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New All-Time Closing Highs for Dow, Nasdaq, S&P

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Market indexes were once again higher across the board this Monday, with three of the four majors reaching fresh all-time closing highs: the Dow hit its 40th high mark of the year so far, +0.26% to 35.913; the Nasdaq has done almost as well overall — its 39th record closing high this year, +0.63% to just below 15,596; and the S&P 500 posted its 60th record high in 2021 today — with about 8 more weeks of trading for the year to go — +0.18% on the day.

The small-cap Russell 2000 is the only one of the four major indexes to not hit a new all-time closing high today, but it is only a couple points off. And this index hit its all-time high mark way back in March of this year. On the day, the Russell crushed the competition, +2.65%.

Tesla (TSLA - Free Report) gave the biggest boost to both the Nasdaq and S&P today, as the EV giant gained another +8.5% in its stock value today, on basically no news. CEO Elon Musk’s company, which currently slates him as the richest human being in earth, has grown +54.6% in the past month alone, +76.5% over just the past six months and a whopping +201.8% from this time last year. Understandably, it’s got a Zacks Value Score of F but a Zacks Growth Score of A.

Zacks Rank #1 (Strong Buy)-rated Avis Budget Group (CAR - Free Report) demolished estimates on both top and bottom lines after the closing bell today, posting $10.74 per share on $3.00 billion in quarterly sales. These figures are in another orbit from expectations of $6.90 per share and $2.81 billion, respectively. Its top-line growth amounts to +116% year over year.

On the other side of things, Zacks Rank #5 (Strong Sell)-rated Clorox (CLX - Free Report) also easily outperformed consensus estimates this afternoon. Earnings of $1.21 per share zoomed past the $1.01 expected, on $1.81 billion in revenues which swept beyond the $1.70 billion analysts were looking for. Its Gross Margin of 37% was also higher than anticipated. As a result, shares of Clorox have blossomed +5.2% in late trading Monday.

One company that has really hit the skids in the late session, however is education tech firm Chegg (CHGG - Free Report) , which met estimates of 20 cents per share but missed slightly on the top line — $171.9 million versus $173.7 million expected. But the reason the company stock is down -22% in today’s after-market is because of a big drop in current-year revenue estimates: now down  to $762 million from a previous Zacks consensus of $812.75 million.

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