Earnings Season Highlights

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A collection of noteworthy post-earnings reactions
Published on Apr 26, 2019 at 12:00 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Midday Market Check

Despite first-quarter gross domestic product (GDP) growth that exceeded expectations, the Dow Jones Industrial Average (DJI) has traded on both sides of breakeven today. The index was last seen modestly higher, though, even as blue chips Exxon Mobil (XOM) and Intel (INTC) tank after earnings. Meanwhile, the Nasdaq Composite (IXIC) is in the red, as a sell-off in chip stocks overshadows an earnings win from Amazon (AMZN). Oil prices are also notably lower, after President Donald Trump said he told the Organization of the Petroleum Exporting Countries (OPEC) to temper fuel costs. At last check, front-month crude futures were down 3.3% at $63.07 per barrel.

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

  • Sell this shipping stock on macro risk, says analyst.   
  • The food delivery stock on a tear after earnings.  
  • Plus, options traders pile on puts ahead of Mondelez earnings; the vet stock jumping on buyout buzz; and Monotype stock slides on disappointing earnings report. 

Midday Market Stats Apr 26

Mondelez International (NASDAQ:MDLZ) is seeing unusual options volume today, with nearly 6,600 puts across the tape so far -- seven times the average intraday volume. The May 47.50 put -- which encompasses MDLZ's first-quarter earnings on April 30 -- is by far the most popular, with a large chunk of contracts being bought to open. At last glance, the Oreo name was up 0.2% at $50.11, and just touched a new record high of $50.70 earlier this week. 

Veterinary pharmaceutical name Aratana Therapeutics Inc (NASDAQ:PETX) is near the top of the Nasdaq today, on news that Elanco Animal Health (ELAN) wants to buy the drugmaker for $245 million, or $4.75 per PETX share. PETX has surged 37% to $4.70 as a result, set for its best day ever. Plus, the equity is eyeing its highest close since an early January bear gap, set to finish atop the 100-day moving average for the first time since the drop. 

PETX Chart Apr 26

Font concern Monotype Imaging Holdings Inc. (NASDAQ:TYPE) is one of the worst performers on the Nasdaq today. The stock is down 17.6% at $16.95, after unveiling first-quarter earnings and revenue that fell below analysts' estimates. The company reiterated its full-year guidance, however. Today's plummet has TYPE trading back below the $17.50 area for the first time since its mid-February bull gap. 

Published on Apr 29, 2019 at 9:12 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Opening View

Dow Jones Industrial Average (DJI) futures are signaling a slightly higher start, thanks to strong gains for Walt Disney (DIS) stock, which is up 1.9% ahead of the bell after "Avengers: Endgame" pulled in a record $1.2 billion globally in its opening weekend. The upside is being contained as Boeing (BA) shares slip ahead of the 737 Max aircraft maker's annual shareholders meeting today.

Traders are also digesting an early inflation update, with the core personal consumption expenditures (PCE) index coming in flat for March. U.S.-China trade talks are also on Wall Street's radar, with negotiations between the two nations set to kick off in Beijing this week.

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

  • 2 retail stocks blasted by Amazon buzz.
  • Signal says pick up cheap calls on booming Ollie's Bargain Outlet.
  • Analysts issued new "buy" ratings on this pair of weed stocks.
  • Plus, a big upgrade for Target; Spotify set to soar post-earnings; and the airline Deutsche Bank is buying.

