Dow falters as Walmart weighs
The Dow falters following 6 days of gains as Walmart weighs on the blue chips. Plus – bitcoin blasts back above $11,000 – is the crypto trade back in business? And – Amazon finally giving some Prime members big savings at Whole Foods. We explain. Plus – forget last the recent market selloff, we’re still not even half-way through a 5 year Bull market. Joe Fahmy explains. Catch The Final Round at 3:55 ET p.m. with Myles Udland, Dan Roberts, and Jared Blikre.
Winners and losers
Stocks in the red today include HSBC after a profit miss, although earnings doubled compared to a year ago, Snap as Citi says negative reviews on Snapchat’s redesign could hurt results, and MiMedx Group shares tanking as the biotech name postpones the release of earnings, with an audit committee hiring independent legal and accounting advisors to conduct an internal investigation. Ouch.
Stocks in the green include NXP Semiconductors as Qualcomm announced it has reached a deal with the chipmaker, upping its bid to $44 billion, Chipotle on an upgrade to “hold” at Stifel Nicolaus, based on investor enthusiasm over its new CEO, and Rite Aid – Shares soaring as privately held Albertsons plans to buy the rest of Rite Aid that isn’t being sold to Walgreens Boots Alliance. The combined companies would be worth around $24 billion.
