Midday Report: Apple at Records, Trades Above $800 Billion; Low Volatility Trading Remains
Stocks fluctuated around the flatline as the low-volatility trading environment remained stable on Wall Street. The S&P 500 and Nasdaq reached fresh intraday records earlier in the session. Home goods and decor company Wayfair (W) - Get Report surged after a narrower loss and higher sales than expected over its first quarter. The company also increased its market share in North America and Europe, though average order sizes dropped. Allergan (AGN) - Get Report rose as sales of Botox helped push quarterly earnings and sales above Wall Street estimates. The drugmaker's full-year adjusted earnings also met analysts' expectations. Apple (AAPL) - Get Report traded in record territory a day after reaching a market cap of above $800 billion for the first time ever. The world's largest company rallied yesterday after Drexel Hamilton upped its price target on high hopes for the iPhone 8.
Top news on TheStreet today:
- Carly Fiorina: 'Pre-Existing Conditions Have to Be Covered' in Health Care Reform
- 9 High-Profile CEOs Who Actually Write Their Own Tweets and Are Worth Following
- Valeant Shows Signs Its Turnaround Efforts Are Bearing Fruit; Jim Cramer Weighs In
- Alibaba Launches AliPay in U.S. to Challenge WeChat, Apple Pay
- Walgreens Gives FTC Deadline on Rite Aid Ruling
- Here's the Simplest Reason Ever Why Apple Won't Spend More Than $50 Billion to Buy Tesla
- Amazon Just Released a New Echo Device With a Touchscreen
