Wall Street fell in Thursday premarket trading ahead of corporate earnings, which include companies like Nvidia Corp. (NVDA, Financial), TransCanada Corp. (TRP, Financial), Macy's Inc. (M, Financial) and Kohl's Corp. (KSS, Financial).
Kohl's fell more than 5% in premarket trading after reporting financial results for the third quarter. EPS of 70 cents missed analysts' expectations by two cents. Revenue of $4.33 billion beat expectations of $4.3 billion but was flat year over year. The retailer suffered higher costs during the period, having closed stores due to the hurricanes.
The retailer raised its earnings guidance for fiscal 2017, however, due to a 0.1% increase in same-store sales. Kohl's now expects diluted EPS in the range of $3.60 to $3.80, compared to its prior guidance of $3.50 to $3.80.
Further, the company declared a quarterly cash dividend of 55 cents per share, or $2.2 annually.
Gainers
- Sage Therapeutics Inc. (SAGE, Financial)
- H&R Block Inc. (HRB)
- DXC Technology Co. (DXC, Financial)
- Chesapeake Energy Corp. (CHK, Financial)
Losers
- DaVita Inc. (DVA, Financial)
- Activision Blizzard Inc. (ATVI)
- MGM Resorts International (MGM, Financial)
- CSRA Inc. (CSRA)
- Time Warner Inc. (TWX, Financial)
Global markets
The main European stock markets traded lower. The U.K.'s FTSE 100 lost 0.55%, Germany's DAX declined 1.30%, France's CAC 40 fell 1.10% and Spain's IBEX 35 closed 0.73% lower.
In Asia, Japan's Nikkei 225 slid 0.20%, but the other indexes closed higher. China's Shanghai Composite gained 0.36%, Hong Kong's Hang Seng index inched up 0.79% and India’s BSE Sensex climbed 0.10%.
Disclosure: The author holds no positions in any stocks mentioned.
