Global News

[ad_1] American clothing and accessories retailer American Eagle store seen in Hong Kong. (Photo by Budrul Chukrut/SOPA Images/LightRocket via Getty Images) Budrul Chukrut | Lightrocket | Getty Images Shares of American Eagle plummeted nearly 16% on Tuesday after the company issued a holiday forecast that failed to impress.  For its holiday quarter, American Eagle expects sales to be up high single digits, ahead of the 3.4% sales growth analysts had expected, according to LSEG. However, it's expecting its operating income to be between $105 million and $115 million, which is mostly below expectations of $114 million, according to StreetAccount. The forecast was dampened by an expected 20% uptick in selling and general administrative expenses, the company said.   The apparel retailer outperformed in its fiscal third quarter, however. Here's how the company did compared with what Wall Street was anticipating, based on a survey of analysts by LSEG, formerly known as Refiniti...

[ad_1] CEO Eric Hansotia of agriculture-machinery manufacturer Agco told CNBC's Jim Cramer on Friday that elevated grain prices — and the high cost of food — will persist, even if Russia's invasion of Ukraine ended tomorrow. Both Russia and Ukraine serve as major global grain suppliers, with the latter often referred to as the "breadbasket of Europe," and so when the war broke out in February 2022 it sent the world's food supply chain into turmoil . When Hansotia sat down with "Mad Money" last March , he told Cramer "13% of the global calories came out of production" when Russian and Ukraine borders shut down. Coupled with climate issues — namely droughts across Europe and North America — the food supply chain disaster spurred by the Russia's invasion is not likely to fade anytime soon, according to Hansotia. "Even if [the war] were to end tomorrow, there's a long-standing degradation in the ability for that area to grow cro...

[ad_1] A trader works on the floor of the New York Stock Exchange on Oct. 20, 2023. Michael Nagle | Bloomberg | Getty Images Stocks traded higher Tuesday, as Wall Street tried to close out a dismal month of trading — that saw Treasury yields surge to levels not seen in more than 16 years — on a high note. The broader index rose 0.4%. The Dow Jones Industrial Average added 59 points, or 0.2%, while the Nasdaq Composite gained 0.3%. The S&P 500 advance was held in check mainly by communication services stocks, which was one of just two sectors trading in negative territory in afternoon trading. Notably, Alphabet, Meta Platforms and Netflix shares were all lower. Nvidia was down by more than 1%. The Cboe Volatility Index (VIX) dropped to an 18 handle, below the long-term average of roughly 20. A higher VIX level can point to greater uncertainty in markets. Earnings season continued Tuesday. Caterpillar slid more than 6% after the construction equipment maker said its fourth-...

[ad_1] Google CEO Sundar Pichai speaks at a panel at the CEO Summit of the Americas hosted by the U.S. Chamber of Commerce on June 09, 2022 in Los Angeles, California. Anna Moneymaker | Getty Images Results were good, but not good enough. That's Wall Street's reaction to quarterly results on Tuesday from Alphabet and Microsoft . Both companies reported revenue and earnings that exceeded estimates, yet the stocks sold off in extended trading. In investor speak, the stocks were priced for perfection. Alphabet shares are up 56% for the year and climbed to a fresh high last week, exceeding the prior record from late 2021, the peak of the tech boom. Microsoft is up 70% over the past 12 months, also reaching a fresh high recently and surpassing Apple as the most valuable publicly traded company. The companies generated excitement last year by riding the artificial intelligence wave, and were also lauded by shareholders for their dramatic cost-cutting efforts, which included ...

[ad_1] In this photo illustration, an insulin pen manufactured by the Novo Nordisk company is displayed on March 14, 2023 in Miami, Florida. Joe Raedle | Getty Images News | Getty Images The top executives of the three drug companies that control 90% of the global insulin market will testify May 10 before the Senate Health Committee on lowering prices of their diabetes drugs, panel Chairman Sen. Bernie Sanders said Friday. Those companies — Eli Lilly , Novo Nordisk and Sanofi — had announced in March that they will slash prices of their most widely used insulin products by 70% or more. related investing news Sanders on Friday called that move an important step forward that was the result of "public outrage and strong grassroots efforts." But the Vermont independent added that Congress must ensure that insulin, whose price has increased by more than 1,000% since 1996, is affordable for everyone. "We must make certain, however, that those price reductions go in...

[ad_1] Moderna Covid-19 Vaccine mRNA 2024-2025 formula. Courtesy: Moderna A version of this article first appeared in CNBC's Healthy Returns newsletter, which brings the latest health-care news straight to your inbox. Subscribe here to receive future editions. It's that time of the year again. A new round of Covid shots is on its way to Americans.  The Food and Drug Administration last week approved updated mRNA-based vaccines from Pfizer and Moderna amid a relatively large summer surge of the virus. Here's what you need to know, including how the shots are different this time around, who is eligible, where to get a vaccine and more.  What makes these shots different? U.S. health officials have long told patients to expect annual updates to Covid shots as the virus mutates into new strains that can dodge the immunity people develop from previous vaccinations or infections. It's similar to how the U.S. rolls out new flu shots each year.  This time, the shots fro...

