Dreary Data, Tech Drive Stocks Lower

GE stock is set to snap its six-day winning streak

Jun 14, 2019 at 11:46 AM
facebook twitter linkedin


Stocks are trading modestly lower at midday, as traders digest a revenue warning from Apple supplier Broadcom (AVGO) -- which said full-year revenue will come in $2 billion below its previous estimate on U.S.-China trade headwinds -- and lower-than-expected readings on Chinese industrial output and retail sales for May. At last check, the Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) were all headed for daily losses, though each index is set for a second straight weekly win.

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

  • Downgraded Transocean stock is selling off again.
  • The Disney rival this analyst is buying.
  • Plus, GE options bears eye single digits; and 2 of the Nasdaq's biggest movers.

midday market stats june 14

General Electric Company (NYSE:GE) is seeing unusual options activity, as the industrial stock heads toward its first loss in seven days, down 0.9% at $10.22. Around 31,000 puts are on the tape, 1.7 times the expected intraday rate, with buy-to-open activity detected at the June 10 put. If this is the case, put buyers are betting on a move into single-digit territory by the close next Friday, June 21, when front-month options expire.

ge daily chart june 14

ArQule, Inc. (NASDAQ:ARQL) is at the top of the Nasdaq today, after the company reported positive data for an early stage study of its blood cancer drug. ARQL stock is up 40% at $8.79, fresh off a 12-year high of $9.10.

Seres Therapeutics Inc (NASDAQ:MCRB) is at the bottom of the Nasdaq, after the microbiome drugmaker priced its stock offering at $2.25 per share -- a 20% discount to Thursday's close at $2.83. In reaction, MCRB is 23.8% lower at $2.16, earlier hitting a record low of $2.02.

 

Minimize Risk While Maximizing Profits

There is no options strategy like this one, which consistently minimizes risk while maintaining maximum profits. Perfect for traders looking for ways to control risk, reduce losses, and increase the likelihood of success when trading calls and puts. The Schaeffer’s team has over 41 years of options trading success targeting +100% gains on every trade. Rest assured your losses are effectively limited to your initial cost at the time of making your move! Don't waste another second... join us right now before the next trade is released! 

 

300x250 - Banner 3 - v1