markets

Helena Cheng6/4/26

PVH shares plunge on lowered revenue outlook tied to geopolitical tensions

PVH is plunging in early trading following the release of its Q1 report, as a lowered full-year sales guidance overshadowed an otherwise solid earnings beat. The company, which owns iconic brands Calvin Klein and Tommy Hilfiger, warned investors that ongoing macroeconomic and geopolitical tensions would impact international revenues.

The primary driver behind the stock collapse is a revised fiscal 2026 forecast that caught Wall Street off guard. Revenue is now projected to be “approximately flat” compared to the flat to slight increase it had forecast previously, with the prolonged war with Iran and its widening economic impact on the EMEA region cited as the cause. Revenue in constant currency terms for the EMEA region fell 5% during the quarter as a result of these disruptions. The company continues to expect growth in its Americas and Asia-Pacific businesses.

PVH continues to expect full-year adjusted earnings between $11.80 and $12.10 per share, which includes a roughly $3.30 impact from tariff costs and around a $1.70 benefit from tariff refunds.

“As we look forward, we are balancing two opposing forces: on one side, the increasing brand and business momentum we are driving in both Calvin and TOMMY, and on the other, the prolonged effects of the Middle East conflict, which is putting pressure on the consumer in EMEA,” Stefan Larsson, the CEO of PVH, commented in a statement. “We are adjusting to the moment, while keeping our long-term approach to fueling our brand and business momentum.”

For Q1 itself, PVH posted total sales that rose 2% year over year to $2.03 billion. The retail brand bounced back to an $88 million profit, or $1.90 per share, reversing a net loss of $44.8 million from the same quarter last year. Growth was anchored by the company’s direct-to-consumer sales, which grew by 6% on the back of strong performance in Calvin Klein denim and underwear, alongside Tommy Hilfiger outerwear.

Despite the sell-off, PVH stock has risen over 30% year to date.

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J. Edward Moreno7/7/26

SpaceX gets a wave of bullish ratings from Wall Street analysts

SpaceX received more than a dozen positive analyst calls on Tuesday — including from major Wall Street banks — as they initiate coverage on Elon Musk’s space and AI company.

SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

The ratings come as SpaceX joined the Nasdaq 100 index, a benchmark tech-heavy basket of companies that underpins millions of portfolios. The inclusion adds built-in demand for the stock from index funds and ETFs.

Still, SpaceX fell more than 5% on Tuesday amid a broader sell-off, and is currently effectively flat from its opening price of $150 a share.

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markets

Paige Oamek6/30/26

Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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