Coach owner Tapestry raises annual sales forecast
(Reuters) - Coach parent Tapestry on Thursday raised its fiscal 2025 revenue forecast for the third time, benefiting from limited exposure to Trump's sweeping tariffs and higher full-price sale of its popular Tabby handbags.
The company expects annual revenue of about $6.95 billion, compared to its prior forecast of more than $6.85 billion issued in February.
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Europe Frets About US Retreating From Region Ahead of NATO
(Bloomberg) -- NATO's European allies are focused on getting through this week's summit unscathed. But even if President Donald Trump is satisfied with fresh pledges to ramp up spending, anxiety is growing about the US military presence in the region. Bezos Wedding Draws Protests, Soul-Searching Over Tourism in Venice One Architect's Quest to Save Mumbai's Heritage From Disappearing JFK AirTrain Cuts Fares 50% This Summer to Lure Riders Off Roads NYC Congestion Toll Cuts Manhattan Gridlock by 25%, RPA Reports Only after the June 24-25 summit meeting in The Hague – where North Atlantic Treaty Organization members will pledge to spend 5% of GDP on defense – will the US present its military review, which will spell out the scope of what are likely significant reductions in Europe. With some 80,000 US troops in Europe, governments in the region have factored in at least a reversal of the military surge under former President Joe Biden of about 20,000 troops. The stakes got significantly higher overnight after US struck nuclear sites in Iran with the risk that Trump will get sucked into a spiraling conflict in the Middle East after being a vocal critic of US military involvement overseas. His foreign policy U-turn will be a topic that will be hard to avoid at the gathering, especially with NATO ally Turkey present and a key stakeholder in the region. Europeans have been kept in the dark on the Trump administration's plans. But officials in the region are bracing potentially for a far bigger withdrawal that could present a dangerous security risk, according to officials familiar with the discussions who declined to be identified as closed-door talks take place before the review. Up until early June, no official from the US had come to NATO to talk about the US force posture review, spurring concern among allies that this could be done at very short notice, according to a person familiar with the matter. It's unclear whether European nations have started planning to fill any potential gaps left by US forces. Withdrawing the aforementioned 20,000 troops could also have an even greater impact if other NATO allies follow the US lead and remove their troops from the east. The worry with even deeper cuts impacting US bases in Germany and Italy is they could encourage Russia to test NATO's Article 5 of collective defense with hybrid attacks across the alliance, the person familiar also said. Since returning to the White House, Trump and his allies have warned European capitals that – despite the mounting threat from Russia – they need to take charge of their security as the US turns its military and diplomatic focus to the Indo-Pacific region. Contacted by Bloomberg, NATO declined to respond to questions but referred to a statement by NATO Secretary General Mark Rutte in early June. When asked about a US drawdown from Europe, he said it was normal they would pivot to Asia. 'I'm not worried about that, but I'm absolutely convinced we will do that in a step-by-step approach,' Rutte said then. 'There will be no capability gaps in Europe because of this.' The White House referred questions to the Pentagon. 'The U.S. constantly evaluates force posture to ensure it aligns with America's strategic interests,' a defense official responded. The geopolitical shift is likely to have enormous consequences for the 32-member alliance, which is weathering its greatest challenge since it became the bulwark against Soviet power in the decades after World War II. European militaries long reliant on American hard power will have to fill the gap as Washington scales back. If a troop reduction focuses on efficiency, it would be far less problematic for Europeans than one that hits critical assets and personnel that Europe couldn't replace immediately, according to one European diplomat. The nature of a withdrawal would be more important than the troop numbers, the person said. A dramatic pullout announcement is likely to trigger an instant reaction from eastern member states, with those closer to Russia immediately requesting deployments from Western European allies. The holistic review of the US military, which Defense Secretary Pete Hegseth says should focus on threats facing the US, is meant to reflect the tilt in the global power dynamic, bringing potentially large-scale redeployment of weapons and troops. But European diplomats have bristled at the timing of the review, taking place only after NATO signs off on its most ambitious new weapons targets since the Cold War — with member states agreeing to foot the bill. A withdrawal that is more dramatic than anticipated will mean that, after acceding to Trump's ramp-up in defense spending, they still may be left with a heavy burden to respond to a rapidly growing Russian military. 'We would be remiss in not reviewing force posture everywhere, but it would be the wrong planning assumption to say, 'America is abandoning'' or leaving Europe, Hegseth said in Stuttgart in February. 'No, America is smart to observe, plan, prioritize and project power to deter conflict.' After the Trump administration balked at providing a backstop to European security guarantees to Ukraine, a pullout of more US troops could embolden Russia's Vladimir Putin, according to people familiar with the matter. 'The question is when pressure is on for a greater focus on the Indo-Pacific, what capabilities do they need to think about moving,' said Matthew Savill, director of military sciences at RUSI, a defense think tank. 