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American Eagle on Tuesday said it is writing off $75 million in spring and summer merchandise and withdrawing its full-year guidance as it contends with slow sales, steep discounting and an uncertain economy.

The apparel retailer said it expects revenue in the first quarter, which ended in early May, to be around $1.1 billion, a decline of about 5% compared to the prior-year period. American Eagle anticipates comparable sales will drop 3%, led by an expected 4% decline at intimates brand Aerie. American Eagle previously expected first-quarter sales to be down by a mid-single-digit percentage and anticipated full-year sales would drop by a low single-digit percentage. 

Shares plunged more than 17% in extended trading. 

When it reported fiscal fourth-quarter results in March, American Eagle warned that the first quarter was off to a “slower than expected” start, due to weak demand and cold weather. Conditions evidently worsened as the quarter progressed, and the retailer turned to steep discounts to move inventory.

As a result, American Eagle is expecting to see an operating loss of around $85 million and an adjusted operating loss, which cuts out one-time charges related to its restructuring, of about $68 million for the quarter. That loss reflects “higher than planned” discounting and a $75 million inventory charge related to a write-down of spring and summer merchandise, the company said. 

“We are clearly disappointed with our execution in the first quarter. Merchandising strategies did not drive the results we anticipated, leading to higher promotions and excess inventory. As a result, we have taken an inventory write down on spring and summer goods,” said CEO Jay Schottenstein.

“We have entered the second quarter in a better position, with inventory more aligned to sales trends,” he said. “Additionally, we are actively evaluating our forward plans. Our teams continue to work with urgency to strengthen product performance, while improving our buying principles.” 

The company added it is withdrawing its fiscal 2025 guidance “due to macro uncertainty and as management reviews forward plans in the context of first quarter results.” It is unclear if recent tariff policy changes had an effect on American Eagle.

Some companies bought inventory earlier than usual to plan for higher duties, but American Eagle repeatedly said in March that it was in a solid inventory position and was able to go after trends as customer preferences shifted. 

At the start of the first quarter, the company said it had some inventory outages and needed to supplement stock in a few key categories, particularly at Aerie, one of its primary growth drivers. 

This post appeared first on NBC NEWS

Former Olympic cyclist and world champion Rohan Dennis received a suspended sentence on Wednesday over what was termed a “tragic accident” that led to the death of his wife, fellow Olympian Melissa Hoskins.

The 34-year-old Dennis appeared in South Australia District Court after earlier pleading guilty to a charge of committing an aggravated act likely to cause harm.

Dennis was arrested after Hoskins, 32, was struck by his vehicle in front of their home at Medindie in Adelaide’s north on Dec. 30, 2023. Hoskins suffered serious injuries in the crash and died at Royal Adelaide Hospital.

The court was told that the couple had argued over kitchen renovations before Dennis left their home and drove away. The court also heard that Hoskins had jumped onto the hood of the car during the incident. His licence was also suspended for five years.

Dennis on Wednesday was sentenced to one year, four months and 28 days in jail, to be suspended for two years. The sentence was reduced from two years and two months because of his guilty plea and he’s been placed on a two-year good behavior bond.

The offense carried a maximum sentence of seven years in jail but lawyer Jane Abbey asked that her client receive a suspended sentence, which was not opposed by the prosecution.

During sentencing submissions in in April, Amanda Hoskins said her daughter had loved Dennis “and I know that you would never intentionally hurt her.”

“I believe this is a tragic accident. Your temper is your downfall and needs to be addressed,” she said.

Hoskins’ funeral was held in her home city of Perth, Western Australia and a public memorial service was held in Adelaide in February 2024. Dennis attended the service with their two children.

Hoskins competed at the 2012 and 2016 Olympics on the track in the team pursuit and was in the squad that won the 2015 world title. Dennis won two world titles in the road time trial, as well as silver in the team pursuit at the 2012 Olympics and bronze in the road time trial at the Tokyo Olympics.

This post appeared first on cnn.com

A man who spent nearly four decades in a British prison in the killing of a barmaid said he was not angry or bitter Tuesday as his murder conviction was overturned and he was released after being exonerated by DNA evidence.

