Wall Street Cautiously Optimistic at Midday

Disney's subscriber report and earnings results gave sentiment a boost

Deputy Editor
Feb 9, 2023 at 11:52 AM
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The Dow Jones Industrial Average (DJI) is up 108 points midday, as Walt Disney's (DIS) upbeat subscriber report and earnings results give overall sentiment a boost. The S&P 500 (SPX) and Nasdaq Composite (IXIC) are both higher as well, as investors unpack higher-than-expected weekly jobless claims, which are fueling hopes the Fed will become less aggressive in its disinflation measures.  

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

  • Analysts turn bullish on casino stock after revenue win. 
  • Why Mattel stock is staging a dramatic drop. 
  • Plus, options traders target plummeting APPS, and two stocks swinging opposite directions on the Nasdaq. 

MMC Feb9

Options traders are blasting Digital Turbine Inc (NASDAQ:APPS) after the company's disappointing fiscal third-quarter results and full-year forecast. So far, 17,000 calls and 15,000 puts have been exchanged, which is seven times the intraday average amount. The February 12.50 put is the most active contract, with positions being bought to open there. At last glance, APPS was down 24.2% at $12.29, and on the short sale restricted (SSR) list. Plus, Oppenheimer downgraded the security to "perform" from "outperform," while Craig-Hallum cut its price target to $25 from $30. The 200-day moving average rejected the advertising stock's rally earlier this month, too.

APPS Feb9

Blue Bird Corp (NASDAQ:BLBD) is near the top of the Nasdaq after the company's mixed fiscal first-quarter report, up 36.4% to trade at $18.82 at last glance. The school bus manufacturer reported wider-than-expected losses of 30 cents per share alongside a revenue beat, after which two analysts lifted their price targets. Year-to-date, BLBD is up 76.1%. 

Conversely, Revelation Biosciences Inc (NASDAQ:REVB) is dropping to the bottom of the Nasdaq, down 40.7% to trade at $3.18 at last check, and earlier hitting a record low of $3. This negative price action comes after the company priced its $15.6 million public share offering. Year-over-year, the equity is down 96.5%. 

 

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