The DJIA is hovering near record highs
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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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.
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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