The markets were positive today in a choppy day of trade as the "Brexit" vote is the main focus of traders.. The Dow 30 was able to gain 44 (0.25%), the S&P 500 added 5 (0.27%), and the Nasdaq 100 gained 6 (0.14%). Tomorrow Janet Yellen will continue her testimony and we will get to see the weekly Crude Oil inventories.
United Continental (NYSE: UAL) popped 3.34 today ahead of its investor conference call. Prior to the call the airline announced new initiatives to save money and increase revenues. United Continental is targeting $3.1 billion in revenue and efficiency gains as part of CEO Oscar Munoz's plans to reshape the airline. This news added to the 3 day win streak.
Whole Foods (NYSE: WFM) was upgraded today by Credit Suisse. The analyst company said that it sees an opportunity to buy Whole Foods for the long-term following its recent dip. Shares fell from their highest level of the year after the FDA issued a warning letter to the company for food safety violations. This upgrade didn't attract investors however as shares finished down26%.
Facebook (NYSE: FB) added 0.89% today as the company announced that more than half a billion people worldwide are using Facebook's photo-sharing app Instagram. More than 80% of users are from outside the US. This adds to the stock's upward momentum yesterday, after shareholders approved a proposal to create a new class of non-voting shares.
CarMax (NYSE: KMX) lost 4.90% today as the company's quarterly profit and sales missed estimates. CarMax posted earnings per share of $0.90 as sales edged up to $4.13 billion. Wall Street forecasted earnings per share of $0.92 and sales of $4.21 billion.
Lennar (NYSE: LEN) grabbed traders attention early today as the second-largest US home builder reported earnings and revenue that topped expectations. Lennar delivered 12% more homes during the quarter compared to one year ago while the average selling price climbed 4% to $362,000. It appears traders took their profits early though as shares closed down 1.16%