The markets posted another strong day Wednesday as ll the major indices were positive throughout the day. Buying pressure was consistent causing the Dow 30 to close up another 1.64%, the S&P 500 to add 1.70%, and the Nasdaq 100 up 1.86%. Tomorrow, again the scheduled news is light, but we will get to see unemployment numbers before the open.
Nike (NKE ) soared 3.84% today after the athletic retailer posted diluted earnings per share of $0.49. This result came in a penny better than analyst estimates. They did, however miss slightly on revenue, posting $8.24 billion. Jefferies reiterated a buy rating for the stock, but cut its price target from $67 to $65. Shares traded at 2.5 above average volume.
Foot Locker (FL ) popped 5.56% today even though BB&T lowered its price target on Foot Locker to $70 from $80 following Nike's earnings release. The firm cited post-Brexit concerns and macro headwinds as some of the reasons for its price target cut.
Noodles & Co. (NDLS ) was able to close up 1.03% today despite the news from the company said there may have been a data security incident. The company said payment information of some of its customers may have been compromised. Noodles & Co. is working to determine what information was affected, and it didn't seem that investors were too concerned today.