[ad_1] Kudos diapers founder Amrita Saigal with her daughter Courtesy: Kudos Throughout modern history, parents have only had one real option when it comes to disposable diapers: plastic. The single-use products are typically made with fossil fuels like petroleum and can take hundreds of years to break down, making them the third-largest consumer item in U.S. landfills, according to the Environmental Protection Agency.  Plus, they're not as breathable as other materials, which could make incidents like diaper rashes more common.  Still, plastic diapers from mega brands like Procter & Gamble -owned Pampers and Kimberly-Clark -owned Huggies continue to dominate the market. Amrita Saigal, founder and CEO of Kudos, is looking to change that.  The Massachusetts Institute of Technology graduate, mechanical engineer and "Shark Tank" alum developed a sustainable diaper that uses some plastic, but is 100% lined with cotton and incorporates other degradable materials like...

[ad_1] A Tesla Model 3 vehicle on an auto carrier in front of a store in Rocklin, California, July 21, 2021. David Paul Morris | Bloomberg | Getty Images Tesla shares dropped 5% Friday after the electric car company cut prices on some models in the U.S. and reduced the price for its premium driver assistance software. The stock closed at $245.01. It's still up almost 100% this year after gaining 2.7% for the week. While Tesla CEO Elon Musk has said in the past that the price of Tesla's premium driver assistance option, marketed as Full Self-Driving software, would only ever go up, the company cut the price by $3,000 from $15,000 in the U.S. for customers who purchase it upfront rather than through a monthly subscription. Subscribers pay between $99 and $199 per month, depending on whether they're upgrading from a standard or other premium version. Tesla is also cutting prices for inventory vehicles in the U.S., including its entry-level Model 3 sedan, luxury Model S ...

[ad_1] Christian Petersen | Getty Images Sport | Getty Images Tensions are building among broadcast station owners and pay TV providers as the local rights to air NBA, NHL and MLB games go up for grabs. Broadcast station owners including E.W. Scripps Co., Gray Television, Nexstar Media Group and Sinclair have been in discussions with leagues and teams about potential deals to carry games on free over-the-air channels, according to people familiar with the matter, as long-held media rights for teams on regional sports networks unravel. Regional sports networks have owned almost all local sports rights for decades, but their viability is in doubt after tens of millions of Americans have been canceling cable TV in recent years. A shift to a model revolving around broadcast stations and direct-to-consumer streaming would upend the business that saw teams and leagues reap hefty fees. It would also boost broadcast station owners leverage in carriage negotiations — and potentially ac...

[ad_1] Warren Buffett said he's happiest when eating dessert and drinking Coke — and would give up a year of his life to keep doing so. "I always tell people: I found everything I like to eat by the time I was six," Buffett said Wednesday in an interview with Becky Quick on CNBC's " Squawk Box" in Tokyo. "I mean, why should I fool around with all these other foods?" The 92-year-old, with a diet that famously consists of junk food and sugary beverages , said it would hypothetically be better to lose a year of his life than to eat foods considered healthier. The Berkshire Hathaway chairman and CEO is known for, among other habits, stopping at McDonald's each day on the way to work for breakfast. And Buffett said he had Hershey's Kisses before the interview. "I know all these people eat all these green things and everything," he said. "But if somebody told me I would live an extra year if I ate nothing but broccoli and ...

[ad_1] NEW DELHI: Direct tax collections have increased over 23% to Rs 6,45,239 crore during this financial year up to July 11, driven by a faster rise in personal income tax , the Central Board of Direct Taxes ( CBDT ) said on Saturday. Net collections were 19.5% higher at over Rs 5.7 lakh crore as refunds soared almost 65% to Rs 70,902 crore during the period.On a gross basis, corporate tax collections were 20.4% higher at Rs 2,65,336 crore, while personal income, including securities transaction tax, rose 25.3% to a little under Rs 3.8 lakh crore. "Corporate profits continue to surge significantly, and these are clearly reflected in the first quarter advance tax collections. A booming stock market has also contributed to higher STT [securities transaction tax] collections. Strong collections being the backdrop of the upcoming budget indicate the possibility of the govt reigning in the fiscal deficit," said Rohinton Sidhwa, partner at Deloitte India. So far this yea...

[ad_1] NEW DELHI: A year after the listing of Life Insurance Corporation ( LIC ) of India, the insurance behemoth will hold international roadshows, beginning in Hong Kong later this month. The non-deal roadshows of LIC are scheduled between June 25 and June 29, sources said, adding that the meeting will also be held in the United Kingdom (UK). These roadshows are aimed at creating awareness among global investors post-listing of LIC shares, the sources said. It has been a little over one year since LIC was listed on the stock exchanges. The non-deal roadshows will offer investors a comprehensive look at the company's story. It also aims at fostering effective communication between the executive team and investors. According to the sources, the top management of LIC will interact with global investors through a series of meetings spread over five days and highlight the strength of the company. The management will urge the investors to invest in LIC scrips as the company has ...