Dow Sheds Over 500 Points as Selloff Deepens

Wall Street is unpacking blue-chip retail earnings

Deputy Editor
Feb 21, 2023 at 12:01 PM
facebook X logo linkedin


The Dow Jones Industrial Average (DJI) is down a staggering 511 points as the market extends its morning slide, while both the S&P 500 Index (SPX) and Nasdaq Composite Index (IXIC) are also firmly lower. Investors are keeping an eye on rising bond yields, as well as plenty of retail earnings, including results from Walmart (WMT). Plus, existing home sales hit their lowest level in 12 years.

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

  • Generac stock downgraded on higher interest rates. 
  • Medical device stock eyes worst single-session drop.  
  • Plus, HD draws options traders; oil stock surging; and Donnelley Financial shares quarterly miss.

MMC Feb21

Options bulls are blasting Home Depot Inc (NYSE:HD), after the retailer's mixed fourth-quarter results. So far, 43,000 calls and 37,000 puts have crossed the tape, which is five times the intraday average volume. The weekly 2/24 330-strike call is the most active contract, with positions being opened there. HD was down 5.2% at $301.42 at last check, and breaking below its 100-day moving average. 

HD Feb21

The New York Stock Exchange's(NYSE) Helix Energy Solutions Group Inc (NYSE:HLX) is up 15.7% to trade at $8.82 at last check, after the company's fourth-quarter report. The oil name reported better-than-expected earnings of 2 cents per share alongside a revenue beat, after which BTIG raised its price target to $12 from $10. Year-over-year, HLX is up 118.8%. 

The shares of Donnelley Financial Solutions Inc (NYSE:DFIN) are moving in the opposite direction, after the company's fourth-quarter results missed estimates. At last glance, DFIN was down 21.3% at $39.01. Year-over year-date, however, the security is still up 17.1%. 

 

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