The markets were severely mixed today. The Dow 30 was able to add another 103, the S&P 500 lost 1, and the Nasdaq 100 lost 88 thanks to some weakness in the semiconductor space. Tomorrow investors will get a look at unemployment claims and natural gas storage numbers, which can be market-moving indicators.
Chipotle (CMG ) finished the day higher by 5.64% as the company announced that they are looking for a new CEO. Shares of the company are lower by 20% on the year and have had many public struggles, but investors seemed to cheer at the prospect of fresh leadership. No announcement was given as to the potential candidates. For now the stock will likely see more volatility as the search yields many rumors and assumptions.
Steve Madden (SHOO ) shares popped 5.00% today after an upgrade by Buckingham to buy from neutral. The analyst is confident that the next earnings report will meet expectations, which should produce more upside. Technical traders noted the $44.50 area where shares met resistance before. The stock is now higher by about 25% on the year.
Autodesk (ADSK ) was hit hard today, with shares losing 15.86%. The stock erased over two months of gains as the company reported earnings that were mostly in line with Wall Streets expectations, but they announced a restructuring plan, which means job cuts. Investors were concerned about future performance during this restructuring and chose to exit for now. The stock still has a nice gain on the year of about 45%.