Harvey Nichols bought by owner of Sports Direct

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Image source, Getty Images By Yasmin Rufo Business reporter Published 13 August 2026, 13:40 BST Updated 5 hours ago Luxury department store Harvey Nichols has been bought by the owner of Sports Direct, which warned a "significant restructuring" was needed to ensure the 200-year-old business remains sustainable. Mike Ashley's Frasers Group will take control of the Harvey Nichols stores, including its flagship in Knightsbridge, as well as the international franchise. The department store was immortalised in BBC sitcom Absolutely Fabulous, but had faced challenges in recent years. The firm had appointed administrators in June. Michael Murray, Frasers' chief executive and Ashley's son-in-law, called the store a "British institution with significant potential" but added "clear meaningful change is needed". "The turnaround will require tough choices and we are prepared to make those decisions, even if that means a smaller business in the near t...

Stocks making the biggest moves midday: Wendy's, H&R Block, Quantinuum, CoreWeave, Cava & more

Stocks making the biggest moves midday: WEN, HRB, QNT, CRWV, CAVA Skip Navigation Markets Business Investing Tech Politics & Policy Video Watchlist Investing Club PRO Livestream Menu Check out the companies making the biggest moves midday: Wendy's The fast-food chain's stock jumped 13% after The Financial Times reported, citing sources, that Nelson Peltz' Trian Fund Management was preparing a bid to take the company private. National Vision Shares of the optical retail company tumbled 6% after full-year guidance failed to impress Wall Street. National Vision sees adjusted earnings in a range of 94 cents to $1.09 per share on revenue of $2.037 billion to $2.076 billion. Analysts polled by FactSet sought 96 cents a share and $2.06 billion. Aecom Shares dropped 6% on weak results for the construction developer's fiscal third quarter. Aecom reported revenue of $3.59 billion, down around 14% year over year. Net service revenue in the Americas came in at $808.4 million, below a FactSet forecast of $1.24 billion. Quantinuum Shares rallied more than 21% after the quantum computing company issued better-than-expected revenue guidance for 2026. Quantinuum expects full-year revenue in a range of $28 million to $32 million. Analysts polled by FactSet anticipated an outlook around $26.5 million. Velo3D Shares jumped 12% after the 3D printing tech company raised its revenue outlook for the full year. Velo3D sees revenue in a range of $65 million to $75 million, up from its earlier call for $60 million to $70 million. The FactSet consensus anticipated $64.4 million. Super Micro Computer The data center infrastructure stock rallied 14% after Super Micro Computer issued rosy guidance for first-quarter earnings and revenue, in addition to exceeding fourth-quarter estimates. The company expects adjusted earnings in the range of $1.01 to $1.10 per share, far above the LSEG consensus estimate of 76 cents per share. Revenue guidance in the range of $14.5 billion to $15.5 billion also topped the anticipated $11.68 billion. CoreWeave The artificial intelligence cloud company saw shares gain 18%. Second-quarter adjusted operating income margin came in at 5% compared to the StreetAccount consensus estimate of 2.7%. Revenue of $2.58 billion was up 112% from the year-ago period, and it came in ahead of the $2.56 billion expected, per the LSEG consensus estimate. Lumentum Holdings Shares rose 15% after the maker of optical and photonic products posted fourth-quarter adjusted earnings and revenue that exceeded expectations. The AI beneficiary's stock has more than doubled year to date. Nebius Group The AI infrastructure stock jumped more than 25% after the company reported better-than-expected EBITDA and revenues compared to analysts polled by FactSet's consensus estimates. Gross margins were also stronger than estimates too. Coherent The optoelectronic devices manufacturer's stock was boosted by Lumentum's earnings, ahead of its own set to be delivered after the bell on Wednesday. Shares jumped more than 9%. H & R Block Shares surged 15% after H & R Block issued an upbeat forecast for the 2027 fiscal year. The company sees adjusted earnings in a range of $6.04 to...

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