Earnings Season Highlights

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A collection of noteworthy post-earnings reactions
Published on Jan 7, 2020 at 9:10 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Opening View

U.S. stock futures are mixed this morning, as the Dow Jones Industrial Average (DJI) will try to again shrug off the lingering tensions around Iran. Outside of this, traders are considering a bigger-than-expected decline in the U.S. trade deficit for November, with more economic data due out shortly after the open. With little else on today's calendar, however, futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are pointing to a mostly flat open.

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

US stock futures jan 7

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw 1.21 million call contracts traded on Monday, compared to 603,208 put contracts. The single-session equity put/call ratio moved down to 0.54, while the 21-day moving average was 0.55.
  2. RBC yesterday named Salesforce.com (CRM) a top pick in the software space, and last evening said Pfizer Inc. (NYSE:PFE) was its top pick among large-cap pharma stocks. The brokerage firm set a $46 price target, and PFE shares closed yesterday at $38.88.
  3. The shares of Pier 1 Imports Inc (NYSE:PIR) are down 15% before the open, on news the company is closing about half its stores and has drafted bankruptcy plans. PIR stock was already down 40% on a year-over-year basis, and could hit record lows today.
  4. There's a lot of self-driving car buzz coming out of this year's CES event, including from Intel Corporation (NASDAQ:INTC) and Sony Corp (NYSE:SNE). The former company released a video of its Mobileye autonomous vehicle driving through Jerusalem for 20 minutes, while the latter revealed plans for an electric concept car featuring various Sony technology that it will test later this year.
  5. Today will bring the Institute for Supply Management's (ISM) non-manufacturing index, weekly crude inventories, and factory orders. AngioDynamics (ANGO) will step into the earnings confessional.

Buzz Chart Jan 7

Overseas Stocks Mostly Higher

Stocks in Asia made outsized gains across the board. Japan's Nikkei paced the region with a 1.6% win on the strength of the auto and tech sectors. Tech stocks also boosted South Korea's Kospi by 1%, while China's Shanghai Composite and Hong Kong's Hang Seng added 0.7% and 0.3%, respectively.

Over in Europe, markets are trading higher, as concerns in the Middle East over U.S.-Iran relations eased for the time being. London's FTSE 100 is up 0.2% at last check, with retailer Marks & Spencer a big riser and automaker Aston Martin a notable laggard after a profit warning. The French CAC 40 is up 0.4% and the German DAX is 0.9% higher.

Published on Jan 7, 2020 at 12:04 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Midday Market Check

Today's better-than-expected U.S. services data from the Institute for Supply Management (ISM) has done little to move stocks, as investor focus remains glued to bubbling geopolitical tensions between the U.S. and the Middle East. The Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) are both modestly lower at midday, while the Nasdaq Composite (IXIC) is just atop breakeven. Even gold prices are little changed after touching fresh highs yesterday, with February-dated gold futures last seen up 0.1% at $1,570.10 an ounce.

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

  • The cybersecurity stock that could benefit from Middle East tensions. 
  • How Apache stock just toppled this key trendline
  • Plus, bulls like surging Cleveland-Cliffs stock; APOP doubles on patent news; PIR stock stumbles amid store closures.   

market stats jan 7

Cleveland-Cliffs Inc (NYSE:CLF) is seeing unusual options activity today with over 46,000 calls and 5,806 puts across the tape so far -- five times the average intraday volume. The most popular contract by a mile is the weekly 2/7 9-strike call, where positions are being bought to open, as bulls bet on upside in the coming weeks. The stock is up 3.6% to trade at $8.07. 

Cellect Biotechnology Ltd (NASDAQ:APOP) is a top performer on the Nasdaq today, following news that the Israel-based stem cell therapy concern's production method just received "intention to grant" patents from the European Patent Office and the Israeli Intellectual Property office. The shares have more than doubled in response, up 113.3% at $5.14, eyeing their first close atop the 200-day moving average since Feb. 2018. 

