Big Lots turns negative after Reuters reports weak forecast

Shares of closeout retailer Big Lots fell as much as 4 percent in high trading volumes after Reuters reported the company’s weak third-quarter earnings forecast on Aug 24. Reuters was alone with the news that the company expected higher fuel and carrier rates to push up domestic freight costs, hurting margins in the second half of the year. The stock was trading slightly higher in pre-market trading on Big Lots` earnings beat, but turned negative after the outlook.