Peter Sullivan put his hand over his mouth and wept as the Court of Appeal in London quashed his conviction and ordered his freedom after he had spent years fighting to prove his innocence.

Sullivan, who watched the hearing by video from Wakefield prison in northern England, said through his lawyer that he was not resentful and was anxious to see his loved ones.

“As god is my witness, it is said the truth shall take you free,” attorney Sarah Myatt read from a statement outside court. “It is unfortunate that it does not give a timescale as we advance towards resolving the wrongs done to me. I am not angry, I am not bitter.”

He was the longest-serving victim of a wrongful conviction in the U.K., Myatt said.

Sullivan, 68, was convicted in 1987 of killing Diane Sindall in Bebington, near Liverpool in northwest England. He was behind bars for 38 years.

Sindall, 21, a florist who was engaged to be married, was returning home from a part-time job at a pub on a Friday night in August 1986 when her van ran out of fuel, police said. She was last seen walking along the road after midnight.

Her body was found about 12 hours later in an alley. She had been sexually assaulted and badly beaten.

Sexual fluid found on Sindall’s body could not be scientifically analyzed until recently. A test in 2024 revealed it wasn’t Sullivan, defense attorney Jason Pitter said.

“The prosecution case is that it was one person. It was one person who carried out a sexual assault on the victim,” Pitter said. “The evidence here is now that one person was not the defendant.”

Prosecutor Duncan Atkinson did not challenge the appeal and said that if the DNA evidence had been available at the time of the investigation it was inconceivable that Sullivan would have been prosecuted.

Merseyside Police said it reopened the investigation as the appeal was underway and was “committed to doing everything” to find the killer.

The Criminal Cases Review Commission, which examines possible wrongful convictions, declined to refer Sullivan’s case to the appeals court in 2008 because it said testing at the time was unlikely to produce a DNA profile.

A commission spokesperson said that while it made the correct decision based on the evidence at the time, it regretted not identifying the potential miscarriage of justice in its first review.

Sullivan appealed in 2019 without the CCRC’s help and the court turned down his bid in 2021.

But the commission took up the case later that year and was able to use scientific techniques that hadn’t been available during the earlier review to find the DNA that set Sullivan free.

“In the light of that evidence, it is impossible to regard the appellant’s conviction as safe,” Justice Timothy Holroyde said.

Police said the DNA found in the subsequent investigation does not match anyone in a national database. They’ve ruled out as suspects Sindall’s fiancé, members of her family and more than 260 men who have been screened since they reopened the investigation.

Sullivan’s sister, Kim Smith, reflected outside the court on the toll the case had taken on two families.

“We lost Peter for 39 years and at the end of the day it’s not just us,” Smith said. “Peter hasn’t won and neither has the Sindall family. They’ve lost their daughter, they are not going to get her back. We’ve got Peter back and now we’ve got to try and build a life around him again.”

This post appeared first on cnn.com

Bangladesh’s Election Commission has cancelled the registration of the former ruling party of ousted Prime Minister Sheikh Hasina, preventing it from participating in the next national election, which is expected to be held by June next year.

The decision on Monday came hours after the country’s interim government headed by Nobel Peace Prize laureate Muhammad Yunus issued an official notification banning the Awami League party and its affiliated bodies from conducting activities online and elsewhere.

Monday’s formal notification from the Ministry of Home Affairs was issued two days after the interim Cabinet decided to ban all activities of the party under the country’s Anti-Terrorism Act until a special tribunal concludes a trial for the party and its leaders.

In the notification, the government said it outlawed all activities “including any kind of publication, media, online and social media” as well as “any kind of campaign, procession, meeting, gathering (or) conference until the trial of the leaders and activists … is completed.”

It said the decision was effective immediately.

Separately, the Election Commission said Monday it would not allow the Hasina-led party to contest the next election. Political parties must be registered with the Election Commission to take part in elections.

A government adviser said Monday that anyone who posts comments online in support of the Awami League party would face arrest.

On Sunday, the Awami League accused the interim government of “stoking division” and trampling on “democratic norms” by banning its activities. It said in a statement that the ban “stoked division within society, strangled democratic norms, fueled ongoing pogrom against dissenters and strangled inclusivity, all undemocratic steps.”

