Metals Australia (MLS:AU) has announced Manindi Ti-V-Fe Discovery Delivers High-Grade Concentrates
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Dick’s Sporting Goods is buying the struggling footwear chain Foot Locker for about $2.4 billion, the second buyout of a major footwear company in as many weeks as business leaders struggle with uncertainty over President Donald Trump’s tariffs.
Dick’s said Thursday that it expects to run Foot Locker as a standalone unit and keep the Foot Locker brands, which include Kids Foot Locker, Champs Sports, WSS and Japanese sneaker brand atmos.
“Sports and sports culture continue to be incredibly powerful, and with this acquisition, we’ll create a new global platform that serves those ever evolving needs through iconic concepts consumers know and love, enhanced store designs and omnichannel experiences, as well as a product mix that appeals to our different customer bases,” Dick’s CEO Lauren Hobart said in a statement.
Both companies are led by women. Hobart became CEO at Dick’s in 2021, while Mary Dillon has served as CEO of Foot Locker since 2022.
Foot Locker announced a turnaround plan in 2023 in part to help improve its relationship with big brands. Speaking at the J.P. Morgan Retail Round Up Conference last month, Dillon said that Foot Locker is working closely with Nike, specifically in categories including basketball, sneaker culture and kids.
Earlier this month, Skechers announced that it was being taken private by the investment firm by 3G Capital in a transaction worth more than $9 billion.
The retail industry has been growing increasingly concerned over Trump’s trade war with other countries, particularly China. Athletic shoe makers have invested heavily in production in Asia.
Shares of sporting goods and athletic shoe companies have been under pressure all year. Foot Locker’s stock has plunged 41% this year. It is also facing pressure elsewhere, with major athletic companies like Nike and Adidas shifting their sales strategies.
Skechers had fallen almost 8% this year.
About 97% of the clothes and shoes purchased in the U.S. are imported, predominantly from Asia, according to the American Apparel & Footwear Association. Using factories overseas has kept labor costs down for U.S. companies, but neither they nor their overseas suppliers are likely to absorb price increases due to new tariffs.
Foot Locker, based in New York City, offers Dick’s a lot of potential, namely its huge real estate footprint, and would give the Pittsburgh company its first foothold overseas.
Foot Locker has about 2,400 retail stores across 20 countries in North America, Europe, Asia, Australia and New Zealand. It also has a licensed store presence in Europe, the Middle East and Asia. The company had global sales of $8 billion last year.
Jefferies analyst Jonathan Matuszewski said that about 33% of Foot Locker’s sales come from outside the United States. He anticipates that the combined company would generate approximately 12% of sales internationally on a pro forma basis.
The deal also broadens Dick’s customer base, with sneaker collectors anxiously anticipating new drops from Foot Locker.
Neil Saunders, managing director of GlobalData, said in an emailed statement that Foot Locker, which has a 4.3% share of the sporting goods market, would give an immediate boost to Dick’s.
“It would also give Dick’s substantially more bargaining power with national brands, especially in the sneaker space,” he added.
Foot Locker shareholders can choose to receive either $24 in cash or 0.1168 shares of Dick’s common stock for each Foot Locker share that they own.
Dick’s said that it anticipates closing on the Foot Locker deal in the second half of the year. The transaction still needs approval from Foot Locker shareholders.
Dick’s stock dropped more than 10% before the market open, while shares of Foot Locker surged more than 82%.
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Netflix said Wednesday its cheaper, ad-supported tier now has 94 million monthly active users — an increase of more than 20 million since its last public tally in November.
The company and its peers have been increasingly leaning on advertising to boost the profitability of their streaming products. Netflix first introduced the ad-supported plan in November 2022.
Netflix’s ad-supported plan costs $7.99 per month, a steep discount from its least-expensive ad-free plan, at $17.99 per month.
“When you compare us to our competitors, attention starts higher and ends much higher,” Netflix president of advertising Amy Reinhard said in a statement. “Even more impressive, members pay as much attention to mid-roll ads as they do to the shows and movies themselves.”
Netflix also said its cheapest tier reaches more 18- to 34-year-olds than any U.S. broadcast or cable network.
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Bombas founder David Heath is stepping down from his role as CEO as the socks and apparel company looks to expand beyond its direct-to-consumer roots.
Bombas President Jason LaRose, a former Under Armour and Equinox executive, will take over as the company’s next CEO effective Thursday. Heath said he realized it was necessary for a retail veteran to lead the company through its next phase of growth.
“We’ve reached a size and scale that is beyond my expertise. I didn’t come from a big apparel company before … I found myself more so over the last 18 months saying, ‘I don’t know what to do next,’” Heath, who is staying at Bombas as its executive chair, told CNBC in an interview. “So then, when I looked at someone with Jason’s background … having that tried and true experience is what will set Bombas up to succeed for the next chapter and I think I feel more comfortable having someone with Jason’s experience in the driver’s seat.”
LaRose, who spent six years at Under Armour and oversaw its North America business, takes the helm at a critical point in Bombas’ growth story.
