$VSXY

Victoria's Secret Re-elects Independent Chair Donna James, All Directors

Victoria's Secret (VSXY) said Thursday its shareholders have re-elected all of the company's nominated directors, including independent Chair Donna James, based on preliminary voting results from its annual general meeting.Preliminary results indicate that James received over 99% of the votes cast, excluding those cast by BBRC International, which had waged a proxy contest against the re-election, the company said.Including the votes cast by BBRC, James was re-elected with over 83% approval, while each of the other director nominees received at least 81% of all votes cast, Victoria's Secret said.Shares of Victoria's Secret were up 1.4% in early Thursday trading.Price: $75.30, Change: $+1.06, Percent Change: +1.43%

Victoria's Secret Has Limited Upside as Turnaround Thesis Has Played Out, UBS Says

Victoria's Secret (VSXY) is expected to see limited upside as its turnaround thesis has played out, UBS said in a Wednesday note.The company has posted strong comparable-store sales for four straight quarters, driven by its business initiatives, and with Q1 accelerating to 13%, the positive trend is seen continuing, UBS analysts said. They said they believe that the market has already aligned with their projected ongoing margin expansion from strong sales growth and fixed cost leverage.The analysts said they expect EPS to compound at around 14% annually over the four years after fiscal 2026, but the stock's valuation is in the high end of US specialty retailers at 15x of their estimated fiscal 2027 EPS.The company's stock has surged 47.4% following Q1 results, and the analysts said they see limited upside to their new price target of $90. Victoria's Secret currently has a balanced risk-reward profile, according to the note.UBS downgraded the company's stock rating to neutral from buy and adjusted the price target to $90 from $81.Price: $74.04, Change: $-6.03, Percent Change: -7.53%

BofA Securities Adjusts Price Target on Victoria's Secret & Co. to $95 From $68, Maintains Buy Rating

Victoria's Secret (VSXY) has an average rating of overweight and mean price target of $84.11, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $72.90, Change: $-7.16, Percent Change: -8.94%

Jefferies Downgrades Victoria's Secret & Co. to Hold From Buy, Adjusts PT to $73 From $65

UBS Downgrades Victoria's Secret & Co. to Neutral From Buy, Adjusts PT to $90 From $81

Sector Update: Consumer Stocks Decline Late Afternoon

Consumer stocks were lower late Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.1% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.6%.Redbook US same-store sales rose by 9% from a year earlier in the week ended May 30, the same pace as in the previous week.In corporate news, Uber (UBER) has placed usage caps on some AI-powered coding tools used by its staff to control costs after the company exceeded its AI budget earlier this year, Bloomberg reported. Uber shares were down 3.2%.Dollar General (DG) raised its full-year earnings outlook on Tuesday, while the discount retailer's fiscal Q1 bottom line topped estimates but revenue missed expectations. Its shares fell 3.5%.Victoria's Secret (VSXY) shares soared 47% after the lingerie retailer raised its full-year sales and earnings guidance.Signet Jewelers (SIG) raised its full-year guidance on Tuesday after posting fiscal Q1 results that topped Wall Street expectations, citing stronger holiday performance and early second-quarter momentum. Its shares rose 4%.

Top Midday Gainers

Marvell Technology (MRVL) shares rose 29% after multiple news outlets reported Nvidia (NVDA) Chief Executive Officer Jensen Huang called the chipmaker the next "trillion-dollar company."More than 76.2 million shares traded intraday, compared with a daily average of about 27.6 million.Hewlett Packard Enterprise (HPE) reported fiscal Q2 earnings ahead of analysts' forecasts late Monday.Shares jumped 16%, with intraday trading volume rising to over 115.4 million from a daily average of roughly 20.2 million.Victoria's Secret (VSXY) raised its full-year sales and earnings guidance. The shares began trading under the ticker "VSXY" on the New York Stock Exchange on Tuesday. It previously traded under "VSCO".Shares soared 48%, with over 6 million shares traded.Price: $283.35, Change: $+63.92, Percent Change: +29.13%

Sector Update: Consumer Stocks Decline Tuesday Afternoon

Consumer stocks were lower Tuesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.5%.Redbook US same-store sales rose by 9% from a year earlier in the week ended May 30, the same pace as in the previous week.In corporate news, Dollar General (DG) raised its full-year earnings outlook on Tuesday, while the discount retailer's fiscal Q1 bottom line topped estimates but revenue missed expectations. Its shares were down 1.5%.Victoria's Secret (VSXY) shares soared 46% after the lingerie retailer raised its full-year sales and earnings guidance.Signet Jewelers (SIG) raised its full-year guidance on Tuesday after posting fiscal Q1 results that topped Wall Street expectations, citing stronger holiday performance and early second-quarter momentum. Its shares rose 2.9%.