Top Stories
Top Stories
Morning Brief

Retail earnings and North Korea tensions drive Wall Street

Key Points


Global markets and U.S. stock futures were lower again this morning as concern over North Korea tensions persist. The Dow, S&P 500, and Nasdaq all fell for two straight sessions, the first time that's happened since more than a month. (CNBC)

* Producer price index and jobless claims at 8:30 a.m. ET (CNBC)

Retail earnings flood in today. Kohl's (KSS) this morning delivered quarterly profit and revenue that beat estimates. Same-store sales were lower but not as much as expected. Macy's (M) also reports before the opening bell. Nordstrom (JWN) issues its results this afternoon. (CNBC)

Shares of Dillard's (DDS) were plunging in the premarket after the retailer reported a surprise loss. Revenue also missed. The CEO blamed "significant markdowns." (CNBC)

Blue Apron (APRN), a stock that's tanked since last month's IPO, this morning issued a larger than expected quarterly loss. But revenue was beat forecasts. Another recent IPO that's struggling, Snap (SNAP), reports results after the bell. (CNBC)

Chicago Bridge & Iron (CBI) was tanking about 20 percent in the premarket after losing $3.02 per share compared to the 83 cent profit analysts were expecting. The infrastructure services provider suspended its dividend and announced its intention to sell its technology business. (CNBC)

Blackstone-owned Invitation Homes (INVH) has agreed to buy Starwood Waypoint Homes (SFR) in an all-stock deal that would create a $11 billion U.S. single-family rental company. (Reuters)

OPEC raised its collective oil output for a fourth-straight month in July, another sign that it's struggling to stick to a deal to pump less. OPEC has partnered with nonmembers, including Russia, since January on a production cut. (CNBC)


North Korea dismissed President Donald Trump's "fire and fury" warnings as a "load of nonsense" and outlined detailed plans to strike near the U.S. Pacific territory of Guam. The planned missile paths would cross some of the world's busiest sea and air traffic routes. (Reuters)

* Pentagon plan for preemptive strike would launch from a Guam base (NBC News)
* U.S. will use 'any appropriate measures' to combat North Korea, says Trump aide (BBC)

Trump lashed out on Twitter this morning and on Wednesday at the Senate Majority Leader Mitch McConnell, who previously said the president had unrealistic expectations about how quickly legislation could pass. (CNBC)

Tom Barrack, a real estate investor and close friend of Trump, is in talks to become U.S. ambassador to Mexico. The high-profile post, one of the most important in Trump's orbit, has been the subject of intense talks within the administration. (Politico)

The two-year-old U.S. diplomatic relationship with Cuba was roiled by what U.S. officials say was a string of bizarre incidents that left a group of American diplomats in Havana with severe hearing loss attributed to a covert sonic device. (AP)

China has demonstrated a world first by sending potentially unhackable data over long distances using satellites, laying the basis for next generation encryption based on so-called "quantum cryptography." (CNBC)

Facebook (FB) announced a revamped video offering called Watch, which will debut to a limited group of U.S. users at first. The social network did not disclose specific dates. Watch will offer a wide range of programming, including original content. (CNBC)

Consumer Reports said it's no longer recommending any Microsoft (MSFT) laptops or tablets. Based on recent surveys, the product ratings firm predicts 25 percent of these gadgets will present problems within two years of ownership. (AP)

Tesla (TSLA) is close to testing an electric, commercial self-driving truck that can move in "platoons" that automatically follow a lead vehicle. Tesla is getting closer to testing a prototype, according to an email discussion of potential road tests in Nevada. (Reuters)


21st Century Fox (FOXA) beat estimates by a penny with adjusted quarterly earnings of 36 cents per share. Revenue fell slightly short of forecasts on a slide the movie side. Fox cable division revenue, including the turbulent news division, posted a 10.4 percent increase.

Jack In The Box (JACK) fell 6 cents short of consensus estimates with adjusted quarterly profit of 99 cents per share. Revenue also missed. However, comparable restaurants sales rose 0.1 percent compared to forecasts of a 0.2 percent drop.

Live Nation (LYV) came in 10 cents ahead of forecasts, reporting quarterly profit of 29 cents per share. The event promoter's revenue also beat estimates. Concert ticket sales were up 22 percent through the end of July compared to the same period a year ago.

Planet Fitness (PLNT) reported adjusted quarterly profit of 22 cents per share, 3 cents above estimates. Revenue also beat. The fitness chain also raised its full year outlook, and said it expects to see same-location sales up 8 to 9 percent for 2017.

Billionaire John Paulson trimmed his hedge fund's stake in struggling Canadian drugmaker Valeant (VRX) to 6 percent from 6.3 percent. But Paulson said he's still fully supportive of Valeant's leadership. Paulson joined Valeant nearly two months ago.


The PGA Championship, golf's final major tournament of 2017, tees off today at Quail Hollow in Charlotte, North Carolina with Round 1. Coming off his British Open win, Jordan Spieth could clinch a career Grand Slam with a win at the PGA. (

Bruce Springsteen debuts on the Great White Way in October with "Springsteen on Broadway," a series of solo shows at the Walter Kerr Theatre in New York city exploring the rocker's life through his words and music. (LA Times)