Big-cap stocks are outperforming today
U.S. stocks are trading modestly higher at midday, with the Dow Jones Industrial Average (DJI) outperforming on strong sessions for McDonald's (MDC) and Walt Disney (DIS). Traders are also digesting a mixed batch of economic data, with home prices rising at their slowest pace since last summer in July, while consumer confidence hit an 18-year high in September. The S&P 500 Index (SPX) has edged into positive territory, too, as energy shares get a lift from rising oil prices, with November-dated crude futures up 0.1% at $72.14 per barrel.
Continue reading for more on today's market, including:
Take-Two Interactive Software, Inc. (NASDAQ:TTWO) is sporting unusual options volume today, with 11,000 puts -- compared to 1,100 calls -- on the tape so far, five times the average intraday pace. TTWO is up 0.5% at $135.52, at last check, continuing to bounce from the supportive 30-day moving average. The video game stock recently touched a record high of $138.65 on Aug. 30, and has picked up 23% year-to-date.
Investors Real Estate Trust (NYSE:IRET) is making strides this afternoon, after Baird upgraded the REIT to "outperform" from "neutral." The bull note has sent the shares 4.7% higher to $5.84, though the rally is being contained by the Sept. 11 post-earnings multi-month peak at $5.85. The stock has recently benefited from support at its 120-day moving average, and over the past six months has gained 14%.
One of today's worst performers on the Nasdaq is TG Therapeutics Inc (NASDAQ:TGTX), after the company dropped plans to seek fast-track approval for its leukemia drug. TGTX has gapped 35.4% lower to $5.98 -- earlier hitting a new annual low of $5.80, and quickly landing on the short-sale restricted list -- and extending its year-over-year deficit to 50%.