The White House has threatened to slap tariffs on apparel and footwear, leading retailers to speak out about how this would hurt business.Retailread more
"We are now embarking on a new Long March, and we must start all over again!" Xi Jinping said.Marketsread more
While investing often seems like a contrarian game where going against the flow feels like the better bet, the reality is that investors who bought the most-favored stocks...Hedge Fundsread more
Comcast is working on a device to monitor people's health at home, as well as some media and communications services, according to people familiar with the plans.Technologyread more
Stock pickers are having their best year in a decade, according to Bank of America Merrill Lynch.Marketsread more
Craig Irwin of Roth Capital Partners said Apple tried to buy Tesla six years ago for a higher price than where the stock now trades.Technologyread more
CNBC's Jim Cramer says Morgan Stanley cutting its worst-case forecast on Tesla so drastically from $97 per share appears to be a gimmick.Investingread more
Connecticut state Sen. Alex Bergstein's divorce case with her husband, Morgan Stanley managing director Seth Bergstein, has exposed her new romantic relationship with her...Politicsread more
U.S. aviation officials believe a bird strike may have led to the deadly crash of an Ethiopian Airlines Boeing 737 Max in March, according to a person familiar with the...Aerospace & Defenseread more
The escalating trade war between China and the U.S. could increase pressure on the overall economy, according to Boston Fed President Eric Rosengren.The Fedread more
May outlined her new Brexit proposals which are being voted on by politicians next month.Europe Marketsread more
Wall Street isn't giving Amazon enough credit for its private label venture, which should grow to $25 billion in revenue by 2022, according to SunTrust Robinson Humphrey.
The flourishing private label business should be strong enough to help push the company's share price up more than 21 percent over the next 12 months, according to analyst Youssef Squali.
"As strong an e-commerce platform as Amazon has become over the last 20 years, we believe that the best has yet to come," Squali said in a note to clients Monday. "Private label is one of the highly under appreciated trends within Amazon, in our view, which over time should give the company a strong 'unfair' competitive advantage. 'Unfair' because it'll be very difficult to dislodge the company once it attains it; fair because it's earned, not bestowed."
The analyst increased his price target to $2,000 a share from $1,900, encouraging clients to buy the stock ahead of the expected growth.
Amazon's stock is up 42 percent this year, well ahead of the S&P 500's 2.7 percent climb. Shares rallied 1.45 percent Monday after the bullish note to clinch a closing high of $1,665.27.
Over the past few years, Amazon has been nurturing its private label offerings across a slew of product categories, including electronics, everyday use, apparel, home security and grocery with its acquisition of Whole Foods Market.
But it's also found success in selling casual clothing items, while brands like Nike and Calvin Klein are helping bolster its platform with popular merchandise.
Though small compared with some of the more established areas of Amazon's portfolio, the private label sales should generate $7.5 billion on Amazon's online marketplace in 2018, up 108 percent from SunTrust's previously published 2017 estimate of $3.6 billion, Squali said.
"According to Coresight Research, Amazon's private label brands are the fourth most bought clothing or footwear 'brand' on Amazon.com, with only Nike, Under Armour and Hanes ranking higher," he wrote. "We have chronicled roughly 70 private label launches/acquisitions over the past year alone, for a total of 100 or more currently. ... We believe Amazon is positioning itself within select categories including Electronics, Food, Apparel, all of which share a number of similarities including a very large total available market."