Dow Jones Industrial Average Struggles Amid Disappointing Data

Inside Netflix's New High, Keurig's Big Swoon

May 15, 2015 at 11:49 AM
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The Dow Jones Industrial Average (DJIA) has been choppy all day, with the blue-chip index currently sitting in negative territory. Weighing on the Dow is a sharper-than-expected drop in the Thomson Reuters/University of Michigan consumer sentiment index, which registered at a seven-month low. Also, U.S. industrial production slipped for a fifth consecutive month, and the Empire State manufacturing index came in below expectations. However, the Dow remains on track for a second consecutive weekly win.

 

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Among the stocks with notable call volume is Avis Budget Group Inc. (NASDAQ:CAR), with the contracts trading at 25 times the usual intraday rate. Prompting the surge in activity is a 9.5% jump in the shares, last seen at $55.92. The stock is catching a halo lift today from sector peer Hertz Global Holdings Inc (NYSE:HTZ), which is rallying on the heels of last night's earnings report. Digging deeper, buy-to-open activity is taking place at CAR's May and June 55 calls.

 

One of the biggest losers on the Nasdaq is restaurateur El Pollo Loco Holdings Inc (NASDAQ:LOCO), down 15.2% at $24.65. The shares are reeling after the company last night reported weaker-than-expected same-store sales and issued underwhelming guidance. What's more, the stock could now face pressure from its overhead 100-day moving average.

 

Daily Chart of LOCO Since January 2015 with 100-Day Moving Average

One of the notable laggards on the Big Board is "Candy Crush" parent King Digital Entertainment PLC (NYSE:KING), following a disappointing current-quarter gross bookings projection and a round of price-target reductions. At last check, KING was off 3.6% at $14.45, and on track for its lowest finish since March 6.

 

The CBOE Volatility Index (VIX) is up 0.06 point, or 0.5%, at 12.80.

 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.50, with puts outstripping calls. At last check, SPY was off 0.1 point, or 0.06%, at 212.08.


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