The Dow is eyeing a triple-digit win at the midday mark
The Dow Jones Industrial Average (DJI) is piggybacking on this week's impressive rally, grabbing even more record highs, with a triple-digit pop at the midway mark amid a report from China's National Health Commission that coronavirus cases have slowed to their lowest levels in weeks. The S&P 500 Index (SPX) also hit another fresh high midday, and the Nasdaq Composite Index (IXIC) isn't far behind, with the tech-rich index getting a boost from several surging semiconductor names. A slowdown in coronavirus cases, along with potential production cuts from the Organization of the Petroleum Exporting Countries (OPEC) are propping up oil prices as well, with crude for March delivery up 3.2% at $51.33 per barrel at last check.
Continue reading for more on today's market, including:
- Analysts react as Bed Bath & Beyond stock navigates even more rocky terrain.
- The underperforming REIT getting blasted by a bear note.
- Plus, bears blast MTCH stock; CPSI gets big boost after earnings; NSP slammed on dismal Q1, 2020 guidance.
Online dating concern Match Group Inc (NASDAQ:MTCH) is seeing a surge in bearish activity in the options pits today. So far, 5,025 puts have crossed the tape -- three times the intraday average. By far the most popular is the February 70 put, followed by the 65 put from the same series. At last check, MTCH is down 0.3% to trade at $74.39.
Computer Programs & Systems, Inc. (NASDAQ:CPSI) is one of the best performers on the Nasdaq today, following the healthcare technology provider's fourth-quarter earnings report of 78 cents per share, which exceeded analysts' estimates. The $70.64 million in revenue posted also beat expectations. The stock is up 19.6% to trade at $33.35, after touching a two-year high of $35.78 earlier today. Not only is the equity eyeing its biggest one-day percentage pop since 2015, it also toppled recent pressure at the $28 region.
HR specialist Insperity Inc (NYSE:NSP) is one of the worst stocks on the New York Stock Exchange following the company's fourth-quarter earnings report. While the firm's profits of 57 cents per share and its revenue of $1.08 billion both beat analysts' estimates, it lowered its full-year and first-quarter forecasts, causing the stock to drop 23.9% to trade at $67.81. The equity hit a two-year low of $67.99 earlier today, and breached recent support at its 60-day moving average for the first time this year.
