Dow Erases Gains on IBM Earnings, Healthcare Concerns

Concerns about potential policy changes are weighing on healthcare stocks

by Lillian Currens

Published on Apr 17, 2019 at 12:02 PM

The Dow Jones Industrial Average (DJI) has erased this morning's gains, due to disappointing earnings from blue chip IBM (IBM). The healthcare sector also continues to struggle, with UnitedHealth Group (UNH) lower again on concerns about potential policy changes out of Washington, D.C. Meanwhile, the S&P 500 Index (SPX) is lower with the Dow, though the Nasdaq Composite (IXIC) is clinging to modest gains, with a rally in chip stocks helping to offset post-earnings losses from Netflix (NFLX).

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

  • Analyst: These 2 pot stocks are on sale. 
  • 2 restaurant stocks Morgan Stanley is talking about today. 
  • Plus, bulls flock to NRG despite negative analyst attention; Uxin responds to "baseless allegations"; and THC stock falters on healthcare anxieties. 

Midday Market Stats Apr 17

NRG Energy Inc (NYSE:NRG)  is seeing unusual options volume today, with roughly 3,200 calls across the tape so far -- nearly six times the average intraday volume. The April 41.50 call is far and away the most popular, with the majority of contracts being bought to open ahead of tomorrow's expiration. Despite the amped-up call volume, NRG stock is down 2.8% at $40.87, on a price-target cut to $40 from $41 from Suntrust Robinson.

China e-commerce name Uxin Limited (NASDAQ:UXIN) is one of the top performers on the Nasdaq today, after saying that it "firmly denies [J Capital Research's] baseless allegations that it falsified any sales data." After losing 36% yesterday and hitting new all-time lows, the stock has erased its losses, up 47.7% at $2.88, at last check -- pacing for its best day ever. 

Tenet Healthcare Corporation (NYSE:THC) is one of the worst performers on the New York Stock Exchange this morning. The hospital operator is taking a beating on trader anxiety over the changing state of U.S. healthcare policy. THC is down 10.4% at $22.94. The security is pacing for its fifth straight loss, and is set to close below its 120-day moving average for the first time since a late-February bull gap helped it break north of the trendline. 

THC Chart Apr 17

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