Earnings Season Highlights

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A collection of noteworthy post-earnings reactions
Published on Dec 11, 2019 at 9:21 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Opening View

Wall Street struggled to gain momentum yesterday, and today's price action could be more of the same. Dow Jones Industrial Average (DJI) futures are churning slightly below fair value, while S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) futures are signaling modestly higher opens. There's caution ahead of this afternoon's policy decision from the Fed, with rates largely expected to remain unchanged. Fed Chair Jerome Powell will also speak at 2:30 p.m. ET, and investors will be looking for clues about upcoming monetary policy. Elsewhere, November's consumer price index (CPI) rose 0.3%, greater than the expected 0.2% climb. 

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

  • Schaeffer's Senior Quantitative Analyst Rocky White gives the best stocks to end the decade.
  • Broadcom stock is set to test new highs.
  • Plus, GameStop sinks after earnings; C-suite shakeup at Dropbox; and Citron lashes out at Peloton.  

Stock Futures Chart Dec 11

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw 841,582 call contracts traded on Tuesday, compared to 643,178 put contracts. The single-session equity put/call ratio climbed to 0.76, while the 21-day moving average inched up to 0.60.
  2. GameStop Corp. (NYSE:GME) stock is down 19.2% in electronic trading, after the video game retailer reported an unexpected third-quarter loss and revenue that fell short of expectations. Same-store sales also came in below estimates, and the company cut its full-year profit forecast, prompting at least three price-target cuts. GME is set to erase all of its quarterly gain.
  3. Dropbox Inc (NASDAQ:DBX) stock is down 2.5% ahead of the bell, after the company announced Chief Customer Officer Yamini Rangan will step down, effective Jan. 3. DBX is set to open near its Aug. 15 record low of $17.20.
  4. The shares of Peloton Interactive Inc (NASDAQ:PTON) are down 1.9% before the bell, after Citron Research set its 2020 target price at $5 -- well below last night's close at $32.78. The notorious short seller said the bike maker has been "overly promotional," and has "all the makings of a compelling short." PTON has been in focus lately in the aftermath of the company's highly scrutinized holiday ad.
  5. Today also brings weekly crude inventories. American Eagle Outfitters (AEO), Children's Place (PLCE), Lululemon (LULU), Tailord Brands (TLRD), United Natural Foods (UNFI), and Vera Bradley (VRA) will report earnings.

Buzz Chart Dec 11

Asian Markets Climb; Cautious Trading in Europe

Stocks in Asia were mostly higher today. Starting in China, the Shanghai Composite managed a 0.2% win as investors considered a potential delay in tariffs from the U.S. The Hang Seng also climbed, ending up 0.8%. In South Korea, the Kospi settled up 0.4%, while Japan’s Nikkei was the lone loser, dipping 0.08%. 

Trading has been cautious so far today in Europe. Sunday’s tariff deadline, today’s Fed decision, and Thursday’s election in the U.K. are also giving investors pause, keeping the FTSE 100 and French CAC 40 near breakeven. The DAX in Germany has managed to break free a bit, however, rising 0.4%. 

Published on Dec 11, 2019 at 11:54 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Midday Market Check

While the Nasdaq Composite (IXIC) and S&P 500 Index (SPX) follow this week's flat trading action, the Dow Jones Industrial Average (DJI) is underperforming due to weakness in Boeing (BA) and Home Depot (HD) shares. Semiconductor stocks in particular have been a strong point today, though traders have mostly stayed on the sidelines ahead of this afternoon's Fed decision and, maybe more importantly, Chair Jerome Powell's press conference.

midday stats dec 11

One name seeing unusual options trading is Monster Beverage Corp (NASDAQ:MNST). The beverage stock is trading up 1.1% at $62.20, extending its recent run higher, and some traders seem to be speculating on more upside. Call volume is already at four times the daily average, due to new positions being opened at the December 63 call. Anyone buying the contract is expecting MNST shares to push above $63 before the options expire next Friday, Dec. 20.

One of the best stocks today is Ollie's Bargain Outlet Holdings Inc (NASDAQ:OLLI), as the shares try to battle out of 52-week-low territory, with today's 16.9% surge putting them at $70.46, on pace for the highest close since August's bear gap. The retailer last evening reported third-quarter results that surpassed expectations.