us premarket on april 29

5 Things You Need to Know Today

  1. The Chicago Board Options Exchange (CBOE) saw 1.22 million call contracts traded on Friday, compared to 772,592 put contracts. The single-session equity put/call ratio rose to 0.63, while the 21-day moving average stayed at 0.60.
  2. Barclays upgraded Target Corporation (NYSE:TGT) to "overweight" from "equal weight," and lifted its price target to $115 from $85 -- a 49.1% premium to last Friday's close at $77.12. Analyst Matthew McClintock -- the "biggest bear on TGT" -- said there's been a "narrative change" on the retailer, and it's time to buy the dip. Target stock is up 2.4% ahead of the bell.
  3. Music streaming service Spotify Technology SA (NYSE:SPOT) reported stronger-than-anticipated first-quarter revenue of $1.69 billion, and said paid premium subscribers hit 100 million in the three-month period. After closing last week at $138.25, SPOT stock is up 3.2% in electronic trading -- potentially good news for one group of options bulls.
  4. Deutsche Bank upgraded American Airlines Group Inc (NASDAQ:AAL) to "buy" from "hold," saying "the resetting of expectations by management essentially establishes a 'floor' for AAL's share price." Cowen and Company, on the other hand, cut its price target to $41 from $42. AAL stock is 1.1% higher in pre-market trading, but is staring up at a key trendline.
  5. Personal income and outlays and the Dallas Fed manufacturing survey are due. Google parent Alphabet (GOOGL), AK Steel (AKS), MGM Resorts (MGM), Spotifty, Transocean (RIG), Western Digital (WDC), and Yum! China (YUMC) will report earnings.

stock market news april 29

Asian Stocks Mixed as Japan Kicks Off "Golden Week"

Asian markets were mixed today, as Japan kicks off its 10-day "Golden Week" holiday. China’s Shanghai composite dropped 0.8%, following a 5.5% weekly loss last week – its worst since October. Elsewhere, Hong Kong’s Hang Seng was up 1%, while South Korea’s Kospi tacked on 1.7% on a pre-earnings surge from Samsung.

Europe is mostly lower at midday, with investors looking toward this morning’s eurozone data, which showed a 10th straight monthly drop in economic sentiment.  The French CAC 40 and German DAX are both down 0.2%, while the London FTSE 100 is 0.08% higher.

Published on Apr 29, 2019 at 12:04 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Midday Market Check

S&P Hits Record High

by Lillian Currens

The Dow Jones Industrial Average (DJI) is modestly higher at midday, led by bank stocks, as traders look ahead to a full week of earnings and economic data. In addition, Wall Street is digesting relatively tame inflation data ahead of the Fed's policy meeting, with the central bank widely expected to stand pat on interest rates. Elsewhere, the S&P 500 Index (SPX) hit a new all-time intraday high for the first time since September, with speculators cheering the biggest increase in consumer spending in nearly 10 years last month. The Nasdaq Composite (IXIC) is also higher, after touching its own record peak.

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

  • AMC stock is higher on a record box-office weekend.   
  • This red-hot tech stock could have room to run.  
  • Plus, options bulls jump on Dropbox stock; SOHU enjoys a revenue beat; and Veoneer stock plummets as the company seeks funding. 

Midday Market Stats Apr 29

Drobox Inc (NASDAQ:DBX) is seeing unusual options volume today, with nearly 14,000 calls across the tape so far -- roughly six times the average intraday volume. For comparison, just over 2,700 DBX puts have changed hands, which is about two times the average. The January 2020 45-strike call appears to be the most popular, with positions being bought to open. DBX is up 0.4% at $24.44 today -- pacing for its seventh day in the black. 

Chinese online media concern Sohu.com Ltd (NASDAQ:SOHU) is near the top of the Nasdaq today, after the company reported  first-quarter revenue that exceeded analysts' expectations. The company also issued stronger-than-expected current-quarter guidance. The security is up 18.2% at $18.18, eyeing its best day in over 10 years. SOHU stock is set to close back atop its 20-day moving average -- a trendline that has acted as a recent ceiling on the charts -- for the first time since February. 

SOHU Apr 29

Swedish automaker Veoneer Inc (NYSE:VNE) is toward the bottom of the New York Stock Exchange today, down 15.2% at $22.69, after the firm said it's seeking additional funding to make up for its slowing autonomous car sales. VNE just hit a new record low of $21.52 earlier, and is pacing for its biggest one-day drop in six months. 

