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Crocs Inc. has partnered with British designer Christopher Kane for a collection of limited edition Swiftwater Sandals embellished with rhinestones. The company made the announcement during London Fashion Week, which is now taking place. “Working with Christopher reinforces our belief that Crocs’ products are incredibly relevant in today’s style arena,” said Crocs Senior Vice President of Global Product and Marketing Michelle Poole. “This collaboration is particularly exciting as we expand beyond our classic silhouette into our popular Swiftwater Sandal style.” Kane has presented his version of Crocs shoes in the past, including a tiger-print pair that are sold in Crocs stores and at select retailers. Crocs shares are up 0.2% in Tuesday trading, and up 34.6% for the year so far. The S&P 500 index is up 12% for 2017 to date.

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Two Republican senators have struck a tentative deal to craft a budget that would allow for a significant tax cut, according to a published report Tuesday. Bloomberg said GOP Sens. Bob Corker of Tennessee and Pat Toomey of Pennsylvania had disagreed over allowing a budget that would add to the deficit. But they hammered out a potential path forward with Senate Majority Leader Mitch McConnell, Corker said, according to Bloomberg. Corker did not specify the amount of the tax cut.

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Shares of General Electric Co. sank 1.4% in midday trade Tuesday, after J.P. Morgan analyst Stephen Tusa reiterated his bearish view on the industrial conglomerate, suggesting that just because the stock keeps getting cheaper doesn’t make it more attractive. Tusa kept his rating at underweight, which he’s had on the stock since May 2016, and his stock price target at $22, which is 8.8% below current levels. He said as the stock’s weakness continues, investors and analysts appear to try to create a bullish narrative, based mostly on how far the stock has fallen and underperformed its peers and the broader market, but analysts have been careful not to raise their ratings. “We believe this defines sentiment on the stock, which is somewhere between somewhat negative, and what we would characterize as ‘chicken bullish,’ with a common theme [that] it’s not that bad, understandable in the context of a sector that typically mean reverts,” Tusa wrote in a note to clients. “This is essentially a denial that fundamentals could be this bad, and there is nothing that simple cost saves can’t take care of, something that was not obvious to the previous 15 years of management.” The stock, which closed at a 2-year low of $23.72 on Sept. 11, has tumbled 24% so far this year, while the Dow Jones Industrial Average has climbed 13%.

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The damage to property from both flood and wind from Hurricane Irma is estimated to be between $42.5 billion and $65 billion, CoreLogic said Tuesday. Flood loss for residential properties from Hurricane Irma is estimated at $25 billion to $38 billion, of which $20 billion to $30 billion – or 80% – is not covered by flood insurance.

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Shares of UnitedHealth Group Inc. sank slumped 1.8% in midday trade Tuesday, enough to pace the decliners in the Dow Jones Industrial Average , after the health insurer disclosed that its vice chairman sold about $10 million worth of stock last week. The stock’s price decline of $3.64 shaved about 25 points off the Dow’s price, which was up 34 points. The stock has not lost 2.6% since it closed at a record of $199.75 on Sept. 1. The company said late Monday in a filing with the Securities and Exchange Commission that Vice Chairman Larry Renfro sold a total of 50,574 shares of UnitedHealth at an average price of $198.1142 on Sept. 15; the shares traded within an intraday range of $197.20 to $199.71 and closed at $198.18 that day. The stock has gained 6.3% over the past three months, while the SPDR Health Care Select Sector ETF has advanced 4.5% and the Dow has tacked on 3.9%.

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From:: Stock Market News