The markets were split once again today as earnings continues to be the major focus. The Dow 30 broke to new highs yet again, finishing higher by 8. The S&P 500 lost 5, and the Nasdaq 100 saw more weakness despite a strong move in Tesla (NASDAQ: TSLA) due to their earnings report. The Nasdaq 100 still sold off 22 on the day. Tomorrow traders will get a look at the all important unemployment rate which is usually a market moving number. Analysts are expecting the rate to drop to 4.3% from 4.4%.
Avon (NYSE: AVP) suffered a sharp, 10.86% decline today as the beauty and makeup company announced earnings that were a miss on both its top and bottom lines. In addition the company announced that CEO, Sheri McCoy is stepping down in March after only five years running the company. The financial media noted that activist investors have been demanding changes in leadership and strategy since 2015. Shares are now lower by over 40% on the year.
Fitbit (NYSE: FIT) shares enjoyed a 14.79% gain today as the fitness wearable s maker announced earnings that showed a loss for the second quarter that was less than expected. Revenue beat analysts expectations and the company also announced it will debut its much anticipated smartwatch this holiday season. All of this sent the bulls rushing in to buy, pushing shares back to the high end of its three month range. Shares are still lower on the year by about 20%.
Yum! Brands (NYSE: YUM) shares were lower by 2.04% today despite reporting earnings, and revenue that were better than expected. Sales at its Taco Bell and KFC stores was cited as the reason for the beat, however analysts noted that its Pizza Hut chain was still weak. The report showed that net profit fell over 40% from a year ago. Shares are still higher on the year by 18%.