A pair of oil tankers were reportedly attacked in the Gulf of Oman
The Dow Jones Industrial Average (DJI) is higher today on strength in energy shares Chevron (CVX) and Exxon Mobil (XOM). The two oil majors have added 1.2% apiece, as reports of tanker attacks off the coast of Iran spark concerns over a potential supply disruption -- and boost July-dated crude 3.3% to trade at $52.85 per barrel. Walt Disney (DIS) is also creating tailwinds for the Dow, with the stock gaining 2.3%, after Morgan Stanley raised its DIS price target and waxed optimistic on the potential for Disney+ subscriber growth.
Continue reading for more on today's market, including:
- Analysts are in overdrive as Lululemon stock sizzles.
- Behind this rare bear note for Boeing.
- Plus, Tyson traders set short-term ceiling; the small-cap stock near the top of the Nasdaq; and why one drugmaker is down 75% today.
Tyson Foods, Inc. (NYSE:TSN) is seeing unusual options activity today, with roughly 12,000 calls on the tape -- eight times the expected intraday amount, and 11 times the number of puts traded. Although TSN stock hit an 18-month high of $84.25 on news of the company's plant-based burger, last seen up 1.2% at $82.91, speculators appear to be selling to open June 84 calls to bet on a short-term ceiling for the shares.
Coda Octopus Group, Inc. (NASDAQ:CODA) is near the top of the Nasdaq today, after the underwater technologies specialist swung to a profit of 21 cents per share in the fiscal second quarter, while revenue nearly doubled to $6.78 million from this time last year. CODA stock is up 38.3% at $13.43, bouncing off familiar support at its 120-day moving average.
Savara Inc (NASDAQ:SVRA) is the worst stock on the Nasdaq today, sinking in reaction to devastating late-stage data on the company's key lung disease drug and a round of bearish brokerage notes. Most recently, SVRA stock was down 74.8% to trade at $2.66, fresh off this morning's record low of $2.55.