Stocks Slid For 5th Session (SHLD, WMT, JPM, SSI, GLOG, PLCE)

U.S. stocks continued to fall on Thursday pressured by ongoing uncertainty in Greece, where another round of voting is set next month.In the economic news, Jobless claims were flat at a seasonally adjusted 370,000 in the week ended May 12, the Labor Department said. Initial claims from two weeks ago were revised up to 370,000 from an initial reading of 367,000. Filings for jobless benefits are a rough gauge of whether layoffs are rising or falling. Economists surveyed by MarketWatch had projected claims would fall to 367,000 in the latest week.Also, The Philadelphia Federal Reserve said its manufacturing index sank to -5.8 in May from 8.5 in April, marking the first negative reading since September. Economists polled by MarketWatch were expecting the index to increase to 10.0.The Dow Jones Industrial Average fell -49.23 (-0.39%) to 12,549.32, and the Standard & Poor's 500-stock index fell -6.17 (-0.47%) at 1,318.63. The Nasdaq Composite lost -22.25 (-0.77%) at 2,851.79.

JPMorgan Chase & Co.(NYSE:JPM) lost another 2.60% after the New York Times reported the bank’s trading loss announced last week had widened from $2 billion to more than $3 billion during the last four trading sessions.​
Sears Holdings Corporation(NASDAQ:SHLD) shares are soaring this morning as the struggling retailer announced to separate its Canadian unit by off loading its current stake. The company is expected to reduce its current stake in Sears Canada by 44% to 51%, with an option to offload further stake “subsequent to the spinoff.” Shares of SHLD are up 8.505.

Wal-Mart Stores, Inc.(NYSE:WMT) is another retail company, which is showing solid strength in the opening session as the company reported a 10.10% jump in its first quarter profit, topping analysts’ estimates.
The company reported net income of $3.74 billion, or $1.09 per share, compared with a year ago profit of $3.39 billion, or 97 cents per share. Net sales excluding membership fees from Sam's Club rose 8.6 percent to $112.2 billion. Analysts had expected $1.04 per share on net sales of $110.5 billion. Shares of WMT are up 5.17% to $62.25.

Stage Stores Inc  (NYSE:SSI) posted first-quarter net loss of $418 million or $0.01 per share, as compared to $461 million or $0.01 per share last year. Adjusted net income for the quarter was $1.4 million, or $0.05 per share. . Net sales grew to $365.69 million from $346.48 million in the prior-year quarter. Analysts expected the company to report loss of $0.02 per share on revenues of $364.27 million.

GasLog Ltd (NYSE:GLOG) shares gained 7.99% to $11.90 in the pre-market hour after the company posted first-quarter profit of $2.2 million, or $0.06 a share, from $5.0 million, or $0.13 a share, a year earlier. Revenue rose 2% to $16.6 million. Analysts were expecting a profit of $0.03 a share on revenue of $18.5 million.Looking forward, the company expects fiscal 2012 profit will be lower than in fiscal 2011.

Children’s Place Retail Stores, Inc. (NASDAQ:PLCE) reported first-quarter GAAP net income of $23.59 million, or $0.96 per share, as compared to $29.08 million or $1.10 per share last year. Adjusted net income for the quarter was $27.1 million or $1.10 per share. Net sales rose 2% to $438.51 million.  Analysts expected earnings per share of $1.05 on revenues of $446.99 million for the quarter.