Apple is slated to report earnings after the close
The Dow Jones Industrial Average (DJI) is down triple digits at midday, dragged lower by disappointing earnings from Pfizer (PFE) and Merck (MRK), while Boeing (BA) is dropping on plans to buy KLX Inc (KLXI). However, Apple (AAPL) stock is one of the few Dow stocks in the black, amid cautious optimism ahead of tonight's earnings release. Energy stocks are also lower, with June-dated oil futures down 1.2% at $67.75 per barrel. The blue-chip index is now pacing for a third straight loss.
Continue reading for more on today's market, including:
- Analyst: This stock could surge 29%.
- Soaring Karyopharm Therapeutics could squeeze shorts.
- Plus, one stock's pre-earnings options surge; Fidelity's earnings beat; and a beat-up biotech stock.

One stock seeing unusual options volume today is food and beverage concern Mondelēz International, Inc. (NASDAQ:MDLZ). The stock is seeing a surge in options trading ahead of the company's first-quarter earnings, which is slated for release after today's close. So far, roughly 11,000 calls and 15,000 puts have traded -- seven times what's typically seen at this point in the day. It looks like some traders may be buying to open the weekly 5/4 38-strike put. The stock was last seen down 1.4% at $38.94, fresh off a two-year low of $38.79.
One notable winner on the New York Stock Exchange (NYSE) is Fidelity National Information Services Inc. (NYSE:FIS), after the firm reported first-quarter earnings that surpassed estimates and raised its full-year outlook. FIS stock was last seeing trading up 5% at $99.25, after recently pulling back to test its 200-day moving average.

Pharma name Arcadia Biosciences Inc (NASDAQ:RKDA) is one of the Nasdaq's worst performers, though the catalyst remains unclear. The shares have shed 11% to trade at $11.07, and has all but erased its March rally that stemmed from upbeat data on its GoodWheat brand.