Sinking Bank Stocks Keep Dow Jones Industrial Average in the Red

2 Stocks Flashing 'Buy'

Feb 8, 2017 at 12:13 PM
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The Dow Jones Industrial Average (DJIA) fell out of the gate, with stocks pressured by falling oil prices. The Dow has since pared its losses, with March-dated crude futures now trading up 0.5% at $52.41 per barrel, following the Energy Information Administration's (EIA) weekly crude inventories report. Specifically, data showed domestic gasoline stockpiles unexpectedly fell last week, which is helping to overshadow the second largest weekly rise in U.S. crude inventories on record. Nevertheless, a sell-off in financial shares is keeping the Dow in the red, with bank stocks Goldman Sachs Group Inc (NYSE:GS) and JPMorgan Chase & Co. (NYSE:JPM) applying the most pressure.

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

  • The reliable "buy" signal that just flashed for these 2 stocks.
  • Goldman Sachs sets a 25% upside target for Walt Disney Co (NYSE:DIS).
  • Plus, options pop on spiraling Gilead Science, the staffing stock at new highs, and another sharp drop for DryShips.

Midday Market Stats Feb 8

Among the stocks with unusual volume at midday is biotech Gilead Sciences, Inc. (NASDAQ:GILD). The shares are down 9.4% at $66.25 -- fresh off a two-year low of $65.75 -- after the company's disappointing guidance. With GILD on the short-sale restricted list, options are crossing at seven times their usual daily volume, with 91,215 calls and 82,349 puts traded, both on track to notch new annual highs. The June 60 and 67.50 puts are most active, where it looks like one option trader may be rolling down her bearish bet.

Kforce Inc. (NASDAQ:KFRC) is among the top performers on the Nasdaq at midday, currently trading 20.6% higher at $25.75 -- and earlier hit a new 12-month peak at $26.95 -- after the staffing service delivered an earnings beat and received a price-target hike to $25 from $24 at Deutsche Bank. KFRC is now trading up more than 34% year-over-year, and today's move north puts the shares above recent resistance in the $23-$24 neighborhood, after a sharp bounce off its 80-day moving average.

170208KFRC

Among the worst performers on the Nasdaq is shipping stock DryShips Inc. (NASDAQ:DRYS), which is down 15.7% at $4.07. The company's disappointing earnings report and hefty impairment charge is pressuring the shares, and extending DRYS' 99% year-over-year decline.

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