Stocks rip higher as tech, financials lead
Stocks are getting a boost here as tech and financials bounce higher. Plus, Amazon gobbled up the retail world, now getting into the drugstore game. We have the ramifications. And, the week in Trump: He attacks Harley as trade war fears get real. Rick Newman has the score. Plus, what’s the future of cloud computing, and who’s the best pure play in the space? The CEO of Nutanix makes the case. Catch The Final Round at 3:55 ET p.m. with Jen Rogers and Yahoo Finance markets correspondent Myles Udland.
Winners and losers
Stocks in the red include Walgreens on the Amazon/PillPak deal; Chipotle, shares take a dive after its plan to close 65 stores. The restaurant chain plans to spend $135 million to reposition the company as a lifestyle brand; and Starbucks, with shares slipping after it unexpectedly announced CFO Scott Maw will retire at the end of November.
Stocks in the green include Mastercard, as it and Visa are nearing a settlement with the DOJ over credit card swipe fees; McCormick as the spice and sauce maker reports that sales rose 16%, powered by its Frank’s Hot Sauce and French’s brands; and Madison Square Garden, with shares bouncing higher as the company will explore a spin-off of its sports business, which includes the NY Knicks and NY Rangers, from its live entertainment business.
