Dow Jones Industrial Average Edges Higher; Tech Stocks in Focus

Why This E-Commerce Stock 'Excels'

Jul 18, 2016 at 12:21 PM
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The Dow Jones Industrial Average (DJIA) stumbled out of the gate, but quickly recovered to hover near record highs, as the latest batch of big-cap earnings beat expectations. The Nasdaq Composite (COMP) is outpacing its peers, as tech stocks rally on news of a $32 billion acquisition of ARM Holdings plc (ADR) (NASDAQ:ARMH) by Japan's Softbank. However, while global markets have largely shrugged off a failed military coup in Turkey, sinking oil prices are keeping momentum in check, with August-dated crude futures down 1.6% at $45.23 per barrel.

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Midday Market stats 071816

Among the stocks with unusual option volume is cereal giant Kellogg Company (NYSE:K), with puts crossing at 18 times their usual pace, as buyout buzz continues to swirl. The stock was last seen down 0.4% at $85.67, but touched a record high on July 14.

Radio technology firm ParkerVision, Inc. (NASDAQ:PRKR) is among the best performers on the Nasdaq today, up 76% at $6.27, after announcing a licensing and patent settlement agreement with Samsung.  PRKR notched a two-year high of $8.17 earlier.

3-D printer maker 3D Systems Corporation (NYSE:DDD) is among the worst performers on the New York Stock Exchange today. The stock is down 9.2% at $13.36, following a downgrade by Piper Jaffray. The shares seem to have found support in the $13 region, and now sit just above their 200-day moving average, which has acted as a foothold since March.

DDD 200 day moving average 071816

The CBOE Volatility Index (VIX) is down 0.5%, or 0.1 point, at 12.61.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.52, with puts leading calls. SPY is down 0.3%, or 0.6 point, at $216.43.

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