One of the worst stocks today is Columbus McKinnon Corp. (NASDAQ:CMCO), last seen down 10% at $37.99. The company surprised investors with news its CEO Mark Morelli will resign in January. At the same time, CMCO shares are still up more than 25% year-to-date, and seem to be finding support today from the 200-day moving average.

CMCO stock dec 11

Published on Dec 11, 2019 at 4:32 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Market Recap

The Dow waffled again today, eventually settling in positive territory, as Wall Street kept its eye on the Fed meeting. The central bank as expected said it would hold interest rates steady for the time being, hinting that no changes in monetary policy may be needed for some time given how low inflation has remained. While the Nasdaq managed to outperform on strength from chip stocks, the S&P mostly followed the Dow's lead, trading flat for most of the session.

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

  • The blue chip stock traders might want to target before the year's end. 
  • What options players are saying about this retailer ahead of earnings 
  • Plus, STMP stock could keep surging; behind FTSV stock's impressive rally; and MA stock gets a bull note. 

The Dow Jones Industrial Average (DJI - 27,911.30) added 29.6 points, or 0.1%. Of the 30 blue chips.14 ended higher, with United Tech (UTX) in the lead with a 1.3% pop, while Home Depot sank to the bottom on a 1.8% drop.

The S&P 500 Index (SPX - 3,141.63) settled 9.1 points, or 0.3% higher, while the Nasdaq Composite (IXIC - 8,654.05) tacked on 37.9 points, or 0.4%. 

The Cboe Volatility Index (VIX - 14.99) slipped 0.7 point, or 4.4%. 

Closing Indexes Summary Dec 11

NYSE and Nasdaq Stats Dec 11

5 Items on Our Radar Today

  1. Twitter (TWTR) CEO Jack Dorsey just announced a new research team, Bluesky, which he says will work towards an "open and decentralized standard for social media." He hopes the team of five will be able to address some of the site's current issues and create open channels of communication, no matter what the network. (CNBC)
  2. A blog post from YouTube's vice president for trust and safety today outlined a stricter anti-harassment policy, which will include updated methods in which to flag comments deemed as harassment, and more serious consequences for those who continue to engage in these types of bullying behavior. (MarketWatch)
  3. 3 reasons to love Stamps.com stock right now. 
  4. Behind one pharma stock's unbelievable two-month rally
  5. The bull note that gave Mastercard stock a boost today. 

Corporate Earnings Dec 11

Unusual Options Activity Dec 11

Oil Sinks on Surprise Crude Inventory Build

A bigger-than-expected spike in weekly U.S. crude inventories knocked oil prices lower today. January-dated crude futures lost 48 cents, or 0.8%, to settle at $58.76 per barrel.  

Gold prices explored both sides of breakeven as investors eyed today's Fed meeting results, before eventually settling higher, as the U.S. dollar cooled. February gold futures added $6.90, or 0.5% to settle at $1,475 an ounce. 

Published on Dec 12, 2019 at 9:23 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Opening View

After the Fed kept interest rates steady yesterday, stock futures are drifting lower this morning. Dow Jones Industrial Average (DJI)S&P 500 Index (SPX), and Nasdaq-100 Index (NDX) futures are all signaling slightly lower opens, as investors turn their eyes away from the Fed and back to U.S.-China trade drama. Reports indicate President Donald Trump will meet with his top trade advisors today as the Dec. 15 deadline for additional U.S. tariffs on more Chinese goods looms. Elsewhere, the producer price index came in flat for November, lower than the expected 0.2% increase, while weekly jobless claims jumped to a two-year high last week. 

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

  • 3 reasons we're targeting a triple for Stamps.com.
  • Mastercard stock picked up a big bull note yesterday.
  • Plus, GE upgraded; LULU dinged after weak guidance; and Delta ups profit forecast.  

