Dow Hits New High as Boeing Jumps

Shake Shack is taking a big hit after earnings

by Karee Venema

Published on Nov 5, 2019 at 11:56 AM

The Dow Jones Industrial Average (DJI) hit a new record high earlier, as trade-sensitive stock Boeing (BA) climbs on positive headlines surrounding U.S-China tariff negotiations and news CEO Dennis Muilenburg said he would decline bonuses for this year. The Nasdaq Composite (IXIC) is fresh off an all-time peak, too, with both indexes eyeing a third straight win. Meanwhile, the S&P 500 Index (SPX) was last seen modestly lower, retreating from Monday's new milestone.

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

midday market stats nov 5

One name seeing notable options trading today is Shake Shack Inc (NYSE:SHAK), as the shares stage a dramatic post-earnings sell-off. At last check, roughly 24,000 SHAK options have traded, 16 times what's typically seen, and volume pacing in the 100th annual percentile. With Shake Shack stock down 30% at $67.36, it looks like some speculators are liquidating their weekly 11/8 70-strike puts, while others are initiating new positions at the weekly 11/8 75-strike call.

Regeneron Pharmaceuticals Inc (NASDAQ:REGN) is one of the best stocks on the S&P 500 Index (SPX) today, up 8.9% at $338.81. The biotech announced a third-quarter profit beat, thanks to bigger demand for its eye drug, Eylea, and eczema treatment, Dupixent. REGN stock has now pared its year-to-date deficit to 10.4%, and is poised to close above its 180-day moving average for the first time since mid-April.

regn stock daily price chart on nov 5

Newmont Goldcorp Corp (NYSE:NEM) is trading near the bottom of the S&P today, down 4.8% at $36.98. This is in reaction to the mining firm's lower-than-anticipated adjusted third-quarter earnings and revenue, as well as its downwardly revised annual output target. NEM stock has been retreating from its late-August three-year high of $29.77, and is now trading below its 120-day moving average for the first time since May.


A Schaeffer's exclusive

11 Stocks to Buy Before Leap Day

Access your FREE insider report before it's too late!


 
 

Partnercenter


NEW! Explore Schaeffer’s Partners' deals and get connected to top online brokerages with deals tailored exclusively for our readers.  Get answers to your questions regarding transfer fees, commission rates, programs and available discounts related to online trading services.

MORE | MARKETstories


Legendary Stock-Picker Calls Top Stock of 2020
Matt McCall's picks were met with disbelief... Until five soared over 1,000%. Get his latest 2020 pick.
bluebird bio Sinks on Earnings, Application Setback
BLUE has shed 40% over the past 12 months
2 Stocks Down on M&A Buzz
Options traders preferred puts on LC
Legendary Stock-Picker Calls Top Stock of 2020
Matt McCall's picks were met with disbelief... Until five soared over 1,000%. Get his latest 2020 pick.