Apple, Exxon Mobil Have Dow Outperforming

Apple and Exxon Mobil both received price-target hikes earlier

Managing Editor
Sep 11, 2018 at 12:08 PM
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Stocks have turned higher at midday, with the Dow Jones Industrial Average (DJI) outperforming on strong days for Apple (AAPL) and Exxon Mobil (XOM) -- which are both trading higher on the back of bull notes. Meanwhile, the S&P 500 Index (SPX) has moved above breakeven, even as trade tensions continue to linger, while booming tech stocks have lifted the Nasdaq Composite (IXIC) into positive territory.

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

Midday Market Stats Sept 11

Electronics concern Sonos Inc (NASDAQ:SONO) is seeing unusual options volume today amid its post-earnings plunge. Approximately 6,000 calls and 7,000 puts have crossed the tape so far -- more than eight times the average intraday pace. In addition to possible liquidations at the September 17.50 put -- the most active option -- speculators may potentially be purchasing new positions at the September 17.50 call. SONO has added 11% since its early August public trading debut, but was last seen down 17.8% at $17.46.

One of the top stocks on the New York Stock Exchange (NYSE) today is Investors Real Estate Trust (NYSE:IRET) after the REIT reported first-quarter earnings that surpassed expectations. IRET is up 6.1% to $5.81, breaking above recent congestion in the $5.50 region. The stock has been trading sideways of late, but has managed to gain 26% since its late-February lows.

USA Technologies, Inc. (NASDAQ:USAT) is near the bottom of the Nasdaq today after the electronic payment processor announced plans to delay its 2018 10-K filing due to an internal audit. The stock has gapped 32.6% lower to trade at $10.31, pacing toward its lowest close since May 7, and its first close below the 200-day moving average in 15 months. USAT is clinging to a 4% year-to-date gain.

Daily Chart of USAT with 200MA Since May 2017

 

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