Stocks powering to new all-time highs as financials lead the way, and Trump talks up tax reform, again. Plus – Netflix earnings any minute now, we’ll have them for you as soon as they break. And – traders used to worry about peak oil supply, but now the concern is – demand. We explain. Plus – what if you received more voting shares, the longer you held the stock? A new exchange is promising just that.
Winners and losers
Stocks getting hit today include Sears Holdings as Bruce Berkowitz will leave the board of directors – Berkowitz’s Fairholme Capital is a major shareholder in Sears, Adobe as Deutsche Bank downgraded shares of the creative software company to hold citing a slowing growth trajectory, and Nordstrom – another retail name in trouble today as the Nordstrom family said it will suspend plans to take the chain private, due to difficulties in obtaining debt financing.
Stocks in the green today include Apple as KeyBanc upgraded shares to ‘overweight’ citing the company’s recent moves to segment its customer base with new iPhone pricing, KKR as Goldman upgraded shares of the private equity giant to Buy with a $24 price target, and Ruby Tuesday – shares getting a boost as the casual dining chain will be taken private in a $146 million deal with NRD Capital Management.
Rent the Runway looking for liftoff
Rent the Runway started in 2009 as a clothing rental company mostly focused on that big occasion dress: a benefit, a wedding, the prom. These days you’re more likely to see a Rent The Runway dress in your office than on a red carpet. Jennifer Hyman is chief executive and one of the founders of Rent The Runway and she joins us now.