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The top stocks to watch today (Monday) are Snap Inc. (NYSE: SNAP), Cal-Main Foods Inc. (Nasdaq: CALM), and G-III Apparel Group Ltd. (Nasdaq: GIII).
Today is looking like a down day on the financial markets since "Trumpcare" was not passed Friday after the markets closed. Futures for all three major indexes are down in early morning trading. S&P 500 futures are the biggest loser so far this morning, dropping 0.85% (22 points) before the markets opened, with Nasdaq futures (down 0.76%, or 44 points) and Dow futures (down 0.7%, or 148 points) close behind.
The sell-off comes amid fears that President Trump's agenda to stimulate the economy will be harder to pass now that the healthcare bill did not pass the House. However, investors should note that tax reform and infrastructure spending are much simpler issues to tackle than healthcare, so all is not lost yet.
Now that we know what's moving markets, here are the three top stocks to watch today...
Top Stocks to Watch Today: Snap Inc. (NYSE: SNAP)
Snap stock is up 3% in early morning trading after receiving five favorable ratings from analysts.
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The Snapchat parent company has been trading publicly since March 2. Today, five companies that rate stocks followed SNAP. Overall, the consensus is a buy with Goldman Sachs Group Inc. (NYSE: GS), Citigroup Inc. (NYSE: C), and Jefferies Group LLC (NYSE: JEF) rating the stock that way. Morgan Stanley rated Snap stock as "Overweight" (meaning it is performing better than average), while RBC rated the company as "Outperform."
Analysts gave one-year price targets between $27 and $31. Those targets are higher than the previous one-year price target of $20.
SNAP stock is currently trading at $22.74 for a loss of 7% since its IPO.
Top Stocks to Watch Today: Cal-Maine Foods Inc. (Nasdaq: CALM)
Cal-Maine stock is down 7% in early morning trading after releasing its quarterly earnings report.
The egg producer posted net sales of $306.5 million for the quarter. That is almost 32% lower than the same quarter a year prior. Last year saw net sales of $449.8 million for the same quarter.
Earnings per share (EPS) disappointed as well. This quarter saw EPS of $0.09, while the same quarter last year saw EPS of $1.33.
The company pointed to an imbalance between supply and demand for eggs as the reason sales and earnings were disappointing. Currently, hens are laying eggs faster than demand is growing.
CALM stock is trading at $37.35 for a loss of 15.5% year to date.
Top Stocks to Watch Today: G-III Apparel Group Ltd. (Nasdaq: GIII)
G-III stock is down 12.8% in early morning trading after a disappointing earnings report.
The apparel company owns brands DKNY, Jessica Howard, and Vilebrequin, along with other lesser-known brands.
GIII reported losses of $0.42 per share for the quarter. The same quarter a year prior saw earnings of $0.17 per share.
The company posted revenue of $2.73 billion, which was below analysts' expectation of $2.89 billion.
E-commerce is cited as the main reason the company is losing profitability.
GIII stock is currently trading at $22.92 for a loss of 22.5% so far this year.
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