Earnings Season Highlights

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A collection of noteworthy post-earnings reactions
Published on Nov 18, 2019 at 9:16 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Opening View

Fresh off Friday's 11th record close of 2019 and first-ever trip over 28,000, Dow futures are indicating a slightly negative open this morning after a report indicated Chinese officials are pessimistic about the prospects of a trade deal with the U.S. More specifically, Beijing is said to be troubled by President Donald Trump's recent protestations over a mutual tariff rollback. Wall Street is also unpacking weekend reports that the Trump administration is on the verge of extending licenses for U.S. companies to work with Chinese tech giant Huawei. 

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

  • 2 stocks blasted by options traders. 
  • Watch for this REIT to hit new highs next month. 
  • Plus, Ford rolls out Mustang Mach E; Xerox takes a breather after HPQ rejects offer; Boeing gets big SunExpress order. 

Stock Futures Chart Nov 18

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw 1.62 million call contracts traded on Friday, compared to 792,024 put contracts. The single-session equity put/call ratio moved down to 0.49, while the 21-day moving average came in at 0.61.
  2. The shares of Ford Motor Company (NYSE:F) are up 1.5% in electronic trading after announcing the Mustang Mach E, the company's first all-electric SUV. F has remained confined by its 80-day moving average in the last six months, but is on pace to challenge this resistance in today's trading.
  3. Xerox (NYSE:XRX) stock is down 1.7% ahead of the bell, after HP Inc (NYSE:HPQ) rejected the printer maker's $33.5 billion cash-and-stock takeover offer. HPQ representatives say the offer "significantly" undervalued the tech company -- but expressed willingness to explore a bid to acquire Xerox. XRX settled Friday at an 11-year closing high of $38.94, just short of a year-to-date double.
  4. The shares of Boeing Co (NYSE:BA) are up 0.5% in electronic trading, after Turkish airliner SunExpress ordered 10 additional 737 MAX aircraft worth $1.2 billion at list prices. Boeing stock broke out above its 200-day moving average on Friday, and could now attempt to notch its highest close in a month. 
  5. The Empire State manufacturing index data, import and export prices, and business inventories are out today. JD.com (JD) will report earnings.

buzz stocks nov 18

Stimulus Hopes Boost Shanghai; European Stocks Flat

Stocks in Asia settled mostly higher, bolstered by fresh stimulus hopes after the People's Bank of China (PBOC) trimmed its seven-day reverse repo rate for the first time since 2015. Hong Kong's Hang Seng rose 1.4%, while China's Shanghai Composite gained 0.6%. Japan's Nikkei was close behind, climbing 0.5%, but South Korea's Kospi lagged its regional peers by backpedaling 0.07% on a weak session for industrial stocks.

European markets are little changed at midday, with no major earnings or economic data to steer stocks. However, there's some M&A news to consider; Germany's Qiagen is reportedly exploring a sale, while Euronext and SIX are poised for a potential bidding war over Spanish exchange BME. At last check, London's FTSE 100 is up 0.3%, the German DAX is off 0.2%, and the French CAC 40 is 0.07% lower.

Published on Nov 18, 2019 at 12:06 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Midday Market Check

The Dow Jones Industrial Average (DJI) is hitting fresh highs today, boosted by big gains for Walt Disney (DIS) stock. However, the upside is modest, as energy giant Chevron (CVX) sells off with oil prices. Specifically, December-dated crude is down 1.8% at $56.71 per barrel. Wall Street is also watching for updates on the U.S.-China trade front, and digesting news of a meeting between President Donald Trump and Fed Chair Jerome Powell, which the former described as "good & cordial" in a subsequent tweet.

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

  • Behind SunPower stock's latest dive.
  • Bearish analysts blitz L Brands before earnings.
  • Plus, Workday options run hot after downgrade; bull note boosts AMD to top of S&P; and why Abiomed stock is selling off.

midday market stats nov 18

Workday Inc (NASDAQ:WDAY) is seeing unusual options volume, after the software stock was hit with a downgrade to "equal weight" from "overweight," and a price-target cut to $180 from $219 at Morgan Stanley. WDAY stock is down 1% at $164.30, and roughly 24,000 options have changed hands -- nine times what's typically seen. The December 170 and 180 calls are most active, and new positions are being initiated here.

