NEW YORK (CNNMoney)
The three major indexes -- the Dow, the S&P 500 and the Nasdaq -- all started the day down around 0.2%. There's big retail and media news that investors are weighing as they try to figure out whether to buy or sell.
Here's what you need to know:
1) Target reveals breach cost: Target (TGT) reported that its holiday-season credit card breach cost $148 million, to be offset with $38 million in insurance money. The company also lowered its guidance for the second quarter's earnings, which come out on August 20. Its stock is down 4%.
Related: Target's having a rough time
2) Gannett trades ink for engines: Gannett (GCI), which publishes USA Today, announced it would spin off its print assets, which include that newspaper and others across the U.S. The company follows in the path of a number of other media companies separating their print businesses from the more valuable TV and digital properties. Think Twenty-First Century Fox (FOX)spinning off News Corp (NWS) and Time Warner (TWX) ejecting Time Inc. (TIME) The company also said it would buy up the part of auto sales search engine Cars.com it doesn't own for $1.8 billion.
Gannett's stock is flat.
3) Coach: Purse maker Coach (COH) impressed investors with a better-than-expected quarter, but the bar was set very low. Sales and profits did not fall as much as anticipated from the same time last year, but they still declined. North American sales dropped 16% in that time, though increasing international sales softened the blow. The stock is up 4%, leading the S&P 500 in morning trading.
Related: Can this British designer save Coach?
4) International Markets: It's a good day in Europe, where stocks are largely up. The EuroStoxx 50 index is up 0.6%, and the FTSE 100 in the U.K. is up 0.2%. Stocks in Italy and Spain, however are down 1% and 0.7%, respectively. Asian stocks had a mixed day. The Nikkei fell 1%, but Chinese and Indian stocks did well.
First Published: August 5, 2014: 9:58 AM ET
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