Stock Futures Chart Dec 12

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw 1.05 million call contracts traded on Wednesday, compared to 552,622 put contracts. The single-session equity put/call ratio slipped to 0.52, while the 21-day moving average fell to 0.59.
  2. General Electric Company (NYSE:GE) stock is up 3.6% in electronic trading, after receiving an upgrade to "buy" from "neutral" at UBS. While also upping its price target to $14 from $11.50, the analyst in coverage sees better industrial cash flow creating a positive inflection point in 2020. GE is up 50% year-to-date, and call traders have been targeting the stock.
  3. Lululemon Athletica Inc (NASDAQ:LULU) stock is down 3.3% ahead of the bell today. Despite the athleisure retailer reporting third-quarter earnings and revenue that topped forecasts, its current-quarter guidance was far below expectations. That hasn't stopped nine brokerages from upping their price targets, though, including Susquehanna to $260. 
  4. The shares of Delta Air Lines, Inc. (NYSE:DAL) are up 2.1% before the open, after the airliner upped its 2020 profit forecast. The company also announced an equity stake in private jet airliner Wheels Up. Delta stock is currently holding above the $55 area, also home to its 10% year-to-date level. 
  5. Taking a turn in the earnings confessional will be Broadcom (AVGO), Ciena (CIEN), Costco (COST), and Oracle (ORCL).

Buzz Chart Dec 12

Asian Markets React to Fed News; Europe Eyes U.K. Elections

Stocks in Asia were mostly higher after the Fed decision in the U.S. However, China’s Shanghai Composite snapped its five-day win streak with a 0.3% loss. Among the winners, the Kospi in South Korea had the best day grabbing a 1.5% win, while Hong Kong’s Hang Seng wasn’t far behind with its 1.3% gain. Japan’s Nikkei also rose, adding 0.1%. 

In Europe, shares are mostly struggling for upside today, though London’s FTSE 100 is outperforming with a 0.4% gain. Traders are watching the general elections in the U.K., while European Central Bank (ECB) President Christine Lagarde will also give her first press conference in the role after the central bank left rates unchanged. Elsewhere, the French CAC 40 is down 0.08%, and the DAX in Germany has dipped 0.05%. 

Published on Dec 12, 2019 at 12:02 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Midday Market Check

Stocks are spiking today thanks to bullish trade developments. First, President Donald Trump tweeted that the U.S. and China were "VERY close" to a "BIG DEAL," and fresh reports suggest the Trump administration is willing to cut existing tariffs on China along with canceling Sunday's deadline for more tariffs. The Dow Jones Industrial Average (DJI) is sporting a triple-digit lead at the halfway point as a result, while the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also on the rise. As such, not much attention has been paid to this morning's two-year high in initial jobless claims.

midday market stats dec 12

One name seeing unusual options trading is Autodesk, Inc. (NASDAQ:ADSK). The stock is down 1.4% at $177.13, just a few days after its all-time peak of $181.55, and call and put volume are both running hot. There's been heavy trading at the December 190 call, which was home to peak open interest coming into today, while put traders are opening positions at the January 2020 175-strike put.

One of the best stocks today is Ciena Corporation (NYSE:CIEN), with the shares overcoming pre-market losses to jump 13.6% to $40.24, despite a fourth-quarter profit miss. This has CIEN above its 80-and 200-day moving averages -- and maybe more importantly -- the $40 level, which has been both support and resistance in the past year.

cien stock dec 12

One of the worst stocks today is customization furniture specialist Lovesac Co (NASDAQ:LOVE), down 12.3% at $12.72 on the company's bigger-than-expected quarterly loss. The shares earlier touched an all-time low of $12.36, and their six-month decline is now 58%. Interestingly, all four analysts in coverage have "strong buy" ratings.

Published on Dec 12, 2019 at 4:34 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Market Recap

The Dow shot up to a new high in early action, as Wall Street excitedly eyed trade developments between the U.S. and China. Today's events were initially sparked by a tweet from President Donald Trump that a trade deal was close, which was then followed by a report that U.S. negotiators have drawn up the terms of a "phase one" trade deal, which is pending Trump's approval. Against this backdrop, the S&P and Nasdaq also clocked record highs in intraday action, with all three indexes erasing their week-to-date deficits.

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

  • One bull is targeting a massive rally for gold.
  • The rare upgrade that gave this former Dow stock a leg up. 
  • Plus, Canopy launches CBD brand; bears blast ORCL stock; and EA stock runs into trouble. 

