The markets were lower today after starting the day hitting highs. Investors took some profits, sending the Dow 30 was able to gain 8 by the close, but the S&P 500 sold off 1, and the Nasdaq 100 was lower by 18. Tomorrow investors will get a look at crude oil inventories which can be a market mover.
Disney (NYSE: DIS) shares were higher again today by 0.86% as investors focus on the announcement that the company has had preliminary talks with 21st Century Fox (NASDAQ: FOXA) to buy most of its business. CNBC was the first to break the news, but comments from their sources said that the "talks are no longer taking place, but could resume in the future." Shares of Disney were still higher on the possibilities and shares of 21st Century Fox added another 1.09% today.
Valeant (NYSE: VRX) shares were higher today by 17.11% as the company beat the street on profit and revenue in their most recent earnings report. Strong results in the Canadian drug maker's eye-care business were cited as the reason for the beat. Earnings came in at $1.04 on revenue of $2.22 billion, with analyst expectations of 88 cents a share and sales of $2.15 billion. The move today erases over one month of losses on volume that was well above average.
Snap Inc. (NASDAQ: SNAP) will be a major focus after the close today as the company will report third-quarter results. Analysts have prepared themselves for a loss of 15 cents a share and revenue of $235.5 million. Just like the other major social platforms, the focus will be on number of daily active users. Snap is expected to grow its daily user base to 180.5 million, up from 173 million in the second quarter. Shares were higher by 1.96% ahead of the announcement.