FAANG Stocks Lead Dow, Nasdaq Higher

Amazon and Apple stocks both scored upbeat analyst attention

Managing Editor
Sep 27, 2018 at 12:03 PM
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U.S. stocks are significantly higher in afternoon trading, as FAANG stocks drive notable gains. Specifically, Apple (AAPL) is leading the Dow Jones Industrial Average (DJI), and Amazon (AMZN) is helping lift the Nasdaq Composite (IXIC), after both stocks scored upbeat analyst attention. Speculators are also digesting the latest round of economic data, and watching the ongoing testimony of Supreme Court nominee Brett Kavanaugh and his accuser, Dr. Christine Blasey Ford. 

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

  • Analyst: Sell this fiber optics stock now.
  • The drug stock up 58% today. 
  • Plus, the lender seeing notable call activity; the energy stock higher on a tax ruling; and a bad day for Bed Bath & Beyond.

Midday Market Stats Sept 27

Lending name Ally Financial Inc (NYSE:ALLY) is sporting unusual options volume this afternoon. So far, 6,480 calls and 843 puts have crossed the threshold -- 13 times the average intraday pace. The December 27 call is ALLY's top trade, with one trader buying to open 5,000 contracts. Ally Financial stock has been trading mostly sideways for the past six months, and was trading flat at $26.75, at last check.
 
Cameco Corp (NYSE:CCJ) is at the top of the New York Stock Exchange (NYSE) this afternoon, after the Tax Court of Canada ruled in favor of the energy company in a dispute with the Canada Revenue Agency (CRA). CCJ has gapped 17.3% higher to $11.53, earlier peaking at $11.96 -- a chip shot from its mid-June highs. Cameco stock also jumped back above the 320-day moving average, a trendline that contained the shares following an early September pullback. The energy concern has added 25% year-to-date.
 
Daily Chart of CCJ since Sept with 320MA
 

Retailer Bed Bath & Beyond Inc. (NASDAQ:BBBY) plunged to an 18-year low of $14.16 earlier, and is one of the Nasdaq's worst performers today, after a same-store sales miss and cut full-year guidance. BBBY stock was last seen down 24.4% at $14.22, and has already seen a new 12-month high in daily put volume

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