The Dow Jones Industrial Average (DJI - 28,132.05) added 220.8 points, or 0.8%. Of the 30 blue chips, 27 ended higher, with Cisco Systems (CSCO) in the lead with a 3.1% pop, while Boeing (BA) sank to the bottom on a 1.1% drop.

The S&P 500 Index (SPX - 3,168.57) settled 26.9 points, or 0.9% higher, while the Nasdaq Composite (IXIC - 8,717.32) tacked on 63.3 points, or 0.7%. 

The Cboe Volatility Index (VIX - 13.94) slipped 1.1 points, or 7%. 

Closing Indexes Summary Dec 12

NYSE and Nasdaq Stats Dec 12

5 Items on Our Radar Today

  1. Facebook (FB) is under fire yet again, after reports came out that the Federal Trade Commission (FTC) is mulling a preliminary injunction that would bar the social media giant from controlling the way certain apps, including WhatsApp and Instagram, interact with one another and potential competitors. (CNBC)
  2. Amazon (AMZN) just announced its calendar cutoff dates, for those looking to get in some last-minute shopping on the e-commerce giant. One option allows Amazon Prime members to order on Dec. 24, and receive their package on Christmas Eve. (MarketWatch)
  3. The rebounding pot stock getting buzz after a CBD line launch. 
  4. Behind the wild options trading surrounding ORCL stock ahead of earnings. 
  5. Why it might be game over for EA stock's recent rally. 

Corporate Earnings Dec 12

Unusual Options Activity Dec 12

Oil Pops on Trump Tweet, Saudi Aramco IPO

President Trump's optimistic tweet on trade, paired with the well-received initial public offering (IPO) of Saudi Arabia's oil refinery Saudi Aramco helped buoy oil prices today. January-dated crude futures added 42 cents, or 0.7%, to settle at $59.18 per barrel.  

Gold prices slid lower today as increasing optimism over the U.S.-China trade situation has investors shunning the commodity in favor of stocks. February gold futures shed $2.70, or 0.2% to settle at $1,472.30 an ounce. 

Published on Dec 13, 2019 at 9:23 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Opening View

Fresh off reports of a "phase one" trade deal being drawn up, Dow Jones Industrial Average (DJI)S&P 500 Index (SPX), and Nasdaq-100 Index (NDX) futures are confidently higher today. But while Bloomberg reported that the U.S. and China agreed to a limited deal that would scrap additional U.S. tariffs set to go into effect this Sunday, Dec. 15, and reduce current tariffs, Chinese state media has yet to confirm any such thing. Instead, Chinese officials will hold a press conference this morning to discuss "relevant progress." Elsewhere, November retail sales rose by 0.2%, falling short of the 0.5% rise economists were expecting. 

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

  • All signs point to an Intel stock rally.
  • It could be game over for Electronic Arts stock.
  • Plus, bull notes galore for Adobe after earnings; SRPT gets big FDA win; and SNAP upgraded.  

SDB Sectors Dec 13

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw 1.4 million call contracts traded on Thursday, compared to 628,085 put contracts. The single-session equity put/call ratio slipped to 0.45 -- its lowest level since 2014 -- while the 21-day moving average stayed at 0.59.
  2. Adobe Inc (NASDAQ:ADBE) stock is up 2.6% ahead of the bell, after the software icon reported fiscal fourth-quarter earnings and revenue that topped analyst forecasts. So far, 12 brokerages upped their price targets, the highest coming from Jefferies to $370. ADBE is set to blow past its July 19 record high of $313.11.
  3. Sarepta Therapeutics Inc (NASDAQ:SRPT) stock is up 29% in electronic trading, after the Food and Drug Administration (FDA) approved the drugmaker's treatment for Duchenne Muscular Dystrophy (DMD). SRPT is set to fill its mid-August bear gap today, with its recent pullback contained by its 30-day moving average.
  4. The shares of Snap Inc (NYSE:SNAP) are up 2.5% before the open, receiving an upgrade from JMP Securities to "outperform" from "market perform." The analyst in coverage is optimistic the social media name can grow its user base. SNAP has more than doubled in 2019, yet the majority of analysts remain on the sidelines.
  5. Today's a busy day on the economic front, with business inventories and import prices on the schedule. Plus, New York Fed President John Williams will speak. There are no notable earnings slated.

