US Stocks Mixed; Kohl's Shares Plunge After Q4 Results

U.S. stocks traded mixed this morning, with the Nasdaq Composite gaining more than 100 points on Tuesday.

Following the market opening Tuesday, the Dow traded down 0.38% to 41,750.64 while the NASDAQ gained 0.75% to 17,598.97. The S&P 500 also rose, gaining, 0.15% to 5,623.10.

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Leading and Lagging Sectors

Consumer discretionary shares rose by 1.4% on Tuesday.

In trading on Tuesday, health care shares dipped by 0.7%.

Top Headline

Kohl's Corp KSS shares dipped around 12% on Tuesday after the fourth-quarter FY24 earnings results.

The company reported a fourth-quarter sales decline of 9.4% year-on-year to $5.175 billion, beating the analyst consensus estimate of $5.145 billion. Adjusted EPS of 95 cents beat the consensus estimate of 73 cents.

Kohl's expects FY25 sales decline of 5% – 7%. It expects FY25 EPS of $0.10 – $0.60 versus the Street view of $1.25. Kohl's anticipates FY25 comparable sales to decrease 4% – 6%. Kohl's expects an FY25 operating margin of 2.2% – 2.6% and capital expenditures of about $400 million – $425 million.

Equities Trading UP

Syros Pharmaceuticals, Inc. SYRS shares shot up 126% to $0.2070. Syros Pharmaceuticals recently announced a voluntary delisting from the Nasdaq and SEC deregistration.
Shares of 2seventy bio, Inc. TSVTgot a boost, surging 76% to $4.9343 after the company announced it has agreed to be acquired by Bristol Myers Squibb for $286 million.
Cutera, Inc. CUTR shares were also up, gaining 58% to $0.2040. Cutera, on Monday, announced voluntarily delisting from Nasdaq.

Equities Trading DOWN

Arvinas, Inc. ARVN shares dropped 45% to $9.74 after the company announced topline results from the phase 3 VERITAC-2 Trial of Vepdegestrant Monotherapy Versus Fulvestrant in adults with advanced or retastatic breast cancer.
Shares of LZ Technology Holdings Limited LZMH were down 35% to $10.21.
Sacks Parente Golf, Inc. SPGC was down, falling 32% to $0.1095 after the company initiated a 1-for-30 reverse stock split and announced a rebranding to the name Newton Golf.

Commodities

In commodity news, oil traded up 1.2% to $66.84 while gold traded up 0.5% at $2,913.20.

Silver traded up 1.2% to $32.915 on Tuesday, while copper rose 1.5% to $4.7375.

Euro zone

European shares were mostly lower today. The eurozone's STOXX 600 fell 0.6%, Germany's DAX 40 rose 0.3% and France's CAC 40 fell 0.1%. Spain's IBEX 35 Index fell 0.5%, while London's FTSE 100 fell 0.4%.

Asia Pacific Markets

Asian markets closed mostly lower on Tuesday, with Japan's Nikkei dipping 0.64%, China's Shanghai Composite Index gaining 0.41% and Hong Kong's Hang Seng Index falling 0.01%, India's BSE Sensex falling 0.02%.

Economics

The NFIB Small Business Optimism Index fell 2.1 points to a reading of 100.7 in February, recording the lowest reading since October 2024.

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