Target is set to report quarterly earnings before the bell Tuesday. Here’s what Wall Street is expecting, based on a poll of analysts by Refinitiv: * Earnings per share: $1.12* Revenue: $17.80 billion* Same-store sales: up 5.2 percent Target has a lot of momentum heading into this holiday season, with CEO Brian Cornell recently saying
Lowe’s on Tuesday reported quarterly earnings and revenue that beat analysts’ expectations. Here’s what the company reported compared with what Wall Street was expecting, based on a survey of analysts by Refinitiv: Earnings per share: $1.04 adjusted, vs. 98 cents expected Revenue: $17.4 billion vs. $17.36 billion expected CEO Marvin Ellison started at Lowe’s in
CVS Health now anticipates its roughly $69 billion acquisition of health insurer Aetna to close after Thanksgiving, the company said Tuesday in a regulatory filing. Executives earlier this month said they expected the deal to close before the holiday. The company said it has received approval from 26 of the 28 state departments of insurance
Italian fashion house Dolce and Gabbana has been accused of racism after running three ads showing a Chinese woman being told how to use chopsticks. The series of three videos, entitled “Eating With Chopsticks,” show a woman eating large plates of pizza, spaghetti and a giant Italian cannolo pastry, while a male voiceover tells her
Ten things need to change for the stock market to come back from its Monday declines, CNBC’s Jim Cramer said as high-profile technology stocks Facebook and Apple led the major averages lower. “When does this rout end? When do the buyers come in? When do the sellers finish?” he wondered aloud on “Mad Money.” “Frankly,
Mitsubishi will propose removing embattled executive Carlos Ghosn from its board of directors, the company said Monday. Ghosn, who is chairman and CEO of the strategic alliance among French automaker Renault and Japanese carmakers Nissan and Mitsubishi, was arrested Monday in Tokyo on charges of making misleading financial statements to regulators, Mitsubishi said Monday. Nissan
UBS said General Electric will be able to reduce its debt “to far more acceptable levels by 2020,” despite fears the industrial conglomerate’s bonds could soon become junk-rated. That debt is “far and away” the most pressing concern for GE investors, said UBS analyst Steven Winoker in a note on Monday. That concern was abundantly
Former first lady Michelle Obama’s memoir “Becoming” has become the fastest-selling book of 2018 at Barnes & Noble, surpassing the Trump administration tell-all “Fear: Trump in the White House” by veteran journalist Bob Woodward. In addition to being this year’s fastest seller, Barnes & Noble also announced that “Becoming” had the best first-week sales of
L Brands shares fell 4 percent postmarket Monday after the company said it would slash its annual dividend in half to $1.20. The company, known for its brands Victoria’s Secret and Bath & Body Works, beat profit expectations. L Brands reported adjusted earnings of 16 cents a share versus a Refinitiv estimate of 15 cents.
The year 2018 will be remembered in the auto industry as the end of an era. The news that Carlos Ghosn will in all likelihood be forced out of his job as head of the Renault-Nissan-Mitsubishi Alliance means the sector has lost its two most charismatic and effective leaders in the space of a few
Grocery giant Kroger announced Monday that Monroe, Ohio, a suburb outside of Cincinnati, will be the home of its first Ocado customer fulfillment center. Last May, Kroger struck a deal with British online grocer Ocado to bolster its delivery business with the construction of about 20 robotically operated warehouses, as it continues to battle Amazon.