Buzz Chart Dec 13

Asian Markets Break Out Amid Deal Reports; Europe Unpacks U.K. Election

Stocks in Asia jumped overnight on reports of a phase one trade deal between the U.S. and China. The Nikkei and Hang Seng both jumped 2.6% while the Shanghai Composite in China rose 1.8%. South Korea’s Kospi also snagged a win, rising 1.5%. All this came despite no confirmation on a deal out of China.

Traders in Europe are also responding bullishly to the trade buzz, along with a convincing victory for the Conservative Party in the U.K. general election. London’s FTSE 100 is rallying 1.7% on the news, while the French CAC 40 and German DAX both sport gains of 0.8%. 

 

Published on Dec 13, 2019 at 12:04 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Midday Market Check

Stocks are lower today despite the U.S. and China agreeing to a phase one trade deal. Details from the deal -- which still needs to be signed -- include the Trump administration rolling back some of the existing tariffs on China, while China plans to increase agricultural purchases from the U.S. The Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) hit record highs early on, but all three indexes have since turned lower.

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

  • 2 chip stocks in focus today.
  • Why an analyst thinks Snap can go higher.
  • Plus, Dow stock sees short-term options trading; tech stock jumps on Apple rumors; and Nextgen Healthcare hit again. 

midday market stats dec 13

One name seeing unusual options trading is UnitedHealth Group Inc (NYSE:UNH), as the stock earlier hit an annual high of $287.81, up 0.7% on the day. Calls and puts are both crossing at an accelerated rate; there are new positions opening at the weekly 12/13 290-strike call, with some traders possibly betting on more upside through today's close when the contracts expire. New positions are also opening at the weekly 12/13 285-strike put.

One of the best stocks today is Synaptics, Incorporated (NASDAQ:SYNA), getting a boost after Susquehanna suggested the company could have won a contract with Apple (AAPL). SYNA was last seen up 9.1% at $64.73, already hitting a three-year high of $65.49. The shares have more than doubled in the past six months.

One of the worst stocks today is Nextgen Healthcare Inc (NASDAQ:NXGN), as the shares extend yesterday's sell-off, sparked by the company's announcement that it's buying OTTO Health. The healthcare technology stock is down 11.7% today at $14.85, with Deutsche Bank's price-target cut to $12 applying additional pressure.

nxgn stock dec 13

 

Published on Dec 13, 2019 at 4:35 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Market Recap

The Dow cooled off today, following Thursday's big win, despite headlines that the U.S. and China agreed to a "phase one" trade deal. The agreement, which will ease back some U.S. tariffs on Chinese goods, and boost Beijing's purchases of U.S. agricultural products, left Wall Street unimpressed however, as many felt the details of the deal were too mild. The S&P and Nasdaq also remained flat for most of the day, though all three indexes notched gains for the week.

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

  • Why this drug stock surged 31%.
  • Bulls bombarded this software stock after earnings. 
  • Plus, SNAP snags a bull note; analysts chime in on 2 chip stocks; and AVGO enters the earnings confessional. 

The Dow Jones Industrial Average (DJI - 28,135.38) added 3.3 points, or 0.01%, and added 0.4% for the week. Of the 30 blue chips, 16 ended higher. American Express (AXP) topped the list on a 1.7% pop, while Dow Inc (DOW) fell to the bottom, shedding 2.1%.

The S&P 500 Index (SPX - 3,168.80) settled 0.2 point, or 0.01% higher, but added 0.7% for the week, while the Nasdaq Composite (IXIC - 8,734.88) tacked on 17.6 points, or 0.2%, with a 0.9% pop for the week. 

The Cboe Volatility Index (VIX - 12.63) slipped 1.3 points, or 9.4%, and lost 7.3% for the week. 

