Stocks (^DJI, ^GSPC, ^IXIC) are pulling back and erasing gains as worry now builds on Wall Street. Plus, Amazon, Starbucks, and Intel earnings are on the way; we’ll have them for you. And Top Republicans say the border adjustment tax is out — does this mean a tax plan could actually get done? Catch The Final Round at 4 p.m. with Nicole Sinclair, Yahoo Finance markets correspondent Myles Udland, and columnist Rick Newman.
Winners and losers
Stocks sinking into the red include Twitter as monthly active user numbers were flat compared to expectations for growth, AstraZeneca as the drugmaker’s experimental lung cancer treatment did not help patients as much as expected, and Buffalo Wild Wings after a big earnings miss. The restaurant chain cited historically high food costs, wage inflation, and lower than expected same-store sales.
Stocks ending the day in the green include our corporate parent Verizon as revenue beat Street estimates and as it added 600,000 wireless customers; Facebook as the social media company beat on earnings, revenue, and user growth forecasts; and ShoreTel — its shares are soaring as the communications company will be bought by rival Mitel for $530 million.
Make or break time for the markets?
Stocks rolled over today are but still near all-time highs, but do concerns remain as we near August, typically a slow time for the markets? Here with some clarity is Ryan Payne of Payne Capital Management.