• Everlane is private but having a big impact on retail.
  • Company espouses ethical sourcing, materials that last and a transparency supply chain.
  • Clearly right in the millennial wheelhouse.
  • A model other retailers will copy.
CNBC, September 5, 2019
  • CEO confirms strong outlook.  Stock up 5.8%.
  • Company will continue to be acquisitive, but recognizing need to integrate in PAWN platform to limit the number vendors customers must manage.
  • Mnuchin delivering one of the more clear messages from the administration on actions to support the economy and the capital markets.
  • He says negotiation with democrats is progressing on a bill that would cut the payroll tax, delaying IRS payments and other measures to support small and mid size businesses. He also confirmed support of hardest hit industries, e.g. airlines.
  • He confirmed that the Fed stands ready to provide market liquidity, and he highly discounted views that the markets as markets have been operating in an orderly manner.
  • He views the current crisis as a "short-term issue that will take a couple months to resolve.
  • Culp talks about dealing with the coronovirus.  Sees some free cash flow impact in the $3 billion to $5 billion impact.
  • Is this an inflection year for your power business?  Expects over time to drive better margins and cash flow which will be seen in years to come.
  • On the aviation jet engine business and the impact of 737-Max. Same view as Boeing being a mid-year return to service.
  • Gross margins are sector low.  Says the refresh of product portfolio in aviation and power and better cost controls in factories and at corporate levels will push margins and free cash to peer levels.  He also talked about continued deleverage of the balance sheet. Said a lot of the progress has not yet shown up in financials and in 2nd inning of turnaround.
  • As GE is a big complex company, as such we found Culp's comments very big picture.
CNBC, September 9,2019 Dick Costolo, former Twitter CEO, and Jeff Richards, GGV Capital, join "Fast Money Halftime Report" in San Francisco to discuss the state of tech investing.
  • Scott Wapner in SF today interviewing a number of in the flow people.  Good stuff.
  • Costello and Richards say despite some of the negative flow on big consumer stocks/private companies (Uber, Lyft, WeWork,etc), numerous great enterprise software company post IPO performance (cited Twilio) and private companies still coming.
  • Costello also comments doesn't understand what some people see in some of the companies coming out and generally many consumer companies have not proven that the unit economics work.
  • Second year Deere has been at CES.
  • CEO highlighting importance of technology driving productivity of farm equipment including use of guidance, telematics and data management, all necessary for "precision farming"
  • Next tech drivers will be use of artificial intelligence and machine learning to further improve productivity.
  • He did mention macro concerns have had an impact on farmer capital commitments, but the company takes a long term view of its markets and the company will focus on improving the productivity of its customers.
  • Stock up 1.2% today and approximately flat the past year, although up about 27% since May.
2/27/2020
  • Company reported a strong 4Q and guided 2020 up.
  • Company seems to be also benefiting as a "stay at home" stock in the coronavirus environment.
  • CEO says not concerned with supply side disruptions.
  • Television advertising is working as it taps peoples creative sides.
  • Stock was up 14% on Thursday.
  • The company lowered 1Q rev forecast saying that traffic was actually very strong through most of February, then last week CEO Kelly said there was a significant drop due to coronavirus showing up in the US.  He said that the hit could be "several hundred million dollars".
  • The company is not cutting capacity at this point, but obviously evaluating.
  • He says it is "encouraging" to look to China where the number of new cases is declining.
  • Stock is down 3.9% today and down about 25% since mid February.
  • One of the best market commentaries we saw this morning came from Kyle Bass commenting "that this too will pass".
  • He said he is not buying or selling, but there will be big opportunities on the other side of this, which he thinks will take another month to sort out as the virus begins to fade from warm summer weather and prevention actions, which need to be intensified.
  • He also said company's balance sheets really matter to ensure they can get to the other side.
  • He said this is not 2008 as the US banks are not going broke as they are stressed tested and in good shape.  This is not the same in Europe and parts of Asia where bank capital has not been modified enough since 2008.  He expects ECB action will be necessary for Italy.
  • Gerstner responds to "frothy" comment from Costello regarding tech company valuations.  He disagrees.