Stocks are poised to lock in a strong week of gains, powered by energy shares. And health care just got a big boost from the Trump White House. Plus, the White House out with its new plan to lower drug prices. So why are pharma stocks higher? And Snapchat’s redesign of its redesign is out. Will it help turn around its fortunes? And finally – Starbucks in the spotlight. We focus on, and break down, issues facing the world’s largest coffeeshop chain.
Winners and losers
Stocks in the red include Redfin as it lost over $36 million during the first quarter as the online real estate brokerage poured millions of dollars into advertising in a bid to gain market share; Kohl’s on a Credit Suisse downgrade to Hold as analysts predict cold weather will hit quarterly results; and Symantec, with shares plunging as the cybersecurity company reveals an internal investigation by the board’s audit committee.
Stocks in the green include Immersion as the haptic touch tech company easily beat on both the top and bottom lines; Verizon as JPMorgan upgraded the telecom giant—and our corporate parent—to Overweight citing 5G growth opportunities; and Trade Desk, with shares soaring as the provider of automated ad technology said international growth helped fuel first-quarter revenue and profit.