Dow Jones Industrial Average Deflates Post-Fed

Big-Time M&A Buzz Lights Up Biotech

by Andrea Kramer

Published on Oct 29, 2015 at 12:00 PM

After rallying nearly 200 points yesterday, the Dow Jones Industrial Average (DJIA) has deflated a bit, as traders digest mostly uninspiring data and continue to reflect on yesterday's Fed statement. Third-quarter gross domestic product (GDP) came in below expectations, and pending home sales dropped for a second straight month. Weekly jobless claims, meanwhile, grew by a smaller-than-expected margin. Outside of economic data, traders are still mulling the possibility of a December rate hike, and in Washington, D.C., Wisconsin Republican Paul Ryan is addressing Congress as the newly elected Speaker of the House.

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

 


151029MMC


Among the stocks with notable option activity is Ambarella Inc (NASDAQ:AMBA), which is swooning in sympathy with GoPro Inc (NASDAQ:GPRO), to which it provides chips. AMBA was last seen 7.6% lower at $52.17, and intraday options volume is running at three times the norm. It looks like some bears are cashing in their chips by selling to close the weekly 10/30 53-strike put, which is now in the money.

One of the NYSE's top performers is identity-theft protection provider Lifelock Inc (NYSE:LOCK), which has skyrocketed 46.8% to $14.22, thanks to solid sales figures and news of a settlement with the Federal Trade Commission (FTC). The shares are now poised to close atop their 200-day moving average for the first time since mid-July, before the FTC's accusations of deceptive advertising.

151029MMC_LOCK

Among the leading losers on the Big Board is vitamin peddler GNC Holdings Inc (NYSE:GNC), which has plummeted 30.4% to $26.90. The shares were temporarily halted out of the gate -- and earlier touched a three-year low of $26.34 -- after the company reported an earnings miss and cut its full-year forecast. At last check, Wall Street is awaiting a conference call that's been suspended due to technical difficulties

The
CBOE Volatility Index (VIX) is up 0.7 point, or 4.8%, at 15.02.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.14, with puts having the edge over calls. At last check, SPY was 0.6 point, or 0.3%, lower at $208.33.


CHART



CHART

CHART
CHART

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


The Nevada Discovery That Could Jeopardize Chinese Dominance
Click to continue to advertiser's site.
UNH Stock Pops on Accelerated Payment Promise
Analysts are very bullish on UnitedHealth stock
Extra Space Storage Stock Wavers After Downgrade
Raymond James downgraded to "underperform" from "market perform"
The Top Lithium Play of 2020
Click to continue to advertiser's site.