APOP Jan 7

The worst stock on the New York Stock Exchange so far is Pier 1 Imports Inc (NYSE:PIR), which is off 20.5% to trade at $4.06, pacing for its biggest one-day percentage drop since June, after announcing the closure of half its stores. The home goods retailer will also be cutting jobs and cast doubts on its ability to continue as a going concern. The security is also pacing for its lowest close in over four months. 
Published on Jan 6, 2020 at 4:28 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Market Recap

The Dow finished higher to kick off the week, as Wall Street monitored rising tensions between the U.S. and Iran. The blue-chip index chipped away at a 216-point deficit to break into positive territory, while the S&P 500 and Nasdaq both finished higher amid outsized gains from the tech sector. Elsewhere, Wall Street's "fear gauge," the Cboe Volatility Index (VIX), earlier touched its highest point since Dec. 10, before settling lower on the day.

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

  • These 3 stocks saw red-hot options trading today.
  • Micron options are cheap as the chip stock flashes a bullish signal.
  • Plus, why we're watching Nordstrom; breaking down SmileDirectClub's big day; and a Lennar earnings preview. 

The Dow Jones Industrial Average (DJI - 28,703.38) added 68.5 points, or 0.2%. McDonald's (MCD) paced the 15 winners with a 1.1% win, while Walt Disney (DIS) led the laggards with a 0.6% drop..

The S&P 500 Index (SPX - 3,246.28) gained 11.4 points, or 0.4%, while the Nasdaq Composite (IXIC - 9,071.47) finished 50.7 points, or 0.6%, higher.

The Cboe Volatility Index (VIX - 13.85) lost 0.2 point, or 1.2%.

closing stock market summary jan 6

nyse and nasdaq stats jan 6

5 Items on Our Radar Today

  1. In the latest development of President Donald Trump's impeachment trial, former national security advisor John Bolton said he would testify if subpoenaed by the Senate. Bolton left the Trump administration back in September, but was vocally supportive of the decision to authorize the airstrike that killed top Iranian General Qassem Soleimani. (CNBC)
  2. Rescue efforts continue in Australia, where wildfires have spread across 19.8 million acres, killing 25 people and displacing thousands. Officials say the fires could return next week. (Reuters)
  3. An upgrade and bull signal had Nordstom stock in focus today.
  4. 2 headlines that powered SmileDirectClub stock's breakout.
  5. Options traders are gearing up for Lennar earnings.

corporate earnings jan 6

unusual options volume jan 6

Data courtesy of Trade-Alert

Nine Straight for Gold 

Oil extended its gains today, as concerns lingered over U.S.-Iran tensions disrupting global oil supplies. February-dated crude futures added 22 cents, or 0.4%, to end at $63.27 per barrel, the highest settlement since May.

Gold made it a whopping nine straight wins today, as investors continued to flock to safe-haven assets. February gold futures settled up $16.40, or 1.1%, to end at $1,568.80 an ounce, its highest close since April 2013.

Published on Jan 7, 2020 at 4:33 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Market Recap

The Dow turned in a triple-digit loss today, as rough outings from Merck (MRK) and Chevron (CVX) overshadowed upbeat U.S. services data. The blue-chip index pared a wider triple-digit deficit, though, amid fewer headlines regarding U.S.-Iran tensions. The S&P 500 and Nasdaq joined the Dow in the red, with the latter giving up last-minute gains despite a strong push higher from the semiconductor sector.

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

  • This blue chip kicks off earnings season tomorrow.
  • Call traders hammered this surging chip stock.
  • Plus, Tesla stock cannot be stopped; a cybersecurity stock to watch; and trouble for PIR. 

The Dow Jones Industrial Average (DJI - 28,583.68) lost 119.7 points, or 0.4%. Boeing (BA) paced the six winners with a 1.1% win, while MRK led the 24 losers with a 2.7% drop.

The S&P 500 Index (SPX - 3,237.18) lost 9.1 points, or 0.3%, while the Nasdaq Composite (IXIC - 9,068.58) finished 2.9 points lower.

The Cboe Volatility Index (VIX - 13.79) lost 0.06 point, or 0.4%.

closing indexes summary jan 7

nyse and nasdaq stats jan 7

5 Items on Our Radar Today

  1. U.S. mortgage rates for a 30-year fixed mortgage fell last week. The average rate dropped to 3.69%, the lowest since October, signaling a housing market that could be heating up to start 2020. A monthly survey from Fannie Mae also indicated December buyer sentiment was high. (CNBC)
  2. A study shows that U.S. greenhouse emissions fell last year by 2.1%, as coal-fired electricity output plunged 18% to a 44-year low. However, the study also warned that additional declines will not occur without rapid policy changes. (Reuters)
  3. Tesla stock cannot be stopped.
  4. This cybersecurity stock could actually benefit from Middle East tensions.
  5. Pier 1 Imports is shuttering half of its stores.

corporate earnings jan 7

unusual options activity january 7

Data courtesy of Trade-Alert

Gold Logs 10th Straight

Oil took a breather today, snapping a three-day winning streak, as the risk of supply disruptions amid heightened Middle East tensions cooled. February-dated crude futures shed 57 cents, or 0.9%, to end at $62.70 per barrel.

