Dow Jones Industrial Average Soars on Oil; S&P, Nasdaq Notch New Highs

The Dow Jones Industrial Average (DJIA) is trading higher as December-dated crude oil futures soar 3.4% to $47.22 per barrel, amid hopes of a production cut by the Organization of Petroleum Exporting Countries (OPEC). With energy stocks leading the way, the S&P 500 Index (SPX) is just off a record intraday high, as is the tech-rich Nasdaq Composite (COMP), while the Dow is within a chip-shot of its all-time best.

• 2 skyrocketing chip stocks that could have room to run, according to Barron's.
• Analyst: Apple Inc. (NASDAQ:AAPL) "lacks the courage to lead the next generation of innovation."
• Checking in on the CBOE Volatility Index (VIX), the SPDR S&P 500 ETF Trust (SPY), and other noteworthy stats at midday.

• Plus... one retailer lower ahead of earnings, a cybersecurity buyout, and the shipping stock on a wild ride.

Among the stocks with unusual volume at midday is retailer Burlington Stores Inc (NYSE:BURL), ahead of delivering earnings tomorrow morning. BURL is currently trading 2% lower at $76.42, with options crossing at eight times their average intraday rate, as calls lead puts 2,145 to 1,867. It looks like most of the action is attributable to a bearish ratio spread at the December 75 put and 85 call, according to data from the International Securities Exchange (ISE).

Cybersecurity firm Lifelock Inc (NYSE:LOCK) is among the top performers on the Nasdaq today, currently trading 15.5% higher at $23.97, after it was revealed that rival Symantec Corporation (NASDAQ:SYMC) will be purchasing the the company in a deal worth $24 per share, or $2.3 billion total. LOCK is currently up by over 66% so far in 2016, and earlier notched an all-time high of $23.98.

Shipping stock DryShips Inc (NASDAQ:DRYS) is among the worst performers on the Nasdaq today, currently down 14.6% at $10.09. It's been a very volatile post-election run for shipping stocks, with DRYS last week exploring a range of more than 90 points, and making a valiant run at its 200-day moving average. Today, the shares of DRYS initially rallied on word of an agreement with one of its lenders, but the stock has since pulled back with its sector peers.

The CBOE Volatility Index (VIX) is down 0.4%, or 0.1 point, at $12.80.

Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.10, with puts leading calls. At the last check, SPY was up 0.5%, or 1.10 points, at $219.60.

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