The market sell-off is is crushing cloud stocks. Salesforce had its worst day since February 2016, plunging 8.7 percent on Monday to $121.01, leading a swoon in shares of companies that sell subscription software. Workday fell 7.6 percent, ServiceNow dropped 8.4 percent and Atlassian fell 8.7 percent. A number of cloud stocks plummeted more than
Each of the five ‘FAANG’ stocks slipped into a bear market during Monday trading. The FAANG stocks – Facebook, Amazon, Apple, Netflix and Google-parent Alphabet – have fallen steadily over the last 6 weeks as the companies delivered disappointing earnings and mixed forecasts. Facebook in particular has been hard hit during this round of selling,
Technology stocks were hit hard on Monday, with some of the biggest U.S. companies leading losses across the sector. The tech-heavy Nasdaq Composite fell 3 percent as it continued a 6-week slide. The index was led lower by Facebook, Apple, and Nvidia. Facebook’s stock hit its lowest level since February 2017 on Monday. Facebook is
Despite all the changes in retail, one thing remains constant: the holidays are the most crucial season of year. Many retailers can ring up a third or more of their sales during the holiday quarter. The extra shoppers flooding through the doors give retailers like Walmart, Amazon and Target a chance to test new technologies
Apple CEO Tim Cook didn’t name names when he spoke out against the privacy practices of big tech companies during a keynote speech in Brussels last month. But he didn’t have to. “We shouldn’t sugarcoat the consequences. This is surveillance. And these stockpiles of personal data serve only to enrich the companies that collect them,”
In June, less than a week after the shocking suicides of celebrities Kate Spade and Anthony Bourdain, Cisco CEO Chuck Robbins felt compelled to address the matter head-on with his employees. From Orlando, where Robbins was attending a conference called Cisco Live, he sent a company-wide email. “In light of recent tragedies, I wanted to
Several U.S senators on Friday pressed Facebook for answers related to claims the company hired contractors to “retaliate against or spread intentionally inflammatory information about their critics,” according to a letter addressed to Facebook CEO Mark Zuckerberg. “We are gravely concerned by recent reports indicating that your company used contractors to retaliate against or spread
Tesaro shares soared 39 percent Friday upon a Bloomberg report that the pharmaceutical company will explore the opportunity of a sale. This comes exactly one week after Tesaro fell more than 20 percent during after-hours trading after the release of drug trial results. A spokesperson declined to comment. This story is developing. Please check back
Gary Shilling has made a career out of predicting bubbles. So what are the big risks he sees out in the global economy now? It’s not necessarily a major shock that could drive the U.S. into a recession immediately, he says; he’s concerned about emerging market debt. He also explains that when the Federal Reserve
Global CEOs are seeing a bit of a slowdown outside the United States, but that’s not what U.S. chief executives are saying about the nation’s economy, according to Steve Odland, president and CEO of The Conference Board. The organization, a global, independent business membership and research association, conducts a number of CEO and confidence studies.
Airlines cancelled over 1,900 flights around the country after winter storm Avery hit the Northeast stronger than expected with up to a foot of snow on Thursday. According to flight-tracking site FlightAware.com, a total of 2,608 flights flying in or out of the United States were cancelled Thursday and Friday. An additional 12,500 flights were
Auto industry officials are cautiously breathing a sigh of relief after hearing word from Washington that the Trump administration may delay, possibly even scrub, a move that could impose new tariffs of up to 25 percent on imported vehicles and car parts. President Donald Trump met with his trade advisers on Tuesday to discuss, among
Channing Dungey, the president of ABC Entertainment, has resigned. Karey Burke, the head of original programming for Freeform, has been chosen to head the company. She will be responsible for all development, programming, casting, marketing, business and scheduling for ABC prime time and late-night. Dungey was the first African American to lead a U.S. broadcast
Coca-Cola’s $5.1 billion acquisition of U.K. coffee chain Costa was less of an effort to take on giants like Starbucks than a move to create a new type of coffee experience, Coca-Cola President and CEO James Quincey tells CNBC. To Quincey, who joined Jim Cramer for an exclusive interview Friday, the coffee industry has split
Upon leaving Oracle in September, after a 22-year career at the software giant, Thomas Kurian told friends and colleagues that he was going to take a step back and decide what to do next. One person he exchanged LinkedIn messages with was a former boss at Oracle, Gary Bloom, who has spent the past six
Google could pay upwards of $110 million, without subsidies, to buy large swaths of land in San Jose, according to a new city document detailing its negotiations with the company on its plan to build a mega-campus 15 miles south of its headquarters. The plan describes sites that cover around 21 acres, some owned by
Gamers have spent an estimated $135 billion on games in 2018, according to Newzoo. But it isn’t just the big-name gaming companies that are making tons of cash — the gamers are, too. Gaming enthusiasts have turned playing video games into a full-time job that can earn some of them millions of dollars before age
Walk around any major city in China, and you’ll see Huawei stores and ads everywhere. That’s because it’s the number one player in the world’s biggest smartphone market, and has become a major contender on the world stage. The Chinese technology firm overtook Apple to become the world’s second-largest smartphone vendor by market share at
Nike has opened a new cutting-edge, 68,000 square foot flagship store in New York City that executives hope will change the way consumers shop for their favorite sneakers and apparel. The “House of Innovation 000” is an immersive shopping experience that combines traditional shopping with the company’s digital app to create a futuristic shopping experience.