The Fed rally continued today with the markets posting more solid gains. The Dow 30 added 102 points, while the S&P 500 added 13, and the Nasdaq 100 moved to new highs yet again, gaining 44. As we wrap up the week traders will have very little scheduled news to help drive their decisions.
Yahoo (NASDAQ: YHOO) made headlines early today as recode first reported that Yahoo was expected to confirm a massive data breach that may have exposed several hundred million user accounts. Later in the day Yahoo did in fact confirm that the data breach affected more than 500 million accounts. The tech publication said the hack could complicate Verizon's (NYSE: VZ) planned takeover of Yahoo. Shares were up slightly on the headlines, gaining 0.02%.
SeaWorld Entertainment (NASDAQ: SEAS) shot up 7.74% early today after Citigroup upgraded the stock to buy from neutral. The bank said that they see a recovery in the company's theme park attendance in 2018 and beyond as the company redeploys cash saved by a recent dividend cut toward new capital expenditures. Earlier this week the stock sank to new 52 week lows following news that the company eliminating its dividend.
Red Hat (NYSE: RHT) surged higher by 3.87% today on well above average volume. The Linux and open-source software distributor lifted its outlook for the current quarter and the year after posting better than expected earnings and revenue for the second quarter. Sales surged 19% from a year ago thanks to solid demand for its products.
Bed Bath & Beyond (NASDAQ: BBBY) had a wild day of trade today, but finished up by 0.74%. The home goods retail chain posted a miss on both its top and bottom lines for the second quarter. Same-stores sales fell 1.2% as the brick-and-mortar chain struggles to lure shoppers. Shares have remained on lows almost all year long.