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All eyes will be on the healthcare sector today. House Republicans released their replacement to Obamacare yesterday. Not being able to deny coverage for pre-existing conditions will stay, but that's about it.
Some notable proposed changes include eliminating mandatory coverage and potentially pausing funding to Planned Parenthood.
The healthcare sector dropped 0.4% after the announcement and is expected to continue declining today.
Now that we know what's moving markets, here are three top stocks to watch today…
Top Stocks to Watch Today: Snap Inc. (NYSE: SNAP)
The honeymoon is over. Snap stock dropped 12% yesterday to end the day lower than its initial open price of $24.48.
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Demand for shares of SNAP have fallen dramatically since its IPO. On the first day of trading, 216.5 million shares of Snapchat traded hands. As of 10:00 a.m. today, only 14.6 million shares traded hands.
Snap fell another 3% in early morning trading today. It is currently trading at $23.77.
Top Stocks to Watch Today: Dicks Sporting Goods Inc. (NYSE: DKS)
Dicks stock is down 4% in early morning trading after it lowered Q1 guidance.
The company announced earnings per share (EPS) of $0.81 for Q4, which is below the $1.13 EPS for the same quarter a year prior.
Revenue beat analysts' estimates. Dicks Sporting Goods announced $2.5 billion in revenue compared to the expected $2.2 billion.
For Q1, Dicks expects EPS to be in the range of $0.48 to $0.53. Analysts were expecting estimates of $0.61 EPS for next quarter.
DKS stock is trading at $52.61 for a loss of about 1% year to date.
Top Stocks to Watch Today: Michaels Companies Inc. (Nasdaq: MIK)
Michael's stock is up almost 5% in early morning trading after reporting better than expected earnings for Q4.
The company announced EPS of $0.95, which is greater than the $0.87 EPS analysts expected.
Sales were up 4.1% for the quarter. The company is expecting sales to increase 2.5%-4.0% for 2017.
MIK stock is trading at $20.53 a share, about flat for the year so far.
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