US STOCKS-Wall St drops as Disney, Macy's weigh on consumer stocks

miércoles 11 de mayo de 2016 09:58 GYT
 

* Disney falls after rare earnings miss

* Macy's weak report weighs on other retailers

* Office Depot, Staples slump after calling off merger

* Indexes down: Dow 0.48 pct, S&P 0.35 pct, Nasdaq 0.41 pct (Updates to open)

By Tanya Agrawal

May 11 (Reuters) - U.S. stocks fell on Wednesday as oil prices surrendered early gains and weak results from Walt Disney and Macy's weighed on consumer discretionary stocks.

Disney shares were down 5.5 percent at $100.71 after the company's results missed expectations as advertising and subscriptions declined at ESPN.

The stock was the biggest drag on the Dow, accounting for about 35 points of the index's 80 points fall.

Macy's sank 7.8 percent to $34.14 after the department store operator slashed its full-year sales forecasts. Macy's weak report dragged down other department store chains with J.C. Penney, Kohl's, Nordstrom and Dillard's falling between 2 to 6 percent.   Continuación...