Here’s what you need to know this morning:
The Dow Finally Hit 20,000
The Dow hit a new milestone by climbing over 20,000 points yesterday and ending at 20,068.51. The S&P 500 and Nasdaq indexes also closed at new record highs. If you still don’t know what this means, read our guide to understanding the Dow’s milestone.
Big Earnings. Yuge!
Every major company and their cousin is reporting earnings today. This morning, Ford ($F) announced that their net income dropped by 38%, causing their stock to dip a bit in the pre-market. The motor company attributes the lost to an accounting change on how pensions are calculated. Caterpillar ($CAT) reported higher earnings per share than expected, but lower-than-expected revenues. Their stock is down .37% before the market opens. Microsoft ($MSFT), Alphabet (Google, or $GOOG), Intel ($INTC), Starbucks ($SBUX), and PayPal ($PYPL) all announce their earnings after the market closes.
Bob Evans Doesn’t Own Bob Evans Anymore
Bob Evans Farms, the owners of all 523 U.S. Bob Evans restaurants, will no longer own Bob Evans restaurants. Instead, the company is selling the rights to all locations to Golden Gate Capital, owners of Red Lobster and California Pizza Kitchen. Bob Evans will instead focus on selling Bob Evans-branded food to supermarkets, and will purchase Pineland Farms Potato Company to likely sell Bob Evans-branded potato products. What a time to be alive!