Published on Apr 26, 2019 at 4:30 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Market Recap

Stocks closed higher, with investors digesting gross domestic product (GDP) data that showed the U.S. economy grew 3.2% during the first quarter, well above forecasts. However, upside was contained following a batch of mixed corporate earnings reports, with an Intel (INTC) disappointment dragging on the Dow in early trading, while well-received Amazon.com (AMZN) earnings pushed the Nasdaq and S&P 500 to record-high closes. Though the Dow came up just shy for the week, the other two indexes nabbed weekly wins -- the Nasdaq marking its fifth straight.

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

The Dow Jones Industrial Average (DJI - 26,543.33) rallied 81.3 points, or 0.3%, for the day. UnitedHealth (UNH) was the best of the 20 Dow gainers, adding 2.7%. Meanwhile, INTC outpaced the 10 losers with its 9% drop. For the week, the Dow shed 0.06%.

The S&P 500 Index (SPX - 2,939.88) added 13.7 points, or 0.5%. The Nasdaq Composite (IXIC - 8,146.40added 27.7 points, or 0.3%. The indexes gained 1.2% and 1.8% for the week, respectively.

The Cboe Volatility Index (VIX - 12.73) lost 0.5 point, or 3.9%. Week-over-week, the stock market's "fear gauge" added 5.2%.

Closing Indexes Summary April 26

NYSE and Nasdaq Stats April 26

5 Items on our Radar Today

  1. Amid the ongoing measles crisis in the U.S., President Donald Trump weighed in this afternoon, telling reporters citizens "have to get their shots," and that it is "so important." Measles cases have been reported in 22 states, with just under 700 reported cases this year alone, the most since the Center for Disease Control and Prevention (CDC) proclaimed measles eliminated from the U.S. in 2000. (CNBC)
  2. Police in Sri Lanka are working to find 140 people believed to be connected to the Easter Sunday attack that involved multiple suicide bombings. Taking the lives of 253 people, the Islamic State claimed responsibility, and prompted the country's government to urge citizens to avoid public places of worship. (Reuters)
  3. Lyft, PayPal come into focus ahead of Uber's initial public offering (IPO).
  4. Analysts issued new "buy" ratings on these 2 weed stocks.
  5. 2 stocks that reacted to Amazon's one-day delivery news.

Recap earnings April 26

Unusual Options Activity April 26

Data courtesy of Trade-Alert

Oil Falls on Trump, OPEC Controversy

Oil took a hit in today's trading, after Trump said he called the Organization of the Petroleum Exporting Countries (OPEC) and told the cartel, "Gasoline prices are coming down .. you've got to bring them down." The Wall Street Journal, meanwhile, said OPEC did not talk to Trump. June-dated oil lost $1.91, or 2.9%, to close at $63.30 per barrel for the day, and finished down 1.1% for the week -- snapping its longest weekly win streak in five years.

Gold moved higher as the greenback weakened in the wake of this morning's GDP data. June-dated gold added $9.10 or 0.7%, to settle at $1,288.80 per ounce. For the week, gold added 1%.

Published on Apr 29, 2019 at 4:34 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Market Recap

The S&P 500 kicked off the week with a fresh record high, as investors began gearing up for a busy week of economic and earnings data. Bank stocks were some of the day's best performers, with impressive gains for JPMorgan Chase (JPM) and Goldman Sachs (GS) helping keep the Dow above water, while another strong showing from tech had the Nasdaq touching its own all-time peak.

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

The Dow Jones Industrial Average (DJI - 26,554.39) added 11 points, or 0.04%, for the day. Goldman Sachs (GS) was the best of the 15 Dow gainers, adding 1.9%. Meanwhile, Intel (INTC) outpaced the remaining losers for a second day, with a 2.5% plunge.

The S&P 500 Index (SPX - 2,943.03) eked out 3.2 points, or 0.1%, and touched a fresh intraday high of 2,949.52. The Nasdaq Composite (IXIC - 8,161.85added 15.5 points, or 0.2%, after hitting an intraday peak of 8,176.08.

