The Dow Jones Industrial Average finished ahead 0.59% to close at 15224.69, while the S&P 500 closed up 0.53% at 1640.46. The Nasdaq managed to finish ahead 0.16% at 3484.83, despite Apple (AAPL) losing more than 2% by day’s end.
Analyst ratings and targets were the prime movers on the day. Priceline (PCLN) continued a magical run, rising nearly 4% after being upgraded from “equal weight” to “overweight” by Morgan Stanley. PCLN is up more than 43% year-to-date. Meanwhile, Best Buy (BBY) received a price target hike from $35 per share to $38 by SunTrust. Though it only gained marginally, BBY shares are up 150% year-to-date. Intel (INTC) headed lower, however, after Evercore downgraded INTC to “underweight” and dropped its price target from $22 to $20.
Investors will now turn their attention to second-quarter earnings season, which kicked off with news that Alcoa (AA) managed to narrowly beat earnings estimates for the second quarter. AA earned an adjusted 7 cents per share, better than expectations for 6 cents. AA shares were ahead just more than 1% in after-hours trading.
- Linn Energy (LINE): Up 8.3% ($1.92) to $25.13.
- SolarCity (SCTY): Up 7.7% ($2.92) to $41.01.
- Peabody Energy (BTU): Up 4.9% (72 cents) to $15.37.
- Noodles & Company (NDLS): Down 9.2% ($4.26) to $40.06.
- Celldex Therapeutics (CLDX): Down 7.8% ($1.66) to $19.61.
- Zynga (ZNGA): Down 4.1% (14 cents) to $3.29.
Marc Bastow is an Assistant Editor at InvestorPlace.com. As of this writing he is long AAPL.