Investors are unpacking fourth-quarter GDP that beat estimates
Stocks are a mixed bag today, even after fourth-quarter gross domestic product (GDP) data beat estimates. Investors are digging into a fresh batch of corporate earnings reports, with Tesla (TSLA) and a host of airline companies headlining today. At last check, the Dow Jones Industrial Average (DJI) is roughly 66 points lower, the S&P 500 Index (SPX) is near breakeven, and the Nasdaq Composite (IXIC) is modestly higher.
Continue reading for more on today's market, including:
- Call traders blast Tesla stock after earnings.
- Brokerage turns bearish on blue-chip pharma stock.
- Plus, energy stock's put activity; Buzzfeed's big payout; and CVLG's earnings whiff.
Antero Resources Corp (NYSE:AR) is seeing an unusual amount of put activity today, with 6,398 bearish bets across the tape so far. New positions are being opened at the most popular contract, the March 30 put. Last seen down 3.5% to trade at $28.24 and now down 9.1% in 2023, AR still sports a 53.1% year-over-year gain.
Buzzfeed Inc (NASDAQ:BZFD) was last seen 50.5% higher at $1.43, after Facebook parent Meta Platforms (META) paid the digital media company $10 million to attract customers to the company's platforms. Year-to-date, Buzzfeed stock is nearly 100% higher.
Near the bottom of the Nasdaq, Covenant Logistics Group Inc (NASDAQ:CVLG) was last seen down 16% to trade at $32.30, after missing fourth-quarter earnings per share estimates. Despite today's dip, CVLG is holding onto a more than 50% year-over-year lead.