BUZZ-U.S. STOCKS ON THE MOVE-Roundy's, Everyday Health, Otonomy
(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) U.S. stocks were little changed in choppy early trading on Wednesday after data from China appeared to make a case for further stimulus measures from Beijing, while investors braced for a possible hike in U.S. interest rates next month. Dow Jones industrial average futures were down 0.12 percent at 17,694, S&P 500 futures were down 0.14 percent at 2,075 and Nasdaq 100 futures were up 0.10 percent at 4,647.5.
** MACY'S INC, $40.79, -13.25 pct
** NORDSTROM INC, $62.11, -4.05 pct
** DILLARD'S INC, $83.26, -6.60 pct
** JC PENNEY CO INC, $8.45, -2.65 pct
** KOHL'S CORP, $42.84, -6.05 pct
U.S. retailers' shares fell after Macy's reported disappointing Q3 results, blaming a fall in consumer discretionary spending and strong dollar's impact on tourism. JC Penney shares reversed course despite reporting better-than-expected Q3 same-store sales.
Shares of Macy's suppliers Michael Kors Holdings Ltd , Ralph Lauren Corp, Kate Spade & Co, Coach Inc all slipped in morning trading on Macy's comments that poor sales resulted in high inventory levels. Continued...