The markets were mostly higher to start the week, but saw a more active trading range than usual. Volume was on par for this time of year and it seems the focus has shifted back to Washington for now. Focus on the healthcare bill and odd of it passing in the Senate will likely be one of the focus headlines of the week. The Dow 30 was higher by 14, the S&P 500 was up 1, and the Nasdaq 100 lost 18. Tomorrow investors will be interested in consumer confidence numbers along with a speech from Federal Reserve Chairwoman, Janet Yellen.
SeaWorld (SEAS ) shares sold off sharply today, making new lows for the year as admitted late Friday it received subpoenas from the Justice Department and the SEC regarding trading in its stock. According to the headlines, "the two US federal agencies are also investigating disclosures and public statements by executives, including comments about the Blackfish documentary, which led to a public backlash against keeping killer whales and other animals in captivity." SeaWorld said it's cooperating with the investigations, but investors wanted no part of it. Shares tumbled to new lows on the year and are now lower by over 20% for 2017.
Pandora Media (P ) shares got a small pop today as the it was reported that the company may be looking for a new CEO. Recode was the outfit that reported that Pandora's co-founder and CEO-Tim Westergren plans to step down, but with no replacement named it seemed the music streaming service would be shopping the position. This did cause an upgrade as well. Pacific Crest upgraded Pandora stock to sector weight from underweight. Shares have been up sharply in the last few trading days, moving higher by over 20% since marking a low on June 19th.
Yum Brands (YUM ) moved to new highs to start the week after investors responded to news that Australia-based Collins Foods is buying about 28 KFC restaurants from the fast food chain. Shares have been sharply higher in recent weeks, adding almost 17% since mid-April. For the year the stock has shown gains of almost 20%.
