Market Movers: Kohl’s Earnings Miss; Housing Data Rebounds and More

Kohl’s Shares Fall Sharply on Earnings Miss

Kohl’s Corporation (NYSE:KSS) earnings and sales for the latest quarter fell short of analysts’ estimates, the company reported on Tuesday. It also cut its profit outlook for the full year.

The chain, headquartered in Menomonee Falls, Wisc., reported early Tuesday net income during the period fell to $123 million, or 78 cents per share, compared with $161 million, or 98 cents a share, a year ago.

KSS shares dived $9.32, or 16%, to $49.08

Housing Data Rebounds in U.S.

Roofs and walls continued to go up around Americans at a healthy pace, according to figures released Tuesday morning.

U.S. home building rebounded in October and permits for future home construction jumped to a more than 12-year high, pointing to strength in the housing market amid lower mortgage rates.

The Commerce Department said housing starts increased 3.8% to a seasonally-adjusted annual rate of 1.314 million units last month, with single-family construction rising for a fifth straight month and activity in the volatile multi-family sector rebounding solidly.

Yield Growth Announces Appointment of Vivek Taneja as VP, Operations of Subsidiary Flourish Mushroom Labs

The Yield Growth Corp. (CSE: BOSS) (OTCQB: BOSQF) (FSE: YG3) announced the appointment of chemical engineer, Vivek Taneja, as Vice President, Operations of its subsidiary Flourish Mushroom Labs Inc. to oversee the commercialization of the company's functional mushroom products, beginning with organic mushroom coffees. Vivek will also be part of the team developing clinical trials to research innovative therapeutic uses of certain compounds in magic mushrooms.

BOSS shares jumped 5.88 percent to 27 cents