Levi Stock Sinks as Company Mulls Sale of Dockers Brand

47 minutes ago

Shares of Levi Strauss (LEVI) plunged in early trading Thursday after the jeans maker announced it may sell its Dockers brand as it delivered mixed third-quarter results.

While Levi’s adjusted earnings per share of 33 cents beat consensus estimates of analysts polled by Visible Alpha, its revenue of $1.52 billion came up short. Sales of Dockers were down 15% year-over-year, prompting executives to “evaluate strategic alternatives” for the unit.

For the full fiscal year, Levi’s said it expects total revenue to grow 1% compared to fiscal 2023, a more modest projection than the 1% to 3% growth it forecast when it reported its second quarter results.

Levi's also said it has "initiated a formal review of strategic alternatives for the Dockers brand," which could lead to the famous khaki brand being sold, though the review wasn't given a specific timeline.

The company's shares were down 7% in recent trading. The stock has gained 18% since the start of the year.

–Aaron McDade

Nvidia CEO Points to 'Insane' Demand for AI Chips

2 hr 47 min ago

Nvidia (NVDA) shares were up 2% in premarket trading Thursday after CEO Jensen Huang said during a CNBC interview late yesterday that demand for the company’s next generation Blackwell AI chips is “insane.” 

The stock has oscillated within a symmetrical triangle, a chart pattern that indicates a period of consolidation, typically followed by a new trending move in the direction of a breakout and longer-term trend, which in Nvidia’s case, signals further bullish price momentum.

The measuring principle and bars pattern technique forecasts upside targets on Nvidia's chart at $180 and $210, respectively.

A breakdown below the symmetrical triangle would likely see the shares find support around $97, near a trendline linking the twin March peaks with the upward sloping 200-day moving average.

Read our full technical analysis piece here.

–Timothy Smith

Futures Pointing to Lower Open for Major Indexes

3 hr 28 min ago

Futures tied to the Dow Jones Industrial Average were down 0.2%.

S&P 500 futures were down 0.1%.

Nasdaq 100 futures were down 0.2%.

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