Pharma Stock Surges on New Drug Partnerships

AAPL is eyeing its fourth-straight day in the red

Digital Content Manager
Jan 4, 2024 at 2:41 PM
facebook X logo linkedin


Stocks are fighting tooth and nail to stay in positive territory today, as the sluggish start to 2024 continues. Notable movers today include self-driving tech stock Mobileye Global Inc (NASDAQ:MBLY), drugmaker Novo Nordisk A/S (NYSE:NVO), and tech titan Apple Inc (NASDAQ:AAPL).

Mobileye Stock Eyes Worst Day ... Ever

MBLY was last seen down 26% to trade at $29.38, one of the worst stocks on the Nasdaq Composite (IXIC) today and heading for its worst single-session drop on record. The bear gap comes after the company disclosed fiscal first-quarter revenue will fall about 50% year-over-year, with orders pulling back as customers clear inventory. MBLY earlier hit a 52-week low of $28.19, and is headed for its lowest close since November 2022.

Options traders are chiming in. MBLY has seen over 36,000 calls and 28,000 calls exchanged so far, or 30 times the intraday average volume, with new positions being bought to open at the January 30 call, the most popular contract.

Yet Another Apple Downgrade

AAPL was last seen down 0.7% to trade at $182.92, on the heels of a Piper Sandler downgrade to "neutral" from "overweight." The shares are testing support at their 100-day trendline, and are pacing for their fourth-straight day in the red. Longer term, the Magnificent Seven stock has added 44.8% in the past 12 months.

Novo Making Moves

NVO is enjoying a 4.5% pop to trade at $108.26 at last check, after announcing new partnerships with both Cellarity and Omega Therapeutics (OMG) that could lead to treatments for people living with obesity. The stock earlier scored a record high of $108.98, and blasted through overhead pressure at the $104 level, which capped a handful rallies since October. In the last year, NVO added 58.1%.

Options volume is running at four time the intraday average for NVO, with 29,000 calls and 14,000 puts traded. The most active is the February 110 call, with positions being bought to open.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI