Abercrombie & Fitch's Strong Sales Can't Save Stock, Kohl's Boosts Earnings Forecast, and More Business News

In this business news roundup, Abercrombie & Fitch reports better-than-expected sales but sees a drop in stock price, Kohl's raises its full-year earnings outlook, Hyundai plans to double its hybrid car lineup, and more. Retail Abercrombie & Fitch's sales skyrocket, but investors remain unsatisfied, causing shares to plunge. Kohl's, on the other hand, increases its full-year earnings forecast, despite lowering its comparable sales guidance. Pharmaceuticals Neurocrine Bioscience's experimental schizophrenia treatment meets trial goals, but shares fall due to underperformance compared to a rival drug. Novo Nordisk investigates a fire at its manufacturing hub, finding no evidence of criminal activity. Economy Small towns across the US experience economic growth, fueled by tourism, manufacturing, and government contracts.

Automotive Hyundai aims to double its hybrid car lineup by 2024, allocating $3 billion for share buybacks to boost investor returns. Aviation SAS becomes part of Air France-KLM, strengthening the airline's position in the Nordics. International China's richest individuals lose billions in market downturn, as stock selloffs in major consumer companies raise concerns over the nation's economic health. Markets Berkshire Hathaway becomes the first non-tech company in the US to surpass $1 trillion in market value. Toys Lego seeks new digital partnerships, aiming to stay relevant for its increasingly digital users. Technology Apple cuts jobs in its digital services group, adjusting priorities for priorities for the critical division

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