US STOCKS-Wall St drops as Disney, Macy's lead rout in consumer stocks

miércoles 11 de mayo de 2016 13:00 GYT
 

* Disney falls after rare earnings miss

* Macy's weak report weighs on other retailers

* Fossil hits 6-1/2 yr low on forecast cut

* Office Depot, Staples slump after calling off merger

* Indexes down: Dow 0.70 pct, S&P 0.41 pct, Nasdaq 0.29 pct (Updates to early afternoon)

By Tanya Agrawal

May 11 (Reuters) - U.S. stocks fell on Wednesday as weak earnings reports from Walt Disney, Macy's and Fossil reverberated across the consumer sector.

Disney shares were down 4.5 percent at $101.82 after the company posted a rare earnings miss. The stock was the biggest drag on the Dow, accounting for about 33 points of the index's 120 points fall.

Department store chain Macy's tumbled 13.4 percent to $32.04, while watch maker Fossil sank as much as 34 percent to a six-and-a-half year low of $26.51 after the two companies slashed their full-year forecasts.   Continuación...