Traders at the New York Stock Exchange

Happy nonfarm payroll day. U.S. stocks are trading modestly in negative territory because of disappointment over the monthly jobs report.

The Dow Jones Industrial Average is falling by 65 points to 16,349, the S&P 500 is sliding by 14 points to 1,901 and the Nasdaq is down by 51 points to 4,457. The S&P Retail ETF fell by 1 percent to $39.71.

The report for January said that jobs increased by 151,000 and that the unemployment rate was now 4.9 percent. December was revised down to 262,000 from 292,000. Average hourly earnings shot up by 12 cents. Retail bounced back by adding 58,000 jobs after losing 800 in December. General merchandise stores led the way by adding 15,000 jobs, followed by electronics and appliance stores with 9,000 jobs. The work week increased by 0.1 hours to 34.6 hours in January.

The Estée Lauder Cos. Inc. stock is climbing by 2 percent to $88.81 after the cosmetics brand beat analysts estimates for earnings and sales. In the fiscal second quarter, Lauder delivered earnings per share of $1.22, higher than FactSet’s estimate of $1.11 and sales came in at $3.12 billion, also higher than the estimate of $3.08 billion. Hair care sales rose 9 percent and fragrance rose 7 percent. Only skin care products dropped with a decrease of 3 percent. The company is raising its 2016 sales forecast to 9 percent to 10 percent.

J.C. Penney Company Inc. is considering selling its home office building in Plano, Tex., and leasing it back as a way to reduce outstanding debt and effectively manage expenses. Favorable market conditions and a surplus of space with in the building make the idea an attractive opportunity. J.C. Penney has been in the building since 1992. The stock is flat on the news and while the shares have bounced around, they are still down 5 percent for the past 12 months.

Following Thursday’s market close, Hanesbrands Inc. disappointed investors by missing fourth-quarter earnings estimates. The warm weather and slow traffic caused the company to not get replenishment orders and that brought down sales. The stock dropped dramatically in after-hours trading as it lost over 12 percent of its value and traded near $25.55. This morning the stock is down 8 percent to $26.76.

Deckers Outdoor Corp., the maker of Uggs boots managed to beat analysts’ estimates for its fiscal third quarter and Uggs sales were up 1 percent. Diluted earnings per share of $4.78 were higher than last year’s $4.50 and were 3 cents over the FactSet estimate of $4.75. However, the stock fell by over 5 percent to $46.19 because revenue came in at $795.9 million, below estimates of $831.9 million. The company is realigning brands and closing 20 stores. Gross margins dropped to 49.1 percent from 52.9 percent last year. Fourth-quarter revenue is expected to be $1.86 billion, $100 million lower than the previous guidance.

Also after the close, Elizabeth Arden delivered a fiscal second quarter that missed estimates and the stock dropped over 24 percent to $6.06. Elizabeth Arden Inc. narrowed its net loss by $50.6 million for the quarter ending Dec. 31, posting a $6.3 million loss compared with a $56 million loss in the year-ago period. Arden continues to evaluate its fragrance portfolio, in line with previously announced performance improvement plans. Chief executive officer E. Scott Beattie said that if the company doesn’t see value in a brand, it will either slowly phase it out or decline to renew the license.

Elsewhere, Asian markets were mixed with China and Japan both closing modestly lower, while the Hong Kong Hang Seng closed up 0.6 percent. European markets were also mixed with France and the U.K. trading higher while Germany traded lower.

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