Dow Jones Industrial Average Slides on Earnings; Gold Hits Low

Apple, Microsoft Send Dow Reeling

by Alex Eppstein

Published on Jul 22, 2015 at 11:48 AM

The Dow Jones Industrial Average (DJIA) is staring at significant losses, due to some lackluster earnings performances -- including one by blue chip Microsoft Corporation (NASDAQ:MSFT). Even Dow components Boeing Co (NYSE:BA) and The Coca-Cola Co (NYSE:KO) -- which topped quarterly expectations this morning -- are struggling to hold on to earlier gains. Elsewhere, existing home sales came in better than expected last month, home prices rose in line with estimates, crude stockpiles unexpectedly jumped -- exacerbating the commodity's downward trend -- and gold touched yet another five-year low.

 

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

 

 

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Among the stocks with notable call volume is GoPro, Inc. (NASDAQ:GPRO), as the contracts are crossing at six times the usual midday rate, on the heels of a strong quarterly report. The weekly 7/24 series is extremely active today, accounting for eight of the 10 most popular strikes. At last check, GPRO has stepped back 2.2% to trade at $60.66, but since its March 10 low at $37.13, has surged over 63%.

 

One of the top gainers on the Big Board is Lifelock Inc (NYSE:LOCK), which is bouncing back from Tuesday's sell-off despite getting hit with a round of bearish brokerage attention. At last check, shares of the identity protection firm have popped 9.1% to trade at $8.89, but are still sitting on a 52% year-to-date deficit.

 

One of the biggest advancers on the Nasdaq is medical equipment maker Intuitive Surgical, Inc. (NASDAQ:ISRG), boosted by an earnings beat and several bullish analyst notes. Currently, ISRG is up 10.6% at $558.49, and fresh off an annual high of $564.86.

 

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The CBOE Volatility Index (VIX) is up 0.2 point, or 1.4%, at 12.39.

 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.82, with puts nearly doubling calls. At last check, SPY is off 0.2% at $211.35.


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