Wayfair Surges Nearly 28% on Strong Earnings

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Todd Peters, senior vice president at Adviser Investments, has the market analysis for Friday, February 22. Despite a lack of meaningful economic indicators, all major U.S. stock indexes advanced. The Dow Jones Industrial Average and S&P 500 both advanced 0.7% and the NASDAQ rose 0.9%. This marks the ninth consecutive week of gains for both the Dow and NASDAQ. Meanwhile, Kraft Heinz’s stock plunged 27% after the company missed both sales and earnings expectations, cut its dividend and reported a $15.4 billion write-down. Wayfair, on the other hand, saw its stock surge nearly 28% on lower than expected quarterly losses and a 40% year-over-year sales gain.

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