High-Income Shoppers Flock to Walmart & Jersey Mike’s $8B Bet to Take On Subway
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Good morning, Brew Daily Show. I'm Neil Freiman. And I'm Toby Howell. Today, Jaguar hits the reset button with a completely new identity, but can it save the iconic carmaker from obscurity?
Then, Jersey Mike's just got bought out by private equity, and I hope Danny DeVito gets his bag. It's Wednesday, November 20th. Let's ride.
Breaking news out of the music world. There is a new record holder for the fastest song to reach one billion streams on Spotify. The soaring retro duet Die With a Smile by Bruno Mars and Lady Gaga reached the mark after just 96 days. Toby, how many of those have you accounted for?
Neil, I might be losing my fastball. I might have to hang up the mic because I have never in my life heard that song even for a second. You know what's worse? I have never even heard the second fastest song to reach a billion streams either. That is Seven by Jungkook and Lotto. But then finally, Three, Four, and Five are Flowers by Miley Cyrus, Espresso by Sabrina Carpenter, and Stay by Kid LAROI. But I apologize to Bruno and to Lady Gaga because I have just been sleeping on your game. this song the song is incredible i know you just listened to 10 seconds just to see if you had heard it and you were like nope nothing but definitely listen to it you're gonna listen non-stop like i have it's a really really good song now a word from our sponsor yahoo finance neil did i ever tell you the story of the first stock i ever bought for as much as we hang out surprised it never came up it was sherwin williams the paint company it was winter at the time and i thought that buying a paint company before it was time for spring renovations was a good idea
Okay, I follow the logic.
The only issue was, I was a bit of a stock market newbie, so instead of buying 10 shares, I fat-fingered it and bought 100 shares at the time that translated to about $40,000. I did not have $40,000 to invest, Neil. Wait, so you bought it on margins? Somehow I bought it on margin and immediately got a notification from my brokerage saying like, hey, you do not have the funds for this. I don't know. It was all a little bit murky and I panic sold most of it right away. But the moral of the story is the place to mess around and test new ideas is on Yahoo Finance, not in your brokerage account. Yahoo Finance has real-time market data so you can construct a portfolio and a watch list without putting real money on the line. Much more responsible than college Toby.
To avoid mistakes like Tobi's, head to yahoofinance.com to play around with their portfolio feature. That's yahoofinance.com. America just had a divisive election, but if there's one thing that unites everyone in our country, it's that we buy stuff from Walmart. Yesterday, the United States' biggest retailer announced a mammoth third quarter and raised its guidance for Q4, the key holiday shopping season. Shares gained about 3% to hit a new all-time high. They're up more than 63% this year compared to the S&P 500's 25% gain. What's working? Everything. U.S. comparable sales grew 5.3%, crushing expectations of 3.7%. In e-commerce, Walmart is looking like the spitting image of Amazon, with online sales up 22%. E-commerce now accounts for 18% of Walmart's total sales.
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