It was a strong and consistent green day for the markets today as all the major indices rallied into the close. The Dow 30 had its best day since March adding 222 (1.26%), the S&P 500 gained 25 (1.25%) and the Nasdaq 100 popped 59 (1.26%).
SolarCity (SCTY ) suffered its largest one day decline of the year as the company reported a wider-than-expected loss and gave disappointing guidance. It expects sales of $135 million to $143 million in the second quarter, versus analysts' forecast of $151 million. This disappointment caused a 20.84% decline today alone.
Shares of Allergan (AGN ) rallied off their lows today as the drug maker announced plans to buy back up to $10 billion in stock after completing the $40 billion sale of its generics business to Teva Pharmaceutical Industries (TEVA ). Allergan also reported first quarter results of $3.04 earnings per share on $3.80 billion in revenue. Shares popped 5.28% on the day.
Disney (DIS ) added 1.20% as investors positioned ahead of the earnings report for the fiscal second quarter. Analysts expect "Zootopia" to boost growth for studio entertainment while investors remain concerned about the strength of ESPN. Disney is expected to report a profit increase of 13% from the same period last year.
Lastly, Gap (GPS ) disappointed Wall Street again as the retailer reported that sales dropped 7.4% to $1.12 billion in April, versus $1.21 billion last year. Sales for the first quarter also declined to $3.44 billion compared to $3.66 billion one year ago. Shares lost a whopping 11.51% today on that disappointment.