Caterpillar, Oil Keep Dow Jones Industrial Average in the Red

This Drug Stock Doubled in 3 Months

May 4, 2017 at 11:54 AM
facebook twitter linkedin


The Dow Jones Industrial Average (DJIA) has explored a 76-point range on both sides of breakeven so far, but was last seen trading in negative territory amid pressure from Caterpillar Inc. (NYSE:CAT). A fresh round of corporate earnings reports and mixed economic data, which includes a slump in first-quarter productivity and a fourth straight rise in factory orders, are just a few things stocks are reacting to today. Traders are also keeping a close eye on spiraling oil prices -- with June-dated crude futures off 2.7% at $46.51 per barrel, a five-month low -- and a House vote on an Obamacare repeal, expected to start this afternoon.

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

  • The earnings shocker weighing on Facebook stock.
  • The drug stock that's doubled in three months.
  • Plus, Snap stock options hot; Fitbit's big day; and the spiraling REIT stock.

stock market today

Among the names with accelerated options activity is Snap Inc (NYSE:SNAP), with the contracts trading at two times the average intraday pace. Most of the action has occurred on the call side, with SNAP options traders buying to open weekly 5/26 27.50-strike calls. At last check, SNAP stock was up 5.4% at $22.99, on news the tech company has expanded its production deal with Scripps Networks Interactive, Inc. (NASDAQ:SNI).

One of the leading advancers on the New York Stock Exchange (NYSE) is Fitbit Inc (NYSE:FIT), after the wearable tech firm posted strong first-quarter revenue and offered an upbeat product launch outlook. While FIT stock has surged 13% to $6.42, though, it's running out of steam near its 120-day moving average, a trendline that has ushered the shares lower since October.

fit daily chart may 4

Spirit Realty Capital, Inc (NYSE:SRC) is one of the biggest decliners on the NYSE today, after the real estate investment trust's (REIT) earnings report was met with a round of bearish brokerage notes. At last check, SRC stock was down 21.4% to trade at $7.01, and earlier hit a record low of $6.64.

Grab your FREE Eternal Contrarian report!


 




 
Special Offers from Schaeffer's Trading Partners