Kiev Hit with Large Russian Missile Salvo

Adidas Shares Crash After World Cup Spending Fuels Earnings Miss Adidas shares crashed the most on record in Europe after outsized World Cup marketing spending weighed on second-quarter operating profit, overshadowing stronger-than-expected tournament-related sales. Profit totaled 574 million euros for the quarter ending in June, missing the 616 million euro estimate of analysts tracked by Bloomberg, as an additional 212 million euros in spending offset strong sales growth and disappointed investors seeking better margin expansion. The German sportswear maker generated 1.5 billion euros in sales, with jersey sales quadrupling and ball sales...

Futures Fall, Chipmakers Tumble After Samsung Rout; Oil Climbs Stocks fell as freash volatility hit chipmakers after blowout earnings from Samsung Electronics were still not good enough (the company missed some buyside estimates) and left investors wanting even more, and sent its stock tumbling as much as 11%, forcing another 20 minute halt of the Kospi. As of 8:00am ET, S&P futures were down 0.2% and Nasdaq futures fall 1%, with chip stocks sliding in premarket trading (both Micron and Sandisk dropped more than 5%), following a tech led selloff in Asia, while...