The Dow Jones Industrial Average, Nasdaq and S&P 500 were all in the red Thursday morning as markets suffered from global uncertainty as a result of heightened threats of nuclear war from saber rattling North Korea.
The Dow was down 101.11 points to 21,947.59 while the Nasdaq fell 65.61 points to 6,286.72 and the S&P dropped 16.45 to 2,457.57.
Industrial battery manufacturer EnerSys (ENS) - Get EnerSys Report was the biggest loser Thursday morning falling 10.6% to $64.68 after the company reported first quarter earnings of $1.12 per share on revenue of $622.6 million. Analysts were expecting the company to report earnings of $1.13 per share.
Tech company NetEase Inc. (NTES) - Get NetEase, Inc. Sponsored ADR (NTES) Report had the second biggest drop Thursday, falling 9.16% to $286.44 after the Beijing-based company reported a profit of $3.86 per share on revenue of $1.97 billion. Analysts were expecting the company to report earnings of $4.02 per share.
Struggling retailer Macy's Inc. (M) - Get Macy's Inc Report was falling 8.14% to $21.14 despite topping analysts' second quarter top- and bottom-line estimates. The company reported earnings of 48 cents per share on revenue of $5.55 billion. Analysts were expecting earnings of 46 cents per share on revenue of $5.52 billion.
Fellow retailer Dick's Sporting Goods Inc. (DKS) - Get Dick's Sporting Goods, Inc. Report was down 7.6% to $34.11 after Consumer Edge lowered estimates on the company ahead of its earnings release on August 18. Strong apparel sales from rival Kohl's Corp. (KSS) - Get Kohl's Corporation (KSS) Report could also be weighing on results.
Kohl's also had a steep drop Thursday despite earnings that topped expectations by a nickel as retailers felt the brunt of the market downturn. The company reported net income of $1.24 per share on revenue of $208 million, a 49% increase from the year ago period.