Stocks weak as GOP tax bill passes House

Stocks can’t get going on a day the GOP closes in on a major legislative victory. Plus, Apple has been downgraded: Is an iPhone X super cycle not in the cards? And bitcoin’s all the rage, but is litecoin the wave of the future for crypto traders? We explain. Plus a look ahead to everything you need to know about tomorrow, which will be a big day for General Mills and Bed Bath & Beyond. Catch The Final Round at 3:55 ET p.m. with Jen Rogers and Yahoo Finance’s Myles Udland and Dan Roberts.

Winners and losers

Stocks in the red today include Chicago Bridge & Iron as it will be bought in an all stock deal by rival oil services rival McDermott; City Office as the REIT announced a secondary offering of 4 million shares, and Cree — shares of the LED light maker swooning as Northland Capital Markets downgraded the stock to underperform, and JPMorgan added it to the Analyst Focus List as a “short idea.”

Stocks in the green today include Cars.com on reports activist Starboard Value acquired a nearly 10% stake in the company, Darden Restaurants as the Olive Garden parent beat on earnings and lifted its full-year 2018 forecast, and Roku — shares of the streaming device-maker popping after an SEC filing revealed Morgan Stanley has a passive 5.1% stake in Roku.

By using Yahoo you agree that Yahoo and partners may use Cookies for personalisation and other purposes