Newly downgraded Facebook is keeping Nasdaq gains in check
The Dow Jones Industrial Average (DJI) is once again feeling pressure from Boeing (BA), which is down on reports of a Department of Transportation probe into the company's grounded 737 MAX 8 planes. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are floating just above breakeven, paring earlier gains as Facebook (FB) dips on a downgrade. Investors continue to look ahead to this week's two-day Fed meeting, with the central bank expected to echo its vow to be "patient" with rate hikes.
Continue reading for more on today's market, including:
- 2 drug stocks trying to double today.
- Why this downgraded Apple supplier is swimming in red ink.
- Plus, the beauty stock seeing unusual volume; and 2 stocks trading at either end of the NYSE.
Beauty name Coty Inc (NYSE:COTY) is sporting unusual options volume today, after the company's board recommended JAB Holding Company's plan to boost its stake. So far, 113,000 calls and 110,000 puts have crossed the tape -- 10 times the expected pace. The May 15 call and put are most active, with more than 65,000 contracts already traded at each strike. COTY is up 2.8% at $11.75.
Despite issuing weak guidance late last week, retailer Tilly's Inc (NYSE:TLYS) is one of the top stocks on the New York Stock Exchange (NYSE) today, last seen 6.5% higher at $12.16. TLYS' recent pullbacks have been contained by the 50-day moving average and the $11.50 area -- where the equity landed after a bull gap in early February.
One of the worst performers on the NYSE today is Lumber Liquidators Holdings Inc (NYSE:LL), after the company announced the resignation of its CFO, and reported weaker-than-expected fourth-quarter revenue. LL is down 11.8% at $9.01, at last check, fresh off a decade low of $8.81.