Stocks Mixed as Nasdaq Rallies to End the Week

Amazon earnings are boosting the tech sector today

Deputy Editor
Oct 27, 2023 at 12:05 PM
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Stocks are mixed midday, as investors unpack the latest corporate earnings reports, as well as personal consumption expenditures and consumer spending data. Amazon's (AMZN) post-earnings pop is propping up the Nasdaq Composite (IXIC), though the tech-heavy benchmark is still on track for weekly losses alongside the other indexes. The Dow Jones Industrial Average (DJI) was last seen down triple digits, while the S&P 500 Index (SPX) is muted. 

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

  • Energy stock sinking to 3-year lows. 
  • Analyst sees upside for Merck stock
  • Plus, INTC rules the options pits; DECK jumps after earnings; and VVOS sinks on stock split. 

MMC Oct27

Intel Corp (NASDAQ:INTC) is the most popular stock amongst options traders today. The shares are up 8.3% at $35.22, following the company's better-than-expected third-quarter results and strong forecast. A handful of analysts chimed in with bull notes, with HSBC upgrading shares to "hold," while others hiked their price targets. So far, 165,000 calls and 137,000 puts have been traded , which is already five times the average daily options volume. The weekly 10/27 36-strike call is the most active, with new positions opening there. Intel stock's 200-day moving average captured yesterday's pullback, with shares up 33.7% in 2023. 

INTC Oct27

The New York Stock Exchange's (NYSE) Decker's Outdoor Corp (NYSE:DECK) is up 19.2% at $577.91 at last glance, after the company's strong fiscal second-quarter results and raised outlook. No fewer than seven firms lifted their price targets on DECK as well. Since the start of the year, the equity is up roughly 45%. 

Meanwhile, Vivos Therapeutics Inc (NASDAQ:VVOS) is at the bottom of the Nasdaq today, down 41.5% to trade at $3.79 at last look, and slipping into penny stock territory. This negative price action comes after the company revealed a 1-for-25 reverse stock split. So far in 2023, VVOS is down 63%. 

 

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