Strong Earnings Help Stocks to Midday Gains

The 10-year Treasury yield is hovering near its recent highs

Deputy Editor
Oct 24, 2023 at 12:00 PM
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Wall Street is notably higher midday, thanks to a strong batch of corporate earnings reports. Treasury yields are still on investors' minds, but the 10-year note was last seen hovering just below the 5% mark. The Dow Jones Industrial Average (DJI) and Nasdaq Composite (IXIC) are up triple digits, while the S&P 500 (SPX) sits firmly in the black as well. For the session, the Dow is on track to snap a four-day losing streak, and the SPX is looking for its first win in five days.

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

midday market stats october 242023

Riot Platforms Inc (NASDAQ:RIOT) is seeing continued interest from options traders, after the cryptocurrency sector bounced alongside Bitcoin (BTC). At last glance, RIOT was up 7.8% to trade at $10.44, as it moved back above pressure at its 200-day moving average. So far, 149,000 calls and 32,000 puts have been traded, which is four times the average daily options volume. The weekly 10/27 11-strike call is the most active contract, with new positions being opened there. 

RIOT Chart October 242023

Agilysys, Inc. (NASDAQ:AGYS) is trading near the top of the Nasdaq, following a post-earnings bull note. The software specialist reported fiscal second-quarter earnings and revenue that beat analysts' expectations, leading Craig-Hallum to lift its price target to $90 from $80. Last seen up 23.4% at $78.85, AGYS added 43.5% during the last 12 months.

Garrett Motion Inc (NASDAQ:GTX) stock is down 5.8% at $6.77 at last glance, after the company's third-quarter revenue fell below forecasts. While profits of 23 cents per share edged out estimates, that revenue miss is driving the security into a 9% year-to-date deficit as it stands as one of the Nasdaq's worst midday performers. 

 

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