The Cboe Volatility Index (VIX - 13.11) gained 0.4 point, or 3%.

closing indexes summary april 29

nyse and nasdaq stats april 29

5 Items on our Radar Today

  1. Per data out of CoreLogic, annual home prices fell last month for the first time in over seven years in the San Francisco Bay Area. The median home cost dropped 0.1% in March, snapping an 83-month streak of consecutive increases. The main culprit is suspected to be the slowdown in home buying, a trend which began in the middle of 2018. (CNBC)
  2. Amid several trade wars mounted by the Trump administration, personal income for U.S. farmers fell by $11.8 billion in the first quarter -- the most since 2016. Alongside trade tensions, the low commodity prices and a handful of natural disasters in the Midwest have amplified financial troubles for farmers. (Bloomberg)
  3. Bulls bet this drug stock will double.
  4. Seagate Technology shares may be ready to surge.
  5. Snap calls hot on partnership news.

corporate earnings april 29

unusual options activit april 29

Data courtesy of Trade-Alert

Oil Inches Higher, Gold Pullsback

Oil moved cautiously higher for the day, bouncing back after last week's rare drop. June-dated crude futures added 20 cents, or 0.3%, to close at $63.50 per barrel.

Gold sank as traders flocked to riskier assets, like stocks, today. June-dated gold dropped $7.30 or 0.6%, to settle at $1,281.50 per ounce.

Published on Apr 30, 2019 at 9:14 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Opening View

Dow Jones Industrial Average (DJI) futures are pointing to a positive open this morning ahead of a huge day of earnings on Wall Street. Strong quarterly reports from blue chips McDonald's (MCD), Merck (MRK), and Pfizer (PFE) are getting the ball rolling for the 30-stock index, while former Dow component General Electric (GE) is also set to soar after earnings.

However, the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) could be under pressure at the open, due to a sharp pullback in Alphabet (GOOGL) shares following disappointing first-quarter sales. Tech will remain in focus post-close, as well, with Apple (AAPL) set to report, while on the economic front, traders will have a ton of housing data to sift through.

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

  • Schaeffer's Senior V.P. of Research Todd Salamone explains why a small-cap breakout could be imminent.
  • Options bulls expect this drug stock to double.
  • How Canopy Growth added to its big April gains.
  • Plus, a soaring tech stock; confirmed M&A news; and analysts up the ante on Ford.

us stock futures april 30

5 Things You Need to Know Today

  1. The Chicago Board Options Exchange (CBOE) saw 1.11 million call contracts traded on Monday, compared to 674,174 put contracts. The single-session equity put/call ratio fell to 0.61, while the 21-day moving average stayed at 0.60.
  2. One of the biggest pre-market movers this morning is Impinj Inc (NASDAQ:PI), with the radio frequency technology expert reporting better-than-expected first-quarter results last night, along with an upbeat outlook. As such, shares of PI are up more than 23% before the open, trying to build off an already strong start to 2019.
  3. Workplace benefits and solutions provider WageWorks Inc (NYSE:WAGE) is soaring this morning, after the company confirmed reports it received a buyout offer from HealthEquity (HQY). Interestingly, HealthEquity's CEO is actually the founder of WageWorks. WAGE stock is up 16% this morning.
  4. Auto giant Ford Motor Company (NYSE:F) continues to enjoy positive attention after last week's surprising earnings beat. Jefferies this morning lifted its price target on F shares to $12.50 from $11, saying the company's quarterly results confirmed it's on solid footing as it revamps its business. The stock hasn't traded above $12.50 since January 2018.
  5. Pending home sales, consumer confidence, the Chicago purchasing managers index (PMI), the S&P Corelogic Case-Shiller home price index, and employment cost index are due, while the Fed meeting kicks off. Apple (AAPL), Advanced Micro Devices (AMD), Blue Apron (APRN), Eli Lilly (LLY), General Motors (GM), Kraft Heinz (KHC), Lumber Liquidators (LL), MasterCard (MA), Seagate Technology (STX), Shopify (SHOP), Sprint (S), and Twilio (TWLO) will report earnings.

stock market news april 30

Mixed Trading Overseas

Asian markets ended mixed today. China’s Shanghai Composite was 0.5% higher, after a pair of weaker-than-expected manufacturing reports tempered last week's concerns that the government would tap the brakes on economic stimulus efforts. South Korea’s Kospi fell 0.6% as Samsung Electronics posted a first-quarter drop in profits, while Hong Kong’s Hang Seng fell 0.7%. Japan's stock market will reopen May 7.

