SPX Hits Another Record High as Apple Reaches Major Milestone

Apple stock reached a market cap of $2 trillion

Deputy Editor
Aug 19, 2020 at 12:01 PM
facebook X logo linkedin

The S&P 500 Index (SPX) is tentatively in the black midday, climbing to another record high as Target (TGT) outperformed following stellar earnings and a rise in comparable-store sales. Meanwhile, the Dow Jones Industrial Average (DJI) and Nasdaq Composite (IXIC) are also making gains after Apple (AAPL) became the first U.S.-traded company to reach a market cap of $2 trillion. Elsewhere, though coronavirus cases appear to be decreasing, investor sentiment is cautious surrounding the start of the school year. 

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

  • Nike stock climbs to new highs after analyst upgrade. 
  • Grocery giant "buy" signal flashing. 
  • Plus, TJX sees options surge after quarterly report; MNTA soars on billion-dollar deal; and the pharmaceutical stock plummeting on an FDA decision. 

mmc stats august 19

One stock seeing notable activity in its options pits is TJX Companies Inc (NYSE:TJX), down 7.6% at $53.06 at last check, after the company reported a wider-than-expected second-quarter loss and higher-than-anticipated revenue. So far, 20,000 calls and 12,000 puts have crossed the tape -- 11 times what's typically seen at this point. Most popular is the Sept. 62.50-strike call. TJX is still holding onto a 2.4% gain in the last monthly period, with the 80-day moving average swooping in to catch today's pullback. 

TJX mmc August 19

Soaring to the top of the Nasdaq today is Momenta Pharmaceuticals Inc (NASDAQ:MNTA), last seen up 69.3% at $52.18. MNTA is roaring past its former record high, after news that Johnson & Johnson (JNJ) plans to buy the company for $6.5 billion in cash. Year-to-date, the stock is up an impressive 164.4%. 

On the opposite end of the Nasdaq is another pharma stock, BioMarin Pharmaceutical Inc (NASDAQ:BMRN), which is set for its worst day in 11 years -- down 40% at $80.63 at last check. Today's drop comes after the Food and Drug Administration (FDA) failed to approve the company's bleeding disorder treatment. Evercore ISI subsequently downgraded the stock to "in-line" from "outperform," with a price-target cut to $80 from $140, while Piper Sandler cut its price target to $123 from $133. Year-to-date, the equity is down 6.3%. 


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI