Dow Jones Industrial Average Dips Ahead of Winter Storm Juno

Mattel, Inc.'s (MAT) CEO has unexpectedly resigned

by Alex Eppstein

Published on Jan 26, 2015 at 11:50 AM
Updated on Apr 20, 2015 at 5:32 PM

The Dow Jones Industrial Average (INDEXDJX:DJI) is little changed around midday, despite pre-market jitters over Greece's election results. Also looming on the horizon is Winter Storm Juno, scheduled to hit the Northeast later this afternoon, with New York City Mayor Bill de Blasio warning residents this will be "one of the largest snowstorms in the history of the city." At last check, the Dow was 20.8 points, or 0.1%, lower. In company news, International Business Machines Corp. (NYSE:IBM) is 1.1% higher despite dismissing layoff-related rumors, while Mattel, Inc. (NASDAQ:MAT) has dropped nearly 5% -- and hit a multi-year low of $24.88 -- following the resignation of CEO Bryan Stockton and disappointing quarterly guidance.

Continue reading for more on today's market -- and don't miss:

Midday Market Stats

Among the stocks with notable call volume is designer Coach Inc (NYSE:COH), which is down 1.9% to hover near $36.91. The contracts are running at nine times the usual intraday clip, ahead of tomorrow morning's earnings report. According to Trade-Alert, a block of 10,575 at-the-money May 37 calls was likely sold to close.

For more midday statistics and stocks on the move, head to page 2.

Mortgage lender Ocwen Financial Corp (NYSE:OCN) is among the notable gainers on the Big Board, after settling a dispute with California regulators and disputing the allegations of an investor group. Specifically, the shares have popped 13.7% to trade at $7.22, partially recovering from Friday's beat-down.

Data storage expert Western Digital Corp (NYSE:WDC) is one of the biggest losers on the Nasdaq, down 7.6% at $98. The shares are being pressured lower after sector peer Seagate Technology PLC (NASDAQ:STX) reported quarterly revenue below the Street's consensus estimate. WDC is now on track to close below $100 for the first time since Nov. 19.

Daily Chart WDC Since November 2014

The CBOE Volatility Index (VIX) is down 0.4 point, or 2.5%, at 16.24.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.95, with puts almost doubling calls. At last check, SPY is unchanged at $204.97.


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