Same-store sales fell more than expected at J.C. Penney Co Inc in the first quarter and its net loss nearly doubled after the retailer exited its appliance and in-store furniture businesses, sending shares down more than 9% on Tuesday.
Kohl’s Corp cut its full-year profit forecast and reported lower-than-expected quarterly results as the department store chain sold fewer full-price spring apparel and saw weak demand for home goods, sending its shares down as much as 14%.
Home Depot Inc on Tuesday blamed wet weather in February and a slump in lumber prices for its slowest growth in quarterly same-store sales in at least three years, while warning of a $1 billion impact from new tariffs on Chinese imports.
U.S. stocks rose on Tuesday, lifted by a rebound in technology stocks, as Washington’s move to temporarily ease curbs on China’s Huawei Technologies calmed nerves over a further worsening of a trade war between the two countries.
Huawei launched its new Honor 20 series smartphones in London on Tuesday in a presentation that emphasized the Chinese company’s technology but made no reference of a possible rupture with Google.
U.S. President Donald Trump says China pays the tariffs he has imposed on $250 billion of Chinese exports to the United States.
McDonald’s Corp has been accused in 25 new legal actions of condoning sexual harassment in the workplace and retaliating against employees who speak up.
Global equity markets rose on Tuesday, led by chipmakers and companies exposed to Asia, after the United States temporarily eased trade restrictions imposed on China’s Huawei Technologies, while the dollar rose on a flight to quality.
Nokia Chief Executive Rajeev Suri said on Tuesday the company could benefit from a U.S. clampdown on Chinese rival Huawei as the race to roll out 5G services heats up.
Three Democratic U.S. senators on Tuesday questioned the decision by Volkswagen AG’s U.S. unit to delay a union election for workers at its Tennessee assembly plant.
Turkish Airlines expects compensation from Boeing Co for losses over the grounding of 12 737 Max aircraft, the chairman of Turkey’s flagship carrier was quoted as saying, adding that he would meet Boeing’s chief executive on Friday.
U.S. drugmaker Merck & Co Inc on Tuesday agreed to buy Peloton Therapeutics Inc for $1.05 billion in cash, gaining access to the privately held company’s lead kidney cancer drug candidate.
EU antitrust regulators will decide by June 27 whether to clear U.S. tech giant International Business Machines Corp’s $34 billion bid for software company Red Hat.
U.S. stock indexes rose in a broad-based rally on Tuesday, as Washington’s decision to temporarily ease curbs on China’s Huawei Technologies allayed concerns over a further escalation in trade war between the two countries.
Shares of Tesla Inc were on track for a fifth straight session of losses on Tuesday, as Morgan Stanley analysts outlined a worst case scenario that could see the electric carmaker’s stock price fall as low as $10.
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