Daily Archives: August 20, 2021

A new survey from Lending Tree shows that a third of parents are willing to go into debt to get their children ready for the classroom.

That really tells you just how thin the financial margin for error is for so many folks in this country, says Matt Schulz, chief credit analyst at LendingTree.

He tells Yahoo Finance that the average amount parents are expected to spend on back-to-school items is $498. A $500 expense is enough to send an awful lot of people into debt.

Schulz says inflation is a factor in back to school shopping this year, but that the biggest challenges parents face is uncertainty.

Theres no question that inflation is an issue, but really I think maybe the biggest issue is just a lot of the uncertainty that were still seeing in school districts around the country. And the truth is the parents have to be prepared not just to send their kid to learn on campus, but also to be ready in case there are big spikes of COVID at a school and schools get closed down in that particular area, he noted.

So that uncertainty, that flexibility means that youre not just buying backpacks and lunch boxes and, and notebooks and things like that. Youve also still got to worry about things like desks and office chairs and things like that. So all that stuff along with things like hand sanitizer and masks that are just kind of a reality of life. Wherever you go right now it all adds up and its a really expensive situation, Schulz said.

Little girl and her older sister student in a protective medical masks chooses school stationery in a store. Preparing for school. Prevention of coronavirus. Back to school shopping.

Schulz also notes that the reopening of brick-and-mortar retail locations is changing the shopping habits of many parents. He notes that only a quarter of parents say that they will do their back-to-school shopping online, representing a sharp decline from the previous year. Schulz says that in-person shopping can save parents money when it comes to certain items.

Theres a lot to be said for shopping in brick-and-mortar stores. When youre thinking about things like clearance racks and bargain bins especially., if youre just thinking about pencils and pens and paper and all that sort of stuff stuff that you can probably find a little cheaper at some of these brick-and-mortar stores maybe than you would even find at an online retailer, he said.

Story continues

Reggie Wade is a writer for Yahoo Finance. Follow him on Twitter at @ReggieWade.

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, YouTube, and reddit

Read the rest here:

A third of parents are willing to go into debt for back-to-school: Survey - Yahoo Finance

The world's largest retailer sees its stock come alive again, finally.

Walmart's stock (WMT) has widely lagged the S&P 500 (^GSPC) this year (3.8% gain for Walmart vs. 18% gain for the S&P 500) as investors fret about slowing sales and earnings growth after a big year of consumers stocking up during the height of the pandemic in 2020. Inflation in labor and transportation (as mentioned by vendors to Walmart in the past few weeks such as Clorox, Proctor & Gamble and Kimberly-Clark) and what that means to Walmart's thin profit margins hasn't aided sentiment on the stock in the market, either.

But shares of Walmart have interestingly tacked on nearly 6% in the last month (S&P 500 +2%) mostly fueled in the past two weeks ahead of the retailer's closely watched second quarter earnings report on Tuesday. J.P. Morgan analyst Christopher Horvers explains the move higher in Walmart's stock makes sense, and is a bit overdue.

"The general sentiment on the stock [is] much more positive over the past month given (1) its dramatic underperformance to retail and staples over the past 12-18 months; (2) July trend improvement on easier compares/back-to-school and the child tax credit (similar to Target/others); and (3) the general shift toward more defensive stocks," Horvers points out in an earnings preview note to clients.

Whether Walmart's stock sustains its recent gains is obviously dependent upon how second quarter earnings shook out and the company's guidance. Expectations for the second quarter appear on the bullish side of things, raising the potential for a take-profits-on-the-news type of earnings day for Walmart.

Whisper numbers on the Street expect Walmart's key U.S. business to post a same-store sales increase of 4% to 6% for the quarter. Walmart's guidance communicated a few months back call for a second quarter U.S. same-store sales gain of low-single digits (percentage).

Story continues

Staying on those Street whisper numbers, second quarter earnings are seen hitting $1.65 a share (consensus $1.55). Walmart guided to an earnings decline of low-single digits from $1.56 a year ago.

