Amazon Was the Biggest Winner on the Entrepreneur Index™ Today

The online retail company’s stock jumped more than 6 percent.


3 min read

Opinions expressed by Entrepreneur contributors are their own.


The mid-term elections played out as expected, with the Democrats winning the House and the Republicans retaining the Senate. What that means for the second half of President Trump’s first term is anyone’s guess, but that’s okay with the stock market.

The Dow and S&P 500 indexes were up 2.13 percent and 2.12 percent, respectively, with strength across virtually all sectors. The Entrepreneur Index™ was up 3.02 percent, with only five of 60 stocks in the red today.

Technology stocks led the rise with the Nasdaq Composite index up 2.64 percent on the day. Netflix (5.36 percent), Adobe Systems Inc. (5.35 percent) and salesforce.com (5.85 percent) were all up sharply. Amazon jumped 6.86 percent, the biggest gain on the Entrepreneur Index™ today. The tech giant’s stock was down nearly 20 percent in October but it is once again leading the market higher. Amazon is up 49 percent on the year so far.

Healthcare stocks rallied today as the risk of a full repeal of Obamacare is likely more remote with a split Congress. Universal Health Services, which manages acute care facilities, was up 2.82 percent. Alexion Pharmaceuticals also gained 3.21 percent. The biotech firm, focused on developing for drugs to treat rare diseases, has been volatile this year, but is up more than 10 percent so far this month.

Medical device maker Boston Scientific Corp. gained 2.99 percent. The company recently posted good financials for the third quarter but tightened earnings forecasts, citing the impact of a rising U.S. dollar on foreign earnings. The stock is up 53 percent on the year.

Oil and gas producer Hess Corp. is apparently attracting value investors. The stock fell nearly 25 percent in October along with the price of oil. It was up 3.78 percent today while the price of crude was down another 1 percent. Despite the sanctions against Iran taking effect this week, U.S. oil output and inventories continue to rise. With the price of crude oil down more than 20 percent since early October, oil is technically in a bear market.

Wynn Resorts posted a good 3.92 percent gain today. The casino operator’s stock has been swinging lately because of worries about the Chinese economy and global growth outlook. Wynn announced today that Phil Satre, former CEO of Harrah’s Entertainment, would succeed retiring chairman of the board D. Boone Wayson. The company will also report earnings after the market closes today. The stock is down 32 percent this year.

Rollins Inc. was up 3.73 percent on the day. The pest-control heavyweight posted 8 percent growth in sales in the third quarter, with about 3 percent coming from new acquisitions. The stock has gained 32 percent this year.

Clothing makers were not in style today. Of the five stocks on the Entrepreneur Index™ that declined today, three were clothing manufacturers. Under Armour Inc. (-1.8 percent) had the biggest drop, followed by Gap Inc. (-1.65 percent) and Ralph Lauren Corp. (-0.31 percent).

The Entrepreneur Index™ collects the top 60 publicly traded companies founded and run by entrepreneurs. The entrepreneurial spirit is a valuable asset for any business, and this index recognizes its importance, no matter how much a company has grown. These inspirational businesses can be tracked in real time on Entrepreneur.com.

Source link

more recommended stories

  • Master QuickBooks and Get a Better Handle of Your Finances

    This 7-hour training course is designed.

  • These Women Entrepreneurs Have Created a Multimillion-Dollar Business by Reinventing Sorbet

    The co-founders of Sorbabes emphasize educating.

  • Should You Take out a Loan for Commercial Real Estate? How to Decide.

    When it’s time to expand your.

  • So You Want To Be a Sports Agent? Here’s What You Need to Know.

    Harrison Gaines, CEO of SLASH Sports.

  • Make the Choice to Be Positive

    Jon Gordon shares his thoughts on.

  • Post Malone Launches Shaboink Hemp Pre-Rolls and Announces Partnership With Icon Farms and Sherbinskis

    Post Malone, singer and founder of.

  • Most U.S. Cannabis Cultivators Choose to Compete on Quality Rather Than Cost (Chart)

    Many wholesale growers are focusing on.

  • How to Build a Community Around Your Brand

    July 19, 2019 2 min read.

  • 5 Science-Backed Ways to Boost Your Creativity

    These tips could revolutionize your approach.

  • Use This Green Beret Method to Find Out if Someone Is Trustworthy

    Thinking about a new partnership? Check.

  • 9 Airbnb Rental Tax Deductions You Can Take for Your Vacation Properties

    Maximize your short-term rental tax savings.

  • The Unheard Voices of the Cannabis Social Equity Movement

    It’s fallen to the legal cannabis.

  • How to Make Money in the Freight Brokering Business

    One expert’s insights into taking advantage.

  • Jay-Z Gets Into the Pot Game (60-Second Video)

    Your weekly rundown of the biggest.

  • 3 Female Leaders Share Their Secrets for Starting and Growing a Business

    These lessons are a reminder that.

  • 6 Easy Steps to Making Connections That Make Money and Create Happiness

    Transform your career and make money.

  • This Female Founder Fought to Stay in the Game And She Just Raised $3 Million in Funding from Serena Williams, Mark Cuban and Arlan Hamilton

    July 15, 2019 5 min read.

  • Tips and Tools for Making Progress Toward Important Goals

    Attend this free webinar and learn.

  • How Digital Marketing Changed the 2016 Presidential Race and Will Change 2020’s.

    As an entrepreneur, there are certain.

  • NFL’s Calvin Johnson and Rob Sims Talk Cannabis: It’s ‘A God-Given Gift’

    Two battered former players who never.

  • 3 Ways AI Can Help Businesses Improve Customer Relations

    The power of AI can lead.

  • 4 Essentials for Complying With the New Data Privacy Regulations

    Consumers need reassurance and protection from.

  • Why This Entrepreneur Says to Check Your Ego at the Door

    July 13, 2019 1 min read.

  • CNBC’s Tim Seymour Talks About Cannabis M&A, Private Vs. Public Markets

    Cannabis is good investment, unless you.

  • 3 Areas Where Enterprise-Focused Startups Are Poised to Make an Economic Impact

    How do you improve efficiency by.

  • What Really Causes Depression?

    Here’s what every entrepreneur needs to.

  • The Unexpected Philosophy That Led Me to My Biggest Closed Deals Ever

    Forget the conventional sales wisdom; if.

  • How This Founder Overcame Challenges He Never Saw Coming

    This entrepreneur and Yale dropout hoped.

  • How to Make Promising Opportunities Come to You

    Grow your business and personal passion.

  • Sacrifice Your Way to Your Dream Job in Sports

    This former mailroom worker talks about.

  • Jay-Z Gets Into the Pot Game

    The legendary rapper/entrepreneur got 99 problems.

  • Fitness Professional Jay Dang on Why Confidence Is the Key to Success

    You have to earn it. July.