Coty appoints P&G veteran as interim CEO amid leadership changes
Coty has appointed a veteran from Procter & Gamble as its new executive chair as part of a leadership restructuring.
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"Cramer's Lightning Round: Top Picks for Enterprise Software, SoFi, and Carrier Global"
Jim Cramer recommends buying Confluent in scale despite its lack of profitability, praising it as having some of the best enterprise software in the world. He also acknowledges Coty's comeback and approves of investing in the company. Samsara, another enterprise software company, is considered expensive but still highly regarded. However, Cramer warns against investing in Chewy due to competition from Amazon.
"Instacart's Impressive Market Moves Dominate Headlines Alongside Disney and Bausch Health"
Dollar General shares fell after being downgraded by JPMorgan due to inflationary pressures and dwindling savings. Pinterest shares climbed after the company's investor day, where management expressed optimism about accelerating revenue growth. General Mills rose after reporting better-than-expected fiscal first-quarter results. Instacart shares dropped after its stock market debut, while Coty gained after raising its full-year outlook. Bausch Health also saw a boost in its stock price after an upgrade from Jefferies. Goldman Sachs plans to sell lending platform Greensky as part of its consumer lending pullback.
Pinterest Soars on Revenue Growth Forecasts, Instacart and Coty Also See Significant Stock Movement
Stock futures edged higher as investors awaited the second day of the Fed's policy meeting. Bausch Health saw a 6% increase after an upgrade from Jefferies, while Pinterest's stock rose over 5% following positive sentiment from Wall Street firms. Coty shares also climbed more than 5% after the company upgraded its forecasts. On the downside, Instacart's stock dropped over 5% after a volatile debut, and ARS Pharmaceuticals shares plummeted over 50% as the FDA declined to approve its nasal spray treatment.
business2 years ago
Kim Kardashian Negotiating to Reclaim Stake in Beauty Business from Coty
Kim Kardashian is reportedly in talks to repurchase a stake in her beauty business from Coty Inc., the multinational beauty company that acquired a majority stake in her brand last year. The discussions come as Coty looks to streamline its portfolio and focus on its core brands. If successful, the buyback would allow Kardashian to regain control over her beauty empire.