Dow Jones Industrial Average Dragged Lower By Apple

3 Apple Suppliers Feeling the Heat

by Josh Selway

Published on Nov 10, 2015 at 12:18 PM

The Dow Jones Industrial Average (DJIA) ​made a brief visit to positive territory, but has spent most of the morning cautiously lower, weighed down by Apple Inc. (NASDAQ:AAPL). Aside from an International Energy Agency (IEA) report and a drop in import prices, there hasn't been much in the way of data, but fears of a December rate hike are still dominating the Street. The Nasdaq Composite (COMP) and S&P 500 Index (SPX) aren't faring much better, with the latter on pace for a fifth straight loss

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Among the stocks with notable put activity is Sunedison Inc (NYSE:SUNE). Shares of the energy firm have dropped 18% to $6.07, and earlier hit a two-year low of $5.59, amid more liquidity concerns. Put players have jumped in, with the contracts changing hands at eight times the average intraday pace. 

One of today's big winners on the Big Board is Chipotle Mexican Grill, Inc. (NYSE:CMG), after the company announced it'd re-open the West Coast restaurants it had to close due to an E. coli outbreak. Shares of the fast-casual diner have now added 2.2% to sit at $692.22, though their breakout was cut short by their 10-day moving average. 

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Among the leading losers on the NYSE is energy name Freeport-McMoRan Inc (NYSE:FCX), as it follows its sector peers lower. The stock is down 5.5% at $9.92, steepening its year-to-date deficit to 57.4%.

The CBOE Volatility Index (VIX) is down 0.3 point, or 2.1%. 

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.94, with puts nearly doubling calls. SPY was last seen 0.4 point, or 0.2%, lower at $207.71. 


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