The markets started the week higher again as news about new deals from President Trumps travels came in overnight. The Dow 30 was higher by 90, the S&P 500 added 12, and the Nasdaq 100 gained 49. While the news is all positive now, investors are starting to question what type of headlines President Trump will be returning home to after his trip. Many feel that the Comey, and Russia news will not go away anytime soon.
Ford (NYSE: F) was a big mover today on news that Mark Fields, the current CEO is out and Jim Hackett will replace him. This comes as Ford has had issues with declining sales and profits, and of course an under performing stock. Shares are lower by over 28% since 2015. This year so far shares are lower by 8.5% but investors seem optimistic about the change in leadership and many are calling the low.
Qualcomm (NASDAQ: QCOM) blasted off today, trading above a wide range that has been set all year long. The move came after JPMorgan (NYSE: JPM) upgraded the stock to overweight from neutral. The firm stated in their note that "improved valuation and benefits from its deal with NXP Semiconductors (NASDAQ: NXPI)" was part of the reason for the move. Qualcomm has been struggling this year as legal battles with Apple (NASDAQ: AAPL) and other issues have held pressure on the stock.
Huntsman (NYSE: HUN) shares had a wild ride today but ultimately finished lower. Shares started sharply higher after news came out that it's merging with Switzerland based, Clariant in a "stock swap deal that values the combined companies at $20 billion." The company will be called HuntsmanClariant, with headquarters in Switzerland, but main operations in Texas. Investors are on the fence about these inversions taking place to avoid high corporate taxes in the US.