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Yellen Talkin’ to Senate; Wal-Mart Beats, Kohl’s Misses; JPM Takedown on Twitter

Hot Stock Minute

Yellen is talkin'. The Fed Chair nominee is set to sit down this morning for her Senate confirmation hearing. The event occurs as both the Dow and S&P come off a record close yesterday afternoon. That climb came in part because of Yellen's prepared remarks which have already been released. So, what effect might Yellen have on markets today? Show host Lauren Lyster asks Yahoo Finance Senior Columnist Mike Santoli in the video above.

Kohl's (KSS) is down 9% on its earnings which came out shortly after 7am. The retailer made 81-cents a share, missing estimates by a nickel, and down a dime from a year ago. Revenues were also below expectations at $4.44-billion versus $4.55-billion. Wal-Mart (WMT) is also out with its earnings. The world's largest retailer beat by a penny with earnings of $1.14 a share. Revenues, however, were short of the consensus at $115.69-billion when estimates were for $116.807-billion. Wal-Mart says it was hurt by a surprise decline in same-store sales. It also cited a competitive retail environment. Shares of Wal-Mart have been down about 1% on this report.

The number of weekly jobless claims was higher than expected. Figures were released at 8:30 right as we started streaming live to you. The Labor Department says there were 339,000 new claims filed last week. Estimates were for 330-thousand claims. For point of comparison, the figure we got in the report released last week was 336-thousand.

Snapchat isn't making friends with Facebook (FB). There are several reports the upstart has turned down a $3-billion all-cash bid from Zuckerberg and company. Snapchat has an app that delivers messages and pictures which vanish in 10 seconds. It's wildly popular but has yet to turn a profit. By the way, Facebook shares climbed 4.5% yesterday, but they're still down 2% over the last week. Still, the stock is up 74% year-to-date.

STOCKS TO WATCH

Nordstrom (JWN) reports after the closing bell. Earnings are expected to fall a nickel from last year to 66-cents a share, though that would be on revenue that's ticked up to $2.87-billion. Several things could be at work here: higher expenses related to the company's expansion into Canada. Also the government shutdown. The stock hit a new 52-week high yesterday and is currently up 18% in 2013.

Cisco Systems (CSCO) has been down more than 12% on its earnings which came out after yesterday's close. The maker of networking equipment reported profits of 53-cents a share, beating estimates by 2-cents. But revenues came up short at $12.09-billion. In addition, the company predicts that figure will drop as much as 10% in the current quarter.

Viacom (VIA) reports after today's closing bell. The consensus is for a healthy increase in earnings to $1.44 a share. That would be on sales that have risen to more than $3.5-billion. Key to watch will be sales data for MTV, which was a standout when the company reported three months ago. Nickelodeon will also be crucial for the company's overall earnings. Viacom stock goes into this report up 44% so far this year.

Shoe company Crocs (CROX) is coming off a 9.8% climb yesterday. The stock rose on reports that the company has been holding buyout talks, though at this point it does not appear those discussions will yield any deals. Even with yesterday's gains, the stock is down 6% year-to-date. Crocs has been struggling with slower sales of its signature clogs. It has been trying to expand into other kinds of footwear like wedges and sandals, but so far without much success.

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