Stocks Mixed Ahead of Tariff Meeting; Nasdaq Eyes Fifth Straight Win

Stocks are also reacting to a big buyout in the pharmaceutical sector

by Karee Venema

Published on Mar 8, 2018 at 12:01 PM
Updated on Mar 8, 2018 at 12:06 PM

The Dow Jones Industrial Average (DJI) was up triple digits at its session peak, as traders digested a big pharma buyout and looked ahead to an afternoon trade announcement from the White House -- with some expecting President Donald Trump's tariff plans to exclude Canada and Mexico. However, the Dow has since turned lower, though the S&P 500 Index (SPX) is still clinging to positive territory. Meanwhile, the Nasdaq Composite (IXIC) is headed for a fifth straight win, on track to match its mid-February daily win streak.

Continue reading for more on today's market, including:

  • The drug stock down more than 60%.
  • 2 popping casino stocks.
  • Plus, Kroger options volume jumps after earnings; Tronc spirals; and the biotech that's nearly doubled.

midday market stats march 8

Among the list of stocks with unusual options volume today is Kroger Co (NYSE:KR), with more than 65,000 contracts traded -- 11 times what's typically seen, and volume pacing in the 99th annual percentile. Most active is the April 23 put, where it looks like new positions are being purchased. KR stock was last seen trading down 11.5% at $23.21, after the grocery chain offered up a lower-than-anticipated full-year profit forecast.

Tronc Inc (NASDAQ:TRNC) is one of the worst performers on the Nasdaq, after the media company reported a fourth-quarter profit miss. At last check, TRNC stock was down 23.4% at $15.18 -- breaching several key technical levels, including its 80-day, 120-day, and 200-day trendlines.

trnc stock daily chart march 8

Immuron Limited (NASDAQ:IMRN) is at the top of the Nasdaq, after the Australia-based biotech reported positive data for its fatty liver treatment. IMRN stock was last seen up 94.8% at $16.46, and earlier hit a record high of $16.70.


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