Europe is mostly lower at midday, despite better-than-expected gross domestic product (GDP) data for the eurozone. Instead, resources stocks are weighing on regional bourses after the unexpected drop in China's official purchasing managers index (PMI). At last look, London’s FTSE 100 is down 0.1%, and the French CAC 40 has lost 0.2%, while Germany’s DAX has inched 0.04% higher.

Published on Apr 30, 2019 at 12:06 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Midday Market Check

The Dow Jones Industrial Average (DJI) is down roughly 50 points, erasing early gains stemming from well-received blue-chip earnings. Apple (AAPL) is the leading laggard on the Dow, dropping ahead of earnings tonight, as fellow FAANG stock Alphabet (GOOGL) sinks on weaker-than-expected first-quarter revenue. The tech-rich Nasdaq Composite (IXIC) is dropping in response, pulling back from recent record highs.

Elsewhere, traders are keeping an eye on U.S.-China trade talks, after Mick Mulvaney, the current White House chief of staff, said a trade deal could be inked in the next couple of weeks. Investors are also anticipating the Fed's two-day policy meeting, which kicks off today, though the central bank is expected to stand pat on interest rates.

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

  • The biotech stock that could double after earnings, according to one analyst.   
  • This Chinese stock just scored a pre-earnings bull note. 
  • Plus, Weight Watchers gets an upgrade; the best Nasdaq stock today; and DBD stock eyes worst day in nine months. 

Midday Market Stats Apr 30

Weight Watchers International, Inc. (NASDAQ:WW) is seeing unusual options volume today, with nearly 6,700 calls across the tape so far -- roughly three times the average intraday volume. The weekly 5/3 21-strike call, which encompasses the diet concern's first-quarter earnings on May 2, is by far the most popular, with positions being bought to open. WW is up 5.4% at $19.47 today, after J.P. Morgan lifted its price target to $14 from $12.  

Semiconductor concern Impinj Inc. (NASDAQ:PI) is at the top of the Nasdaq today, after posting first-quarter earnings and revenue that came in above analysts' expectations. The earnings beat had analysts rushing to lift their price targets, with hikes from Piper Jaffray, Canaccord Genuity, and RBC. The equity is up 26.4% at $27.43, and just hit a new annual high of $28.52 earlier today. The stock has seen an impressive rally of late, ending higher in 14 of the last 15 sessions.

Software name Diebold Nixdorf Inc (NYSE:DBD) is toward the bottom of the New York Stock Exchange today, after reporting a steeper-than-expected quarterly loss. The shares are eyeing their worst day in nine months, down 18.4% at $10.14, at last glance. Today, the stock is set to close below its 20-day moving average -- a former area of support for DBD -- for the first time since early January. 

DBD Chart Apr 30

Published on May 1, 2019 at 9:16 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Opening View

Dow Jones Industrial Average (DJI) futures are moving higher this morning, as investors applaud quarterly results from tech giant Apple (AAPL). The FAANG stock is pointed 5% higher in pre-market trading. In addition, Wall Street is cheering a bigger-than-expected increase in private payrolls, per the latest ADP data. With the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) also headed higher, today's trading may bring another round of fresh record highs for the major indexes.

Looking ahead, traders are anticipating the results of the two-day Federal Open Market Committee (FOMC) meeting -- where no rate hike is currently expected -- as well as a subsequent press conference by Fed Chair Jerome Powell, set for 2:30 p.m. ET.

