The markets plowed higher yet again today, setting more records. The Dow 30 was lower by 12, the S&P 500 added 4, and the Nasdaq 100 was higher by 20. Economic optimism remains at highs which continues to fuel data and the markets. Tomorrow offers very little in the way of scheduled news so investors will look to Washington and individual stocks for more guidance, but for now all news is good news.
GoPro (NASDAQ: GPRO) shares sold off 12.77% today alone when the company announced major changes. The stock broke to new lows as the company announced that it would completely shut down it's drone business, and was laying off around 20% of it's workforce. The CEO also commented that he would consider the sale of the company, and by the end of the day says it hired JP. Morgan to help put itself up for sale. This is not the first time the company has made serious changes to try and get to profitability. With these new changes the company says they hope to see profitability in the second half of 2018.
Khols (NYSE: KSS) was one of the top performers in the S&P 500 today as shares popped 4.67%. The company announced holiday sales that were 6.9% higher than last year which allowed them to raise their guidance going forward. Shares have been aggressively moving higher since early November.
Nvidia (NASDAQ: NVDA) shares popped another 3.06% today, making new highs in the process as the company announced partnerships with Uber, Volkswagen, and Baidu to develop technology for autonomous driving. The chips themselves will focus more on artificial intelligence, facial recognition, and voice assistants.
In other news, Warren Buffett's Berkshire Hathaway (NYSE: BRK.A) says they stand to make an additional $37 billion from the recent tax overhaul. Mr. Buffet has long said he doesn't favor tax cuts as hit company is doing just fine at the old tax rate, but we're sure he'll be happy to take the additional $37 billion.