Coca-Cola is sharply lower after an earnings miss
The Dow Jones Industrial Average (DJI) is down over 150 points today, under pressure from ugly retail sales numbers and a dismal post-earnings reaction from Coca-Cola (KO). In addition, Amazon (AMZN) shares are lower on reports the company is abandoning plans for a second headquarters in New York. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are in the red as well, with both indexes on track to snap their four-day winning streaks. Elsewhere, weekly jobless claims unexpectedly rose and the 10-year Treasury yield pulled back.
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There's notable options activity surrounding toymaker Mattel, Inc. (NASDAQ:MAT). Over 8,600 put options have changed hands, six times the average intraday volume and pacing for the 99th percentile of its annual range. Most of that action is centered at the February 16.50 and 17 puts, where it appears options traders have their sights set on a drop by options expiration tomorrow. At last check, MAT was down 0.4% to trade at $17.00, running out of steam following a profit beat earlier this week.
Trying to keep the Dow afloat is Cisco Systems, Inc. (NASDAQ:CSCO), up 3% to trade at $48.99 and the top Dow stock today, after the company's fiscal second-quarter earnings and revenue exceeded analyst expectations. The company also lifted its quarterly dividend and boosted its share-buyback program. CSCO earlier tapped a new 18-year high of $49.68, and has now gained 13% in 2019.
Near the top of the S&P 500 sits Micron Technology, Inc. (NASDAQ:MU), up 1.6% to trade at $42.49, enjoying another bout of semiconductor sector tailwinds. MU has now added 35% already in 2019, and today is testing its 160-day moving average for the first time since an early September bear gap.