Given those heightened expectations on the quarter and strong potential for Walmart to say the third quarter has started well, the Street is likely banking on a strong full-year earnings guidance lift from Walmart to sustain the stock's recent gains. Currently, Walmart's full-year profit outlook calls for a low-double digit increase year-over-year excluding exited businesses.

But considering the economic uncertainty around the COVID-19 Delta variant and how it may impact consumer spending during the important back-to-school and holiday shopping seasons, Walmart could take a more muted tone on guidance much to the letdown of the bulls.

Horvers says he understands the appeal of Walmart's stock right now, but suggests sitting out on the name into earnings.

"Net-net, while the stock underperformance and defensiveness given the Delta variant is appealing, at 24x our estimate, we think the stock is relatively full with the market unlikely to roll forward 2Q stacks (though we are positive Walmart could at least hold earnings flat in 2022)," Horvers adds.

Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, YouTube, and reddit

Original post:

Why Walmart stock has suddenly popped ahead of earnings - Yahoo Finance

Life hacks have become a big deal over the past decade or so, as we all learn some great little shortcuts that can make our lives simpler. Think about that box of tangled cords in your closet use toilet paper/paper towel rolls to organize them! Save your thumbs by using a clothespin to hold a small nail while hammering. My favorite fat guy hack is putting a donut on your cup of coffee for a minute before eating to warm it up perfectly and give you a flavored coffee cup rim!

The question today is how can we hack Average Draft Position resources to help us during our drafts? We assembled a super team of international scientists, 12-year-old boys who take things apart, and failed assistant football coaches, and we figured out how you can use the Average ADP on FantasyPros.com to improve your chances of getting the players you want at discounts, while also avoiding overpaying for other players.

ADP is pretty self-explanatory its where specific players are being drafted. Unfortunately, we all dont draft from the same website, with the same scoring systems and roster settings. While looking at the Average ADP on FantasyPros is helpful because it gives you a general idea of where players are being drafted across the industry, it doesnt help you on your specific draft site as much as youd think. It actually might hurt you a bit!

How Do ADP Draft Hacks Work?

Most fantasy managers are drafting online these days, which means theyre looking at an Available Players pool that is sorted by best available at each position. That often affects the draft order because some managers realize that site is saying this player is the best available, even though their own personal rankings might have him lower.

Read the original:

ESPN and Yahoo fantasy: How to exploit their rankings using ADP and 'hack' the draft room to your advantage - The Athletic

By David Shepardson

WASHINGTON (Reuters) - The U.S. Agriculture Department (USDA) on Monday will announce revised nutrition standards dramatically boosting average food stamp benefits, the agency confirmed on Sunday.

The New York Times first reported the plan to unveil the largest permanent benefits increase in the history of the government's primary anti-hunger program, saying the change would result in average benefits rising more than 25% versus pre-pandemic levels.

Under the new rules, average monthly benefits, $121 per person before the pandemic, will rise by $36 starting in October, the newspaper reported, adding that all 42 million people in the program would receive additional aid.

At the same time, a temporary 15% increase in benefits as part of pandemic relief is set to expire Sept. 30. The $3.5 billion boost approved earlier this year provides about $27 more per person, per month, or over $100 more a month for a household of four, in additional food stamp benefits.

The USDA plans a media briefing on Monday to detail the changes, but a spokeswoman for the agency, Kate Waters, confirmed the Times report in an email.

Under a 2018 law, the agency has been evaluating its rules to estimate the cost of a nutritious diet called the Thrifty Food Plan, which is used to calculate food stamp benefits, which are formally known as Supplemental Nutrition Assistance Program (SNAP) benefits.

Last week, House of Representatives Democrats on the Agriculture Committee's subcommittee overseeing nutrition issues called the re-evaluation "a critically important step towards ensuring that SNAP benefits adequately support a nutritious diet."

The Democrats added that "research shows that, while SNAP reduces food insecurity and improves health outcomes for recipients, benefits are too low to fully meet their nutritional needs."

