The turmoil in global equity markets this week might have left traders moving to safe havens, but some savvy investors have been loading up on the short side of the trade.» Read More
Short sellers are upping their bets on retailers closely tied to the back-to-school season—despite the companies' positive forecasts.
Several companies highlighted strong back-to-school trends in their earnings reports.
U.S.stocks closed higher on Thursday at August highs despite subpar economic data around the world, and after conciliatory remarks from Putin.
Aug 14- Wal-Mart Stores Inc cut its full-year profit forecast, citing higher employee healthcare costs and increased investment in its online business, and the company said heavy discounting was likely to continue into the holiday shopping season.
Discussing earnings expectations for JC Penney, with Charles Grom, Sterne Agee managing director.
Wal-Mart reported earnings in line, but it wasn't a great report. Traffic was down and full year guidance got cut by about 5 percent.
U.S. stock-index futures traded mixed on Thursday after falling slightly on higher-than-expected jobless claims.
Aug 14- Department store chain Kohl's Corp reported a better-than-expected quarterly profit as costs fell, sending its shares up 3.4 percent in premarket trading. Kohl's, which caters to price-sensitive middle-class shoppers and competes with Macy's Inc, J.C. Penney Co Inc and Nordstrom Inc, said net sales fell 1.1 percent to $4.24 billion.
Some of the names on the move ahead of the open.
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.
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.
*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.