U.S. stocks start the day in the red. Investors are still worried about a possible interest rate hike in December as well as initial jobless claims that came in a bit higher than expected. The Labor Department said 276,000 people filed for first time jobless claims. Kohl's (KSS) said it beat profit and sales estimates for the 3rd quarter. It credits a strong back to school shopping season. But it did warn that warmer weather could impact sales for the rest of the year. Kohl's is thought to be more weather-sensitive than rivals. Meanwhile, toys are staging a comeback. The U.S. toy industry is poised to have its strongest year in at least a decade this year as kids are choosing more toys over videogames and mobile apps. The NPD Group predicts that annual toy sales will be up 6% over last year to nearly $20 billion. Viacom (VIA) says slow advertising sales and a lack of a big movie hit will hurt its bottom line this quarter. Liberty Media (LMCA) is splitting into 3 different tracking stocks.
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