LVMH Smashes Another European Record

Luxury goods giant LVMH is the first European company to surpass $500 billion in market value. 💰

The parent company’s brands include Louis Vuitton, Moet & Chandon, Hennessy, Givenchy, Bulgari, and Sephora. And its 17% rise in first-quarter sales more than doubled analyst estimates. That, plus a profit from recurring operations of 21.1 billion euros, marked its second consecutive year of record results. 📈

As for the driver? Higher-income consumers continue to spend despite uncertainty in the economy. Additionally, China’s Covid reopening fueled a rebound in travel by high-end spenders.

The results send $LVMUY shares to fresh all-time highs, further boosting CEO Bernard Arnault’s net worth (currently the world’s richest person). 🤑

This begs the question, if LVMH is the first to pass $500 billion, what else is on the list? You can find a complete list here, but below are the top 10. 👇

Buffett Bullish On Homebuilders

It’s 13F and 13D filing season, which means that individual investors are looking closely at what portfolio changes institutional investors made last quarter. 🕵️

One of the biggest names people follow is Warren Buffett’s Berkshire Hathaway. And while you can view all of the financial giant’s holdings here, today, we will look at its recent purchases in the homebuilding sector. 🏘️

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Walgreens Boots Its CEO

It’s been a rough ride for pharmacy retailer Walgreens Boots Alliance shareholders, with shares peaking in 2016 and not looking back! 📉

Unfortunately, the pain continued today as the company booted (sorry, mutually agreed) to part ways with CEO Roz Brewer after about three years. The company is replacing the retail veteran as it looks to transition more into a healthcare company instead of a retail drug store. She also left the company’s Board of Directors.

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Pharmacies Fall Ill As Insurer Picks Amazon

It has been a rough year for retail pharmacy chains CVS and Walgreens, with their stocks falling sharply while much of the market rallied. And that weakness is continuing today on fears that Amazon is getting ready to eat even more of their lunch. 😨

That’s because Blue Shield of California decided to drop the company’s pharmacy benefit management services. Instead, they’re partnering with Mark Cuban’s Cost Plus Drug Company and Amazon Pharmacy, potentially delivering major savings for its roughly 5 million members. 🤝

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Pepsi Eyes Beverage Growth

Seemingly everyone from global conglomerates to content creators is getting in on the beverage space. That’s because beverage products tend to have much higher margins than food products. And if you can market your way through the competitive space, you can make a pretty penny. 🧃

If you need evidence of that, just look at one of the best-performing stocks in the market, Monster Beverage. Since going public about thirty years ago, it has returned nearly 270,000%. It’s almost as if its stock price drank a lot of monster energy. 🤩

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