The escalating trade war between Washington and Beijing dominated discussions at the G-7 gathering in France.Politicsread more
The latest round of tariff announcements in the last few days means that by the end of the year, essentially all Chinese goods exported to the U.S. will be subject to duties.China Economyread more
Futures fell after Trump said the U.S. will raise tariffs on more than $500 billion worth of Chinese imports, increasing trade tensions.Marketsread more
Tensions stemming from the U.S.-China trade war escalated sharply over the last few days, with much happening as Asian markets were shut down for the weekend.China Economyread more
Clouding the G-7 gathering, which represents the world's major industrial economies, are the tit-for-tat tariffs between Washington and Beijing.Politicsread more
Neither the U.S. nor China wants to be seen as the party that derailed trade talks, says William Reinsch of Center for Strategic and International Studies.World Economyread more
China said Friday it will be resuming 25% duties on U.S. autos, and a further 5% on auto parts and components.Asia Marketsread more
World leaders, environmental groups and celebrities have publicly decried the vast swaths of forest being destroyed by the fires.World Newsread more
Education Minister Ong Ye Kung says the Singapore government has been preparing for the challenge of an aging workforce "for the past 20 years."Employmentread more
Megvii is known for its facial recognition technology and while revenue grew over 350% in 2018, its losses have widened.Technologyread more
Stocks in Asia fell Monday afternoon following an escalation in the U.S.-China trade war late last week.Asia Marketsread more
While retail stocks have been getting hammered, the market has given investors a opportunity to buy into Revolve Group at a discount, CNBC's Jim Cramer said Wednesday.
The share price of the online fashion retailer is more than half off its June high and trading under $23, its lowest point since going public earlier that month. The stock popped more than 45% in the week after its June 7 debut and the "Mad Money" host suggested waiting to pull the trigger on a pullback.
"These [kinds of] companies are part of the reason why Macy's is getting obliterated," he said. "They're ... disrupting what's left of the department stores, and it is working."
Revolve Group runs three web-based stores — ranging from the higher-end Forward, the high-end Revolve, and the low-end Superdown — that are tailored to millennial and younger shoppers. The shopping platform, which launched in 2003, has technology for automated inventory, pricing and trend forecasting, on top of good digital marketing, Cramer noted.
The stock dropped double digits on Friday after management delivered a revenue beat but earnings miss in its first public earnings report. Adjusted earnings came in at 18 cents per share, one penny shy of Wall Street expectations.
Despite coming up short, Cramer highlighted that Revolve had better-than-expected sales growth of 23%, on top of active customer growth of 36% to 1.3 million. Nearly 80% of its sales are made at full price, he added. Gross margins improved and total orders were up more than 30% in the quarter, he continued.
The stock plummeted another 14% on Wednesday to close at $22.10, but the "actual companies are in very good shape," the host said.
"I know the quarter wasn't perfect, but that's a pretty extreme reaction. ... I think Revolve sold off because the investor base was expecting too much," Cramer said. "There was plenty to like about this quarter if you cared enough to do the homework."
While Revolve sources about 40% of its products from China, the host is convinced that tariff issues have been baked into the stock price and that the company can pass costs on to their customers.
Revolve sees as much as 22% full-year growth. Of the nine analysts that cover the equity, five have issued a "Buy" call, including one "Hold" and one "Overweight," according to FactSet. They have an average price target of $41.75 on the stock.
"The long-awaited buying opportunity has arrived. Don't be afraid to take advantage of it," Cramer said. "Just remember, the market's so horrendous that you need to start small and stage your buys gradually on the way down, because there's no telling whether these two beaten-down stocks will bottom any time soon."