Last week, the senior congressional Republicans on two agriculture committees asked the Government Accountability Office to conduct an analysis of the USDA's update of the Thrifty Food Plan.

Story continues

The Times said the new plan would raise the $79 billion annual programs costs by about $20 billion versus pre-pandemic levels.

The USDA said in 2019 that about 11% of the U.S. population was covered by the program.

(Reporting by David Shepardson; Editing by Peter Cooney)

More here:

Biden administration confirms it will boost food stamps by record amount - Yahoo News

The Health Insurance Portability and Accountability Act otherwise known as HIPAA has become a major topic of discussion amid the rollout of COVID-19 vaccines as some individuals who have been asked about their vaccination status claim that the question is a violation of HIPAA.

For example, when asked about his vaccination status, Dallas Cowboys Quarterback Dak Prescott said: I don't necessarily think that's exactly important. I think that's HIPAA. Congresswoman Marjorie Taylor-Greene (R-GA) made similar remarks after a reporter asked if she was vaccinated, stating that with HIPAA rights, we don't have to reveal our medical records, and that also includes our vaccine records.

These assertions are incorrect, according to Marc Haskelson, president and CEO of Compliancy Group, a company that assists health care institutions with achieving HIPAA compliance.

Misunderstanding it is very common, Haskelson told Yahoo Finance. Its really a shame because if people really understood its purpose, I think people would be much happier about its existence.

Dak Prescott, who claimed that a question about his vaccination status was a HIPAA violation, watches from the sidelines during the first half of the NFL preseason game against the Arizona Cardinals on August 13, 2021 in Glendale, Ariz. (Photo: Christian Petersen/Getty)

Confusion about what HIPAA actually is and how it's implemented is common, which Haskelson attributed to the fact that the law's original definition pertained to the exchange of insurance and billing information between providers and insurance companies.

But in todays world, he said, its far more revolved around protecting privacy albeit with some caveats.

HIPAA was implemented in 1996 by President Clinton as a way to strike a balance that permits important uses of information, while protecting the privacy of people who seek care and healing.

In other words, HIPAA is Americas primary health care privacy law.

What it really is for us is the concept that your health information is yours, and it should be protected by anybody who interacts with [it], Haskelson said. The original history of HIPAA was really around abuse of peoples private health care information. Its everything from your name, your Social Security number, to things like a picture of your eyeball during a surgical procedure.

Story continues

That information, he explained, is very valuable.

What it does is its supposed to be a set of standards that says anybody whos involved with your information whether its a doctors office or a billing company everybody involved is supposed to maintain a minimum standard around privacy and secure the information, Haskelson said. Thats the purpose.

Not all entities are bound by HIPAA. According to HIPAA Journal, the law applies to the majority of workers, most health insurance providers, and employers who sponsor or co-sponsor employee health insurance plans. Those who do not have to abide by HIPAA include life insurers, most schools and school districts, many state agencies, most law enforcement agencies, and many municipal offices.

HIPAA also contains an exception for the disclosure of public health activities, which recognizes the need to report vital events like births and deaths as well as information on the spread of infectious diseases.

Employees enter vaccine record information during a COVID mobile vaccine clinic at California State University Long Beach campus on August 11, 2021. (Photo by Patrick T. FALLON / AFP)

Another key provision of HIPAA is that it ensures that you have access to your personal health information and prohibits doctors from keeping that info from you. This is called rights of access and requires HIPAA-covered entities to provide individuals with their medical records, billing records, enrollment, payment, claims adjudication, and other related records upon request.

It allows you as a consumer to call it that you have every right to see the information thats contained about you and to modify it if its incorrect, Haskelson said.

This is crucial if your information on file is incorrect since it can affect life insurance applications and other important forms, as was the case for Haskelson.

Haskelson once pulled a muscle in his rib cage and experienced pain while breathing as a result. After visiting his doctor, the physician recorded it as chest pains rather than a pulled muscle. When Haskelson went to update his life insurance two years later, he was denied because of that note on his record.