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

  • "Sell in May" could be the wrong strategy this year, says Schaeffer’s Senior Quantitative Analyst Rocky White.
  • Why Altaba stock looks good for options bulls.
  • RBC thinks this Apple supplier can rally 23%.
  • Plus, Yum! Brands' earnings win; Humana gets a boost; and TWLO gets showered in bull notes.

OV Futures Chart May 1

5 Things You Need to Know Today

  1. The Chicago Board Options Exchange (CBOE) saw 1.03 million call contracts traded on Tuesday, compared to 668,938 put contracts. The single-session equity put/call ratio rose to 0.65, while the 21-day moving average stayed at 0.60.
  2. Taco Bell parent Yum! Brands, Inc. (NYSE:YUM) stock is up 0.6% before the open, moving higher after an impressive same-store sales beat. Outperforming YUM just touched an all-time high of $104.46 yesterday.
  3. Health insurance name Humana Inc (NYSE:HUM) knocked its first-quarter earnings and revenue out of the park, sending the shares up 1.8% in electronic trading. A win today would be a much-needed boost for HUM, with the equity still down more than 10% year-to-date.
  4. Twilio Inc (NYSE:TWLO) stock is up 5.4% ahead of the bell, after the firm reported a first-quarter revenue beat and issued an upbeat outlook. No fewer than seven brokerage firms have handed over price-target hikes, including Rosenblatt Securities, which upped its target to $158 from $118. TWLO has already surged more than 53% year-to-date.
  5. Data on MBA mortgage applications, Markit's PMI, weekly crude inventories, the Institute for Supply Management's (ISM) manufacturing index, and construction spending are due. Avis Budget (CAR), CVS Health (CVS), Fitbit (FIT), Five9 (FIVN), Garmin (GRMN), Hilton Worldwide (HLT), Qualcomm (QCOM), and Square (SQ) will report earnings.

stock market news may 1

 

London FTSE Falls Despite Sainsbury Surge

There’s not much to write about for overseas stock markets, since most exchanges usually covered here in both Asia and Europe were closed for holiday. The one place trading still is London, where the FTSE 100 is fractionally lower at the halfway point, despite a sharp rise in the shares of grocery giant Sainsbury. Most exchanges will open for trade again tomorrow, though Tokyo’s Nikkei will remain closed through the week.

Published on May 1, 2019 at 12:00 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Midday Market Check

Stocks are mostly higher today thanks to strong corporate earnings and jobs data. Apple's (AAPL) big earnings beat is the main story, pushing the Dow Jones Industrial Average (DJI) to a solid lead at the halfway point. Meanwhile, ADP data revealed a sharp increase in private payrolls for April, a noteworthy update ahead of Friday's jobs report out of the Labor Department and today's Fed decision. Against this backdrop, the Nasdaq Composite (IXIC) is following the Dow higher on broader strength out of the tech sector, while the S&P 500 Index (SPX) is closer to breakeven.

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

midday market stats may 1

One name seeing unusual options activity today is Transocean Ltd (NYSE:RIG), which Trade-Alert suggests is part of an ongoing trend on drilling stocks. Specifically, 58,000 RIG calls have traded today, compared to a daily average of just 15,000. Almost 50,000 of these contracts crossed at the June 10 call, with all signs pointing to buy-to-open activity. This would mean traders are betting on RIG shares rising above $10 in the weeks ahead. The stock is trading up 2.3% at $8.04, but remains short-sale restricted after Tuesday's post-earnings sell-off.

