NEW YORK (CNNMoney)
The three major indexes -- the Dow, the S&P 500 and the Nasdaq -- are all down around 0.4%, with the Dow down 70 points. 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 more than 2%, making it one of the worst performers in the S&P 500.
Related: Target's having a rough year
2) Jamba Juice, Whole Foods jump: Jamba Juice (JMBA) reported a strong quarter off the back of its new program where customers can mix in popular "superfoods" like kale, beets and chia seeds. The initiative started out in California earlier this year, and the company thinks the craze is the key to new growth. The stock is up 11%.
"By year-end, we believe we will have established Jamba as the clear national leader in fresh-squeezed juice," said Jamba CEO James White.
Meanwhile, S&P 500 laggard Whole Foods (WFM) is up 5% leading the index for the day on speculation that activist investor Carl Icahn will soon take a stake in the company.
Related: Can Whole Foods turn itself around?
3) 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.
Related: Gannett spins off newspaper business
Gannett's stock is flat. As a reminder for why Gannett is making the move, Time Inc., which publishes magazines Time, Fortune and People among others, released its first quarterly report since the spin-off. It lost $32 million on $820 million in revenue, and both numbers were worse than the same time last year. The stock is flat.
4) Coach: Purse and accessory maker Coach (COH) impressed investors with a better-than-expected quarter, but Wall Street's 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 over 4.5%.
Related: Can this British designer save Coach?
5) Economic data muddled: A couple of conflicting economic reports aren't helping cheer investors up. The Institute of Supply Management released data that said American manufacturing is gradually expanding, but data provider Markit released similar figures for the service sector that said things weren't moving much either way.
6) International Markets: It's a good day in Europe, where stocks are largely up. The Euro Stoxx 50 index and the FTSE 100 in the U.K. are flat. Stocks in Italy and Spain, however are down 1.5% and 1.3%, 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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