Stock prices were up modestly each morning, drifted down in the afternoon but rallied within the last hour, leaving the major indexes with small gains on your day. The S&P 500 index is down roughly five percent up to now in-may.
The technology sector was quiet today. Netflix had an increase of 0.76 percent while Amazon.com declined 0.16 percent. Software-maker salesforce.com was up 1.81 percent but chipmaker NVIDIA Corp. fell 0.88 percent. Eight of thirteen tech stocks on the index were up today.
Dollar Tree Inc. had the largest gain on the Entrepreneur Index™, rising 3.14 percent after reporting good financial results. The discount retailer beat revenue estimates and hit earnings targets with same-store sales growth of 2.2 percent slightly above expectations. The business lowered its full-year earnings forecast partly as a result of impact of tariffs on Chinese-made goods. In addition, it warned that further levies could have additional financial impact. The stock is up 8.8 percent this season.
Pest-control stalwart Rollins Inc. was also up sharply today, rising 2.19 percent. The stock is up 4.5 percent for the entire year. Other good gains on the index today included diversified manufacturer Danaher Corp.(1.66 percent), healthcare IT provider Cerner Corp. (1.28 percent) and O’Reilly Auto Parts (1.41 percent).
Wynn Resorts had the largest loss on the index today, dropping 2.59 percent. Wynn is hyper-sensitive to China-related news since it derives a lot more than 70 percent of its revenue from casinos in Macau and needs the Chinese government to renew its licenses to use there. Earlier this week, the business paid a $35 million fine to the State of Massachusetts linked to its handling of sexual allegations against former CEO and founder Steve Wynn.
Specialty retailer Bed Bath & Beyond fell 2.15 percent. Yesterday, the business announced it had reached a cope with activist investors who recently forced former CEO Steven Temares to leave the business. The investors will now support all of the company’s nominees for an expanded board and has dropped litigation against the business. BBBY wants a fresh CEO. The stock was up a lot more than 70 percent this season through early April, as investors anticipated major changes at the struggling retailer. However, It has fallen a lot more than 34 percent since April 10.
Other notable declines on the index included Capital One Financial (-1.22 percent) and Fedex Corp. (-0.98 percent). Coal and oil producer Hess Corp. was also down 1.28 percent following the price of oil fell nearly four percent today. Gap Inc. was down 1.1 percent on your day but fell a lot more than 10 % in early after-hours trading. The retailer reported earnings following the market close.
The Entrepreneur Index™ collects the very best 60 publicly traded companies founded and run by entrepreneurs. The entrepreneurial spirit is a very important asset for just about any business, which index recognizes its importance, regardless of just how much a company is continuing to grow. These inspirational businesses could be tracked instantly on Entrepreneur.com.