Markets were strong again today as all the indices traded up on the day. The Dow 30 closed up 89 (0.51%), the S&P 500 gained 8 (0.44%) and the Nasdaq 100 added 22 (0.47%).Apple (AAPL ) got another boost today (1.75%) after Cowen analyst Timothy Arcuri upgraded the stock to outperform from market perform and boosted his price target by $10 to $135 per share. Arcuri noted that he believes estimates have bottomed and sees the iPhone 7 launch as a catalyst for the stock.
Lululemon (LULU ) blasted off 10.71% today as the Canadian retailer topped estimates on both the top and bottom lines but issued a soft outlook for the current quarter. Lululemon posted fourth-quarter earnings per share of $0.85 on revenue of $704 million. The company's same-store sales rose 11%, beating the 8% expected by analysts.
More bad news for Valeant (VRX ) after the battered drug maker proposed a deal with its lenders to avoid a default by extending the deadline to file its 10-K to May 31. Valeant Pharmaceuticals has been in the spotlight for drug price increases and its previous relationship with a specialty mail-order pharmacy. Shares are down over 71% this year alone, and lost 6.59% today.
Carnival Corp. (CCL ) popped 5.50% today as the company beat Wall Street estimates, announcing fiscal first-quarter adjusted earnings per share of $0.39 on revenue of $3.65 billion.
General Electric (GE ) hit fresh highs today (1.11%) as State Street (STT ) has agreed to buy General Electric's asset management business for up to $485 million. The transaction, which is expected to be finalized early in the third quarter, will increase State Street Global Advisors' assets under management by about $100 billion.