Advanced Micro Devices, Inc. (NASDAQ:AMD) is at the top of the S&P 500 today, after Cowen and Company raised its price target on the chip stock to $47 from $40. AMD stock -- which is fresh off its longest weekly win streak in over a year -- was last seen up 2.6% at $39.56, earlier hitting a new 13-year high of $39.99.

Abiomed, Inc. (NASDAQ:ABMD) is the worst S&P 500 stock at midday, with some pointing to a pair of studies questioning the risks associated the company's high-priced Impella heart pump. Whatever the reason, ABMD stock is down 10.1% at $200.75, testing potential support near its Aug. 1 bear gap lows.

abmd stock daily price chart on nov 18

Published on Nov 19, 2019 at 9:19 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Opening View

Dow futures are on pace for yet another record high today, boosted by pre-market strength for Boeing stock after the aerospace giant attracted over 50 orders for its contentious 737 Max jet during the Dubai Air Show. This news is helping to offset abysmal earnings from Home Depot, with HD stock sliding more than 3% ahead of the bell after same-store sales missed analysts' estimates.

Elsewhere, investors are poring over a 12-year high in October building permits, while President Donald Trump tweeted that he "protested... that our Fed Rate is set too high" during his Monday meeting with Fed Chair Jerome Powell. 

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

  • Options bulls pile on Amazon stock amid EU probe. 
  • Inside a roughly $8M bet on Micron earnings volatility
  • Plus, Kohl's earnings miss the mark; Guggenheim downgrades MSGN stock; and demand for Alibaba's Hong Kong IPO skyrockets. 

Futures Chart Nov 19

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw 1.30 million call contracts traded on Monday, compared to 720,252 put contracts. The single-session equity put/call ratio moved up to 0.55, while the 21-day moving average came in at 0.61.
  2. Department store operator Kohl's Corporation (NYSE:KSS) is down 13.4% in electronic trading after the firm posted third-quarter earnings of 74 cents per share and 0.4% same-store sales growth -- both of which fell below analysts' expectations. KSS also slashed its full-year earnings outlook. 
  3. MSG Networks Inc (NYSE:MSGN) is sinking today on a Guggenheim downgrade to "sell" from" neutral." The analyst expressed concern as the firm approaches several contract renewals covering roughly 40% of its subscriber base. The stock is down 4.5% ahead of the open. 
  4. The shares of Alibaba Group Holding Ltd (NYSE:BABA) are inching higher this morning after a CNBC report said the China-based e-commerce company was closing the books early on its Hong Kong IPO, due to higher-than-expected demand. The stock is up 0.7% in electronic trading. 
  5. The National Association of Home Builders (NAHB) housing market index is due out today. New York Fed President John Williams will speak. Earnings are expected from 58.com (WUBA), JinkoSolar (JKS), TJX Companies (TJX), and Urban Outfitters (URBN).

buzz stocks on nov 19

Asian Markets Mixed as Investors Await More U.S.-China Trade Headlines 

Markets in Asia were a mixed bag today. There was little to be found in terms of data releases, so investors remained cautious ahead of the next U.S.-China trade headlines. China's Shanghai Composite added 0.9%, while Hong Kong's Hang Seng shook off political unrest to tack on 1.6%. Japan's Nikkei gave back 0.5% amid a rough outing from automation stock FANUC, while South Korea's Kospi edged lower by 0.3%.

Over in Europe, stocks are brushing off the U.S.-China trade uncertainty and advancing higher. London's FTSE 100 is up 1.2% at last check, powered by big days from tech stock Halma and airliner easyJet. Rounding out the region, the French CAC 40 is up 0.3%, while the German DAX is 0.9% higher.

Published on Nov 19, 2019 at 11:56 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Midday Market Check

Stocks hit new record highs out of the gate as traders cheered news of Boeing's (BA) Dubai Air Show 737 Max jet orders and upbeat housing data. However, the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) have since swung into the red on a negative earnings reaction for several retailers -- including Home Depot (HD) -- ahead of the key holiday shopping season, putting the latter at risk of snapping its five-day winning streak.

