The markets were mostly flat today until comments from the Fed Chair woman sparked a buying frenzy. All the major indices finished comfortably in the green today. The Dow 30 finished up 80 (0.47%), the S&P 500 closed up 11 (0.57%) and the Nasdaq 100 gained 35 (0.75%).Plunging over 50% yesterday after reporting disappointing earnings and slashing its revenue forecasts for the current quarter and the year, shares of Valeant Pharmaceuticals (NYSE: VRX) were positive to start the day. Unfortunately they didn't hold all the gains, closing only slightly in the green (0.06%). Shares of the Canadian drug-maker are now off 87% from their 52-week high. The company also said yesterday a delay in filing its annual report could put some of its debt in risk of default.
LinkedIn (NASDAQ: LNKD) had a rough day today as it lost 4.97%. The professional network's stock tumbled after Morgan Stanley downgraded the company to equal-weight from overweight and slashed its 12-month price target to $125 from $190. That's still a 6% premium to Tuesday's close but analyst Brian Nowak said LinkedIn "isn't likely to be as big of a platform as we previously thought." Shares have been severely under pressure since late last year.
Lastly, shares of Tesla (NASDAQ: TSLA) continued its recent acceleration today, gaining 1.64%. Oppenheimer's Colin Rusch said he remains bullish on the electric car maker as it prepares to release its Model 3 in two weeks. Oppenheimer maintains a $340 prices target, which is 56% higher than today's close.