Catalyst Capital to buy about 10% stake in Hudson's Bay

Aug 19 (Reuters) – Private equity firm Catalyst Capital Group Inc said on Monday it will buy about 10.05% stake in Hudson’s Bay Co as it looks to block Executive Chairman Richard Baker’s C$1.74 billion proposal to take the company private.

Catalyst said it would buy 18.5 million shares and that it would complete the cash purchase in three business days.

Target launches private food label, Good & Gather

Target Corp. TGT, +2.00% said Monday that it is launching its largest privately-owned food and beverage brand, Good & Gather, in stores and online on September 15. By the end of 2020, the brand will include more than 2,000 products, including dairy, granola bars, and sparkling water. Target plans to phase out its existing brands, Archer Farms and Simply Balanced, and cut the number of items in the Market Pantry brand. Target is scheduled to announce its second-quarter earnings on August 21. Target stock is up 1.4% in premarket trading, and up 27.4% for the year to date. S&P 500 index SPX, +1.44% is up 15.2% for 2019 to date.

Kashmir: Indian forces accused of firing pellets at civilians

Fire from pellet guns used by the Indian forces has allegedly blinded some Kashmiris, including children and women.

In Indian-administered Kashmir, several people claim they have been targeted by Indian forces during the lockdown.

Al Jazeera spoke to two people who said they have sustained pellet injuries.

Al Jazeera’s Anchal Vohra reports from New Delhi.

SSR Motorsports Recalls Certain Competition Motorcycles

SSR Motorsports recalled about 420 units of competition off-road motorcycles citing crash and injury hazards.

The company noted that the vehicle’s front fork assembly can fail during use, causing the rider to lose control and crash.

The company received three reports of the front fork assembly failing, and two incidents out of that resulting in bruising.

The recall, conducted under the Fast Track Recall process of U.S. Consumer Product Safety Commission, involves two-wheeled 2019 SSR Motorsports motorcycles with model numbers SR70Auto, SR70C, SR110Semi/DX, and SR125Auto.

These motorcycles were manufactured by Zhejiang Kayo Motor Co. Ltd., of China and imported by California-based SSR Motorsports.

The products were sold at authorized SSR Motorsports dealers across the United States from February 2019 through June 2019 for between $800 and $1,200.

SSR Motorsports urged the consumers to immediately stop using the recalled motorcycles and contact the local dealer for a free repair.

In March, Triumph Motorcycles USA had recalled more than 12,000 motorcycles due to a potential fault that would lead to a loss of electrical power.

Recently, Honda also had recalled nearly 4000 units of Honda CB300R and other small capacity motorcycles in the US due to an issue with the transmission.

All 30 Dow stocks rise ahead of the open, led by Apple and Goldman

Shares of all 30 components of the Dow Jones Industrial Average DJIA, +1.20% are gaining ground ahead of Monday’s open, as upbeat comments on trade and the economy out of the White House and increasing hopes for stimulus out of China and Europe boosted investor sentiment. Among the biggest premarket Dow gainers, shares of Apple Inc. AAPL, +2.36% rose 1.8%, Goldman Sachs Group Inc. GS, +1.65% gained 1.8% and J.P. Morgan Chase & Co. JPM, +2.40% climbed 1.7%. The combined implied price gains of those stocks would add about 62 points to the Dow’s price. Dow futures YMU19, +1.10% rose 264 points.

Estée Lauder Q4 Profit Tops Estimates; Projects Strong Growth In FY20

The Estée Lauder Companies Inc. (EL) said, adjusting for restructuring and other charges and adjustments, and excluding the impact of currency translation and the adoption of ASC 606, the company’s fourth-quarter net sales increased 12% and earnings per share rose 15% from a year ago.

For the fourth-quarter, adjusted earnings per share was $0.70 compared to $0.61, prior year. On average, 23 analysts polled by Thomson Reuters expected the company to report profit per share of $0.53, for the quarter. Analysts’ estimates typically exclude special items.

Fourth-quarter net sales were $3.59 billion, compared to $3.30 billion, last year. Analysts expected revenue of $3.53 billion for the quarter.

For the first-quarter, the company expects reported net sales to increase between 9% and 10%. On a constant currency basis, before items, earnings per share are expected to increase between 10% and 12%, to a range of $1.56 and $1.59. Analysts polled by Thomson Reuters expect the company to report profit per share of $1.55.

For fiscal 2020, reported net sales are forecasted to increase between 7% and 8%. On a constant currency basis, before items, earnings per share are expected to increase between 9% and 11%, to a range of $5.90 and $5.98. Analysts polled by Thomson Reuters expect the company to report profit per share of $5.81.

Gold Prices Dip On Improved Risk Appetite

Gold prices dipped on Monday as U.S. Treasury yields bounced back and investors cheered reports of China interest rate reforms as well as German fiscal stimulus to counter a possible recession.

The dollar index hovered near a two-week high reached on August 16 as investors kept a close eye on Federal Reserve Chairman Jerome Powell’s speech later this week for his commentary on interest rates.

Spot gold declined 0.85 percent to $1,509.67 per ounce while U.S. gold futures were down 0.9 percent at $1,510.25 an ounce.

Equities edged higher on improved risk appetite as the 10-year U.S. Treasury yield pulled away from a three-year trough hit last week and the People’s Bank of China said it would use market-based reform methods to help lower real lending rates and prop up a slowing economy.

Elsewhere, media reports suggested that Germany’s coalition government may be open to running a fiscal deficit to counter a possible recession.

Financial markets also welcomed U.S. President Trump’s comments that he had discussed the impact of Washington’s tariffs on Chinese goods with Apple chief Tim Cook.