It's been a rough week for tech stocks, after Morgan Stanley last Monday said it was time to take profits on semiconductors. Among those staring at stiff weekly losses -- and paring recent bitcoin gains -- are Advanced Micro Devices, Inc. (NASDAQ:AMD), Micron Technology, Inc. (NASDAQ:MU), and Nvidia Corporation (NASDAQ:NVDA), and the selling is continuing today. What's more, options volume is runn...Read More
U.S. stocks are trading mixed, as traders eye a simultaneous tax reform rally and tech dip. Among the names making big moves are bank concern Goldman Sachs Group Inc (NYSE:GS), retail powerhouse Macy's, Inc. (NYSE:M), and shipping company United Parcel Service, Inc. (NYSE:UPS). Here's a quick look at what's moving shares of GS, M, and UPS.GS Higher With Big Bank StocksGoldman Sachs stock is mo...Read More
The 20 stocks listed in the table below have attracted the highest total weekly options volume during the past 10 trading days. Data is courtesy of Schaeffer's Senior Quantitative Analyst Rocky White. Two names to note are bank stock JPMorgan Chase & Co. (NYSE:JPM) and streaming content provider Roku Inc (NASDAQ:ROKU). Below, we'll break down recent options trading activity on JPM and ROKU. Call T...Read More
Options traders are blasting CVS Health Corp (NYSE:CVS), on news the drugstore chain has put in a $69 billion bid for insurance giant Aetna (AET) -- in a move that will "transform healthcare," according to Leerink. At last check, 28,067 calls and 18,179 puts had traded on CVS stock -- six times what's typically seen, and total options volume pacing in the 100th annual percentile.Most active is the...Read More
U.S. stocks are trading mixed this afternoon, with bank and tech stocks moving in opposite directions. The Dow Jones Industrial Average (DJIA) and S&P 500 Index (SPX) are soaring, both touching fresh record highs as financial stocks rally on the Senate's tax reform bill that was passed Saturday.On the other hand, the Nasdaq Composite (IXIC) is modestly lower at midday, as FAANG stocks once ag...Read More
As bank stocks rally on the Senate's tax bill news, the Financial Select Sector SPDR Fund (XLF) is assailing new heights. The exchange-traded fund (ETF) is fresh off a 10-year high of $28.20, and was last seen 1.9% higher at $28.09. What's more, XLF call options are flying off the shelves at a rapid-fire rate.XLF calls are changing hands at six times the average intraday pace, with nearly 270,000...Read More
In its attempt at a hostile takeover over Qualcomm (QCOM), Broadcom Ltd (NASDAQ:AVGO) unveiled a list of 11 nominees for QCOM's board of directors, with a shareholder vote slated for March 6. Qualcomm has since issued a statement, calling the nominees "inherently conflicted" in a buyout attempt that "dramatically undervalues" the chipmaker relative to the benefit it offers Broadcom. After jumping...Read More
While most U.S. stocks are higher out of the gate, the shares of medical device maker Mazor Robotics Ltd (NASDAQ:MZOR) are bucking the trend, down 2.8% to trade at $56.11. MZOR stock is reeling amid reports that CEO Ori Hadomi is being investigated for insider trading related to Medtronic's (MDT) investment in Mazor back in 2016.Prior to today, MZOR stock was up roughly 164% in 2017, touching a r...Read More
Blue Apron Holdings Inc (NYSE:APRN) has struggled mightily since it first began trading in late June amid a suddenly crowded meal delivery industry that now includes Amazon (AMZN) and Weight Watchers (WTW). Nevertheless, the stock is soaring for a third straight day following last week's news of the company's CEO shift -- and upbeat analysts are chiming in.Earlier today, APRN received an upgrade t...Read More
One stock on the move today is low-cost carrier Southwest Airlines Co (NYSE:LUV), after Barron's mentioned LUV as one of the U.S.-focused companies that could benefit from the new Republican tax plan -- which passed the Senate in the early hours of Saturday morning, and features a reduced corporate tax rate as one of its key features.LUV stock is up 2.6% at $61.50 in electronic trading, having s...Read More
Bank stocks are getting ready to rally, after the U.S. Senate passed the Republican tax plan over the weekend. Shares of Bank of America Corp (NYSE:BAC), for instance, are up 2.5% in electronic trading -- on track to open at their highest mark since October 2008 -- as the business-friendly piece of legislation now heads to reconciliation between the House and Senate. Today's projected price move i...Read More
U.S. stocks are set to rally today, after Senate Republicansmanaged to push through a tax reform bill over the weekend. In fact, Dow Jones Industrial Average (DJIA) and S&P 500 Index (SPX) futures are signaling all-time highs, as the Michael Flynn saga from last week is pushed to the back burner for the time being. One group to watch is bank stocks, with Dow components Goldman Sachs (GS) and JPMor...Read More
"The near-term risk to bulls is the move through the respective SPX and RUT century marks proving to be only temporary, as selling accompanied the RUT's last move through 1,500 in October, and there was a notable hesitation at SPX 2,600 during last Tuesday and Wednesday's trading."...The Nasdaq Composite (IXIC) continues to maintain a dominant leadership role, despite being in an 'overbought' cond...Read More
The Dow Jones Industrial Average (DJIA) was on track for another big win today, until the Michael Flynn news broke, sending the blue-chip index cratering by more than 350 points at its intraday low. The bombshell political news overshadowed cautious optimism over Senate Republican leader Mitch McConnell's belief that the GOP tax bill "has the votes." Stocks closed well off their session lows, tho...Read More
The SPDR Gold Shares (GLD) hit its intraday high of $122.43 at midday, around the same time the stock market was panning its session lows on news Michael Flynn could testify against President Donald Trump in a possible Russian collusion investigation, after the former national security advisor pleaded guilty to lying to the FBI. While the shares have since pared these gains to 0.4% to trade at $12...Read More
Reports that former national security advisor Michael Flynn is prepared to testify against President Trump sent shockwaves through the U.S. stock market, with the Dow flirting with at 350-point drop at its intraday low. What's more, the reports -- which suggest Flynn will confirm Trump told him to make contact with Russian officials -- sent the ruble dropping against the U.S. dollar, and has optio...Read More
Stocks are falling today amid reports that former national security advisor Michael Flynn could testify against President Trump. Among the names making big moves are healthcare stock Foundation Medicine Inc (NASDAQ:FMI), forex concern Gain Capital Holdings Inc (NYSE:GCAP), and pharmaceutical issue Mylan (NASDAQ:MYL). Here's a quick look at what's moving shares of FMI, GCAP, and MYL. FMI Stock Hits...Read More
U.S. stocks turned sharply lower at midday, as reports hit that former national security advisor Michael Flynn pleaded guilty over lying to the FBI, and agreed to cooperate with a special counsel investigation into possible Russian collusion in the 2016 U.S. presidential election. The quick decline in stocks sent the CBOE Volatility Index (VIX) -- or market's "fear gauge" to its highest point sinc...Read More
It was an interesting week on Wall Street, with all three indexes notching record highs, though the tech-rich Nasdaq Composite (IXIC) underperformed. Solid holiday shopping data lifted stocks early in the week, as did growing expectations for a Senate vote on tax reform. However, reports on Friday that former national security advisor Michael Flynn could testify against President Trump took some o...Read More
U.S. stocks have plummeted amid reports that former national security advisor Michael Flynn could testify against President Trump. The Dow Jones Industrial Average (DJIA) was down more than 350 points at its intraday low, after sources told ABCthat Flynnwill acknowledge Trump ordered him to initiate contact with Russians. Flynn today pleaded guilty to lying to the FBI, becoming the first of Trump...Read More