Oil, Boeing Boost Dow Jones Industrial Average

2 Stocks That Could Rally This Week

May 22, 2017 at 11:57 AM
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The Dow Jones Industrial Average (DJIA) is on track for a third straight gain, as defense stocks rally on news that President Donald Trump signed a massive arms deal with several countries in the Middle East. At last check, Boeing -- which inked its own deal with Saudi Arabia -- was the best Dow stock on the board. Rising oil prices are also helping to boost investor sentiment, with June-dated crude futures trading up 1.1% at $50.89 per barrel ahead of this Thursday's meeting among Organization of the Petroleum Exporting Countries (OPEC) and other major oil producers.

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

  • 2 stocks that could rally after earnings this week.
  • A major C-suite shake-up has Ford stock popping.
  • Plus, BBRY options traders see higher highs; the drug stock up 55%; and Zoe's gets slapped ahead of earnings.

midday market stats 2 may 23

Among the equities with unusual options activity is BlackBerry Ltd (NASDAQ:BBRY), with nearly 25,000 contracts traded -- almost three times the expected intraday rate. Roughly 80% of the action has occurred on the call side, with buy-to-open activity detected at the weekly 5/26 11-strike call, BBRY stock's most active option. Shares of the smartphone maker were last seen up 3.1% at $10.70, after earlier hitting a two-year peak of $10.81. Since mid-April, BlackBerry stock has jumped 40%.

Puma Biotechnology Inc (NASDAQ:PBYI) is the biggest percentage gainer on the Nasdaq, after the Food and Drug Administration (FDA) said its breast cancer treatment was effective ahead of Wednesday's advisory panel. After being halted earlier, PBYI stock was most recently seen trading up 55.4% at $58.75 -- at levels not seen since last October.

pbyi stock daily price chart may 23

Zoe's Kitchen Inc (NYSE:ZOES) is one of the leading decliners on the New York Stock Exchange, after the restaurant name was downgraded ahead of Thursday's earnings report. ZOES stock has shed 9% to trade at $16.55, and earlier came within two pennies of its March 14 record low at $16.39.


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