Shares dropping as much as 6 . What made this company take a turn for the worse the traders are here to break down theout look for in name and a lot of others. Were starting with retailers. That was the story certainly this morning when we were on squawk on the street at the beginning of the trading day, the etf tomahawk tracking the space falling nearly 2 . The worst day in more than a month as retail earnings kick into high gear tonight we bring you good, bad and ugly today. Wow. Sound effects and everything. Retail wreck. Lets start with the gold. Tj maxx bucking the trend closing in the green after a beat on both on the bottom line. But then there was the bad thats home depot. It did get hammered this amp missing revenue expect rations cut the 2019 Sales Forecast but the ugly, that is reserved for kohls, the shares down 19 posting the worst day in more than two years we shall also note we just got results from urban outfitters. You can see it the stock down as much as 14 in the aft
Incredible slide for these shares which are down 50 this year. Thats going to take a very long time, a lot longer than people thought this is a broken growth story for sure they do 80 of their business in north america. Thats where the challenges are. Thats not actually surprising nike has had problems with north america. Everybody is having problems with north america, but youve got to the find companies that can have offsets nike does, so under armour, not only do they have north america exposure but they have product issues, right, all the performance stuff. They dont have lifestyle, thats going to take some time its still expensive because numbers keep coming down even though the stock prices come down, numbers are coming down pretty big time what plank said, we look to close out 2017 do not expect these conditions to improve, he said. Visibility is poor. Right, and youre hoping that kevin has thrown in the kitchen sink here. Do you go and buy this stock here absolutely not because
Gop tax plan. We are only a day in and at least four republicans said they want to vote against the bill as it stands right now. Many prominent trade associations have already said they dont like what they are looking at. President trump headed to asia to meet with state leaders from china, south korea, japan and others. Lets get the latest on bloombergs Kevin Cirilli, our chief washington correspondent. Also joining us is marty shanker, chief content officer. Lets start with marty. The conversation is moving forward towards what happened in congress. People are vetoing this. What is it going to look like at the end . Marty in advance of the release of the bill we set it would be really hard to craft the bill. Now comes the harder part, selling it to legislators who interestsarticular and the provisions of the bill that affect their constituency. With midterms coming up, they have to be able to defend a yes vote, especially the republicans because they will try to do this without any d
Trump about how we could end up in a major, major conflict in his words. Did put some pressure, if you see the nikkei, down about 0. 3 . Same with the hang seng. In europe this morning n some early tlading, things are mixed. The ftse is down by 0. 25 . The cac is up by that much. The dax is up by 0. 10 . With crude oil prices this morning, looks like wti is still below 50. Up 27 cents. Tech stocks on the move this morning. After quarterly reports late yesterday. Lets give around up of whats going on. Amazon eps tops estimates by 36 cents. Saying revenue from the Cloud Business, advertising and Subscription Services helping to drive those results. Alphabet beating the street on both the top and bottom line. Strong ad sales sending profits up 29 , despite some advertisers boycotting youtube. And microsofts ref knew ju revenue just missed consensus. Sales of the Cloud Services platform jumped 93 in the quarter. Last but not least, look at intel. Reporting lower than expected quarterly rev
Year lingered for more than a month. Russia thinks it is sensible to extend the existing deal with opec on Oil Production cuts for at least six months. According to a Government Official with knowledge of the matter, russia exceeded its target of cutting production on monday and the cuts are aimed at firming up oil prices. Opec ministers meet may 25 to discuss extending the agreement. Global news 24 hours a day powered by more than 2600 journalists and analysts in more than 120 countries. This is bloomberg. Live from bloomberg world dquarters in new york, we are 30 minutes from the close of trading here in the u. S. Mixed. Stocks trading after the fed decision. Joe the question is what did you miss . The fed holds rates steady. Interest rates unchanged in the unanimous vote. Another tech giant reported today, facebook reporting firstquarter numbers in a half hour. Can they deliver on mobile ad demand . With a reportive card on the Trump Administration and what the next blacks one could