Kohl's Earnings Beat Leads to Thursday Selloff

Markets rebounded in trading today, with the Dow leading the way in triple-digit gains. At the end of the day, the Dow closed up 191.75 points for a total of 18,252.24. The NASDAQ was the largest gainer in real terms, making 1.39% on the day. It gained 69.11 points and closed at 5,050.80. The S&P 500 also performed well, adding 22.62 points to close the day up to 2,121.10. In overseas trading today, Germany's DAX rallied 212.18 points to close at 11,559.82.

Kohl's Beats Earnings, Is Rewarded With -14% Seloff.  Kohl's (KSS) Q1 earnings beat was swiftly rewarded with a big selloff on Thursday.
Share prices plummeted after the announcement, dropping -9.89 points to close today's trading at $64.62. It was a similar story for Target (TGT), one of Kohl's chief competitors. Target fell over -3% in trading, dropping -2.55 points to close out the daya t $77.26 per share.

Analysts Drive Facebook Share Prices Up.  Chatter from analysts about a possible upgrade has driven Facebook (FB) share prices up today. The company posted a decent Q1, and is expanding its advertising options by hosting user-created blogs. Facebook charged nearly 4% in trading today, up 2.93 points to close at $81.37.

The Safe Money Is On Boston Scientific's Continued Growth.  Boston Scientific (BSX) has had a good year so far, with over 8% growth and rising dividends. The company just posted an earnings beat for Q1, and did well in trading today. Boston Scientific gained 0.68 points on the day, and closed at $17.91 per share.

Avon Trading Halted On Mysterious Bid.  Avon Products (AVP) has been trying to sell off its domestic makeup business for some time now, but today it got an odd offer from a mysterious seller. The offer, which is valued at $8.4 billion was enough to halt trading twice for instability, as share prices soared over 14% at one point. The twist came when Avon reported that they had no offers on the table at the time of the reports, and have had no contact with the alleged buyer. Avon ended the day up 6%, closing at $7.07 per share.

Tech Stretches Rally Into Thursday.  Yesterday's tech rally was the only thing that saved the NASDAQ from dropping into the red. With markets rebounding today, the tech trend continued. Xilinx (XLNX) posted big gains on the day, adding almost 3% to its share prices and closing at $44.99. Qorvo (QRVO) did about as well, with a 2.02 point gain that lifted shares to $76.98. Computer Sciences Corp. (CSC) beat them both, with a 4.29% rally that sent stock prices up 2.77 points. CSC closed the trading day at $67.28.
Published on May 14, 2015
By Aaron Phillips
Aaron Phillips is a financial researcher and journalist based out of Michigan. He regularly writes the IG Daily and IG Weekly columns.

Copyrighted 2020. Content published with author's permission.

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