The two world leaders will meet in Argentina this weekend to discuss trade
The stock market is quiet ahead of this weekend's highly anticipated meeting between U.S. President Donald Trump and China's President Xi Jinping at the G-20 summit. The two leaders are expected to discuss tariffs, and the talks come on the heels of a freshly inked trade agreement between the U.S., Mexico, and Canada.
At last check, the Dow Jones Industrial Average (DJI) is trading modestly lower as Goldman Sachs (GS) stock sinks. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are holding slim gains, with shares of Marriott International (MAR) in focus on reports of a massive data breach.
Continue reading for more on today's market, including:
- Benchmark thinks this retailer has "zero terminal value."
- Why Under Armour stock could be a prime target for contrarians.
- Plus, options bulls blast booming TJX; Ambarella eyes its best day ever; and the Chinese stock at the bottom of the Nasdaq.
TJX Companies Inc (NYSE:TJX) is seeing unusual options activity today, with roughly 13,200 calls on the tape -- seven times what's typically seen, and 15 times the number of puts traded. Almost all of the action has centered at the January 2019 50-strike call, where it looks like one trader bought to open a large block for an initial cash outlay of $613,647 (4,989 options * $1.23 premium paid * 100 shares per contract). Bullish buzz has been building on the retail stock, which is pacing for a 5.5% weekly gain -- up 1.9% today to trade at $48.41.
Ambarella Inc (NASDAQ:AMBA) is near the top of the Nasdaq, after the high-definition video chipmaker reported better-than-expected third-quarter earnings and revenue. Craig-Hallum chimed in with a price-target hike to $42 from $40. At last check, AMBA stock is up 18% to trade at $39.83 -- headed for its best day on record, and its first close north of its 120-day moving average since May 16.
China Ceramics Co Ltd (NASDAQ:CCCL) is the worst stock on the Nasdaq today, after the Fujian-based tile maker priced its public offering at $1.27 per share -- a discount to last night's close at $1.70. CCCL stock is down 25.9% to trade at $1.26.