REUTERS/Thomas KrumenackerTomorrow, Saturday, June 21, is the Summer Solstice in the Northern Hemisphere, marking the longest day of the year.
Stocks on Wall Street finished marginally higher as the Dow and S&P 500 made new all-time closing highs.
First, the scoreboard:
- Dow: 16,947.08, +25.6, (+0.2%)
- S&P 500: 1,962.87, +3.4, (+0.2%)
- Nasdaq: 4,368.04, +8.7, (+0.2%)
And now, the top stories of the day:
- No major economic data were released today.
- Oracle shares fell almost 4% after the company last night reported earnings that disappointed. This was the second straight year that the company’s fourth quarter earnings report disappointed. Oracle management, however, said its quarter was actually positive, as the company said it sold new cloud-computing contracts that won’t show reported revenue right away.
- Activist investor Carl Icahn’s fight with Family Dollar is officially on. Carl Icahn last night sent a letter to Family Dollar’s board demanding a sale, and the company responded, but did not appear ready to act on Icahn’s demands. Icahn, who first reported a stake in the discount retailer two weeks ago, said he was prepared to nominate an entirely new slate of directors to Family Dollar’s board if the company is not open to a sale.
- Gunmaker Smith & Wesson saw its shares fall more than 10% after the company said revenue for its upcoming fiscal year would decline about 5% from the year just completed. Today marked the second straight quarter that shares of the company had a big swing after its earnings report; last quarter shares gained 16% following earnings.
- Shares of electronics retailer RadioShack closed below $US1.00 for the first time. RadioShack stock has now fallen more than 70% in the last year and more than 95% in the last decade.
- Viral messaging app ‘Yo’ said that people sent more than 3.7 million Yo’s, or about 100 per second, just yesterday. It’s been an explosive couple of days for Yo, which saw its user base surge from about 60,000 to more than 200,000 in just 24 hours. Unfortunately, the app also announced earlier today that it was hacked.