Otis Worldwide Corp
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Industrials : Machinery | Mid Cap Blend
Company profile

Otis Worldwide Corporation is an elevator and escalator manufacturing, installation and service company. The Company operates through two segments: New Equipment and Service. Through its New Equipment segment, it designs, manufactures, sells and installs a range of passenger and freight elevators, as well as escalators and moving walkways to customers in the residential and commercial buildings, and infrastructure projects. The Company sells its New Equipment units directly to customers, as well as through agents and distributors globally. Through its Service segment, the Company performs maintenance and repair services for both its products and those of other manufacturers and provides services to upgrade elevators and escalators. It provides Otis ONE, an Internet of Things (IoT) based solution to connect elevators to OtisLine. Otis also offers a range of passenger experience enhancements such as eView and Otis eCall.

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Cowen highlights Macy's, Walmart and Ultra Beauty as top Black Friday holiday stocks

10:12 am ET November 25, 2022 (MarketWatch)

Cowen said Friday that Macy's , Walmart Inc. and Ulta Beauty Inc. rank as its top Black Friday holiday stocks. "We believe each will benefit from product diversification, trend right execution, gifting assortments at competitive prices and value positioning," Cowen analyst Oliver Chen said in a research note. Concerns for the season include lack of newness, excess inventory and pressured low-end consumers, Chen said. "Cowen believes shoppers will look for deeper discounts and shop later as inflation removes discretionary dollars and an extra shopping day allows for procrastination," Chen said. Cowen is currently forecasting a 5% to 7% holiday sales increase, down from a 13.5% increase in 2021. The SPDR S&P Retail ETF is down 26.3% in 2022 compared to a 15.5% loss by the S&P 500 .

-Steve Gelsi


(END) Dow Jones Newswires

November 25, 2022 10:12 ET (15:12 GMT)

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