Tuesday, August 21, 2018
What to watch today
The week in retail earnings will start kicking into gear with Kohl’s (KSS) and TJ Maxx parent company TJX Companies (TJX) reporting results. Wall Street analysts expect same-store sales at Kohl’s rose 2.7% during the second quarter while TJX’s same-store sales are projected to rise 2.4%, according to estimates from Bloomberg. Shares of both companies have outperformed the S&P 500 handily over the last year, with TJX rising 41% over that period while Kohl’s stock has more than doubled.
Microsoft thwarted Russian hackers: Hackers linked to Russia’s government tried to target the websites of two right-wing U.S. think-tanks, suggesting they were broadening their attacks in the build-up to November elections, Microsoft said. The software giant said it thwarted the attempts last week. [Reuters]
Britain wants the EU to replicate the US’s sanctions on Russia: The UK has made it very clear that it intends to leverage its special relationship and turn towards the U.S. for a trade deal after Brexit. It perhaps comes as no surprise then that it has taken sides with the world’s biggest economy when it comes to supporting the U.S.’s tough sanctions on Russia. [Yahoo Finance UK]
Trump doesn’t expect much from China trade talks: U.S. President Donald Trump does not expect much progress from trade talks with China this week in Washington, he told Reuters on Monday. Trump said in an interview that he had “no time frame” for ending the trade dispute with China, which threatens to impose tariffs on virtually all goods traded between the world’s two largest economies. [Reuters]
Farfetch targets New York listing as luxury web sales thrive: Online fashion retailer Farfetch aims to float on the New York Stock Exchange by the end of the year, the London-based company said, seeking to capitalize on rapid growth in luxury sales on the web. [Reuters]
ConocoPhillips and Venezuela’s PDVSA reach $2B settlement: U.S. producer ConocoPhillips (COP) and Venezuela’s PDVSA have reached a payment agreement over a $2 billion arbitration, the companies said, suspending a dispute that blocked the state-run company from exporting oil from most of its key Caribbean facilities. [Reuters]
For more of the latest news, go to Yahoo Finance
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