Bombas’ revenue has grown 22% in its current fiscal year through April, it’s reached more than $2 billion in lifetime sales and its EBITDA is at a “super healthy, double digit” margin, LaRose told CNBC. The company’s footwear segment, such as its ultra-popular Sunday Slipper, is expanding the fastest. The company expects footwear revenue will soar more than 70% this year, but socks are still growing steadily, with sales up 17% in April compared to the prior year.
But in order to reach its goal of growing from a “Shark Tank” startup into a multibillion dollar company over the next five-to-10 years, Bombas needs to expand its wholesale presence. Retailers that primarily sell online like Bombas tend to reach a growth ceiling and need to turn to other channels to keep scaling profitably.
Under LaRose’s direction, Bombas is looking to grow its wholesale revenue from around 7% of sales to between 10% and 20%. The company also wants to test out physical stores.
“More than 60% of socks in this country are sold in physical locations, you know, whether that’s stores we could open, or stores that we fill with our partners … the wholesale opportunity is big for us,” said LaRose. “It’s also a billboard for us, right? It’s a chance to tell our story. When the customer walks by, we have a chance to tell them about the mission every time, why we’re here, let them touch and feel the product, which is always important when you’re introducing somebody to a new apparel brand.”
Bombas currently sells in Nordstrom, Scheels and Dick’s Sporting Goods, and unlike some of its peers, it isn’t considering Amazon as a wholesale channel. Instead, it’s looking to expand its assortment offered by its current partners, try out its own stores and perhaps bring on some new wholesalers — if they’re the right fit.
Digitally native brands that have long enjoyed the benefits of a direct model, such as customer data and the ability to stay close to customers, are often wary about expanding too deeply into wholesale because it’s less profitable and it’s harder for brands to tell their stories. For a company like Bombas, which spent years developing what it calls the “most comfortable socks, underwear, and T-shirts” on the market, that storytelling is extremely important — especially at a price point of around $15 per pair of socks.
However, it’s that very attitude that has led some to criticize the direct selling model because of how it can stymie growth and lead to unsustainable business models. Many of the early direct-to-consumer darlings have seen their valuations shrivel up as they chase profitability years after they were founded. E-commerce has become harder to do profitably, and at a certain point, stores and wholesale are a more effective and profitable customer acquisition tool for some companies than marketing online. Selling goods through wholesale channels allows brands to scale and acquire customers more profitably than just selling online.
Brands like Bombas that were early to move to wholesale — Heath joked that the company “focused on profitability before it was cool” — understand the need for expansion but have looked to be strategic about who they partner with. Growth is important, but so is maintaining a brand, which is critical to staying ahead of rivals.
“As a DTC brand, we care so much about our brand and our story, it has to be somebody who’s going to do an excellent job taking care of our brand. We’re not out there to be out there,” said LaRose. “We’re looking at some other partners. We’ll continue to always look for people who we think strategically give us access to the right customer, you know, nothing to announce yet on that front, but we’ll keep looking.”
Disclosure: CNBC owns the exclusive off-network cable rights to “Shark Tank.”
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Reddit co-founder Alexis Ohanian has purchased a minority stake in Chelsea FC Women, giving him an ownership stake in two of the most-valuable teams in women’s sports.
The founder of venture capital firm Seven Seven Six and husband of tennis legend Serena Williams paid 20 million pounds for a 10% stake in the English soccer team, according to a person familiar with the deal. Ohanian is also a part owner in the National Women’s Soccer League’s Angel City FC alongside Disney CEO Bob Iger and his wife, Willow Bay.
Ohanian’s Chelsea deal values the women’s club at 200 million pounds, according to the person familiar, making it the most valuable women’s team in the world based on current foreign exchange rates. As part of the deal, Ohanian will be given a seat on the team’s board.
“I’ve bet big on women’s sports before — and I’m doing it again,” Ohanian said in a post on social media site X confirming the stake.
Chelsea FC Women have won six consecutive Women’s Super League titles. Ohanian says he see the opportunity to grow a worldwide brand within women’s football.
“I’m confident Chelsea FC Women is the next global women’s sports brand,” he said.
Ohanian told CNBC’s “Squawk Box” on Thursday that one of the things that drew him to Chelsea was the team’s large social media following. Chelsea FC Women have 4 million followers on Instagram.
“As a social media guy, I look for heat online in the free market of attention,” Ohanian said. “If this were any other type of brand, there is a lot of revenue opportunity there.”
Ohanian also said he believes in the business model and that women’s sports have been undervalued too long. He said brands are only now starting to wake up to that value.
“We will see billion-dollar clubs in women’s soccer one day in the not-too-distant future,” he predicted.
Ohanian left Reddit in 2020 to focus on building a legacy for his two young daughters through sports and other investments.
He said in 2024 he had invested $250,000 from his daughters trust fund into Angel City FC. Ohanian said the investment made them the youngest owners in professional sports and multi-millionaires.
Williams also recently became part owner of WNBA expansion team the Toronto Tempo, and Ohanian has started a women’s track competition.
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Want to know how to find strong stocks in a volatile market? In this video, Joe uses Relative Strength (RS), Fibonacci retracements, and technical analysis to spot top sectors and manage downside risk.
