Stocks (^DJI, ^GSPC, ^IXIC) rise, but fall flat on conviction as Trump delivers over $300 billion in deals. Catch The Final Round at 4 p.m. with Jen Rogers and Yahoo Finance Editor-in-Chief Andy Serwer.
A new way to measure companies
How do you pick what stocks to buy—PE ratios, cash flow, margins? Martin Whittaker is the CEO of JUST Capital and makes the case for another metric: corporate behavior.
Winners and losers
Stocks getting hit today include Zoe’s Kitchen, as the fast casual chain was downgraded to neutral by RW Baird; Amgen as the biotech firm said it doesn’t expect one of its osteoporosis drugs to win FDA approval this year, and that comes after a trial showed a higher rate of heart-related side effects; and Advanced Micro Devices shares sinking after Citi reiterated its sell rating on the semiconductor maker, saying it doesn’t believe a GPU licensing deal with Intel is likely to happen.
Meanwhile, stocks moving higher include Blackstone on an upgrade to buy at Citi, which cited the firm’s plans to create a $40 billion infrastructure initiative with Saudi Arabia’s sovereign wealth fund; LED maker Cree on an upgrade at JMP Securities; and Ford shares jumping after announcing CEO Mark Fields was leaving.
Here’s what will be making headlines tomorrow:
At 10 a.m. ET, we’ll get new home sales for April. The Street’s expecting 604,000 homes sold, a slight dip from the prior month.
We’ve also got more earnings on tap with Intuit, Toll Brothers, Autozone and DSW.
Finally, as President Trump heads to Bethlehem, the White House will release its full 2018 federal budget proposal, which follows the ‘Skinny Budget’ released in March.