Stocks jump on Yellen remarks, tax reform prospects

Stocks (^DJI, ^GSPC, ^IXIC) getting a boost on tax reform hopes, just as Hurricane Harvey bears down on the Texas coast. Plus – Hurricane Harvey bearing down on the Texas coast – we have a live weather update on what could a massively destructive storm. And – Whole Foods and Amazon will soon be one – we break down what this means for you, on Monday. Plus don’t forget the big fight on Saturday night – we give you the winners and losers, outside the ring. Catch The Final Round at 4 p.m. with Jen Rogers and Yahoo Finance editor-in-chief Andy Serwer, reporter Melody Hahm, and markets correspondent Myles Udland.

Winners and losers

Stocks in the red today include Gamestop – earnings missed estimates as the growing popularity of downloading games hurt sales, Ulta Beauty as the cosmetics retailer posted slowing year-on-year growth, but it did raise its full-year outlook, and Valeant – shares of the drugmaker again under pressure as institutional investor Lord Abbett sued Valeant for fraud, claiming a staggering $80 billion in losses.

Stocks getting a boost today include Adama Pharmaceuticals following news that the FDA approved its new one-of-a-kind treatment for Parkinson’s disease, Abercrombie & Fitch as Citi upgraded shares to buy with a $16 price target, and Quintiles – shares of the health care services provider on the rise at it will replace Whole Foods in the S&P 500.

 

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