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Nike, Lululemon Started With Positive Ratings On Raymond James By Investing.com

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© Reuters. Nike (NKE) and Lululemon (LULU) started with positive reviews on Raymond James

Written by Sam Bogda

Raymond James started nike (NYSE 🙂 with Outperform rating and Lululemon Athletica (NASDAQ: With a Strong Buy rating on a note focused on global sports brands on Thursday.

Raymond James analysts have set a $345 price target on Lululemon, telling investors that the company believes it is one of the highest quality among global brands “with a strong but still emerging brand that should double revenue from 2021-2026.”

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“LULU has one of the highest growth rates among its peers as it expands its core business further while also diversifying across channels, geographies and categories. Its operating margins are among the highest for global brands, and we see room for expansion with a strong main line, which should enable growth EPS (estimate + 20% CAGR in 2021-2024) to outpace revenue (+estimate +17% CAGR from 2021-2024), they wrote.

“We expect LULU’s visionary management team (led by Calvin MacDonald), rich execution history, and consistency of strong results to continue to drive positive momentum,” they added.

At Nike, analysts set a target of $99 per share. He attributed the drop in Nike’s stock price to the negative impact of higher Nike stocks and the class, weakness in China from its own COVID policy, and general consumer concerns.

“NKE (mid-point) guidance indicates that it plans to get $7 billion+ more in revenue in fiscal year 23 versus the four pre-COVID quarters, but only 525 consumers,” the analysts wrote.

“Big picture, we see NKE in the middle of the rounds of a multi-year journey to transform into a direct-to-consumer model.”

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MicroStrategy is at its lowest level since 2020 after the sales were revealed

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(Bloomberg) — Shares of MicroStrategy touched their lowest level since August 2020 after the enterprise software company, which in recent years has been known as the largest buyer of bitcoin, revealed its first sale of the token.

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The stock fell 1.1 percent to $136.63 on Thursday, down 75 percent this year. Bitcoin rose less than 1% to around $16,590 and is believed to have fallen 64% since the start of the year.

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In a filing on Wednesday, MicroStrategy said it acquired approximately 2,395 Bitcoin between the beginning of November and December 21 through its subsidiary MacroStrategy, and paid out approximately $42.8 million in cash. It then sold 704 of the tokens on Dec. 22 for a total of about $11.8 million, citing tax purposes, before buying another 810 of them two days later.

Matt Malley, chief market strategist for Miller Tabak + Co. Step down as CEO. This news means they don’t seem to want to do that anytime soon.”

Overall, MicroStrategy held about 132,500 bitcoins worth over $4 billion USD as of December 27th. The company paid an average purchase price of $30,397 per bitcoin.

“Given MicroStrategy’s $2.4 billion in leverage, we believe the company may have a lot of leverage over Bitcoin, and may face some liquidity risk,” Jefferies analyst Brent Thiel wrote in a note on Wednesday. Thill has an “underperform” rating on the stock and a price target of $110.

Over the years of the pandemic, MicroStrategy has become well known for its Bitcoin takeovers, largely led by Saylor. Earlier this year, Saylor stepped down from that role and now serves as CEO at the company and continues to lead its bitcoin strategy.

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MicroStrategy was trading around $120 before Saylor first announced the company’s Bitcoin purchases in 2020. The stock reached an all-time high of $1,315 in February 2021.

(Updates to include the stock’s closing price in the second paragraph.)

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Bankman-Fried May File Petition in New York Federal Court Next Week Before Judge Louis Kaplan By Cointelegraph

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Former FTX CEO Sam Bankman-Fried is set to appear in court on the afternoon of January 3 to enter a lawsuit over two counts of wire fraud and six counts of conspiracy against him related to the collapse of cryptocurrency exchange FTX, according to Reuters. mentioned on December 28, citing court records. Bankman-Fried will appear before District Judge Lewis Kaplan in Manhattan.

Judge Kaplan was appointed to hear the case on December 27 after the original judge in the case, Ronnie Abrams, Resigned herself because of connections between FTX and the law firm Davis Polk & Wardwell, where her husband is a partner. The company provided advisory services to FTX in 2021.