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

  • Why Guggenheim is selling this media stock.
  • What this ETF can tell us about the IPO market, courtesy of founder and CEO Bernie Schaeffer.
  • Plus, Philip Morris bears brace for bigger losses; cancer stock more than doubles on drug data; and Kohl's sinks after earnings.

midday market stats nov 19

One name seeing unusual options volume today is Philip Morris International Inc. (NYSE:PM), with nearly 5,000 puts on the tape -- three times what's typically seen at this point. The December 82.50 put is most active, and it looks like new positions are being purchased here for a volume-weighted average price of $1.35, which would make breakeven for the put buyers $81.15 (strike less premium paid). PM stock was last seen down 1.1% at $83.90.

Myovant Sciences Ltd (NYSE:MYOV) is at the top of the New York Stock Exchange (NYSE) today, after the biotech said its advanced prostate cancer drug met its goals in a late-stage study. MYOV stock is up 144.9% at $14.84, set to close above its 200-day moving average for the first time since April.

myov stock daily price chart on nov 19

Kohl's Corporation (NYSE:KSS) is at the bottom of the Big Board, last seen down 18% at $47.90 -- good news for options bears. The department store chain reported adjusted third-quarter earnings and same-store sales that came in below the consensus estimates, and slashed its full-year adjusted profit forecast.

Published on Nov 18, 2019 at 4:34 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Market Recap

Stocks traded in a tight range today, but though the Dow, S&P 500, and Nasdaq closed near breakeven, all three indexes managed to grab fresh record highs. Trade uncertainty was hanging over equities early on, with the weakness spreading to the commodity space, where oil prices struggled. The action could pick up tomorrow, however, as earnings will come into focus due to a quarterly update from blue chip Home Depot (HD).

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

  • The drug stock that soared 400%.
  • Put players are jumping on Urban Outfitters before earnings.
  • Plus, call buyers stay on health insurer; traders target consolidating stock; and signal says Ferrari going higher. 

The Dow Jones Industrial Average (DJI - 28,036.22) ended the day up 31.3 points, or 0.1%. Fourteen of the 30 Dow components closed with gains, led by Walt Disney's (DIS) 2.1% rise. Chevron (CVX) paced the losers, falling 1.7%.

The S&P 500 Index (SPX - 3,122.03) added 1.6 points, or 0.05%, and the Nasdaq Composite (IXIC - 8,549.94) rose 9.1 points, or 0.1%.

The Cboe Volatility Index (VIX - 12.46) added 0.4 point, or 3.4%.

Closing Indexes Summary Nov 18

NYSE and Nasdaq Stats Nov 18

5 Items on Our Radar Today

  1. Stadia, the streaming video game service from Alphabet's (GOOGL) Google, launched today. This version costs users $10 a month, with a free version expected to come out next year. Probably unsurprisingly, some have noted technical glitches in the service's technology. (Fortune)
  2. It was another dismal day for publicly traded marijuana growers. These stocks were already getting hit hard on the charts, and another sharp sell-off from Aurora Cannabis (ACB) in the wake of Friday's poor quarterly report only added new pressure today. (MarketWatch)
  3. Call buyers keep betting on this hot health insurer.
  4. How traders are playing the consolidation in Huntsman shares.
  5. A signal showing potential upside for Ferrari.

Unusual Options Activity Nov 18

Gold Prices Get a Lift

As mentioned, it was a bad day for oil prices. December crude futures fell 67 cents, or 1.2%, to $57.05 per barrel.

Gold prices, meanwhile, benefited from a weaker dollar. December gold futures finished up $3.40, or 0.2%, at $1,471.90 an ounce.
Published on Nov 19, 2019 at 4:31 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Market Recap

The U.S. stock market struggled today due to weakness in the retail sector. A disappointing earnings release from Home Depot (HD) was the main focus, pulling the Dow off its early record high. The S&P and Nasdaq each pulled back from their own milestones, too, despite a strong session for healthcare stocks. Traders also considered more commentary on the U.S.-China trade fight from President Donald Trump, who said in a Cabinet meeting that he'll raise tariffs on China if the countries can't make a deal.

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

The Dow Jones Industrial Average (DJI - 27,934.02) closed down 102.2 points, or 0.4%, with half of its 30 components closing in the red. Visa (V) led the winners with a 1.7% advance, and HD's 5.4% drop paced the losers.

