The markets started lower today but the buyers came in after lunch closing all major indicies in the green for the day. The Nasdaq 100 gained 39 (0.87%), the S&P 500 showed a modest 8 point (0.44%) gain, and the Dow 30 closed up 52 (0.32%).Shares of Ford Motor Company (F ) saw a 2.82% decline today as Credit Suisse downgraded it to under perform from neutral with a price target of $13 per share. Ford last issued its quarterly earnings results on Jan. 28, 2016, reporting $0.58 earnings per share for the quarter, beating the analyst consensus of $0.51. Although Ford did have a red day today it still closed well off its lows.
Target (TGT ) had a strong 3.95% day today after reporting earnings. The retailer reported comparable-store sales increased 1.9% in the fourth quarter. Target's traffic was up 1.3%, and its average transaction amount increased 0.6%. Its digital sales rose 34% year-over-year. Technical traders will note today as the official break of the downtrend.
Transocean (RIG ) shares sold off to new 52 week lows today (-3.98%) on news that Esso Exploration Angola, a subsidiary of ExxonMobil (XOM ), announced it was canceling a contract for deep-water activity early. This marks the second time this has happened this month. Transocean is scheduled to release its quarterly earnings report tomorrow.
One of the biggest gainers on the day was DreamWorks (DWA ). The production company topped Wall Street estimates, posting earnings per share of 55 cents on revenue of $319 million. This marks the fifth straight quarter in which the company beat analysts' expectations. Shares popped a whopping 21.70% today alone.