Retail earnings were the underlying headline today and will likely continue to be the focus this week. Fitbit (NYSE: FIT) shares were lower on the day by 12% after missing earnings and suggesting that the future is not too bright. AutoZone (NYSE: AZO) was the weakest name in the S&P 500, losing 11% after they missed earnings as well. This also took down the other competitors in the space including O’Reilly Automotive (NASDAQ: ORLY) and Advanced Auto Parts (NYSE: AAP) which lost 6.5% and 4.5% respectively.
It wasn’t all bad news though, Macy’s (NYSE: M) beat earnings expectations by a mile which came a sort of a shock to investors. The company said that earnings growth exceeded their expectations which fueled the bullish pop today. The stock pushed higher by 3.5% on the day.
Boeing (NYSE: BA) announced their deal with President Trump today for two new Air Force One planes. It was reported that the deal came in at $3.9 billion for the two planes. This has been a major, public negotiation between the company and President Trump and he claims that it will save the taxpayers $1.4 billion. Shares of boeing were higher by 0.27% today, hitting new highs in the process.
In other news, Viasat (NASDAQ: VSAT) announced today that it’s high speed, satellite-based home internet service is now available in the US. With the recent launch of their new “ViaSat-2, new customers can expect speeds of up to 100 megabytes per second. There are 5 unlimited plans ranging from 12 to 100 megabytes per second. Their next satellite ViaSat-3 aims to provide internet to the entire world at speeds up to 1 terabit per second. (1,000,000 mbps). SpaceX and Boeing are also in the process of launching “Low Earth Orbit” networks.