Business

Target Corp said on Tuesday that third-quarter profit missed estimates as investments in its online business, higher wages in a tight labor market and price cuts hurt margins and a big jump in inventories ahead of the critical holiday season worried investors.

The U.S. banking sector reported $62 billion in profits in the third quarter, up 29.3 percent from the same period a year ago, according to quarterly data from the Federal Deposit Insurance Corporation.

Jeffrey Gundlach, who runs DoubleLine Capital, said on Tuesday that investors should focus on capital preservation and avoid corporate bonds and Treasuries as inflationary pressures intensify.

CVS Health Corp said on Tuesday that it expects to close its $69 billion purchase of health insurer Aetna Inc after Thursday's Thanksgiving holiday as two states continue to review the transaction.

Amazon.com Inc and private equity firm Blackstone Group are bidding for Walt Disney Co's 22 regional sports networks, including New York-focused Yes Network, CNBC reported on Tuesday, citing sources familiar with the matter.

The U.S. space agency said on Tuesday it would review the workplace culture at SpaceX and Boeing Co , as the two companies gear up to fly astronauts to the International Space Station.