Gold logged its 10th straight win today, its best winning streak in two years. February gold futures settled up $5.50, or 0.4%, to end at $1,574.30 an ounce, its highest close since April 2013.


Published on Jan 8, 2020 at 9:30 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Opening View

U.S. stock futures are mixed this morning, as investors attempt to digest a slew of global and domestic headlines. Last night's report that a U.S. airbase came under fire in western Iraq sent overnight trading into a tailspin. Investor fears eased, however, as news surfaced that the attacks did not cause any casualties and no oil infrastructures were targeted. The ADP private payrolls data also came in higher than expected for December, with 202,000 new positions reported. On the flip side, Boeing (BA) is under heat once again, after a 737-800 model crashed minutes after take off in Tehran, leaving no survivors. In response, the Dow Jones Industrial Average (DJI) is signaling a lower open, while the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) cling to modest gains.

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

Futures Chart Jan 8

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw 1.3 million call contracts traded on Tuesday, compared to 580,154 put contracts. The single-session equity put/call ratio moved down to 0.44, while the 21-day moving average was 0.54.
  2. Verizon Communications Inc. (NYSE:VZ) is getting a boost after J.P. Morgan Securities lifted its price target on the telecommunications giant to $66 from $65. The stock is now up 0.3%, to trade at $59.80 in electronic trading. 
  3. The shares of Kroger Co (NYSE:KR) are inching lower after announcing that its Simple Truth brand will introduce plant-based burgers under a new line called Emerge, at prices lower than competitor Beyond Meat (BYND). The stock is down 0.5% to trade at $28.46 this morning. 
  4. Macy's Inc (NYSE:M) stock is surging after the company announced a lower-than-expected decline of 0.6% in same-store sales for its holiday quarter. The stock is up nearly 4% to trade at $18.32 in response. 
  5. MBA mortgage applications are due out, as well as data on consumer credit. It will be a busy day for earnings, too, with BBBY, Constellation Brands, Helen of Troy (HELE), and UniFirst (UNF) all set to roll out their quarterly reports.

Buzz Chart Jan 8

U.S.-Iran Tensions Send Asian Markets Lower

Iran's retaliation against the U.S. sent markets in Asia lower across the board. Japan's Nikkei lost 1.6% after trading more than 2% lower at its session lows, as Japanese Prime Minister Shinzo Abe reportedly canceled a scheduled weekend trip to the Middle East. China's Shanghai Composite and Hong Kong's Hang Seng gave back 1.2% and 0.8%, respectively, while South Korea's Kospi closed down 1.1%.

Meanwhile in Europe, stocks are inching higher, boosted by Ifo Institute data that showed eurozone economic growth will be 0.3% in the fourth quarter, up from 0.2% in the third quarter. London's FTSE 100 is flat despite rough outings from hospital chain NMC Health and grocery giant Sainsbury, with the latter pressured by a drop in same-store sales. The French CAC 40 is up 0.2%, while the German DAX is 0.3% higher, shaking off weaker-than-expected factory orders for November.

Published on Jan 9, 2020 at 9:26 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Opening View

U.S. stock futures are higher this morning, as investors digest comments from U.S. President Donald Trump that Iran "appears to be standing down," following the non-fatal ballistic missile attacks on two U.S. military bases in Iraq. Elsewhere, jobless claims fell for the fourth week in a row, despite unemployment rates continuing to roll higher. In response, futures on the Dow Jones Industrial Average (DJI)S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are all pacing toward a positive open.

