Stocks jump as financials lead the way
Stocks are getting a nice boost today with the financials, for a change, leading the way. Plus, Tesla is on fire as Elon Musk says it’s all systems go. Is it time to get back on this trade or be wary? And – a new bitcoin ETF is in the works, but, it’ll cost you. We have the latest in crypto. Plus a look ahead to everything you need to know about tomorrow, today.
Winners and losers
Stocks in the red include Brown-Forman as fourth-quarter profit at the Jack Daniels distiller declined due to higher costs; Yelp as Keybanc downgraded the review site to Sector weight pointing to signs of weakening customer engagement; and Ambarella, with shares of the camera component supplier lower despite an earnings beat, as it gave weaker than expected current quarter revenue guidance.
Stocks in the green include Signet as the Zales and Kay Jewelers owner beat on earnings and reaffirmed guidance — note: short interest for Signet is nearly 20%; Valeant as Barclays upgraded the drugmaker to Overweight citing business stabilization and new product pipeline growth; and Northrop Grumman, with shares higher as the defense contractor received approval for its deal to buy rocket maker Orbital ATK for $7.8 billion in cash.
