Dow Jones Industrial Average Breaks Out After 3-Day Losing Streak

2 Drug Stocks Getting Drilled

Apr 17, 2017 at 11:58 AM
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The Dow Jones Industrial Average (DJIA) is flirting with a triple-digit lead at midday, with all 30 components in the black, though traders are keeping one eye trained on geopolitical developments in North Korea and beyond. This has the Dow on track to snap a three-session losing streak, after marking its lowest close since mid-February on Thursday. Stocks are picking up steam in spite of some lackluster economic data, including a sharper-than-expected drop in the Empire State manufacturing survey, and a retreat in homebuilder sentiment after last month's 11-year high.

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

  • A "surprise" FDA decision is drilling these 2 drug stocks.
  • The M&A target racing to multi-year highs.
  • Plus, Starbucks calls heat up; one booming mining stock; and DISH Network shares sink.

midday market stats april 17

Among the names with unusual call volume today is Starbucks Corporation (NASDAQ:SBUX), as the contracts more than double the expected intraday amount. Digging deeper, the April 58 and 58.50 calls, as well as the weekly 4/28 60-strike call, are seeing likely buy-to-open activity, and all three encompass Starbucks' earnings report next Thursday, April 27. At last check, the stock is up 0.8% at $57.99, after the company said it will provide 100 million healthy coffee trees to farmers by 2025.

One of the biggest gainers on the New York Stock Exchange is aluminum manufacturer Arconic Inc (NYSE:ARNC), up 6% to trade at $27.46. Bolstering the shares is CEO Klaus Kleinfeld's resignation, amid pressure from activist hedge fund Elliott Management.

arconic stock chart today

One of the worst percentage losers on the S&P 500 Index (SPX) is DISH Network Corp (NASDAQ:DISH), which has shed 3.1% at $60.47. This follows Standard & Poor's decision Friday to lower DISH's corporate outlook to "negative" from "stable," with a B+ rating.

 

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