A quarter of the S&P 500 companies report earnings next week, and that could buffet the market as investors await the July Fed meeting.Market Insiderread more
Iran's Revolutionary Guard claims a British tanker it still holds, Stena Impero, failed to follow international maritime rules.World Newsread more
Amazon hires Trump-allied lobbyist Jeff Miller as battle for Pentagon contract heats up.Politicsread more
In a series of tweets, the president addressed an unusual controversy stemming from a speech delivered Thursday by New York Fed President John Williams.Marketsread more
"You need to understand that we're about to embark on the busiest week of the year for industrial earnings," CNBC's Jim Cramer says.Mad Money with Jim Cramerread more
Boston Federal Reserve President Eric Rosengren is lining up against an apparent push to cut interest rates, telling CNBC in an interview Friday that the central bank can...The Fedread more
The MTA reported that the 1, 2, 3, 4, 5 and 6 trains are all facing delays due to a network communications issue impacting service in both directions, NBC New York reports.Transportationread more
Companies aren't waiting for the U.S.-China trade war to be resolved, says the head of the world's biggest money manager.Investingread more
US officials including Treasury Secretary Steven Mnuchin and White House economic adviser Larry Kudlow will host a meeting at the White House on Monday of semiconductor and...Technologyread more
Trump's constant berating of the Fed and its actions does not influence the central bank's decisions, Boston Fed's Eric Rosengren says.The Fedread more
The lawsuits allege J&J's talc-based baby powder contained asbestos and caused ovarian and other cancers.Health and Scienceread more
Department store chain Kohl's cut its full-year earnings forecast after reporting lower-than-expected quarterly results as fewer customers visited its stores, leading to a surprise fall in same-store sales.
Shares of Kohl's, which caters mainly to middle-income shoppers, fell sharply after the report Thursday amid concerns of increasing competition going into the holiday season.
The company reported a 1.6 percent drop in same-store sales in the third quarter ended Nov. 2, missing the average analyst estimate of an increase of 0.7 percent, according to Thomson Reuters.
Kohl's results mirrored those of Wal-Mart Stores, which reported an unexpected decline in U.S. comparable-store sales, citing a competitive retail environment.
Close rival Macy's, however, reported higher-than-expected quarterly sales on Wednesday, helped by more discounts and promotions.
(Read more: )
"With Macy's raising the top-line bar yesterday, (Kohl's) material same-store sales shortfall raises competitive concerns going into the fourth quarter," JP Morgan analyst Matthew Boss wrote in a note.
Kohl's Chief Financial Officer Wesley McDonald told analysts on a conference call that inventories at the end of October were up 2 percent from a year earlier.
Chief Executive Kevin Mansell said customer traffic was lower than expected in September, but improved at the end of October.
The company said it would increase its spending on marketing ahead of the holiday season to attract more shoppers.
Kohl's also said it would sell women's apparel and accessories brand Juicy Couture and men's apparel brand IZOD beginning fall 2014.
The company will license Juicy Couture from Authentic Brands Group and IZOD from PVH.
Juicy Couture, once owned by Fifth & Pacific, was sold to Authentic Brands last month for $195 million.
Kohl's said it expected same-store sales to be flat to up 2 percent in the current quarter. Total sales are expected to fall 2-4 percent.
(Related video: Consumers lack confidence: Pro)
The company cut its full-year earnings forecast to $4.08-$4.23 per share from $4.15-$4.35. Analysts were expecting $4.23 per share.
"This guidance assumes continued weakness at the company," Stifel Nicolaus analyst Richard Jaffe wrote in a note.
Kohl's net income fell 18 percent to $177 million, or 81 cents per share, in the third quarter. Revenue declined 1 percent to $4.44 billion.
(Read more: Retailers push Black Friday earlier)
Analysts on average had expected profit of 86 cents per share on revenue of $4.55 billion.