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Stock Market Roundup, March 7: SNAP Falls Again, Drug Stocks Dip

Ryan McQueeney

Stocks opened in the red and were down slightly throughout the day on Tuesday. The healthcare sector, specifically drug stocks, witnessed some volatility after the release of the Republican plan to replace Obamacare and President Trump’s ensuing tweets, while shares of Snap Inc. fell another 11% just days after its highly-anticipated IPO.

Zacks Rank #1 (Strong Buy) Top Movers

Value: Pier 1 Imports PIR - +5.48%

Growth: PIR

Momentum: Applied Optoelectronics AAOI - +6.18%

VGM: PIR

Major Indexes

DOW: 20,923.95 / -30.39 / -0.15%

NASDAQ: 5,832.77 / -16.41 / -0.28%

S&P 500: 2,367.91 / -7.40 / -0.31%

Top Headlines

After Snapchat, Will Investors Flock to Canada Goose's IPO?

On today’s episode of Shopping for Stocks, Editor Maddy Johnson takes a look at what could be one of the most interesting IPOs in years: Canada Goose. On the back on Snap’s SNAP historic IPO, the market could be ready to welcome this designer of high-end parkas and other winter apparel.

IBM and Salesforce Partner to Expand AI and Cloud Computing Platforms

Salesforce.com, Inc. CRM and International Business Machines Corporation IBM on Monday announced a new partnership that will help advance both companies through the integration of Salesforce’s new artificial intelligence technology with IBM’s Watson AI.

Trump's Tweet Hits Pharma Stocks, Promises Decreased Drug Prices

A President Donald Trump tweet promising to increase competition and decrease prices in the drug industry sent pharmaceutical stocks falling on Tuesday. Immediately following the news, shares of Pfizer PFE and Merck & Co MRK fell 1.1% while Amgen Inc AMGN took a 1.4% hit.

After Momo's Strong Earnings, Buy These Chinese Internet Stocks

Shares of Momo Inc. MOMO, the developer of a popular mobile social media application in China, soared more than 11% on Tuesday following the release of its strong fourth-quarter earnings results. With several other Chinese internet stocks showing strength, is now the time to invest in the country’s new digital age?

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International Business Machines Corporation (IBM): Free Stock Analysis Report
 
Pfizer, Inc. (PFE): Free Stock Analysis Report
 
Merck & Company, Inc. (MRK): Free Stock Analysis Report
 
Salesforce.com Inc (CRM): Free Stock Analysis Report
 
Applied Optoelectronics, Inc. (AAOI): Free Stock Analysis Report
 
Amgen Inc. (AMGN): Free Stock Analysis Report
 
Pier 1 Imports, Inc. (PIR): Free Stock Analysis Report
 
Momo Inc. (MOMO): Free Stock Analysis Report
 
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