Stocks Hold Near Highs Ahead of Thanksgiving

UAA stock is red-hot after an upgrade

Nov 27, 2019 at 11:58 AM
facebook twitter linkedin

Stocks are little changed at midday, as traders look ahead to tomorrow's Thanksgiving Day holiday. While the price action is muted, there's plenty of economic data to digest, including a stronger-than-anticipated reading on third-quarter gross domestic product (GPD) and an eighth straight monthly rise in consumer spending in October. At last check, the Dow Jones Industrial Average (DJI), S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are all holding near yesterday's record highs.

  • A third-quarter beat is putting the squeeze on VMware shorts.
  • Deere breaches key trendline in trade-related tumble.
  • Plus, Guess sees surge in post-earnings options volume; UAA pops; and one retailer moving lower.

midday stats nov 27

Guess?, Inc. (NYSE:GES) is seeing unusual options volume amid the retail stock's volatile post-earnings session. Roughly 22,500 options have changed hands -- 31 times what's typically seen, and volume pacing in the 100th annual percentile. GES stock was down 6.9% earlier on weak third-quarter revenue and full-year revenue guidance, but was last seen up 4.3% at $19.90, possibly in reaction to the retailer's quarterly profit beat.

Under Armour Inc (NYSE:UAA) is at the top of the S&P, after Raymond James upgraded the athletic apparel retail stock to "strong buy" from "outperform." UAA stock is up 4.8% at $18.85, but is running out of steam at its descending 80-day moving average, and has a ways to go before filling an early November bear gap.

UAA stock nov 27

PVH Corp (NYSE:PVH) is near the bottom of the SPX, down 2.2% at $97.82 -- back below the key century mark. The retail stock was hit with an onslaught of analyst attention following Monday night's earnings report, including a price-target cut to $110 from $120 at Evercore ISI.


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! 



Special Offers from Schaeffer's Trading Partners