Microsoft Surge Sends Nasdaq to Record High

The S&P 500 is seeing a slew of positive quarterly reports

Deputy Editor
Aug 3, 2020 at 12:01 PM
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August is starting off on a positive note so far, with stocks gaining midday after the Supply Management’s purchasing manufacturing index (PMI) rose to 54.2 in July, higher than the anticipated 53.8. The Nasdaq Composite (IXIC) is climbing toward a record high as tech outperforms, with Microsoft (MSFT) leading the charge after announcing plans to purchase social media app TikTok. The Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) are also in the black, as big-name earnings remain in focus. Meanwhile, a second stimulus bill remains stalled in congress as debate continues.  

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

  • Tyson Foods stock rises on earnings. 
  • Popular cleaning concern takes breather. 
  • Plus, GPRO calls are a big hit; ADT surges on a new partnership; and Blue Apron stock is falling on the charts.

mmc stats August 3

One stock seeing notable activity in its options pits is GoPro Inc (NASDAQ:GPRO). Call volume is surging, with 15,000 calls across the tape so far -- 12 times what's typically seen. Most popular by far is the August 6.50-strike call. At last check, GPRO was up 2.6% at $5.42, after Wedbush raised its price target from $3.50 to $4.50.

ADT Inc (NYSE:ADT) is soaring to the top of the New York Stock Exchange (NYSE) today, last seen up 59% at $13.71, earlier hitting a new record high of $17.21. Today's surge comes after the company announced it will be partnering with Google (GOOGL) on smart home security products, giving the FAANG name a 6.6% stake in the company. Year-to-date, the equity is currently up an impressive 71%.  

Meanwhile, one of the bottom performers on the NYSE today is Blue Apron Holdings, Inc. (NYSE:APRN), down 7.7% to trade at $11.05 at last check. This drop comes amid news that the company is partnering with chef and TV personality Amanda Freitag for six weeks. Still up 67.3% year-to-date, today's pullback looks to have been captured at the 60-day moving average. 

APRN August 3



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