The Awami League is one of two major parties in Bangladesh, which has a fractious parliamentary democracy with a violent history of coups and political assassination.

Hasina, the daughter of Bangladesh’s independence leader Sheikh Mujibur Rahman, fled the country on Aug. 5 last year and has been in exile in India since then along with many senior party colleagues and former Cabinet minsters and lawmakers. They have been accused of killing protesters during an uprising against Hasina’s 15-year rule in July-August last year.

The United Nations human rights office said in a report in February that up to 1,400 people may have been killed during three weeks of anti-Hasina protests. But the Office of the UN High Commissioner of Human Rights recommended in a report to “refrain from political party bans that would undermine a return to a genuine multi-party democracy and effectively disenfranchise a large part of the Bangladeshi electorate.”

The Awami League, which led a nine-month war against Pakistan for independence in 1971, has been under severe pressure since Hasina’s ouster. Protesters have attacked and torched many of its offices including its headquarters in Dhaka. It accuses the interim government of sponsoring mobs to attack the homes and businesses of their activists and leaders. It said thousands of its supporters have been arrested across the country and that many have been killed.

Yunus has said the next election will likely be held either in December or in June next year.

This post appeared first on cnn.com

Mohammad Iqbal was working the nightshift at a power plant when he got a frantic call from his family saying artillery shells were exploding around their home.

But dawn brought no relief from the shelling that would continue for four days as India and Pakistan fought their most intense conflict in decades, raising fears of an all-out war.

Iqbal, 47, lives near the town Poonch in India-administered Kashmir, a stone’s throw from the de-facto border with Pakistan, an area of pine-clad foothills and flowery meadows, backdropped by towering, icy peaks.

But the idyll is illusory – Kashmir is one of the world’s most militarized regions and the trigger for multiple wars between India and Pakistan, who both claim the territory in full but control only in part.

Last week the nuclear-armed neighbors traded missiles, drones, and artillery shelling for four days following a massacre of tourists in Indian-administered Kashmir last month that New Delhi blamed on its neighbor, which Pakistan denies.

Two hours after the firing started last Wednesday, Iqbal got news his brother-in-law’s home had been hit.

The shell had exploded at a nearby water tank, obliterating windows and sending shards of glass flying, hitting his brother-in-law and niece.

What followed was a frantic scramble to get the wounded to the nearest hospital.

“As people started evacuating there were a few people in the village with cars so people just poured into whatever vehicle they could find,” Iqbal said.

“For a few hours it was difficult to locate everyone. People got split up. But finally at the hospital my family came together.”

There, he found his brother-in-law, who works as a policeman, critically wounded and medical staff struggling to treat the influx of casualties.

Iqbal’s brother-in-law survived. But two of his neighbors did not.

Pakistan said on Tuesday that 40 civilians had been killed and 121 wounded in Indian firing, and that 11 members of its armed forces had been killed. India has previously said 15 civilians were killed and 59 wounded and that it had lost five soldiers.

For the roughly 15 million people living in the contested region, the latest bout of hostilities has appeared to push a political solution for their home further away than ever.

But the immediate concern in both sides of Kashmir is how long the skies will stay quiet.

“Markets are open again and some people who had left have slowly started coming back,” he said.

“There still is that anxiety about what might happen when night comes,” he added.

On the other side of the Line of Control, in Pakistan-administered Kashmir, Saima Ashraf shared those feelings.

“Uncertainty still prevails,” she said. “Many believe it (the ceasefire) is not a permanent solution.”

Others are unclear about when they can return to their homes and villages.

“Many of them are waiting to see how the situation develops before making a decision about returning,” Akhtar Ayoub, a local administration official in Pakistan’s Neelum Valley, told Reuters.

Raja Shoukat Iqbal, who lives near the de facto border, described the ceasefire as “essential for the people of Kashmir” who he said were paying a high price on both sides of the divide.

“This peace was also necessary on the international level because both countries are nuclear powers, any mistakes or anger of any country could cause the deaths of two billion people,” he posited.

Flashpoint

Kashmir has been a flashpoint since 1947, when British India was hastily divided into two by its former colonial rulers.

