Dow Down on 3M Woes; Facebook Boosts Nasdaq

Meanwhile, MSFT and DIS stocks are soaring today

Digital Content Manager
Apr 25, 2019 at 11:56 AM
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The Dow Jones Industrial Average (DJI) is still reeling from 3M's (MMM) major earnings miss. The index has lost almost 175 points at midday, despite new record highs from both Microsoft (MSFT) and Disney (DIS). The Nasdaq Composite (IXIC) continues to flourish, however, on an earnings beat from Facebook (FB), and once again touched a new all-time peak.  

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

  • The CBD stock skyrocketing after a global launch.  
  • Analysts are waxing optimistic on these 2 fintech stocks
  • Plus, California Resources lands on the SSR list; Socket Mobile surges on quarterly revenue; and the freight stock eyeing its worst day ever. 

Midday Market Stats Apr 25

California Resources Corp (NYSE:CRC) is seeing unusual options volume today, with nearly 6,300 puts across the tape so far -- seven times the average intraday volume. Most active is the May 28 put -- which encompasses CRC's May 2 earnings -- with contracts being bought to open. At last check, CRC shares are down 12.4% at $23.03, and just landed on the short-sale restricted list, though the catalyst is unclear. 

Barcode concern Socket Mobile, Inc. (NASDAQ:SCKT) is a top performer on the Nasdaq today, after announcing a 16% growth in first-quarter revenue. SCKT is up 16.3% at $2.35 as a result, looking at its best day since early January. Plus , the stock is on track to end atop its 200-day moving average for the first time in over a year. 

SCKT Chart Apr 25 new

Marine freight name Martin Midstream Partners L.P. (NASDAQ:MMLP) is one of the worst performers on the Nasdaq today, down 23.1% at $7.56, after announcing weak first-quarter earnings. The company cut its quarterly cash distribution as well, blaming the disappointing results on the negative effects of "extreme weather patterns." MMLP has already touched a new record low of $7.35, and is pacing for its worst day ever. 

 

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