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J.C. Penney Co. Inc. shares were up 2.9% in premarket trading after it said it saw a 3.9% year-over-year same-store sales increase during the November and December holiday selling season. Same-store sales increased despite the affect of unseasonable weather on apparel sales because of the focus on private brands, digital sales and merchandise selection, said Chief Executive Marvin Ellison said in a statement. Online sales were also at record levels, and Ellison said many customers took advantage of the buy-online-pick-up-in-store option.

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Walgreens Boots Alliance Inc. said Thursday it had net income of $1.1 billion, or $1.01 a share, in its fiscal first quarter, compared with $850 million, or 89 cents a share, in the year-earlier period. Adjusted per-share earnings came to $1.03, ahead of the FactSet consensus of 96 cents. Sales rose 48.5% to $29 billion, just below the FactSet consensus of $29.251 billion. The company said it is raising the low end of its outlook for fiscal 2016 adjusted EPS by 5 cents to $4.30 to $4.55. The current FactSet consensus is for full-year EPS of $4.44. Shares fell 1.4% in premarket trade, but are up 4% in the last 12 months, while the S&P 500 has lost 1.8%.

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KB Home said Thursday it had net income of $44 million, or 43 cents a share, in the fourth quarter, down from $852.8 million, or $8.36 a share, in the year-earlier period, which was boosted by a tax gain. Revenue rose 24% to $985.8 million. The FactSet consensus was for EPS of 50 cents and revenue of $1.068 billion. “While inclement weather and trade shortages in certain markets tempered our fourth-quarter deliveries and revenues, we have a positive rhythm in our business and substantial momentum as we enter 2016,” Chief Executive Jeffrey Mezger said in a statement. The company had a backlog of $1.28 billion at the end of the quarter, up 40% from the year earlier. The number of homes in backlog rose 36% to 3,966. Shares were not yet active in premarket trade, but are down 28% in the last 12 months, while the S&P 500 is down 1.8%.

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Stocks in London sank on Thursday, with resource companies leading the charge south after another trading halt in China and a major selloff in oil prices. The FTSE 100 index slumped 2.7% to 5,907.89, setting it on track for its lowest close since mid-December. For the week, the London benchmark was looking at a more than 5% drop, which would be the largest since August. The depressed trading mood followed steep losses on Chinese markets, which came after the People’s Bank of China allowed the yuan to fall further against the dollar. Sliding oil prices also hit investor sentiment, as crude oil [s:clg6] traded around the lowest level since 2003, below $33 a barrel. Miners topped the list of decliners in London, tracking most metals lower. Shares of Anglo American PLC slid 9.5%, Glencore PLC [:s glcnf] fell 6.8% and BHP Billiton PLC erased 6.2%. The only miner on the rise was Randgold Resources Ltd. , up 0.2%, benefiting from safe haven flows to gold. Among energy companies, shares of BG Group PLC dropped 6.3% and BP PLC lost 5.3%.

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U.S. stock futures slumped on Thursday, indicating a downbeat open on Wall Street as another trading halt in China and sliding oil prices fueled heavy selling. Futures for the Dow Jones Industrial Average lost 332 points, or 2%, to 16,506, while those for the S&P 500 index dropped 42.40 points, or 2%, to 1,945.50. “China was once again at the center of the storm after the People’s Bank of China sharply devalued the yuan, fixing it at its lowest midpoint since 2011,” said Craig Erlam, senior market analyst at Oanda in a note. “The move triggered another meltdown by investors, exacerbated once again no doubt by the new circuit breaker rules [in China],” he added. Oil was also a major concern to investors, with crude oil sliding more than 4% to trade around the lowest level since 2003.

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European stock markets moved sharply lower at the open on Thursday on the back of more turbulence in China, where markets were halted for trade after significant losses. This is the second time this week newly-implemented circuit breakers in China have been triggered by steep falls in the stock market. In Europe, the Stoxx Europe 600 index slumped 2.2% to 346.66, setting in on track for its lowest close since September. Germany’s DAX 30 index [x: dx:dax] lost 2.7% to 9941.28, sliding below the 10,000 level for the first time since mid-October. The U.K.’s FTSE 100 index gave up 1.8% to 5,955.45, while France’s CAC 40 index dropped 2.2% to 4,380.63. Italy’s FTSE MIB fell 1.9% to 20,045.32.

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Yahoo Inc. is preparing to slash at least 10% of its workforce, according to a report Wednesday night by Business Insider. That would eliminate more than 1,000 jobs, according to the report, and cuts may begin as soon as this month. The Sunnyvale, Calif., Internet giant has been reeling in recent years. CEO Marissa Mayer’s turnaround efforts have largely failed, and activist investors are calling for change. This week, Starboard Value LP urged the company to shake up management and overhaul its strategy. Yahoo shares fell more than 35% last year.

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