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Stocks reverse as Trump fires Bannon

Stocks (^DJI, ^GSPC, ^IXIC) are reversing in midday trading as Trump tells Steve Bannon — you’re fired. Plus, an up-and-down week hits retail, but could a new service up-end how brick-and-mortar is done? And, Alibaba gets another upgrade. Is the Chinese e-commerce giant just getting started. Catch The Final Round at 4 p.m. with Melody Hahm, Yahoo Finance editor-in-chief Andy Serwer, reporters Seana Smith and Jared Blikre.

Winners and losers

Stocks in the green today include Calpine as it will be bought out by PE firm Energy Capital Partners in a $5.6 billion deal; OPKO Health as Cantor Fitzgerald initiated shares with an ‘overweight’ rating and $20 price target; and Applied Materials, with shares of the chip manufacturing firm climbing after it delivered upbeat current quarter guidance.

Stocks in the red today include Infosys as CEO Vishal Sikka resigned following a feud with company founders; Deere as the farm equipment maker’s revenue missed analyst expectations; and Foot Locker shares getting stepped on as the athletic retailer missed badly on earnings and posted surprise 6% drop in same-store sales.

Looking ahead

  • A big day for health insurers as it is the deadline for the latest monthly subsidies to be paid by federal government. President Trump has not committed to making these payments in the long term.
  • Earnings season coming close to an end here with reports from Ruby Tuesday and solar name Yingli Green Energy.
  • Finally, break out your special glasses, because a total solar eclipse crosses the entire country. The eclipse will visible in all of North America, with a total eclipse visible within a thin path across the US, starting in Oregon and ending in South Carolina.