Apple, Greece Help Dow Jones Industrial Average Bounce

Dow Up Triple Digits; Plus, 22 Stocks Flashing 'Buy'?

May 27, 2015 at 11:58 AM
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The Dow Jones Industrial Average (DJIA) is notably higher today -- and is putting a dent in yesterday's steep losses -- despite a continued rise in the dollar. Helping to lead the blue-chip barometer north is Apple Inc.'s (NASDAQ:AAPL) 1.7% pop, which comes in the wake of Tuesday's upbeat analyst note, as well as reports that Greece may soon hash out a deal to meet its debt obligations. Also in focus are retailers Michael Kors Holdings Ltd (NYSE:KORS) and Tiffany & Co. (NYSE:TIF), with the equities headed in decidedly different post-earnings directions.

 

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

 

 

Midday Market Stats

 

Among the stocks with notable option volume is Workday Inc (NYSE:WDAY), with the contracts changing hands at 11 times what's typically seen at this point in the day. Shares of the cloud concern are down 10.7% at $82.58 -- and on track for their lowest daily close since mid-March -- after the company's current-quarter outlook was met with a round of bearish brokerage attention. Option traders are split on the stock's near-term trajectory, with buy-to-open activity detected at WDAY's June 85 call and July 75 put.

 

For the second day in a row, Youku Tudou Inc (ADR) (NYSE:YOKU) is one of the leading laggards on the Big Board. Since topping out at an annual high of $31.40 on Friday, the Internet stock has shed 12.4% -- including today's 6.6% plunge -- to trade at $27.52.

 

One of the biggest gainers on the Nasdaq is Five Prime Therapeutics Inc (NASDAQ:FPRX). The stock is up 12.6% at $22.15 -- and barreling through its 40-day moving average -- on reports of a new licensing agreement with fellow drugmaker bluebird bio Inc (NASDAQ:BLUE) to develop a cancer cell therapy. Longer term, shares of FPRX are down 17.6% on the year.

 

Daily Chart of FPRX Since January 2015 With 40-Day Moving Average

 

After closing above its 50-day moving average for the first time since May 7 yesterday, the CBOE Volatility Index (VIX) is down 0.7 point, or 4.6%, at 13.41 -- and back below this notable level.

 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.65, with puts easily outpacing calls. At midday, SPY is up 1.3 points, or 0.6%, at $211.99.

 

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