Markets suffered a hard loss today as selling pressure grew all day. All the major indices lost over 1% today taking almost every sector with it. The Dow 30 lost 178 (-1.01%), the S&P 500 lost 24 (-1.19%), and the Nasdaq 100 suffered the worst of all losing 72 (-1.47%).Wynn Resorts (NASDAQ: WYNN) blasted off 11.66% today after the casino announced a major Las Vegas expansion project. Wynn Resorts CEO Steve Wynn plans to transform the area behind his Las Vegas resort into a new development that includes a 38-acre lagoon attraction. Following the announcement, Telsey Advisory Group upgraded Wynn to outperform and raised its price target to $112 per share.
eBay (NASDAQ: EBAY) fell 5.23% today after ChannelAdvisor reported eBay's March same-store sales came in at -0.2%, down from February's 9.5% climb. ChannelAdvisor also reported eBay's year-over-year sales are essentially flat versus an expectation of 15% growth. The move today also shocks the technical traders as, just yesterday eBay broke out of a multi-month range.
Bed Bath & Beyond (NASDAQ: BBBY) released earnings today and started strong but was unable to hold against the weak market. As the day progressed BBBY gave back most of its gains closing up only 0.33%. The retailer beat on both the top and bottom lines, posting earnings per share of $1.85 on revenue of $3.42 billion. Bed Bath & Beyond also declared a $0.125 dividend.
ConAgra Foods (NYSE: CAG) broke out to fresh 52 week highs today gaining 1.50%.The company released earnings which beat profit and sales expectations. ConAgra Foods reported commercial foods segment sales rose 6.1% to $1.07 billion in the fiscal third quarter, driven by its Lamb Weston frozen potato products. Total sales for the quarter rose 0.6% to $2.92 billion.