Yahoo Finance Bulls' breakout?; Netflix's China talks; Keurig's Kold on thin ice
The big question on Wall Street today-- have stocks finally broken out of their long-running trading range?
So far, investors appear ready to add to yesterday's record-setting performance on the S&P 500 (^GSPC). But Yahoo Finance's Aaron Task reminds us this is a song we've heard sung before...a lot.
"This is the pattern we've been in all year long," he notes. "We get to new highs and people say, 'Wow, it's a new high,' and everyone gets excited. Then we have a selloff--3 to 4%--and people start to freak out, 'That's it, the bull market is over.' And then the bears get disappointed because the market rallies back to new highs."
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Nordstrom's results come in mixed
Here’s a look at some of the stocks the Yahoo Finance team will be tracking for you today.
Nordstrom (JWN) shares are on the move in early trading after handing in mixed quarterly results. The high end department store chain reported earnings per share missed estimates as its acquisition of Men's retailer Trunk Club, store expansion and technology costs took a toll on profits. But revenue topped forecasts, jumping 11%.
King Digital (KING) shares are getting crushed this morning. The maker of Candy Crush warned revenue for the current quarter would be weak. It blames currency swings, lack of new game releases and more competition in the space. However, revenue and earnings in the first quarter actually beat Wall Street views.
Related: El Pollo Loco and King Digital get crushed; Netflix jumps on China chatter
El Pollo Loco (LOCO) shares are falling in early trading after the Mexican food chain gave a disappointing outlook for the current quarter and same-store-sales growth slowed in the first quarter. However, earnings per share came in a penny better than estimates, and revenue also topped forecasts, jumping 11% from a year earlier.
Netflix (NFLX) shares are higher this morning. The video-streaming giant is reportedly in talks with Chinese broadcast companies to bring its content to China. The Wall Street Journal reports that the discussions are still in early stages.
Apple for your home
Apple (AAPL) is announcing the first round of home automation devices compatible with Apple's HomeKit software will be available next month. The items will include thermostats and garage door openers, which can be controlled remotely via an Apple device.
And Keurig's (GMCR) new cold brewing machine will be released on a slower schedule than expected. The product won't be available to the full retail channel until the end of 2016.
Related: Keurig 'Kold' gets cold shoulder from investors
Related: Keurig: We messed up
