Yahoo Finance Stocks fight for gains as energy, materials lead
Stocks (^DJI, ^GSPC, ^IXIC) fight for gains as two of the biggest names on Wall Street—Warren Buffett and David Tepper—pound the table on stocks. And the Dow and S&P 500, they’re at fresh record highs. Catch The Final Round at 4 p.m. ET with Justine Underhill and Yahoo Finance editor-in-chief Andy Serwer.
Winners and losers
Stocks getting hit to start the week include Under Armour after Nomura downgraded shares claiming the athletic-wear maker is now past its high growth phase; Shutterstock as the stock photo and video company reported an earnings and revenue miss; and Tesla, with shares in reverse after Goldman downgraded it to sell, citing concerns such as execution, cash needs, and its SolarCity unit.
Stocks getting a boost today include Kate Spade as its bidding war heats up, with Reuters reporting Michael Kors and Coach among the suitors; Gogo as the inflight WiFi service everyone loves to hate reported a sales beat and soaring revenue guidance; and Sotheby’s, with shares getting bid up today after the auction house reported a strong earnings and revenue beat. Shares hit a new 52-week high today.
What’s next for Obamacare?
Congress gets back to work, with Obamacare in focus. What’s next for the insurers and drug companies? We break it down with Susan DeVore, CEO Of Premier, a health care improvement company.
Looking ahead
GDP is on tap—at 8:30 a.m., we get the world’s largest economy reduced to a single number. Analysts expect fourth quarter GDP to tick up slightly to 2.1% from an earlier estimate, but that’s still well below the third quarter’s blowout 3.5% growth.
Trump gets a prime time slot as he addresses members of the House and Senate at 9 p.m. EST. Just don’t call it the State of the Union… that won’t officially happen until Trump’s second year.
Finally, grab your beads—it’s Mardi Gras in New Orleans and across the globe. And for many revelers, it’ll be the last chance for gluttons to gorge themselves before Lent.
