Yahoo Finance Stocks jump on confidence data, Clinton debate performance
Stocks are up for the first time in three days, as the markets cheer growing consumer confidence—and Hillary Clinton’s performance last night. Catch The Final Round at 4 p.m. ET with Yahoo Finance’s Jen Rogers, markets correspondent Nicole Sinclair and reporter Dan Roberts.
Winners and losers
Stocks on the move lower today include Andy Serwer–favorite JM Smucker on a Credit Suisse downgrade to neutral, citing the need for a substantial reinvestment to boost the company’s pet food division; Nordic American Tankers after the oil shipping company announced it’s selling 11 million shares to finance the expansion of its fleet; and Caesars Entertainment, with shares falling after the casino operator struck a deal with its largest creditor group to get its operating unit out of bankruptcy, as the deal does not appear to be as favorable to shareholders as previously thought.
On the flip side, stocks moving higher today include medical imaging systems maker EndoChoice Holdings after agreeing to be acquired by Boston Scientific for about $210M, almost a 90% premium to its prior close; AutoZone climbing on an upgrade to overweight at Morgan Stanley, citing favorable upcoming weather; and Kite Pharma, with shares surging after the drug maker announced positive results from a lymphoma treatment trial, with over 40% of patients showing complete remission.
Deal or no deal for Twitter?
Twitter shares are in focus today as bidders are reportedly out in force, licking their chops for a possible deal. Joining The Final Round to sort it all out is Yahoo Finance’s Dan Roberts.
Looking ahead
In the morning, we’ll get durable goods orders for August. New orders are expected to fall 1.9% month over month, after jumping 4.4% in the prior month.
Later in the day, we’ll get big data for the oil trade, with the EIA’s crude inventory report. Last week inventories fell by 6.2 million barrels.
Finally, Fed Chair Janet Yellen will be on the Hill, giving her semi-annual testimony before the House Financial Services Committee on bank regulation.
