Here Are 3 Hot Things to Know About Stocks Right Now
- The Dow Jones Industrial Average
and the S&P 500 jumped to record closing highs.
- Tilray Inc. (TLRY) slumped more than 20% after taking investors on a crazy ride during the previous session.
- Amazon.com Inc. (AMZN) rose 1% following a report the company is considering a massive expansion of its cashierless stores.
Wall Street Overview
The Dow Jones Industrial Average
The Dow has risen more than 300% since it bottomed out at 6,470 intraday on March 6, 2009 in the wake of the financial crisis that rocked Wall Street a decade ago.
The Dow Jones Industrial Average
Global oil prices slipped after West Texas Intermediate crude, the U.S. benchmark, earlier crossed $71 a barrel and contracts for Brent crude, the European benchmark, rose closer to $80, following data that showed domestic inventories fell to the lowest level in three-and-a-half years.
WTI crude was down 0.3% to $70.88 a barrel.
Comcast Corp. (CMCSA) , Walt Disney Co. (DIS) and Twenty-First Century Fox Inc. (FOX) will take their $35 billion battle to own Britain's Sky PLC into a one-day bidding contest that will determine the owner of Europe's most lucrative pay television broadcaster, regulators said Thursday.
The online retailing giant, according to the report, is considering plans to have about 10 locations open by the end of 2018, about 50 locations in major metro areas in 2019, and then as many as 3,000 by 2021. The stock rose 1%.
General Electric Co. (GE) fell 3.2% on Thursday after JPMorgan analysts cut their rating on the struggling conglomerate amid concerns that a key gas turbine launch would hit GE's earnings.
Lead analyst Stephen Tusa, who has a underweight rating on the stock, lowered his price target to $10 a share from $11 as he reiterated concerns for the company's power division.
Tilray Inc. (TLRY) fell 20.12% on Thursday after closing with a gain of more than 38% on Wednesday following an interview the cannabis company's CEO held with TheStreet's Jim Cramer on his "Mad Money" program on CNBC.
Brendan Kennedy touted his Canadian cannabis business as a smart hedge for the world's largest pharmaceutical companies.
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Darden Restaurants Inc. (DRI) , the parent of Olive Garden, posted fiscal first-quarter earnings of $1.32, ahead of estimates of $1.24. Same-store sales rose 3.3% in the period, beating forecasts of up 2.1%. The stock fell 1.2%.
Software company Red Hat Inc. (RHT) fell 6.5% after fiscal second-quarter revenue of $822.7 million and its outlook for the third quarter missed analysts' forecasts.
Under Armour Inc. (UAA) said Thursday it was revising its outlook for adjusted earnings in 2018 higher but also said it was raising by $10 million the expected restructuring charges related to a 3% workforce reduction. The stock was up 6.6%.
Micron Technology Inc. (MU) shares rose in after hours trading after the company posted its latest financial results.
In U.S. economic data, weekly jobless claims fell 3,000 last week, declining to the lowest level since November 1969.
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