The S&P 500 Index (SPX - 3,120.18) dropped 1.9 points, or 0.06%, and the Nasdaq Composite (IXIC - 8,570.66) managed a 20.7-point, or 0.2%, win.

The Cboe Volatility Index (VIX - 12.86) added 0.4 point, or 3.2%.

Closing Indexes Summary Nov 19

NYSE and Nasdaq Stats Nov 19

5 Items on Our Radar Today

  1. People are still looking through a paper released yesterday by former Treasury Secretary Lawrence Summers, which essentially shines a light on the deficiencies in the current tax collection process in the U.S. Numbers from the research suggest the "tax gap" could grow to $7.5 trillion over the next 10 years. (CNBC)
  2. The largest coal power plant in the West just closed. The Navajo Generating Station used the last of its coal on Monday, with the company's CEO saying the economics didn't make sense anymore given the price of natural gas and renewable energy sources. (Arizona Republic)
  3. 2 stocks caught in the Kohl's headwinds.
  4. Options traders take aim at Lowe's before earnings.
  5. A British biotech that boomed on drug data.

Corporate Earnings Nov 19

Unusual Options Activity Nov 19

Oil Prices Fall Again

Oil prices got hit hard again on oversupply concerns. December crude futures fell $1.84, or 3.2%, to close at $55.21 per barrel.

Gold prices got a lift amid the pullback in equities. December gold futures added $2.40, or 0.2%, to close at $1,474.30 an ounce.
Published on Nov 20, 2019 at 9:17 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Opening View

Stock futures are pointing lower today after the Wall Street Journal said recent trade talks between the U.S. and China could soon come to an "impasse," which could stop the much-anticipated phase one agreement from happening. This comes shortly after President Donald Trump's threat to raise tariffs on Chinese goods if the two countries don't make a deal. In other news this morning, both Target (TGT) and Lowe's (LOW) are surging after well-received earnings reports. Meanwhile, Wall Street is eyeing the minutes from the Fed's October policy meeting, slated for release this afternoon. 

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

  • What a 3-year low in S&P volatility means for stocks, according to Schaeffer's Senior Quantitative Analyst Rocky White. 
  • The British biotech stock that doubled on promising drug data. 
  • Plus, Raymond James upgrades Intelsat; DFFN pops on upbeat trial results; and URBN stock slips after earnings. 

Futures Chart Nov 20

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw 1.13 million call contracts traded on Tuesday, compared to 652,013 put contracts. The single-session equity put/call ratio moved up to 0.58, while the 21-day moving average came in at 0.59.
  2. Intelsat SA (NYSE:I) is surging in electronic trading after Raymond James lifted its rating to "outperform" from "market perform," citing the stock's improved valuation after a "dramatic" pullback. The security is up 16.3% ahead of the bell. 
  3. The shares of penny stock Diffusion Phamaceuticals Inc (NASDAQ:DFFN) are poised to open 55.5% higher after its experimental brain tumor treatment, when used in combination with the current standard of care, led to increased survival rates in a late-stage study. 
  4. Urban Outfitters, Inc. (NASDAQ:URBN) is on track to open the session down 14.7% after the firm posted worse-than-expected profits for its third quarter -- its first miss in seven quarters -- citing price cuts in its women's apparel brand. URBN also fell short of sales expectations.
  5. Today, Wall Street will comb over the minutes from the latest Federal Open Market Committee (FOMC) meeting, along with the weekly crude inventories update. L Brands (LB), NetEase (NTES), and Nuance Communications (NUAN) will step into the earnings confessional.

buzz stocks nov 20

Tariff Threats Slam Asian, European Markets 

Asian markets took a hit today, after Trump told his cabinet he will "just raise the tariffs even higher" on Chinese products if the two sides don't strike a trade deal ahead of a planned Dec. 15 hike. In response, China's Shanghai Composite finished down 0.8%, while Hong Kong's Hang Seng gave back 0.8%. Japan's Nikkei shed 0.6%, after export data for October fell by a higher-than-anticipated 9.2% year-over-year. South Korea's Kospi paced the region with a 1.3% loss, brought down by tech heavyweights Samsung Electronics and SK Hynix.

