Stocks snapped back from their worst losses in eight months seen a day earlier. Walmart (WMT) boosted the S&P 500 and Dow Jones Industrial Average following a better-than-expected quarter, while health care gave rise to the Nasdaq. Pandora (P) spiked on reports John Malone's Sirius XM (SIRI) had begun talks for a possible acquisition. Nearly two weeks earlier, Pandora created a committee to formally engage with prospective buyers. It was a punishing day for Ascena Retail (ASNA) after warning investors of a weaker third quarter. The Ann Taylor parent expects same-store sales to fall by 8% over its third quarter and as steep as 7% for the full year. CarMax (KMX) surged after an upgrade to OUTPERFORM from NEUTRAL at Wedbush Securities. The firm boosted its rating based on strength in its core business and higher earnings estimates.
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