The Nasdaq is getting a boost from big tech stocks
The Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) are hovering right below the line of breakeven today, as Walt Disney's (DIS) lackluster earnings and a disappointing jobs report weigh. The tech-heavy Nasdaq Composite (IXIC), however, is seeing higher gains thanks to FAANG stocks -- though any gains across the board have been encroached on by the drop in oil prices, with June-dated crude futures down 7%, at $22.81 per barrel, at last check.
Continue reading for more on today's market, including:
- Pizza name down despite an all-star month.
- Analysts pile on this plant-based stock.
- Plus, ATVI sees an options surge; MacroGenics stock soars earnings; and the food processing company taking a dive.

One stock seeing unusual options activity today is Activision Blizzard Inc (NASDAQ:ATVI), up 5.8% at $72.50 at last check, and earlier touched a fresh annual peak of $74.79. This gaming and entertainment company has seen 74,000 calls and 25,000 puts cross the tape so far, seven times the usual daily volume. Most popular is the weekly 5/8 70-strike call, followed by the May 55 put. This rise comes after the company posted a first-quarter earnings and revenue beat, receiving no fewer than 10 price target raises in response. Year-to-date, ATVI has tacked on 21%.
Topping the Nasdaq today is MacroGenics Inc (NASDAQ:MGNX), up 125% at $17.15 at last check, after the company shared a better-than-expected first-quarter report. Analysts are chiming in with mixed sentiment as Credit Suisse and SVB Leerink have lowered their price targets to $13 and $15, respectively, while H.C. Wainwright & Co and Stifel raised theirs to $22 and $21, respectively. So far in 2020, MGNX has surged an impressive 48%.
Towards the bottom of the New York Stock Exchange (NYSE) today is Bunge Ltd (NYSE:BG), down 10.9% to trade at $33.80 at last check. This drop comes after the food processing company reported an earnings and revenue miss, amid coronavirus headwinds impacting edibles demand. Following multiple failed run-ins with the $42 level, he equity has now gapped below the $36 mark for the first time since mid March.
