The markets were mixed today as the Fed minutes suggested a rate hike may be coming soon. The Dow 30 was up 33, the S&P 500 lost 2, and the Nasdaq 100 was off by 5. Tomorrow investors will get a look at unemployment claims as well as crude oil numbers later in the morning.
Toll Brothers (TOL ) shot higher today by 6.10% when the company announced earnings and revenue that were better than what Wall Street was expecting. The company, which builds homes that can cost more than $2 million, said overall orders were up by about 22%. This news sent shares to new highs for the year on above average volume. Shares are now up over 8.5% on the year.
Bristol-Myers Squibb (BMY ) shares were up slightly today (+0.99%) after a report came out that billionaire investor Carl Icahn has taken a stake in the company. It was the Wall Street Journal that said Icahn "sees the company as a possible takeover candidate." At almost the exact same time Bristol-Myers announced it will add three board directors and repurchase $2 billion in stock. Shares of the company are still down over 5% on the year but have come well off their lows set back in January.
United Parcel Service (UPS ) has jumped on the drone delivery bandwagon. Today UPS announced that it had successfully delivered a package using a drone. The delivery happened in my home town of Tampa, Florida and was all over the local news. It took off from the top of an electric van with a recharging station. UPS emphasized that it is still a ways off before drone deliveries become an everyday service. The news was not enough to impress shareholders though as shares were lower by 1.95%. Shares are also down on the year by over 8%.