Warner Bros. Discovery In Talks for More Streaming Bundles

/ / Consumer Discretionary /

Warner Bros. Discovery is talking with potential partners about new streaming bundles. JB Perrette, CEO of global streaming and games, says at the Morgan Stanley Technology, Media & Telecom Conference that the company is “in conversation with others” about making a similar offering to its bundle with Verizon and Netflix. Warner Bros. Discovery executives have previously hinted at a big role for streaming bundles in the future, potentially with intermediaries such as Roku or directly with other services. “We think there’s more opportunity, particularly in that lower-priced SKU, to drive penetration, Perrette says.

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Ross Stores Better-Than-Expected Fiscal Q4 Due to Topline, GM Outperformance, Morgan Stanley Says

/ / Consumer Discretionary /

Ross Stores (ROST) better-than-expected fiscal Q4 earnings were due to topline and GM outperformance, Morgan Stanley said in a note to clients Wednesday. The EPS beat was partially offset by rising selling, general and administrative costs, however, the report added. Highlights of the quarter included underlying sales growth, current apparel category underperformance, fiscal Q4 GM reaching the highest level since 2017, and reducing the gap to its pre-Covid profitability levels, the report said. The off-price apparel and home fashion chain reported fiscal Q4 earnings late Tuesday of $1.82 per diluted share and sales of $6.02 billion for the quarter ended Feb. 3. Morgan Stanley raised Ross Stores’ price target to $161 from $155 and maintained its overweight rating on the stock.

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CFRA Retains Hold Opinion On Shares Of The Estee Lauder Companies Inc.

/ / Consumer Discretionary /

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: Shares are ~3% lower in intraday trading on reports of Valisure’s, an independent U.S. laboratory, findings during testing of acne treatment products containing Benzoyl Peroxide (BPO). Valisure found BPO acne products are fundamentally unstable and can generate unacceptably high levels of Benzene, a known carcinogenic, when stored or exposed to higher temperatures by consumer handling. Benzene was found to potentially escape into the surrounding air at approximately 1,270 times the EPA’s calculated threshold for increased cancer risk, when measured in a compact car at 70 degrees Celsius. Clinique, one of EL’s leading brands, was highlighted as having BPO products. Visiting Clinique’s website we found 1/10 acne products listed BPO as an ingredient. This BPO acne product is not listed as a top-seller for Clinique across various e-commerce

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