Dow Jones Industrial Average Cools with Oil Prices

2 Biotech Stocks Getting Burned By Analysts

Mar 16, 2017 at 12:01 PM
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The Dow Jones Industrial Average (DJIA) has given up its early gains, as stocks cool following yesterday's Fed decision. The S&P 500 Index (SPX) and Nasdaq Composite (COMP) have also been pulled lower, after the latter came within a point of all-time highs, with broad losses from healthcare stocks weighing on the indexes. Meanwhile, oil prices remain in focus after crude futures snapped a seven-session losing streak yesterday. At last check, April crude futures were down 0.3% at $48.73 per barrel. Traders also continue to digest this morning's economic data, including the latest jobless claims numbers. 

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

  • The $1 billion news boosting Tesla stock
  • Why analysts are throwing in the towel on these 2 biotech stocks
  • Plus, Electronic Arts options bears step up; GoPro's big day; and the potential takeover target taking a dive. 

stock market news today

Among the names seeing accelerated options trading today is video game stock Electronic Arts Inc. (NASDAQ:EA). Put options are active today, as the shares pull back after hitting a fresh record high of $91.82 out of the gate, last seen at $89.58. In fact, puts are trading at nine times the normal rate for this point in the day, with volume driven by what appears to be a ratio put spread involving the weekly 4/7 85- and 87.50-strike puts. Elsewhere, heavy buy-to-open activity seems to be taking place at the March 90 put, which expires tomorrow. Despite today's weakness, EA stock has been brilliant on the charts, adding close to 39% during the past 52 weeks. 

One of the top stocks on the Nasdaq today is GoPro Inc (NASDAQ:GPRO), with shares of the camera maker rallying 14.1% to $8.40, after the company announced plans to cut jobs and gave a promising first-quarter revenue prediction. Still, GPRO stock has a lot of ground to make up with shareholders, since its 52-week high from October stands at $17.68.

gopro stock news

On the other end of the Nasdaq is drug stock Incyte Corporation (NASDAQ:INCY), which has given back 3% today trade at $148, pulling back from yesterday's record highs. The shares have more than doubled in value over the past year, and analysts are now suggesting the company could be a buyout target. 

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