S&P, Nasdaq Hit More Fresh Highs as Tech Recovers

Oil is also in recovery mode today

by Lillian Currens

Published on Feb 19, 2020 at 12:03 PM
Updated on Jun 24, 2020 at 10:16 AM

The S&P 500 Index (SPX) and Nasdaq Composite Index (IXIC) both hit record highs by midday, propped up mostly by a recovering tech sector. Specifically, Apple (AAPL) made a rebound after yesterday's steep sell-off, while Tesla (TSLA) climbed even higher on a price-target hike from Piper Sandler. Meanwhile, Apple's rebound is boosting the Dow Jones Industrial Average (DJI) at the midway point as well. Oil is also on its way up, too, as cases of the deadly coronavirus begin to slow. At last check, March-delivered crude is up 1.1% at $52.61 per barrel. 

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

  • 2 stocks getting the boot on M&A buzz. 
  • Why traders shouldn't give up on ROKU stock just yet. 
  • Plus, calls pop on SunPower stock; MYO surges on HOMELINK agreement; and Blue Apron stock annihilated after earnings. 

midday stats feb 19

SunPower Corporation (NASDAQ:SPWR) is seeing a lot of activity in the options pits today, with 11,000 calls and 3,103 puts across the tape so far -- three times what's typically seen at this point. The February 9 call is the most popular, followed by the 9.50 put in the same series, with positions being opened at the latter. At last check, SPWR is up 8.1% to trade at $9.96 amid a sector-wide rally.

Myomo Inc (NASDAQ:MYO) is one of the best stocks on the Nasdaq today, after inking a Nationwide Payer Network Agreement with HOMELINK, which will allow the company to process out-of-network claims with the 1,200 payers in HOMELINK's network, potentially streamlining the reimbursement process. At last check, MYO is up 49% to trade at $8.13, just weeks after the equity's short-lived surge towards the $40 region, following a reverse stock split announcement in late January. 

Meal delivery kit concern Blue Apron Holdings Inc (NYSE:APRN) is one of the worst stocks on the New York Stock Exchange today after the release of its fourth-quarter report. The company posted a loss of $1.66 per share and a 33% drop in revenue to $94.3 million, missing analysts' estimates. On top of this, the firm said it would be closing its Arlington facility, which will impact 240 jobs, and forecast up to $26 million in losses for its first quarter. APRN is down 22.4% at $3.39 at last check, pacing for its lowest close ever, once again set to close south of its 20-day moving average after briefly conquering the trendline during yesterday's trading. 

APRN Chart Feb 19


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