What followed was the birth of two nations: Hindu-majority India and Muslim-majority Pakistan. Millions suddenly found themselves on the “wrong” side of the new border, leading to a frantic and bloody mass migration that tore communities asunder.

Kashmir, a Muslim-majority state led by a Hindu monarch, was in a unique position. Pakistan laid claim to the territory, while the prince chose India.

Both Pakistan and India, two nations gripped by fervent nationalism, believe that Muslim-majority Kashmir is an integral part of their countries.

For Pakistan – which was founded as a homeland for South Asia’s Muslims – Kashmir’s division is viewed as a grave historic injustice.

The country’s powerful military is run by the general Asim Munir, known for his hardline stance on India. Weeks before the latest conflict, he described Kashmir as Pakistan’s “jugular vein,” according to local media reports.

India has long accused Pakistan of funding terror groups in Kashmir, an accusation denied by Islamabad. Pakistan, meanwhile, seeks to position the cause of violence in the region as a result of New Delhi’s alleged “oppression.”

Hindu nationalist Prime Minister Narendra Modi has pushed a more uncompromising position on the contested land.

In 2019, his Bharatiya Janata Party (BJP) government split the former state into two union territories, giving the government in New Delhi greater control over the Muslim-majority region.

‘Our family is together’

India and Pakistan have both claimed victory from their latest conflict.

New Delhi says its strikes inside Pakistani territory – the deepest since one of their wars in 1971 – have eradicated terror camps used to plot attacks on India – including the massacre of tourists last month that sparked the conflict.

Pakistan says its air force shot down five Indian warplanes, including advanced French-made Rafale fighter jets.

On Monday, in his first remarks since the fighting started, Modi said India had “only suspended our responsive attack on Pakistan’s terror and military hubs.”

“In the coming days we will measure Pakistan’s every step,” he said.

Those on both sides of the border have long been living under the threat of shelling and strikes.

“We sat in silence, extremely petrified,” he said. “Praying the next target would not be our family or our home.”

“Smiles plastered across our faces, and we hugged,” he said.

“We now want this ceasefire to stay. Both countries need to find long-term solutions.”

Iqbal, the power plant worker, said he was trying to remain optimistic despite the damage done.

“We are lucky,” he said. “We have only homes to re-build and our family is together. I hope things don’t resume. But there’s no guarantee.”

This post appeared first on cnn.com

The most intense clashes for years rocked Tripoli for a second night and continued into Wednesday morning, witnesses in the Libyan capital said, after Monday’s killing of a major militia leader set off fighting between rival factions.

The United Nations Libya mission UNSMIL said it was “deeply alarmed by the escalating violence in densely populated neighborhoods of Tripoli” and urgently called for a ceasefire.

The latest unrest in Libya’s capital could consolidate the power of Abdulhamid al-Dbeibah, prime minister of the divided country’s Government of National Unity (GNU) and an ally of Turkey.

Libya has had little stability since a 2011 NATO-backed uprising ousted longtime autocrat Muammar Gaddafi and the country split in 2014 between rival eastern and western factions, though an outbreak of major warfare paused with a truce in 2020.

A major energy exporter, Libya is also an important way station for migrants heading to Europe and its conflict has drawn in foreign powers including Turkey, Russia, Egypt and the United Arab Emirates. Its main oil facilities are located in southern and eastern Libya, far from the current fighting in Triopli.

While eastern Libya has been dominated for a decade by commander Khalifa Haftar and his Libyan National Army (LNA), control in Tripoli and western Libya has been splintered among numerous armed factions.

Dbeibah on Tuesday ordered the dismantling of what he called irregular armed groups.

That announcement followed Monday’s killing of major militia chief Abdulghani Kikli, widely known as Ghaniwa, and the sudden defeat of his Stabilization Support Apparatus (SSA) group by factions aligned with Dbeibah.

The seizure of SSA territory in Libya by the Dbeibah-allied factions, the 444 and 111 Brigades, indicated a major concentration of power in the fragmented capital, leaving the Special Deterrence Force (Rada) as the last big faction not closely tied to the prime minister.

