Apple and Boeing are continuing to prop up the Dow midday, as the former snaps up a brand-new high
The Dow Jones Industrial Average (DJI) is holding steady on its morning gains, with a more than 100-point pop at the midway mark, as blue chips Apple (AAPL) and Boeing (BA) continue to prop up the index, with the iPhone manufacturer hitting an all-time high. Meanwhile, the S&P 500 Index (SPX) and the Nasdaq Composite (IXIC) are waffling near breakeven, with the former paring back gains after several semiconductor stocks, including Advanced Micro Devices (AMD), are making a sharp move lower.
Continue reading for more on today's market, including:
- The FAANG stock getting blasted with bull notes ahead of earnings.
- Why the rumors surrounding L Brands are giving the stock a big boost.
- Plus, bulls bombard surging FEYE stock; LEE stock nearly doubles after buying Warren Buffett's news business; MMLP stock suffers post-earnings plummet.
Cybersecurity specialist FireEye Inc (NASDAQ:FEYE) is on course to snap an almost seven-day skid today, and options bulls are being whipped into a frenzy. So far, 21,000 calls have crossed the tape -- six times the intraday average. The weekly 2/7 16-strike call is getting quite a bit of attention, with potential buy-to-open action occurring here. Buy-to-open activity also looks to be taking place at the weekly 1/31 16-strike call, which expires this Friday. At last check, FEYE is up 3.5% to trade at $16.08.
News publisher Lee Enterprises, Incorporated (NYSE:LEE) is a top performer on the New York Stock Exchange today, nearly doubling after agreeing to buy Berkshire Hathaway's publication units in a $140 million all-cash deal. Lee Enterprises has managed both the Buffalo News and BH Media Group since July 2018. Berkshire Hathaway owner Warren Buffett said the firm is well positioned to manage the two publications, despite industry challenges, while Lee predicted an 87% pop in revenue because of the deal. At last glance, LEE is up 84.8% to trade at $2.31, and seems to have found its footing atop the 200-day moving average -- a trendline the equity hasn't toppled since late May.
Oil concern Martin Midstream Partners L.P. (NASDAQ:MMLP) is one of the worst performers on the Nasdaq today, shedding 28.3% to trade at $2.59 after posting a mixed fourth-quarter report. While the company's earnings and revenue exceeded analysts' estimates, the latter declined by 9.5%. It also reset its annual distribution to 25 cents from $1 per unit. The security is now pacing for its lowest close -- and its biggest one-day percentage drop -- on record.