Short sellers are upping their bets on retailers closely tied to the back-to-school season—despite the companies' positive forecasts.» Read More
Aug 14- Department store chain Kohl's Corp reported a 1.1 percent decline in quarterly sales, largely due to lower traffic at its stores. The company's net sales fell to $4.24 billion in the second quarter from $4.29 billion a year earlier.
Kohl's Corp. fell$. 82 or 1.5 percent, to $55.11. Macy's Inc. fell $3.29 or 5.5 percent, to $56.47. Nordstrom fell$. 59 or. 9 percent, to $68.12.
NEW YORK, Aug 13- U.S. stocks ended higher on Wednesday, with the Dow Jones industrial average returning to positive territory for the year, as surging biotech shares helped investors shrug off disappointing retail sales data.
Macy's Inc quarterly earnings missed analysts' estimates and the department store operator slashed its full-year same-store sales forecast, driving the stock down 5.5 percent to $56.47. Other major retailers, including Wal-Mart Stores Inc, are expected to report results on Thursday. Wal-Mart shares slipped 0.3 percent to $74.03.
U.S. stocks closed higher for the third time in four days as a rally in tech, airlines and biotech firms helped lead gains.
Stocks have hit an air pocket, floating higher as investors for now look past all the worries of the last couple of weeks.
NEW YORK, Aug 13- U.S. stocks rose on Wednesday, with the Dow returning to positive territory for the year as the market shrugged off weak earnings reports and a slump in retail shares. Biotech shares surged, with the Nasdaq biotech index climbing 2.1 percent on the back of stocks including InterMune Inc and Jazz Pharmaceuticals PLC.
There's decent economic data, but a number of companies are still not getting much traction. Macy's is a good example of this.
Kohl's Corp. fell $1.03 or 1.8 percent, to $54.90. Macy's Inc. fell $3.43 or 5.7 percent, to $56.33. Nordstrom fell$. 84 or 1.2 percent, to $67.87.
*Amazon boosts Nasdaq after introducing card device. NEW YORK, Aug 13- U.S. stocks rose on Wednesday, with the Dow returning to positive territory for the year as signs of easing tensions in Ukraine overshadowed weak readings on consumer spending.
Take a look at some of Wednesday's midday movers:
Macy's reported quarterly earnings that missed analysts' expectations and said the full year would be weaker than expected.
*Amazon introduces card device, shares rally. NEW YORK, Aug 13- U.S. stocks rose on Wednesday, with the Dow turning positive for the year as investors sought bargains amid signs of easing tensions in Ukraine and Iraq, which overshadowed some weak reads on the retail sector.
Kohl's Corp. fell $1.40 or 2.5 percent, to $54.53. Macy's Inc. fell $2.30 or 3.8 percent, to $57.46. Nordstrom fell $1.23 or 1.8 percent, to $67.48.
Kohl's Corp. rose$. 11 or. 2 percent, to $55.83. Macy's Inc. fell$. 09 or. 1 percent, to $60.12. Nordstrom fell$. 78 or 1.1 percent, to $69.16.
U.S. stocks pared gains in light volume trading on Monday as investors looked for signs of easing in geopolitical tensions.
Kohl's Corp. rose$. 28 or. 5 percent, to $56.00. Macy's Inc. fell$. 13 or. 2 percent, to $60.08. Nordstrom fell$. 54 or. 8 percent, to $69.40.
Kohl's Corp. fell$. 21 or. 4 percent, to $55.51. Macy's Inc. fell$. 01 or percent, to $60.20. Nordstrom fell$. 52 or. 7 percent, to $69.42.
U.S. stock-index futures pointed to a higher open on Wall Street on Monday, on hopes that interventions in Iraq will prove limited.
Despite overseas unrest, Cramer thinks the backdrop for stocks is relatively bullish. Here's what's on his calendar.