Price: $8.90, Change: $-0.03, Percent Change: -0.34%
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Costco Wholesale May Sales Show 'Steady Execution,' UBS Says
Costco Wholesale's (COST) sales results in May demonstrate "steady execution" amid concerns about higher energy costs, elevated interest rates and less benefit from tax refunds, UBS Securities said in a note emailed Thursday."At least for Costco, this isn't occurring," UBS said, referring to fears of a weakening consumer. "In fact, we'd argue its strong momentum indicates its value proposition is even more compelling in this type of environment."The warehouse retailer's investments in pricing on consumable items delivered a "healthy return" through accelerated comparable sales, UBS said.UBS maintained its buy rating and $1,275 price target on the stock.Price: $972.34, Change: $+10.51, Percent Change: +1.09%
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PVH's Turnaround Strategy Showing Early Traction, UBS Says
PVH's (PVH) is gaining momentum in its turnaround as direct-to-consumer channel growth accelerates and execution improves across key Calvin Klein and Tommy Hilfiger product categories, UBS said in a note Wednesday.The firm said the company's DTC growth rate turned positive for the first time since Q1 of 2024, adding that this is a leading indicator of broader business health and evidence that the PVH+ strategy is working.UBS pointed to strength in Calvin Klein underwear and denim and Tommy Hilfiger sweaters and outerwear, noting PVH is now seeing gains across full categories rather than isolated pockets.EMEA weakness remains a near-term headwind, the firm noted, though it said the underlying improvement in the business keeps its long-term outlook constructive.UBS maintained its buy rating on PVH with a $130 price target.Price: $76.30, Change: $-21.70, Percent Change: -22.14%
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Top Midday Gainers
Solidion Technology (STI) reported Thursday an extreme-climate battery platform targeting space operations, artificial intelligence data centers in low Earth orbit, and lunar infrastructure.Shares jumped over 300%, with intraday trading volume of over 92 million against a daily average of about 68,000.ChronoScale (CHRN) said Thursday it has appointed Raj Jegannathan as chief technology officer and Lawrence Lam as chief product officer to "accelerate" the company's global artificial intelligence infrastructure strategy.Shares climbed 17% following an increase in intraday trading volume to over 394,000 from a daily average of about 183,000.CXApp (CXAI) shares rose 79% after the firm overnight reported the acquisition of EngineRoom to triple revenue run-rate and accelerate commercialization of agentic AI SKY platform.Over 493.8 million shares traded intraday versus a daily average of roughly 16.1 million.Price: $20.75, Change: $+15.78, Percent Change: +317.51%
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