Here's what's happening on Wall Street Thursday, Oct. 19:
The Dow Jones Industrial Average and the Standard & Poor's 500 pushed slightly deeper into record territory on the 30th anniversary of the "Black Monday" 1987 market crash.
The DJIA tacked on 5.44 points to a record 23,163.04, while the S&P 500 added 0.84 points to 2,562.10 -- an all-time high. However, the Nasdaq Composite bucked the trend and eased 19.15 points to 6,605.07.
The Dow and S&P 500 records came 30 years to the day that both indices shed more than 20% during the 1987 "Black Monday" crash -- the worst one-day percentage pullback in modern market history. Click here for TheStreet's special report on the 30th anniversary.
Blue Apron Falls 3% in Spite of Layoffs
Shares of Blue Apron (APRN) continued their march lower Thursday after the company announced that it was laying off about 6% of its workforce. "We identified the need to reduce some roles, open others, and streamline decision making for greater accountability," CEO Matt Salzberg said in a company-wide email.
Blue Apron expects to pay out about $3.5 million in severance.
Blue Apron shares have declined about 45% since it debuted in June.
Nike Shares Were Downgraded Tuesday
ESPN is reporting that Nike (NKE) is investigating what went wrong when NBA star LeBron James' jersey ripped down the middle of his back during the NBA's high-profile opening night game Tuesday. James' jersey was split between the two and three on his back after being tugged on by an opposing player.
Nike took over for rival Adidas (ADDYY) this season after signing an 8-year deal with the NBA. It was an ignominious start to the company's new relationship with the league.
Nike shares bounced back from declines earlier in Thursday's session to trade in the green.
Lord & Taylor to Receive Dedicated Space on Walmart Website
Walmart (WMT) negotiating a deal with Lord & Taylor to offer the clothing retailer a dedicated section on Walmart's website, the Wall Street Journal reported, as the company takes the next step in its war against rival Amazon (AMZN) .
The move draws the higher-end shoppers Hudson Bay's Lord & Taylor imprint attracts to walmart.com. Hudson's Bay hasn't been immune from the retail sector's struggles, reporting a 1.6% decline in revenue in the most recent quarter.
SeaWorld to Cut About Hundreds of Jobs
SeaWorld (SEAS) announced that it will be cutting 350 jobs as it looks to right the ship following 2013's "Blackfish" documentary that cratered the park's attendance.
As of the end of last year, SeaWorld employed 5,000 full-time employees and another 8,000 part-time employees, according to Bloomberg.
SeaWorld expects to take a $5.1 million hit from the layoffs. The company identified $25 million in potential cost savings earlier this year.
Philip Morris Was Down 5%
Philip Morris (PM) shares were down nearly 5% premarket after the cigarette-maker reported third-quarter results that were below expectations. The company reported earnings of $1.27 per share, short of Wall Street's $1.39 per share expectations.
For the year, the company expects to earn between $4.75 and $4.80 per share.
Adobe Spikes on Strong Guidance
Adobe (ADBE) expects to earn revenue $8.7 billion for a profit of $5.50 per share in fiscal 2018, ahead of analysts' $8.68 billion and a $5.21 per share expectations for the year.
Growth in the company's cloud business is expected to drive the strong results next year.
Adobe shares were up nearly 8% ahead of the opening bell.
eBay Misses Estimates, Stock Tanks
Shares of eBay (EBAY) were down more than 7% before the opening bell Thursday after the company released its third-quarter earnings results. The company declined in spite of topping analysts' third-quarter top- and bottom-line results after also reporting fourth-quarter guidance below consensus.
The company expects to earn between 57 cents and 59 cents per share in the current quarter, short of the market's 60 cents per share expectations.
Premarket
U.S. futures were in the red across the board Thursday, pointing to a lower opening for U.S. indices which all set record highs the previous session.
Markets in China took a big hit Thursday after the country reported slowing economic growth. The world's second-largest economy grew 6.8% year over year in the third quarter, down from the 6.9% growth rate it reported in the first half of the year.
The Hang Seng dropped 1.78% and the Shanghai Composite fell 0.34% Thursday. The tough session spread to Europe also where all three major indices were also trading lower with about four hours left in trading.
