Yahoo Finance Stocks drop on oil slump, Fed commentary
Stocks slip as The Street takes in mixed earnings reports, lower oil and the latest Fed-speak. Catch The Final Round at 4 p.m. ET with Jen Rogers and Yahoo Finance editor-in-chief Andy Serwer.
Winners and losers
Stocks on the move lower today include Lending Club as the online lending site reported higher delinquencies by borrowers, Cigna despite Jefferies reiterating its buy rating for the insurer, and Pandora, with shares out of tune as Bank of America Merrill Lynch downgraded shares to underperform, with analysts claiming the subscription music streaming market is too crowded.
Stocks pulling higher to start the week include Take Two Interactive as the game maker will release a sequel to its hit title Red Dead Redemption; Groupon as Wedbush upgraded shares citing increased customer traffic and deal inventory; and Hasbro, with shares of the toymaker climbing on a big earnings and revenue beat, fueled by success of the Disney Princess and “Frozen” product offerings.
Adidas coming after Nike
Just two years ago, Adidas slipped to third in US market share behind Nike and fast-growing Under Armour. But the fortunes of the sportswear brand seem to be turning around. Can the momentum continue under a new CEO? Dan Roberts has the latest.
Looking ahead
In the morning we’ll get a read on inflation with CPI data for September. The Street’s expecting core CPI, which backs out food & energy costs, to rise 0.2% month over month.
At 10 a.m. ET, the NAHB will release its Housing Market Index for October. The consensus estimate is for a 63 reading, slightly less than the prior month.
And we’ll get big earnings reports from Dow components Goldman Sachs, Johnson & Johnson and Intel.
