Stocks jump on earnings, House tax bill passage
Stocks charging higher as earnings power the way, and tax reform clears a hurdle in Washington. Plus – why Walmart’s blow out quarter proves why Amazon had to get its hands on Whole Foods. And – Tesla’s big reveal just hours away. Can Elon Musk deliver? Plus – forget fintech – is fash-tech the next frontier for Silicon Valley? Why big funds, and Amazon, are suiting up. Catch The Final Round at 3:55 p.m. with Jen Rogers and Yahoo Finance markets correspondent Myles Udland.
Winners and losers
Stocks in the red include Best Buy as revenue and same-store sales missed the mark, Norwegian Cruise Lines as the cruise operator will launch a secondary offering of 10 million shares, and Viacom – shares of the media giant slipping as it missed on earnings and reported a loss in cable subscribers. (more on Viacom)
Stocks in the green today include Time Inc. on reports its in talks with Meredith on a buyout funded by the Koch brothers, Pandora as BMO Capital upgraded shares to ‘outperform’ with a $7 price target, and RH – shares on fire with the shorts getting burned, as the Restoration Hardware parent reported better than expected fiscal 2017 guidance.
VC money flowing into ‘fashtech’
Poshmark — the leading social marketplace for fashion– announcing its latest fundraising haul of $87 million. Bringing the company’s total funding to nearly $160 million. Here with how the fashion tech landscape is shifting. Yahoo Style’s Alexandra Mondalek.
