A mixed day for stocks did not stop S&P 500 Index (SNPINDEX: ^ SPX) from moving 18 points higher on September 15, with the massive technology sector leading the way. That Technology Select Sector SPDR (NEW: XLK), which tracks technical stocks in the S&P 500, rose more than 1% today.
The technology sector accounts for almost 30% of the total value of the index, which gives it an excessive impact on the daily movements of the S&P 500, especially the technology competitions at the top of the market stack. For example, one of today’s best-performing technical stocks was Adobe Systems (NASDAQ: ADBE), with shares gaining 2.4% after the company reported its third-quarter results.
On the downside today, Carnival (NYSE: CCL) shares fell nearly 11% as the company announced preliminary results for the third quarter, much to the disappointment of investors, who expected a large loss but not a $ 1 billion share offer.
In other notable news, Apple (NASDAQ: AAPL) got consumers excited as they announced a host of new products and services while Kraft Heinz (NASDAQ: KHC) announced a $ 3 billion deal to relieve most of its cheese business.
Carnival redeems, shareholders come out
Carnival’s preliminary results were largely expected, as the company announced that it lost 2.9 billion. $ In its fiscal third quarter, as the industry is still largely unable to return to the oceans. Carnival has started some limited sailings with its Costa and AIDA lines, but without a combination of fast, accurate and inexpensive tests, better treatments and widespread vaccines, the coronavirus pandemic is holding the industry firmly in port.
Possibly the biggest reason Carnival shares fell sharply today was the news that the company would sell an additional $ 1 billion. $ In stock to raise more cash and watered down investors who have bought, hoping the company already had enough cash to eradicate a prolonged downturn.
Shares of Norwegian Cruise Line Holdings (NASDAQ: NCLH) and Royal Caribbean (NYSE: RCL) also fell on Carnival’s announcement and lost 4.6% of their value today.
Apple aims for health and fitness, more services
The giant of all tech giants unveiled a number of new gadgets today, including the addition to its range of Apple Watch products. The Series 6 models add an oxygen sensor to the bloodstream, while the addition of the Apple Watch SE under $ 300 is likely to draw more consumers into the Apple Watch ecosystem.
The Cupertino giant unveiled the Apple Fitness +, a service built specifically around the Apple Watch. For $ 9.99 pr. Month, users get access to a wide range of exercise content, including videos designed to engage and support a healthy lifestyle. The company also rolled out a number of packages with various Apple services, something that should attract some customers to add new content at a lower price before the bundling offers.
Apple also announced updates to the iPad line, now in its 8th generation, including faster and more capable processors and a completely redesigned iPad Air.
Are you looking for an update on the new 5G iPhone? You will have to wait a little longer. The company plans to hold an iPhone event later in the year.
Kraft Heinz sells his … cheese business?
In return for 3.2 billion. Dollar sells the packaged food giant perhaps best known by Americans for its Mac & Cheese a large portion of its cheese business to Groupe Lactalis. The deal includes some reputable Kraft brands, including Cheez Whiz (which one might argue not even cheese) and international production of Velveeta, but other brands including Cracker Barrel, Knudsen and Breakstone that are not identified as part of the larger brand .
The sale appears to be largely about addressing the Kraft Heinz balance sheet, with a $ 29 billion inflated debt that continues to weigh on the company. Management said they would use the proceeds of the deal, which is expected to be finalized in 2021, to repay debt.