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) 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) 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) 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) 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) 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.