The Nasdaq is headed toward its worst week since March
U.S. stocks are suffering notable losses at midday, as bond yields continue to rise on the back of this morning's jobs data. The S&P 500 Index (SPX) is heading toward its first close below 2,900 since Sept. 17, while the Dow Jones Industrial Average (DJI) has erased its weekly gain. The Nasdaq Composite (IXIC) is down, as well, on track for its worst week since late March. The Cboe Volatility Index (VIX), meanwhile, is trading at its highest levels since August.
Continue reading for more on today's market, including:
Manulife Financial Corporation (NYSE:MFC) is sporting unusual options volume for the second day in a row, with 5,841 puts and 1,388 calls on the tape, nearly eight times the average intraday pace. Most active is the November 16 put, where new positions are being initiated. MFC is down 3.2% at $16.89, just off an annual low of $16.88 -- good news for Muddy Waters, which unveiled a
short position on the insurance stock yesterday.
Barnes & Noble, Inc. (NYSE:BKS) is near the top of the New York Stock Exchange (NYSE) today, after the company yesterday announced it has been
exploring buyout options -- which sent the bookseller to its best day since May 2013. This surge pushed BKS back above its early January bear gap and year-to-date breakeven level. Barnes & Noble stock is up 3.5% at $6.88, at last check.
Sitting near the bottom of the Nasdaq today is
Acorda Therapeutics Inc (NASDAQ:ACOR), after Stifel slashed its price target on the biotech to $19 from $25. The downtrending stock is down 6.9% at $17.38, closing in on its
mid-September low and bringing its year-to-date deficit to 18.9% year-to-date.