The markets started considerably lower today after more news from North Korea on missile tests. At one point the Dow 30 was lower by over 200 points, but was able to close up on the day by 57. The S&P 500 also participated in the rally adding 2, and the Nasdaq 100 gained 18. All of the major indices finished very near their highs of the session. Tomorrow investors will get a look at GDP numbers along with crude oil inventories which will be in focus following Hurricane Harvey.
Finish Line (NYSE: FINL) sold off sharply today losing another 18.43%. Shares moved to new lows once again as the company announced it would be lowering its profit forecast for the entire year. Shares plummeted to new lows after already being down over 40% on the year. Investors have been cautious in the retail space this year and this news does not help the sector over all which was lower by 0.59% today.
Best Buy (NYSE: BBY) announced earnings today and while earnings and revenue came in better than expected, investors were not convinced. The CEO issued a warning on its conference call that stated he "didn't think it was likely that the mid-single digit rise in comparable sales would continue." Shares were lower by 11.93% on the day and closed near their lows of the session despite a market rally.
Under Armour Inc. (NYSE: UA) was another retailer to selloff today. Shares moved lower by 2.76%, grabbing headlines as they pushed to new lows on the year. Shares are now lower by 40% on the year as investors look to put money to work elsewhere.