Dow Jones Industrial Average Lower; Nasdaq Extends Streak of Highs

Analyst: 'As Good As It Gets' For This FANG Stock

Apr 28, 2017 at 12:03 PM
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The Dow Jones Industrial Average (DJIA) is in the red at midday, after this morning's lackluster gross domestic product (GDP) reading. Stocks are also reacting to a raft of corporate earnings, an unexpected rise in the Chicago purchasing managers index (PMI), and a slight uptick in consumer sentiment. Plus, traders are keeping an eye trained on Capitol Hill, where the House just passed a bill to fund the government for another week, easing the threat of a shutdown. Meanwhile, Secretary of State Rex Tillerson is urging the United Nations to "act before North Korea does" and implement new sanctions. That said, even with today's losses, the Dow is on track for a healthy weekly and monthly gain, and the Nasdaq Composite (COMP) earlier notched a fifth straight record intraday high.

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

  • Analyst: This is "as good as it gets" for this FANG stock.
  • Why Wedbush is "unwilling to recommend" GoPro stock.
  • Plus, call buyers circle Wyndham; Alphabet hits new high; and the financial stock sliding on earnings.

midday market stats april 28

Among the names with unusual call volume today is hotel giant Wyndham Worldwide Corporation (NYSE:WYN), as the contracts are flying at 38 times the usual intraday clip. The most active strikes are the November 100 and August 95 calls, with Trade-Alert confirming fresh positions are being purchased. At last check, WYN stock is off 0.4% at $95.52, but as recently as Wednesday, it was flirting with all-time highs in triple-digit territory, thanks to upbeat earnings.

One of the top performers on the Nasdaq is Google parent Alphabet Inc (NASDAQ:GOOGL), up 4.9% at $935.37 and fresh off a record high of $935.90. The tech stock is surging on upbeat earnings and positive analyst attention.

alphabet stock chart today

One of the New York Stock Exchange's big laggards is financial stock Greenhill & Co., Inc. (NYSE:GHL), with an earnings miss prompting bearish brokerage notes. At last check, the shares were down 8.6% at $25.78 and on the short-sale restricted list.

 

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