The markets sold off today, with the Nasdaq 100 leading the pack. Continued profit taking in the FANG names as well as other recent market supporters like Microsoft (MSFT ) held back the major indices today. The Dow 30 was lower by 144, the S&P 500 closed down 16, and the Nasdaq 100 was the biggest loser, losing 1.39% or 107 points.
Stock News:
Twitter (TWTR ) shares moved lower today by 8% as the street starts to warn investors about Twitter's future performance. Friday the company reported a small drop in Monthly Active Users and guided that users would likely continue to drop going forward, sending shares lower by 20%. This sent many Wall Street firms to downgrade or reiterate their ratings on the stock, expecting further disappointment. $21 - $25 is the new range of targets expected by Wall Street Analysts.
Facebook (FB ) shares continued their post earnings slide today, losing another 2.19% as investors sold off shares of the stock as well as the other FANG names. Following the earnings disappointment shares plummeted to their lowest levels in two months. All of the other FANG stocks were lower on the day.
Netflix (NFLX ) shares sold off 5.70% as the stock broke through the critical trendline support that many had been watching. The stock has been moving lower since reporting earnings that showed a miss in subscribers.
Tyson Foods (TSN ) shares moved to new lows today following earnings results. The company also cited in their full year guidance that trade uncertainties would likely continue to weigh on their performance going forward. Shares are now down over 20% for the year.