Market Wrap-Up for Apr.22 (PNC, SBUX, NOK, MSFT, MEE, AXP, more)

By Staff,

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We are seeing some zany action in equities today, as growth investors chase up names like Netflix ( NFLX ) and Chipotle Mexican Grill ( CMG ). One can also say that short-sellers may be behind the rise as there were likely a decent amount of traders anticipating a "sell the news event".

Why do I point this out? Normally in the past, when we see these type of rocket-like spikes in momentum-driven plays, the fallout could lead to a short-term pullback. Having been on the active side of the markets for many years (as a trader), I will sometimes notice a shift/trend that can be temporary in nature, but if you are not positioned properly, can cost you financially.

We will be monitoring the markets closely and keep subscribers posted on any moves we feel necessary to make regarding our recommended dividend names.

The markets were able to reverse some early losses to close in the green. Volume picked up and finished at 6.03 Billion shares on the NYSE and 2.61 Billion shares traded on the NASDAQ. As for the immediate action today, the "earnings gods" were smiling down on shares of Hershey ( HSY ) , PNC Financial ( PNC ) and Starbucks ( SBUX ) among others. Stocks that weren't so lucky include names like Qualcomm ( QCOM ) , Nokia ( NOK ) , Hormel Foods ( HRL ) , and Massey Energy ( MEE ) just to name a few. We will be getting results from influential companies like Microsoft ( MSFT ) and American Express ( AXP ) following today's close. Also, momentum investors will be zeroing in on results from ( AMZN ).

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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