Reuters - Before the Bell

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Wednesday, August 21, 2019

Futures gain on upbeat Target, Lowe's earnings; Fed minutes eyed

U.S. stock index futures rose on Wednesday as upbeat earnings reports from retailers Lowe's and Target reflected robust consumer demand, helping ease some concerns around slowing economic growth.

Target raises profit forecast as online sales power second-quarter beat

Target Corp beat Wall Street estimates for quarterly profit and raised its annual forecast on Wednesday, as higher investments to cater to changing shopping habits lifted online sales and attracted more shoppers, sending shares up 7%.

Texas shale towns grapple with growth as oil-bust fears fade

In west Texas, the center of the U.S. oil boom, about 3,800 students at Permian High School are crammed into a campus designed for 2,500, with 20 portable buildings to help with the overflow.

Resale clothing company thredUP gets $175 million in funding

Online resale store thredUP said on Wednesday it received $175 million in funding which it will use to expand its platform to offer resale clothing services to retailers.

Court grants Ryanair injunction to stop Irish pilot strike

The Irish High Court on Wednesday granted Ryanair an injunction to prevent its Dublin-based pilots from going on strike later this week.

Exclusive: Humbled Noble Group seeks to rebuild LNG, energy businesses: sources

Noble Group Holdings (Noble Holdings) plans to rebuild its liquefied natural gas (LNG) and core energy businesses and develop rare earths as it seeks new life as a niche, Asia-focused commodity trader, sources aware of the matter said.

Exclusive: Alibaba postpones up to $15 billion Hong Kong listing amid protests: sources

China's biggest e-commerce company Alibaba Group Holding Ltd has delayed its up to $15 billion listing in Hong Kong amid growing political unrest in the Asian financial hub, two people with knowledge of the matter told Reuters.

European stocks recover before Fed minutes, Jackson Hole gathering

European stocks opened higher on Wednesday as hopes for more monetary and fiscal stimulus helped assuage worries about global recession, political turmoil in Italy and endless trade wars.

Norwegian wealth fund buoyed by U.S. tech giants

Norway's $1.1 trillion sovereign wealth fund, the world's largest, benefited from a strong finish to the second quarter to post a 3% return on investment, buoyed by U.S. tech giants Microsoft and Facebook.

DHL stops deliveries for Amazon Fresh in Germany

Deutsche Post DHL will no longer deliver fresh food in Germany for Amazon as demand for the service launched in 2017 has been disappointing, a spokeswoman said on Wednesday.