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

Futures Chart Feb 9

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw 1.45 million call contracts traded on Tuesday, compared to 682,223 put contracts. The single-session equity put/call ratio moved up to 0.47, while the 21-day moving average remained at 0.54.
  2. Bed Bath & Beyond Inc (NASDAQ:BBBY) is down 12.4% this morning after posting a fiscal third-quarter loss of 38 cents, compared to analysts' estimated loss of 3 cents per share. BBBY also withdrew its full-year forecast and reported lower-than-expected revenue for the same quarter. 
  3. Costco Wholesale Corporation (NASDAQ:COST) this morning reported a 9% increase in comparable sales for December, which totaled to $17.04 billion in net sales. The stock is up 0.8% in response. 
  4. The shares of Coca-Cola Co (NYSE:KO) are up 1.2% after Credit Suisse upgraded the soda concern to "outperform" from "neutral." The analyst cited positive structural changes that could lead to growth in revenue and investment returns. 
  5.  A number of central bank leaders will take the proverbial podium today, including Fed Vice Chairman Richard Clarida, Chicago Fed President Charles Evans, and St. Louis Fed President James Bullard. Earnings announcements from Acuity Brands (AYI), AZZ (AZZ), KB Home, Synnex (SNX), and WD-40 (WDFC) are expected.

     

Buzz Chart Jan 9

Asian Markets See Lift on Diffused Geopolitical Risks 

Markets in Asia finished higher today, taking cues from President Trump's comments that Iran appeared to be "standing down," defusing geopolitical risk in the Middle East at least temporarily. Japan's Nikkei paced the region with a 2.3% gain, while South Korea's Kospi added 1.6%. Hong Kong's Hang Seng gained 1.7%, and China's Shanghai Composite tacked on 0.9% following reports Vice Premier Liu He will head to Washington next week to sign a phase-one trade deal with the U.S.

Over in Europe, stocks are in the process of advancing thanks to easing U.S.-Iran tensions and upbeat trade headlines. London's FTSE 100 is 0.4% higher at last check, although retailer Marks & Spencer is under pressure after cutting its guidance. The French CAC 40 is up 0.1%, while the German DAX is 1% higher thanks to German factory output that beat expectations.

Published on Jan 9, 2020 at 12:01 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Midday Market Check

The Dow Jones Industrial Average (DJI) and S&P 500 Index (SPX) are confidently higher at midday -- and earlier nabbed fresh record highs -- as investors shed some of their initial fears over the conflict between the U.S. and Iran. The tech-rich Nasdaq Composite (IXIC) also hit new highs after Advanced Micro Devices (AMD) got an upgrade from Mizuho, and data out of Reuters pointed to an 18% pop in iPhone sales in China during the month of December.

Meanwhile, February-dated gold futures are ebbing, down 0.7% to trade at $1,548 per ounce at last check, while oil for February delivery is trading back near their Jan. 3 levels prior to the U.S. drone strike, at $59.02 per barrel.

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

  • The pharma stock surging after a major allergy treatment breakthrough. 
  • Subpar holiday sales and a lowered Q4 forecast aren't fazing L Brands bulls
  • Plus, PINS stock pops on partnership; TRIL tops charts; and TUFN stock nosedives after revenue forecast. 

Midday Market Stats Jan 9th

A partnership between Pinterest Inc (NYSE:PINS) and SmartCommerce Click2Cart that will add digital shopping capabilities to its website has drawn an unusual amount of options activity to the tech stock today. Already 29,000 calls and 5,356 puts have exchanged hands -- five times what's typically seen at this point. The most active position by far is the weekly 1/10 20-strike call, where positions are being bought to open. PINS is pacing for its fourth consecutive win and its second-straight close atop its 50-day moving average since early September. At last check, the stock is up 1.5% to trade at $20.01. 

Pins Jan 9

Canadian drug developer Trillium Therapeutics Inc (NASDAQ:TRIL) is the top performer on the Nasdaq today by a wide margin, following well-received updates on the healthcare concern's TTI-621 and TTI-622 CD47 programs. The stock is up a whopping 116.1% to trade at $3.22, and earlier hit a new annual high of $3.43 earlier today. The stock is up 70% year-over-year, and traded as low as 24 cents on Oct. 31.  

