The Nasdaq is working to scrape together a seventh straight daily gain
The Dow Jones Industrial Average (DJI) is modestly in the black midday, up around 50 points as markets oscillate between the positivity surrounding the tentative reopening and more negative economic data. The tech-heavy Nasdaq Composite (IXIC) is also hovering in the black, fighting to secure its seventh straight win. The S&P 500 Index (SPX), however, has slipped into the red. Eyes are also on National Institute of Allergy and Infectious Diseases Director Dr. Anthony Fauci, who warned if the U.S. continues to open prematurely, it will see "little spikes that might turn into outbreaks," during a testimony to the Senate this afternoon.
Continue reading for more on today's market, including:
- Datadog stock eyes three-day win streak.
- Behind one airline stock's c-suite shuffle.
- Plus, UNFI sees a surge in call options; Novavax gets a funding boost; and the software name down after a quarterly miss.
One stock seeing unusual options activity today is United Natural Foods Inc (NYSE:UNFI), up 13.3% at $14.37 at last check, earlier hitting an annual high of $14.84. The organic food producer has seen 8,708 calls across the tape so far -- seven times what's typically seen. Most popular is the May 12.50 call, followed by the May 15 call. Though the reason for the rise in volume is unclear, today's pop has UNFI up 45.5% on the month and 65.7% year-to-date.
Topping the Nasdaq today is Novavax Inc (NASDAQ:NVAX), up 56% at $38.21 at last check, after the company gained $384 million in funding for its COVID-19 vaccine development. Following this, NVAX received two price-target raises, including one from H.C. Wainwright to $50. Novavax stock has now surged more than 500% over the last 12 months, and is enjoying this morning hitting a fresh annual peak of $42.55.
On the flip side, near the bottom of the Nasdaq is CommVault Systems Inc (NASDAQ:CVLT), down 11.6% at $40.08 at last check. This follows the software company's fiscal fourth quarter earnings and revenue miss, and now has the equity down 10.2% year-to-date. However, the stock's bear gap was just met with support at the 40-day moving average.
