Schaeffer's Top Stock Picks for '25

Dow, S&P Struggle as Oil Drops

June-dated crude futures are dropping midday

Deputy Editor
May 6, 2020 at 12:16 PM
facebook X logo linkedin


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.

MMC chart 5.6.20

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.

BG Chart 5.6.20

 
 

You have the chance to join one of Bernie's most exclusive programs, complete access at HUGE savings!

As we prepare for a new administration to take the reins in Washington, the near-term market landscape is rife with uncertainty.

The Federal Reserve has already hinted at the turbulence ahead, lowering its interest rate outlook for 2025.

Meanwhile, breakthroughs in artificial intelligence (AI), quantum computing, and other transformative sectors have unlocked incredible profit potential.

But these opportunities are fleeting, and timing is everything. That's where Quick-Hit Trader comes in.

Quick-Hit Trader is designed for precision and speed, getting you in and out of the market in a flash. While other investors scramble to navigate volatile conditions, you'll have access to expertly curated trades that leverage these rapid shifts to deliver explosive profits in short order.

This is your chance to capitalize on the fast-moving market like never before. Are you ready to make your move?