The markets recovered from their lows today following the confirmation that the Fed would hold off on rate hikes for now. The Dow 30 was able to close up 63, the S&P 500 gained 11, and the Nasdaq 100 added 36 on the day. Tomorrow traders will focus on employment change numbers that are due out before the open.
Walgreens Boot Alliance (NYSE: WBA) sold off 2.35% today after reporting a mixed earnings release. The company beat analysts' bottom-line estimates on almost in-line revenue. Additionally, the company announced that its planned acquisition of Rite Aid is expected to close in the second half of the year. WBA has had a relatively flat 2016 so far.
Netflix (NASDAQ: NFLX) gave back all of yesterdays gains, dropping 3.38. The decline, with above average volume comes after being downgraded to "Underperform" from "Hold" at Jefferies. Earnings are on July 18th after the close.
DuPont (NYSE: DD) was one of the worst-performing Dow components today (-1.73%) after pending merger partner Dow Chemical (NYSE: DOW) was downgraded to Underperform from Outperform at Credit Agricole. This took shares of DD to new 4 month lows. Earnings are scheduled for July 26th after the close.
Celgene (NASDAQ: CELG) popped 4.34% today after reports indicated that the company signed confidentiality agreements with Medivation (NASDAQ: MDVN). Celgene throws their hat into the ring as potential buyers for Medivation. Other's who are also in the same game are Sanofi (NYSE: SNY), and Pfizer (NYSE: PFE). This news helped the sector as a whole (NYSE: IBB) which had a strong 2% day.
Lastly, American Airlines (NYSE: AAL) suffered a 2.00% decline today after being downgraded to "Underperform" from "Outperform" at Credit Suisse. This sent the broader U.S. Global Jets ETF (NASDAQ: JETS) down 1.14%, though both AAL and JETS closed well off their lows.