Over in Europe, stocks are declining amid the renewed trade tensions between the U.S. and China. Comments from the European Central Bank (ECB) in its Financial Stability Review are also in focus, after the bank warned of excessive risk-tasking as a macro challenge to the eurozone economy. London's FTSE 100 is down 1% at last check, despite a big earnings beat from software company Micro Focus. Elsewhere, the French CAC 40 is off by 0.4%, while the German DAX is down 0.7%.

Published on Nov 20, 2019 at 12:00 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Midday Market Check

Stocks are struggling at midday amid lingering concerns over U.S.-China trade negotiations. Although the major benchmarks have come off their intraday lows, the Dow Jones Industrial Average (DJI) is down more than 90 points at last check on sharp losses for consumer products specialist 3M (MMM). The S&P 500 Index (SPX) is also in the red, while the Nasdaq Composite (IXIC) bounces between positive and negative territory. Looking ahead, the minutes from the latest Fed meeting are due out at 2 p.m. ET.

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

midday market stats nov 20

L Brands Inc (NYSE:LB) is seeing unusual options volume, as the retailer prepares to report third-quarter earnings after tonight's close. Despite LB's dismal earnings history, roughly 35,000 calls have changed hands -- 18 times what's typically seen at this point -- versus around 11,000 puts. The January 2020 17.50-strike call is popular today, and it's possible new positions are being purchased here. LB shares are down 6.9% at $16, nearing their Sept. 3 nine-year low of $15.82.

Target Corporation (NYSE:TGT) is at the top of the S&P 500 today, up 12.3% at $124.55 -- likely catching a recent batch of options bears off-guard. TGT stock is fresh off a record high of $126.06 earlier today, after the retailer reported blowout third-quarter results and boosted its full-year profit forecast.

Nordstrom, Inc. (NYSE:JWN) is one of the worst stocks on the SPX this afternoon -- down 3.2% at $34.38, surrendering a foothold atop its 40-day moving average. Sector headwinds have knocked JWN shares down 9.9% this week, ahead of the department store chain's own turn in the earnings confessional after the market closes tomorrow, Nov. 21.

jwn stock daily price chart on nov 20

Published on Nov 21, 2019 at 9:19 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Opening View

Stock futures are inching higher this morning, with the Dow signaling a roughly 19-point gain at the open after a new Wall Street Journal report suggested that China invited U.S. officials to its capital to continue trade negotiations during a phone call last week. This follows yesterday's reports that the phase one trade deal may not be reached until next year. Meanwhile, investors are poring over U.S. weekly jobless claims, which were unchanged for the week at a five-month high. Wall Street is also anticipating existing home sales data, which will pop up later today. 

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

  • Options bulls just called the bottom on this sinking pot stock.  
  • This brokerage stock's recent rally may be over, says signal. 
  • Plus, Macy's tanks after earnings; Canopy stock soars on weed legalization hopes; Charles Schwab makes bid for TD Ameritrade. 
Future Chart Nov 21

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw 1.13 million call contracts traded on Wednesday, compared to 721,353 put contracts. The single-session equity put/call ratio moved up to 0.64, while the 21-day moving average came in at 0.59.
  2. Macy's Inc (NYSE:M) has fallen 4.1% in electronic trading after the retailer reported earnings that exceeded analysts' estimates, but worse-than-expected same-store sales. The firm also slashed its full-year sales and profit outlook, citing less traffic at malls, and the warmer weather this year. 
  3. Canopy Growth Corp (NYSE:CGC), along with the rest of the pot sector, is getting a pre-market boost today after the House Judiciary Committee approved a bill aimed at federal marijuana legalization. Fresh off its post-earnings slide, CGC stock is set to open 9.9% higher. 
  4. Reports that Charles Schwab Corporation (NYSE:SCHW) is poised to buy rival TD Ameritrade Holding Corp. (NASDAQ:AMTD) has both discount brokerage stocks soaring this morning. According to a report from CNBC, the deal would create a company with $5 trillion in combined assets. SCHW is up 12.3% ahead of the bell, while AMTD is up 24.5%. 
  5. The Philadelphia Fed business outlook survey and existing home sales will be in focus today. BJ's Wholesale Club (BJ), Gap (GPS), Intuit (INTU), Nordstrom (JWN), Pure Storage (PSTG), Ross Stores (ROST), Seadrill (SDRL), and Splunk (SPLK) will unveil earnings.

