US Energy Secretary downplays impact of oil price surge, says "fear premium" is only a short-term fluctuation

The second paragraph has been supplemented with Levi Strauss's stock performance, the fourth bullet point includes additional analyst comments, and the sixth bullet point incorporates updated earnings forecasts. Reuters, October 7 — Levi Strauss (LEVI.N) raised its annual profit forecast on Wednesday after benefiting from tariff rebates and betting that its premium jeans will see strong demand during the holiday season. The company’s shares dropped 1.3% in after-hours trading, reversing a brief 7% rise following the earnings release. Details are as follows: The apparel brand received a $79 million tariff rebate in the third quarter ended August 30 under the International Emergency Economic Powers Act, and plans to reinvest about $60 million of that amount in promotions this year. Direct-to-consumer comparable sales were flat in the third quarter. CEO Michelle Gass stated that sales in the US market declined due to heightened inflationary pressures faced by consumers, leading to a weaker-than-expected performance in this segment. However, the jeans maker’s women’s collection was a significant highlight, thanks to increased demand for loose-fitting jeans and a strategic expansion of the product line beyond jeans to tops, skirts, and dresses. Independent retail consultant Bruce Winder commented that direct-to-consumer business underperformed expectations this quarter, adding that high fuel prices continue to present challenges in the US market. Levi Strauss raised its forecast for full-year organic revenue growth to 6%, hitting the upper end of the previous 5.5%–6% range. The company increased its full-year adjusted earnings per share forecast from the prior range of $1.46–$1.52 to $1.54–$1.56. According to data compiled by LSEG, net revenue for the quarter ended August 30 grew by 4% to $1.61 billion, in line with the expected $1.62 billion. Adjusted earnings per share for the quarter were $0.48, compared with analysts’ prior forecast of approximately $0.36 per share.

This article was automatically generated using Dow Jones technology. Shares of iShares Core MSCI EAFE ETF shed 1.1% to $96.20 Wednesday on what proved to be an overall poor trading session for the U.S. stock market, with the S&P 500 Index falling 0.2% to 7,801.77. The fund's fall snapped a three-day winning streak. The ETF's shares closed 5.2% below the 52-week high of $101.44 seen on August 28, 2026. Trading volume was 11,673,074, compared to the 65-day average trading volume of 8,811,386. As of October 6, the fund's net asset value totaled $97.24 per share. Data source: Dow Jones Market Data, FactSet (END) Dow Jones Newswires October 07, 2026 16:35 ET (20:35 GMT)

This article was automatically generated by Dow Jones using technology from Automated Insights. Shares of Moderna Inc. advanced 4.8% to $196.48 on what proved to be an all-around rough trading session for the stock market, with the NASDAQ Composite Index falling 0.2% to 27,538.69 and Dow Jones Industrial Average falling 0.7% to 51,179.87. Moderna Inc. closed 7.4% short of its 52-week high of $212.22, which the company achieved on October 6th. The stock outperformed some of its peers, as Johnson & Johnson rose 1.4% to $258.45, Pfizer Inc. rose 1.8% to $28.00, and Gilead Sciences Inc. rose 1.82% to $146.85. Trading volume totaled 14.6 million, compared to the 50-day average of 20.7 million. Data source: Dow Jones Market Data, FactSet (END) Dow Jones Newswires October 07, 2026 16:33 ET (20:33 GMT)