Retail Earnings Drag Stocks Into the Red

Kohl's is at the bottom of the NYSE after earnings

Nov 19, 2019 at 11:56 AM
facebook X logo linkedin


Stocks hit new record highs out of the gate as traders cheered news of Boeing's (BA) Dubai Air Show 737 Max jet orders and upbeat housing data. However, the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) have since swung into the red on a negative earnings reaction for several retailers -- including Home Depot (HD) -- ahead of the key holiday shopping season, putting the latter at risk of snapping its five-day winning streak.

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

  • Why Guggenheim is selling this media stock.
  • What this ETF can tell us about the IPO market, courtesy of founder and CEO Bernie Schaeffer.
  • Plus, Philip Morris bears brace for bigger losses; cancer stock more than doubles on drug data; and Kohl's sinks after earnings.

midday market stats nov 19

One name seeing unusual options volume today is Philip Morris International Inc. (NYSE:PM), with nearly 5,000 puts on the tape -- three times what's typically seen at this point. The December 82.50 put is most active, and it looks like new positions are being purchased here for a volume-weighted average price of $1.35, which would make breakeven for the put buyers $81.15 (strike less premium paid). PM stock was last seen down 1.1% at $83.90.

Myovant Sciences Ltd (NYSE:MYOV) is at the top of the New York Stock Exchange (NYSE) today, after the biotech said its advanced prostate cancer drug met its goals in a late-stage study. MYOV stock is up 144.9% at $14.84, set to close above its 200-day moving average for the first time since April.

myov stock daily price chart on nov 19

Kohl's Corporation (NYSE:KSS) is at the bottom of the Big Board, last seen down 18% at $47.90 -- good news for options bears. The department store chain reported adjusted third-quarter earnings and same-store sales that came in below the consensus estimates, and slashed its full-year adjusted profit forecast.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI