Wal-Mart's shares were were down 3% to close at $74.41.

Shares of Kohl's ( KSS) were up over 5% to close at $53.51, even though the company reported a year-over-year decline in earnings, meeting the second-quarter consensus EPS estimate of $1.04.

Turning to the financials, the KBW Bank Index ( I:BKX) was down over 1% to 64.56, with all 24 index components showing afternoon declines. Big banks seeing 2% declines included Bank of America ( symbol), which closed at $14.32; Capital One ( symbol), closing at $67.01; JPMorgan Chase ( symbol), at $53.29; KeyCorp ( KEY), at $12.08; SunTrust ( STI), at $34.38; State Street ( STT), at $67.80 and Morgan Stanley ( MS), at $26.36.

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-- Written by Philip van Doorn in Jupiter, Fla.

>Contact by Email.

Philip W. van Doorn is a member of TheStreet's banking and finance team, commenting on industry and regulatory trends. He previously served as the senior analyst for TheStreet.com Ratings, responsible for assigning financial strength ratings to banks and savings and loan institutions. Mr. van Doorn previously served as a loan operations officer at Riverside National Bank in Fort Pierce, Fla., and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a bachelor of science in business administration from Long Island University.

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