Closing Indexes Summary Dec 13

NYSE and Nasdaq Stats Dec 13

5 Items on Our Radar Today

  1. General Motors (GM) announced today that it will be investing $1.5 billion in its Chevrolet Colorado and GMC Canyon midsize pickup trucks. Breaking it down, $1 billion will be put into its Wentzville truck plant in Missouri and $500 million will be used for retooling its suppliers' factories.  (CNBC)
  2. Wireless concern AT&T (T) is set to hike its quarterly dividend by 2% to 52 cents per share, and will be payable Feb. 3 to shareholders on record as of Jan. 10. The firm also said it will be retiring approximately $100 million of stock during the first quarter of next year.  (MarketWatch)
  3. JMP Securities thinks this social media stock could surge 38%. 
  4. 2 chip stocks snatching up bull notes today. 
  5. Behind Broadcom stock's post-earnings tumble. 

Corporate Earnings Dec 13

Unusual Options Activity Dec 13

Oil Keeps Rising on Trade Headlines 

Oil prices kept rising today to settle above the psychologically significant $60 per-barrel level, as Wall Street eyed U.S.-China trade headlines. January-dated crude futures added 89 cents, or 1.5%, to settle at $60.07 per barrel, and notched a 1.5% weekly gain.

A weakening dollar helped boost the price of gold today, which also grabbed a gain for the week. February gold futures added $8.90, or 0.6%, to settle at $1,481.20 an ounce. For the week, gold tacked on 1.1%. 

Published on Dec 10, 2019 at 4:30 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Market Recap

The Dow explored a 145-point trading range today, before settling south of breakeven, as Wall Street proceeded with caution ahead the Dec. 15 deadline when the U.S. is expected to lift tariffs on some Chinese goods. A report from The Wall Street Journal indicated that these looming tariffs could be delayed, even as separate headlines suggested a phase-one trade deal between the two sides may not be reached this week. Elsewhere, traders eyed the start of the Fed's two-day policy meeting, which kicked off today, though the central bank is expected to hold steady on interest rates. 

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

  • This pharma stock's rally could have legs, if history is any indicator. 
  • Options bulls see a strong finish to 2019 for Comcast stock. 
  •  Plus, INFO could head even higher; this FAANG stock was downgraded again; and SFIX enters the earnings arena. 

The Dow Jones Industrial Average (DJI - 27,881.72) lost 27.9 points, or 0.1%. Fifteen out of the 30 blue chips ended higher. UnitedHealth (UNH) paced the winners with a 0.7% pop, while 3M (MMM) sunk to the bottom of the barrel on a 1.3% drop.

The S&P 500 Index (SPX - 3,132.52) fell roughly 3.4 points, or 0.1%, while the Nasdaq Composite (IXIC - 8,616.18) shed 5.6 points, or 0.07%. 

The Cboe Volatility Index (VIX - 15.68) slipped 0.2 point, or 1.1%. 

Closing Indexes Summary Dec 10

NYSE and Nasdaq Stats Dec 10

5 Items on Our Radar Today

  1. Boeing (BA) announced a monthly rise in orders for its 737 Max airplanes for the first time since January, including two orders for 30 of the heavily scrutinized jets last month. This comes after the 737 Max jets were grounded earlier this year following a pair of fatal crashes, resulting in 84 lost orders so far in 2019. (CNBC)
  2. Exxon Mobil (XOM) was cleared of charges brought against it by the state of New York, which accused the oil company of misleading investors on the cost of climate change regulations, causing them to lose $1.6 billion. The firm called the investigation "baseless," with spokesperson Casey Norton adding that "we provided our investors with accurate information on the risks of climate change." (Reuters)
  3. The analytics name that could clock its 12th straight monthly win
  4. Put traders bombarded this FAANG stock after yet another downgrade. 
  5. How SFIX stock fared after today's earnings report. 

Corporate Earnings Dec 10

Unusual Options Activity Dec 10

Gold Gains as Dollar Cools

Oil eked out a win today, as traders eyed conflicting U.S.-China trade headlines. January-dated crude futures added 22 cents, or 0.4%, to settle at $59.24 per barrel.  

Gold prices closed higher as the U.S. dollar cooled. February gold futures added $3.20, or 0.2% to settle at $1,468.10 an ounce. 

Published on Dec 16, 2019 at 9:23 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Opening View

With the "phase one" trade deal details now out in the open, Dow Jones Industrial Average (DJI) futures are signaling a strong start the last full trading week of 2019. Over the weekend, U.S. Trade Representative Robert Lighthizer said in an interview that the deal with China was "totally done," and is expected to be signed in January. Dow futures would be higher, were it not for a big drop from blue chip Boeing (BA), after the Wall Street Journal reported the aerospace company was considering scaling back or ending production of its grounded 737 Max aircraft. 

