Dow Dips on Walgreens Earnings

Oil prices are touching 2019 highs

Digital Content Manager
Apr 2, 2019 at 11:57 AM
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Blue chip Walgreens Boots Alliance's (WBA) negative earnings reaction continues to drag down the Dow Jones Industrial Average (DJI), with the index down more than 100 points at midday. In addition, the latest durable goods data took some of the wind out of the bulls' sails. Elsewhere, the S&P 500 Index (SPX) is also lower due to an underperforming consumer staples sector, though energy stocks are up with oil prices. At last check, May-dated crude futures were 1.2% higher at $62.29 per barrel. 

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

  • Why this analyst is already bearish on Lyft stock. 
  • Seasonal tailwinds could boost this medical equipment stock.
  • Plus, EXPE bears emerge; the biotech at the top of the Nasdaq, and the medical stock eyeing its worst day ever. 

Midday Market Stats Apr 2

Expedia Group Inc (NASDAQ: EXPE) is sporting unusual options volume today, with roughly 7,500 puts across the tape so far -- about five times the average intraday volume. Much of activity is transpiring around the June 125 put, where it looks like traders are buying the puts to open. Meanwhile, EXPE shares are up slightly today, at $120.66 -- but recent upside momentum has stalled at their 20-day moving average.

Biotech stock Sangamo Therapeutics Inc (NASDAQ:SGMO) is at the top of the Nasdaq today, after releasing positive early-stage data on its gene therapy treatment for severe hemophilia A. SGMO is up 40.6% at $13.40, as a result. The stock is now pacing for its best day in nearly two years, and is trading well atop its 200-day moving average for the first time since August.

SGMO Chart Apr 2

Apyx Medical Inc (NASDAQ:APYX) is far and away the worst performer on the Nasdaq  today, after the medical equipment concern retracted its marketing application for Renuvion. At last check, the stock was down 43.8% at $3.90, pacing for its worst day ever.

 

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