Late Rally Moves Markets Out of the Red
All three exchanges posted an excellent day today. The Dow was up 82.08 points and closed at 17,924.06. The NASDAQ and S&P 500 both made gains as well, with the NASDAQ up 25.91 and the S&P rising 7.85 points. In overseas trading today, Germany was steady while all of Asia took a fairly big dive. Japan's Nikkei lost -236 points and the Hang Seng was down -350.
Yelp Spikes Amid Leaked Details Of Sale. Online restaurant review website Yelp (YELP) was caught today, when papers indicating that it was putting itself up for sale were leaked to the public.
Yahoo! and AliBaba Rise On Earnings. Search and digital entertainment provider Yahoo! (YHOO) and its longtime business partner overseas-marketplace Alibaba (ABAB) were both up on better than forecast earnings. Alibaba, especially, was hot in the first quarter. Yahoo! gained 5%, or 2.21 points on the day, and shares closed at $43.87. Alibaba Holdings gained 7.50% today, up 6.00 points to close at $86.00.
Keurig Down Another 10%. Coffee machine makers Keurig Green Mountain (GMCR) revolutionized offices a few years ago with the release of their Keurig machine, but since the initial breakthrough the company has been plagued by mismanagement. Shares are down a further 10% today, falling almost 10 points to close at $98.16. Consumers are moving away from Keurig's wasteful, expensive design and back toward traditional coffeepots, at least in their own homes. Keurig has been designing refillable and recyclable coffee pods in order to counter the trend, but has largely failed so far.
Whole Foods And Shake Shack Plunge. Americans have never been known as being picky eaters, but Whole Foods (WFM) and Shake Shack (SHAK) are feeling some pressure right now. Both stocks dropped big today, after an indication that sales were low and likely to stay that way through the summer. Whole Foods plunged -9.75% today, losing -4.65 points per share to close at $43.07. Shake Shack mirrored Whole Foods, falling -9.09 points to close down to $66.04 per share.
Tesla Stock Up On Earnings. After a premarket rally and other signs of early buzz, Tesla (TSLA) stock closed the day up after a better than expected earnings report. Share prices, which rose more than 2% in premarket, ended the day another 2.76% higher. That all amounts to movement of over 5 points in the span of a day. Tesla stock prices are at $236.80 per share.