The markets continue to shake off the Brexit news, showing all green today. The Dow 30 was up another 1.09%, the S&P 500 added another 1.36%, and the Nasdaq 100 also popped 1.33%. Tomorrow traders will focus on the manufacturing numbers to close out a wild week.
Citigroup (C ) had another good day today (0.66%) as the bank announced that it will more than triple its dividend after passing the Fed's stress test. This is the second year in a row that Citi passed the test. The bank was also given permission to buy back up to $8.6 billion of its own shares in the coming year. Shares closed the day near highs.
Lionsgate (LGF ) sold off 3.49% today after announcing that they are buying Starz for $4.4 billion dollars in an all cash and stock deal. The deal was for $33 per share; a 14% premium on Wednesday's closing price. The deal is expected to close by the end of the year. Buyers pushed shares up early but sellers dominated the day closing LGF at lows.
Netflix (NFLX ) added another 0.44% to its gains this week after the company's chief content officer said the company is keeping its focus on China and is working on ways to gain entry into the world's most populous country.
Priceline (PCLN ) gained another 0.73% today thanks to an upgrade from Morgan Stanley (MS ). The analyst company upgraded Priceline to overweight from equal weight, citing lower advertising costs and new market expansion as catalysts for the stock. Shares have under performed relative to the market recently.