stocks in the news nov 21

Tariff Tensions Knock Asian, European Markets Lower 

Asian markets ended lower across the board today, with reports indicating that the U.S. and China remain at odds over the tariff rollbacks that have become central to a phase one trade agreement. Tensions ramped up after both chambers of U.S. Congress on Wednesday passed, with near-unanimous support, the Hong Kong Human Rights and Democracy Act -- a piece of pro-human rights legislation that has already been condemned by the Chinese Foreign Ministry. By the close, Hong Kong's Hang Seng fell 1.6%, South Korea's Kospi lost 1.4%, Japan's Nikkei gave up 0.5% as the yen garnered a safe-haven bid, and China's Shanghai Composite backpedaled 0.3%.

As geopolitical tensions take the spotlight, stocks in Europe are following Asia lower at midday. Earnings are also in focus, including big post-report sell-offs for British courier service Royal Mail and German industrial giant Thyssenkrupp. At last look, London's FTSE 100 is off 0.7%, the French CAC 40 is 0.2% lower, and the German DAX is down 0.1%.

Published on Nov 21, 2019 at 11:55 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Midday Market Check

The U.S. stock market is lower at midday, as traders digest a new round of retail earnings, with Macy's (M) and BJs Wholesale Club (BJ) the latest to turn in disappointing results. Wall Street is also waiting on fresh U.S.-China trade updates --  with the latest reports indicating Beijing invited American negotiators to hold face-to-face talks -- and eyeing a larger-than-expected rise in weekly jobless claims. Against this backdrop, the Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) are pacing for a third straight loss, while the Nasdaq Composite (IXIC) is poised for back-to-back drops.

  • The tech stock slapped with a new "sell" rating.
  • Analysts rush to catch up with surging Target stock.
  • Plus, Medtronic puts pop; L Brands sees a strong holiday season; and Seadrill slumps as chairman exits.

midday market stats on nov 21

Medtronic (NYSE:MDT) is seeing unusual options volume today, after Deutsche Bank lifted its price target to $123 from $118. Options players are picking up puts, with 3,300 contracts across the tape so far -- roughly double the average intraday amount -- compared to 2,200 calls. The weekly 12/6 111-strike put is popular, and it looks these contracts being bought to open. MDT shares are down 1.9% at $110.42,  testing their footing back atop the 10-day moving average.

Victoria's Secret parent L Brands Inc (NYSE:LB) is near the top of the New York Stock Exchange (NYSE) today, thanks to strong comparable sales at Bath & Body works in the third quarter, as well as an upbeat forecast for the holiday shopping season. At last check, LB stock is up 78% at $16.80, but remains 34% lower in 2019, under pressure from its 50-day moving average.

lb daily chart nov 21

Seadrill Ltd (NYSE:SDRL) is near the bottom of the Big Board, down 23.4% at $0.93, a record low. This comes after the oil rig operator said Chairman John Fredriksen -- who is also SDRL's top stakeholder -- is stepping down, effective immediately, as the company meets with lenders to discuss restructuring debt.

Published on Nov 21, 2019 at 4:33 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Market Recap

Stocks spent the majority of the day in the red, and though the Dow managed to pare most of its losses by the close, it finished lower for a third straight day. The S&P 500 also logged a third consecutive loss as tech weakness outweighed strength from the energy sector, while the Nasdaq fell, as well. Meanwhile, retail earnings and trade buzz were also in focus, as the major indexes head into Friday's session flirting with weekly losses.

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

  • Twitter options popped during stock's rally.
  • How the market is preparing for Foot Locker earnings.
  • Plus, mining stock gets hit; retailer flashes bear signal; and analyst note puts pressure on Applied Materials.

The Dow Jones Industrial Average (DJI - 27,766.29) closed down 54.8 points, or 0.2%, with 15 of 30 Dow components closing in the black. Exxon Mobil (XOM) had the best day with a 2.4% gain, while Procter & Gamble (PG) was the biggest loser, closing down 1.6%.

The S&P 500 Index (SPX - 3,103.54) dropped 4.9 points, or 0.2%, and the Nasdaq Composite (IXIC - 8,506.21) fell 20.5 points, or 0.2%.

