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President Trump's tax plan will be released today. His plan will be a general outline instead of a detailed plan. Investors can expect a cut in corporate taxes, but there will likely be no mention of a childcare tax credit or infrastructure spending.
After yesterday's strong housing numbers, a June rate hike looks more likely. Yesterday, the probability stood at 43.7%. Today, that probability has risen to 72.6%, according to the World Interest Rate Probability data.
Now that we know what's moving markets, here are the three top stocks to watch today…
Top Stocks to Watch Today: Chipotle Mexican Grill Inc. (NYSE: CMG)
Chipotle stock is up 1.7% in early morning trading after quarterly sales increased.
The company has been struggling to win back customers after an E. coli outbreak in 2015. This quarter saw comparable restaurant sales increase 17.8% for the first time since the outbreak.
Restaurant-level operating margin increased from 6.8% to 17.7%.
Diluted earnings per share (EPS) were $1.60 compared to last year's loss of $0.88 per share. Analysts expected EPS to be $1.27.
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CMG stock is currently trading at $471.76 for a gain of 25% so far this year.
Top Stocks to Watch Today: Northrop Grumman Corp. (NYSE: NOC)
Northrop Grumman stock is up 1.2% in early morning trading after it raised its year-long outlook.
The company announced EPS of $3.63, up from $3.03 for the same quarter last year. Adjusted EPS was $3.13, beating analysts' expectations of $2.93.
Revenue also increased this quarter over last year. This quarter, revenue was $6.267 billion, while last year it was $5.956 billion.
Northrop Grumman is expecting sales to be $25 billion for the year.
NOC stock is trading at $248.13 for a gain of 6.7% year to date (YTD).
Top Stocks to Watch Today: Twitter Inc. (NYSE: TWTR)
Twitter stock is up 10% in early morning trading after posting its earnings report.
The social media company reported a loss of $0.09 per share, beating last year's loss of $0.12 per share. Adjusted EPS was $0.11, beating analysts' expectations of $0.20.
Revenue of $595 million was a drop of 6% this quarter compared to the same quarter last year. It did beat the expectation of $517 million.
TWTR is currently trading at $14.66 for a loss of 10.1% YTD.
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