J.C. Penney Co Inc reported a steeper-than-expected fall in quarterly comparable-store sales on Tuesday after the retailer exited its appliance and in-store furniture categories, sending shares down 10% in premarket trading.
U.S. stock index futures rose on Tuesday after the United States temporarily eased restrictions on China’s Huawei Technologies, allaying investor concerns over a further escalation in a bitter trade war between the two countries.
Stock markets gained on Tuesday, with chipmakers and companies exposed to Asia among the best performers, after Washington temporarily eased trade restrictions imposed last week on China’s Huawei.
J.C. Penney Co Inc reported a steeper-than-expected fall in quarterly comparable-store sales on Tuesday, taking a hit from not selling major appliances and in-store furniture, sending its shares down 10% in early trading.
Home Depot Inc reported its slowest growth in quarterly same-store sales in at least three years on Tuesday, missing Wall Street estimates, as the home improvement chain was hurt by wet weather in February and a steep fall in lumber prices.
Kohl’s Corp slashed full-year profit forecast after the department store operator missed Wall Street estimates for quarterly same-store sales and profit on Tuesday, sending its shares down over 10% in early trading.
Chinese telecoms equipment maker Huawei called itself the victim of U.S. “bullying” on Tuesday and said it was working with Google to counter trade restrictions imposed by Washington last week, a senior Huawei executive said.
Bayer on Tuesday hired law firm Sidley Austin to investigate a Europe-wide data collection scheme run by its Monsanto unit, which targeted journalists, politicians and other stakeholders to influence the debate on pesticides.
From submitting their fingerprints to giving up their tax records, Wells Fargo & Co’s next chief executive will go through a vetting process that could rival that of top U.S. government officials.
Chinese telecoms equipment maker Huawei on Tuesday said it was a victim of bullying by the U.S. administration.
Merck & Co Inc said on Tuesday it would buy Peloton Therapeutics Inc for $1.05 billion in cash to gain access to the privately held company’s renal cancer drug candidate.
Italian luxury goods group Prada said it would shrink its wholesale network in Italy and Europe in a push to have uniform prices for its products across different outlets and reduce markdowns.
Home Depot Inc reported its slowest growth in quarterly same-store sales in at least three years on Tuesday and missed Wall Street estimates, as the home improvement chain was hurt by poor weather in February and a steep fall in lumber prices.
At least three major investors in Deutsche Bank want Chairman Paul Achleitner to step down early amid discontent with the bank’s turnaround, two people with knowledge of the matter said on Tuesday.
The Kremlin said on Tuesday that U.S. sanctions on Russia’s Nord Stream 2 pipeline to Germany would be an act of unfair competition that would be seen as unacceptable in Moscow and some European capitals.
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