Here Are Three Hot Things to Know About Stocks Right Now
- The Dow Jones Industrial Average I:DJI fell slightly on Monday. The index traded in and out of positive territory for much of the session.
- Hasbro Inc. (HAS) - Get Hasbro, Inc. (HAS) Report jumped 13% after the toymaker's second-quarter earnings and sales smashed analysts' expectations.
- Alphabet Inc. (GOOGL) - Get Alphabet Inc. Class A Report , the parent company of Google, rose 1% on Monday ahead of its second-quarter earnings report.
Wall Street Overview
Stocks ended mixed on Monday, July 23, with the S&P 500 and Nasdaq modestly higher and the Dow slightly lower ahead of Alphabet's widely anticipated earnings report.
An official communique from a meeting of G-20 finance ministers and central bankers over the weekend in Buenos Aires reiterated the downside risks to global growth, saying they included "rising financial vulnerabilities, heightened trade and geopolitical tensions, global imbalances, inequality and structurally weak growth." The statement followed President Trump's declaration last week that he was "ready to go" in imposing tariffs on $500 billion worth of China-made goods to reduce a record trade deficit with the world's second-largest economy.
Alphabet Inc. (GOOGL) - Get Alphabet Inc. Class A Report rose 1% ahead of earnings from the parent company of Google due after the closing bell Monday. The company posted better-than-expected results after the close of trading. See live blog.
TheStreet's Eric Jhonsa doesn't expect a ton of drama from Alphabet Inc.'s earnings, but said the web giant's report and earnings call should help answer an important question or two about search -- its largest business -- and maybe provide some useful details about how smaller businesses are progressing.
Jeep executive Mike Manley will be the new CEO of Fiat Chrysler Automobiles NV (FCAU) - Get Fiat Chrysler Automobiles N.V. Report after long-time leader Sergio Marchionne stepped down after suffering complications after surgery.
Fiat Chrysler shares fell 1.8%.
Illinois Tool Works Inc. (ITW) - Get Illinois Tool Works Inc. (ITW) Report tumbled 7.2% after the company posted second-quarter earnings in line with analysts' expectations, but cut its full-year earnings outlook to $7.50 to $7.70 a share from previous guidance of $7.60 to $7.80.
The company, according to a memo reviewed by The Wall Street Journal that was sent to a supplier last week, said it was asking its suppliers for cash back to help it become profitable. Tesla requested the supplier return what it called a meaningful amount of money of its payments since 2016, the memo said. The stock fell 3.4%.
Papa John's International Inc. (PZZA) - Get Papa John's International, Inc. Report on Sunday adopted a shareholder rights plan, or "poison pill," likely to prevent John Schnatter, the pizza chain's founder and largest shareholder, from gaining a controlling stake in the company. Shares fell 10.4%.
Schnatter, who resigned last week following a Forbes report that he used the N-word in a media diversity training session in May, owns 29% of Papa John's shares and has indicated he won't give up control of the company without a fight.
LifePoint Health Inc. (LPNT) rose 35% to $64.90 after reaching a deal to be acquired for $5.6 billion by RCCH HealthCare Partners, which is owned by funds managed by Apollo Global Management LLC (APO) - Get Apollo Global Management Inc. Class A Report . LifePoint shareholders will receive $65 a share.
Free White Paper: 7 Things All Investors Must Know in 2018. Start the second half off right with our free white paper on seven key things to watch this year. From how much cash to have on hand to the three reasons this bull market might die, our white paper features key takeaways from an all-star panel that TheStreet and Fisher Investments recently hosted in New York. Click here to register for your free online copy.