The stock market finished the week mostly positive, marking positive gains for 6 straight days. Every day was positive this week for the Dow and S&P 500 as the markets continue to try and erase the losses seen earlier in the month. The Dow 30 was higher by 16, the S&P 500 added 1, and the Nasdaq 100 lost 16.
Caterpillar (CAT ) held back the Dow today as the IRS decided to add another $300 million to the company's tax bill, which now totals $2.3B. Caterpillar continues to argue that its offshore tax strategy is legitimate, and said that the $300 million will not have a major impact on the company's health. Shares were lower on the day by 2%.
YouTube (GOOGL ) seems on track to earn more in advertising revenue than streaming giant Netflix (NFLX ). Analysts at R.W. Baird have predicted that YouTube is expected to reach $15 billion in ad sales this year, whereas Netflix is only on track for around $12 billion. We'll know soon, as Alphabet, YouTube's owner, is expected to report their earnings from revenue on YouTube ads shortly. Shares of Alphabet were higher on the day by about a half of a percent.
In other news, Coca Cola (KO ) announced earnings that were better than Wall Street's expectations. The holiday quarter was good to the beverage giant and shares were higher by 0.70% on the day.
Jack in the Box (JACK ) shares were higher by almost 6% on news that an activist investment group upped their stake in the company. Jana Partners now owns 7.3% of the company worth around $134 million. The company recently sold their Qdoba brand to Apollo for $305 million.