The DJIA is on track for its fourth straight weekly win, while the SPX and COMP could snap their hot streaks
The Dow Jones Industrial Average (DJIA) is spinning its wheels following a mixed jobs report, as uncertainty builds ahead of Italy's constitutional referendum on Sunday. Yet, the Dow is still poised for its fourth consecutive weekly gain. On the other hand, while the broader S&P 500 Index (SPX) and tech-focused Nasdaq Composite (COMP) are trading modestly higher, both are on track to snap their multi-week winning streaks -- which could have negative longer-term implications for stocks.
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Among the stocks with unusual options volume at midday is Ulta Salon, Cosmetics & Fragrance, Inc. (NASDAQ:ULTA), with the contracts running at 10 times the usual intraday clip. Last-minute speculators are honing in on the weekly 12/2 260-strike call, which is ULTA's most active option. Technically speaking, the retail stock is down 0.9% at $255.10, despite some bullish post-earnings analyst attention.
Semiconductor stock Ambarella Inc (NASDAQ:AMBA) is among the worst performers on the Nasdaq, down 8.3% at $56.28. The shares are getting crushed after the company's disappointing guidance prompted a series of price-target cuts.
Even worse off -- and the top percentage loser on the Nasdaq -- is gun aficionado Smith & Wesson Holding Corp (NASDAQ:SWHC). The shares are down 10.3% at $21.52, and on the short-sale restricted list. Exacerbating losses on the stock are SWHC's gloomy earnings outlook and a pair of price-target cuts.
The CBOE Volatility Index (VIX) is off 0.5 point, or 3.8%, at 13.53.
Today's put/call volume ratio on the SPDR S&P 500 ETF Trust (SPY) is 1.46, with puts outpacing calls. At last check, the SPY is up 0.4 point, or 0.2%, at $220.00.
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