Markets turned lower at the close today after being positive almost all day today. The Dow 30 closed down 7 (-0.04%), the S&P 500 closed lower by 5 (-0.27%), and the Nasdaq 100 lost 17 (-0.36%). Tonight begins the earnings season and market volatility is widely expected as companies release their earnings for the first quarter of 2016.Alcoa (NYSE: AA) gained 3.95% today in anticipation of earnings season after the bell. Alcoa kicks off earnings season tonight and investors are bracing for weak results. The expectations are that the biggest drop in earnings will come from energy and materials sectors.
Yahoo (NASDAQ: YHOO) popped 1.14% today after the U.K.'s Daily Mail said they are in talks with private-equity firms about a possible bid for Yahoo. The deadline for potential suitors to place offers for Yahoo's core internet business is April 18th.
Netflix (NASDAQ: NFLX) was largely unaffected today (-1.09%) after the online streaming giant said it is raising its monthly subscription fees for millions of customers by $2 per month. Those affected by this price boost are customers who were grandfathered into their current rates of $7.99 a month two years ago.
Hertz Global (NYSE: HTZ) suffered a rather large 11.49% decline today after the company cut its outlook for the first quarter, saying it now expects its U.S. car rental revenue to fall 2.5% to 3.5%. Hertz says earnings per share for the first quarter will be lower than expected, but its full-year guidance was reaffirmed.
Restaurant Brands International (NYSE: QSR) surged 2.87% today after RBC Capital Markets upgraded the stock to outperform from sector perform. The investment firm also lifted its price target on the stock to $48 per share. QSR is the owner of Tim Hortons and Burger King.