Stocks Reverse Gains Ahead of Fed Minutes

Investors are still unpacking inflation data

Deputy Editor
Apr 12, 2023 at 12:04 PM
facebook X logo linkedin


Stocks have given back their premarket gains, with all three benchmarks modestly lower following this morning's highly-anticipated inflation data. Minutes from the Federal Reserve’s March policy meeting are due out later today, offering investors more insight as well. Meanwhile, for the first time in three weeks, the Energy Information Administration (EIA) reported a rise in U.S. crude supplies. 

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

  • Triton stock hits record high on take-private deal. 
  • Analyst sees upside for MongoDB stock
  • Plus, 2 more acquisitions to watch and a c-suite shakeup making news.

MMC April12

Options bulls are targeting National Instruments Corp (NASDAQ:NATI) today, after news that Emerson Electric (EMR) will acquire the company for $8.2 billion. So far, 36,000 calls have been exchanged -- 24 times the intraday average -- in comparison to 3,266 puts. The April 52.50 call is the most active, followed by the April 57.50 call, with new positions being opened at the latter. At last glance, NATI was up 9.5% at $57.60, and earlier hit a record high of $57.74. 

TESSCO Technologies Inc (NASDAQ:TESS) is at the top of the Nasdaq and trading at two-year highs, after news that the company is to be acquired by entities affiliated to private equity firms Lee Equity Partners and Twin Point Capital for $161.4 million. TESS is up 86.8% at $8.78 at last check, and sporting a 44.4% year-over-year lead. 

Meanwhile, the shares of Cutera Inc (NASDAQ:CUTR) are down 30.8% at $18.77 at last glance, after the medical equipment name fired CEO David Mowry and Executive Chairman Daniel Plants for disclosing "highly confidential internal deliberations of the board." Year-to-date, the equity is down 58%. 

CUTR April 12

 

*SPONSORED CONTENT*

How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.

*SPONSORED CONTENT*