(Reuters) -Ulta Beauty raised its annual sales and profit forecast after topping quarterly sales estimates on Thursday, banking on steady demand for makeup and skincare brands at its stores as well as lower inventory losses. Shares of the company were up 6% in trading after the bell. The company saw stronger store sales, fueled by…
By Suzanne McGee (Reuters) -AI hype that has helped push U.S. stocks to fresh records this year has driven an explosion in leveraged single stock exchange-traded funds, a universe of speculative products that is likely to be tested by Nvidia’s Wednesday earnings. Companies that investors expect to benefit either directly or indirectly from the AI…
By Jonathan Stempel (Reuters) -Delta Air Lines agreed to pay $78.75 million to resolve a class action lawsuit over a 2020 fuel dump that doused tens of thousands of properties, including homes and schools, in Los Angeles and Orange counties in California. A proposed preliminary settlement was filed this week in Los Angeles federal court,…
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By Nell Mackenzie LONDON (Reuters) -Hedge funds and speculators picked WH Smith as their top target for short selling in July, before the British travel retailer announced an accounting error on Thursday that sent its shares tumbling more than 45%. WH Smith lowered its annual profit outlook on Thursday after a review revealed earnings had…
(Reuters) -Private equity group Advent International said on Sunday it has agreed to take over Switzerland’s U-Blox Holding in a cash offer worth some 1.05 billion Swiss francs ($1.30 billion). Advent said its public tender offer for U-Blox’s shares would be carried out by its indirect subsidiary ZI Zenith. The 135 Swiss francs per share…
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By Karen Freifeld and Alexandra Alper (Reuters) -Thousands of license applications by U.S. companies to export goods and technology around the globe, including to China, are in limbo because turmoil at the agency in charge of approving them has left it nearly paralyzed, two sources said. While U.S. Commerce Secretary Howard Lutnick has become a…
By Michael S. Derby (Reuters) -The Federal Reserve said Friday that Governor Adriana Kugler is resigning early from her term and will exit the central bank on Aug. 8, potentially shaking up what was already a fractious succession process for Fed leadership amid difficult relations with President Donald Trump. The Fed said in a statement…