Tufin Software Technologies Ltd (NYSE:TUFN) is one of the worst performing stocks on the New York Stock Exchange (NYSE) today, after the cybersecurity concern lowered its fourth-quarter revenue outlook and projected a wider operating loss than previously expected. At least five analysts have already issued price target cuts, the lowest coming from Stifel, which slashed its estimate to $15. TUFN was down 23.2% to trade at $13.22 at last check, and hit a record low of $11.70 earlier today. 
Published on Jan 9, 2020 at 4:29 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Market Recap

Stocks Surge as VIX Dips

by Patrick Martin

The Dow logged its second-straight triple-digit victory today with U.S.-Iraq tensions apparently in decline. The blue-chip index hit a new intraday record high, with Apple (AAPL) and Goldman Sachs (GS) leading the charge. The S&P 500 and Nasdaq joined the Dow in the black and logged record highs of their own, with a surging semiconductor sector powering the latter's gains. Elsewhere, Wall Street's "fear gauge," the Cboe Volatility Index (VIX), logged its fourth straight loss.

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

  • Options bulls and analysts blitzed Snap stock today.
  • Infosys picked up a bull note ahead of earnings.
  • Plus, a KB Home earnings preview; a new Street-high target for KO; and trouble for BBBY.

The Dow Jones Industrial Average (DJI - 28,956.90) added 211.8 points, or 0.7%. AAPL paced the 20 winners with a 2.1% win, while Walgreens Boots Alliance (WBA) fell to the bottom of the the 10 losers with a 2.1% drop.

The S&P 500 Index (SPX - 3,274.70) gained 21.7 points, or 0.7%, while the Nasdaq Composite (IXIC - 9,203.43) finished 74.2 points, or 0.8% higher.

The Cboe Volatility Index (VIX - 12.54) lost 0.9 point, or 6.8%.

Closing Indexes jan 9

NYSE and Nasdaq jan 9

5 Items on Our Radar Today

  1. Chinese Vice Premier Liu He is reportedly heading to Washington D.C. next week to sign "phase one" of the trade deal. While President Trump is suggesting that while negotiations for "phase two" of the deal will soon be underway, a signed agreement won't come until after the 2020 election in November. (MarketWatch)
  2. British Prime Minister Boris Johnson's Brexit bill took one step forward today, after it cleared the House of Commons with a 330 to 231 vote. The vote now heads to the upper House of Lords, with Johnson keen to finish the procedure and get the U.K. out of the European Union (EU) by the end of the month. (Bloomberg)
  3. KB Home calls were hot ahead of earnings.
  4. Coca-Cola stock landed a big upgrade from Credit Suisse.
  5. Bed Bath & Beyond options bears are getting in on the stock's post-earnings sell-off.

Corporate Earnings Jan 9

UVOL jan 9

Data courtesy of Trade-Alert

Oil, Gold Take a Breather

Oil inched fractionally lower today, essentially holding steady after yesterday's pullback of nearly 5%. February-dated crude futures lost five cents to end at $59.56 per barrel.

Gold also fell, logging back-to-back losses amid easing geopolitical tensions. February gold futures gave back $5.90, or 0.4%, to end at $1,554.30 an ounce.



Published on Jan 10, 2020 at 9:06 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Opening View

U.S. stock futures are pointing to a positive open this morning, though they've pared some gains after a downbeat jobs report. Specifically, the nonfarm payrolls report for December showed 145,000 jobs added, compared to economists' expectations of 160,000. As such, the Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq-100 Index (NDX) will need to overcome these headwinds to continue their push into record-high territory. Meanwhile, it's been another busy morning on the analyst front with a number of updates on big-name tech stocks, while investors are also considering M&A news out of the healthcare space.

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

US stock futures jan 10

5 Things You Need to Know Today

  1. The Cboe Options Exchange (CBOE) saw 1.49 million call contracts traded on Thursday, compared to 723,324 put contracts. The single-session equity put/call ratio moved up to 0.40, while the 21-day moving average was 0.53.
  2. Bullish brokerage attention could help Facebook, Inc. (NASDAQ:FB) touch new highs today. FB shares received a new "outperform" rating from Bernstein, along with a $250 price target, with the firm suggesting the company can unlock new advertising opportunities in Instagram and WhatsApp. The social media giant yesterday notched its highest-ever close at $218.30.
  3. One name seeing bearish analyst attention today is Foot Locker, Inc. (NYSE:FL), after Susquehanna dropped its rating to "neutral" from "positive," and moved its price target down to $41 from $47. FL shares have been struggling to overcome the $40 level recently, last seen at $38.54.
  4. On the M&A front, traders are digesting news that Eli Lilly and Co (NYSE:LLY) is buying Dermira Inc (NASDAQ:DERM) for $1.1 billion. This caps off a blistering rally in DERM shares, which were trader near $5 in mid-October before surging to yesterday's close of $18.34.
  5. Today's economic calendar will include nonfarm payrolls, the unemployment rate, and wholesale inventories. Infosys (INFY) will post its quarterly report before markets open, as well. 

