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US retailers brace for bigger consumer stress test as war drags on

US retailers brace for bigger consumer stress test as war drags on

By Juveria Tabassum, Neil J Kanatt and Akriti Shah June 3 (Reuters) - With the Iran war stretching into its fourth month, U.S. retail companies that have so far banked on a resilient consumer could face a tougher road ahead as rising gas prices and economic pain gradually erode the buffer.

Victoria's Secret shares surge as retailer lifts annual forecasts on strong sales

Victoria's Secret shares surge as retailer lifts annual forecasts on strong sales

June 2 (Reuters) - Victoria's Secret shares jumped 34% in premarket trading on Tuesday, as the lingerie retailer raised its annual sales and profit forecasts after posting double-digit quarterly revenue growth across its brands, including PINK.

Dollar General raises annual profit forecast on resilient demand for discount goods

Dollar General raises annual profit forecast on resilient demand for discount goods

June 2 (Reuters) - Dollar General raised its annual profit forecast on Tuesday, mirroring rival Dollar Tree, as the discount retailers bank on shoppers seeking affordable essentials amid economic uncertainty.

HPE expects to achieve 2028 financial targets this year after record quarter on AI boom

HPE expects to achieve 2028 financial targets this year after record quarter on AI boom

By Jaspreet Singh June 1 (Reuters) - Hewlett Packard Enterprise posted record second-quarter results on Monday, prompting the company to accelerate its long-term financial goals by two years, as expansion of AI data centers boosts demand for its servers and networking products.

Philip Morris cuts annual profit forecast on cost pressure, weak pricing power

Philip Morris cuts annual profit forecast on cost pressure, weak pricing power

June 2 (Reuters) - Philip Morris cut its annual profit forecast on Tuesday, with CEO Jacek Olczak citing margin pressure due to higher energy costs from the Iran conflict and currency swings, at a time when consumers rein in spending.

European stocks dip on Mideast tensions, private market jitters

European stocks dip on Mideast tensions, private market jitters

By Johann M Cherian and Utkarsh Hathi June 3 (Reuters) - European shares slipped on Wednesday as renewed Middle East hostilities and signs of strain in private markets spooked investors, while Zara owner Inditex gained after reporting a strong start to the summer.

European stocks rise as STMicroelectronics' forecasts lift tech stocks

European stocks rise as STMicroelectronics' forecasts lift tech stocks

June 2 (Reuters) - European shares opened higher on Tuesday as strong forecasts from chipmaker STMicroelectronics lifted technology stocks, while investors awaited a key inflation report later in the day for insights into how the Mideast conflict has affected the euro zone economy.

Luxury brands seek to lure America's AI super-rich

Luxury brands seek to lure America's AI super-rich

By Elisa Anzolin and Helen Reid MILAN/LONDON, June 2 (Reuters) - European luxury brands have sharpened their focus on the United States, with a surge of store openings and fashion shows to lure a new crop of wealthy shoppers enriched by the AI and tech boom and offset weak consumer confidence in the

Fulcrum plummets 50% after scrapping lead sickle-cell drug on FDA concerns

Fulcrum plummets 50% after scrapping lead sickle-cell drug on FDA concerns

June 2 (Reuters) - Shares of Fulcrum Therapeutics plunged 50% in premarket trading on Tuesday after the company said it would abandon development of its experimental sickle-cell disease drug following cancer-risk concerns raised by the U.S.

JetBlue flags higher fuel costs as disruptions from Iran conflict linger

JetBlue flags higher fuel costs as disruptions from Iran conflict linger

June 1 (Reuters) - U.S. carrier JetBlue raised its second-quarter fuel costs forecast on Monday as shipping disruptions in the Strait of Hormuz entered a fourth month, increasing pressure on the global aviation industry due to rising jet fuel prices.

Berkshire Hathaway to buy Taylor Morrison for $8.5 billion in housing push

Berkshire Hathaway to buy Taylor Morrison for $8.5 billion in housing push

May 31 (Reuters) - Berkshire Hathaway has agreed to acquire Taylor Morrison Home Corporation in an all-cash deal valued at about $8.5 billion, the companies jointly said on Sunday, marking an expansion of the conglomerate’s housing business.

Goldman Sachs lifts 12-month STOXX 600 target on resilient earnings

Goldman Sachs lifts 12-month STOXX 600 target on resilient earnings

June 1 (Reuters) - Goldman Sachs has raised its 12-month target for STOXX 600 index to 660, the U.S. brokerage said, citing resilient corporate earnings growth despite the war in the Middle East.