This post appeared first on cnn.com

In this in-depth walkthrough, Grayson introduces the brand-new Market Summary Dashboard, an all-in-one resource designed to help you analyze the market with ease, speed, and depth. Follow along as Grayson shows how to take advantage of panels, mini-charts, and quick scroll menus to maximize your StockCharts experience.

This video originally premiered on May 12, 2025. Click on the above image to watch on our dedicated Grayson Roze page on StockCharts TV.

You can view previously recorded videos from Grayson at this link.

Let’s be honest. Did anyone think a little more than a month ago that the S&P 500 was primed for a 1000-point rebound? I turned bullish at that April 7th bottom a month ago, but I did not see this type of massive recovery so quickly.

Why does this happen?

I believe these panicked selloffs occur, because the big Wall Street firms get out prior to market massacres and they need to get back in. What’s the best way to accumulate shares? To send out your best market influencers (oops, I meant analysts) to drive home the pain and misery that’s coming. I mean, just ask the media outlets. They were the ones responsible for all those terrorizing headlines. And market makers added panic by opening stocks much, much lower from previous days’ closes on many occasions this year.

Want some evidence?

Well, let’s go back in time and zero in on the more aggressive QQQ (ETF that tracks the NASDAQ 100):

At the very bottom, when the most manipulation takes place, we see massive gaps to the downside that create opportunities for Wall Street firms to buy in much, much cheaper as retail traders panic sell into those falling gaps. The massive volume that accompanies capitulation makes it very easy for market makers to buy lots of shares on their own behalf and on behalf of their institutional clients. This institutional buying is reflected by higher prices intraday. Looking at the above chart, the QQQ tumbled 52.46 (476.15-423.69) over 3 trading days. But the total gap downs over those 3 days were 46.26, nearly 90% of the entire 3-day meltdown. This wasn’t a distribution period or a selling event, it was a MARKET MAKER MANIPULATION EVENT.

Want an even more telling stat? From the March 13th close (467.64) to the Friday, May 9th close (487.97), the QQQ gained roughly 20 bucks. Here’s the breakdown of how the QQQ traded on an intraday basis over this 2-month period:

  • Opening gaps: -42.31
  • 9:30-10:00: +19.18
  • 10:00-11:00: +6.72
  • 11:00-2:00: +21.86
  • 2:00-4:00: +14.13

During a period when the QQQ gained roughly 20 bucks, the cumulative opening gaps were -42 bucks. That means that the QQQ saw buying to the tune of 62 bucks during the trading day. Panicked retailers took the market makers’ bait and sold with all the media-related nonsense, while market makers were secretly buying for all their Wall Street colleagues and buddies.

If you’re sitting in cash right now, wondering when to get back in, I can promise you that you’re not alone. This 2025 “massacre” and “shocking rebound” were planned all along. Wall Street’s rotation into defensive areas of the market had me and many EarningsBeats.com members in cash back in January and early February. They absolutely knew this was coming, but media outlets weren’t telling us back then to get out. They waited for the fear to kick in before posting their ridiculously-bearish headlines over and over and over again – forcing retail traders to say “Uncle!!!!!”

This is what I refer to as “legalized thievery.” It’s how our financial system works unfortunately. You either learn how to play defense against it or periodically suffer the consequences. At EarningsBeats.com, we choose the former.

How To Build A Winning Portfolio

Now that the manipulation is in our rear view mirror and the S&P 500 looks to move back into all-time high territory, it’s very important to understand the best way to outperform the benchmark S&P 500. That’s what we strive to do over time and we’ve been very successful at it. This Saturday, May 17th, at 10:00am ET, I’ll be hosting a webinar to show you how to successfully build a portfolio that outperforms over time. One part of this webinar will be dedicated to highlighting the keys to spotting the 2025 cyclical bear market and determining the best time frame to jump back in. We’ve made these calls in real time during 2025, from our MarketVision 2025 event in early January to my Daily Market Reports to EB members to my StockCharts blog articles to my YouTube shows hosted by both EarningsBeats.com and StockCharts.com. It’s extremely important that we learn from difficult periods in the stock market so that we’re better prepared for the next one.

