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For Nov. 23, 2015, here's the top stock market news and stocks to watch based on today's market moves…
How Did the Stock Market Do Today?
S&P 500: 2,086.59; -2.58; -0.12%
Nasdaq: 5,102.48; -2.44; -0.05%
The Dow Jones Industrial Average today (Monday) dropped 31 points thanks to a small sell-off in key components like Apple Inc. (Nasdaq: AAPL), Goldman Sachs Group Inc. (NYSE: GS), and Boeing Co. (NYSE: BA). Investors kept an eye on oil prices and reacted to a negative housing report. This morning, the National Association of Realtors announced existing home sales slipped 3.4% in October to a seasonally adjusted annual rate of 5.36 million. The report suggested that would-be buyers are standing on the sidelines and no rush has been seen by housing agents ahead of the Federal Reserve's plan to raise interest rates.
Top Stock Market News Today
- Stock Market News: Seven of 10 S&P sectors were in the red, with telecom stocks and utilities stocks showing the steepest declines. Shares of Facebook Inc. (Nasdaq: FB) slipped 0.3% and continued to tick downward in afterhours trading on news the company's CEO Mark Zuckerberg plans to take a paternity leave after his wife gives birth to their first child.
- Oil in Focus: Oil prices were up on Monday after a bullish announcement from Saudi Arabia. January WTI prices were flat in the afternoon, trading at $41.89 per barrel. Meanwhile, Brent oil crude – priced in London – added 0.6% to hit $44.11. High-volume stocks Exxon Mobil Corp. (NYSE: XOM) and Chevron Corp. (NYSE: CVX) added 0.7% and 1.1% on the day, respectively. Shares of Kinder Morgan Inc. (NYSE: KMI) were up 1.2%. Today's biggest loser was Crestwood Equity Partners LP (NYSE: CEQP), which saw shares fall by more than 90%.
- On Tap Tomorrow: On Tuesday, keep an eye out for an update on third-quarter GDP, a monthly update on international trade, and the October report on consumer confidence. Companies set to report quarterly earnings include HP Inc. (NYSE: HPQ), Tiffany & Co. (NYSE: TIF), Dollar Tree Inc. (Nasdaq: DLTR), DSW Inc. (NYSE: DSW) Seadrill Ltd. (NYSE: SDRL), Guess? Inc. (NYSE: GES), Campbell Soup Co. (NYSE: CPB), Hormel Foods Corp. (NYSE: HRL), and Chico's FAS Inc. (NYSE: CHS).
Stocks to Watch: GME, TSN, AA, PFE, AGN, K
- Stocks to Watch No. 1, GME: Shares of GameStop Corp. (NYSE: GME) slipped 4.2% after the gaming retailer missed third-quarter earnings expectations. The firm reported an EPS of $0.54, missing Wall Street expectations by a nickel. The company blamed weak software and hardware sales.
- Stocks to Watch No. 2, TSN: Shares of Tyson Foods Inc. (NYSE: TSN) jumped more than 10% after the company reported positive third-quarter earnings. The firm announced its quarterly sales jumped 4%, although it did miss consensus EPS expectations of $0.88 by a nickel.
- Stocks to Watch No. 3, AA: Shares of Alcoa Inc. (NYSE: AA) jumped more than 4% on news activist hedge fund Elliott Management purchased a 6.4% stake in the global aluminum producer. The company is expected to engage in a spin-off of its metal-making division from its manufacturing business. Elliott is also pushing Alcoa to divest its power generation unit.
- Stocks to Watch No. 4, PFE: Shares of Pfizer Inc. (NYSE: PFE) slipped 2.7% on news it will purchase Botox-manufacturer Allergan Plc. (NYSE: AGN) in a deal worth at least $160 billion. The merger is the largest ever in the healthcare sector. Here's a breakdown of the deal and a bullish outlook on Pfizer stock.
- Stocks to Watch No. 5, K: Shares of Kellogg Co. (NYSE: K) added 3.5% after receiving an upgrade from investment bank Credit Suisse Group AG (NYSE ADR: CS). The food manufacturer's stock has been upgraded to "outperform."
What Investors Must Know This Week
- Grab Double-Digit Gains from This Analyst "Fail"
- Three Game Changers Fueling a Natural Gas Rebound
- Brace Yourself for This $2 Trillion Global Disruption