The markets were mixed today as tech stocks finally saw a decent bounce. The Dow 30 closed unchanged, while the S&P 500 added 3. The real focus was on the Nasdaq 100 which reversed course by 40 points, breaking its 3 day losing streak. Tomorrow traders get a look at unemployment claims as well as some manufacturing numbers but the real fireworks will come on Friday when the unemployment rate comes out, along with the Federal Reserves monetary policy report.
Tesla (TSLA ) shares sold off 7.24% today on news that the electric vehicle maker has only delivered 22,000 cars in the second quarter and produced 25,708 vehicles, bringing its total deliveries for the first six months of the year to 47,100. This was on the lower end of what the company had expected to deliver. They had previously announced between 47,000 and 50,000 vehicles as their forecast. While shares are still higher on the year, they have now lost over 14% since hitting a high just two weeks ago.
Buffalo Wild Wings (BWLD ) shares continued their slide today losing 3.32%, marking new lows in the meantime. Stephens, and analyst firm downgraded the stock, lowering its rating on Buffalo Wild Wings to equal weight from overweight. They also cut their price target to $145 per share from $195. Shares are now lower by 20% on the year.
Oracle (ORCL ) shares were up slightly today as the tech firm got an upgrade from KeyBanc. The company raised its overall rating on the stock from sector weight to overweight and issued a price target of $61 per share. In the analyst note KeyBanc said "Oracle's cloud business and potential growth in AI among reasons for the upgrade." Shares of Oracle are up about 28% so far this year, and up 7% since announcing an earnings beat on June 21st.