Callaway Golf to CUT 12% of Workforce and 4 Must-See Hot Stocks
After activist investor MHR Fund Management hiked its stake in heavy engine and truck maker Navistar (NYSE:NAV) to 15 percent, Carl Icahn has followed suit, raising his investment in the company to 13.9 percent from 11.87 percent, filings with the SEC show. Reportedly, Fiat and Volkswagen are also considering investing in Navistar.
Investing Insights: Fastenal Earnings CHEAT SHEET: Double-Digit Growth AGAIN!
Callaway Golf (NYSE:ELY) is in the midst of a brand refocus that places emphasis on its core Callaway and Odyssey brands, clearing the path to a 12 percent cut in its workforce; the company expects a loss of $0.55 to $0.75 a share this year.
The SymphonyIRI Group says single cup coffee sales rose 85.3 percent over the last year compared to a growth of only 3.4 percent in the overall coffee category, with the single cup segment accounting almost 12.8 percent of total coffee sales. These are encouraging numbers for Green Mountain Coffee Roasters (NASDAQ:GMCR).
Industrial hardware stores retailer Fastenal (NASDAQ:FAST) reported second quarter earnings numbers that climbed 19 percent to $112.3 million (38 cents a share) compared to $94.1 million (32 cents a share) on revenues of $804.9 million that rose 15 percent. The company continued its emphasis on opening new stores, adding 53 and bringing its total tally to 2,635 stores as at end-June.
After the May closing of its Japanese stock loan desk, Goldman Sachs (NYSE:GS), Japan’s biggest prime broker, has curtailed its prime brokerage business by shifting a portion to Hong Kong, indicating its poor expectations of business prospects in Japan.