Caterpillar stock has been one of the best-performing blue chips today
Stocks are soaring in afternoon trading, with the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) surging to fresh record highs as fears about the U.S.-China trade spat continue to ease. Also pushing the Dow north of its January record are outperforming blue chips, including trade-sensitive Caterpillar (CAT). Both indexes are pacing for a third straight day of gains, while the Nasdaq Composite (IXIC) recovers from yesterday's tech sell-off. Also making notable moves today are weed stocks, specifically the extremely volatile Tilray (TLRY).
Continue reading for more on today's market, including:
- Why Under Armour stock is soaring.
- Analyst: This fintech stock is headed for record highs.
- Plus, Red Hat's surprise profit miss; the tech stock that's doubled this week; and which vehicle maker just fell onto the short-sale restricted list.
Software name Red Hat Inc (NYSE:RHT) is sporting unusual options volume today, and was last seen down 5.3% at $135.56, after the company reported a second-quarter profit miss and lackluster current-quarter guidance. So far, 20,000 puts and 10,000 calls have traded, over seven times the average intraday pace, with put volume pacing for an annual high. Currently, the now in-the-money March 140-strike put is the top trade, with over 10,000 contracts on the tape. RHT stock has received a handful of bearish analyst notes since the report, and has now shed nearly 19% over the past three months.
Computer electronics stock Cool Holdings Inc (NASDAQ:AWSM) is near the top of the Nasdaq today, just days after the company announced plans to continue expanding its Apple Boutique stores. AWSM gapped higher to start the week, and has more than doubled in the past five sessions. At last check, the stock was up 45% at $9.95 -- more than triple its June 4 low of $2.70.
The worst performer on the New York Stock Exchange (NYSE) today is Thor Industries, Inc. (NYSE:THO), after the company reported a fiscal fourth-quarter profit miss. Today's setback has pushed the shares 12.2% lower to $92.79, and back below the 80-day moving average, which acted as resistance earlier this year. THO has shed 39% year-to-date, and today is sitting on the short-sale restricted list.
