Stock Market Retreats Off Record Highs as Facebook Prepares to Report Financial ResultsChipotle and O'Reilly Auto Parts will also report after the market closes today.
Opinions expressed by Entrepreneur contributors are their own.
The stock market retreated off all-time highs set yesterday with the major stock indexes posting small declines today.
道琼工业指数和标准普尔500指数下跌0.22 percent while the Nasdaq Composite index fell 0.23 percent. TheEntrepreneur Index™had a loss of 0.19 percent on the day.
Thetechnologysector was generally weak with the exception of semiconductor chipmakersAnalog DevicesandNVIDIACorp. Both were up after strong earnings from Texas Instruments today lifted the entire chip sector. Analog Devices, up 2.79 percent, set a 52-week high today. Chipmakers have had a strong recovery from the plunge at the end of last year. Analog's stock is up 36.7 percent this year while NVIDIA is up 43.2 percent.
Most other tech stocks on the index were down.Netflix(-2.01 percent) andAmazon(-1.14 percent) had the biggest declines.
Gap Inc.andL Brandsboth had strong days in the market, rising 3.31 percent and 3.24 percent respectively. L Brands, which recently struck a deal with activist investor Barington Capital to support the company's independent board of director nominees, has risen sharply in the last two sessions, putting its return for the year-to-date (1.79 percent) in positive territory. Gap, up just 0.47 percent so far this year, plans to split off its Old Navybrandfrom the rest of the company.
Other good gains on the Entrepreneur Index™ includedUnder Armour Inc.(2.01 percent) andUniversal Health Services(1.74 percent).
Rollins Inc. shares got pummeled after the company reported financial results that missed estimates for the second consecutive quarter. The stock was down 10.06 percent -- the biggest loss on the Entrepreneur Index™ today. The pest control company missed earnings estimates by a penny and posted quarterly revenues more than one percent below expectations. The stock is still up 8.8 percent this year.
Oil and gas producerHess Corp.fell 2.39 percent after inventories of U.S. crude oil increased by more than expected last week. Hess is the hottest stock on the Entrepreneur Index™ this year, rising 62.6 percent as the price of oil has rebounded.
Drug-makersAlexion Pharmaceuticals(-1.72 percent) andRegeneron Pharmaceuticals(-1.07 percent) were both down today after strong gains yesterday.
Teslawas also down sharply, falling 1.99 percent ahead of the company reporting financial results after the market close today. A CFRA analyst suggested that first quarter numbers "could be a disaster" for the company. Tesla reported profits in the last two quarters.
Four other companies on the Entrepreneur Index™ will report financial results after the market close today:
- Chipotle Mexican Grill
- O'Reilly Auto Parts
- Essex Property Trust
TheEntrepreneur Index™collects the top 60 publicly traded companies founded and run by entrepreneurs. The entrepreneurial spirit is a valuable asset for any business, and this index recognizes its importance, no matter how much a company has grown. These inspirational businesses can be tracked in real time onEntrepreneur.com.