Don’t allow Wall Street to manipulate you. I’m going to show you the best way(s) to avoid it when it occurs again. And it WILL happen again. CLICK HERE to learn more, register for our “How To Build A Winning Portfolio” and save your seat. If you cannot make the event live on Saturday, you’ll receive a recording of the event to listen to at your leisure simply by registering. So register NOW!

Happy trading!

Tom

Bullish signal alert! Over 50% of S&P 500 stocks are now above their 200-day moving average.

In this video, Dave explains this key market breadth indicator and what it means for stock market trends. He shows how moving average breadth has reached a bullish milestone, what this means based on historical signals over the past 15 years, and how it compares to the Zweig Breadth Thrust. He also introduces the stoplight market phase technique—a simple but effective method using StockCharts tools to assess market conditions in real time.

This video originally premiered on May 13, 2025. Watch on StockCharts’ dedicated David Keller page!

Previously recorded videos from Dave are available at this link.

We’ve been cautious about the uptrend phase off the April low for a number of reasons, including the lack of breadth support.  While short-term measures of breadth had turned more positive, the long-term breadth conditions had remained firmly in the bearish realm.  With the renewed strength in risk assets over the last week, our long-term breadth measures now indicate a healthy uptrend phase.  

Today we’ll dive a little deeper into one of those breadth indicators, talk about why we track moving average breadth, and show how this recent bullish signal could be a sign of stronger price action to come.

Here we’re showing the S&P 500 on a closing basis along with its 50-day and 200-day moving averages.  Below that, we’re tracking the percent of S&P 500 stocks above their 200-day moving average, followed by the percent of stocks above their 50-day moving average.

Starting at the bottom, we can see that less than 10% of S&P 500 members were above their 50-day moving average at the April 2025 low.  The last time we had reached below the 10% level was back in October 2023, just before a significant market bottom.

While the surge in this short-term breadth indicator over the last month has suggested a tactical rally, the panel above shows how there were still less than 50% of S&P 500 members above their 200-day moving average.  So most stocks had regained the short-term moving average, but were still languishing below the long-term moving average.

As risk assets have surged higher this week, it’s meant enough upside momentum that now most S&P 500 members are back above their 200-day moving average.  Now let’s look at a longer-term time frame and consider previous instances where this long-term moving average breadth indicator has gone from below 25% to above 50%.

We’ve identified eight occurrences of this pattern since the 2009 market low.  In all eight occurrences, the S&P 500 has experienced positive returns in the next 12 months.  And with the exception of the signal in October 2015, we haven’t seen any retest of the previous swing low.

Let’s dig into that 2015 example a little further, and you’ll see what differentiated that particular signal from all the others.

In all the other occurrences, the S&P 500 broke above its 200-day moving average and held that crucial level of support.  In Q4 2015, however, the S&P 500 failed to hold the 200-day moving average, and the breadth indicators soon rotated back to a bearish phase.

It took another attempt in March 2016 before the chart finally resolved to the upside, with the S&P 500 leaving the 200-day moving average behind as it continued to push higher.  Breadth indicators continued to improve as investors began to believe in the bull market of 2016.

I was taught that “nothing good happens below the 200-day moving average,” which also implies that good things can definitely happen above this long-term trend barometer.  At this point, given the bullish breadth rotation that we’ve observed off the April low, I would say that as long as the S&P 500 remains above its 200-day moving average, then we stand a serious chance of further upside from here.

If, however, the SPX fails to hold this crucial line of support, and the index falls back below the 5750 level, then we may be looking at more of a 2015-style retracement as fears rise and stocks drop.

RR#6,

Dave

PS- Ready to upgrade your investment process?  Check out my free behavioral investing course!

David Keller, CMT

President and Chief Strategist

Sierra Alpha Research LLC

marketmisbehavior.com

https://www.youtube.com/c/MarketMisbehavior

Disclaimer: This blog is for educational purposes only and should not be construed as financial advice.  The ideas and strategies should never be used without first assessing your own personal and financial situation, or without consulting a financial professional.  

The author does not have a position in mentioned securities at the time of publication.    Any opinions expressed herein are solely those of the author and do not in any way represent the views or opinions of any other person or entity.