U.S. stocks edged back from records highs set last week as resurfacing supply worries took a chunk out of crude prices. Oil ended at a one-week low after an unexpected increase in inventories. Michael Kors (KORS) slid as less mall traffic hurt sales in its recent quarter. The handbag retailer reported a more than seven percent drop in comparable-store sales over its June-ended quarter, though earnings did surpass lowered guidance issued in June. Perrigo (PRGO) slumped after coming in short quarterly expectations, while slashing full-year guidance. The drugmaker reported a drop off in its consumer health division tied to weaker sales in its cough and cold category. SunPower (SPWR) tumbled after detailing plans to cut 15 percent of its workforce and warning of weakness in its power plant business. The solar company also swung to a quarterly sharp loss.
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