STOCKS TANK: Here's What You Need To Know

It was a pretty intense day for investors today. There was tons of stock specific news today.

First, the scoreboard:

• Dow: 16,245.8 (-190.2, -1.1%)
  
• S&P 500: 1,815.9 (-26.4, -1.4%)
• Nasdaq: 4,098.7 (-75.8, -1.8%)

And now the top stories:

• Over the weekend, Goldman Sachs' David Kostin published a pretty bearish-sounding note about the stock market. From Kostin: "The current valuation of the S&P 500 is lofty by almost any measure, both for the aggregate market as well as the median stock: (1) The P/E ratio; (2) the current P/E expansion cycle; (3) EV/Sales; (4) EV/EBITDA; (5) Free Cash Flow yield; (6) Price/Book as well as the ROE and P/B relationship; and compared with the levels of (6) inflation; (7) nominal 10-year Treasury yields; and (8) real interest rates. Furthermore, the cyclically-adjusted P/E ratio suggests the S&P 500 is currently 30% overvalued in terms of (9) Operating EPS and (10) about 45% overvalued using As Reported earnings."
• There were no major economic announcements scheduled today. But a lot of companies saw volatility.
• Lululemon shares got slammed after the yoga-pants maker said sales would fall short of expectations. "We were on track to deliver on our sales and earnings guidance through the month of December; however, since the beginning of January, we have seen traffic and sales trends decelerate meaningfully," said CFO John Currie. "Based on this recent performance and assuming these trends continue through the remainder of January, we are reducing our outlook for the fourth quarter."
• SodaStream was another popular momentum stock that got punished today. "Despite achieving all-time record sales, we failed to deliver our profit targets and are disappointed in our fourth quarter performance," said CEO Daniel Birnbaum. "These preliminary results reflect a challenging holiday selling season in the U.S. and several factors, mostly from the second half of the quarter that negatively impacted our gross margin."
• Wendy's had a huge day after management said sales were actually doing better than expected. "Same-restaurant sales accelerated in the second half of the year compared to the first half," said the company in a press release. "Driving the positive same-restaurant sales growth was the strong consumer reaction to the Company's successful 2013 promotions, most notably, the Pretzel Bacon Cheeseburger, Pretzel Pub Chicken sandwich, and Bacon Portabella Melt on Brioche."
  
• Don't Miss: Goldman Sounds The Alarm On Stocks »