Movado Group Inc
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Consumer Discretionary : Textiles, Apparel & Luxury Goods | Small Cap Blend
Company profile

Movado Group, Inc. designs, sources, markets, and distributes watches globally. The Company operates through two segments: Watch and Accessory Brands and Company Stores. The Watch and Accessory Brands segment includes the designing, manufacturing, and distribution of watches and, to a lesser extent, jewellery and other accessories, of owned and licensed brands, in addition to after-sales service activities and shipping. The Company Stores segment includes the Company's physical retail outlet locations in the United States and Canada. Its portfolio of watch brands consists of owned brands, such as MOVADO, CONCORD, EBEL, OLIVIA BURTON and MVMT as well as licensed brands, such as COACH, TOMMY HILFIGER, HUGO BOSS, LACOSTE, CALVIN KLEIN and SCUDERIA FERRARI. It also designs, sources, markets, and distributes jewellery and other accessories under certain of its brands. The Company divides its business into two geographic locations, such as the United States and the International operations.


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Netflix stock bounces off 22-month low after Pershing Square hedge fund buys shares

9:02 am ET January 27, 2022 (MarketWatch)

Shares of Netflix Inc. (NFLX) bounced 4.8% in premarket trading Thursday, off a 22-month closing low in the previous session, after Bill Ackman said his Pershing Square Capital Management hedge fund bought 3.1 million of the streaming video services company's shares "beginning on Friday and over the past several days." Based on Wednesday's closing price of $359.70, which was the lowest since March 27, 2020, the shares purchased would be valued at about $1.12 billion, or about 0.7% of Netflix's market capitalization of $159.33 billion. Ackman's announcement comes after the stock had plunged 30.3% amid a five-day losing streak, highlighted by the 21.8% selloff on Friday after a disappointing fourth-quarter report and outlook. Pershing Square didn't own any Netflix shares at the end of the third quarter, according to the latest 13F filing. The stock has tumbled 45.7% over the past three months through Wednesday, while the S&P 500 has slipped 4.4%.

-Tomi Kilgore


(END) Dow Jones Newswires

January 27, 2022 09:02 ET (14:02 GMT)

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