Kohl’s puts up big 2Q, raises profit outlook
Kohl’s breezed past Wall Street’s second-quarter profit and revenue expectations and raised its profit outlook for the year.
Investors at first punished the stock but grew more optimistic as the day went on, pushing up the company’s shares nearly
2 percent Tuesday.
Like many retailers, Kohl’s is reinventing itself as shoppers move increasingly online. But it is also benefiting from a stronger job market and rising consumer confidence.
more Russian hacking
Microsoft said it’s discovered new Russian hacking efforts targeting U.S. political groups ahead of the midterm elections.
The company said Tuesday that a hacking group tied to the Russian government created fake internet domains that appeared to spoof two conservative organizations: the Hudson Institute and the International Republican Institute.
EPA moves to cut
regulation of coal power
The Trump administration has come out with new rules scaling back Obama-era constraints on coal-fired power plants.
The move strikes at one of the Obama administration’s legacy programs to rein in climate-changing fossil-fuel emissions. The Trump plan broadly increases the leeway given states to decide how and how much to regulate coal power plants.
US adds to growing list
of sanctions on Russia
The Trump administration has added to its growing list of sanctions against Russia as U.S. lawmakers call for tighter economic restrictions on Moscow.
Britain’s top diplomat is also urging the European Union to make sure its sanctions against Russia are comprehensive after the poisoning of a former Russian spy on British soil.
‘Crazy Rich Asians’ hoopla gets mixed feelings in Asia
The craze for “Crazy Rich Asians” is hitting Asia, with a premiere in Singapore to be followed by openings in several neighboring countries later this week.
Much of the movie was set in the wealthy city-state and the red carpet premiere Tuesday night was expected to draw an enthusiastic crowd after its box-office bonanza in the U.S. Critics say its satirical portrayal of an uber rich Singaporean Chinese family fails to showcase the city’s ethnic diversity.
Effort to help monarch butterflies gets boost
An initiative to market milkweed to help monarch butterflies is getting a boost from a Canadian parka company. Quartz Co. is renewing its commitment to sell coats made with milkweed floss.
A cooperative of farmers in Quebec and Vermont is growing milkweed to help restore the monarch population and serve the demand for the fiber as a high-end clothing insulation. Montreal-area Quartz said that after a few years of trial runs, it’s close to having a major product with milkweed parkas.
S&P 500 hits all-time high, earnings drive stock gains
The S&P 500 index briefly traded at an all-time high just as the U.S. stock market’s bull run came closer to becoming the longest on record.
The market’s benchmark index eked out a slight gain, closing a little below the high mark it set in January. The rally pushed the Russell 2000 index of smaller-company stocks to a record high.
The current bull market, which began in 2009, is on track to become the longest in history today, surpassing the bull run of the 1990s.