Under HIPAA, I had the right to call my doctors office and say, Could you please correct the record that I didnt come there for chest pains, that I came there because of the cartilage and I needed a chest wrapper? Haskelson said. It made it look like I had a heart attack, and therefore they wanted to deny me life insurance.

A Covid-19 vaccine record card is seen at Florida Memorial University Vaccination Site in Miami Gardens, Florida on April 14, 2021. (Photo by CHANDAN KHANNA / AFP)

So does HIPAA apply to COVID vaccination status?

The answer is no, according to Haskelson, because the coronavirus is a serious public health risk. Consequently, discussions around vaccination status or status of having COVID are also considered a matter of public health.

This is like polio, Haskelson said. This is not subjective, how you feel about something. This is a world health risk. Whatever your political beliefs are or your religious beliefs are, this is to protect everybody.

And while Haskelson didnt think the vaccine question posed to Dak Prescott was necessarily appropriate, it wasnt the HIPAA violation that Prescott claimed it was for two reasons: a medical provider wasn't being asked about Prescott's health information, and COVID is a public health issue anyway.

Furthermore, because COVID is a public health issue, businesses technically have the right to ask for proof of vaccination status from their customers and workers, with some limitations.

What I'm not allowed to ask is: If you had COVID, what were the symptoms you had? Haskelson said. Because that's your personal health information. But the concept of the vaccination because I get asked all the time, They won't let them back in school unless they get a vaccine and all that and I'm like, 'Look, this is public health.'

Adriana Belmonte is a reporter and editor covering politics and health care policy for Yahoo Finance. You can follow her on Twitter @adrianambells and reach her at adriana@yahoofinance.com.

READ MORE:

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, YouTube, and reddit

See the original post:

What is HIPAA? What the health privacy law does and doesn't protect - Yahoo Finance

Consumers are finding it hard to ditch their comfy clothes worn for most of the pandemic despite becoming more mobile post COVID-19 vaccinations.

And that continues to play right into the bottom line of Foot Locker (FL).

"We have talked about this cozy, comfortable work-from-home/school sort of look. But the truth is that we have got the uniform of the consumer," Foot Locker CEO Richard Johnson told analysts on an earnings call Friday. "This T-shirt, short and fleece sort of uniform that they are wearing is even more pronounced, and I think will be more pronounced as we go into this back-to-school season."

Foot Locker benefited from the ongoing comfy clothing trend in several ways during the second quarter, much to the surprise of Wall Street forecasters.

First, the company's apparel business saw sales increase by a double-digit percentage. Foot Locker has made a push in recent quarters to trendier hoodies and joggers (notably by Nike) with a street vibe look, and consumers appear to be responding favorably.

"We're doing a better job selling apparel in the stores. For the longest time, it was just sort of an add-on opportunity for our team, but now we've got people that are really focused on selling apparel. We're trying to make sure that it's a full-service opportunity for us to help people get into the right pieces," Johnson explained.

To help fill out that all-day casual look, shoppers bought more shoes in the quarter. Foot Locker said footwear sales rose by a low-single percentage, powered by women and kids categories. The company cited strength behind casual brands such as Crocs and Uggs.

Here is how Foot Locker performed in the second quarter, compared to Wall Street analyst estimates:

Net Sales: $2.28 billion vs. $2.09 billion

Same-Store Sales: +6.9% vs. -1.4%

Gross Profit Margin: 35.1% vs. 30.4%

Adjusted Diluted EPS: $2.21 vs. $1.01

Foot Locker shares soared 10% in afternoon trading Friday. The stock is up 46% year-to-date vs. an 18% gain for the S&P 500, according to Yahoo Finance Plus data.

Story continues

Brian Sozzi is an editor-at-large and anchor at Yahoo Finance. Follow Sozzi on Twitter @BrianSozzi and on LinkedIn.

Follow Yahoo Finance on Twitter, Facebook, Instagram, Flipboard, LinkedIn, YouTube, and reddit

Excerpt from:

Consumers still love their hoodies and sweatpants: Foot Locker CEO - Yahoo Finance