The markets enjoyed a very strong day today as earnings reports from a few large names helped stop the weakness seen earlier in the week. The Dow 30 added an impressive 187, the S&P 500 gained 21, and the Nasdaq 100 popped 87, hitting another all time high. House republicans were also able to get their tax bill passed though it didn't have much effect on the market overall. Tomorrow investors will get a look at building permits and housing starts first thing in the morning.
Walmart (NYSE: WMT) blasted off to new highs today, adding 10.90% in the process. The move came as the retailer beat analysts expectations on earnings and revenue. Same store sales as also a big focus as those came in more than expected as well. Announcement that the company would also be raising its full year forecast further fueled the impressive rally today. Shares are now higher on the year by an impressive 50%.
Time Inc. (NASDAQ: TIME) shares saw an impressive 28.06% gain on the day as reports came out saying that Meredit working on a partnership with the Koch brothers in a bid to take over the media company. Shares have been higher in recent days in anticipation of the announcement. Since hitting a low just a few days ago the stock is higher by 60%.
Cisco (NASDAQ: CSCO) shares blasted off 5.19% today, hitting a new, sixteen year high as the computer networking company announced earnings that beat the streets expectations. The company also raised guidance for 2018 as well. It would seem that the company's turnaround efforts are starting to take hold, and investors continue to cheer the move. The stock is now higher by over 20% on the year.
NetApp (NASDAQ: NTAP) also enjoyed a solid day today, gaining 15.91%. The company beat expectations on earnings, driven by stronger revenues and margins. Shares moved to a new record high today and are now higher by over 50% this year. Most of that coming in the last few months.