Dow Jones Industrial Average Edges Higher; Nasdaq Notches Another Record

2 Healthcare Stocks That Could Skyrocket in May

Apr 26, 2017 at 12:03 PM
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The Dow Jones Industrial Average (DJIA) is modestly higher, while the Nasdaq Composite (COMP) broke out to yet another all-time peak earlier, north of the key 6,000 level. Bolstering the Dow are upbeat earnings from United Technologies Corporation (NYSE:UTX) and hopes that the Trump tax plan -- expected to be revealed today -- will lower the corporate tax rate to 15%. Following stocks higher are oil prices, after crude stockpiles fell more than expected last week -- with June-dated crude futures last seen up 0.4% at $49.77 per barrel.

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

  • 2 healthcare stocks that could skyrocket in May, if history is any indicator.
  • How options traders are playing GoPro Inc (NASDAQ:GPRO) ahead of earnings.
  • Plus, a big bullish bet on First Solar; Cree's post-earnings disaster; and the drug stock pacing the Nasdaq.

midday market stats april 26

Among the names with unusual call volume today is alternative energy stock First Solar, Inc. (NASDAQ:FSLR), with the contracts flowing at seven times the usual intraday rate. Much of the volume stems from a 5,000-contract block of May 29 calls, which Trade-Alert suggests was bought to open, and encompasses FSLR's earnings report next week. At last check, FSLR shares are up 4.6% at $28.81.

One of the worst performers on the Nasdaq is Cree, Inc. (NASDAQ:CREE), dropping 14% to trade at $21.35 -- not far from November's multi-year lows -- and landing on the short-sale restricted list. Triggering the sell-off in shares of the LED specialist were a poor earnings report and subsequent downgrade.

cree stock chart today

The top gainer on the Nasdaq is biotech Akebia Therapeutics Inc (NASDAQ:AKBA), which is sitting on a brow-raising 44.3% gain at $13.52 -- and fresh off an annual high of $13.64. The stock is soaring after the company entered into a licensing agreement with Otsuka, winning it applause on Wall Street.

 

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