The markets saw some weakness today as all the major indices were in the red. The Nasdaq 100 lost 59 points (-1.26%). The S&P 500 lost 22 (-1.12%), and the Dow 30 lost 95 (-0.56%). Oil weighed on the markets today as it lost over 4%.Shake Shack (SHAK ) reported earnings today causing a selloff of 11.84%.The company beat on both the top and bottom lines, but sold today after the company give light guidance for sales. Shake Shack reported adjusted earnings per share of $0.08 on revenue of $51.1 million.
JetBlue (JBLU ) saw a decline of 9.09% today following its monthly unit revenue update. The airline said it sees February revenue per available seat mile falling to 10.5%.
Urban Outfitters (URBN ) broke out to new yearly highs today as the stock's price target was raised to $28 from $22 at BMO Capital following its quarterly earnings report. Urban Outfitters posted earnings per share of $0.61, while its revenue was in line with analysts' forecasts. The retailer gained 16.08% today and is now up over 23% for the year.
Lastly, Nike (NKE ) cut its ties with Maria Sharapova after she announced that she had failed a drug test. Swiss watchmaker Tag Heuer and Porsche also suspended their relationship with the tennis star. Nike was up 0.95% today.
