Tech Earnings Help Boost Sentiment After Dismal Jobs Data

Private payrolls data shocked Wall Street this morning

Deputy Editor
Feb 2, 2022 at 12:10 PM
facebook X logo linkedin

The Dow Jones Industrial Average (DJI) and Nasdaq Composite (IXIC) are lower midday, while the S&P 500 Index (SPX) inches higher in the hopes of nabbing a fourth-straight win. Dismal jobs data is weighing on the indexes today, after private payrolls fell by a shocking 301,000 -- the first negative jobs growth since December of 2020. However, post-earnings pops from stocks such as Alphabet (GOOGL) and Advanced Micro Devices (AMD) are helping prop up the tech sector.

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

  • Analysts and options traders target SBUX after earnings.  
  • Why PayPal stock is plummeting today. 
  • Plus, options traders target RNW; ATI surges; and ELMS spirals to record low. 

MMC Feb2

ReNew Energy Global PLC (NASDAQ:RNW) is seeing a surge in options activity, after the company announced a $250 million share buyback program and preliminary third-quarter results. The stock's options pits are typically very quiet, and the 15,000 calls and 15,000 puts across the tape so far is 199 times its usual intraday average. The April 7.50 call and April 5 put make up almost all of this activity, with new positions being opened at both. RNW has been moving higher since bouncing off its Jan. 25 record low of $5.06, and is today up 3.2% to trade at $6.24.


One of the best performers on the New York Stock Exchange (NYSE) today is Allegheny Technologies Inc (NYSE:ATI), last seen up 14.1% to trade at at $21.46. The company announced better-than-expected fourth-quarter results before the bell this morning, and its board of directors authorized a $150 million share repurchase. Gapping to its highest level since July, ATI is up 34.8% year-to-date. 

Meanwhile, Electric Mile Last Solutions Inc (NASDAQ:ELMS) is careening into penny stock territory, down 34.9% to trade at $3.64 at last check, and earlier hitting a new record low of $3.47. After an investigation into their share purchases, the company's top two executives have resigned. To follow, no fewer than four analysts downgraded ELMS. Year-over-year, the stock is now down 71.3%. 


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 calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI