Coca-Cola shares jumped more than 4% after the company posted earnings and revenue that topped analyst expectations. United Technologies advanced nearly 2%.US Marketsread more
The IMF trims its economic growth forecast again as the U.S.-China trade war continues, Brexit worries linger and inflation remains muted.Economyread more
Citigroup thinks Tesla investors hoping for a post-earnings rally later this week should scrutinize a pair of related financial metrics.Investingread more
In advance of Amazon's earnings report on Thursday, Craig Johnson says the stock chart is pointing to big gains. Mark Tepper also likes the stock.Trading Nationread more
Olive branches were extended from both China and the U.S. as the two nations are set to restart face-to-face trade negotiations after a monthlong truce.Marketsread more
Lawmakers, industry representatives and advocates are testifying to the Senate committee about the challenges that cannabis companies face in states where medical or...Health and Scienceread more
Coca-Cola topped Wall Street's expectations for earnings and revenue.Food & Beverageread more
New disclosures show Facebook and Amazon each spent more than $4 million on lobbying activity in the second quarter of 2019.Technologyread more
Boris Johnson, one of the biggest voices in the Brexit movement, wins the Conservative Party leadership race by a 2-1 margin.Europe Politicsread more
Disney can nearly double its earnings by 2024, Morgan Stanley said in a note to clients on Tuesday.Investingread more
Amazon is expected to report its second-quarter earnings on Thursday.Investingread more
"Cheap fabric for soccer moms." "Duty-free cheap (expletive) you buy at the airport." "A brand about to go from high-end luxury to TJ Maxx & Walmart."
Versace fans used all kinds of colorful comparisons to criticize the sale of the Iconic Italian fashion brand sale to Michael Kors, taking to social media to mourn what they saw as the brand's sullied legacy.
Following rumors on Monday, the sale of the Gianni Versace fashion house to Michael Kors Holdings Ltd. was confirmed on Tuesday, in a deal worth more than $2 billion.
Versace acolytes responded on social media with all the drama one would expect, invoking the name of the Gianni Versace to condemn the sale.
"Gianni Versace didn't die for his ICONIC brand to be sold to some cheap & tacky designer who is the epitome of locals knowledge on designer brands & whos bags u can't even tell the difference between the fakes they sell in Turkey," read one viral response. "This is the end of Versace. I'm so disappointed."
Some truth-tellers on social media were quick to point out the differences between Kors' luxury and lower-priced lines.
"Michael Kors isn't cheap, actually @MichaelKors has marketing smarts," read one rebuttal. "The "cheap" stuff you see is the less expensive collection & he also has a high end line. So while you can get a MK purse for $400, there is also one for $4000. That's why he's close to owning @Versace!"
That didn't stop other Versace fans from calling Michael Kors the "tackiest man alive."
Founded by Gianni Versace in 1978, the company has been run by his heirs since his murder 21 years ago. The Versace family still controls 80 percent of the company and the investment firm Blackstone owns the remaining 20 percent, with Gianni's sister Donatella Versace helming the brand, recently presenting her latest collection during Milan Fashion Week.
"This is a very exciting moment for Versace," she said about the sale. "It has been more than 20 years since I took over the company along with my brother Santo and daughter Allegra. I am proud that Versace remains very strong in both fashion and modern culture. Versace is not only synonymous with its iconic and unmistakable style, but with being inclusive and embracing of diversity, as well as empowering people to express themselves. Santo, Allegra and I recognize that this next step will allow Versace to reach its full potential."
The Associated Press contributed to this report.