The Dow is on track for seventh straight weekly gain
The Dow Jones Industrial Average (DJIA), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) are trading higher this afternoon, buzzing from upbeat gross domestic product (GDP) data and slew of big-name tech earnings, including reports from Microsoft (MSFT), Intel (INTC), Amazon (AMZN), and Alphabet (GOOGL). The tech-rich Nasdaq is up triple digits and exploring fresh record highs, on pace for its best session of 2017. Meanwhile, the SPX is also touching all-time highs, while the Dow is pacing for a seventh straight weekly win -- its longest win streak of the year.
Continue reading for more on today's market, including:
- Buy the dip on this blue-chip stock, if past is prologue.
- The spiraling Chinese internet stock.
- Plus, First Solar's unusual call volume; Gain Capital earnings; and the worst stock on the Nasdaq.
Among the stocks with unusual options volume is solar energy provider First Solar, Inc. (NASDAQ:FSLR), with 27,000 call options traded -- 12 times the average intraday norm, and on pace for the highest percentile of its annual range. The November 60 and 55 calls are among the most popular, with over 5,000 contracts combined traded. At last check, FSLR stock was up 22% at $58.33 -- and just off a fresh annual high of $58.89 -- after the company issued a third-quarter earnings beat and upped full-year guidance.
The biggest gainer on the New York Stock Exchange (NYSE) is trading services provider Gain Capital Holdings Inc (NYSE:GCAP). The shares of GCAP are soaring after the company reported a third-quarter sales beat. The stock was last seen up 16% at $7.16.
The worst stock on the Nasdaq today is digital printing concern Electronics For Imaging, Inc. (NASDAQ:EFII), with the shares gapping 30% lower to trade at $29.73, after the company reported disappointing third-quarter earnings. EFII stock is now trading back below the $36-$38 area, which contained pullbacks in 2015 and 2016, but was breached in August after the company postponed its second-quarter 10-Q filing and announced an accounting investigation.
