The Nasdaq is down roughly 1% while the Dow and S&P 500 hover near -0.50%. Retailers are the big story this week, as the sector continues to post first quarter earnings. Sears and Wal-Mart have shot up, while GameStop and ANF continue to struggle.
Sears Holdings (SHLD): Up 9.3% — Sears Holdings reported a much smaller loss than expected, and have seen their stock surge on the good news.
Wal-Mart (WMT): Up 5.0% — Wal-Mart reported better than expected first quarter results, and had a gain in same-store sales.
GameStop (GME) Down 8.6% — Gamestop’s first quarter earnings fell to 54 cents per share from 56 cents per share a year ago, sparking a sell off this morning.
O’Reilley Automotive (ORLY): Down 6.2% — Advance Auto Parts saw a meaningful slowdown in sales, which has caused O’Reilley’s stock to dip.
Abercrombie & Fitch (ANF): Down 6.2%—After an abysmal earnings report yesterday, ANF continues to get killed in the market.
AutoZone (AZO): Down 5.5%—Much like O’Reilley, AutoZone’s stock is getting pummelled due to the poor news from Advance Auto Parts.