Direct selling stock Nu Skin Enterprises, Inc. (NYSE:NUS) is one of the best stocks on Wall Street today, trading up 26.2% at $64.20. The company posted a top- and bottom-line beat after the close yesterday, and the shares are trading at their highest level since late February, though the 200-day moving average is looming overhead.

nus stock price may 1

A favorite of Wall Street speculators, healthcare name Pulse Biosciences Inc (NASDAQ:PLSE) is one of the worst performing stocks on the Nasdaq today. The Food and Drug Administration (FDA) requested more information on the company's CellFX System, sending the shares down 23.2% to $12.30, into territory not charted for PLSE stock since Jan. 30.
Published on May 1, 2019 at 4:30 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Market Recap

Fed Chair Jerome Powell's comments on a "transitory" period of low inflation deflated hopes for a potential rate cut on the horizon. Against this backdrop, the major stock market indexes turned lower, erasing earlier gains stemming from solid Apple (AAPL) earnings. By the close, the Dow, S&P 500, and Nasdaq were in the red, though the SPX touched a new record high before its reversal.

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

  • 3 reasons to grab calls on this insurance stock.
  • This chip stock attracted bullish analyst attention after earnings.
  • 2 drug stocks that made massive moves today. 
  • Plus, ULTA stock could heat up; the China stock set for a major breakout; and 2 blue chips to buy now. 

The Dow Jones Industrial Average (DJI - 26,430.14) lost 162.8 points, or 0.6%, in today's trading. Apple was the best of the six Dow gainers, adding 4.9%, while on the flip side, Home Depot (HD) was the worst of the 24 losers with a 2.4% dip.

The S&P 500 Index (SPX - 2,923.73) fell  22.1 points, or 0.8%, after touching a record best 2,954.13 in intraday trading. The Nasdaq Composite (IXIC - 8,049.64) ended 45.8 points, or 0.6%, lower.

The Cboe Volatility Index (VIX - 14.80) was 1.7 points, or 12.8%, higher, for its highest close in over a month.

Closing Indexes Summary May 1

NYSE and Nasdaq Stats May 1

5 Items on our Radar Today

  1. Hulu announced that it gained over two times the number of subscribers as Netflix (NFLX) in its first quarter. While Netflix's user base still overshadows Hulu by a long shot, the smaller streaming service added 3.8 million subscribers in 2019, compared to Netflix, which posted a 1.74 million increase in its first quarter. (CNBC)
  2. A new gun bill passed in Florida today will let teachers legally arm themselves in the classroom. The bill was in response to a recent Parkland, Fla., high school shooting, and passed with a 65-to-47 vote in Florida's House of Representatives after a lengthy debate. (Reuters)
  3. How red-hot ULTA stock could make serious moves this summer. 
  4. The China stock signaling a huge breakout.  
  5. 2 blue chips flashing  "buy" signals right now. 


Corporate Earnings May 1

Unusual Options Activity May 1

Data courtesy of Trade-Alert

Oil Drops on Inventories Glut

Oil erased yesterday's gains as U.S. crude inventories surged to 19-month highs. Political tensions in Venezuela, as well as the U.S. eliminating Iranian oil sanction waivers, helped dilute some of the losses, however. June-dated crude futures fell 31 cents, or 0.5%, to close at $63.60 a barrel.

Gold futures ended in the red today, with June-dated gold ending $1.50, or 0.1%, lower at $1,284.20 an ounce. After the Fed announcement, the contract deepened its losses in electronic trading.

Published on May 2, 2019 at 9:17 AM
Updated on Mar 9, 2022 at 3:00 PM
  • Opening View

Dow Jones Industrial Average (DJI) futures are pointing toward a lower open, with the S&P 500 Index (SPX) following suit. Investors continue to digest Fed Chair Jerome Powell's post-meeting comments indicating interest rates will likely remain unchanged, which dampened expectations for a rate cut. Meanwhile, the Nasdaq-100 Index (NDX) is pointing toward a modestly higher open, with Tesla (TSLA) shares set to jump on the company's plans to raise $2 billion in capital.

