The markets started the shortened, holiday week by making new all-time highs. The Dow 30 added 88 points, breaking to new highs along with the S&P 500 which also made it to new all time highs, gaining 16. The Nasdaq 100 also had a nice day adding 47. This week trading is expected to be light and there are only a handful of news events due out. Most notably will be the OPEC meeting, and the FOMC Minutes due out on Wednesday.
McDonald's (MCD ) - Ended its five day win streak today (-0.43%) after JP Morgan (JPM ) announced that it would be removing the stock from its analyst focus list due to "limited upside." Last week, the stock surged almost 5% as the company announced plans to expand its digital self-serve ordering stations and table service to all of its US locations. Though it was slightly lower today, the food chain is still up almost 8% for the month of November, and almost 10% off it's lows of the year.
Facebook (FB ) shares shot up 4.06% today as the company announced another feature of Instagram that would compete directly with Snapchat (SNAP ). Facebook launched its version of live video today, which enables users to broadcast and interact with followers. Last week Facebook announced a $6 billion share buyback, which is the first ever for the tech company. According to the details of the company's report, the buyback will start in the first quarter of 2017.
Tyson Foods (TSN ) shares fell off a 14.51% cliff today as the company announced earnings that missed Wall Street analysts' expectations. The company followed that up with a disappointing outlook going forward. According to their report, the company had adjusted earnings per share of 96 cents. Analysts were looking for $1.23 per share The company said "weak sales of beef, pork and prepared foods offset stronger than expected demand for chicken."