3. Retail review
Retail earnings are largely in the rearview. American Eagle, Best Buy, Dollar General, Gap, Lululemon and Ulta Beauty all reported quarterly results Thursday (one a few hours earlier than planned). The readouts were mixed: American Eagle posted a 21% sales gain, and Best Buy hiked its full-year profit guidance, meanwhile Dollar General warned of “financially constrained” customers and Lululemon cut its guidance. The consensus: The back of the year for the retail industry remains uncertain.
4. Gathering Intel
Intel is assessing its options. The once-dominant computing company has engaged advisors to review strategic options, a person familiar with the matter tells CNBC’s Rohan Goswami. Advisors are considering a full range of options — including splitting off and selling businesses — and will present their findings at an upcoming Intel board meeting in September, the person said. Intel’s business has struggled as AI-giant Nvidia claims more and more market share. Earlier this month, Intel reported underwhelming earnings and said it would lay off 15,000 workers.
5. No new planes
Profits or planes? Cash-strapped airlines, in a bid to achieve sustained profits, are deferring spending on new aircraft as the latest measure to save money. JetBlue — one of the carriers putting off deliveries of new Airbus planes, along with Spirit and Frontier — estimates the deferrals will save it about $3 billion. But CEO Joanna Geraghty called the step a “double-edged sword:” “We need planes to grow, but taking delivery of aircraft that end up sitting on the ground after we’ve paid for them significantly worsens the problem,” she said.
— CNBC’s Sara Salinas wrote this newsletter. Pia Singh, Jeff Cox, Gabrielle Fonrouge, Yun Li, Ece Yildirim, Rohan Goswami and Leslie Josephs contributed.
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