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LEVI - Levi Strauss & Co News Story

$12.5 0.4  3.6%

Last Trade - 07/08/20

Sector
Consumer Cyclicals
Size
Large Cap
Market Cap £3.80bn
Enterprise Value £4.01bn
Revenue £3.85bn
Position in Universe 1139th / 6395

Reuters Insider - U.S. Week Ahead: Services sector update plus Walgreens results

Thu 2nd July, 2020 10:30pm
Click the following link to watch video: https://share.insider.thomsonreuters.com/link?entryId=1_ugq2ye0k&referenceId=1_ugq2ye0k&pageId=ReutersNews
Source: Reuters Insider

Description: A report on the services sector is expected to show improvement
in June. Plus, Dow component Walgreens Boots releases quarterly results.
Short Link: https://refini.tv/31FfSiQ

Video Transcript:

Hi, everybody. Welcome to your Week Ahead, I am Leah Duncan. A much stronger
than expected June jobs report gave stocks a boost on the final trading day of
the week. Markets are closed Friday in celebration of Independent Day. For the
four-day period, the NASDAQ rose almost 5% after hitting a new all-time high
on Thursday. The S&P added 4%, while the Dow rose a bit more than 3%. Several
economic reports out over the next week could determine where stocks go from
here. But first up, Levi-Strauss reports after the closing bell on Tuesday.
Analysts are looking for a decline in sales of the jeans maker because of
COVID-19-related store closures, along with a net loss. We will see what it
has to say about its global business, especially the performance of stores in
Asia which reopened earlier in the year. The stock has fallen 30% in 2020.
Next, we hear from Walgreens Boots before the opening bell on Thursday. Last
month, broker Mizuho cut its earnings outlook for the company over the next
three years because of the expected large drop in retail business to due to
the pandemic. It also wonders if consumers have permanently switched to mail
order pharmacies during the lockdowns. Shares of the Dow component have
dropped about 30% this year. And forecasters predict the services sector
improves in June as measured by the ISM non-manufacturing index. The estimate
for the report out on Monday is below 50, which would mean it is still
contracting. Weekly jobless claims meanwhile or seen falling slightly, but
coming in well north of 1 million again. Well, that is your Week Ahead. I'm
Leah Duncan and this is Reuters
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