Stocks finished the day relatively mixed with below average volume on most of the big name stocks. The Dow 30 was up 12, the S&P 500 lost 2 and the Nasdaq 100 closed lower by 4. Next week the focus will remain on earnings as the tech names take their place in line to post their results.
The media names suffered a bad day today as the group sold off thanks to a set of downgrades at UBS Group (NYSE: UBS). Discovery Communications (NASDAQ: DISCA) sold off 2.49% today, and CBS (NYSE: CBS) lost 3.61% as each had their ratings cut to "Sell" from "Neutral" by the investment bank.
Chipotle Mexican Grill (NYSE: CMG) was noticeably weak today (-3.14%) after being downgraded to "Equal-Weight" from "Overweight" at Morgan Stanley (NYSE: MS). The firm cited a survey, which contended that the company's recovery of customers and sales may take longer than previously expected. You may remember that they published the same comments earlier this year.
Wells Fargo (NYSE: WFC) suffered a loss of 2.51% today following a disappointing earnings release. The stock showed relative weakness all day today as investors responded to a bottom-line beat, but falling net interest margins. In the same space, notable rival Citigroup (NYSE: C) reported a bottom-line beat on in-line revenue but was unable to edge higher (-0.27%). For the month, Wells Fargo and Citigroup have popped 1.3% and 5.1%, respectively. This compares to a gain of 2.9% in the broader financial sector (NYSE: XLF) over that time.
Lastly, Herbalife (NYSE: HLF) soared 9.92% today following the FTC determining that the company is not a pyramid scheme. It should be noted, however that Herbalife did agree to adjust some of its business practices and pay a $200 million fine.