The markets all posted modest gains for the day as oil inventories were the focus. The S&P 500 performed the best today gaining 8 (0.41%). The Nasdaq 100 gained 13 (0.29%), and the Dow 30 posted a 33 point (0.20%) gain.Ross Stores (NASDAQ: ROST) Popped up to fresh yearly highs today (2.69%) as analysts raise expectations following the company's better-than-expected fourth-quarter results. MKM Partners is the analyst that upgraded Ross Stores to a buy rating with a $65 price target. Wedbush and Telsey Advisory Group also chimed in and lifted their price targets. This is just another example of the retail sector improving.
Abercrombie & Fitch (NYSE: ANF) is another retailer that posted a surprise rise in same-store sales, snapping a streak of more than three years of declines. Abercrombie & Fitch announced adjusted earnings per share of $1.08, beating Wall Street forecasts for $0.99 a share. Shares closed up 4.36%, also hitting new highs for 2016.
Shares of fast-casual restaurant chain Chipotle (NYSE: CMG) gained 3.08% today after an analyst raised its price target on the stock to $613 per share from $536 per share while maintaining a buy rating. Although shares didn't quite make it to new highs on the year, technical trader continue to note the short term strength.
Lastly, less than a year after he returned to lead the company he founded, Mark Pincus is stepping down as Zynga's (NASDAQ: ZNGA) CEO. He will be replaced by EA veteran and Zynga board member Frank Gibeau. Pincus will remain with the company as executive chairman of the board. Investors cheered this move causing a 4.17% pop today.