The Cboe Volatility Index (VIX - 13.13) added 0.4 point, or 2.7%. 

Closing Indexes Summary Nov 21

NYSE and Nasdaq Nov 21

5 Items on Our Radar Today

  1. Politico reported today that the Trump administration is considering starting a new trade investigation into the European Union. President Trump earlier this month delayed increasing tariffs on auto imports from Europe. (Politico)
  2. Israel's Prime Minister Benjamin Netanyahu has been charged with bribery, fraud, and breach of trust, spanning three separate cases. Netanyahu said the charges, brought by the Attorney General, are an attempt at a coup. (CNN)
  3. Why this mining stock slipped.
  4. Bed Bath & Beyond's big bear signal.
  5. The analyst note that put pressure on AMAT shares.

Earnings Nov 21

Unusual Options Activity Nov 21

Oil Has Big Day

Oil prices got a major boost today on hopes that major producers will extend supply cuts. January-dated crude closed up $1.57, or 2.8%, at $58.58 per barrel, marking its highest close in roughly two months.

Gold prices moved lower today. Gold dated for December delivery gave back $10.60, or 0.7%, to end at $1,463.60 an ounce.

Published on Nov 22, 2019 at 9:17 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Opening View

Stock futures are pointing higher today, with the Dow looking to snap its three-day losing streak. Trade optimism is back on the rise after Chinese President Xi Jinping told a visiting U.S. business delegation that Beijing has a "positive attitude" toward the ongoing negotiations, and President Donald Trump said on Fox and Friends that a phase one pact is "potentially very close." Meanwhile, Wall Street is combing over earnings from several retailers today, while anticipating manufacturing purchasing managers index (PMI) data due out later this morning. 

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

  • Options bulls targeted 3 pot stocks on federal marijuana legalization buzz. 
  • Calls popped on commodity stock FCX, despite the stock's drop.
  • Plus, TSLA unveils its Cybertruck, while Nordstrom and Ross Stores post third-quarter earnings beats. 

Snag_b29202ed

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw 998,396 call contracts traded on Thursday, compared to 584,334 put contracts. The single-session equity put/call ratio moved down to 0.59, while the 21-day moving average came in at 0.59.
  2. The shares of electronic car maker Tesla Inc (NASDAQ:TSLA) are off 4% pre-market following the firm's unveiling of its electric pick-up truck, the Cybertruck. Most analysts weighing in so far think competitors Ford (F) and General Motors (GM) face no real threat from the futuristic truck model, and Deutsche Bank added, "The shattering of the truck’s unbreakable glass windows during the live demonstration was not a good start."
  3. Nordstrom, Inc. (NYSE:JWN) stock has tacked on 8.5% ahead of the bell, after the retailer posted third-quarter earnings and revenue that topped analysts' estimates. The department store name also hiked the lower end of its 2020 profit forecast, and brushed off the possibility of material tariff impacts. 
  4. Another retailer rising on a positive quarterly report this morning is Ross Stores, Inc. (NASDAQ:ROST), up 0.9% in electronic trading after posting better-than-expected third-quarter profits and revenue. The company's fourth-quarter sales forecast also topped expectations. 
  5. The University of Michigan's consumer sentiment survey will be unveiled today. Buckle (BKE), Hibbett Sports (HIBB), and J M Smucker (SJM) will step into the earnings spotlight.

buzz stocks nov 22

Trade Murkiness Leaves Asian Markets Mixed

Asian markets stumbled to a mixed finish today, as investors entered the weekend with no further clarity on a potential phase one U.S.-China trade deal. China's Shanghai Composite fell 0.6% to underperform its regional counterparts, with most other equity benchmarks settling modestly higher. Hong Kong's Hang Seng advanced 0.5%, while Japan's Nikkei and South Korea's Kospi each rose 0.3%.

London-listed stocks are leading the charge over in Europe, with the FTSE 100 rallying 1.4% as weak manufacturing and services data applies pressure to the pound. Elsewhere, the French CAC 40 is up 0.4%, and the German DAX has tacked on 0.2% after final gross domestic product (GDP) data showed the eurozone's economic powerhouse dodging an official recession in the third quarter.

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