Dow Extends Pullback as Boeing Slides Again

The S&P and Nasdaq are retreating from yesterday's record highs

by Patrick Martin

Published on Jul 25, 2019 at 12:08 PM
Updated on Jul 25, 2019 at 12:12 PM

The Dow Jones Industrial Average (DJI) is headed for back-to-back losses amid a post-earnings slide for Dow (DOW) stock. Boeing (BA) headwinds are also pressuring the blue-chip index, with the stock getting hit with a round of price-target cuts following yesterday's bruising earnings reaction. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also trading lower, retreating from record highs as Facebook (FB) and Tesla (TSLA) sell off after earnings. Elsewhere, though, oil prices are on the upswing, with September-dated crude futures up 1% at $56.40 per barrel. 

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

  • These two stocks are big earnings losers today. 
  • Under Armour stock just picked up a rare bull note.
  • Plus, call traders eye a quick FireEye bounce; defense stock breaks out after upbeat earnings; and Spirit stock sinks to lowest point of 2019.

Midday Market Stats July 25

Mattel Inc (NASDAQ:MAT) is seeing accelerated options trading today. More than 8,100 options have traded -- six times what's typically seen at this point in the day, and volume pacing in the 94th percentile of its annual range. Leading the charge is the weekly 8/2 12-strike put, where new positions are potentially being purchased. In this case, the call buyers expect the toy stock to pivot lower over the next week -- a time frame that includes tonight's earnings report -- with the shares last seen up 1.4% to trade at $12.67.

One of the better stocks on the S&P 500 today is Northrop Grumman Corporation (NYSE:NOC). The shares are up 3.1% to trade at $353.47, and earlier nabbed a new annual high of $358.96, after the several analyst notes came through following yesterday's earnings-induced bull gap. NOC has received four price-target hikes this morning, the highest coming from Vertical Research at $388. 

At the bottom of the New York Stock Exchange (NYSE) sits Spirit Airlines Incorporated (NYSE:SAVE), down 17% to trade at $45.69. The airline name was hit with price-target cuts to $55 and $60 from Stifel and Cowen, respectively, after last night's earnings report. SAVE is now trading at its lowest point of 2019.

MMC Daily Chart SAVE


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