Midday Report: Macy's, Kohl's Bring Down Retail Sector; Nasdaq's Win Streak in Jeopardy

Stocks hold lower through the morning session as a disappointing quarter from Macy's sparks a selloff in the retail sector.

Author:: Keris Alison Lahiff
Publish date:: May 11, 2017 11:56 AM EDT

Stocks held lower through the morning session as a disappointing quarter from Macy's (M) - Get Report sparked a selloff in the retail sector. Kohl's (KSS) - Get Report also issued a weak report with a steeper decline in same-store sales than expected. The Nasdaq's four-day record-breaking streak looked to end on Thursday. Symantec (SYMC) - Get Report tumbled after swinging to a loss over its fiscal fourth quarter. The California-based security software developer anticipates first-quarter sales no higher than $1.16 billion, below consensus. DeltaAir Lines (DAL) - Get Report raised its dividend by 50% and approved a new share buyback program. A fresh $5 billion repurchase plan will go into effect once the existing program has been exhausted. 21st Century Fox (FOXA) - Get Report beat analysts' estimates on the bottom line but missed on the top. Revenue in its cable network programming and TV units rose, though filmed entertainment fell.