TIF - The Massive Stock Market Rebound Leaves Slack Tiffany Behind
September looked like it was shaping up to be a disaster for the stock market, but Wednesday morning's trading suggested that such a downbeat assessment might well be premature. After three days of substantial selling, major benchmarks rebounded with a vengeance. Investors seemed eager to jump back into the stocks that had gotten hit hardest to begin the month. As of just before 11 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was up 446 points to 27,946. The S&P 500 (SNPINDEX: ^GSPC) picked up 63 points to 3,395, while the Nasdaq Composite (NASDAQINDEX: ^IXIC) gained 272 points to 11,119.
There was plenty of good news among individual stocks, but not every company was lucky. Slack Technologies (NYSE: WORK) was a notable laggard on Wednesday morning, as investors reacted negatively to the collaboration platform's recent performance. Meanwhile, Tiffany (NYSE: TIF) got bad news on the merger and acquisition front after a deal that investors were counting on appears to have fallen through.
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