Markets started strong today but struggled to hold those gains throughout the day. The Dow 30 held on to a 7 point gain (0.04%), the S&P 500 gained 5 (0.28%), and the Nasdaq 100 only managed a 2 point gain (0.05%).LinkedIn (LNKD ) suffered a 3.55% decline today as MKM Partners downgraded the stock from buy to neutral. The analyst firm cited concerns that growth in online job postings may have peaked. The firm also lowered its price target by $20 per share to $130.
Gap (GPS ) fell a whopping 13.87% today, closing near the lows of the session as the retailer reported sales for stores opened at least a year fell 6% in March. The company added to the negative report by calling the month "challenging." Gap also warned that excess merchandise is expected to "pressure its gross margin rate" for the first quarter.
Facebook (FB ) fell another 2.65% today even as Credit Suisse (CS ) added the social network to its top picks in the internet space. The bank has a price target of $140 per share, implying a 23% upside for the stock. Technical traders noticed the short term trend change and sold heavily today.
Twitter (TWTR ) lost 1.94% after the social network appointed PepsiCo CFO Hugh Johnston and LastMinute.com founder Martha Lane Fox to its board. Twitter announced the move in a regulatory filing.
Under Armour (UA ) underwent a 2-for-1 split after issuing Class C shares to existing shareholders.
