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Walt Disney Co (DIS) hit an all-time high in the wake of its quarterly earnings report
The Dow Jones Industrial Average (INDEXDJX:DJI) has been on both sides of breakeven today, but appears poised to extend its daily winning streak to three. At last check, the blue-chip barometer was up 65 points, or 0.4%, as an earnings-induced rally -- and new record high -- for blue chip Walt Disney Co (NYSE:DIS) overshadows crude oil's sharp retreat. Elsewhere on the Street, the S&P 500 Index (SPX) and Nasdaq Composite (COMP) are also avoiding energy-related headwinds -- and a lower-than-expected ADP employment report -- and are both flirting with modest gains.
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Among the stocks with notable put volume is Office Depot Inc (NASDAQ:ODP), with the contracts trading at 18 times the average intraday pace. The stock is up 1.3% at $9.40 -- after earlier tagging a six-year high of $9.63 -- after Staples, Inc. (NASDAQ:SPLS) agreed to buy the office supply chain. Considering SPLS' offer values ODP at $11 per share, it appears a number of today's options traders are selling to close their April 9 puts -- the equity's most active option.
For more midday statistics and stocks on the move, head to page 2.
Sony Corp (ADR) (NYSE:SNE) is leading the charge on the Big Board, after the media and electronics firm forecast a smaller-than-expected net annual loss and stronger-than-forecast preliminary fiscal third-quarter results (which were delayed in late January). At midday, the stock is up 11.2% at $26.02, after earlier hitting a three-year peak of $26.13. Should the equity extend its 27% year-to-date advance, a round of price-target hikes could be on the horizon, considering its consensus 12-month price target of $28.04 is within a chip-shot of current trading levels.
Biopharmaceutical firm Gilead Sciences, Inc. (NASDAQ:GILD) is one of the biggest losers on the Nasdaq, after a dreary 2015 revenue outlook was met with a round of price-target cuts. At last check, the shares were off 7.8% at $98.79 -- and testing support atop their 40-week moving average, a trendline that has guided the equity higher for more than three years.
The CBOE Volatility Index (VIX) is down 0.1 point, or 0.8$, at 17.20.
Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.63, with puts having the edge over calls. At last check, SPY is down 0.1 point at $204.61.