     

Buzz Chart Jan 10

Apple Suppliers Lead Gainers in China

Markets in Asia were mostly higher, with Apple suppliers surging after a Reuters report showed iPhone sales in China rose more than 18% in December. Japan's Nikkei gained 0.5%, despite dismal full-year guidance from Fast Retailing yesterday. South Korea's Kospi paced the region with a 0.9% gain. Hong Kong's Hang Seng added 0.3%, but China's Shanghai Composite bucked the broad market trend and finished 0.1% lower.

In Europe, stocks are mixed at midday. Global market sentiment concerning the Middle East has improved, despite the reports that the Ukraine-bound flight leaving Tehran was shot down by Iran by mistake. London's FTSE 100 is off by 0.1%, unable to capitalize off a big day from airline stocks Ryanair, EasyJet, and IAG. The French CAC 40 is flat as protests for pension reform sweep the country. Meanwhile, the German DAX is 0.2% higher, with utility company RWE a notable winner.

Published on Jan 10, 2020 at 12:06 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Midday Market Check

The Dow Jones Industrial Average (DJI) just sliced past the 29,000 level for the first time on record before pulling back near breakeven, as weaker-than-expected employment data finally managed to impact the blue-chip index. The S&P 500 Index (SPX) and Nasdaq Composite (IXIC) have also pulled back from their intraday peaks, even though the geopolitical outlook remains positive, with traders eyeing next week's scheduled "phase one" trade deal signing between the U.S. and China.

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

  • The GrubHub drama drawing options bears to the food delivery stock. 
  • Analysts flock to URBN stock with bear notes after a dismal holiday sales report. 
  • Plus, TWLO calls pop; CPAH doubles on Honeywell partnership; and PTLA eyes worst day ever. 

midday market stats jan 10th

Twilio Inc (NYSE:TWLO) is seeing an unusual volume in options activity today. So far, 15,000 calls and 7,245 puts have exchanged hands, with much of this activity surrounding the January 2020 120-strike call. The weekly 115-strike contract is the most popular put, with positions being opened here. At last glance, TWLO is up 2.4% to trade at $115.72. 

Canada-based software developer CounterPath, Corp. (NASDAQ:CPAH) is one of the best performers on the Nasdaq today, following an announcement that the company is partnering with manufacturer Honeywell (HON) to create a United Communication software called Smart Talk, which will enable mobile workers to connect on their pre-owned devices. The stock hit a six-month high of $2.59 earlier today, and is now up 129.3% to trade at $2.27, pacing for its biggest one-day percentage jump in nearly sixteen years. 

One of the worst stocks on the Nasdaq today is Portola Pharmaceuticals Inc (NASDAQ:PTLA) which is down 44% at $13.86 after posting disappointing preliminary fourth-quarter numbers, warning that revenue from its Andexxa drug is expected to be lower than expected. The firms dismal results drew plenty of negative analyst attention, with at least four brokerage firms slashing their price target prices, including Oppenheimer, which also downgraded the stock to "perform" from "outperform." PTLA has been on the decline in recent weeks, with pressure emerging at its 20-day moving average, and is now on course for its lowest close ever. 

PTLA Chart Jan 10

Published on Jan 8, 2020 at 12:15 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Midday Market Check

The Dow Jones Industrial Average (DJI) was initially dragged lower this morning by Boeing (BA) -- down on news of another fatal crash -- and Walgreens Boots Alliance (WBA), which is selling off after earnings. The Dow is now trading higher with the S&P 500 Index (SPX) and Nasdaq Composite (IXIC), with the latter two hitting record highs, as investors took last night's non-fatal Iranian ballistic missile attack against a U.S. military base in Iraq, to mean the worst is over between the two countries. The rise in stocks has sent February-dated gold futures, which have been on a tear recently, lower, down 1% at $1,557.80 an ounce, at last check. 

