Monday marked the worst day for stocks so far in 2017, as U.S. equities fell in response to President Trump's controversial ban on immigrants and refugees from seven Muslim-majority countries. The executive order sent jitters through the market, with energy and technology down the most today.
Zacks Rank #1 (Strong Buy) Biggest Movers
Value: Eagle Bancorp EBMT
Growth: Ceragon Networks CRNT
DOW: 19,966.23 / -127.55 / -0.63%
S&P 500: 2,280.65 / -14.04 / -0.61%
NASDAQ: 5,613.71 / -47.07 / -0.83%
Over the weekend, Uber was lambasted across social media for its decision to continue operations to and from JFK Airport after the New York City Taxi Workers Alliance halted service in response to President Trump's immigration ban. #DeleteUber trended wildly, but this is just the latest example of Uber taking advantage of the taxi industry for their benefit.
According to sources familiar with the matter, Snapchat's parent company, Snap Inc., decided to list its shares on the New York Stock Exchange. The smartphone app's IPO has been in the works for some time now, and the company is expected to go public early this year at a valuation between $20 billion and $25 billion.
Monday saw shares of Tempur Sealy TPX crash and burn, after it announced it ended all contracts with Mattress, owned by Steinhoff International SNH , one of the company's key customers. In mid-morning trading, TPX stock was already down 27%. Contracts were terminated due to disagreements over changes and many failed attempts to enter into a "mutually agreeable supple deal."
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