Earnings, Visa Have Dow Jones Industrial Average Eyeing 18K

Visa, McDonald's Lead Dow Higher; Plus, 3 Earnings Winners

by Alex Eppstein

Published on Apr 22, 2015 at 11:50 AM
Updated on Apr 22, 2015 at 11:57 AM

The Dow Jones Industrial Average (DJIA) is trekking higher -- and flirting with the 18,000 millennium mark -- as traders digest the latest batch of earnings reports. Helping the index pare a portion of Tuesday's losses are a big earnings win from McDonald's Corporation (NYSE:MCD) and optimism about a potential foray into China for Visa Inc (NYSE:V). In other news, existing homes sales for March outstripped the Street's consensus estimate, and reached their highest level since September 2013.

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



150422mmc1


Among the stocks with notable call activity is Organovo Holdings Inc (NYSEMKT:ONVO), with the contracts crossing at five times what's expected at this point in the day. Bullish betting is accelerated on news the company has entered into a research agreement with Merck Sharp and Dohme Corp., which has sent the shares 18.6% higher to $5.30. ONVO's May 6 call is seeing likely buy-to-open activity, as speculators wager on the security to topple $6 by the close on Friday, May 15, when front-month options expire.

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

Angie's List Inc (NASDAQ:ANGI) is among the biggest winners on the Nasdaq, surging 13.3% to trade at $6.97 -- and muscling back into positive year-to-date territory. Sparking the upside move was an unexpected quarterly profit -- as well as potential short-covering activity, considering more than one-fifth of the stock's float is sold short.

150422angi  


Cree, Inc. (NASDAQ:CREE) is one of the biggest decliners on the Nasdaq, dropping 9% to trade at $32.20. The shares are getting punished by the brokerage bunch following a fiscal third-quarter earnings miss, as both Deutsche Bank and Canaccord Genuity slashed their price targets to $31 from $34. As mentioned previously, CREE is no stranger to post-earnings downside.

The CBOE Volatility Index (VIX) is down 0.2 point, or 1.8%, at 13.01.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.79, with puts nearly doubling calls. SPY was last seen up 0.4 point, or 0.2%, at $210.04.


A Schaeffer's exclusive!

The Expert's Guide

Access your FREE trading earning announcements before it's too late!


 
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


Look Who's Going Bankrupt Next in America
Porter Stansberry is making a concerning prediction.
Apparel Name Boosted By Earnings Beat
Three analysts have moved their price targets down to $60
Black & Decker Withdraws 2020 Guidance, Cuts Non-Essential Staff
Black & Decker said it would reduce any non-essential staff and decided to withdraw its 2020 forecast
Look Who's Going Bankrupt Next in America
Porter Stansberry is making a concerning prediction.