Stocks traded sightly lower to wrap up the week as the jobs numbers came in less than expected. The Dow 30 was down 34(-0.19%), the S&P 500 was lower by 6 (-0.29%), and the Nasdaq 100 was off by 28 (-0.58%). Next week kicks off Monday with a speech from Fed chair Janet Yellen.
Broadcom (AVGO ) broke out to new highs today (5.07%) as the semiconductor company posted better-than-expected earnings in the second fiscal quarter. The company reported adjusted earnings per share of $2.53 on revenues of $3.56 billion. Volume was heavy as the buyers chased this good news.
Gap (GPS ) added 4.31% today despite having reported a 6% decline in comparable-store sales for the month of May at its Gap, Old Navy and Banana Republic stores. Although this is not great news, it was still better than analysts expectations of a 7.2% total decline.
Following up on yesterdays news of drone delivery, Walmart (WMT ) announced today that they are partnering with Uber and Lyft to test grocery delivery service. The pilot program will launch in Phoenix and Denver later tis month. Shares of the retail giant have remained near the highs of the year.
More bad news for Twitter (TWTR ) as Snapchat (SNAP ) announced that it has more daily users than Twitter. Bloomberg is reporting that the messaging app now has 150 million people using the service each day. Twitter is estimated to have less than 140 million daily users. Shares were flat on the day (0.00%).
Finally, Toyota (TM ) lost 0.3% today as the automaker halted production at three of its plants in Japan following an explosion at a supplier's plant earlier this week. Toyota said it expected production to fully resume by the beginning of next week.