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

  • Options bulls bombard Beyond Meat stock during breakout. 
  • RBC's bull note could help snap this biotech's losing streak. 
  • Plus, EA stock hits fresh high; the software stock that's doubled today; and GENE stock cools off. 

Midday Market Stats January 8

Electronic Arts Inc. (NASDAQ:EA) is seeing an usual amount of bullish activity in the option pits today, with 16,000 call contracts exchanging hands so far -- six times the average intraday amount, and roughly eight times the number of puts. The most popular position, by far, is the weekly 1/10 108-strike call, which expires at the close this Friday, with contracts being bought to open here. The shares are up 0.6% to trade at $109.01, and just hit a 15-month high of $109.67 earlier. 

Software maker ShiftPixy Inc (NASDAQ:PIXY) has more than doubled today, following an announcement that the company closed a contract assignment valued at $20 million, which is 60% of all of its contracted book of business. The firm plans on using the funding to achieve cash flow breakeven by the middle of 2020. The stock earlier hit a five-month high of $27.50 in response, and is now up 155% at $19.74, testing its footing atop its 180-day moving average for the first time since November 2018. 

PIXY Jan 8

One of the worst performing stocks on the Nasdaq is Genetic Technologies Limited (NASDAQ:GENE), which has shed 21.1% to trade at $3.56, just one day after the stock more than doubled on news the company's breast cancer test is set to launch in the U.S. While the stock has cooled today, it's still set for its second straight close atop its 320-day moving average, which hasn't happened since last May. 
Published on Jan 10, 2020 at 4:32 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Market Recap

The Dow limped into the weekend with a triple-digit loss, despite crossing a historic milestone earlier in the day. After toppling the 29,000 level for the first time ever and nabbing a new record high, the blue-chip index pivoted lower as a lackluster jobs report weighed on Wall Street. The S&P 500 and Nasdaq nabbed record highs of their own, but also ended the day in the red. Nevertheless, all three benchmarks walked away with weekly wins, the Nasdaq's fifth straight. 

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

  • This could be the next oil stock to surge.
  • Nvidia stock grabbed new highs after a Citigroup bull note.
  • Plus, NKTR expands collab with BMY; GrubHub squashes sale rumors; and breaking down URBN's drop.

The Dow Jones Industrial Average (DJI - 28,823.77) lost 133.1 points, or 0.5%. Pfizer (PFE) led the eight winners with a 1.5% win, while Boeing paced the 22 laggards with a 1.9% drop. For the week, the Dow added 0.7%. 

The S&P 500 Index (SPX - 3,265.35) gave back 9.4 points, or 0.3%, while the Nasdaq Composite (IXIC - 9,178.86) finished 24.6 points, or 0.3%, lower. The S&P 500 gained 0.9% on the week, while the Nasdaq tacked on a 1.8%.

The Cboe Volatility Index (VIX - 12.56) gained 0.02 point, or around 0.2%. It shed 10.4% this week. 

closing indexes summary jan 10

nyse and nasdaq stats jan 10

5 Items on Our Radar Today

  1. Australia has urged hundreds of thousands to evacuate today, as heavy winds escalate the wild bushfires that have ravaged the country the last two weeks. Military backup is being prepared, and the weekend firefights are going to be "very challenging," according to an Australian official. (Reuters)
  2. Speaker of the House of Representatives Nancy Pelosi announced today she will be sending the articles of impeachment against President Donald Trump to the Senate next week. This sets the Senate up for a multi-week impeachment trial. (CNBC)
  3. An expanded Bristol-Myers Squibb collaboration boosted NKTR stock.
  4. GrubHub squashed sales rumors, to the stock's demise.
  5. Urban Outfitters stock tanked after dismal holiday sales.

corporate earnings jan 10

unusual options volume january 10

Data courtesy of Trade-Alert

Oil, Gold Head in Opposite Directions

Oil pulled back today. February-dated crude futures lost 52 cents, or 0.9%, to end at $59.04 per barrel. For the week, black gold lost 6.4%, for its worst weekly loss since July.

Gold gained to close out the week, as the weak jobs report briefly increased the appetite for safe-haven assets. February gold futures gave back $5.80, or 0.4%, to end at $1,560.10 an ounce, holding above the psychologically significant $1,550 level. Gold posted a weekly gain of 0.5%, its third straight weekly win.

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