The U.S. stock index futures were losing ground in premarket trading Thursday while tensions continue between North Korea and the U.S. With the dollar up against most of its peers, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite are all in red while gold trades at a two-month high. The yield on 10-year U.S. Treasury Notes is 2.226%.
Kohl's Corp. (KSS, Financial) shares were down more than 9% in morning trading despite the company reporting better-than-expected earnings for its second quarter. EPS of $1.24 beat expectations by five cents and revenue of $4.14 billion beat estimates by $10 million. Further, the company declared a quarterly cash dividend of 55 cents per share, giving a 5.2% dividend yield.
Shares of Dillard's Inc. (DDS, Financial) fell 13% as the company reported a second-quarter loss of 58 cents on revenue of $1.46 billion. Sales declined 2% year over year, but the company beat revenue estimates by $20 million.
On the other hand, shares of Live Nation Entertainment Inc. (LYV, Financial) jumped more than 9% in morning trading. The company reported upbeat earnings. EPS of 29 cents beats estimates by 10 cents while revenue of $2.82 billion beat consensus of $450 million, registering a 29.4% year-over-year growth.
Top gainers
Perrigo Company PLC (PRGO, Financial), Twenty-First Century Fox Inc. (FOX, Financial) (FOXA, Financial), Marathon Oil Corp. (MRO, Financial), Cimarex Energy Co. (XEC, Financial), CSRA Inc. (CSRA, Financial), Newmont Mining Corp. (NEM, Financial), T. Rowe Price Group Inc. (TROW) and Devon Energy Corp. (DVN).
Top losers
Macy's Inc. (M), Alliance Data Systems Corp. (ADS), Foot Locker Inc. (FL), Target Corp. (TGT) and Patterson Companies Inc. (PDCO).
Europe
The European stock exchanges traded in red. The FTSE 100, DAX, CAC 40 and IBEX 35 closed down around 1.44%, 0.94%, 0.46% and 1.03% respectively.
Disclosure: The author holds no positions in any stocks mentioned.
