Dow Jones Industrial Average Takes Aim at New High

Solar Stocks Swing on Sunedison; Plus, New Highs for Delta?

Apr 14, 2016 at 11:59 AM

The Dow Jones Industrial Average (DJIA) is clinging to modest gains today, putting it on track for a third straight daily win and its highest close of the year. Meanwhile, traders are digesting the latest round of bank earnings and a choppy day for oil prices -- with May-dated crude futures last seen 0.3% higher at $41.87 per barrel, ahead of this Sunday's highly anticipated meeting of global oil producers in Doha, Qatar. At the same time, stocks are reacting positively to Atlanta Fed President Dennis Lockhart's change of heart regarding an April interest-rate hike.

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

2 reasons Delta Air Lines, Inc. (NYSE:DAL) could fly to record highs.
3 solar stocks swinging wildly on Sunedison Inc's (NYSE:SUNE) audit update.
Plus ... Checking in on the CBOE Volatility Index (VIX), the SPDR S&P 500 ETF Trust (SPY), and stocks on the move at midday.

Midday market stats April 14

Among the names with unusual call volume is solar stock SUNE, with the contracts crossing the tape at more than two times the normal intraday rate. From the looks of it, traders may be selling to close their now in-the-money April 0.50 calls, as the shares blaze a trail higher on audit results. At last check, SUNE has advanced over 68% to flirt with $0.62.

Among the top performers on the Big Board is 3D Systems Corporation (NYSE:DDD), up 12.6% at $18.70. The 3-D printing stock is getting a huge lift from a well-deserved bullish brokerage note.

DDD daily chart

One of the worst performers on the Nasdaq is data storage specialist Western Digital Corp (NASDAQ:WDC), which has plunged 7.4% to hover near $41.49. Dropping the stock are a bearish note from Craig-Hallum and sector headwinds due to this sector peer's guidance cut.

The CBOE Volatility Index (VIX) is down 0.4 point, or 2.7%, at 13.47.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.71, with puts easily outstripping calls. At last check, SPY is 0.3 point, or 0.1%, higher at $208.29.

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