Stocks are powering to new highs as tech—the market’s top sector this year—leads the charge. Plus, we’re watching earnings: Salesforce and HP are out after the bell. And … the FCC is no longer neutral. What the end of net neutrality means for you. Plus, the agribusiness is awash in mergers. The CEO of the largest crop chemical producer tells us what’s next.
Winners and losers
Stocks in the red today include Campbell Soup as higher costs hit the bottom line; DSW as the shoe retailer reported a comp-store sales miss citing the negative effect of the hurricanes; and Signet Jewelers, with shares cratering as the Zales and Kay Jewelers parent slashed its full-year EPS guidance citing problems related to changes in its new credit business.
Stocks in the green today include Rite Aid on a Cowen note suggesting the drugstore chain is a takeout target for Amazon; Hormel as the food company beat on both the top and bottom lines; and Tesla, with shares getting a boost here the car company has is now allowing some Model 3 reservation holders to begin configuring their vehicles, with delivery taking place in about 4 weeks.
Inside the agribusiness
The global agricultural chemical business has been in the midst of a major consolidation the last few years. Syngenta has had a front row seat. CEO Erik Fyrwald joins us now.