You can be on Entrepreneur’s cover!

Stock Market Retreats Off Record Highs as Facebook Prepares to Report Financial Results Chipotle and O'Reilly Auto Parts will also report after the market closes today.

By Andrew Osterland

entrepreneur daily

Opinions expressed by Entrepreneur contributors are their own.

NurPhoto | Getty Images

The stock market retreated off all-time highs set yesterday with the major stock indexes posting small declines today.

The S&P 500 and Dow indexes were both down 0.22 percent while the Nasdaq Composite index fell 0.23 percent. The Entrepreneur Index™ had a loss of 0.19 percent on the day.

The technology sector was generally weak with the exception of semiconductor chipmakers Analog Devices and NVIDIA Corp. Both were up after strong earnings from Texas Instruments today lifted the entire chip sector. Analog Devices, up 2.79 percent, set a 52-week high today. Chipmakers have had a strong recovery from the plunge at the end of last year. Analog's stock is up 36.7 percent this year while NVIDIA is up 43.2 percent.

Most other tech stocks on the index were down. Netflix (-2.01 percent) and Amazon (-1.14 percent) had the biggest declines.

Gap Inc. and L Brands both had strong days in the market, rising 3.31 percent and 3.24 percent respectively. L Brands, which recently struck a deal with activist investor Barington Capital to support the company's independent board of director nominees, has risen sharply in the last two sessions, putting its return for the year-to-date (1.79 percent) in positive territory. Gap, up just 0.47 percent so far this year, plans to split off its Old Navy brand from the rest of the company.

Other good gains on the Entrepreneur Index™ included Under Armour Inc. (2.01 percent) and Universal Health Services (1.74 percent).

Rollins Inc. shares got pummeled after the company reported financial results that missed estimates for the second consecutive quarter. The stock was down 10.06 percent -- the biggest loss on the Entrepreneur Index™ today. The pest control company missed earnings estimates by a penny and posted quarterly revenues more than one percent below expectations. The stock is still up 8.8 percent this year.

Oil and gas producer Hess Corp. fell 2.39 percent after inventories of U.S. crude oil increased by more than expected last week. Hess is the hottest stock on the Entrepreneur Index™ this year, rising 62.6 percent as the price of oil has rebounded.

Drug-makers Alexion Pharmaceuticals (-1.72 percent) and Regeneron Pharmaceuticals (-1.07 percent) were both down today after strong gains yesterday.

Tesla was also down sharply, falling 1.99 percent ahead of the company reporting financial results after the market close today. A CFRA analyst suggested that first quarter numbers "could be a disaster" for the company. Tesla reported profits in the last two quarters.

Four other companies on the Entrepreneur Index™ will report financial results after the market close today:

The Entrepreneur Index™ collects the top 60 publicly traded companies founded and run by entrepreneurs. The entrepreneurial spirit is a valuable asset for any business, and this index recognizes its importance, no matter how much a company has grown. These inspirational businesses can be tracked in real time on Entrepreneur.com.

Andrew Osterland is a contributing writer for CNBC.com. He specializes in capital markets, personal finance and taxes.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Business News

'Wildly Inappropriate': Woman Says She Was Denied a Job Because She Didn't Wear Makeup During the Interview

Melissa Weaver was applying for a VP of HR job at a tech company via video.

Business News

From Tom Brady to Kevin O'Leary – See Who Lost Big in the Wake of the FTX Crypto Collapse

The crash exposed an $8 billion hole in FTX's accounts, leaving investors and customers scrambling to recoup their funds.

Business News

This Highly-Debated Piece of Cinematic History Just Sold For Over $700,000 at Auction

The wood panel from "Titanic" is often mistaken as a door. Either way, he couldn't have fit. (Sorry.)

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.