Dow Jones Industrial Average Tries for a Second Straight Win

3 Big Earnings Misses; Plus, Why Bears Are Flooding Tesla

Feb 25, 2016 at 12:20 PM
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The Dow Jones Industrial Average (DJIA) has turned higher at midday, with help from a big rebound in durable goods orders and dovish comments from both St. Louis Fed President James Bullard and Atlanta Fed President Dennis Lockhart. Stocks are attempting to shrug off a steep sell-off in China and declining oil prices; April-dated crude futures have plunged 1.6% to $31.65 per barrel, as speculators fret over a global crude supply glut. At last check, the Dow was in the green -- trying to make it two in a row.

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

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Among the stocks with unusual put volume is Transocean LTD (NYSE:RIG), with the contracts crossing at seven times the average intraday pace. The oil-and-gas issue is extending yesterday's sharp decline -- down 4.2% at $7.85 -- after reporting earnings. It looks like some speculators are betting on the $7 level to hold as short-term support, though, with sell-to-open activity detected at RIG's March 7 put.

Alternative energy concern Sunedison Inc (NYSE:SUNE) is one of the biggest advancers on the New York Stock Exchange (NYSE), up 32% at $1.67, following news Vivint Solar Inc (NYSE:VSLR) shareholders have approved SUNE's takeover of the company. Despite today's surge, shares of SUNE are still lingering in 14-year low territory, down 93% year-over-year.

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Financial information provider Bankrate Inc (NYSE:RATE) is one of the biggest losers on the NYSE today, down 47% at $6.78, after the company's fourth-quarter results fell short of analysts' estimates. Earlier, the stock fell to a record low of $6.59, and has lost nearly half its value year-to-date.

The CBOE Volatility Index (VIX) is down 0.3 point, or 1.2%, at 20.47.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.77, with puts nearly doubling calls. SPY is up 0.2% at $193.45.
 

  

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