Dow Jones Industrial Average Fights Back from Early Sell-Off

Bomb Threat Hits Airline Stocks; Plus, Skeptics Eye AMBA Earnings

Jun 2, 2015 at 11:42 AM
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The Dow Jones Industrial Average (DJIA) is attempting to come back from early weakness, having shed more than 115 points at its morning low. Weighing on the blue-chip bellwether are ongoing Greek woes, as well as an unexpected decline in factory orders -- both of which are overshadowing generally upbeat May auto sales data (though there were exceptions). Finally, Fed Governor Lael Brainard offered some reassurance to those fearing a June rate hike, saying in a speech today that she doesn't expect a significant second-quarter "bounceback," based on recent data.

 

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Among the stocks with notable put volume is ImmunoGen, Inc. (NASDAQ:IMGN), with the contracts crossing at 20 times the average intraday rate. The most active strike is the June 15 put, where possible buy-to-open activity is transpiring. IMGN was last seen 7.4% lower at $14.30 -- just a day after hitting an annual high.

 

One of the top gainers on the Nasdaq is Vical Incorporated (NASDAQ:VICL), up 18.2% at $1.04, thanks to a bullish brokerage note. However, the stock remains a penny below its year-to-date breakeven mark, and is currently testing resistance at its 160-day moving average.

 

One of the notable winners on the Big Board is Youku Tudou Inc (NYSE:YOKU), which is soaring on a partnership with Walt Disney Co (NYSE:DIS). At last check, YOKU was 11% higher at $30.68, bringing its year-to-date lead north of 72%. Also, at its intraday peak of $31.15, the stock was within striking distance of its annual high of $31.40, touched late last month.

 

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The CBOE Volatility Index (VIX) is up 0.5 point, or 3.3%, at 14.43.

 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 2.04, with puts more than doubling calls. At last check, SPY was off 0.1 point, or 0.06%.


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