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

Futures Chart OV May 2

5 Things You Need to Know Today

  1. The Chicago Board Options Exchange (CBOE) saw 1.20 million call contracts traded on Wednesday, compared to 764,643 put contracts. The single-session equity put/call ratio fell to 0.63, while the 21-day moving average stayed at 0.60.
  2. Ahead of its investor day, construction machinery name Caterpillar Inc. (NYSE:CAT) is up 0.8% in pre-market trading, after the company said it plans to hike its quarterly cash dividend by 20%. The firm also plans to buy back shares over the next four years. CAT has been in a channel of higher highs and lows since November, and is up 8.7% year-to-date.
  3. Shares of Kellogg Company (NYSE:K) are down 3.3% this morning, after the cereal name issued lackluster guidance and said CFO Fareed Kahn will be leaving July 1. Kellogg’s stock made a turnaround in late March, and recently broke above the resistant $60 mark for the first time since late December.
  4. Cooler maker Yeti Holdings Inc (NYSE:YETI) is down 9% in electronic trading, despite the company reporting a first-quarter earnings and sales beat, and upping its full-year profit outlook. YETI has been climbing the charts since late December, and just this past Tuesday touched a fresh record high of $36.57.
  5. Traders can expect weekly jobless claims, productivity costs, factory orders, and the Fed's balance sheet. For earnings, DowDuPont (DWDP), Activision Blizzard (ATVI), Dunkin' Brands (DNKN), GoDaddy (GDDY), Planet Fitness (PLNT), Skyworks (SKWS), Tableau Software (DATA), Teva Pharmaceutical (TEVA), Under Armour (UAA), and WW (WTW) will report.

stock market news may 2

 

Europe Sees Risk-Off Trading

With the Chinese Shanghai Composite and Japan’s Nikkei still closed for holiday, traders were left to monitor Hong Kong and South Korean stocks. For the former’s Hang Seng, the index gained 0.8% thanks to upbeat headlines around U.S.-China trade talks. The Kospi also rose in South Korea, adding 0.4%.

In Europe, it’s mostly been a risk-off session, with the majority indexes trading at or below breakeven. Traders are considering central bank updates in the U.S. and England, a raft of corporate earnings, and disappointing economic data. Looking at the latter first, factory orders in the eurozone were weaker than expected in April, contracting for a third consecutive month. In earnings, automaker Volkswagen is gaining on well-received numbers, while investors also cheered results from BNP Paribas. Elsewhere, the Bank of England (BoE) left interest rates unchanged and raised its economic outlook for the U.K. Still, the FTSE 100 was last seen slightly lower, the French CAC 40 is down 0.4%, and Germany’s DAX is sporting a slim 0.2% lead.

Published on May 2, 2019 at 12:02 PM
Updated on Mar 9, 2022 at 3:00 PM
  • Midday Market Check

Stocks are pulling back today, as investors react to corporate earnings and yesterday's Fed decision. The Dow Jones Industrial Average (DJI), S&P 500 Index (SPX), and Nasdaq Composite (IXIC) are all in the red, while the yield on the 10-year Treasury note rises. And even as strong earnings from the likes of Under Armour (UAA) have helped keep the losses in check, the Cboe Volatility Index (VIX) is rising to flirt with its highest close in over a month.

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

midday market stats may 2

One stock's that's been red hot is Strategic Education Inc (NASDAQ:STRA), and options traders may be betting on more upside with unusual activity taking place today. Specifically, new positions are opening at the May 165 call, where a trader may be rolling up their position from the May 160 call. STRA stock was last seen trading at $158.15, after hitting an eight-year high of $161.58. The shares soared in Wednesday's trading thanks to an impressive earnings release, and currently sport a 39% year-to-date lead.

stra stock price

China-based So-Young International (NASDAQ:SY) is soaring in its public trading debut, up 39% at $19.15. The shares of the online platform that helps people find plastic surgery services are following the lead of other recent successful initial public offerings (IPOs) such as Pinterest (PINS). SY's IPO was priced at $13.80 per share.

One of the worst stocks on the New York Stock Exchange (NYSE) is Pyxus International Inc (NYSE:PYX), as the tobacco name suffers heavy losses for a second straight session, though it's not clear why. PYX shares were last seen down 10.8% at $18.39, after losing 9.7% on Wednesday.

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