Follow along as Joe breaks down how to use the Relative Strength indicator to separate outperforming stocks from those failing at resistance. He highlights sectors showing strong or improving RS, discusses the Fibonacci retracement on QQQ, and explains what it means for downside risk.
Joe wraps up with detailed chart analysis on viewer-submitted symbol requests, including QTUM, HOOD, and more, to help you sharpen your trading decisions with expert insights.
The video premiered on May 14, 2025. Click this link to watch on Joe’s dedicated page.
Archived videos from Joe are available at this link. Send symbol requests to stocktalk@stockcharts.com; you can also submit a request in the comments section below the video on YouTube. Symbol Requests can be sent in throughout the week prior to the next show.
The S&P 500 ($SPX) just staged one of the sharpest rebounds we’ve seen in years. After tumbling into deeply oversold territory earlier this year, the index has completely flipped the script—short-term, medium-term, and even long-term indicators are now pointing in a new direction.
One longer-term indicator that hit an extreme low in early April was the 14-week relative strength index (RSI), which dropped to 27. That’s among the lowest levels since the 2008 financial crisis.
The obvious takeaway: it was a great time to buy, even in cases where the low RSI didn’t mark the low. Everyone who pounded the table a few weeks ago has been proven right, even if the rebound was faster and stronger than most could’ve predicted. So, what happens next?
Don’t Expect a Straight Line Up
The long-term picture looks promising, but markets rarely move in a straight line. Even though the market was higher months and years after these deeply oversold readings, the path wasn’t a straight shot to new highs (even if long-term log charts sometimes make it look that way).
The chart below shows the lowest weekly RSI readings in the S&P 500 since 2008.
FIGURE 1. THE LOWEST WEEKLY RSI READING SIN THE S&P 500 SINCE 2008.
Almost every time, there was a pause, often more than one. Some were sharp, others more prolonged. The first real test typically came when RSI bounced back to the 50-zone (the mid-point of its range). Each of these moments is highlighted in yellow in the chart below.
FIGURE 2. AFTER DEEPLY OVERSOLD RSI READINGS, THERE WAS OFTEN A PAUSE IN THE INDEX.
As shown, this often marked the initial digestion phase after the face-ripping rally off the lows. Eventually, the SPX climbed back to a weekly overbought condition, but not right away. This pattern was clearest in 2011, 2015–16, and 2022. The depressed weekly RSI showed that things were getting washed out, but volatility persisted before a lasting uptrend took hold.
Indeed, the current snapback is one of the quickest and most powerful turnarounds in decades, but this pace is also unsustainable. A slowdown is inevitable.
So how does the market handle the next round of profit-taking? By continuing to make higher lows – and converting those into additional bullish patterns.
XLK Makes A Comeback
The market comeback has been led by large-cap growth; that much is clear. The Technology Select Sector SPDR ETF (XLK) has roared back nearly 30% in just six weeks. That’s a massive move in a short period, and far larger than any failed bear market rally seen in 2022. The best six-week rally back then came in the summer and topped out at 17%.
The last time we saw a six-week gain of 20%+ was the period following the COVID-19 low in spring 2020. As we know, that snapback continued, with XLK overtaking its pre-crash highs and ultimately rallying 160% into the early 2022 peak.
This isn’t a prediction, but we shouldn’t ignore it either. Why? Because before 2020, the last such move happened in April 2009, right after the ultimate low of the 2008 financial crisis.
FIGURE 3. WEEKLY CHART OF XLK.
Industrials are Building Strength Too
The Industrial Select Sector SPDR ETF (XLI) and XLK are the first sector ETFs to register overbought 14-day RSI readings. While that suggests a short-term pause could be near, it wouldn’t be a negative. As the weekly chart shows, a pullback could help complete a large bullish formation.
Once again, bouts of intense volatility eventually can lead to the biggest bullish chart formations. Let’s keep XLI on our radar screens.
FIGURE 4. WEEKLY CHART OF XLI.
Even Solar Stocks Are Waking Up
The Invesco Solar ETF (TAN), which has been stuck in a brutal downtrend for years, just rocketed higher by 40%, using intra-day highs and lows. That rally has produced the first overbought reading since late May 2024, which, notably, lasted only a day before momentum faded.
Yesterday, TAN tagged its 200-day moving average, prompting a round of profit-taking. This sets up a critical test for TAN, which has consistently failed at resistance or after short-term pops. Selling strength in TAN has been a highly effective strategy for quite some time.
FIGURE 5: DAILY CHART OF TAN.
The weekly chart clearly shows this pattern playing out since TAN topped in early 2021. Like anything else, TAN could eventually turn the corner—but to do so, it would need to form a legitimate higher low from here.
For now, the downtrend deserves respect. Chasing this move is not advised. Selling strength remains the recommended approach—until proven otherwise.
FIGURE 6. WEEKLY CHART OF TAN.
The Bottom Line
Yes, the market’s comeback has been fast and fierce. But fast moves don’t necessarily mean a straight path higher. Expect slowdowns and pullbacks, watch for bullish setups, and don’t chase runaway rallies. There’s opportunity out there, but it’s all about timing and discipline.