Ralph Lauren Omotesando shop in the Shibuya ward in Tokyo

Ralph Lauren falls as Wall Street digests the luxury brand’s modest growth plans

The high-end retailer delivered a solid revenue outlook, but warned that tariffs and inflation could squeeze margins.

Ralph Lauren shares slipped 2.2% on Tuesday as the company laid out a fresh growth plan ahead of its investor day. The brand is now aiming for steady (but not splashy) gains of low to mid-single-digit revenue growth over the next three years and 100 to 150 basis points of margin expansion by fiscal 2028.

That sounds solid on paper, but the Street seemed unimpressed. For context: Ralph Lauren topped full-year sales estimates for 2025, notching 6.7% growth. The company also flagged that tariffs and inflation will weigh on margins and that shoppers are getting more price sensitive.

Management indicated bright spots in North America and Asia, where full-price sales are holding up, and stressed that its customer base remains resilient. The company also laid out plans to double down on its top 30 global cities with a more integrated retail and digital presence, while building out its next 20 markets to fuel long-term growth.

Ralph Lauren plans to hand at least $2 billion back to investors by 2028 through dividends and share repurchases.

Despite today’s dip, Ralph Lauren shares are still up 32% year to date.

Luke Kawa

54m

Plug Power jumps on elevated call demand

Plug Power is up today amid a wave of bullish options action.

As of 11:40 a.m. ET, 28,819 calls have traded, nearly double the 20-day average of 14,527.

The two contracts seeing the most activity are calls with a strike price of $2 that expire on October 17 and on this Friday.

The put/call ratio is below 0.13 as of 11:40 a.m., versus a 20-day average of 0.32.

Nia Warfield

Warner Bros. Discovery dips after TD Cowen downgrade cools deal frenzy

Warner Bros. Discovery shares were down over 8% after TD Cowen downgraded the stock from “buy” to “hold,” even as it kept its $14 price target.

The dip comes on the heels of a sharp rally sparked by reports that Paramount Skydance may bid for the media giant. TD says that while a successful bid could send WBD north of $20, the current risk-reward feels lopsided. If nothing materializes, shares could slip back toward $11 to $12.

Analysts noted that much of the upside from deal chatter is already priced in. TD also flagged limited potential buyers if Paramount Skydance fell though and the lack of concrete details around a bid. In short: the rumor mill has been driving the stock, but fundamentals haven’t clearly caught up.

Reaction has been mixed: last week, Wells Fargo reiterated an equal-weight rating on the stock and hiked its price target to $14 from $13.

Even with today’s dip, WBD shares are still up 67% year to date.

J. Edward Moreno

Hims falls after FDA posts warning letter

The agency’s letter took issue with the claims made in Hims’ marketing materials.

Luke Kawa

One mother’s LinkedIn post inspired GameStop CEO Ryan Cohen to give a surprise gift to a new employee

The GameStop CEO gave James, a teenage employee an Irving, Texas, an e-bike so he could get to work easier.

James poses with his new e-bike outside a GameStop store

Matt Phillips

Rocket Lab slammed after announcing share sale plans

When the market is throwing cheap cash at you, take it.

That’s essentially what Rocket Lab said it’s going to do by announcing an at-the-market share offering of up to $750 million in securities, hammering its stock price in early trading.

In an at-the-market offering, companies can sell shares directly into the market, effectively diluting existing shareholders, which explains the price move.

While the drop is likely painful for some shareholders who got into the stock only recently, selling shares is a pretty logical way for a company to, literally, capitalize on the market enthusiasm that has sent the stock up more than 600% over the last 12 months.

Rocket Lab said it intends to use the proceeds from the share sale for general corporate and working capital purposes. It also said it may use some of the money to pay the cash portion of the $75 million purchase price for German laser communications company Mynaric, a deal announced back in March, if that acquisition is finalized. (Mynaric was operating under the German version of bankruptcy protection at the time, making the acquisition somewhat complicated.)

“Pending these uses, we may invest the net proceeds from this offering in short-term, interest-bearing instruments. Accordingly, we will retain broad discretion over the use of these proceeds,” the company said.

SEC Filing | Rocket Lab Corporation