, to enter that market.”

Shares of Camping World Holdings surged 6.78 percent on Monday on news of Lemonis’ buyback. The stock closed at $21.26 percent a share.


Company: cnbc, Activity: cnbc, Date: 2018-09-17  Authors: elizabeth gurdus
Keywords: news, cnbc, companies, lemonis, view, asset, good, world, really, worlds, longterm, gander, loyalty, doubles, club, camping, sam, company, grow


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Fidelity doubles down: Two more no-fee funds covering US stocks launch

The new funds are the Fidelity ZERO Large Cap Index Fund (FNILX) and Fidelity ZERO Extended Market Index Fund (FZIPX), which provides investors with multiple ways to gain core exposure to the U.S. stock market. The total stock market approach that was the first no-fee U.S. stock fund from Fidelity — it also launched a no-fee core international fund — has become a popular choice for long-term investors. In June, Vanguard Group made its own total stock market index mutual fund the default choice f


The new funds are the Fidelity ZERO Large Cap Index Fund (FNILX) and Fidelity ZERO Extended Market Index Fund (FZIPX), which provides investors with multiple ways to gain core exposure to the U.S. stock market. The total stock market approach that was the first no-fee U.S. stock fund from Fidelity — it also launched a no-fee core international fund — has become a popular choice for long-term investors. In June, Vanguard Group made its own total stock market index mutual fund the default choice f
Fidelity doubles down: Two more no-fee funds covering US stocks launch Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-09-13  Authors: eric rosenbaum, nicholas pfosi, the boston globe, getty images, roger wright, brendan mcdermid, stephen lam, thomas b shea, afp, spencer platt
Keywords: news, cnbc, companies, stock, nofee, covering, funds, exposure, fidelity, stocks, fund, launch, market, choice, doubles, investors, index


Fidelity doubles down: Two more no-fee funds covering US stocks launch

“As investors focus more on low-cost, index-based strategies, Fidelity is aiming to gain market share on its platform using its own ETFs and mutual funds and in partnering with iShares. We would expect additional investment styles to be launched by Fidelity in the coming months that are also free,” said Todd Rosenbluth, director of ETF and mutual fund research at CFRA.

The new funds are the Fidelity ZERO Large Cap Index Fund (FNILX) and Fidelity ZERO Extended Market Index Fund (FZIPX), which provides investors with multiple ways to gain core exposure to the U.S. stock market. The large-cap fund is akin to an S&P 500 index fund, while the extended market fund — a portfolio also offered by Vanguard — is a complement to the S&P 500, focusing on the small- and mid-cap stock universe.

The total stock market approach that was the first no-fee U.S. stock fund from Fidelity — it also launched a no-fee core international fund — has become a popular choice for long-term investors. In June, Vanguard Group made its own total stock market index mutual fund the default choice for its employee 401(k) plan, removing the S&P 500 index fund as a choice. But both index options remain viable for long-term investment asset allocations and the additional no-fee funds give investors more choice over core allocations. Fidelity noted that the market exposure across the three no-fee U.S. stock funds covers over two-thirds of industry index assets.

“There are investors who are more comfortable with large-cap U.S. stocks rather than the broader total market exposure that the earlier fund provides,” said Neena Mishra, director of ETF research at Zacks Investment Research, in particular, investors who like to trade more often rather than buy-and-hold for the long-term. “And then there are others who want to increase exposure to mid- and small-cap stocks as they have done better than their large-cap counterparts this year.”


Company: cnbc, Activity: cnbc, Date: 2018-09-13  Authors: eric rosenbaum, nicholas pfosi, the boston globe, getty images, roger wright, brendan mcdermid, stephen lam, thomas b shea, afp, spencer platt
Keywords: news, cnbc, companies, stock, nofee, covering, funds, exposure, fidelity, stocks, fund, launch, market, choice, doubles, investors, index


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post