'I don't get an impression that they have yet decided what that means for force levels in specific terms.' Germany, Europe's richest and most populous nation, is positioning itself to take on the largest share of the redistribution. Defense Minister Boris Pistorius is taking the lead in building out the military after the country scrapped constitutional debt restrictions when it comes to security. Berlin will do the 'heavy lifting,' he's said. Pistorius recently unveiled a new battle tank brigade in Lithuania and has said the country is committed to boosting its armed forces by as many as 60,000 soldiers. The military currently has about 182,000 active-duty troops. European governments are pushing Washington to communicate its plans clearly and space out any troop draw-downs to give them time to step up with their own forces. 'There are some capabilities, like deep precision strikes, where we Europeans need some time to catch up,' said Stefan Schulz, a senior official in the German Defense Ministry. He called for any US reduction to be done in an orderly fashion, 'so that this process of US reduction is matched with the uplift of European capabilities.' The ideal scenario would be an orderly shift within NATO toward a stronger Europe that would take about a decade, said Camille Grand, distinguished policy fellow at the European Council on Foreign Relations and a former NATO assistant secretary general. A more dire scenario would involve a US administration acting out of frustration with European progress and drastically reducing troop presence. Grand said a 'plausible' scenario would be a cut to about 65,000 US troops, matching a low-point figure before Russia's annexation of Crimea in 2014 — a level that NATO could manage. 'But if we go below that, we are entering uncharted waters, a different world,' Grand said. --With assistance from Courtney McBride and Milda Seputyte. (Adds a graph of context referencing developments in the Middle East in fourth paragraph.) Luxury Counterfeiters Keep Outsmarting the Makers of $10,000 Handbags Is Mark Cuban the Loudmouth Billionaire that Democrats Need for 2028? 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This millennial was rejected from 200 jobs—now he makes millions charging wealthy families six-figures to get their kids into the Ivy Leagues
Like many Gen Zers today, after graduating from college, Christopher Rim was rejected from more than 200 job applications—including at top firms like Goldman Sachs and BCG. But, he says, 'that was the best thing that could have happened to me.' Now, he's making millions disrupting the $3 billion college consultancy industry. How much would you pay to help your child get accepted into Harvard, Stanford, or MIT? $10,000? What about $100,000, or even $750,000? Hundreds of families are paying six-figure price tags to a young millennial named Christopher Rim to get their kids into their top college choices. As the founder and CEO of college admissions consultancy group Command Education, Rim has become a wizard of sorts for how to crack the Ivy League code. Over the last five years, 94% of his clients have been accepted into their top three college choices. And while the $3 billion college consultancy industry may sound like another leg-up the rich have to get their children into schools, Rim says it's about helping students reach their dreams and unlock their potential. After all, on average, only about 5% of pupils who want to go to an Ivy League school actually get in. 'You have one chance. That's it,' the 30-year-old tells Fortune. 'You can't go back to college or apply to these selective universities again.' Unlocking potential is something that hits home in Rim's own story toward success, both in his own journey trying to attend an Ivy League school as well as trying to find his footing as a young graduate. As a public high school student in New Jersey, Rim was told he'd never be cut out for an Ivy League institution. While he admits himself that he wasn't the smartest kid in his class, he had a mission to attend Yale University, and decided to apply even when his guidance counselor pleaded with him to settle for Rutgers University, an in-state public school. Out of the nearly two dozen students from his school who applied to Yale, he was the only one who got in—despite having a lower GPA than the rest. As a student, he kept the ball rolling by charging high schoolers $50 to edit their admissions essays and advising them on how to strengthen their resumes and 'authentically stick out.' After his first two clients got into MIT and Stanford, he realized he might have a gift, and thus Command Education was born in 2015 in his New Haven, Conn., dorm room. However, Rim still wasn't sure it was the key to a post-grad career. Then came the time to apply for jobs. 'I applied to over 200 jobs senior year. All my friends were getting jobs at Goldman Sachs, McKinsey, BCG, major corporations. I got none. I got zero,' he says. 'And that was the best thing to have that happen to me.' Instead of letting the rejection defeat him—like what happens to millions of young adults each year—Rim used it as motivation to help others reach their dream college, too. 'Everyone has this potential, and I was able to instill that confidence and belief and motivate them through the process,' Rim says. 'I think that was a major reason as to why my students succeeded, which, of course, led me to succeed with the business.' So far, Command Education has guided over 1,500 students into top-tier schools, with acceptance rates that soar far above the national average—more than seven times higher at places like Harvard, Caltech, and the University of Chicago. And with parents investing close to $100,000 on average for his services, Rim isn't just shaping student futures, he's built a booming business in the process. While he declined to comment on his company's revenue, his average fee and high demand would put that figure in the millions. (Rim also explained that the $750,000 price tag was a one-off example that included working with a student starting in middle school and having unlimited access to services.) With or without professional help, getting into a top institution is no easy feat. In fact, over the last decade, colleges have only gotten more selective in the students they accept. However, it's not because schools have gotten much smaller in size, it's because more students are applying. For Harvard's class of 2028, who just finished their first year of college, over 54,000 applicants battled for just 1,970 seats; an acceptance rate of 3.6%. That's up from about 37,000 applicants competing for 2,080 spots for the class of 2019, an acceptance rate of 5.6%. Even then, not all accepted students ultimately choose to attend that school. At the same time, college is only getting more expensive. Tuition and fees at private universities have increased by about 41%, when adjusted for inflation, according to U.S. News and World Report. And while some colleges have made attempts at softening the burden for many lower-income students—like Harvard making tuition free for families making less than $200,000—attending a top college remains an uphill battle for many students. However, Rim says services like his aren't making the process less equitable, but rather helping young people find their true calling. 