The back-office software developer reported a surge in revenues and loss expanded. Revenues in the fiscal fourth quarter exceeded the company's guidance.

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Wayfair announced to cut 5% of its global staff. Ross Stores lowered its annual same store sales outlook. Foot Locker earnings revenues and earnings dropped. Deere lifts prices at a faster pace than cost increase.

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Tech stocks led the decliners after investors shied away from high growth stocks after benchmark indexes rallied for four weeks in a row.

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Bath Body Works toned down its optimism after a quarter of weak performance. Estee Lauder sales weakness in Chine and business closure in Russia impacted quarterly earnings. Kohl's agreed to accelerate stock repurchase.

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The warehouse retailer reported rising sales, comparable store sales and higher earnings as consumers search for bargains for essential items.

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Kohl's quarterly net income declined 63% after gross margin fell. The retailer announced a plan to repurchase $500 million of its own shares.

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Cisco said revenues in the fourth quarter were flat and net income declined 6%. The networking gear maker estimated 2023 revenues to rise between 4% and 6%.

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Stocks lacked direction and existing home sales declined for the sixth month in a row in July as buyers struggled to pay for record home prices. Weekly jobless claims held steady.

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Federal Reserve policymakers discussed the risks of higher rates faster but also showed willingness to look beyond the recent decline in oil, gasoline and commodities prices.

The retailer of general merchandise and food said second quarter gross margins and earnings plunged after the company lowered prices to clear excess inventories.

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The discount apparel and home goods retailer said it returned one billion dollar in the first-half of the current fiscal year. U.S. comparable sales declined after consumers curtailed discretionary spending.

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Lowe's Issued Cautious Annual Outlook

Aug 17, 2022
Scott Peters
The home improvement retail chain reported flat quarterly earnings and issued a cautious outlook for the remainder of the year.

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Krispy Kreme's Quarterly Loss Shrank

Aug 17, 2022
Scott Peters
The doughnut chain operator said quarterly loss shrank and lowered it annual revenues estimate.

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The real estate broker lowered significantly its annual revenues outlook and said quarterly loss soared on non-cash expenses.

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Stocks on Wall Street turned lower after retail sales in July were flat and investors digested the latest batch of earnings. Home builders fell after mortgage application volume dropped to a 22-year low.

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