Investors are wary still, however
The major indexes are rebounding off early morning losses after U.S. and Iran negotiators reached a ceasefire extension deal, which would include a 60-day memorandum. The Nasdaq Composite (IXIC) is up triple digits, while the S&P 500 Index (SPX) sports a modest gain and the Dow Jones Industrial Average (DJI) trades just below breakeven. Crude prices remain stagnant, while investors digest the personal consumption expenditures (PCE) reading for April, which came roughly in-line with expectations at 0.4% on the month and 3.8% year-over-year.
Continue reading for more on today's market, including:
- Drone stock flying higher on Washington chatter.
- Post-earnings breakout for this electronics retail favorite.
- Plus, another surging aerospace stock; coal miner seeing gains; and one struggling retailer.
Aerospace name AeroVironment, Inc. (NASDAQ:AVAV) was last seen up 18.9% to trade at $215.20, surging after reports revealed that the Trump administration was in talks to fund drone companies with a Pentagon contract. AVAV is shaving off some of its 11% deficit for 2026, with options traders entering in droves. 19,000 calls have been purchased so far, eight times the average daily rate. Most popular are the June 165 and 260 calls, with buy-to-open activity detected at both.
One of the top names on the New York Stock Exchange (NYSE) is Peabody Energy Corp (NYSE:BTU), up 9% at $28.71 at last check, after the coal miner announced a convertible senior notes offering worth $225 million, due in 2031. Today's surge has BTU breaking above the $28 level for the first time since early April, eyeing its best day since Nov. 3. Over the last 12 months, the stock has gained 104%, with recent support stemming from the 320-day moving average.
Clothing retailer Burlington Stores Inc (NYSE:BURL) is near the bottom of the NYSE, last seen down 8.1% to trade at $299.78, brushing off a first-quarter earnings and revenue beat. BURL has seen choppy price action on the charts and is now clinging to its year-to-date breakeven level.