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

  • Options bears piled on this drug stock rally.
  • Behind Broadcom's post-earnings flop.
  • Plus, Horizon Therapeutics gets great news; Urban Outfitters downgraded; and more trouble for PG&E.  

Stock Futures Chart Dec 16

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw 1.2 million call contracts traded on Friday, compared to 679,551 put contracts. The single-session equity put/call ratio rose to 0.55, while the 21-day moving average stayed at 0.59.
  2. Horizon Therapeutics PLC (NASDAQ:HZNP) stock is up 8.3% in electronic trading, after an independent advisory committee for the Food and Drug Administration (FDA) voted to approve the company's treatment for thyroid eye disease drug. The FDA's official decision is expected to come in March. Four analysts have hiked their price targets in response, and HZNP is set to open at its highest point in four years.
  3. Urban Outfitters, Inc. (NASDAQ:URBN) stock is down 1.2% ahead of the bell, after Loop Capital cut its rating to "hold" from "buy" on intensifying promotional competition. URBN is down 20%  year-to-date, and last month gapped lower in the wake of a subpar quarterly report.  
  4. The shares of PG&E Corporation (NYSE:PCG) are down 25.8% before the bell, after California Governor Gavin Newsom rejected the utility company's bankruptcy reorganization plan. PCG was up 50% in December going into today.
  5. The IHS Markit flash composite purchasing managers index (PMI) will debut today, alongside the National Association of Home Builders (NAHB) housing market index and Empire State manufacturing index. The earnings slate is bare.

Buzz Chart Dec 16

Upbeat Economic Data out of China; London's FTSE 100 Roars

There was mixed trading in Asia overnight, as investors monitored the trade agreement between the U.S. and China, along with data out of the latter country. Specifically, China’s industrial output and retail sales were better than expected for November, helping the Shanghai Composite rise 0.6% to its highest close since early November. However, it was the lone index to grab a win in the region, with the Hang Seng dropping 0.7%, the Nikkei falling 0.3%, and the Kospi closing down 0.1%. 

Stocks in Europe, meanwhile, are shooting higher again, led by another big day from FTSE 100, following last week’s election in the U.K. The London-based index has jumped 2.3% higher so far, trading at its highest point since early August. France’s CAC 40 is following close behind with a 1.1% rise, and Germany’s DAX is up 0.7%. 



Published on Dec 16, 2019 at 12:02 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Midday Market Check

U.S. stocks are rallying to all-time highs today, as investors continue to buy on news of the trade deal with China. The Dow Jones Industrial Average (DJI) is deep into triple-digit territory despite the sharp selling on Boeing (BA), while tech shares are pushing the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) to strong leads as well. Meanwhile, oil prices are also on the rise, with January-dated crude futures gaining 3% to $60.25 per barrel.

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

  • Double upgrade keeps tobacco stock hot.
  • FDA decision sparks AMRN call trading.
  • Plus, UBER bulls bite on India buzz; construction stock surges higher; and retailer keeps sliding on holiday fears.

midday market stats dec 16

One name seeing unusual options trading is Uber Technologies Inc (NYSE:UBER). Short-term call traders are targeting the ride-hailing specialist, with new positions opening at the December 30.50 call, which expires on Friday. Roughly 12,500 of these contracts have traded today, compared to fewer than 5,000 at the next-most-popular strike. UBER stock is spiking today on reports the company could sell its UberEats India business.

One of the best stocks today is Granite Construction Inc. (NYSE:GVA). Last Thursday the company announced that it won a $16 million project in Illinois, and on Friday there was news the stock was switching places in the S&P 400 MidCap Index (MID) with Arrowhead Pharmaceuticals (ARWR). Regardless, the shares are up 8.6% today at $28.47, on pace for the best close since October.

One of the worst stocks today is Canada Goose Inc (NYSE:GOOS), extending Friday's selling due to talk of a heavily discounted holiday season from the retailer. This comes after the company lowered its sales outlook just a month ago. GOOS shares were last seen 3% lower at $37.71.

goos stock dec 16

 

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