Wall Street Struggles for Direction as Oil Inches Higher

Oil prices are on the rise following yesterday's losses

Deputy Editor
Apr 11, 2023 at 12:13 PM
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Stocks are mixed, as investors look ahead to this week's economic data. The Dow Jones Industrial Average (DJI) is up double digits, while the S&P 500 Index (SPX) sits flat, and the Nasdaq Composite (IXIC) sinks deeper into the red. Meanwhile, oil prices are on the rise, with West Texas Intermediate (WTI) crude back above the $80 level. 

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

  • CarMax stock cruises toward best day in 3 years.  
  • Why WW International stock is skyrocketing today. 
  • Plus, options bears target KGC; TGTX jumps on drug sales; and OPI drops on merger. 

mmc April11

Options bears are targeting Kinross Gold Corp (NYSE:KGC) today. So far, 46,000 puts have been exchanged -- 35 times the intraday average -- in comparison to 4,415 calls. The August 3.50- and 5-strike puts are the most popular, with new positions opening at both. KGC is up 3.2% at $5.14 at last glance, after CIBC upgraded the stock to "outperform" from "neutral," with a price-target hike to $6.50 from $4.75. On track for its fifth-straight week of gains, the stock is up 25.3% year-to-date. 

KGC April11

TG Therapeutics Inc (NASDAQ:TGTX) is up 17.8% at $22.38 at last glance. Yesterday, brokerage Cantor Fitzgerald saw a "solid jump" in March sales for the newly approved Briumvi, the company's multiple sclerosis (MS) drug, while today B Riley raised its price target to $39 from $23. Year-to-date, the equity is up 89.2%. 

Meanwhile, the shares of Office Properties Income Trust (NASDAQ:OPI) are down 23.7% at $8.81, after news that the Real Estate Investment Trust (REIT) will merge with Diversified Healthcare Trust (DHC) in an all-share deal. Trading at fresh record lows, OPI is down 34.3% year-to-date. 

 

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