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Stocks wait for Yellen; BMW next shoe to drop?; TBS brings eSports to primetime

Wall Street is back on Fed watch as Chair Janet Yellen is set to talk about inflation at the University of Massachusetts after the closing bell. 

Yahoo Finance Senior Columnist Michael Santoli notes that stocks (^GSPC) have fallen for two-straight sessions as investors continue to try to decipher what the Fed's decision last week to keep interest rates steady actually means.  And he feels they shouldn't expect Yellen to make that any clearer today.

"Yes, it was a muddled message, but that’s inherently what you get when you are near liftoff," he explains. "So I’m not sure how much clarity she can deliver."

Ahead of Yellen, Wall Street will weigh the latest report on durable goods.  The Commerce Department reports orders for big ticket items such as washing machines fell 2% last month, in line with estimates.

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Netflix fall continues

Now here are some of the stocks the Yahoo Finance team will be watching for you this morning.

Netflix (NFLX) There's no real news here for the streaming video service that produces House of Cards and other programming.  We're just looking at some overall negative market sentiment pulling it and other high fliers lower this morning. Shares of Netflix have fallen for 4 straight sessions...and are down more than 20% since their 2015 high last month.

Accenture (ACN) The professional services firm exceeded profit and revenue estimates in its fiscal fourth quarter.  The professional services firm exceeded profit and revenue estimates in its fiscal fourth quarter. But as we have heard many times this year, Accenture notes that its results were impacted by the negative effects of the strong dollar.  The company is also boosting its semi-annual dividend by 8 cents to a $1.10 a share. 

Steelcase (SCS) The office furniture maker also beat on both the top and bottom lines in the second quarter. Steelcase points to a 6.1% increase in sales in North America...and says adjusted operating margins were the highest in 15 years.  

Worthington Industries (WOR)  Excluding charges, the steel and industrial products maker reported a quarterly profit that topped analysts' forecasts...but revenue missed badly. Worthington says falling steel prices pulled down sales of steel processing by 11%...and lower energy prices reduced demand for oil and gas related products. 

Conatus Pharmaceuticals (CNAT) The San Diego-based biopharma company reports positive results in a Phase 2 clinical study for its experimental drug to treat hypertension for those with liver cirrhosis. The company says the findings represent significant progress in its long-term goals.

Scholastic (SCHL) The educational books and materials company had a less-than-expected quarterly loss...and revenue beat forecasts. Scholastic says it saw gains in demand for classroom books, branded libraries and summer reading programs, plus increases in digital and trade sales.

BMW questioned on emissions

The next shoe may have just dropped in the diesel emissions scandal. German magazine Auto Bild reports BMW’s X3 diesel powered SUV has emitted 11 times the European limit for air pollution during a road test. The same group that tipped off the U.S. regulators on VW’s diesel engine performed the same test here.

For years he was called the Bond King, but is his reign effectively finished? One year after the legendary Bill Gross left Pimco, the Financial Times reports his new fund at Janus Capital has a 2.5% loss, while during the same period Gross’s old flagship fund, Pimco’s Total Return Fund, is UP 1.7%.

It’s Friday Night Lights, but for the virtual gaming set. Time Warner's (TWX) TBS is teaming up with talent agency William Morris Endeavor IMG to create videogame league for players and fans, with live Friday night telecasts of competitions.

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