'I know I am not helping my student take a spot away from a middle-class student or a lower-income family student,' Rim adds. 'I'm helping other wealthy families and their kids compete against other wealthy families.' And despite some students feeling that their degree wasn't worth the cost, Rim says demand is higher than it's ever been before. But young people are expanding their interests outside of the traditional Ivy Leagues to other top-ranked schools like Duke University, Vanderbilt University, and the University of North Carolina. 'If you want to get a specific job at a bank, consulting firm, or become a doctor or lawyer, your school is going to matter a lot,' he tells Fortune. But at the end of the day, he says it's about finding students' passions and interests. 'I really will never tell a student, join the debate team, join band club, join newspaper club, because we think that's what colleges want. In fact, it's the total opposite,' Rim says. 'Do what you want.' This story was originally featured on
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If You Can Only Buy 1 Cathie Wood Stock in 2025, It Should Be This
Cathie Wood, founder, CEO and chief investment officer of Ark Invest, continues to make headlines for her high-conviction approach to disruptive innovation. Her flagship fund, the Ark Innovation ETF (ARKK), has posted a 52.9% return in the past 52 weeks, reflecting investor confidence. Known for identifying transformational themes early, Wood maintains focused exposure to industries like genomics, autonomous technology, and blockchain. Within this context, Natera (NTRA) has drawn sharp relevance. The company leads in cell-free DNA testing and precision medicine, aligning directly with Ark's long-term thesis. CoreWeave Just Revealed the Largest-Ever Nvidia Blackwell GPU Cluster. Should You Buy CRWV Stock? AMD Is Gunning for Nvidia's AI Chip Throne. Should You Buy AMD Stock Now? The Saturday Spread: Statistical Signals Flash Green for CMG, TMUS and VALE Tired of missing midday reversals? The FREE Barchart Brief newsletter keeps you in the know. Sign up now! For investors seeking a stock that fits the Ark playbook, Natera may represent one of the most fundamentally aligned additions under Wood's current investment lens. Based in Austin, Texas, stands Natera (NTRA), a pioneer in the field of cell-free DNA and genetic testing. The $23.3 billion biotech firm's arsenal includes powerful offerings like Panorama for prenatal screening, Signatera for real-time cancer surveillance, and Prospera, which sharpens the lens on transplant rejection. Over the last three months, the stock has climbed 16.9%, leaving the broader S&P 500 Index's ($SPX) 5.4% gain behind. On May 8, Natera opened the books on its first-quarter, and the results exceeded Wall Street expectations. Investors responded swiftly, with the stock inching up 1.5% the same day. Natera posted $501.8 million in total revenues, a 36.5% year-over-year increase that soared past Wall Street's $443.3 million forecast. Behind those numbers were powerhouse operations. The company processed 855,100 tests during the quarter, up 16.2% year over year. Women's health volumes climbed meaningfully over the fourth quarter, but it was Signatera that stole the spotlight. The personalized, tumor-informed molecular residual disease test reached new heights, recording its highest volume quarter ever. Clinical volumes for Signatera grew 52% year over year, with a sequential gain of roughly 16,005 units over Q4, marking the most significant quarter-on-quarter growth to date. Gross margins landed at 63.1%, reflecting solid cost discipline. Moreover, Natera's net loss narrowed 1% from the year-ago period to $66.9 million. Also, the company managed to trim its loss per share by 10.7% to $0.50, outperforming analysts' projections of a $0.59 loss per share. As for liquidity, the balance sheet remained in good shape. Cash, cash equivalents and restricted cash climbed to $973.8 million, up from $945.6 million on Dec 31, 2024. CEO Steve Chapman has made no secret of the firm's long-term vision. He believes Signatera could ultimately generate over $5 billion in annual revenue, and he emphasized that they are still playing in the shallow end of a much deeper market pool. In a move that reinforced this optimism, Natera has raised its full-year revenue guidance to between $1.94 billion and $2.02 billion. That is a $70 million boost from the midpoint of its earlier outlook, pointing to a 26% year-over-year growth. On the other hand, analysts expect the Q2 2025 loss per share to widen 100% year over year to $0.60. For FY25, the loss per share is projected to increase 37% to $2.10, but FY26 could bring relief, with a forecast 64.8% narrowing to $0.74, hinting that profitability may finally be within reach. Analysts seem to be singing in harmony when it comes to NTRA, marking it with a firm 'Strong Buy' rating. Out of 19 analysts following the stock, 16 have given it an enthusiastic 'Strong Buy' rating, and the remaining three have placed their bets on a 'Moderate Buy.' The average price target of $200.42 represents potential upside of 17.6%. Meanwhile, the Street-High target of $251 hints at a 48% climb from current levels. Such projections do not come lightly and often reflect deep-rooted confidence in future earnings momentum and strategic execution. On the date of publication, Aanchal Sugandh did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
