Several big-name earnings reports dropped this morning
The major indexes are a mixed bag this afternoon, as investors eye tomorrow's highly anticipated inflation data and chip stocks struggle. A handful of notable earnings reports have trickled in to occupy them in the meantime. At last glance, the Dow Jones Industrial Average (DJI) is slightly higher, the Nasdaq Composite Index (IXIC) is flat, and the S&P 500 Index (SPX) is just below breakeven.
Continue reading for more on today's market, including:
- Mega-cap chip stock fumbles outlook.
- Clothing powerhouse eyes worst day ever.
- Plus, blue chip popular in the options pits; BlackBerry stock surges; and a sinking EV stock.
Drugstore giant Walgreens Boots Alliance Inc (NASDAQ:WBA) is seeing an exorbitant amount of options today, after slashing its full-year profit outlook and missing its quarterly earnings expectations. So far, 127,000 calls and 126,000 puts have crossed the tape, which is 10 times the average intraday volume. Most popular is the weekly 7/5 17.50-strike put, where options are being sold. WBA is now off over 54.7% in 2024, and was last seen down 24.5% to trade at $11.82, a new record low.
One of the best performers on the New York Stock Exchange (NYSE) today is BlackBerry Ltd (NYSE:BB), after the company posted better-than-expected first-quarter results. While the equity was last seen up 13.4% at $2.51, it remains far off its early 2021 higher lows, and is down 29.7% in 2024.
Xpeng Inc (NYSE:XPEV) is one of the worst stocks on the NYSE today, after news Volkswagen's CEO Oliver Blume purchased a stake in the company, and now plans to push out more practical electric vehicles (EV) and software with both Xpeng and Rivian Automotive (RIVN). XPEV was last seen down 6.3% at $7.71, and is suffering from a 47.4% year-to-date loss, with overhead pressure at the 100-day moving average.
