premarket thursday

1. Oh, snap!: Shares in Snap (SNAP) fell as much as 25% in extended trading after the company posted a staggering loss in its debut quarter as a public company.

The parent company of Snapchat suffered a loss of $2.2 billion in the March quarter, while sales totaled only $150 million.

Snap is facing fierce competition from Facebook (FB, Tech30), which has incorporated Snapchat-like camera features into Instagram and Whatsapp.

2. Retail earnings: Macy’s (M) and Kohl’s (KSS) are set to report earnings before the bell on Thursday. Both are expected to reveal shrinking profits.

Retailers have been struggling with falling sales, and many have been forced to cut jobs and close stores.

Shares in Macy’s and Kohl’s have lost about one-fifth of their value this year.

Nordstrom (JWN) will report after the closing bell, and it is expected to deliver a more upbeat message. The upscale retailer’s stock has outperformed many of its peers.

3. Laptop ban: Department of Homeland Security officials will speak with airline industry representatives on Thursday about the electronics ban on aircraft as the agency considers an expansion of a security measure, according to DHS…