posted a modest victory on Wednesday ahead of the third quarter earnings
season, which will commence on Thursday morning. The three major indices--the
S&P 500 (+0.2%), the Nasdaq (+0.3%), and the Dow (+0.2%)--settled the
midweek session at fresh record highs, but the small-cap Russell 2000
underperformed, slipping 0.1%. Today
after the close the following companies are scheduled to report
earnings/already reported: HAWK.
Futures are slightly lower after hours: S&P 500 futures are -0.75 from the fair value of 2,553 and Nasdaq100 futures are -1.12 from fair value of 6,084.
Tomorrow morning, economic reports scheduled to be released include Index: PPI (08:30am ET, Consensus 0.4%), Core PPI (08:30am ET, Consensus 0.2%), Initial Claims (08:30am ET, Consensus 255K), Continuing Claims (08:30am ET, Consensus NA).
Tomorrow before the open the following companies are scheduled to report earnings: LNN, C, JPM, DPZ.
In corporate news...
J. Jill (JILL) issued downside third quarter guidance after the close today, citing lower than expected sales trend across both its retail and direct channels, sending shares sharply lower.
The company issued downside guidance for the third quarter with EPS of $0.08 to $0.10, excluding non-recurring items, which came in well below current expectations. Adjusted diluted earnings per share excludes approximately $0.6 million of non-recurring expenses associated with the company's transition to a public company. For the third quarter 2017, the company now expects total company comparable sales of -3% to -5%, with a moderate decline in gross margin as compared to last year.
After the close here, shares of JILL are down 35% (or -3.48) at $6.45/share.
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